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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
+9.22%
1 Year Est. Return
+78.08%
3 Year Est. Return
+344.2%
5 Year Est. Return
+575.95%
10 Year Est. Return
–
AUM
$615M
AUM Growth
+$105M
Cap. Flow
+$121M
Cap. Flow %
19.61%
Top 10 Hldgs %
90.74%
Holding
21
New
3
Increased
10
Reduced
4
Closed
1
Avg Time Held Equity + Options
3.3 quarters
Top 10 Avg Time Held Equity + Options
3.8 quarters
Top 20 Avg Time Held Equity + Options
3.3 quarters
Avg Time Held Equity only
3.4 quarters
Top 10 Avg Time Held Equity only
3.8 quarters
Top 20 Avg Time Held Equity only
3.4 quarters

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 icon
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 Miscellaneous 12.4%
3 Technology 11.12%
4 Utilities 4.39%
5 Communication Services 4%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
INDV icon
1
Indivior Pharmaceuticals
INDV
$4.26B
$204M 33.09%
12,630,026
-620,976
-5% -$11.2M
2023 Q2
4 quarters
ROIV icon
2
Roivant Sciences
ROIV
$25B
$109M 17.73%
10,318,764
+2,388,415
+30% +$26.2M
2021 Q4
10 quarters
CORZ icon
3
Core Scientific
CORZ
$4.83B
$58M 9.43%
6,239,591
+2,408,624
+63% +$12.3M
2024 Q1
1 quarter
AVDL
4
DELISTED
Avadel Pharmaceuticals
AVDL
$29.7M 4.83%
2,115,279
+1,797,039
+565% +$29.3M
2024 Q1
1 quarter
VST icon
5
Vistra
VST
$53.1B
$27M 4.39%
314,082
+116,729
+59% +$9.77M
2024 Q1
1 quarter
ABUS icon
6
Arbutus Biopharma
ABUS
$822M
$26.5M 4.3%
8,571,751
+729,824
+9% +$2.19M
2021 Q4
10 quarters
IMVT icon
7
Immunovant
IMVT
$6.09B
$18.3M 2.97%
692,406
+151,111
+28% +$4.3M
2023 Q3
3 quarters
META icon
8
Meta Platforms (Facebook)
META
$1.89T
$15.6M 2.54%
30,958
-1,000
-3% -$486K
2022 Q4
6 quarters
ESPR icon
9
DELISTED
Esperion Therapeutics
ESPR
$12.7M 2.07%
5,735,660
+1,570,003
+38% +$3.69M
2023 Q2
4 quarters
SONO icon
10
Sonos
SONO
$2.05B
$10.4M 1.69%
703,928
+300,275
+74% +$4.98M
2022 Q3
7 quarters
GOOGL icon
11
Alphabet (Google) Class A
GOOGL
$4.31T
$8.99M 1.46%
49,371
+25,000
+103% +$4.21M
2024 Q1
1 quarter
ARQT icon
12
Arcutis Biotherapeutics
ARQT
$3.3B
$7.09M 1.15%
762,190
-47,142
-6% -$426K
2024 Q1
1 quarter
OMEX icon
13
Odyssey Marine Exploration
OMEX
$37.6M
$5.62M 0.91%
1,150,666
-86,949
-7% -$373K
2021 Q4
10 quarters
SHC icon
14
Sotera Health
SHC
$5.18B
$4.15M 0.68%
350,000
+50,000
+17% +$571K
2024 Q1
1 quarter
EXEL icon
15
CALL
Exelixis
EXEL
$14.8B
$2.5M 0.41%
+111,300
New +$2.47M
2024 Q2
0 quarters
WULF icon
16
TeraWulf
WULF
$6.67B
$2.23M 0.36%
+500,000
New +$1.35M
2024 Q2
0 quarters
CORZZ icon
17
Core Scientific Inc Tranche 2 Warrants
CORZZ
$1.23B
$2.02M 0.33%
233,540
– –
2024 Q1
1 quarter
CORZW icon
18
Core Scientific Inc Tranche 1 Warrants
CORZW
$818M
$1.26M 0.21%
280,248
– –
2024 Q1
1 quarter
TRML icon
19
DELISTED
Tourmaline Bio
TRML
– –
-21,891
Closed -$501K –

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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 $121M 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 Miscellaneous and Technology.

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.