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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
+13.16%
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
$554M
AUM Growth
-$247M
Cap. Flow
-$262M
Cap. Flow %
-47.34%
Top 10 Hldgs %
79.32%
Holding
41
New
7
Increased
6
Reduced
10
Closed
17

Top Buys

Rank Stock Value
1
LNKD
LinkedIn Corporation
LNKD
+$53.3M
2
YHOO
Yahoo Inc
YHOO
+$44M
3
ALR
Alere Inc
ALR
+$32.2M
4
MDVN
MEDIVATION, INC.
MDVN
+$26.1M
5
EMC
EMC CORPORATION
EMC
+$21.7M

Top Sells

Rank Stock Value
1
TWC
TIME WARNER CABLE INC NEW COM STK
TWC
+$148M
2
BXLT
BAXALTA INC COM STK (DE)
BXLT
+$117M
3
SNDK
SANDISK CORP
SNDK
+$110M
4
VER
VEREIT, Inc.
VER
+$40.2M
5
CVC
CABLEVISION SYS CP NY GRP CL-A
CVC
+$17.8M

Sector Composition

Rank Sector Weight
1 Healthcare 23.13%
2 Communication Services 13.35%
3 Energy 9.9%
4 Technology 7.12%
5 Industrials 3.02%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BHC icon
26
CALL
Bausch Health
BHC
$1.65B
– –
-75,000
Closed -$1.97M
BHC icon
27
Bausch Health
BHC
$1.65B
– –
-127,100
Closed -$3.34M
BHC icon
28
PUT
Bausch Health
BHC
$1.65B
– –
-125,000
Closed -$3.29M
ODP
29
CALL
DELISTED
ODP
ODP
– –
-50,000
Closed -$3.55M
PFE icon
30
CALL
Pfizer
PFE
$140B
– –
-421,600
Closed -$11.9M
VYX icon
31
NCR Voyix
VYX
$1.06B
– –
-128,102
Closed -$2.32M
SGYP
32
DELISTED
Synergy Pharmaceuticals, Inc Common Stock
SGYP
– –
-1,687,115
Closed -$4.66M
CVC
33
DELISTED
CABLEVISION SYS CP NY GRP CL-A
CVC
– –
-540,456
Closed -$17.8M
BXLT
34
DELISTED
BAXALTA INC COM STK (DE)
BXLT
– –
-2,898,760
Closed -$117M
SNDK
35
DELISTED
SANDISK CORP
SNDK
– –
-1,447,757
Closed -$110M
JAH
36
DELISTED
JARDEN CORPORATION
JAH
– –
-274,720
Closed -$16.2M
CAM
37
DELISTED
CAMERON INTERNATIONAL CORPORATION
CAM
– –
-113,057
Closed -$7.58M
HOT
38
CALL
DELISTED
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
HOT
– –
-63,000
Closed -$5.26M
HOT
39
DELISTED
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
HOT
– –
-79,900
Closed -$6.67M
SPLS
40
CALL
DELISTED
Staples Inc
SPLS
– –
-200,000
Closed -$2.21M
TWC
41
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
– –
-721,152
Closed -$148M
1
2

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LPFG
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AFT
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SCM
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ACM
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Twin Securities's Q2 2016 Portfolio in Review

As of Q2 2016, Twin Securities held 41 positions worth $554M, down 31% from $801M the previous quarter. Its ten largest holdings account for 79% of the portfolio.

Twin Securities withdrew a net $262M in Q2 2016, closing 17 positions and reducing 10 holdings. Its most notable exit was TIME WARNER CABLE INC NEW COM STK, an estimated $148M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 23% of assets, up from 15% a quarter earlier, followed by Communication Services and Energy.

Against the trend, Twin Securities opened a new position in LinkedIn Corporation worth $72.7M.

  • Twin Securities's largest Q2 2016 buy was LinkedIn Corporation: 384,354 shares worth $72.7M.
  • Twin Securities added most to Yahoo Inc in Q2 2016, an estimated $44M increase.
  • Twin Securities's biggest Q2 2016 reduction was VEREIT, Inc., cutting an estimated $40.2M.
  • Twin Securities fully exited TIME WARNER CABLE INC NEW COM STK in Q2 2016, selling an estimated $148M.
  • Twin Securities's ten largest holdings make up 79% of its $554M portfolio in Q2 2016.
  • Twin Securities opened 7 new positions and closed 17 in Q2 2016.
  • Twin Securities's portfolio value fell 31% quarter-over-quarter to $554M.

Based on Twin Securities's 13F filing for Q2 2016, filed 15 Aug 2016.