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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
-7.81%
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
$540M
AUM Growth
+$7.6M
Cap. Flow
+$61.3M
Cap. Flow %
11.35%
Top 10 Hldgs %
73.25%
Holding
41
New
15
Increased
9
Reduced
4
Closed
13

Top Buys

Rank Stock Value
1
TWC
TIME WARNER CABLE INC NEW COM STK
TWC
+$47.6M
2
AKRX
Akorn Inc
AKRX
+$37.2M
3
VYX icon
NCR Voyix
VYX
+$32.7M
4
ALTR
Altera Corp
ALTR
+$26.1M
5
BXLT
BAXALTA INC COM STK (DE)
BXLT
+$24.6M

Top Sells

Rank Stock Value
1
DTV
DIRECTV COM STK (DE)
DTV
+$180M
2
VER
VEREIT, Inc.
VER
+$21.2M
3
CTRX
CATAMARAN CORP COM STK (CDA)
CTRX
+$18.6M
4
DRC
DRESSER-RAND GROUP INC
DRC
+$10.9M
5
OCR
OMNICARE INC
OCR
+$7.97M

Sector Composition

Rank Sector Weight
1 Healthcare 16.13%
2 Industrials 12.58%
3 Communication Services 12.38%
4 Technology 7.13%
5 Energy 2.11%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ALTR
1
DELISTED
Altera Corp
ALTR
$101M 18.72%
2,017,378
+525,868
+35% +$26.1M
VER
2
DELISTED
VEREIT, Inc.
VER
$63.2M 11.71%
1,636,779
-508,081
-24% -$21.2M
TWC
3
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
$45.7M 8.47%
+254,947
New +$47.6M
HRI icon
4
Herc Holdings
HRI
$5.43B
$33.5M 6.21%
667,808
-27,197
-4% -$1.42M
PRGO icon
5
Perrigo
PRGO
$1.4B
$31.6M 5.85%
200,723
+127,691
+175% +$23.4M
VYX icon
6
NCR Voyix
VYX
$1.06B
$27.4M 5.07%
+1,960,652
New +$32.7M
AKRX
7
DELISTED
Akorn Inc
AKRX
$26.2M 4.85%
918,455
+900,455
+5,003% +$37.2M
PCP
8
DELISTED
PRECISION CASTPARTS CORP
PCP
$23.2M 4.29%
+100,809
New +$21.6M
BXLT
9
DELISTED
BAXALTA INC COM STK (DE)
BXLT
$22.5M 4.17%
+713,307
New +$24.6M
SLH
10
DELISTED
SOLERA HOLDINGS, INC. COM
SLH
$21.1M 3.9%
+390,000
New +$17.7M
VTRS icon
11
Viatris
VTRS
$20.1B
$19.9M 3.69%
494,355
+346,952
+235% +$19.3M
PRGO icon
12
CALL
Perrigo
PRGO
$1.4B
$17.4M 3.23%
110,900
+60,000
+118% +$11M
AGN
13
CALL
DELISTED
Allergan plc
AGN
$17.4M 3.22%
64,000
-29,400
-31% -$9.03M
AGN
14
DELISTED
Allergan plc
AGN
$17.3M 3.2%
63,576
+30,399
+92% +$9.34M
KYTH
15
DELISTED
KYTHERA BIOPHARMACEUTICALS, INC COM
KYTH
$14.4M 2.67%
+191,792
New +$14.3M
HUM icon
16
Humana
HUM
$46.7B
$11.6M 2.14%
64,619
+55,619
+618% +$10.3M
ARMK icon
17
Aramark
ARMK
$15B
$11.2M 2.08%
523,265
+185,174
+55% +$4.23M
EMC
18
DELISTED
EMC CORPORATION
EMC
$11.1M 2.06%
+460,720
New +$11.6M
WMB icon
19
Williams Companies
WMB
$90.5B
$8.48M 1.57%
230,000
+205,000
+820% +$10.2M
MNK
20
DELISTED
MALLINCKRODT PUBLIC LIMITED COMPANY
MNK
$5.58M 1.03%
+87,237
New +$8.64M
YHOO
21
DELISTED
Yahoo Inc
YHOO
$2.92M 0.54%
+101,000
New +$3.5M
KHC icon
22
CALL
Kraft Heinz
KHC
$30.4B
$2.21M 0.41%
+31,400
New +$2.37M
T icon
23
PUT
AT&T
T
$165B
$1.97M 0.37%
80,234
-237,526
-75% -$6.06M
PFE icon
24
Pfizer
PFE
$140B
$952K 0.18%
+31,936
New +$1.02M
GNW icon
25
Genworth Financial
GNW
$3.8B
$785K 0.15%
+170,000
New +$1M
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
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Twin Securities's Q3 2015 Portfolio in Review

As of Q3 2015, Twin Securities held 41 positions worth $540M, up 1.4% from $532M the previous quarter. Its ten largest holdings account for 73% of the portfolio.

Twin Securities deployed $61.3M of net new capital in Q3 2015, opening 15 new positions and adding to 9 existing holdings. Its largest new stake was TIME WARNER CABLE INC NEW COM STK: 254,947 shares worth $45.7M.

By sector, the portfolio is most concentrated in Healthcare at 16% of assets, up from 7.7% a quarter earlier, followed by Industrials and Communication Services.

On the sell side, the largest reduction was VEREIT, Inc., an estimated $21.2M trimmed.

  • Twin Securities's largest Q3 2015 buy was TIME WARNER CABLE INC NEW COM STK: 254,947 shares worth $45.7M.
  • Twin Securities added most to Akorn Inc in Q3 2015, an estimated $37.2M increase.
  • Twin Securities's biggest Q3 2015 reduction was VEREIT, Inc., cutting an estimated $21.2M.
  • Twin Securities fully exited DIRECTV COM STK (DE) in Q3 2015, selling an estimated $180M.
  • Twin Securities's ten largest holdings make up 73% of its $540M portfolio in Q3 2015.
  • Twin Securities opened 15 new positions and closed 13 in Q3 2015.
  • Twin Securities's portfolio value rose 1.4% quarter-over-quarter to $540M.

Based on Twin Securities's 13F filing for Q3 2015, filed 16 Nov 2015.