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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
+13.15%
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
$740M
AUM Growth
+$117M
Cap. Flow
+$61.1M
Cap. Flow %
8.26%
Top 10 Hldgs %
89.51%
Holding
33
New
12
Increased
7
Reduced
5
Closed
9

Top Buys

Rank Stock Value
1
TWX
Time Warner Inc
TWX
+$66.9M
2
NXPI icon
NXP Semiconductors
NXPI
+$42.1M
3
KITE
Kite Pharma, Inc.
KITE
+$31.1M
4
SNI
Scripps Networks Interactive, Inc Common Class A
SNI
+$24.4M
5
ALR
Alere Inc
ALR
+$23.1M

Top Sells

Rank Stock Value
1
MBLY
Mobileye N.V.
MBLY
+$89M
2
RAI
Reynolds American Inc
RAI
+$66.5M
3
AABA
Altaba Inc
AABA
+$42.4M
4
KATE
Kate Spade & Company
KATE
+$16.3M
5
BRCD
Brocade Communications Systems, Inc. NEW
BRCD
+$12.8M

Sector Composition

Rank Sector Weight
1 Technology 30.7%
2 Healthcare 18.65%
3 Communication Services 14.99%
4 Materials 6.33%
5 Energy 1.18%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JWN
26
CALL
DELISTED
Nordstrom
JWN
– –
-126,000
Closed -$6.03M
JWN
27
DELISTED
Nordstrom
JWN
– –
-22,700
Closed -$1.09M
SMH icon
28
PUT
VanEck Semiconductor ETF
SMH
$67.6B
– –
-400,000
Closed -$16.4M
AKRX
29
CALL
DELISTED
Akorn Inc
AKRX
– –
-99,000
Closed -$3.32M
MBLY
30
CALL
DELISTED
Mobileye N.V.
MBLY
– –
-202,900
Closed -$12.7M
MBLY
31
DELISTED
Mobileye N.V.
MBLY
– –
-1,417,181
Closed -$89M
RAI
32
DELISTED
Reynolds American Inc
RAI
– –
-1,022,527
Closed -$66.5M
KATE
33
DELISTED
Kate Spade & Company
KATE
– –
-880,769
Closed -$16.3M
1
2

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AFT
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Twin Securities's Q3 2017 Portfolio in Review

As of Q3 2017, Twin Securities held 33 positions worth $740M, up 19% from $623M the previous quarter. Its ten largest holdings account for 90% of the portfolio.

Twin Securities deployed $61.1M of net new capital in Q3 2017, opening 12 new positions and adding to 7 existing holdings. Its largest new stake was NXP Semiconductors: 377,625 shares worth $42.7M.

By sector, the portfolio is most concentrated in Technology at 31% of assets, down from 47% a quarter earlier, followed by Healthcare and Communication Services.

On the sell side, the largest reduction was Altaba Inc, an estimated $42.4M trimmed.

  • Twin Securities's largest Q3 2017 buy was NXP Semiconductors: 377,625 shares worth $42.7M.
  • Twin Securities added most to Time Warner Inc in Q3 2017, an estimated $66.9M increase.
  • Twin Securities's biggest Q3 2017 reduction was Altaba Inc, cutting an estimated $42.4M.
  • Twin Securities fully exited Mobileye N.V. in Q3 2017, selling an estimated $89M.
  • Twin Securities's ten largest holdings make up 90% of its $740M portfolio in Q3 2017.
  • Twin Securities opened 12 new positions and closed 9 in Q3 2017.
  • Twin Securities's portfolio value rose 19% quarter-over-quarter to $740M.

Based on Twin Securities's 13F filing for Q3 2017, filed 14 Nov 2017.