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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
+73.45%
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
$139M
AUM Growth
-$29.6M
Cap. Flow
+$66M
Cap. Flow %
47.43%
Top 10 Hldgs %
98.27%
Holding
20
New
10
Increased
4
Reduced
2
Closed
4

Top Buys

Rank Stock Value
1
LVGO
Livongo Health, Inc. Common Stock
LVGO
+$37.4M
2
IMMU
Immunomedics Inc
IMMU
+$23.7M
3
NAV
Navistar International
NAV
+$7.2M
4
TIF
Tiffany & Co.
TIF
+$6.24M
5
MNTA
Momenta Pharmaceuticals, Inc.
MNTA
+$5.07M

Top Sells

Rank Stock Value
1
PTLA
Portola Pharmaceuticals, Inc.
PTLA
+$9.53M
2
FSCT
ForeScout Technologies, Inc. Common Stock
FSCT
+$7.96M
3
WMGI
Wright Medical Group Inc
WMGI
+$542K
4
AAMC
Altisource Asset Management Corp
AAMC
+$63.5K

Sector Composition

Rank Sector Weight
1 Healthcare 33.22%
2 Communication Services 30.93%
3 Consumer Discretionary 24.17%
4 Miscellaneous 4.68%
5 Technology 4.22%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LVGO
1
DELISTED
Livongo Health, Inc. Common Stock
LVGO
$43M 30.93%
+307,166
New +$37.4M
IMMU
2
DELISTED
Immunomedics Inc
IMMU
$39.8M 28.6%
+467,761
New +$23.7M
TIF
3
DELISTED
Tiffany & Co.
TIF
$24.5M 17.6%
211,248
+51,348
+32% +$6.24M
NAV
4
DELISTED
Navistar International
NAV
$9.14M 6.57%
+209,828
New +$7.2M
MNTA
5
DELISTED
Momenta Pharmaceuticals, Inc.
MNTA
$6.43M 4.62%
+122,500
New +$5.07M
ACIA
6
DELISTED
Acacia Communications Inc
ACIA
$5.86M 4.22%
86,979
+10,506
+14% +$713K
BMY.RT
7
DELISTED
Bristol-Myers Squibb Company Contingent Value Rights
BMY.RT
$2.47M 1.78%
1,099,031
+71,776
+7% +$205K
TCO
8
DELISTED
Taubman Centers Inc.
TCO
$2.29M 1.64%
+68,671
New +$2.56M
TIF
9
CALL
DELISTED
Tiffany & Co.
TIF
$2.28M 1.64%
19,700
+16,500
+516% +$2M
TIF
10
PUT
DELISTED
Tiffany & Co.
TIF
$938K 0.67%
8,100
-115,200
-93% -$14M
AAMC
11
DELISTED
Altisource Asset Management Corp
AAMC
$773K 0.56%
63,361
-5,970
-9% -$63.5K
ACM icon
12
Aecom
ACM
$8.08B
$712K 0.51%
+17,024
New +$649K
RESI
13
CALL
DELISTED
Front Yard Residential Corporation Common Stock
RESI
$572K 0.41%
+65,500
New +$595K
DGNR.U
14
DELISTED
Dragoneer Growth Opportunities Corp. Units, each consisting of one Class A ordinary share, and one-f
DGNR.U
$123K 0.09%
+10,000
New +$119K
RTP.U
15
DELISTED
Reinvent Technology Partners Units, each consisting of one Class A ordinary share and one-fourth of
RTP.U
$115K 0.08%
+10,000
New +$115K
RESI
16
DELISTED
Front Yard Residential Corporation Common Stock
RESI
$105K 0.08%
+11,988
New +$109K
WMGI
17
DELISTED
Wright Medical Group Inc
WMGI
– –
-18,221
Closed -$542K
FSCT
18
DELISTED
ForeScout Technologies, Inc. Common Stock
FSCT
– –
-375,410
Closed -$7.96M
PTLA
19
DELISTED
Portola Pharmaceuticals, Inc.
PTLA
– –
-529,626
Closed -$9.53M
TECD
20
CALL
DELISTED
Tech Data Corp
TECD
– –
-732,900
Closed -$106M

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NWMP
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SPAS
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PCM
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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 Q3 2020 Portfolio in Review

As of Q3 2020, Twin Securities held 20 positions worth $139M, down 18% from $169M the previous quarter. Its ten largest holdings account for 98% of the portfolio.

Twin Securities deployed $66M of net new capital in Q3 2020, opening 10 new positions and adding to 4 existing holdings. Its largest new stake was Livongo Health, Inc. Common Stock: 307,166 shares worth $43M.

By sector, the portfolio is most concentrated in Healthcare at 33% of assets, up from 6% a quarter earlier, followed by Communication Services and Consumer Discretionary.

On the sell side, the largest reduction was Altisource Asset Management Corp, an estimated $63.5K trimmed.

  • Twin Securities's largest Q3 2020 buy was Livongo Health, Inc. Common Stock: 307,166 shares worth $43M.
  • Twin Securities added most to Tiffany & Co. in Q3 2020, an estimated $6.24M increase.
  • Twin Securities's biggest Q3 2020 reduction was Altisource Asset Management Corp, cutting an estimated $63.5K.
  • Twin Securities fully exited Portola Pharmaceuticals, Inc. in Q3 2020, selling an estimated $9.53M.
  • Twin Securities's ten largest holdings make up 98% of its $139M portfolio in Q3 2020.
  • Twin Securities opened 10 new positions and closed 4 in Q3 2020.
  • Twin Securities's portfolio value fell 18% quarter-over-quarter to $139M.

Based on Twin Securities's 13F filing for Q3 2020, filed 16 Nov 2020.