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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
+63.02%
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
$94.8M
AUM Growth
-$316M
Cap. Flow
-$341M
Cap. Flow %
-359.72%
Top 10 Hldgs %
99.91%
Holding
21
New
9
Increased
–
Reduced
2
Closed
10

Top Buys

Rank Stock Value
1
KRTX
Karuna Therapeutics, Inc. Common Stock
KRTX
+$24.5M
2
X
US Steel
X
+$9.31M
3
SPLK
Splunk Inc
SPLK
+$8.91M
4
EDR
Endeavor Group Holdings, Inc.
EDR
+$8.49M
5
CERE
Cerevel Therapeutics Holdings, Inc. Common Stock
CERE
+$6.69M

Top Sells

Rank Stock Value
1
ATVI
Activision Blizzard
ATVI
+$193M
2
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
+$92.6M
3
SGEN
Seagen Inc. Common Stock
SGEN
+$26.3M
4
VMW
VMware, Inc
VMW
+$12.4M
5
SIMO icon
Silicon Motion
SIMO
+$4.16M

Sector Composition

Rank Sector Weight
1 Healthcare 59.48%
2 Materials 13.13%
3 Technology 9.59%
4 Communication Services 9.42%
5 Consumer Staples 3.23%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KRTX
1
DELISTED
Karuna Therapeutics, Inc. Common Stock
KRTX
$39.9M 42.14%
+126,206
New +$24.5M
X
2
DELISTED
US Steel
X
$12.5M 13.13%
+255,929
New +$9.31M
CERE
3
DELISTED
Cerevel Therapeutics Holdings, Inc. Common Stock
CERE
$9.87M 10.41%
+232,705
New +$6.69M
SPLK
4
DELISTED
Splunk Inc
SPLK
$9.09M 9.59%
+59,650
New +$8.91M
EDR
5
DELISTED
Endeavor Group Holdings, Inc.
EDR
$8.93M 9.42%
+376,468
New +$8.49M
IMGN
6
DELISTED
Immunogen Inc
IMGN
$6.57M 6.93%
+221,622
New +$4.41M
KVUE icon
7
Kenvue
KVUE
$37B
$3.07M 3.23%
142,400
-6,000
-4% -$120K
PXD
8
DELISTED
Pioneer Natural Resource Co.
PXD
$2.59M 2.73%
+11,500
New +$2.7M
KVUE icon
9
CALL
Kenvue
KVUE
$37B
$1.86M 1.96%
86,300
-5,700
-6% -$114K
KRTX
10
CALL
DELISTED
Karuna Therapeutics, Inc. Common Stock
KRTX
$348K 0.37%
+1,100
New +$214K
X
11
CALL
DELISTED
US Steel
X
$87.6K 0.09%
+1,800
New +$65.5K
SIMO icon
12
Silicon Motion
SIMO
$9.19B
– –
-81,233
Closed -$4.16M
SGEN
13
CALL
DELISTED
Seagen Inc. Common Stock
SGEN
– –
-17,400
Closed -$3.69M
SGEN
14
DELISTED
Seagen Inc. Common Stock
SGEN
– –
-123,892
Closed -$26.3M
SGEN
15
PUT
DELISTED
Seagen Inc. Common Stock
SGEN
– –
-1,800
Closed -$382K
VMW
16
DELISTED
VMware, Inc
VMW
– –
-74,682
Closed -$12.4M
HZNP
17
CALL
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
– –
-20,000
Closed -$2.31M
HZNP
18
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
– –
-800,784
Closed -$92.6M
ATVI
19
CALL
DELISTED
Activision Blizzard
ATVI
– –
-454,500
Closed -$42.6M
ATVI
20
DELISTED
Activision Blizzard
ATVI
– –
-2,058,368
Closed -$193M
ATVI
21
PUT
DELISTED
Activision Blizzard
ATVI
– –
-308,700
Closed -$28.9M

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 2023 Portfolio in Review

As of Q4 2023, Twin Securities held 21 positions worth $94.8M, down 77% from $411M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Twin Securities withdrew a net $341M in Q4 2023, closing 10 positions and reducing 2 holdings. Its most notable exit was Activision Blizzard, an estimated $193M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 59% of assets, up from 29% a quarter earlier, followed by Materials and Technology.

Against the trend, Twin Securities opened a new position in Karuna Therapeutics, Inc. Common Stock worth $39.9M.

  • Twin Securities's largest Q4 2023 buy was Karuna Therapeutics, Inc. Common Stock: 126,206 shares worth $39.9M.
  • Twin Securities's biggest Q4 2023 reduction was Kenvue, cutting an estimated $120K.
  • Twin Securities fully exited Activision Blizzard in Q4 2023, selling an estimated $193M.
  • Twin Securities's ten largest holdings make up 100% of its $94.8M portfolio in Q4 2023.
  • Twin Securities opened 9 new positions and closed 10 in Q4 2023.
  • Twin Securities's portfolio value fell 77% quarter-over-quarter to $94.8M.

Based on Twin Securities's 13F filing for Q4 2023, filed 14 Feb 2024.