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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
-7.81%
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
$540M
AUM Growth
+$7.6M
Cap. Flow
+$61.3M
Cap. Flow %
11.35%
Top 10 Hldgs %
73.25%
Holding
41
New
15
Increased
9
Reduced
4
Closed
13

Top Buys

Rank Stock Value
1
TWC
TIME WARNER CABLE INC NEW COM STK
TWC
+$47.6M
2
AKRX
Akorn Inc
AKRX
+$37.2M
3
VYX icon
NCR Voyix
VYX
+$32.7M
4
ALTR
Altera Corp
ALTR
+$26.1M
5
BXLT
BAXALTA INC COM STK (DE)
BXLT
+$24.6M

Top Sells

Rank Stock Value
1
DTV
DIRECTV COM STK (DE)
DTV
+$180M
2
VER
VEREIT, Inc.
VER
+$21.2M
3
CTRX
CATAMARAN CORP COM STK (CDA)
CTRX
+$18.6M
4
DRC
DRESSER-RAND GROUP INC
DRC
+$10.9M
5
OCR
OMNICARE INC
OCR
+$7.97M

Sector Composition

Rank Sector Weight
1 Healthcare 16.13%
2 Industrials 12.58%
3 Communication Services 12.38%
4 Technology 7.13%
5 Energy 2.11%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EMC
26
CALL
DELISTED
EMC CORPORATION
EMC
$725K 0.13%
+30,000
New +$758K
ASRT
27
DELISTED
Assertio
ASRT
$207K 0.04%
+183
New +$312K
BDBD
28
DELISTED
BOULDER BRANDS INC
BDBD
$201K 0.04%
+24,615
New +$197K
VTRS icon
29
PUT
Viatris
VTRS
$20.1B
– –
-80,000
Closed -$5.43M
WEN icon
30
Wendy's
WEN
$1.33B
– –
-80,562
Closed -$909K
ZBH icon
31
Zimmer Biomet
ZBH
$17.7B
– –
-37,233
Closed -$3.95M
CTLT
32
DELISTED
CATALENT, INC.
CTLT
– –
-22,499
Closed -$660K
SGYP
33
DELISTED
Synergy Pharmaceuticals, Inc Common Stock
SGYP
– –
-160,000
Closed -$1.33M
AET
34
DELISTED
Aetna Inc
AET
– –
-4,000
Closed -$510K
NRF
35
DELISTED
NorthStar Realty Finance Corp.
NRF
– –
-25,000
Closed -$795K
OCR
36
DELISTED
OMNICARE INC
OCR
– –
-84,538
Closed -$7.97M
DTV
37
DELISTED
DIRECTV COM STK (DE)
DTV
– –
-1,939,491
Closed -$180M
DTV
38
PUT
DELISTED
DIRECTV COM STK (DE)
DTV
– –
-42,000
Closed -$3.9M
CTRX
39
DELISTED
CATAMARAN CORP COM STK (CDA)
CTRX
– –
-304,194
Closed -$18.6M
KRFT
40
CALL
DELISTED
KRAFT FOODS GROUP INC COM STK (VA)
KRFT
– –
-63,100
Closed -$5.37M
DRC
41
DELISTED
DRESSER-RAND GROUP INC
DRC
– –
-127,759
Closed -$10.9M
1
2

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ASI
All-Stars Investment Hong Kong $206M AUM 31.57% 1-Year Est. Return
SC
Stance Capital Boston, Massachusetts $206M AUM 22.76% 1-Year Est. Return
LPFG
Landing Point Financial Group Avon, Ohio $206M AUM 15.97% 1-Year Est. Return
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
Harvest Management New York $206M AUM 95.44% 1-Year Est. Return

Twin Securities's Q3 2015 Portfolio in Review

As of Q3 2015, Twin Securities held 41 positions worth $540M, up 1.4% from $532M the previous quarter. Its ten largest holdings account for 73% of the portfolio.

Twin Securities deployed $61.3M of net new capital in Q3 2015, opening 15 new positions and adding to 9 existing holdings. Its largest new stake was TIME WARNER CABLE INC NEW COM STK: 254,947 shares worth $45.7M.

By sector, the portfolio is most concentrated in Healthcare at 16% of assets, up from 7.7% a quarter earlier, followed by Industrials and Communication Services.

On the sell side, the largest reduction was VEREIT, Inc., an estimated $21.2M trimmed.

  • Twin Securities's largest Q3 2015 buy was TIME WARNER CABLE INC NEW COM STK: 254,947 shares worth $45.7M.
  • Twin Securities added most to Akorn Inc in Q3 2015, an estimated $37.2M increase.
  • Twin Securities's biggest Q3 2015 reduction was VEREIT, Inc., cutting an estimated $21.2M.
  • Twin Securities fully exited DIRECTV COM STK (DE) in Q3 2015, selling an estimated $180M.
  • Twin Securities's ten largest holdings make up 73% of its $540M portfolio in Q3 2015.
  • Twin Securities opened 15 new positions and closed 13 in Q3 2015.
  • Twin Securities's portfolio value rose 1.4% quarter-over-quarter to $540M.

Based on Twin Securities's 13F filing for Q3 2015, filed 16 Nov 2015.