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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
+42.62%
1 Year Est. Return
+169.27%
3 Year Est. Return
+279.82%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$5.96B
AUM Growth
+$2.78B
Cap. Flow
+$2.16B
Cap. Flow %
36.3%
Top 10 Hldgs %
92.04%
Holding
44
New
14
Increased
19
Reduced
5
Closed
5

Top Buys

Rank Stock Value
1
TDAY
USA Today Co
TDAY
+$26.1M
2
CLMT icon
Calumet Specialty Products
CLMT
+$20.7M
3
BUR icon
Burford Capital
BUR
+$20.6M
4
GLNG icon
Golar LNG
GLNG
+$15.5M
5
SQQQ icon
ProShares UltraPro Short QQQ
SQQQ
+$14.3M

Top Sells

Rank Stock Value
1
TLN
Talen Energy Corp
TLN
+$40.7M
2
CORZ icon
Core Scientific
CORZ
+$12.3M
3
ARDX icon
Ardelyx
ARDX
+$2.4M
4
HUT
Hut 8
HUT
+$1.53M
5
SONO icon
Sonos
SONO
+$1.46M

Sector Composition

Rank Sector Weight
1 Healthcare 8%
2 Utilities 2.52%
3 Technology 2.14%
4 Materials 1.22%
5 Communication Services 1.09%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ESPR
26
DELISTED
Esperion Therapeutics
ESPR
$9.8M 0.16%
9,954,975
+3,024,104
+44% +$3.03M
SQQQ icon
27
ProShares UltraPro Short QQQ
SQQQ
$2.21B
$9.79M 0.16%
+100,000
New +$14.3M
SOC icon
28
Sable Offshore Corp
SOC
$903M
$9.71M 0.16%
+441,677
New +$10.3M
ARDX icon
29
Ardelyx
ARDX
$1.24B
$6.03M 0.1%
1,539,416
-580,921
-27% -$2.4M
ADAP
30
DELISTED
Adaptimmune Therapeutics
ADAP
$5.41M 0.09%
22,580,701
+2,051,016
+10% +$547K
APLD icon
31
Applied Digital
APLD
$7.77B
$5.04M 0.08%
+500,000
New +$3.69M
CORZW icon
32
Core Scientific Inc Tranche 1 Warrants
CORZW
$1.57B
$3.65M 0.06%
336,378
+56,130
+20% +$279K
SONO icon
33
Sonos
SONO
$1.75B
$3.04M 0.05%
281,042
-150,000
-35% -$1.46M
NRG icon
34
NRG Energy
NRG
$29.8B
$2.41M 0.04%
+15,000
New +$1.98M
OMEX icon
35
Odyssey Marine Exploration
OMEX
$40.4M
$1.69M 0.03%
1,430,769
-1,118,280
-44% -$1.02M
FSLR icon
36
First Solar
FSLR
$21.8B
$1.66M 0.03%
+10,000
New +$1.48M
CIFR icon
37
Cipher Digital
CIFR
$9.47B
$1.2M 0.02%
+250,000
New +$809K
WOLF icon
38
Wolfspeed
WOLF
$1.2B
$962K 0.02%
+2,412,111
New +$5.5M
CORZZ icon
39
Core Scientific Inc Tranche 2 Warrants
CORZZ
$1.86B
$414K 0.01%
+24,107
New +$240K
TDAY
40
CALL
USA Today Co
TDAY
$1.23B
– –
-2,814,900
Closed -$8.14M
HUT
41
Hut 8
HUT
$12.4B
– –
-131,808
Closed -$1.53M
QQQ icon
42
PUT
Invesco QQQ Trust
QQQ
$455B
– –
-1,525,000
Closed -$715M
VST icon
43
CALL
Vistra
VST
$55.1B
– –
-300,000
Closed -$35.2M
TLN
44
CALL
Talen Energy Corp
TLN
$17.2B
– –
-250,000
Closed -$49.9M
1
2

Similar funds

UB
UMB Bank Kansas City, Missouri $7.16B AUM 20.88% 1-Year Est. Return
FPA
First Pacific Advisors El Segundo, California $7.14B AUM 21.51% 1-Year Est. Return
FPP
Findlay Park Partners London, United Kingdom $7.17B AUM 17.27% 1-Year Est. Return
SC
Saturna Capital Bellingham, Washington $7.13B AUM 35.47% 1-Year Est. Return
CFG
Citizens Financial Group Providence, Rhode Island $7.19B AUM 23.93% 1-Year Est. Return
DS
DRW Securities Chicago, Illinois $7.21B AUM 20.54% 1-Year Est. Return
MNA
Manning & Napier Advisors Fairport, New York $7.09B AUM 17.35% 1-Year Est. Return
NAMA
Nikko Asset Management Americas New York $7.07B AUM 50.91% 1-Year Est. Return

Two Seas Capital's Q2 2025 Portfolio in Review

As of Q2 2025, Two Seas Capital held 44 positions worth $5.96B, up 88% from $3.17B the previous quarter. Its ten largest holdings account for 92% of the portfolio.

Two Seas Capital deployed $2.16B of net new capital in Q2 2025, opening 14 new positions and adding to 19 existing holdings. Its largest new stake was Burford Capital: 1,577,670 shares worth $22.5M.

By sector, the portfolio is most concentrated in Healthcare at 8% of assets, down from 12% a quarter earlier, followed by Utilities and Technology.

On the sell side, the largest reduction was Talen Energy Corp, an estimated $40.7M trimmed.

  • Two Seas Capital's largest Q2 2025 buy was Burford Capital: 1,577,670 shares worth $22.5M.
  • Two Seas Capital added most to USA Today Co in Q2 2025, an estimated $26.1M increase.
  • Two Seas Capital's biggest Q2 2025 reduction was Talen Energy Corp, cutting an estimated $40.7M.
  • Two Seas Capital fully exited Hut 8 in Q2 2025, selling an estimated $1.53M.
  • Two Seas Capital's ten largest holdings make up 92% of its $5.96B portfolio in Q2 2025.
  • Two Seas Capital opened 14 new positions and closed 5 in Q2 2025.
  • Two Seas Capital's portfolio value rose 88% quarter-over-quarter to $5.96B.

Based on Two Seas Capital's 13F filing for Q2 2025, filed 13 Aug 2025.