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TSC
Two Seas Capital Portfolio holdings
AUM
$7.15B
1-Year Est. Return
169.27%
This Fund
S&P 500
This Quarter
Est. Return
-14.73%
1 Year Est. Return
+169.27%
3 Year Est. Return
+279.82%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$76.8M
AUM Growth
-$42.5M
(-36%)
Cap. Flow
-$22.9M
Cap. Flow
% of AUM
-29.86%
Top 10 Holdings %
Top 10 Hldgs %
100%
Holding
12
New
–
Increased
5
Reduced
2
Closed
4
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Roivant Sciences
ROIV
|
+$10.4M |
| 2 |
Arbutus Biopharma
ABUS
|
+$3.33M |
| 3 |
Odyssey Marine Exploration
OMEX
|
+$2.16M |
| 4 |
MTBL
Moatable, Inc. American Depositary Share (each representing forty-five (45) Class A Ordinary Shares)
MTBL
|
+$2.07M |
| 5 |
OSG
Octave Specialty Group
OSG
|
+$332K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Hertz
HTZ
|
+$35.2M |
| 2 |
JOBS
51job Inc
JOBS
|
+$2.45M |
| 3 |
Sonos
SONO
|
+$2.3M |
| 4 |
ENDP
Endo International plc
ENDP
|
+$438K |
| 5 |
HTZWW
Hertz Global Holdings Warrants
HTZWW
|
+$122K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 44.53% |
| 2 | Healthcare | 30.47% |
| 3 | Technology | 14.97% |
| 4 | Materials | 5.46% |
| 5 | Financials | 3.97% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Hertz
HTZ
$493M
| $34.2M | 44.53% |
2,159,856
-1,786,435
| -45% | -$35.2M |
|
|
2
Roivant Sciences
ROIV
$25B
| $13.9M | 18.12% |
3,419,836
+2,612,929
| +324% | +$10.4M |
|
|
MTBL
3
DELISTED
Moatable, Inc. American Depositary Share (each representing forty-five (45) Class A Ordinary Shares)
MTBL
| $11.5M | 14.97% |
3,976,550
+751,840
| +23% | +$2.07M |
|
|
4
Arbutus Biopharma
ABUS
$913M
| $9.49M | 12.35% |
3,501,876
+1,302,807
| +59% | +$3.33M |
|
|
5
Odyssey Marine Exploration
OMEX
$43.5M
| $4.19M | 5.46% |
1,229,579
+447,761
| +57% | +$2.16M |
|
|
OSG
6
Octave Specialty Group
OSG
$256M
| $3.05M | 3.97% |
268,457
+35,000
| +15% | +$332K |
|
|
HTZWW
7
Hertz Global Holdings Warrants
HTZWW
$67.7M
| $402K | 0.52% |
41,013
-9,433
| -19% | -$122K |
|
|
ROIVW
8
DELISTED
Roivant Sciences Ltd. Warrant
ROIVW
| $67K | 0.09% |
111,509
| – | – |
|
|
9
CALL
Hertz
HTZ
$493M
| – | – |
-2,000
| Closed | -$660K |
|
|
10
Sonos
SONO
$1.88B
| – | – |
-81,362
| Closed | -$2.3M |
|
|
ENDP
11
DELISTED
Endo International plc
ENDP
| – | – |
-189,543
| Closed | -$438K |
|
|
JOBS
12
DELISTED
51job Inc
JOBS
| – | – |
-41,865
| Closed | -$2.45M |
|
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Two Seas Capital's Q2 2022 Portfolio in Review
As of Q2 2022, Two Seas Capital held 12 positions worth $76.8M, down 36% from $119M the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Two Seas Capital withdrew a net $22.9M in Q2 2022, closing 4 positions and reducing 2 holdings. Its most notable exit was 51job Inc, an estimated $2.45M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 45% of assets, down from 75% a quarter earlier, followed by Healthcare and Technology.
Against the trend, Two Seas Capital added an estimated $10.4M to Roivant Sciences.
- Two Seas Capital added most to Roivant Sciences in Q2 2022, an estimated $10.4M increase.
- Two Seas Capital's biggest Q2 2022 reduction was Hertz, cutting an estimated $35.2M.
- Two Seas Capital fully exited 51job Inc in Q2 2022, selling an estimated $2.45M.
- Two Seas Capital's ten largest holdings make up 100% of its $76.8M portfolio in Q2 2022.
- Two Seas Capital opened 0 new positions and closed 4 in Q2 2022.
- Two Seas Capital's portfolio value fell 36% quarter-over-quarter to $76.8M.
Based on Two Seas Capital's 13F filing for Q2 2022, filed 12 Aug 2022.