Twin Securities
New York, NYfiles as Twin Securities, Inc.
$196m in 11 US stocks at the end of 30 June 2026. The top 10 are 99.9% of the money. It changed about 39.4% of the portfolio this quarter.
Value
$196m
Stocks
11
Top 10 share
99.9%
Turnover
39.4%
What changed this quarter
New
Bought for the first time this quarter.
- Apogee TherapeuticsAPGE8.1% of the fund
- RokuROKU7.5% of the fund
- Topbuild COR7.2% of the fund
- Paramount SkydancePSKY1.7% of the fund
- OrganonOGN1.2% of the fund
- Norfolk SouthernNSC0.1% of the fund
Added
Bought more of a stock they already held.
- Electronic ArtsEA55.3% of the fund+18%
- KenvueKVUE7.4% of the fund+57%
Cut
Sold some of their stake.
- Warner Bros. DiscoveryWBD11.0% of the fund-38%
- Atrium TherapeuticsRNA0.2% of the fund-47%
Sold out
Sold their entire stake.
- Clearwater Analytics Hldgs I-100%
- Hologic-100%
- Arcellx-100%
- Terns Pharmaceuticals-100%
- Apellis Pharmaceuticals-100%
- Revolution MedicinesRVMD-100%
- Onestream-100%
- Take TWO Interactive SoftwareTTWO-100%
- DAY One Biopharmaceuticals I-100%
- Manchester UnitedMANU-100%
- Surgery PartnersSGRY-100%
Holdings
- Electronic ArtsEA
- Share
- 55.3%
- Value
- $108m
- Shares
- 528,441
+18%
- Apogee TherapeuticsAPGE
- Share
- 8.1%
- Value
- $16m
- Shares
- 120,000
New
- Topbuild COR
- Share
- 7.2%
- Value
- $14m
- Shares
- 39,948
New
- Atrium TherapeuticsRNA
- Share
- 0.2%
- Value
- $356,654
- Shares
- 26,517
-47%
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Electronic ArtsEA | 55.3% | $108m | 528,441 | +18% |
| Warner Bros. DiscoveryWBD | 11.0% | $22m | 807,012 | -38% |
| Apogee TherapeuticsAPGE | 8.1% | $16m | 120,000 | New |
| RokuROKU | 7.5% | $15m | 105,660 | New |
| KenvueKVUE | 7.4% | $14m | 754,977 | +57% |
| Topbuild COR | 7.2% | $14m | 39,948 | New |
| Paramount SkydancePSKY | 1.7% | $3m | 334,724 | New |
| OrganonOGN | 1.2% | $2m | 175,100 | New |
| TIC SolutionsTIC | 0.3% | $625,673 | 77,339 | Held |
| Atrium TherapeuticsRNA | 0.2% | $356,654 | 26,517 | -47% |
| Norfolk SouthernNSC | 0.1% | $205,113 | 652 | New |
Options (2)
- Warner Bros. DiscoveryWBD
- Type
- Put
- Value
- $20m
- Contracts
- 759,600
- Electronic ArtsEA
- Type
- Put
- Value
- $7m
- Contracts
- 35,900
| Company | Type | Value | Contracts |
|---|---|---|---|
| Warner Bros. DiscoveryWBD | Put | $20m | 759,600 |
| Electronic ArtsEA | Put | $7m | 35,900 |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 73.3% since 30 June 2025.
Where the money is
Technology55.6%
Media & telecom20.1%
Health care9.5%
Everyday goods7.4%
Industrials0.1%
Other7.2%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.