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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
+13.55%
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
$276M
AUM Growth
+$88M
Cap. Flow
+$122M
Cap. Flow %
44.06%
Top 10 Hldgs %
99.46%
Holding
20
New
5
Increased
4
Reduced
3
Closed
8

Top Buys

Rank Stock Value
1
APC
Anadarko Petroleum
APC
+$60.3M
2
RHT
Red Hat Inc
RHT
+$35.4M
3
ONCE
Spark Therapeutics, Inc. Common Stock
ONCE
+$27.6M
4
ZAYO
Zayo Group Holdings, Inc.
ZAYO
+$19.9M
5
CELG
Celgene Corp
CELG
+$7.82M

Top Sells

Rank Stock Value
1
CVS icon
CVS Health
CVS
+$16.9M
2
IDTI
Integrated Device Technology I
IDTI
+$9.18M
3
ARRS
ARRIS International plc Ordinary Shares
ARRS
+$4.99M
4
MLNX
Mellanox Technologies, Ltd.
MLNX
+$2.44M
5
TAK icon
Takeda Pharmaceutical
TAK
+$1.03M

Sector Composition

Rank Sector Weight
1 Communication Services 37.78%
2 Healthcare 28.81%
3 Energy 22.94%
4 Technology 6.96%
5 Miscellaneous 2.67%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RHT
1
DELISTED
Red Hat Inc
RHT
$84M 30.37%
447,175
+192,008
+75% +$35.4M
APC
2
DELISTED
Anadarko Petroleum
APC
$63.4M 22.94%
+898,900
New +$60.3M
ONCE
3
DELISTED
Spark Therapeutics, Inc. Common Stock
ONCE
$32.8M 11.88%
320,653
+255,653
+393% +$27.6M
CELG
4
DELISTED
Celgene Corp
CELG
$29.8M 10.79%
322,721
+82,353
+34% +$7.82M
ZAYO
5
DELISTED
Zayo Group Holdings, Inc.
ZAYO
$20.5M 7.41%
+622,559
New +$19.9M
MLNX
6
DELISTED
Mellanox Technologies, Ltd.
MLNX
$19.2M 6.96%
173,776
-21,224
-11% -$2.44M
CVS icon
7
CVS Health
CVS
$122B
$12.1M 4.38%
222,309
-314,098
-59% -$16.9M
CVS icon
8
CALL
CVS Health
CVS
$122B
$7.38M 2.67%
135,400
-117,500
-46% -$6.33M
AGN
9
DELISTED
Allergan plc
AGN
$4.19M 1.51%
+25,000
New +$3.46M
GWR
10
DELISTED
Genesee & Wyoming Inc.
GWR
$1.5M 0.54%
+15,000
New +$1.37M
AAMC
11
DELISTED
Altisource Asset Management Corp
AAMC
$795K 0.29%
117,507
+9,497
+9% +$121K
ARRY
12
DELISTED
Array Biopharma Inc
ARRY
$695K 0.25%
+15,000
New +$421K
BMY icon
13
CALL
Bristol-Myers Squibb
BMY
$132B
– –
-123,600
Closed -$5.9M
BMY icon
14
PUT
Bristol-Myers Squibb
BMY
$132B
– –
-156,400
Closed -$7.46M
CVS icon
15
PUT
CVS Health
CVS
$122B
– –
-27,300
Closed -$1.47M
TAK icon
16
Takeda Pharmaceutical
TAK
$58.2B
– –
-50,369
Closed -$1.03M
MLNX
17
CALL
DELISTED
Mellanox Technologies, Ltd.
MLNX
– –
-4,500
Closed -$533K
ARRS
18
DELISTED
ARRIS International plc Ordinary Shares
ARRS
– –
-157,691
Closed -$4.99M
IDTI
19
DELISTED
Integrated Device Technology I
IDTI
– –
-187,400
Closed -$9.18M
CELG
20
PUT
DELISTED
Celgene Corp
CELG
– –
-143,100
Closed -$13.5M

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SPAS
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PCM
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SONJCPFA
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GCM
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Twin Securities's Q2 2019 Portfolio in Review

As of Q2 2019, Twin Securities held 20 positions worth $276M, up 47% from $188M the previous quarter. Its ten largest holdings account for 99% of the portfolio.

Twin Securities deployed $122M of net new capital in Q2 2019, opening 5 new positions and adding to 4 existing holdings. Its largest new stake was Anadarko Petroleum: 898,900 shares worth $63.4M.

By sector, the portfolio is most concentrated in Communication Services at 38% of assets, up from 25% a quarter earlier, followed by Healthcare and Energy.

On the sell side, the largest reduction was CVS Health, an estimated $16.9M trimmed.

  • Twin Securities's largest Q2 2019 buy was Anadarko Petroleum: 898,900 shares worth $63.4M.
  • Twin Securities added most to Red Hat Inc in Q2 2019, an estimated $35.4M increase.
  • Twin Securities's biggest Q2 2019 reduction was CVS Health, cutting an estimated $16.9M.
  • Twin Securities fully exited Integrated Device Technology I in Q2 2019, selling an estimated $9.18M.
  • Twin Securities's ten largest holdings make up 99% of its $276M portfolio in Q2 2019.
  • Twin Securities opened 5 new positions and closed 8 in Q2 2019.
  • Twin Securities's portfolio value rose 47% quarter-over-quarter to $276M.

Based on Twin Securities's 13F filing for Q2 2019, filed 14 Aug 2019.