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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
+39.96%
1 Year Est. Return
+169.27%
3 Year Est. Return
+279.82%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$6.23B
AUM Growth
+$274M
Cap. Flow
-$456M
Cap. Flow %
-7.32%
Top 10 Hldgs %
87.65%
Holding
53
New
14
Increased
16
Reduced
9
Closed
12

Top Buys

Rank Stock Value
1
CORZ icon
Core Scientific
CORZ
+$126M
2
FSLR icon
First Solar
FSLR
+$63.5M
3
CRWV
CoreWeave
CRWV
+$33M
4
CLMT icon
Calumet Specialty Products
CLMT
+$20.6M
5
ROIV icon
Roivant Sciences
ROIV
+$14.3M

Top Sells

Rank Stock Value
1
INDV icon
Indivior Pharmaceuticals
INDV
+$18.9M
2
CEG icon
Constellation Energy
CEG
+$15.4M
3
IREN icon
Iris Energy
IREN
+$14.2M
4
TLN
Talen Energy Corp
TLN
+$12.2M
5
VST icon
Vistra
VST
+$12.1M

Sector Composition

Rank Sector Weight
1 Healthcare 11.1%
2 Technology 6.6%
3 Utilities 2.36%
4 Communication Services 2.01%
5 Materials 1.83%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RUN icon
51
PUT
Sunrun
RUN
$2.38B
– –
-1,942,700
Closed -$15.9M
SQQQ icon
52
ProShares UltraPro Short QQQ
SQQQ
$2.11B
– –
-100,000
Closed -$9.79M
WOLF icon
53
Wolfspeed
WOLF
$1.24B
– –
-2,412,111
Closed -$962K
1 2
3

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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 Q3 2025 Portfolio in Review

As of Q3 2025, Two Seas Capital held 53 positions worth $6.23B, up 4.6% from $5.96B the previous quarter. Its ten largest holdings account for 88% of the portfolio.

Two Seas Capital withdrew a net $456M in Q3 2025, closing 12 positions and reducing 9 holdings. Its most notable exit was Constellation Energy, an estimated $15.4M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 11% of assets, up from 8% a quarter earlier, followed by Technology and Utilities.

Against the trend, Two Seas Capital opened a new position in CoreWeave worth $38.2M.

  • Two Seas Capital's largest Q3 2025 buy was CoreWeave: 279,051 shares worth $38.2M.
  • Two Seas Capital added most to Core Scientific in Q3 2025, an estimated $126M increase.
  • Two Seas Capital's biggest Q3 2025 reduction was Indivior Pharmaceuticals, cutting an estimated $18.9M.
  • Two Seas Capital fully exited Constellation Energy in Q3 2025, selling an estimated $15.4M.
  • Two Seas Capital's ten largest holdings make up 88% of its $6.23B portfolio in Q3 2025.
  • Two Seas Capital opened 14 new positions and closed 12 in Q3 2025.
  • Two Seas Capital's portfolio value rose 4.6% quarter-over-quarter to $6.23B.

Based on Two Seas Capital's 13F filing for Q3 2025, filed 14 Nov 2025.