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Two Seas Capital Portfolio holdings

AUM $5.05B
1-Year Est. Return 164.99%
This Fund
S&P 500
This Quarter Est. Return
+40.35%
1 Year Est. Return
+164.99%
3 Year Est. Return
+386.97%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$5.05B
AUM Growth
-$2.11B
Cap. Flow
-$38.2M
Cap. Flow %
-0.76%
Top 10 Hldgs %
72.54%
Holding
57
New
10
Increased
16
Reduced
15
Closed
10

Top Buys

Rank Stock Value
1
NKTR icon
Nektar Therapeutics
NKTR
+$82.9M
2
SHAZ
SharonAI Holdings
SHAZ
+$49.5M
3
VST icon
Vistra
VST
+$38M
4
SOC icon
Sable Offshore Corp
SOC
+$36.7M
5
SPCX
SpaceX
SPCX
+$35.5M

Top Sells

Rank Stock Value
1
CORZ icon
Core Scientific
CORZ
+$168M
2
INDV icon
Indivior Pharmaceuticals
INDV
+$46M
3
FSLR icon
First Solar
FSLR
+$41M
4
WULF icon
TeraWulf
WULF
+$35.2M
5
ESPR
Esperion Therapeutics
ESPR
+$31.2M

Sector Composition

Rank Sector Weight
1 Miscellaneous 48.22%
2 Healthcare 22.06%
3 Technology 9.84%
4 Utilities 5.21%
5 Materials 4.82%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$825B
$1.94B 38.51%
2,603,500
-3,865,100
-60% -$2.8B
ROIV icon
2
Roivant Sciences
ROIV
$25.1B
$300M 5.94%
8,475,356
-852,935
-9% -$25.2M
CLMT icon
3
Calumet Specialty Products
CLMT
$4.2B
$238M 4.72%
6,619,708
+659,416
+11% +$22.2M
CORZ icon
4
Core Scientific
CORZ
$5.31B
$231M 4.58%
9,028,509
-7,123,324
-44% -$168M
NKTR icon
5
Nektar Therapeutics
NKTR
$2.48B
$216M 4.28%
3,092,234
+1,133,056
+58% +$82.9M
TLN
6
Talen Energy Corp
TLN
$14.2B
$195M 3.86%
507,208
-71,921
-12% -$26.4M
CORZ icon
7
CALL
Core Scientific
CORZ
$5.31B
$154M 3.04%
6,000,000
+3,466,000
+137% +$81.6M
INDV icon
8
Indivior Pharmaceuticals
INDV
$4.12B
$143M 2.83%
3,479,493
-1,267,017
-27% -$46M
IMVT icon
9
Immunovant
IMVT
$8.51B
$121M 2.4%
3,148,505
-53,457
-2% -$1.63M
TDAY
10
USA Today Co
TDAY
$931M
$120M 2.38%
14,070,311
+24,868
+0.2% +$188K
FSLR icon
11
CALL
First Solar
FSLR
$22B
$111M 2.2%
471,500
+12,800
+3% +$3M
SHAZ
12
SharonAI Holdings
SHAZ
$1.88B
$110M 2.17%
1,293,753
+877,087
+211% +$49.5M
SHC icon
13
Sotera Health
SHC
$5.5B
$104M 2.05%
5,836,053
-187,318
-3% -$2.95M
ABUS icon
14
Arbutus Biopharma
ABUS
$1B
$91.7M 1.82%
19,095,583
+538,040
+3% +$2.36M
VST icon
15
Vistra
VST
$46B
$68.3M 1.35%
430,621
+245,024
+132% +$38M
FTAI icon
16
FTAI Aviation
FTAI
$20B
$67.4M 1.33%
248,962
-6,545
-3% -$1.65M
QURE icon
17
uniQure
QURE
$3.38B
$66.4M 1.32%
1,441,410
+141,410
+11% +$3.7M
WULF icon
18
TeraWulf
WULF
$7.66B
$61.6M 1.22%
2,493,139
-1,530,866
-38% -$35.2M
GLNG icon
19
Golar LNG
GLNG
$5.13B
$60.9M 1.21%
1,221,779
-52,931
-4% -$2.8M
ROIV icon
20
CALL
Roivant Sciences
ROIV
$25.1B
$52.5M 1.04%
1,482,600
+750,300
+102% +$22.2M
ECHO
21
EchoStar
ECHO
$25.2B
$51.1M 1.01%
502,975
+120,840
+32% +$14.8M
CIFR icon
22
Cipher Digital
CIFR
$6.3B
$50M 0.99%
2,040,000
-10,000
-0.5% -$211K
WULF icon
23
CALL
TeraWulf
WULF
$7.66B
$42M 0.83%
+1,700,000
New +$39.1M
SPCX
24
SpaceX
SPCX
$1.87T
$35.7M 0.71%
+208,890
New +$35.5M
ABVX
25
CALL
Abivax
ABVX
$9.89B
$35.5M 0.7%
+266,400
New +$30.2M
1
2 3

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Two Seas Capital's Q2 2026 Portfolio in Review

As of Q2 2026, Two Seas Capital held 57 positions worth $5.05B, down 29% from $7.15B the previous quarter. Its ten largest holdings account for 73% of the portfolio.

Two Seas Capital's Q2 2026 filing shows 10 new, 16 increased, 15 reduced and 10 closed positions. Its largest new stake was SpaceX: 208,890 shares worth $35.7M. The largest sale was Core Scientific, an estimated $168M.

By sector, the portfolio is most concentrated in Miscellaneous at 48% of assets, down from 70% a quarter earlier, followed by Healthcare and Technology.

  • Two Seas Capital's largest Q2 2026 buy was SpaceX: 208,890 shares worth $35.7M.
  • Two Seas Capital added most to Nektar Therapeutics in Q2 2026, an estimated $82.9M increase.
  • Two Seas Capital's biggest Q2 2026 reduction was Core Scientific, cutting an estimated $168M.
  • Two Seas Capital fully exited Esperion Therapeutics in Q2 2026, selling an estimated $31.2M.
  • Two Seas Capital's ten largest holdings make up 73% of its $5.05B portfolio in Q2 2026.
  • Two Seas Capital opened 10 new positions and closed 10 in Q2 2026.
  • Two Seas Capital's portfolio value fell 29% quarter-over-quarter to $5.05B.

Based on Two Seas Capital's 13F filing for Q2 2026, filed 12 Aug 2026.