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Two Seas Capital Portfolio holdings

AUM $7.15B
1-Year Est. Return 169.27%
This Fund
S&P 500
This Quarter Est. Return
+10.76%
1 Year Est. Return
+169.27%
3 Year Est. Return
+279.82%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.16B
AUM Growth
+$540M
Cap. Flow
+$483M
Cap. Flow %
41.7%
Top 10 Hldgs %
78.09%
Holding
37
New
11
Increased
14
Reduced
4
Closed
5

Top Buys

Rank Stock Value
1
SHC icon
Sotera Health
SHC
+$36.2M
2
CLMT icon
Calumet Specialty Products
CLMT
+$31M
3
AVDL
Avadel Pharmaceuticals
AVDL
+$24.8M
4
IMVT icon
Immunovant
IMVT
+$23.7M
5
TLN
Talen Energy Corp
TLN
+$23.3M

Top Sells

Rank Stock Value
1
EXEL icon
Exelixis
EXEL
+$11.8M
2
META icon
Meta Platforms (Facebook)
META
+$10.2M
3
INDV icon
Indivior Pharmaceuticals
INDV
+$5.89M
4
ARQT icon
Arcutis Biotherapeutics
ARQT
+$2.9M
5
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$2.62M

Sector Composition

Rank Sector Weight
1 Healthcare 39.49%
2 Utilities 16.32%
3 Technology 9.5%
4 Materials 3.55%
5 Financials 1.74%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GOOGL icon
26
Alphabet (Google) Class A
GOOGL
$4.43T
$4.73M 0.41%
25,000
-15,000
-38% -$2.62M
SOC icon
27
Sable Offshore Corp
SOC
$888M
$3.63M 0.31%
+158,518
New +$3.47M
TDAY
28
USA Today Co
TDAY
$1.27B
$2.53M 0.22%
+500,000
New +$2.66M
CORZW icon
29
Core Scientific Inc Tranche 1 Warrants
CORZW
$1.48B
$2.31M 0.2%
280,248
– –
BTBT icon
30
Bit Digital
BTBT
$482M
$1.94M 0.17%
662,414
+250,000
+61% +$983K
OMEX icon
31
Odyssey Marine Exploration
OMEX
$43.5M
$1.84M 0.16%
2,549,049
+2,449,049
+2,449% +$1.24M
ARQT icon
32
Arcutis Biotherapeutics
ARQT
$3.39B
– –
-312,122
Closed -$2.9M
EXEL icon
33
CALL
Exelixis
EXEL
$14.3B
– –
-907,900
Closed -$23.6M
EXEL icon
34
Exelixis
EXEL
$14.3B
– –
-453,103
Closed -$11.8M
PCRX icon
35
PUT
Pacira BioSciences
PCRX
$979M
– –
-158,400
Closed -$2.38M
WULF icon
36
TeraWulf
WULF
$8.95B
– –
-432,626
Closed -$2.02M
1
2

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FPP
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SC
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CFG
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DS
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MNA
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NAMA
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Two Seas Capital's Q4 2024 Portfolio in Review

As of Q4 2024, Two Seas Capital held 37 positions worth $1.16B, up 87% from $617M the previous quarter. Its ten largest holdings account for 78% of the portfolio.

Two Seas Capital deployed $483M of net new capital in Q4 2024, opening 11 new positions and adding to 14 existing holdings. Its largest new stake was Adaptimmune Therapeutics: 14,835,146 shares worth $7.99M.

By sector, the portfolio is most concentrated in Healthcare at 39% of assets, down from 57% a quarter earlier, followed by Utilities and Technology.

On the sell side, the largest reduction was Meta Platforms (Facebook), an estimated $10.2M trimmed.

  • Two Seas Capital's largest Q4 2024 buy was Adaptimmune Therapeutics: 14,835,146 shares worth $7.99M.
  • Two Seas Capital added most to Sotera Health in Q4 2024, an estimated $36.2M increase.
  • Two Seas Capital's biggest Q4 2024 reduction was Meta Platforms (Facebook), cutting an estimated $10.2M.
  • Two Seas Capital fully exited Exelixis in Q4 2024, selling an estimated $11.8M.
  • Two Seas Capital's ten largest holdings make up 78% of its $1.16B portfolio in Q4 2024.
  • Two Seas Capital opened 11 new positions and closed 5 in Q4 2024.
  • Two Seas Capital's portfolio value rose 87% quarter-over-quarter to $1.16B.

Based on Two Seas Capital's 13F filing for Q4 2024, filed 14 Feb 2025.