We are live on ! Find out more
TSC

Two Seas Capital Portfolio holdings

AUM $8.68B
1-Year Est. Return 78.08%
This Fund
S&P 500
This Quarter Est. Return
+40.35%
1 Year Est. Return
+78.08%
3 Year Est. Return
+344.2%
5 Year Est. Return
+575.95%
10 Year Est. Return
–
AUM
$5.05B
AUM Growth
-$2.11B
Cap. Flow
-$38.2M
Cap. Flow %
-0.76%
Top 10 Hldgs %
72.54%
Holding
57
New
10
Increased
16
Reduced
15
Closed
10
Avg Time Held Equity + Options
4.6 quarters
Top 10 Avg Time Held Equity + Options
5.8 quarters
Top 20 Avg Time Held Equity + Options
5.7 quarters
Avg Time Held Equity only
5.3 quarters
Top 10 Avg Time Held Equity only
6.3 quarters
Top 20 Avg Time Held Equity only
6.3 quarters

Top Buys

Rank Stock Value
1
NKTR icon
Nektar Therapeutics
NKTR
+$82.9M
2
SHAZ icon
SharonAI Holdings
SHAZ
+$49.5M
3
VST icon
Vistra
VST
+$38M
4
SOC icon
Sable Offshore Corp
SOC
+$36.7M
5
SPCX icon
SpaceX
SPCX
+$35.5M

Top Sells

Rank Stock Value
1
CORZ icon
Core Scientific
CORZ
+$168M
2
INDV icon
Indivior Pharmaceuticals
INDV
+$46M
3
FSLR icon
First Solar
FSLR
+$41M
4
WULF icon
TeraWulf
WULF
+$35.2M
5
ESPR icon
Esperion Therapeutics
ESPR
+$31.2M

Sector Composition

Rank Sector Weight
1 Miscellaneous 48.22%
2 Healthcare 22.06%
3 Technology 9.84%
4 Utilities 5.21%
5 Materials 4.82%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$822B
$1.94B 38.51%
2,603,500
-3,865,100
-60% -$2.8B
2024 Q4
6 quarters
ROIV icon
2
Roivant Sciences
ROIV
$25B
$300M 5.94%
8,475,356
-852,935
-9% -$25.2M
2021 Q4
18 quarters
CLMT icon
3
Calumet Specialty Products
CLMT
$5.03B
$238M 4.72%
6,619,708
+659,416
+11% +$22.2M
2024 Q3
7 quarters
CORZ icon
4
Core Scientific
CORZ
$4.83B
$231M 4.58%
9,028,509
-7,123,324
-44% -$168M
2024 Q1
9 quarters
NKTR icon
5
Nektar Therapeutics
NKTR
$1.36B
$216M 4.28%
3,092,234
+1,133,056
+58% +$82.9M
2025 Q4
2 quarters
TLN icon
6
Talen Energy Corp
TLN
$18B
$195M 3.86%
507,208
-71,921
-12% -$26.4M
2024 Q3
7 quarters
CORZ icon
7
CALL
Core Scientific
CORZ
$4.83B
$154M 3.04%
6,000,000
+3,466,000
+137% +$81.6M
2025 Q1
5 quarters
INDV icon
8
Indivior Pharmaceuticals
INDV
$4.26B
$143M 2.83%
3,479,493
-1,267,017
-27% -$46M
2023 Q2
12 quarters
IMVT icon
9
Immunovant
IMVT
$6.09B
$121M 2.4%
3,148,505
-53,457
-2% -$1.63M
2023 Q3
11 quarters
TDAY icon
10
USA Today Co
TDAY
$1.01B
$120M 2.38%
14,070,311
+24,868
+0.2% +$188K
2024 Q4
6 quarters
FSLR icon
11
CALL
First Solar
FSLR
$19.3B
$111M 2.2%
471,500
+12,800
+3% +$3M
2026 Q1
1 quarter
SHAZ icon
12
SharonAI Holdings
SHAZ
$1.28B
$110M 2.17%
1,293,753
+877,087
+211% +$49.5M
2026 Q1
1 quarter
SHC icon
13
Sotera Health
SHC
$5.18B
$104M 2.05%
5,836,053
-187,318
-3% -$2.95M
2024 Q1
9 quarters
ABUS icon
14
Arbutus Biopharma
ABUS
$822M
$91.7M 1.82%
19,095,583
+538,040
+3% +$2.36M
2021 Q4
18 quarters
VST icon
15
Vistra
VST
$53.1B
$68.3M 1.35%
430,621
+245,024
+132% +$38M
2024 Q1
9 quarters
FTAI icon
16
FTAI Aviation
FTAI
$17B
$67.4M 1.33%
248,962
-6,545
-3% -$1.65M
2025 Q1
5 quarters
QURE icon
17
uniQure
QURE
$1.51B
$66.4M 1.32%
1,441,410
+141,410
+11% +$3.7M
2026 Q1
1 quarter
WULF icon
18
TeraWulf
WULF
$6.67B
$61.6M 1.22%
2,493,139
-1,530,866
-38% -$35.2M
2025 Q1
5 quarters
GLNG icon
19
Golar LNG
GLNG
$4.93B
$60.9M 1.21%
1,221,779
-52,931
-4% -$2.8M
2025 Q1
5 quarters
ROIV icon
20
CALL
Roivant Sciences
ROIV
$25B
$52.5M 1.04%
1,482,600
+750,300
+102% +$22.2M
2025 Q3
3 quarters
ECHO icon
21
EchoStar
ECHO
$27.7B
$51.1M 1.01%
502,975
+120,840
+32% +$14.8M
2025 Q3
3 quarters
CIFR icon
22
Cipher Digital
CIFR
$5.4B
$50M 0.99%
2,040,000
-10,000
-0.5% -$211K
2025 Q2
4 quarters
WULF icon
23
CALL
TeraWulf
WULF
$6.67B
$42M 0.83%
+1,700,000
New +$39.1M
2026 Q2
0 quarters
SPCX icon
24
SpaceX
SPCX
$2.15T
$35.7M 0.71%
+208,890
New +$35.5M
2026 Q2
0 quarters
ABVX icon
25
CALL
Abivax
ABVX
$7.59B
$35.5M 0.7%
+266,400
New +$30.2M
2026 Q2
0 quarters
1
2 3

