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TS
Twin Securities Portfolio holdings
AUM
$206M
1-Year Est. Return
77.79%
This Fund
S&P 500
This Quarter
Est. Return
+27.49%
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
$851M
AUM Growth
+$297M
(+54%)
Cap. Flow
+$225M
Cap. Flow
% of AUM
26.4%
Top 10 Holdings %
Top 10 Hldgs %
85.59%
Holding
33
New
19
Increased
3
Reduced
5
Closed
6
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
SLXP
SALIX PHARMACEUTICALS LTD DEL
SLXP
|
+$175M |
| 2 |
DTV
DIRECTV COM STK (DE)
DTV
|
+$104M |
| 3 |
PCYC
PHARMACYCLICS INC
PCYC
|
+$55.7M |
| 4 |
AKRX
Akorn Inc
AKRX
|
+$16.7M |
| 5 |
TWC
TIME WARNER CABLE INC NEW COM STK
TWC
|
+$10.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
COV
COVIDIEN PLC COM SHS NEW (IRELAND)
COV
|
+$101M |
| 2 |
AGN
Allergan plc
AGN
|
+$44.6M |
| 3 |
VER
VEREIT, Inc.
VER
|
+$40.2M |
| 4 |
AGN
Allergan Inc
AGN
|
+$28.6M |
| 5 |
Lamar Advertising Co
LAMR
|
+$12M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 12.94% |
| 2 | Communication Services | 8.92% |
| 3 | Industrials | 6.04% |
| 4 | Healthcare | 1.97% |
| 5 | Consumer Discretionary | 1.23% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
SLXP
1
DELISTED
SALIX PHARMACEUTICALS LTD DEL
SLXP
| $206M | 24.16% |
+1,189,192
| New | +$175M |
|
|
VER
2
DELISTED
VEREIT, Inc.
VER
| $116M | 13.66% |
2,359,663
-840,699
| -26% | -$40.2M |
|
|
DTV
3
DELISTED
DIRECTV COM STK (DE)
DTV
| $103M | 12.06% |
+1,205,714
| New | +$104M |
|
|
TWC
4
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| $75.9M | 8.92% |
506,442
+72,439
| +17% | +$10.8M |
|
|
PCYC
5
DELISTED
PHARMACYCLICS INC
PCYC
| $73.8M | 8.68% |
+288,497
| New | +$55.7M |
|
6
Herc Holdings
HRI
$5.43B
| $45.9M | 5.39% |
705,305
-42,000
| -6% | -$2.81M |
|
|
AGN
7
CALL
DELISTED
Allergan plc
AGN
| $37.1M | 4.36% |
124,500
-73,700
| -37% | -$21M |
|
|
SLXP
8
CALL
DELISTED
SALIX PHARMACEUTICALS LTD DEL
SLXP
| $31.9M | 3.75% |
+184,400
| New | +$27.1M |
|
9
CALL
Comcast
CMCSA
$79.1B
| $19.8M | 2.32% |
+700,000
| New | +$20.1M |
|
|
AGN
10
PUT
DELISTED
Allergan plc
AGN
| $19.3M | 2.27% |
65,000
+60,000
| +1,200% | +$17.1M |
|
|
AKRX
11
DELISTED
Akorn Inc
AKRX
| $17.5M | 2.05% |
+367,323
| New | +$16.7M |
|
12
PUT
AT&T
T
$165B
| $15M | 1.76% |
+606,392
| New | +$15.4M |
|
|
PCYC
13
CALL
DELISTED
PHARMACYCLICS INC
PCYC
| $12.8M | 1.51% |
+50,200
| New | +$9.69M |
|
|
TRW
14
DELISTED
TRW AUTOMOTIVE HOLDINGS CORP
TRW
| $10.5M | 1.23% |
+99,900
| New | +$10.4M |
|
15
Zimmer Biomet
ZBH
$17.7B
| $8.99M | 1.06% |
+78,795
| New | +$8.99M |
|
|
LO
16
DELISTED
LORILLARD INC COM STK
LO
| $8.75M | 1.03% |
+133,900
| New | +$8.91M |
|
|
AGN
17
DELISTED
Allergan plc
AGN
| $7.73M | 0.91% |
25,978
-156,518
| -86% | -$44.6M |
|
18
Knowles
KN
$3.22B
| $7.49M | 0.88% |
388,768
-552,274
| -59% | -$11.5M |
|
|
CTRX
19
DELISTED
CATAMARAN CORP COM STK (CDA)
CTRX
| $6.25M | 0.74% |
+105,000
| New | +$5.34M |
|
|
DRC
20
DELISTED
DRESSER-RAND GROUP INC
DRC
| $6.16M | 0.72% |
+76,601
| New | +$6.2M |
|
21
Aramark
ARMK
$15B
| $5.51M | 0.65% |
+241,141
| New | +$5.52M |
|
|
KRFT
22
CALL
DELISTED
KRAFT FOODS GROUP INC COM STK (VA)
KRFT
| $5.5M | 0.65% |
+63,100
| New | +$4.17M |
|
|
ALTR
23
DELISTED
Altera Corp
ALTR
| $4.23M | 0.5% |
+98,500
| New | +$3.52M |
|
|
24
CALL
Herc Holdings
HRI
$5.43B
| $2.66M | 0.31% |
+40,867
| New | +$2.73M |
|
|
VER
25
PUT
DELISTED
VEREIT, Inc.
VER
| $1.97M | 0.23% |
40,000
+39,600
| +9,900% | +$1.89M |
|
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Twin Securities's Q1 2015 Portfolio in Review
As of Q1 2015, Twin Securities held 33 positions worth $851M, up 54% from $554M the previous quarter. Its ten largest holdings account for 86% of the portfolio.
Twin Securities deployed $225M of net new capital in Q1 2015, opening 19 new positions and adding to 3 existing holdings. Its largest new stake was SALIX PHARMACEUTICALS LTD DEL: 1,189,192 shares worth $206M.
By sector, the portfolio is most concentrated in Technology at 13% of assets, up from 4% a quarter earlier, followed by Communication Services and Industrials.
On the sell side, the largest reduction was Allergan plc, an estimated $44.6M trimmed.
- Twin Securities's largest Q1 2015 buy was SALIX PHARMACEUTICALS LTD DEL: 1,189,192 shares worth $206M.
- Twin Securities added most to TIME WARNER CABLE INC NEW COM STK in Q1 2015, an estimated $10.8M increase.
- Twin Securities's biggest Q1 2015 reduction was Allergan plc, cutting an estimated $44.6M.
- Twin Securities fully exited COVIDIEN PLC COM SHS NEW (IRELAND) in Q1 2015, selling an estimated $101M.
- Twin Securities's ten largest holdings make up 86% of its $851M portfolio in Q1 2015.
- Twin Securities opened 19 new positions and closed 6 in Q1 2015.
- Twin Securities's portfolio value rose 54% quarter-over-quarter to $851M.
Based on Twin Securities's 13F filing for Q1 2015, filed 15 May 2015.