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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
+1.83%
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
$168M
AUM Growth
-$96.8M
Cap. Flow
-$98.3M
Cap. Flow %
-58.55%
Top 10 Hldgs %
95.51%
Holding
32
New
14
Increased
2
Reduced
–
Closed
13

Top Buys

Rank Stock Value
1
KSU
Kansas City Southern
KSU
+$63.7M
2
WTW icon
Willis Towers Watson
WTW
+$19.2M
3
ADI icon
Analog Devices
ADI
+$15.1M
4
STMP
Stamps.com, Inc.
STMP
+$4.76M
5
NUAN
Nuance Communications, Inc.
NUAN
+$3.02M

Top Sells

Rank Stock Value
1
WORK
Slack Technologies, Inc.
WORK
+$87M
2
ALXN
Alexion Pharmaceuticals
ALXN
+$65M
3
MXIM
Maxim Integrated Products
MXIM
+$64.9M
4
PFPT
Proofpoint, Inc.
PFPT
+$9.71M
5
GRA
W.R. Grace & Co.
GRA
+$3.82M

Sector Composition

Rank Sector Weight
1 Industrials 44.07%
2 Financials 12.08%
3 Technology 11.25%
4 Energy 1.35%
5 Communication Services 1.04%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PFPT
26
DELISTED
Proofpoint, Inc.
PFPT
– –
-55,867
Closed -$9.71M
MXIM
27
DELISTED
Maxim Integrated Products
MXIM
– –
-616,245
Closed -$64.9M
ALXN
28
DELISTED
Alexion Pharmaceuticals
ALXN
– –
-353,881
Closed -$65M
WORK
29
DELISTED
Slack Technologies, Inc.
WORK
– –
-1,963,061
Closed -$87M
WPF.WS
30
DELISTED
Foley Trasimene Acquisition Corp. Warrants, each whole warrant exercisable for one share of Class A
WPF.WS
– –
-256,560
Closed -$534K
PRAH
31
DELISTED
PRA Health Sciences, Inc.
PRAH
– –
-11,075
Closed -$1.83M
GRA
32
DELISTED
W.R. Grace & Co.
GRA
– –
-55,227
Closed -$3.82M
1
2

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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
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ACM
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SAM
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HM
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Twin Securities's Q3 2021 Portfolio in Review

As of Q3 2021, Twin Securities held 32 positions worth $168M, down 37% from $265M the previous quarter. Its ten largest holdings account for 96% of the portfolio.

Twin Securities withdrew a net $98.3M in Q3 2021, closing 13 positions. Its most notable exit was Slack Technologies, Inc., an estimated $87M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 44% of assets, up from 5.6% a quarter earlier, followed by Financials and Technology.

Against the trend, Twin Securities opened a new position in Willis Towers Watson worth $20.1M.

  • Twin Securities's largest Q3 2021 buy was Willis Towers Watson: 86,379 shares worth $20.1M.
  • Twin Securities added most to Kansas City Southern in Q3 2021, an estimated $63.7M increase.
  • Twin Securities fully exited Slack Technologies, Inc. in Q3 2021, selling an estimated $87M.
  • Twin Securities's ten largest holdings make up 96% of its $168M portfolio in Q3 2021.
  • Twin Securities opened 14 new positions and closed 13 in Q3 2021.
  • Twin Securities's portfolio value fell 37% quarter-over-quarter to $168M.

Based on Twin Securities's 13F filing for Q3 2021, filed 15 Nov 2021.