Similar funds

PGFC
Peapack-Gladstone Financial Corp Bedminster, New Jersey $8.7B AUM 29.75% 1-Year Est. Return
GA
Greenhaven Associates Purchase, New York $8.66B AUM 17.37% 1-Year Est. Return
AAF
Andra AP-fonden Goteborg, Sweden $8.7B AUM 37.59% 1-Year Est. Return
CB
Cooke & Bieler Philadelphia, Pennsylvania $8.65B AUM 9.66% 1-Year Est. Return
HKAM
Horizon Kinetics Asset Management New York $8.82B AUM 23.05% 1-Year Est. Return
SP
Sarasin & Partners London, United Kingdom $8.54B AUM 9.6% 1-Year Est. Return
MT
Midwest Trust Overland Park, Kansas $8.83B AUM 27.45% 1-Year Est. Return
ASN
Advisory Services Network Atlanta, Georgia $8.83B AUM 38.5% 1-Year Est. Return

Two Seas Capital's Q2 2026 Portfolio in Review

As of Q2 2026, Two Seas Capital held 57 positions worth $5.05B, down 29% from $7.15B the previous quarter. Its ten largest holdings account for 73% of the portfolio.

Two Seas Capital's Q2 2026 filing shows 10 new, 16 increased, 15 reduced and 10 closed positions. Its largest new stake was SpaceX: 208,890 shares worth $35.7M. The largest sale was Core Scientific, an estimated $168M.

By sector, the portfolio is most concentrated in Miscellaneous at 48% of assets, down from 70% a quarter earlier, followed by Healthcare and Technology.

  • Two Seas Capital's largest Q2 2026 buy was SpaceX: 208,890 shares worth $35.7M.
  • Two Seas Capital added most to Nektar Therapeutics in Q2 2026, an estimated $82.9M increase.
  • Two Seas Capital's biggest Q2 2026 reduction was Core Scientific, cutting an estimated $168M.
  • Two Seas Capital fully exited Esperion Therapeutics in Q2 2026, selling an estimated $31.2M.
  • Two Seas Capital's ten largest holdings make up 73% of its $5.05B portfolio in Q2 2026.
  • Two Seas Capital opened 10 new positions and closed 10 in Q2 2026.
  • Two Seas Capital's portfolio value fell 29% quarter-over-quarter to $5.05B.

Based on Two Seas Capital's 13F filing for Q2 2026, filed 12 Aug 2026.