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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
+7.85%
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
$223M
AUM Growth
-$129M
Cap. Flow
-$123M
Cap. Flow %
-55.29%
Top 10 Hldgs %
99.61%
Holding
19
New
5
Increased
5
Reduced
3
Closed
6

Top Buys

Rank Stock Value
1
AET
Aetna Inc
AET
+$34.3M
2
COL
Rockwell Collins
COL
+$33.9M
3
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
+$6.43M
4
ESRX
Express Scripts Holding Company
ESRX
+$4.96M
5
IDTI
Integrated Device Technology I
IDTI
+$966K

Top Sells

Rank Stock Value
1
NXPI icon
NXP Semiconductors
NXPI
+$87.2M
2
AABA
Altaba Inc
AABA
+$52.2M
3
AKRX
Akorn Inc
AKRX
+$21.7M
4
CAVM
Cavium, Inc.
CAVM
+$13.8M
5
T icon
AT&T
T
+$7.16M

Sector Composition

Rank Sector Weight
1 Financials 52.07%
2 Healthcare 11.18%
3 Technology 5.5%
4 Communication Services 4.99%
5 Real Estate 1.54%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AET
1
DELISTED
Aetna Inc
AET
$116M 52.07%
572,414
+175,451
+44% +$34.3M
COL
2
DELISTED
Rockwell Collins
COL
$34.6M 15.5%
+246,000
New +$33.9M
ESRX
3
DELISTED
Express Scripts Holding Company
ESRX
$24.5M 11%
258,187
+58,187
+29% +$4.96M
NXPI icon
4
NXP Semiconductors
NXPI
$68B
$12.3M 5.5%
143,558
-909,183
-86% -$87.2M
TFCFA
5
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
$11.1M 4.99%
240,400
+140,400
+140% +$6.43M
CVS icon
6
CALL
CVS Health
CVS
$137B
$7.87M 3.53%
+100,000
New +$7.15M
AKRX
7
CALL
DELISTED
Akorn Inc
AKRX
$6.76M 3.03%
521,000
+32,600
+7% +$536K
NXPI icon
8
PUT
NXP Semiconductors
NXPI
$68B
$4.28M 1.92%
50,000
-22,500
-31% -$2.16M
AAMC
9
DELISTED
Altisource Asset Management Corp
AAMC
$3.43M 1.54%
97,470
+680
+0.7% +$25.5K
IDTI
10
DELISTED
Integrated Device Technology I
IDTI
$1.18M 0.53%
+25,000
New +$966K
AKRX
11
DELISTED
Akorn Inc
AKRX
$463K 0.21%
35,677
-1,320,609
-97% -$21.7M
CI icon
12
Cigna
CI
$76.6B
$395K 0.18%
+1,898
New +$352K
AKRX
13
PUT
DELISTED
Akorn Inc
AKRX
$18K 0.01%
+1,400
New +$23K
ESI icon
14
Element Solutions
ESI
$9.12B
– –
-247,731
Closed -$2.87M
NXPI icon
15
CALL
NXP Semiconductors
NXPI
$68B
– –
-164,700
Closed -$18M
T icon
16
CALL
AT&T
T
$165B
– –
-280,820
Closed -$6.81M
T icon
17
AT&T
T
$165B
– –
-295,204
Closed -$7.16M
AABA
18
DELISTED
Altaba Inc
AABA
– –
-712,736
Closed -$52.2M
CAVM
19
DELISTED
Cavium, Inc.
CAVM
– –
-159,648
Closed -$13.8M

Similar funds

ASI
All-Stars Investment Hong Kong $206M AUM 31.57% 1-Year Est. Return
SC
Stance Capital Boston, Massachusetts $206M AUM 22.76% 1-Year Est. Return
LPFG
Landing Point Financial Group Avon, Ohio $206M AUM 15.97% 1-Year Est. Return
AFT
Alpha Family Trust Los Angeles, California $206M AUM 35.6% 1-Year Est. Return
SCM
SOL Capital Management Rockville, Maryland $206M AUM 17.87% 1-Year Est. Return
ACM
Accent Capital Management Centerville, Ohio $206M AUM 29.56% 1-Year Est. Return
SAM
Stenahm Asset Management Guernsey $206M AUM 42.47% 1-Year Est. Return
HM
Harvest Management New York $206M AUM 95.44% 1-Year Est. Return

Twin Securities's Q3 2018 Portfolio in Review

As of Q3 2018, Twin Securities held 19 positions worth $223M, down 37% from $352M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Twin Securities withdrew a net $123M in Q3 2018, closing 6 positions and reducing 3 holdings. Its most notable exit was Altaba Inc, an estimated $52.2M position sold in full.

By sector, the portfolio is most concentrated in Financials at 52% of assets, up from 21% a quarter earlier, followed by Healthcare and Technology.

Against the trend, Twin Securities opened a new position in Rockwell Collins worth $34.6M.

  • Twin Securities's largest Q3 2018 buy was Rockwell Collins: 246,000 shares worth $34.6M.
  • Twin Securities added most to Aetna Inc in Q3 2018, an estimated $34.3M increase.
  • Twin Securities's biggest Q3 2018 reduction was NXP Semiconductors, cutting an estimated $87.2M.
  • Twin Securities fully exited Altaba Inc in Q3 2018, selling an estimated $52.2M.
  • Twin Securities's ten largest holdings make up 100% of its $223M portfolio in Q3 2018.
  • Twin Securities opened 5 new positions and closed 6 in Q3 2018.
  • Twin Securities's portfolio value fell 37% quarter-over-quarter to $223M.

Based on Twin Securities's 13F filing for Q3 2018, filed 14 Nov 2018.