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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
+26.9%
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
$115M
AUM Growth
-$99.9M
Cap. Flow
-$113M
Cap. Flow %
-98.35%
Top 10 Hldgs %
95.86%
Holding
32
New
9
Increased
3
Reduced
3
Closed
17

Top Buys

Rank Stock Value
1
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
+$22.2M
2
LHCG
LHC Group LLC
LHCG
+$16.8M
3
AAWW
Atlas Air Worldwide Holdings, Inc.
AAWW
+$8.12M
4
ONEM
1Life Healthcare
ONEM
+$3.72M
5
ATVI
Activision Blizzard
ATVI
+$2.3M

Top Sells

Rank Stock Value
1
ZEN
ZENDESK INC
ZEN
+$54.9M
2
GBT
Global Blood Therapeutics, Inc.
GBT
+$25.7M
3
CHNG
Change Healthcare Inc. Common Stock
CHNG
+$25.4M
4
TWTR
Twitter, Inc.
TWTR
+$13.2M
5
AVLR
Avalara, Inc.
AVLR
+$11.2M

Sector Composition

Rank Sector Weight
1 Healthcare 37.95%
2 Industrials 21.53%
3 Energy 14.3%
4 Technology 12.26%
5 Communication Services 9.89%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TWTR
26
CALL
DELISTED
Twitter, Inc.
TWTR
– –
-128,700
Closed -$5.64M
TWTR
27
DELISTED
Twitter, Inc.
TWTR
– –
-301,385
Closed -$13.2M
AVLR
28
DELISTED
Avalara, Inc.
AVLR
– –
-121,589
Closed -$11.2M
GBT
29
DELISTED
Global Blood Therapeutics, Inc.
GBT
– –
-376,669
Closed -$25.7M
CHNG
30
DELISTED
Change Healthcare Inc. Common Stock
CHNG
– –
-923,194
Closed -$25.4M
NLSN
31
DELISTED
Nielsen Holdings plc
NLSN
– –
-256,722
Closed -$7.12M
BHVN
32
DELISTED
Biohaven Pharmaceutical Holding Company Ltd.
BHVN
– –
-55,000
Closed -$8.31M
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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Twin Securities's Q4 2022 Portfolio in Review

As of Q4 2022, Twin Securities held 32 positions worth $115M, down 47% from $215M the previous quarter. Its ten largest holdings account for 96% of the portfolio.

Twin Securities withdrew a net $113M in Q4 2022, closing 17 positions and reducing 3 holdings. Its most notable exit was ZENDESK INC, an estimated $54.9M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 38% of assets, up from 21% a quarter earlier, followed by Industrials and Energy.

Against the trend, Twin Securities opened a new position in Horizon Therapeutics Public Limited Company Ordinary Shares worth $30.4M.

  • Twin Securities's largest Q4 2022 buy was Horizon Therapeutics Public Limited Company Ordinary Shares: 266,789 shares worth $30.4M.
  • Twin Securities added most to Atlas Air Worldwide Holdings, Inc. in Q4 2022, an estimated $8.12M increase.
  • Twin Securities's biggest Q4 2022 reduction was Shaw Communications Inc., cutting an estimated $10.8M.
  • Twin Securities fully exited ZENDESK INC in Q4 2022, selling an estimated $54.9M.
  • Twin Securities's ten largest holdings make up 96% of its $115M portfolio in Q4 2022.
  • Twin Securities opened 9 new positions and closed 17 in Q4 2022.
  • Twin Securities's portfolio value fell 47% quarter-over-quarter to $115M.

Based on Twin Securities's 13F filing for Q4 2022, filed 14 Feb 2023.