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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
+9.22%
1 Year Est. Return
+169.27%
3 Year Est. Return
+279.82%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$615M
AUM Growth
+$105M
Cap. Flow
+$123M
Cap. Flow %
20.01%
Top 10 Hldgs %
90.74%
Holding
21
New
3
Increased
10
Reduced
4
Closed
1

Top Buys

Rank Stock Value
1
AVDL
Avadel Pharmaceuticals
AVDL
+$29.3M
2
ROIV icon
Roivant Sciences
ROIV
+$26.2M
3
CORZ icon
Core Scientific
CORZ
+$12.3M
4
VST icon
Vistra
VST
+$9.77M
5
SONO icon
Sonos
SONO
+$4.98M

Top Sells

Rank Stock Value
1
INDV icon
Indivior Pharmaceuticals
INDV
+$11.2M
2
TRML
Tourmaline Bio
TRML
+$501K
3
META icon
Meta Platforms (Facebook)
META
+$486K
4
ARQT icon
Arcutis Biotherapeutics
ARQT
+$426K
5
OMEX icon
Odyssey Marine Exploration
OMEX
+$373K

Sector Composition

Rank Sector Weight
1 Healthcare 66.82%
2 Technology 11.12%
3 Utilities 4.39%
4 Communication Services 4%
5 Materials 0.91%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
INDV icon
1
Indivior Pharmaceuticals
INDV
$4.58B
$204M 33.09%
12,630,026
-620,976
-5% -$11.2M
ROIV icon
2
Roivant Sciences
ROIV
$25B
$109M 17.73%
10,318,764
+2,388,415
+30% +$26.2M
CORZ icon
3
Core Scientific
CORZ
$7B
$58M 9.43%
6,239,591
+2,408,624
+63% +$12.3M
AVDL
4
DELISTED
Avadel Pharmaceuticals
AVDL
$29.7M 4.83%
2,115,279
+1,797,039
+565% +$29.3M
VST icon
5
Vistra
VST
$47.4B
$27M 4.39%
314,082
+116,729
+59% +$9.77M
ABUS icon
6
Arbutus Biopharma
ABUS
$913M
$26.5M 4.3%
8,571,751
+729,824
+9% +$2.19M
IMVT icon
7
Immunovant
IMVT
$8.06B
$18.3M 2.97%
692,406
+151,111
+28% +$4.3M
META icon
8
Meta Platforms (Facebook)
META
$1.5T
$15.6M 2.54%
30,958
-1,000
-3% -$486K
ESPR
9
DELISTED
Esperion Therapeutics
ESPR
$12.7M 2.07%
5,735,660
+1,570,003
+38% +$3.69M
SONO icon
10
Sonos
SONO
$1.88B
$10.4M 1.69%
703,928
+300,275
+74% +$4.98M
GOOGL icon
11
Alphabet (Google) Class A
GOOGL
$4.43T
$8.99M 1.46%
49,371
+25,000
+103% +$4.21M
ARQT icon
12
Arcutis Biotherapeutics
ARQT
$3.39B
$7.09M 1.15%
762,190
-47,142
-6% -$426K
OMEX icon
13
Odyssey Marine Exploration
OMEX
$43.5M
$5.62M 0.91%
1,150,666
-86,949
-7% -$373K
SHC icon
14
Sotera Health
SHC
$5.13B
$4.15M 0.68%
350,000
+50,000
+17% +$571K
EXEL icon
15
CALL
Exelixis
EXEL
$14.3B
$2.5M 0.41%
+111,300
New +$2.47M
WULF icon
16
TeraWulf
WULF
$8.95B
$2.23M 0.36%
+500,000
New +$1.35M
CORZZ icon
17
Core Scientific Inc Tranche 2 Warrants
CORZZ
$1.8B
$2.02M 0.33%
233,540
– –
CORZW icon
18
Core Scientific Inc Tranche 1 Warrants
CORZW
$1.48B
$1.26M 0.21%
280,248
– –
TRML
19
DELISTED
Tourmaline Bio
TRML
– –
-21,891
Closed -$501K

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UB
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FPA
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FPP
Findlay Park Partners London, United Kingdom $7.17B AUM 17.27% 1-Year Est. Return
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 Q2 2024 Portfolio in Review

As of Q2 2024, Two Seas Capital held 21 positions worth $615M, up 21% from $511M the previous quarter. Its ten largest holdings account for 91% of the portfolio.

Two Seas Capital deployed $123M of net new capital in Q2 2024, opening 3 new positions and adding to 10 existing holdings. Its largest new stake was TeraWulf: 500,000 shares worth $2.23M.

By sector, the portfolio is most concentrated in Healthcare at 67% of assets, down from 85% a quarter earlier, followed by Technology and Utilities.

On the sell side, the largest reduction was Indivior Pharmaceuticals, an estimated $11.2M trimmed.

  • Two Seas Capital's largest Q2 2024 buy was TeraWulf: 500,000 shares worth $2.23M.
  • Two Seas Capital added most to Avadel Pharmaceuticals in Q2 2024, an estimated $29.3M increase.
  • Two Seas Capital's biggest Q2 2024 reduction was Indivior Pharmaceuticals, cutting an estimated $11.2M.
  • Two Seas Capital fully exited Tourmaline Bio in Q2 2024, selling an estimated $501K.
  • Two Seas Capital's ten largest holdings make up 91% of its $615M portfolio in Q2 2024.
  • Two Seas Capital opened 3 new positions and closed 1 in Q2 2024.
  • Two Seas Capital's portfolio value rose 21% quarter-over-quarter to $615M.

Based on Two Seas Capital's 13F filing for Q2 2024, filed 14 Aug 2024.