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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
+18.89%
1 Year Est. Return
+164.99%
3 Year Est. Return
+386.97%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$7.15B
AUM Growth
+$2.3B
Cap. Flow
+$276M
Cap. Flow %
3.86%
Top 10 Hldgs %
83.2%
Holding
52
New
14
Increased
15
Reduced
15
Closed
5

Top Buys

Rank Stock Value
1
NKTR icon
Nektar Therapeutics
NKTR
+$69.1M
2
TLN
Talen Energy Corp
TLN
+$66M
3
SOC icon
Sable Offshore Corp
SOC
+$44M
4
CIFR icon
Cipher Digital
CIFR
+$27.6M
5
SHC icon
Sotera Health
SHC
+$26.7M

Top Sells

Rank Stock Value
1
CLMT icon
Calumet Specialty Products
CLMT
+$26.3M
2
NBIS
Nebius Group N.V.
NBIS
+$14.8M
3
CORZ icon
Core Scientific
CORZ
+$14.7M
4
HUT
Hut 8
HUT
+$13.1M
5
INDV icon
Indivior Pharmaceuticals
INDV
+$12M

Sector Composition

Rank Sector Weight
1 Miscellaneous 69.92%
2 Healthcare 12.21%
3 Technology 5.15%
4 Utilities 3.27%
5 Materials 3.06%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VST icon
26
Vistra
VST
$46.9B
$27.9M 0.39%
185,597
-64,110
-26% -$10.4M
CIFR icon
27
Cipher Digital
CIFR
$6.96B
$26.4M 0.37%
2,050,000
+1,744,244
+570% +$27.6M
QURE icon
28
uniQure
QURE
$3.44B
$21.3M 0.3%
+1,300,000
New +$26.3M
TAC icon
29
TransAlta
TAC
$3.95B
$20.9M 0.29%
+1,597,900
New +$20.6M
NBIS
30
Nebius Group N.V.
NBIS
$59.4B
$20.4M 0.28%
196,475
-148,007
-43% -$14.8M
ROIV icon
31
CALL
Roivant Sciences
ROIV
$27.1B
$20.3M 0.28%
732,300
-1,703,200
-70% -$43.8M
STAA icon
32
STAAR Surgical
STAA
$1.12B
$19.4M 0.27%
+1,036,973
New +$19.8M
BTDR icon
33
Bitdeer Technologies
BTDR
$3.08B
$19.2M 0.27%
+2,223,999
New +$23.4M
IBIT icon
34
PUT
iShares Bitcoin Trust
IBIT
$60.4B
$19.2M 0.27%
500,000
-718,000
-59% -$31.1M
GLNG icon
35
CALL
Golar LNG
GLNG
$5.26B
$13.5M 0.19%
+250,000
New +$11M
SONO icon
36
Sonos
SONO
$1.79B
$12.3M 0.17%
919,327
+596,865
+185% +$9.02M
HUT
37
Hut 8
HUT
$10.7B
$11.7M 0.16%
250,000
-241,500
-49% -$13.1M
MSOS icon
38
AdvisorShares Pure US Cannabis ETF
MSOS
$970M
$11.7M 0.16%
3,302,409
+50,000
+2% +$205K
SHAZ
39
SharonAI Holdings
SHAZ
$2.12B
$9.47M 0.13%
+416,666
New +$10M
MSOS icon
40
CALL
AdvisorShares Pure US Cannabis ETF
MSOS
$970M
$7.9M 0.11%
2,225,300
-1,350,000
-38% -$5.53M
PAVM icon
41
PAVmed
PAVM
$40.5M
$4.68M 0.07%
+461,539
New +$4.37M
OMEX icon
42
Odyssey Marine Exploration
OMEX
$52.9M
$4.66M 0.07%
5,592,985
+407,956
+8% +$693K
LUCD icon
43
Lucid Diagnostics
LUCD
$188M
$3.45M 0.05%
3,000,000
– –
CORZW icon
44
Core Scientific Inc Tranche 1 Warrants
CORZW
$1.08B
$2.53M 0.04%
289,539
– –
DAR icon
45
Darling Ingredients
DAR
$9.69B
$1.02M 0.01%
+16,527
New +$814K
CORZZ icon
46
Core Scientific Inc Tranche 2 Warrants
CORZZ
$1.45B
$362K 0.01%
24,107
– –
FRMI
47
Fermi Inc
FRMI
$3.49B
$147K ﹤0.01%
+25,211
New +$221K
CLMT icon
48
CALL
Calumet Specialty Products
CLMT
$4.02B
– –
-1,122,000
Closed -$22.3M
HUT
49
CALL
Hut 8
HUT
$10.7B
– –
-1,752,500
Closed -$80.5M
IWM icon
50
PUT
iShares Russell 2000 ETF
IWM
$81.9B
– –
-1,050,000
Closed -$258M
1
2
3

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Two Seas Capital's Q1 2026 Portfolio in Review

As of Q1 2026, Two Seas Capital held 52 positions worth $7.15B, up 47% from $4.85B the previous quarter. Its ten largest holdings account for 83% of the portfolio.

Two Seas Capital deployed $276M of net new capital in Q1 2026, opening 14 new positions and adding to 15 existing holdings. Its largest new stake was uniQure: 1,300,000 shares worth $21.3M.

By sector, the portfolio is most concentrated in Miscellaneous at 70% of assets, up from 65% a quarter earlier, followed by Healthcare and Technology.

On the sell side, the largest reduction was Calumet Specialty Products, an estimated $26.3M trimmed.

  • Two Seas Capital's largest Q1 2026 buy was uniQure: 1,300,000 shares worth $21.3M.
  • Two Seas Capital added most to Nektar Therapeutics in Q1 2026, an estimated $69.1M increase.
  • Two Seas Capital's biggest Q1 2026 reduction was Calumet Specialty Products, cutting an estimated $26.3M.
  • Two Seas Capital fully exited Meta Platforms (Facebook) in Q1 2026, selling an estimated $9.42M.
  • Two Seas Capital's ten largest holdings make up 83% of its $7.15B portfolio in Q1 2026.
  • Two Seas Capital opened 14 new positions and closed 5 in Q1 2026.
  • Two Seas Capital's portfolio value rose 47% quarter-over-quarter to $7.15B.

Based on Two Seas Capital's 13F filing for Q1 2026, filed 15 May 2026.