Two Seas Capital LP
13F Reported Value
ⓘ$7.2B
incl. option notional
Equity Holdings
ⓘ$2.2B
Option Notional
ⓘ$5.0B
$4.8B puts / $214.0M calls
Holdings
47
Latest Filing
2026-03-31
Filing Quarter
Q1 2026
Portfolio Overview
Two Seas Capital LP disclosed 47 positions worth $7.2B in its Form 13F-HR for Q1 2026 — $2.2B in common stock plus $5.0B of put/call option positions (reported at underlying notional value, not premium at risk), led by $SPY (SPDR S&P 500 ETF TRUST) puts, followed by $ROIV. During the quarter the fund opened 14 new positions and exited 5. The portfolio is most concentrated in Healthcare (40.3% of disclosed assets). All figures are sourced directly from Two Seas Capital LP’s Form 13F-HR filing with the SEC under CIK 1823138.
AI Fund Analysis
DiversifyingSector Allocation
AUM History
Top Equity Holdings by Value
Option Positions
13F rules report options at the value of the underlying shares (notional) — not the premium paid or capital at risk. Shown separately from the equity sleeve above.
Quarterly Activity — Q1 2026
Click any card to unlockTop Holdings
- —
Quality
$4.2B6,468,600 sh - —
Quality
$258.4M9,328,291 sh SPDR SERIES TRUST PUT
—Quality
$246.3M1,928,000 sh- 14.0
Quality
$241.6M16,151,833 sh - 76.1
Quality
$215.7M850,000 sh - 34.7
Quality
$214.0M5,960,292 sh - 66.5
Quality
$184.9M579,129 sh - 64.6
Quality
$144.7M4,746,510 sh - 10.2
Quality
$141.0M1,959,178 sh - 48.4
Quality
$99.0M14,045,443 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
 SPDR S&P 500 ETF TRUST$SPYPUT | — | $4.2B | 6,468,600 |
 Roivant Sciences Ltd.$ROIV | — | $258.4M | 9,328,291 |
| SPDR SERIES TRUST PUT | — | $246.3M | 1,928,000 |
 Core Scientific, Inc./tx$CORZ | 14.0 | $241.6M | 16,151,833 |
 Apple Inc.$AAPLPUT | 76.1 | $215.7M | 850,000 |
 Calumet, Inc. /DE$CLMT | 34.7 | $214.0M | 5,960,292 |
 Talen Energy Corp$TLN | 66.5 | $184.9M | 579,129 |
 Indivior Pharmaceuticals, Inc.$INDV | 64.6 | $144.7M | 4,746,510 |
 NEKTAR THERAPEUTICS$NKTR | 10.2 | $141.0M | 1,959,178 |
 USA TODAY Co., Inc.$TDAY | 48.4 | $99.0M | 14,045,443 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of Two Seas Capital LP's 47 positions.
Showing top 10 of 47 holdings.
Sector Allocation
Healthcare
$873.5M
Financials
$359.9M
Energy
$304.8M
Utilities
$233.7M
Communication Services
$143.8M
Industrials
$136.2M
Technology
$101.9M
Other
$11.7M
Full Holdings — Two Seas Capital LP (Q1 2026)
All 47 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.
| # | Ticker | Company | Value | Weight | QoQ | Quality |
|---|---|---|---|---|---|---|
| 1 | $SPYPUT | SPDR S&P 500 ETF TRUST | $4.2B | — | +74% | — |
| 2 | $ROIV | Roivant Sciences Ltd. | $258.4M | 11.9% | -5% | — |
| 3 | — | SPDR SERIES TRUST | $246.3M | — | NEW | — |
| 4 | $CORZ | Core Scientific, Inc./tx | $241.6M | 11.2% | -5% | 14 |
| 5 | $AAPLPUT | Apple Inc. | $215.7M | — | NEW | 76.1 |
| 6 | $CLMT | Calumet, Inc. /DE | $214.0M | 9.9% | -15% | 34.7 |
| 7 | $TLN | Talen Energy Corp | $184.9M | 8.5% | +48% | 66.5 |
