Two Seas Capital LP

CIK: 0001823138SEC EDGAR →

Portfolio Value

$4.9B

Holdings

32

As of

Q4 2025

New Positions

3

Closed Positions

6

Portfolio Value History

Top 10 Holdings

RankStockSharesValue% of Portfolio
1
SPYPut

SPDR S&P 500 ETF TR

3,707,000$2.5B
52.08%
2
CORZPut

CORE SCIENTIFIC INC NEW

25,728,821$374.6M
7.72%
3
ROIVCall

ROIVANT SCIENCES LTD

12,227,391$265.3M
5.47%
4
IWMPut

ISHARES TR

1,050,000$258.5M
5.33%
5

INDIVIOR PLC

5,109,198$183.3M
3.78%
6
CLMTCall

CALUMET INC

8,098,229$160.9M
3.32%
7

TALEN ENERGY CORP

391,974$146.9M
3.03%
8
HUTCall

HUT 8 CORP

2,244,000$103.1M
2.12%
9

SOTERA HEALTH CO

4,412,106$77.8M
1.60%
10

USA TODAY CO INC

14,552,621$74.9M
1.54%

Quarterly Changes

Top Buys

CORZNEW
$374.6M
HUTNEW
$103.1M
IBITNEW
$60.5M
CLMT↑ Increased
$37.7M
TLN↑ Increased
$33.4M

Top Sells

SPY↓ Decreased
$1.3B
CORZCLOSED
$336.6M
CRWVCLOSED
$199.7M
IWM↓ Decreased
$92.4M
AVDLCLOSED
$82.0M

New Positions (6)

$374.6M · 25.7M shares
$103.1M · 2.2M shares
$60.5M · 1.2M shares
$31.5M · 745K shares
$15.6M · 1.7M shares
$7.9M · 110K shares

Closed Positions (9)

$336.6M · 18.8M shares
$199.7M · 1.5M shares
$82.0M · 5.4M shares
$36.9M · 2.1M shares
$28.8M · 1.9M shares
$19.2M · 1.6M shares
$7.7M · 450K shares
$2.4M · 26K shares
$1.2M · 35K shares

Sector Breakdown

Sector# HoldingsValue%
Financial Services7$3.0B62.6%
Healthcare6$494.9M10.2%
Technology6$434.7M9.0%
Energy4$294.4M6.1%
Unknown2$243.9M5.0%
Utilities2$187.2M3.9%
Communication Services3$113.2M2.3%
Industrials2$46.8M1.0%