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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
-20.38%
1 Year Est. Return
+78.08%
3 Year Est. Return
+344.2%
5 Year Est. Return
+575.95%
10 Year Est. Return
–
AUM
$3.17B
AUM Growth
+$2.02B
(+174%)
Cap. Flow
-$14M
Cap. Flow
% of AUM
-0.44%
Top 10 Holdings %
Top 10 Hldgs %
91.99%
Holding
38
New
7
Increased
13
Reduced
8
Closed
8
Avg Time Held Equity + Options
3.5
quarters
Top 10 Avg Time Held Equity + Options
3.3
quarters
Top 20 Avg Time Held Equity + Options
3.5
quarters
Avg Time Held Equity only
4.3
quarters
Top 10 Avg Time Held Equity only
5.4
quarters
Top 20 Avg Time Held Equity only
4.1
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Golar LNG
GLNG
|
+$20.2M |
| 2 |
Core Scientific
CORZ
|
+$20.1M |
| 3 |
Calumet Specialty Products
CLMT
|
+$17M |
| 4 |
FTAI Aviation
FTAI
|
+$13.7M |
| 5 |
USA Today Co
TDAY
|
+$12.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vistra
VST
|
+$25M |
| 2 |
Constellation Energy
CEG
|
+$22M |
| 3 |
Talen Energy Corp
TLN
|
+$20.9M |
| 4 |
Indivior Pharmaceuticals
INDV
|
+$11.5M |
| 5 |
Meta Platforms (Facebook)
META
|
+$10.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 79.76% |
| 2 | Healthcare | 11.71% |
| 3 | Utilities | 3.75% |
| 4 | Technology | 1.97% |
| 5 | Materials | 1.18% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$821B
| $1.14B | 35.86% |
2,035,000
+1,835,000
| +918% | +$1.08B |
2024 Q4
1 quarter
|
|
2
PUT
Invesco QQQ Trust
QQQ
$497B
| $715M | 22.53% |
1,525,000
+1,326,000
| +666% | +$674M |
2024 Q4
1 quarter
|
|
3
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.9B
| $578M | 18.21% |
+7,325,500
| New | +$581M |
2025 Q1
0 quarters
|
|
|
4
Indivior Pharmaceuticals
INDV
$4.28B
| $107M | 3.36% |
11,366,777
-1,090,737
| -9% | -$11.5M |
2023 Q2
7 quarters
|
|
5
Roivant Sciences
ROIV
$25.1B
| $102M | 3.22% |
10,136,307
-31,500
| -0.3% | -$341K |
2021 Q4
13 quarters
|
|
|
6
Talen Energy Corp
TLN
$18B
| $94.3M | 2.97% |
472,275
-96,200
| -17% | -$20.9M |
2024 Q3
2 quarters
|
|
|
7
Core Scientific
CORZ
$4.83B
| $57.9M | 1.82% |
7,995,574
+1,762,686
| +28% | +$20.1M |
2024 Q1
4 quarters
|
|
|
8
CALL
Talen Energy Corp
TLN
$18B
| $49.9M | 1.57% |
250,000
-100,000
| -29% | -$21.7M |
2024 Q4
1 quarter
|
|
|
AVDL
9
DELISTED
Avadel Pharmaceuticals
AVDL
| $38.7M | 1.22% |
4,946,449
+650,000
| +15% | +$5.44M |
2024 Q1
4 quarters
|
|
10
Sotera Health
SHC
$5.16B
| $38.7M | 1.22% |
3,321,136
+425,000
| +15% | +$5.47M |
2024 Q1
4 quarters
|
|
|
11
Calumet Specialty Products
CLMT
$5.08B
| $36.3M | 1.15% |
2,866,511
+1,083,177
| +61% | +$17M |
2024 Q3
2 quarters
|
|
|
12
CALL
Vistra
VST
$54B
| $35.2M | 1.11% |
+300,000
| New | +$44.8M |
