13F Pro13F Pro

Two Seas Capital LP

Institutional InvestorSimilar funds →SEC EDGAR: CIK 1823138
Institutional-grade research for retail investors

Sector Allocation

  • Healthcare41.6%$1.0B
  • Energy15.6%$391.8M
  • Financials13.3%$334.6M
  • Technology10.1%$252.5M
  • Utilities8.8%$219.9M
  • Communication Services5.6%$139.9M
  • Industrials5.0%$125.9M
  • Real Estate0.1%$1.5M

AUM History

13fpro.ai/research/fund/two-seas-capital-lp-1823138

Conviction and streaks

Stable · top 10 = 67.5%

From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.

CLMT$CLMTConviction hold11.0% weight · held 9 quartersROIV$ROIVConviction hold10.7% weight · held 11 quartersNKTR$NKTRConviction hold8.1% weight · held 4 quartersCORZ$CORZConviction hold7.3% weight · held 11 quartersTLN$TLNConviction hold6.7% weight · held 10 quartersSOC$SOCAccumulating+5294% shares · 6 quarters runningNKTR$NKTRAccumulating+349% shares · 3 quarters runningSHAZ$SHAZAccumulating+367% shares · 2 quarters runningTDAY$TDAYAccumulating+3% shares · 2 quarters runningECHO$ECHOAccumulating+43% shares · 2 quarters runningROIV$ROIVTrimming-38% shares · 4 quarters runningGLNG$GLNGTrimming-6% shares · 2 quarters runningAPLD$APLDTrimming-96% shares · 2 quarters running

Largest positions — Q3 2026

Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.

13fpro.ai/research/fund/two-seas-capital-lp-1823138

Two Seas Capital LP 13F holdings — Q3 2026

$8.7B portfolio (+71.9% QoQ) · 47 holdings · Q3 2026 13F · top 10 are 68% of the stock portfolio

Includes $6.2B of put/call options ($5.8B puts, $355.1M calls), which 13F rules report at the value of the underlying shares, not the premium at risk. Stocks alone: $2.5B. Weights use the stock portfolio.

All holdings — Two Seas Capital LP (Q3 2026)

47 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.

Company
QQQ$QQQPUTINVESCO QQQ TRUST, SERIES 1$4.0BNew
SPY$SPYPUTSPDR S&P 500 ETF TRUST$1.1B-43%
— PUTISHARES TR - RUSSELL 2000 ETF$688.5MNew
ROIV$ROIVCALLRoivant Sciences Ltd.$82.1M+51%
WULF$WULFCALLTERAWULF INC.$78.1M+210%
CIFR$CIFRCipher Digital Inc.$68.9M+113%
ABVX$ABVXAbivax S.A.adr$67.0M+177%
FSLR$FSLRFIRST SOLAR, INC.$66.2M+195%
SOC$SOCSable Offshore Corp.$59.2M+104%
GLNG$GLNGGOLAR LNG LTD$57.1M-2%
SEI$SEISolaris Energy Infrastructure, Inc.$56.0MNew
VST$VSTVistra Corp.$52.4M-12%
WULF$WULFTERAWULF INC.$50.1M+36%
ECHO$ECHOEchoStar CORP$48.7M+8%
QMCO$QMCOQUANTUM CORP /DE/$47.3M-40%

What changed in Q3 2026

Against the previous quarter's 13F: 8 new, 21 added to, 9 trimmed, 8 sold out. Share-count changes; largest moves by dollar size first.

New positions (8)

  • QQQ$QQQPUTINVESCO QQQ TRUST, SERIES 1$4.0B

    first bought this quarter

  • PUTISHARES TR - RUSSELL 2000 ETF$688.5M

    first bought this quarter

  • SEI$SEISolaris Energy Infrastructure, Inc.$56.0M

    first bought this quarter

  • TLN$TLNCALLTalen Energy Corp$46.9M

    first bought this quarter

  • SHAZ$SHAZCALLSharonAI Holdings Inc.$32.3M

    first bought this quarter

  • SOC$SOCCALLSable Offshore Corp.$6.2M

    first bought this quarter

+2 more in the Excel export

Added to (21)

  • WULF$WULFCALLTERAWULF INC.+210%

    now $78.1M

  • IMVT$IMVTImmunovant, Inc.+47%

    now $155.8M · held 7+ qtrs

  • FSLR$FSLRFIRST SOLAR, INC.+195%

    now $66.2M · held 6 qtrs

  • ABVX$ABVXAbivax S.A.+177%

    now $67.0M · held 2 qtrs, 2 adds in a row

  • CORZ$CORZCore Scientific, Inc./tx+27%

    now $182.6M · held 7+ qtrs

  • CIFR$CIFRCipher Digital Inc.+113%

    now $68.9M · held 6 qtrs

+15 more in the Excel export

Trimmed (9)

