TS
Twin Securities, Inc. SEC 13F Holdings (Q2 2026) — Top Position: ELECTRONIC ARTS INC
Twin Securities, Inc.CIK: 0001351351
Concentrated strategySector-focusedMomentum follower
Total reported value
$223.5M
Reporting period: 2026-06-30 · Number of holdings: 13
Twin Securities, Inc. disclosed 13 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $223.5M and a quarterly turnover rate of 73.4%.
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Personality snowflake
- Concentration
- 100
- Portfolio Stability
- 73.39
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 22
- Sizing Uniformity
- 83.32
Twin Securities, Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.321 — mathematically equivalent to about 3 equally-sized positions, well below its 13 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.67), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 18.1 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govSold out CWAN
Add EA
+26.3% $24.6M
New buy APGE
Sold out HO1
New buy ROKU
New buy BLD
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 11 holdings (of 13 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | EA | Electronic Arts Inc | Stock-Comm Services | 51.78% | +7.57% | +26.27% | |
| 2 | WBD | Warner Bros Discovery Inc | Stock-Comm Services | 18.69% | +1.37% | +20.52% | |
| 3 | APGE | Apogee Therapeutics Inc | Stock-Other | 7.13% | +7.13% | NEW | |
| 4 | ROKU | Roku Inc | Stock-Comm Services | 6.53% | +6.53% | NEW | |
| 5 | KVUE | Kenvue Inc | Stock-Consumer Staples | 6.46% | +2.44% | +57.12% | |
| 6 | BLD | Topbuild CORP | Stock-Industrials | 6.34% | +6.34% | NEW | |
| 7 | PSKY | Paramount Skydance Cl B | Stock-Comm Services | 1.48% | +1.48% | NEW | |
| 8 | OGN | Organon & Co | Stock-Healthcare | 1.06% | +1.06% | NEW | |
| 9 | TIC | Tic Solutions Inc | Stock-Other | 0.28% | +0.03% | — | |
| 10 | RNA | Atrium Therapeutics Inc | Stock-Other | 0.16% | -0.16% | -46.87% | |
| 11 | NSC | Norfolk Southern CORP | Stock-Industrials | 0.09% | +0.09% | NEW |
Portfolio Performance
Performance for Q3 2026
+7.4%
Performance Last 4 Quarters
+3.2%
Based on 71% of reported portfolio value with available pricing
- Stdev
- +9.5%
- Beta
- +0.17
- Alpha
- +2.5%
- Max Drawdown
- -0.1%
- Annualized Perf
- +6.5%
- Batting Avg vs S&P
- +66.7%
- Sortino
- +1.11
- Stutzer
- +0.22
- Treynor
- +0.39
- Sterling
- —
- Calmar
- +51.6
- Information Ratio
- -1.01
- Tracking Error
- +17.8%
- Stdev Down
- +6.1%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- —
- Worst 12 Months
- —
- Efficiency Ratio
- +0.26
- Sharpe
- +0.71
- Stdev Sectors
- +34.7%
- Skewness
- -0.87
- Kurtosis
- -0.24
- Upside Potential
- +2.56
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 13 | $223.5M | 73 | ||
| 2026 Q1 | 17 | $206.1M | 100 | ||
| 2025 Q4 | 17 | $261.7M | 100 | ||
| 2025 Q3 | 15 | $201.2M | 100 | ||
| 2025 Q2 | 13 | $176.2M | 0 | ||
| 2025 Q1 | 18 | $193.5M | 100 | ||
| 2024 Q4 | 14 | $170.7M | 0 | ||
| 2024 Q3 | 14 | $88.6M | 0 | ||
| 2024 Q2 | 13 | $127.1M | 0 | ||
| 2024 Q1 | 13 | $100.3M | 0 | ||
| 2023 Q4 | 11 | $94.8M | 0 | ||
| 2023 Q3 | 12 | $410.9M | 0 | ||
| 2023 Q2 | 12 | $180.4M | 0 | ||
| 2023 Q1 | 10 | $181.8M | 0 | ||
| 2022 Q4 | 15 | $114.8M | 0 | ||
| 2022 Q3 | 23 | $214.7M | 0 | ||
| 2022 Q2 | 19 | $100.8M | 0 | ||
| 2022 Q1 | 19 | $155.0M | 0 | ||
| 2021 Q4 | 12 | $186.4M | 0 | ||
| 2021 Q3 | 19 | $167.9M | 0 | ||
| 2021 Q2 | 18 | $264.6M | 100 | ||
| 2021 Q1 | 19 | $155.8M | 100 | ||
| 2020 Q4 | 10 | $141.4M | 100 | ||
| 2020 Q3 | 16 | $139.1M | 100 | ||
| 2020 Q2 | 10 | $168.7M | 100 | ||
| 2020 Q1 | 15 | $195.4M | 100 | ||
| 2019 Q4 | 12 | $154.5M | 100 | ||
| 2019 Q3 | 11 | $165.9M | 100 | ||
| 2019 Q2 | 12 | $276.4M | 94 | ||
| 2019 Q1 | 15 | $188.4M | 100 | ||
| 2018 Q4 | 13 | $197.1M | 100 | ||
| 2018 Q3 | 13 | $223.0M | 100 | ||
| 2018 Q2 | 14 | $351.6M | 73 | ||
| 2018 Q1 | 20 | $582.7M | 54 | ||
| 2017 Q4 | 13 | $679.8M | 81 | ||
| 2017 Q3 | 24 | $740.2M | 85 | ||
| 2017 Q2 | 21 | $623.4M | 100 | ||
| 2017 Q1 | 24 | $580.0M | 78 | ||
| 2016 Q4 | 17 | $609.6M | 80 | 17908492984332301449J | |
| 2016 Q3 | 20 | $573.6M | 100 | 153578A2984332301449J | |
| 2016 Q2 | 24 | $553.9M | 100 | 1G0177J201449J353578A | |
