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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
+0.15%
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
$352M
AUM Growth
-$231M
Cap. Flow
-$222M
Cap. Flow %
-63.13%
Top 10 Hldgs %
94.7%
Holding
26
New
6
Increased
2
Reduced
6
Closed
12

Top Buys

Rank Stock Value
1
NXPI icon
NXP Semiconductors
NXPI
+$25.4M
2
ESRX
Express Scripts Holding Company
ESRX
+$15M
3
CAVM
Cavium, Inc.
CAVM
+$12.8M
4
T icon
AT&T
T
+$7.41M
5
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
+$3.95M

Top Sells

Rank Stock Value
1
TWX
Time Warner Inc
TWX
+$52.6M
2
MON
Monsanto Co
MON
+$47M
3
AET
Aetna Inc
AET
+$36.1M
4
AABA
Altaba Inc
AABA
+$27.2M
5
AKRX
Akorn Inc
AKRX
+$25.5M

Sector Composition

Rank Sector Weight
1 Technology 51.48%
2 Financials 20.72%
3 Healthcare 4.39%
4 Communication Services 3.45%
5 Real Estate 1.13%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MULE
26
DELISTED
MuleSoft, Inc.
MULE
– –
-66,050
Closed -$2.9M
1
2

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AFT
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SCM
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ACM
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Twin Securities's Q2 2018 Portfolio in Review

As of Q2 2018, Twin Securities held 26 positions worth $352M, down 40% from $583M the previous quarter. Its ten largest holdings account for 95% of the portfolio.

Twin Securities withdrew a net $222M in Q2 2018, closing 12 positions and reducing 6 holdings. Its most notable exit was Time Warner Inc, an estimated $52.6M position sold in full.

By sector, the portfolio is most concentrated in Technology at 51% of assets, up from 32% a quarter earlier, followed by Financials and Healthcare.

Against the trend, Twin Securities opened a new position in Express Scripts Holding Company worth $15.4M.

  • Twin Securities's largest Q2 2018 buy was Express Scripts Holding Company: 200,000 shares worth $15.4M.
  • Twin Securities added most to NXP Semiconductors in Q2 2018, an estimated $25.4M increase.
  • Twin Securities's biggest Q2 2018 reduction was Aetna Inc, cutting an estimated $36.1M.
  • Twin Securities fully exited Time Warner Inc in Q2 2018, selling an estimated $52.6M.
  • Twin Securities's ten largest holdings make up 95% of its $352M portfolio in Q2 2018.
  • Twin Securities opened 6 new positions and closed 12 in Q2 2018.
  • Twin Securities's portfolio value fell 40% quarter-over-quarter to $352M.

Based on Twin Securities's 13F filing for Q2 2018, filed 14 Aug 2018.