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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
+15.99%
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
$580M
AUM Growth
-$29.6M
Cap. Flow
-$86.4M
Cap. Flow %
-14.89%
Top 10 Hldgs %
87.48%
Holding
30
New
13
Increased
7
Reduced
3
Closed
6

Top Buys

Rank Stock Value
1
MBLY
Mobileye N.V.
MBLY
+$40.9M
2
SYT
Syngenta Ag
SYT
+$25M
3
NXPI icon
NXP Semiconductors
NXPI
+$16.3M
4
RAI
Reynolds American Inc
RAI
+$14.4M
5
RAD
Rite Aid Corporation
RAD
+$11.2M

Top Sells

Rank Stock Value
1
STJ
St Jude Medical
STJ
+$174M
2
MON
Monsanto Co
MON
+$24.6M
3
AKRX
Akorn Inc
AKRX
+$12.7M
4
TMH
Team Health Holdings Inc
TMH
+$8.91M
5
ALR
Alere Inc
ALR
+$5.57M

Sector Composition

Rank Sector Weight
1 Technology 26.7%
2 Energy 24.56%
3 Consumer Staples 14.07%
4 Materials 10.07%
5 Healthcare 8.32%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
YHOO
1
DELISTED
Yahoo Inc
YHOO
$142M 24.56%
3,069,589
+126,975
+4% +$5.67M
NXPI icon
2
NXP Semiconductors
NXPI
$68B
$87.2M 15.03%
842,075
+161,625
+24% +$16.3M
RAI
3
DELISTED
Reynolds American Inc
RAI
$70.2M 12.11%
1,114,088
+239,088
+27% +$14.4M
MBLY
4
DELISTED
Mobileye N.V.
MBLY
$52.2M 8.99%
+849,417
New +$40.9M
ALR
5
DELISTED
Alere Inc
ALR
$45.5M 7.85%
1,145,311
-142,768
-11% -$5.57M
BABA icon
6
PUT
Alibaba
BABA
$269B
$27M 4.65%
250,000
+102,600
+70% +$10.4M
SYT
7
DELISTED
Syngenta Ag
SYT
$25.8M 4.44%
+291,292
New +$25M
MON
8
DELISTED
Monsanto Co
MON
$24.2M 4.18%
214,076
-221,943
-51% -$24.6M
AKRX
9
DELISTED
Akorn Inc
AKRX
$17.1M 2.95%
709,663
-583,198
-45% -$12.7M
ALR
10
CALL
DELISTED
Alere Inc
ALR
$15.8M 2.73%
398,600
+200,000
+101% +$7.8M
BRCD
11
DELISTED
Brocade Communications Systems, Inc. NEW
BRCD
$15.6M 2.69%
1,247,948
+438,848
+54% +$5.45M
MBLY
12
CALL
DELISTED
Mobileye N.V.
MBLY
$15M 2.58%
+243,800
New +$11.7M
MJN
13
DELISTED
Mead Johnson Nutrition Company
MJN
$9.13M 1.57%
+102,500
New +$8.43M
VAL
14
DELISTED
Valspar
VAL
$8.38M 1.45%
+75,580
New +$8.3M
RAD
15
DELISTED
Rite Aid Corporation
RAD
$7.91M 1.36%
+93,066
New +$11.2M
NXPI icon
16
CALL
NXP Semiconductors
NXPI
$68B
$5.86M 1.01%
+56,600
New +$5.72M
NOMD icon
17
Nomad Foods
NOMD
$1.64B
$2.27M 0.39%
197,982
– –
MON
18
CALL
DELISTED
Monsanto Co
MON
$2.08M 0.36%
+18,400
New +$2.04M
MNK
19
DELISTED
MALLINCKRODT PUBLIC LIMITED COMPANY
MNK
$1.95M 0.34%
43,689
+10,000
+30% +$493K
AAMC
20
DELISTED
Altisource Asset Management Corp
AAMC
$1.56M 0.27%
+35,190
New +$1.44M
AKRX
21
CALL
DELISTED
Akorn Inc
AKRX
$1.2M 0.21%
+50,000
New +$1.09M
FLXN
22
DELISTED
Flexion Therapeutics, Inc.
FLXN
$807K 0.14%
+30,000
New +$612K
SGYP
23
CALL
DELISTED
Synergy Pharmaceuticals, Inc Common Stock
SGYP
$466K 0.08%
+100,000
New +$580K
FLXN
24
CALL
DELISTED
Flexion Therapeutics, Inc.
FLXN
$460K 0.08%
+17,100
New +$349K
HUM icon
25
CALL
Humana
HUM
$46.7B
– –
-4,200
Closed -$857K
1
2

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Twin Securities's Q1 2017 Portfolio in Review

As of Q1 2017, Twin Securities held 30 positions worth $580M, down 4.9% from $610M the previous quarter. Its ten largest holdings account for 87% of the portfolio.

Twin Securities withdrew a net $86.4M in Q1 2017, closing 6 positions and reducing 3 holdings. Its most notable exit was St Jude Medical, an estimated $174M position sold in full.

By sector, the portfolio is most concentrated in Technology at 27% of assets, up from 13% a quarter earlier, followed by Energy and Consumer Staples.

Against the trend, Twin Securities opened a new position in Mobileye N.V. worth $52.2M.

  • Twin Securities's largest Q1 2017 buy was Mobileye N.V.: 849,417 shares worth $52.2M.
  • Twin Securities added most to NXP Semiconductors in Q1 2017, an estimated $16.3M increase.
  • Twin Securities's biggest Q1 2017 reduction was Monsanto Co, cutting an estimated $24.6M.
  • Twin Securities fully exited St Jude Medical in Q1 2017, selling an estimated $174M.
  • Twin Securities's ten largest holdings make up 87% of its $580M portfolio in Q1 2017.
  • Twin Securities opened 13 new positions and closed 6 in Q1 2017.
  • Twin Securities's portfolio value fell 4.9% quarter-over-quarter to $580M.

Based on Twin Securities's 13F filing for Q1 2017, filed 15 May 2017.