| 2016 Q1 | 34 | $801.2M | 98 | ||
| 2015 Q4 | 27 | $611.3M | 70 | ||
| 2015 Q3 | 28 | $539.6M | 100 | ||
| 2015 Q2 | 26 | $532.0M | 100 | ||
| 2015 Q1 | 27 | $850.5M | 100 | ||
| 2014 Q4 | 14 | $553.9M | 62 | ||
| 2014 Q3 | 17 | $528.7M | 75 | ||
| 2014 Q2 | 20 | $582.4M | 73 | ||
| 2014 Q1 | 23 | $551.0M | 100 | ||
| 2013 Q4 | 22 | $461.4M | 100 | ||
| 2013 Q3 | 16 | $356.2M | 98 | ||
| 2013 Q2 | 15 | $227.3M | 0 |
Holding changes this quarter
Twin Securities, Inc.'s most significant position changes for 2026-06-30: Sold out: Clearwater Analytics Holdings, Inc. (CWAN); New buy: Apogee Therapeutics Inc (APGE); New buy: Roku Inc (ROKU); New buy: Topbuild CORP (BLD); Sold out: Hologic Inc (HO1).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | EA | Electronic Arts Inc | +7.6% | +26.27% | Add |
| 2 | APGE | Apogee Therapeutics Inc | +7.1% | NEW | New buy |
| 3 | ROKU | Roku Inc | +6.5% | NEW | New buy |
| 4 | BLD | Topbuild CORP | +6.3% | NEW | New buy |
| 5 | KVUE | Kenvue Inc | +2.4% | +57.12% | Add |
| 6 | PSKY | Paramount Skydance Cl B | +1.5% | NEW | New buy |
| 7 | WBD | Warner Bros Discovery Inc | +1.4% | +20.52% | Add |
| 8 | OGN | Organon & Co | +1.1% | NEW | New buy |
| 9 | NSC | Norfolk Southern CORP | +0.1% | NEW | New buy |
| 10 | TIC | Tic Solutions Inc | 0% | — | Unchanged |
| 11 | SGRY | Surgery Partners Inc | -0.1% | EXIT | Sold out |
| 12 | MANU | Manchester United plc | -0.1% | EXIT | Sold out |
| 13 | RNA | Atrium Therapeutics Inc | -0.2% | -46.87% | Trim |
| 14 | DAWNGBX | Day One Biopharmaceuticals I | -0.3% | EXIT | Sold out |
| 15 | TTWO | Take-two Interactive Softwre | -0.6% | EXIT | Sold out |
| 16 | K4F | Onestream Inc | -0.7% | EXIT | Sold out |
| 17 | APLSUSD | Apellis Pharmaceuticals Inc | -2.5% | EXIT | Sold out |
| 18 | 430 | Terns Pharmaceuticals Inc | -3% | EXIT | Sold out |
| 19 | ACLXGBX | Arcellx Inc | -3% | EXIT | Sold out |
| 20 | RVMD | Revolution Medicines Inc | -3.7% | EXIT | Sold out |
| 21 | HO1 | Hologic Inc | -6.6% | EXIT | Sold out |
| 22 | CWAN | Clearwater Analytics Holdings, Inc. | -13.4% | EXIT | Sold out |
Filing History
FAQ
What is Twin Securities, Inc. and what type of investor is it?
Twin Securities, Inc. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $223.5M, spread across 13 disclosed positions.
What are Twin Securities, Inc.'s largest equity positions?
Based on the latest 13F filing, Twin Securities, Inc.'s top holdings by market value are:
1. Electronic Arts Inc (EA) — $115.7M (51.8%)
2. Warner Bros Discovery Inc (WBD) — $41.8M (18.7%)
3. Apogee Therapeutics Inc (APGE) — $15.9M (7.1%)
4. Roku Inc (ROKU) — $14.6M (6.5%)
5. Kenvue Inc (KVUE) — $14.4M (6.5%)
What changes did Twin Securities, Inc. make in its most recent portfolio filing?
In the latest reported quarter, Twin Securities, Inc. made 21 notable position adjustments: 6 new positions were initiated, 3 existing holdings were added to, 1 positions were partially reduced, and 11 were completely exited. The largest of these moves: Sold out: Clearwater Analytics Holdings, Inc. (CWAN); New buy: Apogee Therapeutics Inc (APGE); New buy: Roku Inc (ROKU); New buy: Topbuild CORP (BLD); Sold out: Hologic Inc (HO1)
What sectors does Twin Securities, Inc. focus on?
Twin Securities, Inc. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Communication Services: 84.9%
• Consumer Staples: 7.0%
• Industrials: 7.0%
• Health Care: 1.1%
Investment Profile
Twin Securities, Inc. returned an annualized 6.5% over the trailing 6 months — outperforming the S&P 500 by 2.5 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.17 (less volatile than the market) and a 67% quarterly batting average against the index.
Its portfolio is concentrated and fast-trading, with 84.9% of the portfolio concentrated in Communication Services.
Its turnover score has risen from 0 to 73 over the past 4 quarters — a shift toward more active trading.
It has added to its EA position for two straight quarters, increasing it by $66.7M to reach $115.7M.
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Developer Access
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REST API
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