Filed: 5/15/2025ACC: 0001315863-25-000402
📋 What this filing means
TWO SEAS CAPITAL LP filed this quarterly 13F‑HR report disclosing 26 equity positions with a total reported market value of $3.17B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
26
Positions
$3.17B
Total AUM (reported)
105.58M
Total Shares
Allocation by class
TR UNIT$1.14B35.9%
UNIT SER 1$715.10M22.5%
IBOXX HI YD ETF$577.91M18.2%
COM$449.58M14.2%
SHS$134.72M4.2%
ORD$106.51M3.4%
COM SHS$38.73M1.2%
Portfolio Concentration
Top 3$2.43B76.6%
4–10$554.46M17.5%
11–25$187.62M5.9%
Rest$585.2K0.0%
Top 3 weight
76.6%
Top 10 weight
94.1%
Voting Authority Distribution
Total shares with voting rights: 105.58M
Sole
Full voting authority
105.58M
shares
% of voting shares100.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole26
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings26
Rows:
SPDR S&P 500 ETF TR
SOLEShares2.04M
TypeSH
Market value$1.14B
35.86%
Sole
2.04M
Shared
0.00
None
0.00
INVESCO QQQ TR
SOLEShares1.52M
TypeSH
Market value$715.10M
22.53%
Sole
1.52M
Shared
0.00
None
0.00
ISHARES TR
SOLEShares7.33M
TypeSH
Market value$577.91M
18.21%
Sole
7.33M
Shared
0.00
None
0.00
TALEN ENERGY CORP
SOLEShares722.27K
TypeSH
Market value$144.22M
4.54%
Sole
722.27K
Shared
0.00
None
0.00
INDIVIOR PLC
SOLEShares11.37M
TypeSH
Market value$106.51M
3.36%
Sole
11.37M
Shared
0.00
None
0.00
ROIVANT SCIENCES LTD
SOLEShares10.14M
TypeSH
Market value$102.28M
3.22%
Sole
10.14M
Shared
0.00
None
0.00
CORE SCIENTIFIC INC NEW
SOLEShares8.83M
TypeSH
Market value$63.94M
2.01%
Sole
8.83M
Shared
0.00
None
0.00
VISTRA CORP
SOLEShares511.44K
TypeSH
Market value$60.06M
1.89%
Sole
511.44K
Shared
0.00
None
0.00
AVADEL PHARMACEUTICALS PLC
SOLEShares4.95M
TypeSH
Market value$38.73M
1.22%
Sole
4.95M
Shared
0.00
None
0.00
SOTERA HEALTH CO
SOLEShares3.32M
TypeSH
Market value$38.72M
1.22%
Sole
3.32M
Shared
0.00
None
0.00
CALUMET INC
SOLEShares2.87M
TypeSH
Market value$36.35M
1.15%
Sole
2.87M
Shared
0.00
None
0.00
ARBUTUS BIOPHARMA CORP
SOLEShares9.47M
TypeSH
Market value$33.04M
1.04%
Sole
9.47M
Shared
0.00
None
0.00
IMMUNOVANT INC
SOLEShares1.64M
TypeSH
Market value$28.07M
0.88%
Sole
1.64M
Shared
0.00
None
0.00
GOLAR LNG LTD
SOLEShares515.95K
TypeSH
Market value$19.60M
0.62%
Sole
515.95K
Shared
0.00
None
0.00
GANNETT CO INC
SOLEShares6.25M
TypeSH
Market value$18.07M
0.57%
Sole
6.25M
Shared
0.00
None
0.00
FTAI AVIATION LTD
SOLEShares115.66K
TypeSH
Market value$12.84M
0.40%
Sole
115.66K
Shared
0.00
None
0.00
ARDELYX INC
SOLEShares2.12M
TypeSH
Market value$10.41M
0.33%
Sole
2.12M
Shared
0.00
None
0.00
ESPERION THERAPEUTICS INC NE
SOLEShares6.93M
TypeSH
Market value$9.98M
0.31%
Sole
6.93M
Shared
0.00
None
0.00
SONOS INC
SOLEShares431.04K
TypeSH
Market value$4.60M
0.14%
Sole
431.04K
Shared
0.00
None
0.00
IREN LIMITED
SOLEShares665K
TypeSH
Market value$4.05M
0.13%
Sole
665K
Shared
0.00
None
0.00
ADAPTIMMUNE THERAPEUTICS PLC
SOLEShares20.53M
TypeSH
Market value$4.04M
0.13%
Sole
20.53M
Shared
0.00
None
0.00
NEBIUS GROUP N.V.