| 8 | $INDV | Indivior Pharmaceuticals, Inc. | $144.7M | 6.7% | -7% | 64.6 |
| 9 | $NKTR | NEKTAR THERAPEUTICS | $141.0M | 6.5% | +163% | 10.2 |
| 10 | $TDAY | USA TODAY Co., Inc. | $99.0M | 4.6% | -3% | 48.4 |
| 11 |  $SOC | Sable Offshore Corp. | $90.8M | 4.2% | +217% | — |
| 12 |  $FSLRCALL | FIRST SOLAR, INC. | $90.5M | — | NEW | 73.8 |
| 13 |  $SHC | Sotera Health Co | $86.4M | 4.0% | +37% | 59.7 |
| 14 |  $ABUS | Arbutus Biopharma Corp | $83.5M | 3.9% | +47% | — |
| 15 |  $IMVT | Immunovant, Inc. | $79.5M | 3.7% | +12% | — |
| 16 |  $GLNG | GOLAR LNG LTD | $69.0M | 3.2% | +9% | — |
| 17 |  $FTAI | FTAI Aviation Ltd. | $62.6M | 2.9% | +37% | — |
| 18 | $FSLR | FIRST SOLAR, INC. | $59.8M | 2.8% | +7% | 73.8 |
| 19 |  $WULF | TERAWULF INC. | $58.1M | 2.7% | -11% | 25.2 |
| 20 |  $MRNAPUT | Moderna, Inc. | $55.9M | — | NEW | 15.9 |
| 21 |  $ECHO | EchoStar CORP | $44.7M | 2.1% | -5% | 29.5 |
| 22 | $ECHOCALL | EchoStar CORP | $43.9M | — | NEW | 29.5 |
| 23 | $CORZCALL | Core Scientific, Inc./tx | $37.9M | — | -70% | 14 |
| 24 |  $ESPR | Esperion Therapeutics, Inc. | $31.2M | 1.4% | -4% | 34.3 |
| 25 | $CORZPUT | Core Scientific, Inc./tx | $29.9M | — | +733% | 14 |
| 26 |  $VST | Vistra Corp. | $27.9M | 1.3% | -26% | 62.9 |
| 27 |  $CIFR | Cipher Digital Inc. | $26.4M | 1.2% | +570% | 30.1 |
| 28 |  $QURE | uniQure N.V. | $21.3M | 1.0% | NEW | — |
| 29 |  $TAC | TRANSALTA CORP | $20.9M | 1.0% | NEW | — |
| 30 |  $NBIS | Nebius Group N.V. | $20.4M | 0.9% | -43% | — |
| 31 | $ROIVCALL | Roivant Sciences Ltd. | $20.3M | — | -70% | — |
| 32 |  $STAA | STAAR SURGICAL CO | $19.4M | 0.9% | NEW | 18 |
| 33 |  $BTDR | Bitdeer Technologies Group | $19.2M | 0.9% | NEW | — |
| 34 |  $IBITPUT | iShares Bitcoin Trust ETF | $19.2M | — | -59% | — |
| 35 | $GLNGCALL | GOLAR LNG LTD | $13.5M | — | NEW | — |
| 36 |  $SONO | Sonos Inc | $12.3M | 0.6% | +185% | 34.8 |
| 37 |  $HUT | Hut 8 Corp. | $11.7M | 0.5% | -49% | 31.4 |
| 38 | — | ADVISORSHARES TR | $11.7M | 0.5% | +2% | — |
| 39 |  $SHAZ | SharonAI Holdings Inc. | $9.5M | 0.4% | NEW | — |
| 40 | — | ADVISORSHARES TR | $7.9M | — | -38% | — |
| 41 |  $PAVM | PAVmed Inc. | $4.7M | 0.2% | NEW | — |
| 42 |  $OMEX | ODYSSEY MARINE EXPLORATION INC | $4.7M | 0.2% | +8% | — |
| 43 |  $LUCD | Lucid Diagnostics Inc. | $3.5M | 0.2% | +0% | — |
| 44 | $CORZ | Core Scientific, Inc./tx | $2.5M | 0.1% | +0% | 14 |
| 45 |  $DAR | DARLING INGREDIENTS INC. | $1.0M | 0.1% | NEW | 46.6 |
| 46 | $CORZ | Core Scientific, Inc./tx | $361,605 | 0.0% | +0% | 14 |
| 47 |  $FRMI | Fermi Inc. | $147,232 | 0.0% | NEW | — |
New Positions (14)
$AAPLPUT Apple Inc.$215.7M$FSLRCALL FIRST SOLAR, INC.$90.5M$MRNAPUT Moderna, Inc.$55.9M$ECHOCALL EchoStar CORP$43.9M$QURE uniQure N.V.$21.3M$TAC TRANSALTA CORP$20.9M$STAA STAAR SURGICAL CO$19.4M$BTDR Bitdeer Technologies Group$19.2M$GLNGCALL GOLAR LNG LTD$13.5M$SHAZ SharonAI Holdings Inc.$9.5M$PAVM PAVmed Inc.$4.7M$DAR DARLING INGREDIENTS INC.$1.0M$FRMI Fermi Inc.$147,232
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