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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
-4.44%
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
$195M
AUM Growth
+$40.9M
Cap. Flow
+$49.3M
Cap. Flow %
25.21%
Top 10 Hldgs %
97.57%
Holding
21
New
9
Increased
2
Reduced
3
Closed
6

Top Buys

Rank Stock Value
1
AGN
Allergan plc
AGN
+$88M
2
CY
Cypress Semiconductor
CY
+$13.4M
3
MLNX
Mellanox Technologies, Ltd.
MLNX
+$5.66M
4
RARX
Ra Pharmaceuticals, Inc. Common Stock
RARX
+$5.19M
5
TGE
Tallgrass Energy, LP Class A Shares
TGE
+$3.33M

Top Sells

Rank Stock Value
1
ZAYO
Zayo Group Holdings, Inc.
ZAYO
+$33.3M
2
TIF
Tiffany & Co.
TIF
+$23.9M
3
QGEN icon
Qiagen
QGEN
+$20.4M
4
MDCO
Medicines Co
MDCO
+$16.1M
5
CVS icon
CVS Health
CVS
+$1.73M

Sector Composition

Rank Sector Weight
1 Healthcare 63.21%
2 Technology 11.18%
3 Energy 1.37%
4 Real Estate 0.34%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AGN
1
DELISTED
Allergan plc
AGN
$118M 60.46%
667,224
+467,251
+234% +$88M
AGN
2
PUT
DELISTED
Allergan plc
AGN
$14.6M 7.46%
+82,300
New +$15.5M
CY
3
DELISTED
Cypress Semiconductor
CY
$13.6M 6.97%
+584,445
New +$13.4M
MLNX
4
CALL
DELISTED
Mellanox Technologies, Ltd.
MLNX
$11.6M 5.95%
+95,900
New +$11.3M
TIF
5
DELISTED
Tiffany & Co.
TIF
$9.78M 5%
75,518
-181,296
-71% -$23.9M
MLNX
6
DELISTED
Mellanox Technologies, Ltd.
MLNX
$6.59M 3.37%
54,343
+48,093
+769% +$5.66M
RARX
7
DELISTED
Ra Pharmaceuticals, Inc. Common Stock
RARX
$5.36M 2.74%
+111,614
New +$5.19M
BMY.RT
8
DELISTED
Bristol-Myers Squibb Company Contingent Value Rights
BMY.RT
$5.3M 2.71%
1,396,077
-342,646
-20% -$1.13M
CY
9
CALL
DELISTED
Cypress Semiconductor
CY
$2.96M 1.52%
+127,100
New +$2.91M
TGE
10
DELISTED
Tallgrass Energy, LP Class A Shares
TGE
$2.68M 1.37%
+162,944
New +$3.33M
TCO
11
DELISTED
Taubman Centers Inc.
TCO
$1.89M 0.96%
+45,000
New +$1.87M
TECD
12
DELISTED
Tech Data Corp
TECD
$1.62M 0.83%
+12,390
New +$1.72M
AAMC
13
DELISTED
Altisource Asset Management Corp
AAMC
$657K 0.34%
80,883
-9,763
-11% -$90.2K
CVS icon
14
CALL
CVS Health
CVS
$137B
$564K 0.29%
9,500
– –
TGE
15
CALL
DELISTED
Tallgrass Energy, LP Class A Shares
TGE
$16K 0.01%
+1,000
New +$20.5K
CVS icon
16
CVS Health
CVS
$137B
– –
-25,934
Closed -$1.73M
HPQ icon
17
HP
HPQ
$23.5B
– –
-60,000
Closed -$1.23M
QGEN icon
18
Qiagen
QGEN
$8.53B
– –
-569,336
Closed -$20.4M
INST
19
DELISTED
Instructure, Inc.
INST
– –
-34,606
Closed -$1.67M
ZAYO
20
DELISTED
Zayo Group Holdings, Inc.
ZAYO
– –
-961,842
Closed -$33.3M
MDCO
21
DELISTED
Medicines Co
MDCO
– –
-189,500
Closed -$16.1M

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 Q1 2020 Portfolio in Review

As of Q1 2020, Twin Securities held 21 positions worth $195M, up 26% from $155M the previous quarter. Its ten largest holdings account for 98% of the portfolio.

Twin Securities deployed $49.3M of net new capital in Q1 2020, opening 9 new positions and adding to 2 existing holdings. Its largest new stake was Cypress Semiconductor: 584,445 shares worth $13.6M.

By sector, the portfolio is most concentrated in Healthcare at 63% of assets, up from 39% a quarter earlier, followed by Technology and Energy.

On the sell side, the largest reduction was Tiffany & Co., an estimated $23.9M trimmed.

  • Twin Securities's largest Q1 2020 buy was Cypress Semiconductor: 584,445 shares worth $13.6M.
  • Twin Securities added most to Allergan plc in Q1 2020, an estimated $88M increase.
  • Twin Securities's biggest Q1 2020 reduction was Tiffany & Co., cutting an estimated $23.9M.
  • Twin Securities fully exited Zayo Group Holdings, Inc. in Q1 2020, selling an estimated $33.3M.
  • Twin Securities's ten largest holdings make up 98% of its $195M portfolio in Q1 2020.
  • Twin Securities opened 9 new positions and closed 6 in Q1 2020.
  • Twin Securities's portfolio value rose 26% quarter-over-quarter to $195M.

Based on Twin Securities's 13F filing for Q1 2020, filed 15 May 2020.