Twin Securities, Inc.
Follow13F filer, CIK 1351351, New York, NY
Twin Securities, Inc. reported $201,201,566 across 15 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 98.86% of the portfolio.
Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-25-005055
- Period
- 2025-09-30
- Reported value
- $201M
- Holdings
- 15
- Top 10 weight
- 98.86%
- New
- 9
- Sold out
- 7
Largest buys vs the previous quarter
| Security | Shares change | Approx. value |
|---|---|---|
| VERONA PHARMA PLCnew | +501,113 | $53.5M |
| MERUS N Vnew | +310,263 | $29.2M |
| MR COOPER GROUP INCnew | +122,358 | $25.8M |
| CYBERARK SOFTWARE LTD/ISRAELnew | +46,813 | $22.6M |
| Kadded | +125,350 | $10.3M |
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
| Security | Shares change | Approx. value |
|---|---|---|
| HESS CORPexited | -204,131 | -$28.3M |
| BLUEPRINT MEDICINES CORPexited | -120,126 | -$15.4M |
| SGRYreduced | -368,844 | -$7.98M |
| SPRINGWORKS THERAPEUTICS INCexited | -101,402 | -$4.76M |
| TICreduced | -311,512 | -$4.15M |
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, Q3 2025
Share positions as resolved from 13F-HR 0001172661-25-005055, largest first. % of portfolio is the value over $198,471,684, the sum of the share positions whose value is usable for ratios (method).
| Security | History | Shares | Value | % of portfolio | Change | Latest event | Timeline |
|---|---|---|---|---|---|---|---|
| VERONA PHARMA PLCVERONA PHARMA PLC | 501,113 | $53.5M | 26.94% | new | |||
| KKELLANOVA | 553,655 | $45.4M | 22.88% | +125,350 | Timeline | ||
| MERUS N VMERUS N V | 310,263 | $29.2M | 14.72% | new | |||
| MR COOPER GROUP INCMR COOPER GROUP INC | 122,358 | $25.8M | 13% | new | |||
| CYBERARK SOFTWARE LTD/ISRAELCYBERARK SOFTWARE LTD/ISRAEL | 46,813 | $22.6M | 11.4% | new | |||
| SPRSPIRIT AEROSYSTEMS HLDGS INC | 258,381 | $9.97M | 5.03% | +4,738 | Timeline | ||
| SGRYSURGERY PARTNERS INC | 142,872 | $3.09M | 1.56% | -368,844 | Timeline | ||
| WNS HLDGS LTD COM SHSWNS HLDGS LTD COM SHS | 32,814 | $2.5M | 1.26% | new | |||
| WBDWARNER BROS DISCOVERY INC | 127,717 | $2.49M | 1.26% | new | Timeline | ||
| TICTIC SOLUTIONS INC | 123,056 | $1.64M | 0.83% | -311,512 | Timeline | ||
| Tourmaline Bio IncTourmaline Bio Inc | 33,301 | $1.59M | 0.8% | new | |||
| PLYMPLYMOUTH INDUSTRIAL REIT INC | 20,146 | $450K | 0.23% | new | Timeline | ||
| MANUMANCHESTER UTD PLC NEW | 14,763 | $224K | 0.11% | +2,620 | Timeline |
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).
Sold out in Q3 2025
Positions in the previous quarter's report that this quarter's report no longer lists.
| Security | Shares before | Value before | Type |
|---|---|---|---|
| HESS CORPHESS CORP | 204,131 | $28.3M | shares |
| BLUEPRINT MEDICINES CORPBLUEPRINT MEDICINES CORP | 120,126 | $15.4M | shares |
| SPRINGWORKS THERAPEUTICS INCSPRINGWORKS THERAPEUTICS INC | 101,402 | $4.76M | shares |
| DUN & BRADSTREET HLDGS INCDUN & BRADSTREET HLDGS INC | 230,700 | $2.1M | shares |
| PZZAPAPA JOHNS INTL INC | 35,249 | $1.73M | shares |
| FOOT LOCKER INCFOOT LOCKER INC | 25,000 | $612K | shares |
| KKELLANOVA | 200 | $15.9K | put |
How Q3 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).
| Filing | Role | Amendment | Filed | Accepted | Ingested |
|---|---|---|---|---|---|
| 13F-HR 0001172661-25-005055 | base | 2025-11-14 | acceptance time not in the bulk data set |