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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
+22.74%
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
$169M
AUM Growth
-$26.7M
Cap. Flow
-$118M
Cap. Flow %
-69.71%
Top 10 Hldgs %
100%
Holding
22
New
7
Increased
1
Reduced
2
Closed
12

Top Buys

Rank Stock Value
1
TIF
Tiffany & Co.
TIF
+$10.6M
2
FSCT
ForeScout Technologies, Inc. Common Stock
FSCT
+$10.2M
3
PTLA
Portola Pharmaceuticals, Inc.
PTLA
+$7.37M
4
ACIA
Acacia Communications Inc
ACIA
+$5.18M
5
WMGI
Wright Medical Group Inc
WMGI
+$533K

Top Sells

Rank Stock Value
1
AGN
Allergan plc
AGN
+$118M
2
CY
Cypress Semiconductor
CY
+$13.6M
3
MLNX
Mellanox Technologies, Ltd.
MLNX
+$6.59M
4
RARX
Ra Pharmaceuticals, Inc. Common Stock
RARX
+$5.36M
5
TGE
Tallgrass Energy, LP Class A Shares
TGE
+$2.68M

Sector Composition

Rank Sector Weight
1 Miscellaneous 74.31%
2 Consumer Discretionary 11.56%
3 Technology 7.76%
4 Healthcare 5.97%
5 Real Estate 0.4%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TECD
1
CALL
DELISTED
Tech Data Corp
TECD
$106M 62.99%
+732,900
New +$101M
TIF
2
DELISTED
Tiffany & Co.
TIF
$19.5M 11.56%
159,900
+84,382
+112% +$10.6M
TIF
3
PUT
DELISTED
Tiffany & Co.
TIF
$15M 8.91%
+123,300
New +$15.4M
PTLA
4
DELISTED
Portola Pharmaceuticals, Inc.
PTLA
$9.53M 5.65%
+529,626
New +$7.37M
FSCT
5
DELISTED
ForeScout Technologies, Inc. Common Stock
FSCT
$7.96M 4.72%
+375,410
New +$10.2M
ACIA
6
DELISTED
Acacia Communications Inc
ACIA
$5.14M 3.05%
+76,473
New +$5.18M
BMY.RT
7
DELISTED
Bristol-Myers Squibb Company Contingent Value Rights
BMY.RT
$3.68M 2.18%
1,027,255
-368,822
-26% -$1.33M
AAMC
8
DELISTED
Altisource Asset Management Corp
AAMC
$669K 0.4%
69,331
-11,552
-14% -$108K
WMGI
9
DELISTED
Wright Medical Group Inc
WMGI
$542K 0.32%
+18,221
New +$533K
TIF
10
CALL
DELISTED
Tiffany & Co.
TIF
$390K 0.23%
+3,200
New +$401K
CVS icon
11
CALL
CVS Health
CVS
$117B
– –
-9,500
Closed -$564K
TCO
12
DELISTED
Taubman Centers Inc.
TCO
– –
-45,000
Closed -$1.89M
TECD
13
DELISTED
Tech Data Corp
TECD
– –
-12,390
Closed -$1.71M
AGN
14
DELISTED
Allergan plc
AGN
– –
-667,224
Closed -$118M
AGN
15
PUT
DELISTED
Allergan plc
AGN
– –
-82,300
Closed -$14.6M
MLNX
16
CALL
DELISTED
Mellanox Technologies, Ltd.
MLNX
– –
-95,900
Closed -$11.6M
MLNX
17
DELISTED
Mellanox Technologies, Ltd.
MLNX
– –
-54,343
Closed -$6.59M
TGE
18
CALL
DELISTED
Tallgrass Energy, LP Class A Shares
TGE
– –
-1,000
Closed -$16K
TGE
19
DELISTED
Tallgrass Energy, LP Class A Shares
TGE
– –
-162,944
Closed -$2.68M
RARX
20
DELISTED
Ra Pharmaceuticals, Inc. Common Stock
RARX
– –
-111,614
Closed -$5.36M
CY
21
CALL
DELISTED
Cypress Semiconductor
CY
– –
-127,100
Closed -$2.96M
CY
22
DELISTED
Cypress Semiconductor
CY
– –
-584,445
Closed -$13.6M

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NWMP
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SPAS
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PCM
Pointe Capital Management Grosse Pointe Farms, Michigan $223M AUM 17.12% 1-Year Est. Return
CRC
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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 Q2 2020 Portfolio in Review

As of Q2 2020, Twin Securities held 22 positions worth $169M, down 14% from $195M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Twin Securities withdrew a net $118M in Q2 2020, closing 12 positions and reducing 2 holdings. Its most notable exit was Allergan plc, an estimated $118M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 74% of assets, up from 18% a quarter earlier, followed by Consumer Discretionary and Technology.

Against the trend, Twin Securities opened a new position in ForeScout Technologies, Inc. Common Stock worth $7.96M.

  • Twin Securities's largest Q2 2020 buy was ForeScout Technologies, Inc. Common Stock: 375,410 shares worth $7.96M.
  • Twin Securities added most to Tiffany & Co. in Q2 2020, an estimated $10.6M increase.
  • Twin Securities's biggest Q2 2020 reduction was Bristol-Myers Squibb Company Contingent Value Rights, cutting an estimated $1.33M.
  • Twin Securities fully exited Allergan plc in Q2 2020, selling an estimated $118M.
  • Twin Securities's ten largest holdings make up 100% of its $169M portfolio in Q2 2020.
  • Twin Securities opened 7 new positions and closed 12 in Q2 2020.
  • Twin Securities's portfolio value fell 14% quarter-over-quarter to $169M.

Based on Twin Securities's 13F filing for Q2 2020, filed 14 Aug 2020.