2025 Q1
0 quarters
|
|
13
Arbutus Biopharma
ABUS
$810M
| $33M | 1.04% |
9,465,956
+725,000
| +8% | +$2.42M |
2021 Q4
13 quarters
|
|
14
Immunovant
IMVT
$6.06B
| $28.1M | 0.88% |
1,642,772
+131,158
| +9% | +$2.74M |
2023 Q3
6 quarters
|
|
|
15
Vistra
VST
$54B
| $24.8M | 0.78% |
211,435
-167,650
| -44% | -$25M |
2024 Q1
4 quarters
|
|
|
16
Golar LNG
GLNG
$4.9B
| $19.6M | 0.62% |
+515,949
| New | +$20.2M |
2025 Q1
0 quarters
|
|
|
17
FTAI Aviation
FTAI
$17.1B
| $12.8M | 0.4% |
+115,663
| New | +$13.7M |
2025 Q1
0 quarters
|
|
18
Ardelyx
ARDX
$813M
| $10.4M | 0.33% |
2,120,337
+265,000
| +14% | +$1.42M |
2024 Q4
1 quarter
|
|
19
DELISTED
Esperion Therapeutics
ESPR
| $9.98M | 0.31% |
6,930,871
+700,000
| +11% | +$1.29M |
2023 Q2
7 quarters
|
|
|
20
USA Today Co
TDAY
$995M
| $9.93M | 0.31% |
3,437,206
+2,937,206
| +587% | +$12.3M |
2024 Q4
1 quarter
|
|
|
21
CALL
USA Today Co
TDAY
$995M
| $8.14M | 0.26% |
2,814,900
+294,100
| +12% | +$1.23M |
2024 Q4
1 quarter
|
|
|
22
CALL
Core Scientific
CORZ
$4.83B
| $6.06M | 0.19% |
+836,500
| New | +$9.52M |
2025 Q1
0 quarters
|
|
23
Sonos
SONO
$2.1B
| $4.6M | 0.14% |
431,042
-97,886
| -19% | -$1.29M |
2022 Q3
10 quarters
|
|
24
Iris Energy
IREN
$13.3B
| $4.05M | 0.13% |
665,000
-195,000
| -23% | -$1.9M |
2024 Q3
2 quarters
|
|
|
ADAP
25
DELISTED
Adaptimmune Therapeutics
ADAP
| $4.04M | 0.13% |
20,529,685
+5,694,539
| +38% | +$2.95M |
2024 Q4
1 quarter
|
|
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Two Seas Capital's Q1 2025 Portfolio in Review
As of Q1 2025, Two Seas Capital held 38 positions worth $3.17B, up 174% from $1.16B the previous quarter. Its ten largest holdings account for 92% of the portfolio.
Two Seas Capital's Q1 2025 filing shows 7 new, 13 increased, 8 reduced and 8 closed positions. Its largest new stake was Golar LNG: 515,949 shares worth $19.6M. The largest sale was Vistra, an estimated $25M.
By sector, the portfolio is most concentrated in Miscellaneous at 80% of assets, up from 28% a quarter earlier, followed by Healthcare and Utilities.
- Two Seas Capital's largest Q1 2025 buy was Golar LNG: 515,949 shares worth $19.6M.
- Two Seas Capital added most to Core Scientific in Q1 2025, an estimated $20.1M increase.
- Two Seas Capital's biggest Q1 2025 reduction was Vistra, cutting an estimated $25M.
- Two Seas Capital fully exited Constellation Energy in Q1 2025, selling an estimated $22M.
- Two Seas Capital's ten largest holdings make up 92% of its $3.17B portfolio in Q1 2025.
- Two Seas Capital opened 7 new positions and closed 8 in Q1 2025.
- Two Seas Capital's portfolio value rose 174% quarter-over-quarter to $3.17B.
Based on Two Seas Capital's 13F filing for Q1 2025, filed 15 May 2025.