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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
+27.23%
1 Year Est. Return
+78.08%
3 Year Est. Return
+344.2%
5 Year Est. Return
+575.95%
10 Year Est. Return
–
AUM
$511M
AUM Growth
+$101M
Cap. Flow
+$6.81M
Cap. Flow %
1.33%
Top 10 Hldgs %
94.81%
Holding
22
New
9
Increased
3
Reduced
5
Closed
4
Avg Time Held Equity + Options
2.7 quarters
Top 10 Avg Time Held Equity + Options
3.3 quarters
Top 20 Avg Time Held Equity + Options
2.7 quarters
Avg Time Held Equity only
2.7 quarters
Top 10 Avg Time Held Equity only
3.3 quarters
Top 20 Avg Time Held Equity only
2.7 quarters

Top Buys

Rank Stock Value
1
CORZ icon
Core Scientific
CORZ
+$13.3M
2
IMVT icon
Immunovant
IMVT
+$12.5M
3
VST icon
Vistra
VST
+$9.76M
4
ARQT icon
Arcutis Biotherapeutics
ARQT
+$6.04M
5
AVDL
Avadel Pharmaceuticals
AVDL
+$4.74M

Top Sells

Rank Stock Value
1
MMM icon
3M
MMM
+$15.8M
2
INDV icon
Indivior Pharmaceuticals
INDV
+$10.5M
3
ESPR icon
Esperion Therapeutics
ESPR
+$8.55M
4
ROIV icon
Roivant Sciences
ROIV
+$6.23M
5
ABUS icon
Arbutus Biopharma
ABUS
+$3.11M

Sector Composition

Rank Sector Weight
1 Healthcare 84.97%
2 Technology 4.16%
3 Communication Services 3.76%
4 Miscellaneous 3.49%
5 Utilities 2.69%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
INDV icon
1
Indivior Pharmaceuticals
INDV
$4.26B
$284M 55.6%
13,251,002
-559,891
-4% -$10.5M
2023 Q2
3 quarters
ROIV icon
2
Roivant Sciences
ROIV
$25.1B
$83.6M 16.37%
7,930,349
-577,874
-7% -$6.23M
2021 Q4
9 quarters
ABUS icon
3
Arbutus Biopharma
ABUS
$810M
$20.2M 3.96%
7,841,927
-1,200,000
-13% -$3.11M
2021 Q4
9 quarters
IMVT icon
4
Immunovant
IMVT
$6.05B
$17.5M 3.43%
541,295
+342,543
+172% +$12.5M
2023 Q3
2 quarters
META icon
5
Meta Platforms (Facebook)
META
$1.95T
$15.5M 3.04%
31,958
+5,783
+22% +$2.58M
2022 Q4
5 quarters
VST icon
6
Vistra
VST
$53.2B
$13.7M 2.69%
+197,353
New +$9.76M
2024 Q1
0 quarters
CORZ icon
7
Core Scientific
CORZ
$4.77B
$13.6M 2.66%
+3,830,967
New +$13.3M
2024 Q1
0 quarters
ESPR icon
8
DELISTED
Esperion Therapeutics
ESPR
$11.2M 2.19%
4,165,657
-3,520,463
-46% -$8.55M
2023 Q2
3 quarters
ARQT icon
9
Arcutis Biotherapeutics
ARQT
$3.27B
$8.02M 1.57%
+809,332
New +$6.04M
2024 Q1
0 quarters
SONO icon
10
Sonos
SONO
$2.07B
$7.69M 1.51%
403,653
+223,921
+125% +$3.97M
2022 Q3
6 quarters
AVDL
11
DELISTED
Avadel Pharmaceuticals
AVDL
$5.38M 1.05%
+318,240
New +$4.74M
2024 Q1
0 quarters
OMEX icon
12
Odyssey Marine Exploration
OMEX
$37.6M
$4.72M 0.92%
1,237,615
-134,259
-10% -$597K
2021 Q4
9 quarters
GOOGL icon
13
Alphabet (Google) Class A
GOOGL
$4.36T
$3.68M 0.72%
+24,371
New +$3.49M
2024 Q1
0 quarters
SHC icon
14
Sotera Health
SHC
$5.12B
$3.6M 0.71%
+300,000
New +$4.46M
2024 Q1
0 quarters
CORZZ icon
15
Core Scientific Inc Tranche 2 Warrants
CORZZ
$1.18B
$563K 0.11%
+233,540
New +$574K
2024 Q1
0 quarters
TRML icon
16
DELISTED
Tourmaline Bio
TRML
$501K 0.1%
+21,891
New +$772K
2024 Q1
0 quarters
CORZW icon
17
Core Scientific Inc Tranche 1 Warrants
CORZW
$794M
$373K 0.07%
+280,248
New +$416K
2024 Q1
0 quarters
HTZ icon
18
Hertz
HTZ
$652M
– –
-77,188
Closed -$802K –
HTZWW icon
19
Hertz Global Holdings Warrants
HTZWW
$72.9M
– –
-16,841
Closed -$92.3K –
IMVT icon
20
CALL
Immunovant
IMVT
$6.05B
– –
-86,600
Closed -$3.65M –
MMM icon
21
3M
MMM
$82.5B
– –
-173,168
Closed -$15.8M –

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Two Seas Capital's Q1 2024 Portfolio in Review

As of Q1 2024, Two Seas Capital held 22 positions worth $511M, up 25% from $410M the previous quarter. Its ten largest holdings account for 95% of the portfolio.

Two Seas Capital's Q1 2024 filing shows 9 new, 3 increased, 5 reduced and 4 closed positions. Its largest new stake was Core Scientific: 3,830,967 shares worth $13.6M. The largest sale was 3M, an estimated $15.8M.

By sector, the portfolio is most concentrated in Healthcare at 85% of assets, down from 88% a quarter earlier, followed by Technology and Communication Services.

  • Two Seas Capital's largest Q1 2024 buy was Core Scientific: 3,830,967 shares worth $13.6M.
  • Two Seas Capital added most to Immunovant in Q1 2024, an estimated $12.5M increase.
  • Two Seas Capital's biggest Q1 2024 reduction was Indivior Pharmaceuticals, cutting an estimated $10.5M.
  • Two Seas Capital fully exited 3M in Q1 2024, selling an estimated $15.8M.
  • Two Seas Capital's ten largest holdings make up 95% of its $511M portfolio in Q1 2024.
  • Two Seas Capital opened 9 new positions and closed 4 in Q1 2024.
  • Two Seas Capital's portfolio value rose 25% quarter-over-quarter to $511M.

Based on Two Seas Capital's 13F filing for Q1 2024, filed 15 May 2024.