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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
-1.38%
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
$610M
AUM Growth
+$36M
Cap. Flow
+$61.9M
Cap. Flow %
10.16%
Top 10 Hldgs %
94.77%
Holding
28
New
8
Increased
4
Reduced
3
Closed
11

Top Buys

Rank Stock Value
1
STJ
St Jude Medical
STJ
+$114M
2
NXPI icon
NXP Semiconductors
NXPI
+$67.6M
3
RAI
Reynolds American Inc
RAI
+$46.4M
4
YHOO
Yahoo Inc
YHOO
+$11.3M
5
BRCD
Brocade Communications Systems, Inc. NEW
BRCD
+$9.1M

Top Sells

Rank Stock Value
1
LNKD
LinkedIn Corporation
LNKD
+$163M
2
HTZ
Hertz Global Holdings, Inc.
HTZ
+$12M
3
AGN
Allergan plc
AGN
+$7.26M
4
ESI icon
Element Solutions
ESI
+$3.93M
5
RAD
Rite Aid Corporation
RAD
+$2.69M

Sector Composition

Rank Sector Weight
1 Healthcare 37.13%
2 Energy 18.67%
3 Technology 12.71%
4 Consumer Staples 8.35%
5 Materials 7.53%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
STJ
1
DELISTED
St Jude Medical
STJ
$174M 28.62%
2,175,405
+1,438,149
+195% +$114M
YHOO
2
DELISTED
Yahoo Inc
YHOO
$114M 18.67%
2,942,614
+276,085
+10% +$11.3M
NXPI icon
3
NXP Semiconductors
NXPI
$68B
$66.7M 10.94%
+680,450
New +$67.6M
ALR
4
DELISTED
Alere Inc
ALR
$50.2M 8.23%
1,288,079
-55,387
-4% -$2.24M
RAI
5
DELISTED
Reynolds American Inc
RAI
$49M 8.04%
+875,000
New +$46.4M
MON
6
DELISTED
Monsanto Co
MON
$45.9M 7.53%
436,019
+28,600
+7% +$2.93M
AKRX
7
DELISTED
Akorn Inc
AKRX
$28.2M 4.63%
1,292,861
-56,900
-4% -$1.31M
ALR
8
PUT
DELISTED
Alere Inc
ALR
$21.8M 3.58%
560,200
+80,900
+17% +$3.27M
AGN
9
PUT
DELISTED
Allergan plc
AGN
$14.7M 2.41%
+70,000
New +$14.5M
BABA icon
10
PUT
Alibaba
BABA
$269B
$12.9M 2.12%
147,400
-10,000
-6% -$963K
BRCD
11
DELISTED
Brocade Communications Systems, Inc. NEW
BRCD
$10.1M 1.66%
+809,100
New +$9.1M
TMH
12
DELISTED
Team Health Holdings Inc
TMH
$8.91M 1.46%
+204,999
New +$8.47M
ALR
13
CALL
DELISTED
Alere Inc
ALR
$7.74M 1.27%
+198,600
New +$8.04M
NOMD icon
14
Nomad Foods
NOMD
$1.64B
$1.9M 0.31%
197,982
– –
MNK
15
DELISTED
MALLINCKRODT PUBLIC LIMITED COMPANY
MNK
$1.68M 0.28%
+33,689
New +$1.98M
HUM icon
16
CALL
Humana
HUM
$46.7B
$857K 0.14%
4,200
– –
ISIL
17
DELISTED
Intersil Corp
ISIL
$669K 0.11%
+30,000
New +$664K
ESI icon
18
Element Solutions
ESI
$9.12B
– –
-485,000
Closed -$3.93M
KO icon
19
Coca-Cola
KO
$354B
– –
-30,000
Closed -$1.27M
NXPI icon
20
CALL
NXP Semiconductors
NXPI
$68B
– –
-25,000
Closed -$2.55M
FRGI
21
DELISTED
Fiesta Restaurant Group, Inc.
FRGI
– –
-50,500
Closed -$1.21M
RAD
22
DELISTED
Rite Aid Corporation
RAD
– –
-17,500
Closed -$2.69M
TWTR
23
CALL
DELISTED
Twitter, Inc.
TWTR
– –
-15,800
Closed -$364K
HTZ
24
DELISTED
Hertz Global Holdings, Inc.
HTZ
– –
-344,104
Closed -$12M
AGN
25
CALL
DELISTED
Allergan plc
AGN
– –
-109,500
Closed -$25.2M
1
2

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Twin Securities's Q4 2016 Portfolio in Review

As of Q4 2016, Twin Securities held 28 positions worth $610M, up 6.3% from $574M the previous quarter. Its ten largest holdings account for 95% of the portfolio.

Twin Securities deployed $61.9M of net new capital in Q4 2016, opening 8 new positions and adding to 4 existing holdings. Its largest new stake was NXP Semiconductors: 680,450 shares worth $66.7M.

By sector, the portfolio is most concentrated in Healthcare at 37% of assets, up from 22% a quarter earlier, followed by Energy and Technology.

On the sell side, the largest reduction was Alere Inc, an estimated $2.24M trimmed.

  • Twin Securities's largest Q4 2016 buy was NXP Semiconductors: 680,450 shares worth $66.7M.
  • Twin Securities added most to St Jude Medical in Q4 2016, an estimated $114M increase.
  • Twin Securities's biggest Q4 2016 reduction was Alere Inc, cutting an estimated $2.24M.
  • Twin Securities fully exited LinkedIn Corporation in Q4 2016, selling an estimated $163M.
  • Twin Securities's ten largest holdings make up 95% of its $610M portfolio in Q4 2016.
  • Twin Securities opened 8 new positions and closed 11 in Q4 2016.
  • Twin Securities's portfolio value rose 6.3% quarter-over-quarter to $610M.

Based on Twin Securities's 13F filing for Q4 2016, filed 14 Feb 2017.