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TS
Twin Securities Portfolio holdings
AUM
$223M
1-Year Est. Return
91.15%
This Fund
S&P 500
This Quarter
Est. Return
+7.3%
1 Year Est. Return
+91.15%
3 Year Est. Return
+506.28%
5 Year Est. Return
+1,602.72%
10 Year Est. Return
+13,240.38%
AUM
$611M
AUM Growth
+$71.7M
(+13%)
Cap. Flow
+$46.2M
Cap. Flow
% of AUM
7.56%
Top 10 Holdings %
Top 10 Hldgs %
79.76%
Holding
38
New
10
Increased
14
Reduced
3
Closed
11
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Perrigo
PRGO
|
+$39.8M |
| 2 |
AKRX
Akorn Inc
AKRX
|
+$35.3M |
| 3 |
TWC
TIME WARNER CABLE INC NEW COM STK
TWC
|
+$31.4M |
| 4 |
PCP
PRECISION CASTPARTS CORP
PCP
|
+$23.7M |
| 5 |
JAH
JARDEN CORPORATION
JAH
|
+$14.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ALTR
Altera Corp
ALTR
|
+$101M |
| 2 |
Viatris
VTRS
|
+$19.9M |
| 3 |
KYTH
KYTHERA BIOPHARMACEUTICALS, INC COM
KYTH
|
+$14.4M |
| 4 |
Humana
HUM
|
+$11.6M |
| 5 |
Williams Companies
WMB
|
+$8.48M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 35.19% |
| 2 | Communication Services | 17.37% |
| 3 | Industrials | 17.06% |
| 4 | Real Estate | 11.34% |
| 5 | Technology | 8.56% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
TWC
1
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| $78.7M | 12.87% |
424,402
+169,455
| +66% | +$31.4M |
|
|
AKRX
2
DELISTED
Akorn Inc
AKRX
| $76.4M | 12.49% |
2,046,719
+1,128,264
| +123% | +$35.3M |
|
|
3
Perrigo
PRGO
$1.99B
| $66.5M | 10.87% |
459,305
+258,582
| +129% | +$39.8M |
|
|
VER
4
DELISTED
VEREIT, Inc.
VER
| $62.6M | 10.23% |
1,577,803
-58,976
| -4% | -$2.42M |
|
|
PCP
5
DELISTED
PRECISION CASTPARTS CORP
PCP
| $47.1M | 7.71% |
203,173
+102,364
| +102% | +$23.7M |
|
6
NCR Voyix
VYX
$1.15B
| $38.6M | 6.31% |
2,570,398
+609,746
| +31% | +$9.71M |
|
|
BXLT
7
DELISTED
BAXALTA INC COM STK (DE)
BXLT
| $32.2M | 5.26% |
824,782
+111,475
| +16% | +$3.89M |
|
|
AGN
8
CALL
DELISTED
Allergan plc
AGN
| $30.2M | 4.94% |
96,500
+32,500
| +51% | +$9.68M |
|
9
Herc Holdings
HRI
$4.84B
| $28.5M | 4.66% |
668,325
+517
| +0.1% | +$26K |
|
|
SLH
10
DELISTED
SOLERA HOLDINGS, INC. COM
SLH
| $26.9M | 4.4% |
490,439
+100,439
| +26% | +$5.45M |
|
|
JAH
11
DELISTED
JARDEN CORPORATION
JAH
| $17M | 2.79% |
+298,300
| New | +$14.9M |
|
|
AGN
12
DELISTED
Allergan plc
AGN
| $16.4M | 2.68% |
52,310
-11,266
| -18% | -$3.35M |
|
|
YHOO
13
DELISTED
Yahoo Inc
YHOO
| $14.5M | 2.37% |
436,000
+335,000
| +332% | +$11.2M |
|
|
EMC
14
DELISTED
EMC CORPORATION
EMC
| $13.8M | 2.26% |
536,847
+76,127
| +17% | +$1.98M |
|
|
MNK
15
DELISTED
MALLINCKRODT PUBLIC LIMITED COMPANY
MNK
| $12.5M | 2.05% |
167,547
+80,310
| +92% | +$5.41M |
|
16
Aramark
ARMK
$15B
| $11.6M | 1.9% |
499,218
-24,047
| -5% | -$550K |
|
|
SGYP
17
DELISTED
Synergy Pharmaceuticals, Inc Common Stock
SGYP
| $8.2M | 1.34% |
+1,445,732
| New | +$8.81M |
|
18
PUT
iShares Russell 2000 ETF
IWM
$79B
| $5.63M | 0.92% |
+50,000
| New | +$5.77M |
|
|
AKRX
19
CALL
DELISTED
Akorn Inc
AKRX
| $5.04M | 0.82% |
+135,000
| New | +$4.22M |
|
|
ODP
20
DELISTED
ODP
ODP
| $4.82M | 0.79% |
+85,500
| New | +$5.69M |
|
|
HOT
21
DELISTED
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
HOT
| $3.98M | 0.65% |
+57,510
| New | +$4.1M |
|
|
NYRT
22
DELISTED
New York REIT, Inc.
NYRT
| $2.76M | 0.45% |
+23,992
| New | +$2.72M |
|
23
CALL
Bausch Health
BHC
$2.3B
| $2.03M | 0.33% |
+20,000
| New | +$2.25M |
|
|
ASRT
24
DELISTED
Assertio
ASRT
| $1.9M | 0.31% |
1,750
+1,567
| +856% | +$1.76M |
|
|
SPLS
25
DELISTED
Staples Inc
SPLS
| $1.89M | 0.31% |
+200,000
| New | +$2.35M |
|
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Twin Securities's Q4 2015 Portfolio in Review
As of Q4 2015, Twin Securities held 38 positions worth $611M, up 13% from $540M the previous quarter. Its ten largest holdings account for 80% of the portfolio.
Twin Securities deployed $46.2M of net new capital in Q4 2015, opening 10 new positions and adding to 14 existing holdings. Its largest new stake was JARDEN CORPORATION: 298,300 shares worth $17M.
By sector, the portfolio is most concentrated in Healthcare at 35% of assets, up from 25% a quarter earlier, followed by Communication Services and Industrials.
On the sell side, the largest reduction was Allergan plc, an estimated $3.35M trimmed.
- Twin Securities's largest Q4 2015 buy was JARDEN CORPORATION: 298,300 shares worth $17M.
- Twin Securities added most to Perrigo in Q4 2015, an estimated $39.8M increase.
- Twin Securities's biggest Q4 2015 reduction was Allergan plc, cutting an estimated $3.35M.
- Twin Securities fully exited Altera Corp in Q4 2015, selling an estimated $101M.
- Twin Securities's ten largest holdings make up 80% of its $611M portfolio in Q4 2015.
- Twin Securities opened 10 new positions and closed 11 in Q4 2015.
- Twin Securities's portfolio value rose 13% quarter-over-quarter to $611M.
Based on Twin Securities's 13F filing for Q4 2015, filed 16 Feb 2016.