SOLEShares150K
TypeSH
Market value$3.17M
0.10%
Sole
150K
Shared
0.00
None
0.00
HUT 8 CORP
SOLEShares131.81K
TypeSH
Market value$1.53M
0.05%
Sole
131.81K
Shared
0.00
None
0.00
ODYSSEY MARINE EXPL INC
SOLEShares2.55M
TypeSH
Market value$1.02M
0.03%
Sole
2.55M
Shared
0.00
None
0.00
CORE SCIENTIFIC INC NEW
SOLEShares280.25K
TypeSH
Market value$849.2K
0.03%
Sole
280.25K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
SPDR S&P 500 ETF TRSOLE | TR UNIT | 2.04M | SH | $1.14B 35.86% | 2.04M | 0.00 | 0.00 |
INVESCO QQQ TRSOLE | UNIT SER 1 | 1.52M | SH | $715.10M 22.53% | 1.52M | 0.00 | 0.00 |
ISHARES TRSOLE | IBOXX HI YD ETF | 7.33M | SH | $577.91M 18.21% | 7.33M | 0.00 | 0.00 |
TALEN ENERGY CORPSOLE | COM | 722.27K | SH | $144.22M 4.54% | 722.27K | 0.00 | 0.00 |
INDIVIOR PLCSOLE | ORD | 11.37M | SH | $106.51M 3.36% | 11.37M | 0.00 | 0.00 |
ROIVANT SCIENCES LTDSOLE | SHS | 10.14M | SH | $102.28M 3.22% | 10.14M | 0.00 | 0.00 |
CORE SCIENTIFIC INC NEWSOLE | COM | 8.83M | SH | $63.94M 2.01% | 8.83M | 0.00 | 0.00 |
VISTRA CORPSOLE | COM | 511.44K | SH | $60.06M 1.89% | 511.44K | 0.00 | 0.00 |
AVADEL PHARMACEUTICALS PLCSOLE | COM SHS | 4.95M | SH | $38.73M 1.22% | 4.95M | 0.00 | 0.00 |
SOTERA HEALTH COSOLE | COM | 3.32M | SH | $38.72M 1.22% | 3.32M | 0.00 | 0.00 |
CALUMET INCSOLE | COM | 2.87M | SH | $36.35M 1.15% | 2.87M | 0.00 | 0.00 |
ARBUTUS BIOPHARMA CORPSOLE | COM | 9.47M | SH | $33.04M 1.04% | 9.47M | 0.00 | 0.00 |
IMMUNOVANT INCSOLE | COM | 1.64M | SH | $28.07M 0.88% | 1.64M | 0.00 | 0.00 |
GOLAR LNG LTDSOLE | SHS | 515.95K | SH | $19.60M 0.62% | 515.95K | 0.00 | 0.00 |
GANNETT CO INCSOLE | COM | 6.25M | SH | $18.07M 0.57% | 6.25M | 0.00 | 0.00 |
FTAI AVIATION LTDSOLE | SHS | 115.66K | SH | $12.84M 0.40% | 115.66K | 0.00 | 0.00 |
ARDELYX INCSOLE | COM | 2.12M | SH | $10.41M 0.33% | 2.12M | 0.00 | 0.00 |
ESPERION THERAPEUTICS INC NESOLE | COM | 6.93M | SH | $9.98M 0.31% | 6.93M | 0.00 | 0.00 |
SONOS INCSOLE | COM | 431.04K | SH | $4.60M 0.14% | 431.04K | 0.00 | 0.00 |
IREN LIMITEDSOLE | ORDINARY SHARES | 665K | SH | $4.05M 0.13% | 665K | 0.00 | 0.00 |
ADAPTIMMUNE THERAPEUTICS PLCSOLE | SPONDS ADR | 20.53M | SH | $4.04M 0.13% | 20.53M | 0.00 | 0.00 |
NEBIUS GROUP N.V.SOLE | SHS CLASS A | 150K | SH | $3.17M 0.10% | 150K | 0.00 | 0.00 |
HUT 8 CORPSOLE | COM | 131.81K | SH | $1.53M 0.05% | 131.81K | 0.00 | 0.00 |
ODYSSEY MARINE EXPL INCSOLE | COM NEW | 2.55M | SH | $1.02M 0.03% | 2.55M | 0.00 | 0.00 |
CORE SCIENTIFIC INC NEWSOLE | *W EXP 01/23/202 | 280.25K | SH | $849.2K 0.03% | 280.25K | 0.00 | 0.00 |
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