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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
+0.56%
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
$801M
AUM Growth
+$190M
Cap. Flow
+$228M
Cap. Flow %
28.43%
Top 10 Hldgs %
82.34%
Holding
42
New
15
Increased
12
Reduced
7
Closed
8

Top Buys

Rank Stock Value
1
SNDK
SANDISK CORP
SNDK
+$104M
2
BXLT
BAXALTA INC COM STK (DE)
BXLT
+$82M
3
TWC
TIME WARNER CABLE INC NEW COM STK
TWC
+$56.1M
4
ALR
Alere Inc
ALR
+$30M
5
HUM icon
Humana
HUM
+$27.5M

Top Sells

Rank Stock Value
1
PRGO icon
Perrigo
PRGO
+$66.5M
2
PCP
PRECISION CASTPARTS CORP
PCP
+$47.1M
3
VYX icon
NCR Voyix
VYX
+$35M
4
SLH
SOLERA HOLDINGS, INC. COM
SLH
+$26.9M
5
VER
VEREIT, Inc.
VER
+$15.7M

Sector Composition

Rank Sector Weight
1 Communication Services 20.64%
2 Healthcare 14.63%
3 Industrials 4.27%
4 Technology 2.45%
5 Energy 1.8%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TWC
1
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
$148M 18.42%
721,152
+296,750
+70% +$56.1M
BXLT
2
DELISTED
BAXALTA INC COM STK (DE)
BXLT
$117M 14.62%
2,898,760
+2,073,978
+251% +$82M
SNDK
3
DELISTED
SANDISK CORP
SNDK
$110M 13.75%
+1,447,757
New +$104M
AGN
4
CALL
DELISTED
Allergan plc
AGN
$63.4M 7.91%
236,500
+140,000
+145% +$40.1M
AKRX
5
DELISTED
Akorn Inc
AKRX
$53M 6.62%
2,252,461
+205,742
+10% +$5.41M
VER
6
DELISTED
VEREIT, Inc.
VER
$52.4M 6.54%
1,181,625
-396,178
-25% -$15.7M
AGN
7
DELISTED
Allergan plc
AGN
$37.4M 4.67%
139,457
+87,147
+167% +$24.9M
ALR
8
DELISTED
Alere Inc
ALR
$31.6M 3.95%
+625,301
New +$30M
HUM icon
9
Humana
HUM
$46.7B
$29M 3.62%
+158,659
New +$27.5M
HRI icon
10
Herc Holdings
HRI
$5.43B
$18M 2.25%
570,104
-98,221
-15% -$2.89M
CVC
11
DELISTED
CABLEVISION SYS CP NY GRP CL-A
CVC
$17.8M 2.23%
+540,456
New +$17.4M
EMC
12
DELISTED
EMC CORPORATION
EMC
$17.3M 2.16%
649,047
+112,200
+21% +$2.84M
JAH
13
DELISTED
JARDEN CORPORATION
JAH
$16.2M 2.02%
274,720
-23,580
-8% -$1.26M
PFE icon
14
CALL
Pfizer
PFE
$140B
$11.9M 1.48%
+421,600
New +$12M
MNK
15
DELISTED
MALLINCKRODT PUBLIC LIMITED COMPANY
MNK
$9.11M 1.14%
148,629
-18,918
-11% -$1.21M
CAM
16
DELISTED
CAMERON INTERNATIONAL CORPORATION
CAM
$7.58M 0.95%
+113,057
New +$7.26M
HOT
17
DELISTED
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
HOT
$6.67M 0.83%
79,900
+22,390
+39% +$1.53M
AKRX
18
CALL
DELISTED
Akorn Inc
AKRX
$6.38M 0.8%
271,100
+136,100
+101% +$3.58M
YHOO
19
DELISTED
Yahoo Inc
YHOO
$6.12M 0.76%
166,300
-269,700
-62% -$8.45M
HOT
20
CALL
DELISTED
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
HOT
$5.26M 0.66%
+63,000
New +$4.3M
NYRT
21
DELISTED
New York REIT, Inc.
NYRT
$5.15M 0.64%
50,960
+26,968
+112% +$2.71M
SGYP
22
DELISTED
Synergy Pharmaceuticals, Inc Common Stock
SGYP
$4.66M 0.58%
1,687,115
+241,383
+17% +$874K
ODP
23
DELISTED
ODP
ODP
$3.55M 0.44%
50,020
-35,480
-41% -$1.91M
ODP
24
CALL
DELISTED
ODP
ODP
$3.55M 0.44%
+50,000
New +$2.69M
BHC icon
25
Bausch Health
BHC
$1.65B
$3.34M 0.42%
+127,100
New +$9.4M
1
2

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LPFG
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AFT
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SCM
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ACM
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SAM
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Twin Securities's Q1 2016 Portfolio in Review

As of Q1 2016, Twin Securities held 42 positions worth $801M, up 31% from $611M the previous quarter. Its ten largest holdings account for 82% of the portfolio.

Twin Securities deployed $228M of net new capital in Q1 2016, opening 15 new positions and adding to 12 existing holdings. Its largest new stake was SANDISK CORP: 1,447,757 shares worth $110M.

By sector, the portfolio is most concentrated in Communication Services at 21% of assets, up from 17% a quarter earlier, followed by Healthcare and Industrials.

On the sell side, the largest reduction was NCR Voyix, an estimated $35M trimmed.

  • Twin Securities's largest Q1 2016 buy was SANDISK CORP: 1,447,757 shares worth $110M.
  • Twin Securities added most to BAXALTA INC COM STK (DE) in Q1 2016, an estimated $82M increase.
  • Twin Securities's biggest Q1 2016 reduction was NCR Voyix, cutting an estimated $35M.
  • Twin Securities fully exited Perrigo in Q1 2016, selling an estimated $66.5M.
  • Twin Securities's ten largest holdings make up 82% of its $801M portfolio in Q1 2016.
  • Twin Securities opened 15 new positions and closed 8 in Q1 2016.
  • Twin Securities's portfolio value rose 31% quarter-over-quarter to $801M.

Based on Twin Securities's 13F filing for Q1 2016, filed 16 May 2016.