Twin Securities, Inc.

Name: Twin Securities, Inc. 13F holdings, Q4 2024
Creator: Twin Securities, Inc.
Published: 2025-02-14

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q3 2024Q2 2024Q1 2024

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Twin Securities, Inc. reported 13 stock positions worth $169.6 million. Its top holding was Juniper Networks (JNPR) at 26.4% of the portfolio, followed by Kellanova (K, 13.3%) and Hashicorp Class A (HCP, 10.8%). Compared with Q3 2024, it opened 4 new positions, sold out of 3, added to 8 and reduced 1. The biggest buy was Kellanova (K, shares +1038%) and the biggest sale Endeavor Group Hold Class A (EDR, shares −37%).

Most Recent 13F: Q2 2026
Location: New York, NY
CIK: 0001351351
Portfolio Value: $169.6M (Q4 2024)
SEC Filing: 0001172661-25-001149 ↗ filed Feb 14, 2025

Holdings Value

Holdings 13 stocks · $169.6M


JNPR Juniper Networks Inc.	26.41%	1,195,838	$44.8M	Add +76.3%
K Kellanova	13.31%	278,734	$22.6M	Add +1037.7%
HCP Hashicorp Inc. Class A	10.78%	534,460	$18.3M	Add +292.0%
SMAR Smartsheet Inc. Class A	10.34%	313,073	$17.5M	Add +90.5%
HES Hess Corp.	7.79%	99,268	$13.2M	Add +3.8%
EDR Endeavor Group Hold Class A	7.33%	397,180	$12.4M	Reduce -36.9%
ALTM Arcadium Lithium PLC	7.07%	2,337,323	$12.0M	New
AZPN Aspen Technology Inc.	6.20%	42,132	$10.5M	New
GEAR Revelyst Inc.	5.73%	504,940	$9.7M	Add +382.9%
SUM Summit Materials Inc. Class A	2.42%	81,000	$4.1M	New
AMED Amedisys Inc.	1.56%	29,105	$2.6M	Add +143.7%
SPR Spirit Aerosystems Hold Class A	0.69%	34,530	$1.2M	New
MANU Manchester United PLC Class A	0.37%	36,543	$634K	Add +0.8%

Options reported separately and not counted above: JNPR puts ($1.1M).

Portfolio Sells Q3 2024 → Q4 2024


EDR Endeavor Group Hold Class A	Reduce -36.9%	7.33%	−13.68
SRCL Stericycle Inc.	Sold out	0.00%	−5.40
AXONICS INC	Sold out	0.00%	−2.32
NEXT Nextdecade Corp.	Sold out	0.00%	−0.06

Portfolio Buys Q3 2024 → Q4 2024


K Kellanova	Add +1037.7%	13.31%	+11.00
ALTM Arcadium Lithium PLC	New	7.07%	+7.07
AZPN Aspen Technology Inc.	New	6.20%	+6.20
HCP Hashicorp Inc. Class A	Add +292.0%	10.78%	+5.39
SUM Summit Materials Inc. Class A	New	2.42%	+2.42
GEAR Revelyst Inc.	Add +382.9%	5.73%	+0.94
SPR Spirit Aerosystems Hold Class A	New	0.69%	+0.69
AMED Amedisys Inc.	Add +143.7%	1.56%	+0.21
SMAR Smartsheet Inc. Class A	Add +90.5%	10.34%	−0.28
MANU Manchester United PLC Class A	Add +0.8%	0.37%	−0.31
JNPR Juniper Networks Inc.	Add +76.3%	26.41%	−4.48
HES Hess Corp.	Add +3.8%	7.79%	−7.39

Options Activity Q3 2024 → Q4 2024


EDR Endeavor Group Hold Class A	put	Sold out	76,300	$2.2Mbefore exit
JNPR Juniper Networks Inc.	put	New	28,900	$1.1M
X United States Steel Corp.	call	Sold out	22,500	$795Kbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	11	$195.8M	EA, WBD, APGE, ROKU, KVUE
Q1 2026	16	$202.3M	EA, WBD, CWAN, HOLX, KVUE
Q4 2025	16	$261.1M	CYBR, EXAS, EA, WBD, RNAM
Q3 2025	13	$198.5M	VRNA, K, MRUS, COOP, CYBR
Q2 2025	11	$113.0M	K, HES, BPMC, SGRY, SPR
Q1 2025	13	$174.1M	ITCI, K, BECN, HES, HEES
Q4 2024	13	$169.6M	JNPR, K, HCP, SMAR, HES
Q3 2024	12	$85.6M	JNPR, EDR, HES, SMAR, SRCL
Q2 2024	12	$82.9M	EDR, CERE, HES, X, HCP
Q1 2024	9	$86.1M	EDR, PXD, X, SWAV, CERE