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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
-20.38%
1 Year Est. Return
+169.27%
3 Year Est. Return
+279.82%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$3.17B
AUM Growth
+$2.02B
(+174%)
Cap. Flow
+$2.34B
Cap. Flow
% of AUM
73.87%
Top 10 Holdings %
Top 10 Hldgs %
91.99%
Holding
38
New
7
Increased
13
Reduced
8
Closed
8
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Golar LNG
GLNG
|
+$20.2M |
| 2 |
Core Scientific
CORZ
|
+$20.1M |
| 3 |
Calumet Specialty Products
CLMT
|
+$17M |
| 4 |
FTAI Aviation
FTAI
|
+$13.7M |
| 5 |
TDAY
USA Today Co
TDAY
|
+$12.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vistra
VST
|
+$25M |
| 2 |
Constellation Energy
CEG
|
+$22M |
| 3 |
TLN
Talen Energy Corp
TLN
|
+$20.9M |
| 4 |
Indivior Pharmaceuticals
INDV
|
+$11.5M |
| 5 |
Meta Platforms (Facebook)
META
|
+$10.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 11.71% |
| 2 | Utilities | 3.75% |
| 3 | Technology | 1.97% |
| 4 | Materials | 1.18% |
| 5 | Energy | 0.62% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
NBIS
26
Nebius Group N.V.
NBIS
$55.6B
| $3.17M | 0.1% |
+150,000
| New | +$4.93M |
|
|
HUT
27
Hut 8
HUT
$10.4B
| $1.53M | 0.05% |
131,808
-345,000
| -72% | -$6.37M |
|
28
Odyssey Marine Exploration
OMEX
$43.5M
| $1.02M | 0.03% |
2,549,049
| – | – |
|
|
29
Core Scientific Inc Tranche 1 Warrants
CORZW
$1.48B
| $849K | 0.03% |
280,248
| – | – |
|
30
TeraWulf
WULF
$8.95B
| $585K | 0.02% |
+214,371
| New | +$955K |
|
31
Applied Digital
APLD
$8.6B
| – | – |
-662,587
| Closed | -$5.06M |
|
32
Bit Digital
BTBT
$482M
| – | – |
-662,414
| Closed | -$1.94M |
|
33
Bitdeer Technologies
BTDR
$2.69B
| – | – |
-433,028
| Closed | -$9.38M |
|
|
34
Constellation Energy
CEG
$94.7B
| – | – |
-98,463
| Closed | -$22M |
|
|
35
CALL
Calumet Specialty Products
CLMT
$3.51B
| – | – |
-400,000
| Closed | -$8.81M |
|
36
Alphabet (Google) Class A
GOOGL
$4.43T
| – | – |
-25,000
| Closed | -$4.73M |
|
|
37
Meta Platforms (Facebook)
META
$1.5T
| – | – |
-18,516
| Closed | -$10.8M |
|
38
Sable Offshore Corp
SOC
$888M
| – | – |
-158,518
| Closed | -$3.63M |
|
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Two Seas Capital's Q1 2025 Portfolio in Review
As of Q1 2025, Two Seas Capital held 38 positions worth $3.17B, up 174% from $1.16B the previous quarter. Its ten largest holdings account for 92% of the portfolio.
Two Seas Capital deployed $2.34B of net new capital in Q1 2025, opening 7 new positions and adding to 13 existing holdings. Its largest new stake was Golar LNG: 515,949 shares worth $19.6M.
By sector, the portfolio is most concentrated in Healthcare at 12% of assets, down from 39% a quarter earlier, followed by Utilities and Technology.
On the sell side, the largest reduction was Vistra, an estimated $25M trimmed.
- Two Seas Capital's largest Q1 2025 buy was Golar LNG: 515,949 shares worth $19.6M.
- Two Seas Capital added most to Core Scientific in Q1 2025, an estimated $20.1M increase.
- Two Seas Capital's biggest Q1 2025 reduction was Vistra, cutting an estimated $25M.
- Two Seas Capital fully exited Constellation Energy in Q1 2025, selling an estimated $22M.
- Two Seas Capital's ten largest holdings make up 92% of its $3.17B portfolio in Q1 2025.
- Two Seas Capital opened 7 new positions and closed 8 in Q1 2025.
- Two Seas Capital's portfolio value rose 174% quarter-over-quarter to $3.17B.
Based on Two Seas Capital's 13F filing for Q1 2025, filed 15 May 2025.