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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
+1.11%
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
$680M
AUM Growth
-$60.3M
Cap. Flow
-$61.6M
Cap. Flow %
-9.06%
Top 10 Hldgs %
99.07%
Holding
27
New
3
Increased
7
Reduced
3
Closed
14

Top Buys

Rank Stock Value
1
AKRX
Akorn Inc
AKRX
+$81.1M
2
AET
Aetna Inc
AET
+$78.8M
3
SNI
Scripps Networks Interactive, Inc Common Class A
SNI
+$14.1M
4
LUMN icon
Lumen
LUMN
+$12.8M
5
NXPI icon
NXP Semiconductors
NXPI
+$8.5M

Top Sells

Rank Stock Value
1
ALR
Alere Inc
ALR
+$124M
2
AABA
Altaba Inc
AABA
+$50.7M
3
KITE
Kite Pharma, Inc.
KITE
+$40.1M
4
PRXL
Parexel International Corp
PRXL
+$13.7M
5
COL
Rockwell Collins
COL
+$9.15M

Sector Composition

Rank Sector Weight
1 Technology 28.81%
2 Communication Services 19.18%
3 Financials 12.17%
4 Materials 6.85%
5 Real Estate 0.6%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PRXL
26
DELISTED
Parexel International Corp
PRXL
– –
-155,826
Closed -$13.7M
NLSN
27
DELISTED
Nielsen Holdings plc
NLSN
– –
-60,000
Closed -$2.49M
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
Harvest Management New York $206M AUM 95.44% 1-Year Est. Return

Twin Securities's Q4 2017 Portfolio in Review

As of Q4 2017, Twin Securities held 27 positions worth $680M, down 8.2% from $740M the previous quarter. Its ten largest holdings account for 99% of the portfolio.

Twin Securities withdrew a net $61.6M in Q4 2017, closing 14 positions and reducing 3 holdings. Its most notable exit was Alere Inc, an estimated $124M position sold in full.

By sector, the portfolio is most concentrated in Technology at 29% of assets, down from 31% a quarter earlier, followed by Communication Services and Financials.

Against the trend, Twin Securities opened a new position in Aetna Inc worth $82.8M.

  • Twin Securities's largest Q4 2017 buy was Aetna Inc: 458,805 shares worth $82.8M.
  • Twin Securities added most to Akorn Inc in Q4 2017, an estimated $81.1M increase.
  • Twin Securities's biggest Q4 2017 reduction was Altaba Inc, cutting an estimated $50.7M.
  • Twin Securities fully exited Alere Inc in Q4 2017, selling an estimated $124M.
  • Twin Securities's ten largest holdings make up 99% of its $680M portfolio in Q4 2017.
  • Twin Securities opened 3 new positions and closed 14 in Q4 2017.
  • Twin Securities's portfolio value fell 8.2% quarter-over-quarter to $680M.

Based on Twin Securities's 13F filing for Q4 2017, filed 14 Feb 2018.