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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
-8.12%
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
$197M
AUM Growth
-$25.9M
Cap. Flow
-$11.9M
Cap. Flow %
-6.06%
Top 10 Hldgs %
98.55%
Holding
22
New
9
Increased
3
Reduced
–
Closed
9

Top Buys

Rank Stock Value
1
SHPG
Shire pic
SHPG
+$89.9M
2
CVS icon
CVS Health
CVS
+$43.4M
3
ORBK
Orbotech Ltd
ORBK
+$12.4M
4
RTX icon
RTX Corp
RTX
+$4.13M
5
ARRS
ARRIS International plc Ordinary Shares
ARRS
+$3.75M

Top Sells

Rank Stock Value
1
AET
Aetna Inc
AET
+$116M
2
COL
Rockwell Collins
COL
+$34.6M
3
ESRX
Express Scripts Holding Company
ESRX
+$24.5M
4
NXPI icon
NXP Semiconductors
NXPI
+$12.3M
5
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
+$11.1M

Sector Composition

Rank Sector Weight
1 Healthcare 64.91%
2 Technology 7.71%
3 Industrials 1.79%
4 Real Estate 0.95%
5 Communication Services 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SHPG
1
DELISTED
Shire pic
SHPG
$89.4M 45.35%
+513,668
New +$89.9M
CVS icon
2
CVS Health
CVS
$137B
$38.1M 19.34%
+581,907
New +$43.4M
CVS icon
3
CALL
CVS Health
CVS
$137B
$36.9M 18.74%
563,800
+463,800
+464% +$34.6M
ORBK
4
DELISTED
Orbotech Ltd
ORBK
$12.5M 6.34%
+221,200
New +$12.4M
SHPG
5
PUT
DELISTED
Shire pic
SHPG
$5.05M 2.56%
+29,000
New +$5.07M
ARRS
6
DELISTED
ARRIS International plc Ordinary Shares
ARRS
$4.13M 2.09%
+135,000
New +$3.75M
RTX icon
7
RTX Corp
RTX
$287B
$3.53M 1.79%
+52,683
New +$4.13M
AAMC
8
DELISTED
Altisource Asset Management Corp
AAMC
$1.87M 0.95%
107,160
+9,690
+10% +$268K
VISN
9
Vistance Networks Inc
VISN
$2.66B
$1.48M 0.75%
+90,000
New +$1.91M
SPY icon
10
State Street SPDR S&P 500 ETF Trust
SPY
$778B
$1.25M 0.63%
+5,000
New +$1.35M
DELL icon
11
Dell
DELL
$283B
$1.22M 0.62%
+49,258
New +$1.35M
IDTI
12
DELISTED
Integrated Device Technology I
IDTI
$1.21M 0.61%
25,000
– –
CI icon
13
Cigna
CI
$76.6B
$435K 0.22%
2,288
+390
+21% +$81.4K
NXPI icon
14
NXP Semiconductors
NXPI
$68B
– –
-143,558
Closed -$12.3M
NXPI icon
15
PUT
NXP Semiconductors
NXPI
$68B
– –
-50,000
Closed -$4.28M
AKRX
16
CALL
DELISTED
Akorn Inc
AKRX
– –
-521,000
Closed -$6.76M
AKRX
17
DELISTED
Akorn Inc
AKRX
– –
-35,677
Closed -$463K
AKRX
18
PUT
DELISTED
Akorn Inc
AKRX
– –
-1,400
Closed -$18K
TFCFA
19
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
– –
-240,400
Closed -$11.1M
ESRX
20
DELISTED
Express Scripts Holding Company
ESRX
– –
-258,187
Closed -$24.5M
AET
21
DELISTED
Aetna Inc
AET
– –
-572,414
Closed -$116M
COL
22
DELISTED
Rockwell Collins
COL
– –
-246,000
Closed -$34.6M

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 Q4 2018 Portfolio in Review

As of Q4 2018, Twin Securities held 22 positions worth $197M, down 12% from $223M the previous quarter. Its ten largest holdings account for 99% of the portfolio.

Twin Securities withdrew a net $11.9M in Q4 2018, closing 9 positions. Its most notable exit was Aetna Inc, an estimated $116M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 65% of assets, up from 11% a quarter earlier, followed by Technology and Industrials.

Against the trend, Twin Securities opened a new position in Shire pic worth $89.4M.

  • Twin Securities's largest Q4 2018 buy was Shire pic: 513,668 shares worth $89.4M.
  • Twin Securities added most to Altisource Asset Management Corp in Q4 2018, an estimated $268K increase.
  • Twin Securities fully exited Aetna Inc in Q4 2018, selling an estimated $116M.
  • Twin Securities's ten largest holdings make up 99% of its $197M portfolio in Q4 2018.
  • Twin Securities opened 9 new positions and closed 9 in Q4 2018.
  • Twin Securities's portfolio value fell 12% quarter-over-quarter to $197M.

Based on Twin Securities's 13F filing for Q4 2018, filed 14 Feb 2019.