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Two Seas Capital Portfolio holdings
AUM
$8.68B
1-Year Est. Return
78.08%
This Fund
S&P 500
This Quarter
Est. Return
+82.13%
1 Year Est. Return
+78.08%
3 Year Est. Return
+344.2%
5 Year Est. Return
+575.95%
10 Year Est. Return
–
AUM
$105M
AUM Growth
-$4.23M
(-3.9%)
Cap. Flow
-$16.6M
Cap. Flow
% of AUM
-15.78%
Top 10 Holdings %
Top 10 Hldgs %
100%
Holding
14
New
2
Increased
4
Reduced
3
Closed
4
Avg Time Held Equity + Options
2.9
quarters
Top 10 Avg Time Held Equity + Options
2.1
quarters
Top 20 Avg Time Held Equity + Options
2.9
quarters
Avg Time Held Equity only
2.9
quarters
Top 10 Avg Time Held Equity only
2.6
quarters
Top 20 Avg Time Held Equity only
2.9
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meta Platforms (Facebook)
META
|
+$8.07M |
| 2 |
Arbutus Biopharma
ABUS
|
+$4.43M |
| 3 |
Roivant Sciences
ROIV
|
+$3.01M |
| 4 |
Hertz Global Holdings Warrants
HTZWW
|
+$797K |
| 5 |
Roivant Sciences Ltd. Warrant
ROIVW
|
+$567K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
MTBL
Moatable, Inc. American Depositary Share (each representing forty-five (45) Class A Ordinary Shares)
MTBL
|
+$14.9M |
| 2 |
TWTR
Twitter, Inc.
TWTR
|
+$10.3M |
| 3 |
Hertz
HTZ
|
+$7.03M |
| 4 |
Octave Specialty Group
OSG
|
+$1.26M |
| 5 |
Sonos
SONO
|
+$164K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 65.39% |
| 2 | Industrials | 11.87% |
| 3 | Communication Services | 7.86% |
| 4 | Materials | 5.06% |
| 5 | Financials | 3.98% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Roivant Sciences
ROIV
$25B
| $51.2M | 48.65% |
6,410,440
+540,750
| +9% | +$3.01M |
2021 Q4
4 quarters
|
|
|
2
Arbutus Biopharma
ABUS
$822M
| $17.5M | 16.61% |
7,504,193
+1,850,276
| +33% | +$4.43M |
2021 Q4
4 quarters
|
|
|
3
Hertz
HTZ
$659M
| $12.5M | 11.87% |
811,761
-417,665
| -34% | -$7.03M |
2021 Q4
4 quarters
|
|
|
4
Meta Platforms (Facebook)
META
$1.89T
| $8.27M | 7.86% |
+68,750
| New | +$8.07M |
2022 Q4
0 quarters
|
|
5
Odyssey Marine Exploration
OMEX
$37.6M
| $5.32M | 5.06% |
1,371,874
| – | – |
2021 Q4
4 quarters
|
|
|
6
Octave Specialty Group
OSG
$211M
| $4.19M | 3.98% |
240,526
-85,000
| -26% | -$1.26M |
2021 Q4
4 quarters
|
|
|
7
Sonos
SONO
$2.05B
| $3.96M | 3.76% |
234,364
-10,074
| -4% | -$164K |
2022 Q3
1 quarter
|
|
|
8
DELISTED
Roivant Sciences Ltd. Warrant
ROIVW
| $1.22M | 1.16% |
629,505
+517,996
| +465% | +$567K |
2021 Q4
4 quarters
|
|
|
9
Hertz Global Holdings Warrants
HTZWW
$75.5M
| $975K | 0.93% |
130,767
+90,365
| +224% | +$797K |
2021 Q4
4 quarters
|
|
|
MNK
10
DELISTED
Mallinckrodt plc
MNK
| $134K | 0.13% |
+17,256
| New | +$193K |
2022 Q4
0 quarters
|
|
11
PUT
iShares MSCI EAFE ETF
EFA
$76.5B
| – | – |
-170,000
| Closed | -$9.52M | – |
|
12
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$822B
| – | – |
-36,000
| Closed | -$12.9M | – |
|
|
MTBL
13
DELISTED
Moatable, Inc. American Depositary Share (each representing forty-five (45) Class A Ordinary Shares)
MTBL
| – | – |
-5,029,250
| Closed | -$14.9M | – |
|
|
TWTR
14
DELISTED
Twitter, Inc.
TWTR
| – | – |
-235,494
| Closed | -$10.3M | – |
|
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Two Seas Capital's Q4 2022 Portfolio in Review
As of Q4 2022, Two Seas Capital held 14 positions worth $105M, down 3.9% from $110M the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Two Seas Capital withdrew a net $16.6M in Q4 2022, closing 4 positions and reducing 3 holdings. Its most notable exit was Moatable, Inc. American Depositary Share (each representing forty-five (45) Class A Ordinary Shares), an estimated $14.9M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 65% of assets, up from 27% a quarter earlier, followed by Industrials and Communication Services.
Against the trend, Two Seas Capital opened a new position in Meta Platforms (Facebook) worth $8.27M.
- Two Seas Capital's largest Q4 2022 buy was Meta Platforms (Facebook): 68,750 shares worth $8.27M.
- Two Seas Capital added most to Arbutus Biopharma in Q4 2022, an estimated $4.43M increase.
- Two Seas Capital's biggest Q4 2022 reduction was Hertz, cutting an estimated $7.03M.
- Two Seas Capital fully exited Moatable, Inc. American Depositary Share (each representing forty-five (45) Class A Ordinary Shares) in Q4 2022, selling an estimated $14.9M.
- Two Seas Capital's ten largest holdings make up 100% of its $105M portfolio in Q4 2022.
- Two Seas Capital opened 2 new positions and closed 4 in Q4 2022.
- Two Seas Capital's portfolio value fell 3.9% quarter-over-quarter to $105M.
Based on Two Seas Capital's 13F filing for Q4 2022, filed 14 Feb 2023.