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Two Seas Capital Portfolio holdings

AUM $8.68B
1-Year Est. Return 78.08%
This Fund
S&P 500
This Quarter Est. Return
-5.94%
1 Year Est. Return
+78.08%
3 Year Est. Return
+344.2%
5 Year Est. Return
+575.95%
10 Year Est. Return
–
AUM
$8.68B
AUM Growth
+$3.63B
Cap. Flow
+$205M
Cap. Flow %
2.36%
Top 10 Hldgs %
82.94%
Holding
55
New
8
Increased
21
Reduced
9
Closed
8
Avg Time Held Equity + Options
5 quarters
Top 10 Avg Time Held Equity + Options
6.5 quarters
Top 20 Avg Time Held Equity + Options
5.2 quarters
Avg Time Held Equity only
6.2 quarters
Top 10 Avg Time Held Equity only
7.3 quarters
Top 20 Avg Time Held Equity only
5.9 quarters

Top Buys

Rank Stock Value
1
IMVT icon
Immunovant
IMVT
+$57.7M
2
FSLR icon
First Solar
FSLR
+$52.9M
3
ABVX icon
Abivax
ABVX
+$52.1M
4
SEI icon
Solaris Energy Infrastructure
SEI
+$47.9M
5
CORZ icon
Core Scientific
CORZ
+$47.2M

Top Sells

Rank Stock Value
1
CLMT icon
Calumet Specialty Products
CLMT
+$63.3M
2
ABUS icon
Arbutus Biopharma
ABUS
+$52.8M
3
ROIV icon
Roivant Sciences
ROIV
+$41.7M
4
DAR icon
Darling Ingredients
DAR
+$28.2M
5
BTDR icon
Bitdeer Technologies
BTDR
+$23.8M

