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Twin Securities Portfolio holdings

AUM $206M
1-Year Est. Return 77.79%
This Fund
S&P 500
This Quarter Est. Return
-1.48%
1 Year Est. Return
+77.79%
3 Year Est. Return
+466.97%
5 Year Est. Return
+1,667.28%
10 Year Est. Return
+13,530.48%
AUM
$529M
AUM Growth
-$53.8M
Cap. Flow
-$38.4M
Cap. Flow %
-7.26%
Top 10 Hldgs %
92.08%
Holding
27
New
7
Increased
6
Reduced
4
Closed
10

Top Buys

Rank Stock Value
1
VER
VEREIT, Inc.
VER
+$43.4M
2
TWC
TIME WARNER CABLE INC NEW COM STK
TWC
+$36.7M
3
AGN
Allergan plc
AGN
+$36M
4
THI
TIM HORTONS INC COM, CANADA
THI
+$23.9M
5
LAMR icon
Lamar Advertising Co
LAMR
+$15.6M

Top Sells

Rank Stock Value
1
FRX
FOREST LABORATORIES INC
FRX
+$93.1M
2
AZN icon
AstraZeneca
AZN
+$32.7M
3
MCK icon
McKesson
MCK
+$22.2M
4
IPG
Interpublic Group of Companies
IPG
+$16.4M
5
COV
COVIDIEN PLC COM SHS NEW (IRELAND)
COV
+$14.3M

Sector Composition

Rank Sector Weight
1 Healthcare 14.23%
2 Real Estate 11.02%
3 Industrials 9.35%
4 Communication Services 7.4%
5 Technology 6.99%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FRX
26
DELISTED
FOREST LABORATORIES INC
FRX
– –
-940,610
Closed -$93.1M
LNCO
27
DELISTED
LINNCO LLC COM SHS REPSTG LTD LIABILITY
LNCO
– –
-352,316
Closed -$11M
1
2

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SC
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LPFG
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AFT
Alpha Family Trust Los Angeles, California $206M AUM 35.6% 1-Year Est. Return
SCM
SOL Capital Management Rockville, Maryland $206M AUM 17.87% 1-Year Est. Return
ACM
Accent Capital Management Centerville, Ohio $206M AUM 29.56% 1-Year Est. Return
SAM
Stenahm Asset Management Guernsey $206M AUM 42.47% 1-Year Est. Return
HM
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Twin Securities's Q3 2014 Portfolio in Review

As of Q3 2014, Twin Securities held 27 positions worth $529M, down 9.2% from $582M the previous quarter. Its ten largest holdings account for 92% of the portfolio.

Twin Securities withdrew a net $38.4M in Q3 2014, closing 10 positions and reducing 4 holdings. Its most notable exit was FOREST LABORATORIES INC, an estimated $93.1M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 14% of assets, down from 34% a quarter earlier, followed by Real Estate and Industrials.

Against the trend, Twin Securities opened a new position in Allergan plc worth $38.8M.

  • Twin Securities's largest Q3 2014 buy was Allergan plc: 160,935 shares worth $38.8M.
  • Twin Securities added most to VEREIT, Inc. in Q3 2014, an estimated $43.4M increase.
  • Twin Securities's biggest Q3 2014 reduction was COVIDIEN PLC COM SHS NEW (IRELAND), cutting an estimated $14.3M.
  • Twin Securities fully exited FOREST LABORATORIES INC in Q3 2014, selling an estimated $93.1M.
  • Twin Securities's ten largest holdings make up 92% of its $529M portfolio in Q3 2014.
  • Twin Securities opened 7 new positions and closed 10 in Q3 2014.
  • Twin Securities's portfolio value fell 9.2% quarter-over-quarter to $529M.

Based on Twin Securities's 13F filing for Q3 2014, filed 13 Nov 2014.