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Twin Securities, Inc.

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13F filer, CIK 1351351, New York, NY

Twin Securities, Inc. reported $193,524,365 across 18 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-15. Its ten largest share positions make up 98.48% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-25-002344

Period
2025-03-31
Reported value
$194M
Holdings
18
Top 10 weight
98.48%
New
12
Sold out
8

Largest buys vs the previous quarter

SecurityShares changeApprox. value
INTRA-CELLULAR THERAPIES INCnew+440,690$58.1M
BEACON ROOFING SUPPLY INCnew+178,135$22M
H&E EQUIPMENT SERVICES INCnew+109,490$10.4M
SPRadded+262,815$9.06M
SGRYnew+330,273$7.84M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
JUNIPER NETWORKS INCreduced-1,183,933-$42.8M
HASHICORP INCexited-534,460-$18.3M
SMARTSHEET INC. (CLASS A)exited-313,073-$17.5M
EDRexited-397,180-$12.4M
ARCADIUM LITHIUM PLCexited-2,337,323-$12M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0001172661-25-002344, largest first. % of portfolio is the value over $174,090,881, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
INTRA-CELLULAR THERAPIES INCINTRA-CELLULAR THERAPIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 440,690 shares 440,690$58.1M33.39%new
KKELLANOVAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 24,500 shares; 2024Q4: 278,734 shares; 2025Q1: 354,081 shares 354,081$29.2M16.78%+75,347Timeline
BEACON ROOFING SUPPLY INCBEACON ROOFING SUPPLY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 178,135 shares 178,135$22M12.66%new
HESS CORPHESS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 95,663 shares; 2024Q4: 99,268 shares; 2025Q1: 124,343 shares 124,343$19.9M11.41%+25,075
H&E EQUIPMENT SERVICES INCH&E EQUIPMENT SERVICES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 109,490 shares 109,490$10.4M5.96%new
SPRSPIRIT AEROSYSTEMS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 34,530 shares; 2025Q1: 297,345 shares 297,345$10.2M5.89%+262,815Timeline
SGRYSURGERY PARTNERS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 330,273 shares 330,273$7.84M4.51%newTimeline
SPRINGWORKS THERAPEUTICS INCSPRINGWORKS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 119,828 shares 119,828$5.29M3.04%new
TICTIC SOLUTIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 405,768 shares 405,768$4.51M2.59%newTimeline
DISCOVER FINL SVCSDISCOVER FINL SVCSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 23,101 shares 23,101$3.94M2.27%new
CHIMERIX INC COMCHIMERIX INC COMQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 202,200 shares 202,200$1.72M0.99%new
MANUMANCHESTER UTD PLC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 36,266 shares; 2024Q4: 36,543 shares; 2025Q1: 37,143 shares 37,143$486K0.28%+600Timeline
JUNIPER NETWORKS INCJUNIPER NETWORKS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 678,257 shares; 2024Q4: 1,195,838 shares; 2025Q1: 11,905 shares 11,905$431K0.25%-1,183,933

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
DISCOVER FINL SVCSDISCOVER FINL SVCS COMput42,600$7.27Mnew
SPRINGWORKS THERAPEUTICS INCSPRINGWORKS THERAPEUTICS INC COMcall116,100$5.12Mnew
BEACON ROOFING SUPPLY INCBEACON ROOFING SUPPLY INC COMcall38,200$4.73Mnew
SPRINGWORKS THERAPEUTICS INCSPRINGWORKS THERAPEUTICS INC COMput36,500$1.61Mnew
JUNIPER NETWORKS INCJUNIPER NETWORKS INC COMput19,400$702K-9,500

Sold out in Q1 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
HASHICORP INCHASHICORP INC534,460$18.3Mshares
SMARTSHEET INC. (CLASS A)SMARTSHEET INC. (CLASS A)313,073$17.5Mshares
EDRENDEAVOR GROUP HLDGS INC397,180$12.4Mshares
ARCADIUM LITHIUM PLCARCADIUM LITHIUM PLC2,337,323$12Mshares
ASPEN TECHNOLOGY INCASPEN TECHNOLOGY INC42,132$10.5Mshares
REVELYST INCREVELYST INC504,940$9.71Mshares
SUMMIT MATERIALS INC CLASS ASUMMIT MATERIALS INC CLASS A81,000$4.1Mshares
AMEDISYS INCAMEDISYS INC29,105$2.64Mshares

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001172661-25-002344 base2025-05-15acceptance time not in the bulk data set