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Twin Securities Portfolio holdings

AUM $223M
1-Year Est. Return 91.15%
This Fund
S&P 500
This Quarter Est. Return
+3.88%
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
$574M
AUM Growth
+$19.7M
Cap. Flow
+$86.5M
Cap. Flow %
15.08%
Top 10 Hldgs %
95.51%
Holding
36
New
12
Increased
3
Reduced
5
Closed
16

Top Buys

Rank Stock Value
1
LNKD
LinkedIn Corporation
LNKD
+$89.8M
2
STJ
St Jude Medical
STJ
+$59.5M
3
YHOO
Yahoo Inc
YHOO
+$53.6M
4
MON
Monsanto Co
MON
+$42.7M
5
HTZ
Hertz Global Holdings, Inc.
HTZ
+$14.4M

Top Sells

Rank Stock Value
1
EMC
EMC CORPORATION
EMC
+$39.4M
2
HUM icon
Humana
HUM
+$32.3M
3
MDVN
MEDIVATION, INC.
MDVN
+$27.8M
4
AGN
Allergan plc
AGN
+$23.2M
5
HRI icon
Herc Holdings
HRI
+$16.7M

Sector Composition

Rank Sector Weight
1 Healthcare 28.67%
2 Communication Services 28.42%
3 Energy 20.04%
4 Miscellaneous 11.55%
5 Materials 7.94%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LNKD
1
DELISTED
LinkedIn Corporation
LNKD
$163M 28.42%
852,863
+468,509
+122% +$89.8M
YHOO
2
DELISTED
Yahoo Inc
YHOO
$115M 20.04%
2,666,529
+1,308,215
+96% +$53.6M
STJ
3
DELISTED
St Jude Medical
STJ
$58.8M 10.25%
+737,256
New +$59.5M
ALR
4
DELISTED
Alere Inc
ALR
$58.1M 10.13%
1,343,466
-23,514
-2% -$959K
MON
5
DELISTED
Monsanto Co
MON
$41.6M 7.26%
+407,419
New +$42.7M
AKRX
6
DELISTED
Akorn Inc
AKRX
$36.8M 6.41%
1,349,761
-315,000
-19% -$9.33M
AGN
7
CALL
DELISTED
Allergan plc
AGN
$25.2M 4.4%
109,500
-53,100
-33% -$13M
ALR
8
PUT
DELISTED
Alere Inc
ALR
$20.7M 3.61%
479,300
+44,300
+10% +$1.81M
BABA icon
9
PUT
Alibaba
BABA
$267B
$16.7M 2.9%
+157,400
New +$14.6M
HTZ
10
DELISTED
Hertz Global Holdings, Inc.
HTZ
$12M 2.09%
+344,104
New +$14.4M
AGN
11
DELISTED
Allergan plc
AGN
$8.07M 1.41%
35,061
-95,000
-73% -$23.2M
ESI icon
12
Element Solutions
ESI
$7.82B
$3.93M 0.69%
+485,000
New +$4.33M
RAD
13
DELISTED
Rite Aid Corporation
RAD
$2.69M 0.47%
+17,500
New +$2.61M
VA
14
DELISTED
Virgin America Inc.
VA
$2.55M 0.44%
+47,683
New +$2.66M
NXPI icon
15
CALL
NXP Semiconductors
NXPI
$55.2B
$2.55M 0.44%
+25,000
New +$2.12M
NOMD icon
16
Nomad Foods
NOMD
$1.54B
$2.34M 0.41%
197,982
-2,500
-1% -$25.1K
KO icon
17
Coca-Cola
KO
$378B
$1.27M 0.22%
+30,000
New +$1.31M
FRGI
18
DELISTED
Fiesta Restaurant Group, Inc.
FRGI
$1.21M 0.21%
+50,500
New +$1.22M
HUM icon
19
CALL
Humana
HUM
$46.2B
$743K 0.13%
+4,200
New +$729K
TWTR
20
CALL
DELISTED
Twitter, Inc.
TWTR
$364K 0.06%
+15,800
New +$297K
CHTR icon
21
Charter Communications
CHTR
$16.1B
– –
-5,326
Closed -$1.22M
HRI icon
22
Herc Holdings
HRI
$4.77B
– –
-503,271
Closed -$16.7M
HUM icon
23
Humana
HUM
$46.2B
– –
-186,159
Closed -$32.3M
HUM icon
24
PUT
Humana
HUM
$46.2B
– –
-200,000
Closed -$36M
ODP
25
DELISTED
ODP
ODP
– –
-109,539
Closed -$3.63M
1
2

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Twin Securities's Q3 2016 Portfolio in Review

As of Q3 2016, Twin Securities held 36 positions worth $574M, up 3.6% from $554M the previous quarter. Its ten largest holdings account for 96% of the portfolio.

Twin Securities deployed $86.5M of net new capital in Q3 2016, opening 12 new positions and adding to 3 existing holdings. Its largest new stake was St Jude Medical: 737,256 shares worth $58.8M.

By sector, the portfolio is most concentrated in Healthcare at 29% of assets, down from 32% a quarter earlier, followed by Communication Services and Energy.

On the sell side, the largest reduction was Allergan plc, an estimated $23.2M trimmed.

  • Twin Securities's largest Q3 2016 buy was St Jude Medical: 737,256 shares worth $58.8M.
  • Twin Securities added most to LinkedIn Corporation in Q3 2016, an estimated $89.8M increase.
  • Twin Securities's biggest Q3 2016 reduction was Allergan plc, cutting an estimated $23.2M.
  • Twin Securities fully exited EMC CORPORATION in Q3 2016, selling an estimated $39.4M.
  • Twin Securities's ten largest holdings make up 96% of its $574M portfolio in Q3 2016.
  • Twin Securities opened 12 new positions and closed 16 in Q3 2016.
  • Twin Securities's portfolio value rose 3.6% quarter-over-quarter to $574M.

Based on Twin Securities's 13F filing for Q3 2016, filed 14 Nov 2016.