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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
-5.09%
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
$583M
AUM Growth
-$97.1M
Cap. Flow
-$73.5M
Cap. Flow %
-12.61%
Top 10 Hldgs %
94.04%
Holding
22
New
9
Increased
6
Reduced
5
Closed
2

Top Buys

Rank Stock Value
1
NXPI icon
NXP Semiconductors
NXPI
+$44.8M
2
AET
Aetna Inc
AET
+$25.3M
3
QCOM icon
Qualcomm
QCOM
+$5.49M
4
CI icon
Cigna
CI
+$5.34M
5
BG icon
Bunge Global
BG
+$2.74M

Top Sells

Rank Stock Value
1
AABA
Altaba Inc
AABA
+$71.7M
2
SNI
Scripps Networks Interactive, Inc Common Class A
SNI
+$39.9M
3
TWX
Time Warner Inc
TWX
+$24.3M
4
AKRX
Akorn Inc
AKRX
+$20.2M
5
LUMN icon
Lumen
LUMN
+$6.08M

Sector Composition

Rank Sector Weight
1 Technology 31.7%
2 Miscellaneous 20.16%
3 Financials 17.39%
4 Communication Services 10.59%
5 Healthcare 10.49%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AET
1
DELISTED
Aetna Inc
AET
$101M 17.39%
599,645
+140,840
+31% +$25.3M
NXPI icon
2
NXP Semiconductors
NXPI
$56.3B
$96.2M 16.51%
822,118
+370,915
+82% +$44.8M
AABA
3
DELISTED
Altaba Inc
AABA
$79.7M 13.67%
1,075,835
-952,118
-47% -$71.7M
AKRX
4
DELISTED
Akorn Inc
AKRX
$56.5M 9.7%
3,021,144
-746,278
-20% -$20.2M
TWX
5
DELISTED
Time Warner Inc
TWX
$52.6M 9.03%
556,141
-257,950
-32% -$24.3M
TWX
6
CALL
DELISTED
Time Warner Inc
TWX
$49.3M 8.46%
520,900
-294,800
-36% -$27.8M
MON
7
DELISTED
Monsanto Co
MON
$47M 8.06%
402,654
+3,759
+0.9% +$452K
T icon
8
CALL
AT&T
T
$172B
$28.5M 4.89%
+1,059,200
New +$29.5M
NXPI icon
9
CALL
NXP Semiconductors
NXPI
$56.3B
$27.7M 4.76%
237,000
+30,900
+15% +$3.73M
LUMN icon
10
Lumen
LUMN
$7.02B
$9.13M 1.57%
555,535
-350,522
-39% -$6.08M
QCOM icon
11
CALL
Qualcomm
QCOM
$188B
$7.69M 1.32%
+138,800
New +$8.84M
QCOM icon
12
Qualcomm
QCOM
$188B
$5.94M 1.02%
107,191
+86,159
+410% +$5.49M
CI icon
13
Cigna
CI
$73.5B
$4.61M 0.79%
+27,500
New +$5.34M
AAMC
14
DELISTED
Altisource Asset Management Corp
AAMC
$3.75M 0.64%
97,211
+11,835
+14% +$467K
AKRX
15
CALL
DELISTED
Akorn Inc
AKRX
$3.5M 0.6%
+187,300
New +$5.08M
MULE
16
DELISTED
MuleSoft, Inc.
MULE
$2.9M 0.5%
+66,050
New +$1.96M
BG icon
17
Bunge Global
BG
$23.7B
$2.69M 0.46%
+36,317
New +$2.74M
NWL icon
18
Newell Brands
NWL
$2.56B
$1.72M 0.3%
+67,500
New +$1.91M
PF
19
DELISTED
Pinnacle Foods, Inc.
PF
$1.19M 0.2%
+21,998
New +$1.27M
MULE
20
CALL
DELISTED
MuleSoft, Inc.
MULE
$748K 0.13%
+17,000
New +$506K
SNI
21
DELISTED
Scripps Networks Interactive, Inc Common Class A
SNI
– –
-467,770
Closed -$39.9M
STRP
22
DELISTED
Straight Path Communications Inc.
STRP
– –
-4,667
Closed -$848K

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SPAS
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PCM
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SONJCPFA
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GCM
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OWG
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CCM
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Twin Securities's Q1 2018 Portfolio in Review

As of Q1 2018, Twin Securities held 22 positions worth $583M, down 14% from $680M the previous quarter. Its ten largest holdings account for 94% of the portfolio.

Twin Securities withdrew a net $73.5M in Q1 2018, closing 2 positions and reducing 5 holdings. Its most notable exit was Scripps Networks Interactive, Inc Common Class A, an estimated $39.9M position sold in full.

By sector, the portfolio is most concentrated in Technology at 32% of assets, up from 29% a quarter earlier, followed by Miscellaneous and Financials.

Against the trend, Twin Securities opened a new position in Cigna worth $4.61M.

  • Twin Securities's largest Q1 2018 buy was Cigna: 27,500 shares worth $4.61M.
  • Twin Securities added most to NXP Semiconductors in Q1 2018, an estimated $44.8M increase.
  • Twin Securities's biggest Q1 2018 reduction was Altaba Inc, cutting an estimated $71.7M.
  • Twin Securities fully exited Scripps Networks Interactive, Inc Common Class A in Q1 2018, selling an estimated $39.9M.
  • Twin Securities's ten largest holdings make up 94% of its $583M portfolio in Q1 2018.
  • Twin Securities opened 9 new positions and closed 2 in Q1 2018.
  • Twin Securities's portfolio value fell 14% quarter-over-quarter to $583M.

Based on Twin Securities's 13F filing for Q1 2018, filed 15 May 2018.