Sector Composition

Rank Sector Weight
1 Miscellaneous 71.11%
2 Healthcare 12.03%
3 Technology 5.44%
4 Materials 3.23%
5 Utilities 2.53%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
QQQ icon
1
PUT
Invesco QQQ Trust
QQQ
$497B
$3.99B 45.96%
+5,393,000
New +$3.85B
2026 Q3
0 quarters
SPY icon
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$822B
$1.14B 13.09%
1,490,000
-1,113,500
-43% -$846M
2024 Q4
7 quarters
IWM icon
3
PUT
iShares Russell 2000 ETF
IWM
$77.9B
$689M 7.93%
+2,477,700
New +$728M
2026 Q3
0 quarters
CLMT icon
4
Calumet Specialty Products
CLMT
$5.16B
$277M 3.19%
5,280,659
-1,339,049
-20% -$63.3M
2024 Q3
8 quarters
ROIV icon
5
Roivant Sciences
ROIV
$24.1B
$268M 3.09%
7,325,356
-1,150,000
-14% -$41.7M
2021 Q4
19 quarters
NKTR icon
6
Nektar Therapeutics
NKTR
$1.29B
$203M 2.33%
3,345,978
+253,744
+8% +$17.8M
2025 Q4
3 quarters
CORZ icon
7
Core Scientific
CORZ
$4.94B
$183M 2.1%
11,425,928
+2,397,419
+27% +$47.2M
2024 Q1
10 quarters
TLN icon
8
Talen Energy Corp
TLN
$18.2B
$167M 1.93%
535,493
+28,285
+6% +$9.43M
2024 Q3
8 quarters
IMVT icon
9
Immunovant
IMVT
$5.94B
$156M 1.8%
4,612,692
+1,464,187
+47% +$57.7M
2023 Q3
12 quarters
INDV icon
10
Indivior Pharmaceuticals
INDV
$4.16B
$132M 1.52%
3,671,072
+191,579
+6% +$7.23M
2023 Q2
13 quarters
SHC icon
11
Sotera Health
SHC
$5.19B
$113M 1.3%
6,111,053
+275,000
+5% +$5.07M
2024 Q1
10 quarters
SHAZ icon
12
SharonAI Holdings
SHAZ
$1.24B
$106M 1.22%
1,945,876
+652,123
+50% +$39.6M
2026 Q1
2 quarters
TDAY icon
13
USA Today Co
TDAY
$1.06B
$91.2M 1.05%
14,504,707
+434,396
+3% +$3.2M
2024 Q4
7 quarters
ROIV icon
14
CALL
Roivant Sciences
ROIV
$24.1B
$82.1M 0.95%
2,244,400
+761,800
+51% +$27.6M
2025 Q3
4 quarters
WULF icon
15
CALL
TeraWulf
WULF
$6.58B
$78.1M 0.9%
5,275,000
+3,575,000
+210% +$62.6M
2026 Q2
1 quarter
CIFR icon
16
Cipher Digital
CIFR
$4.69B
$68.9M 0.79%
4,354,745
+2,314,745
+113% +$43M
2025 Q2
5 quarters
ABVX icon
17
Abivax
ABVX
$7.52B
$67M 0.77%
676,589
+431,999
+177% +$52.1M
2026 Q2
1 quarter
FSLR icon
18
First Solar
FSLR
$20B
$66.2M 0.76%
377,984
+250,000
+195% +$52.9M
2025 Q2
5 quarters
SOC icon
19
Sable Offshore Corp
SOC
$696M
$59.2M 0.68%
17,101,876
+8,724,240
+104% +$38.9M
2025 Q2
5 quarters
GLNG icon
20
Golar LNG
GLNG
$4.89B
$57.1M 0.66%
1,200,679
-21,100
-2% -$1.07M
2025 Q1
6 quarters
SEI icon
21
Solaris Energy Infrastructure
SEI
$5.13B
$56M 0.65%
+786,838
New +$47.9M
2026 Q3
0 quarters
VST icon
22
Vistra
VST
$54.6B
$52.4M 0.6%
378,854
-51,767
-12% -$7.62M
2024 Q1
10 quarters
WULF icon
23
TeraWulf
WULF
$6.58B
$50.1M 0.58%
3,384,531
+891,392
+36% +$15.6M
2025 Q1
6 quarters
ECHO icon
24
EchoStar
ECHO
$26.6B
$48.7M 0.56%
544,646
+41,671
+8% +$3.79M
2025 Q3
4 quarters
QMCO icon
25
Quantum Corp
QMCO
$1.05B
$47.3M 0.54%
1,490,992
-997,543
-40% -$18.6M
2026 Q2
1 quarter
1
2 3

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GA
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AAF
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CB
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HKAM
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MT
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Two Seas Capital's Q3 2026 Portfolio in Review

As of Q3 2026, Two Seas Capital held 55 positions worth $8.68B, up 72% from $5.05B the previous quarter. Its ten largest holdings account for 83% of the portfolio.

Two Seas Capital's Q3 2026 filing shows 8 new, 21 increased, 9 reduced and 8 closed positions. Its largest new stake was Solaris Energy Infrastructure: 786,838 shares worth $56M. The largest sale was Calumet Specialty Products, an estimated $63.3M.

By sector, the portfolio is most concentrated in Miscellaneous at 71% of assets, up from 48% a quarter earlier, followed by Healthcare and Technology.

  • Two Seas Capital's largest Q3 2026 buy was Solaris Energy Infrastructure: 786,838 shares worth $56M.
  • Two Seas Capital added most to Immunovant in Q3 2026, an estimated $57.7M increase.
  • Two Seas Capital's biggest Q3 2026 reduction was Calumet Specialty Products, cutting an estimated $63.3M.
  • Two Seas Capital fully exited Darling Ingredients in Q3 2026, selling an estimated $28.2M.
  • Two Seas Capital's ten largest holdings make up 83% of its $8.68B portfolio in Q3 2026.
  • Two Seas Capital opened 8 new positions and closed 8 in Q3 2026.
  • Two Seas Capital's portfolio value rose 72% quarter-over-quarter to $8.68B.

Based on Two Seas Capital's 13F filing for Q3 2026, filed 6 Oct 2026.