  • SPY$SPYPUTSPDR S&P 500 ETF TRUST-43%

    now $1.1B

  • CLMT$CLMTCalumet, Inc. /DE-20%

    now $276.6M · held 7+ qtrs

  • ABUS$ABUSArbutus Biopharma Corp-57%

    now $38.9M · held 7+ qtrs

  • CORZ$CORZCALLCore Scientific, Inc./tx-54%

    now $43.9M

  • ROIV$ROIVRoivant Sciences Ltd.-14%

    now $267.9M · held 7+ qtrs, 4 trims in a row

  • QMCO$QMCOQUANTUM CORP /DE/-40%

    now $47.3M · held 2 qtrs

+3 more in the Excel export

Sold out (8)

  • FSLR$FSLRCALLFIRST SOLAR, INC.was $111.3M
  • ABVX$ABVXCALLAbivax S.A.was $35.5M
  • BTDR$BTDRCALLBitdeer Technologies Groupwas $30.4M
  • DAR$DARDARLING INGREDIENTS INC.was $28.2M

    held 2 qtrs

  • BTDR$BTDRBitdeer Technologies Groupwas $23.8M

    held 2 qtrs

  • CRWV$CRWVCoreWeave, Inc.was $15.2M

    held 1 qtr

+2 more in the Excel export

Firm AUM (Form ADV): $2.8B as of 2025-12-31 · SEC IAPD

Share

Holdings by quarter

Every 13F Two Seas Capital LP has filed, 19 earlier quarters. Pick one to see what it held then.

Email me the moment this fund files its next 13FPro

Is it too late to follow Two Seas Capital?

Q3 2026 13F filed with the SEC on Oct 6, 2026. Prices are closing prices as of Oct 26, 2026.

Average quality of Two Seas Capital's top 20 holdings: 40/100 (our AI quality score, weighted by position size; 15 of the 20 are scored)

Top 10 since filing

-9.7%

Value-weighted move of the 10 largest stock positions

Turnover

11%

Last quarter; 51% over the last 4

Top 10 weight

68%

Share of the stock portfolio in its 10 largest positions

Held 4+ quarters

84%

Share of portfolio value in positions held a year or more

Highest-quality names it owns(among its 100 largest positions)

The 8 highest-scoring companies in this portfolio are a Pro feature.

How these are measured
  • Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
  • Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
  • Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q1 2025 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
  • Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
  • Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.

Portfolio Overview

Two Seas Capital LP disclosed 47 positions worth $8.7B in its Form 13F-HR for Q3 2026 — $2.5B in common stock plus $6.2B of put/call option positions (reported at underlying notional value, not premium at risk), led by $CLMT (Calumet, Inc. /DE) at 11.0% of the equity portfolio, followed by $ROIV and $NKTR. During the quarter the fund opened 8 new positions and exited 8 — including a new stake in $QQQ and a full exit from $FSLR. The portfolio is most concentrated in Healthcare (41.6% of disclosed assets). All figures are sourced directly from Two Seas Capital LP’s Form 13F-HR filing with the SEC under CIK 1823138.

Funds like this

managers whose biggest positions overlap Two Seas Capital's
Rubric Capital Management LP$10.90B 13F book · 5 shared top holdingsTLNGLNGVSTFTAIClearline Capital LP$1.68B 13F book · 9 shared top holdingsCORZTLNVSTFTAIOAKTREE CAPITAL MANAGEMENT LP$7.21B 13F book · 4 shared top holdingsCORZINDVTLNECHOSachem Head Capital Management LP$4.82B 13F book · 4 shared top holdingsTLNSHCGLNGBTDRSCOGGIN MANAGEMENT LP$934.78M 13F book · 7 shared top holdingsCORZWULFSHAZECHOADAR1 Capital Management, LLC$2.19B 13F book · 5 shared top holdingsROIVIMVTABVXNKTR

Browse Top Institutional Investors

13F Pro tracks 8,700+ institutional investors filing 13F reports with the SEC.

Berkshire HathawayBridgewater AssociatesCitadel AdvisorsRenaissance TechnologiesTwo Sigma InvestmentsDE Shaw & CoMillennium ManagementAQR Capital ManagementPoint72 Asset ManagementTiger Global ManagementVanguard GroupBlackRock

to search all 8,700+ institutional filers.

AI-Powered Hedge Fund Analysis: Two Seas Capital LP

13F Pro is an AI hedge fund tracker and stock research platform. For Two Seas Capital LP (SEC CIK: 1823138), the platform ingests every quarterly Form 13F filing and applies AI-powered analysis on top — 10 specialized AI analysts (value, growth, momentum, macro, activist, and more) debate the fund's top positions and publish AI-generated analysis with cited SEC sources.

Every holding in Two Seas Capital LP's portfolio is scored on an AI quality ranking built from its SEC filings (ROIC, FCF margin, revenue growth, institutional flow, earnings quality, shareholder dilution, and more). Track accumulation and distribution quarter over quarter, identify conviction positions, and see AI stock analysis for each position — alongside 8,700+ other institutional filers and 2,800+ AI-ranked companies.