Filed: 2/11/2026ACC: 0001315863-26-000142
📋 What this filing means
TWO SEAS CAPITAL LP filed this quarterly 13F‑HR report disclosing 32 equity positions with a total reported market value of $4.85B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
32
Positions
$4.85B
Total AUM (reported)
131.80M
Total Shares
Allocation by class
TR UNIT$2.53B52.1%
COM$1.30B26.7%
SHS$345.56M7.1%
RUSSELL 2000 ETF$258.47M5.3%
ORD$183.32M3.8%
SHS BEN INT$60.47M1.2%
CL A$53.13M1.1%
Portfolio Concentration
Top 3$3.17B65.3%
4–10$1.01B20.7%
11–25$646.53M13.3%
Rest$33.54M0.7%
Top 3 weight
65.3%
Top 10 weight
86.0%
Voting Authority Distribution
Total shares with voting rights: 131.80M
Sole
Full voting authority
131.80M
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)
Sole32
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings32
Rows:
SPDR S&P 500 ETF TR
SOLEShares3.71M
TypeSH
Market value$2.53B
52.08%
Sole
3.71M
Shared
0.00
None
0.00
CORE SCIENTIFIC INC NEW
SOLEShares25.73M
TypeSH
Market value$374.61M
7.72%
Sole
25.73M
Shared
0.00
None
0.00
ROIVANT SCIENCES LTD
SOLEShares12.23M
TypeSH
Market value$265.33M
5.47%
Sole
12.23M
Shared
0.00
None
0.00
ISHARES TR
SOLEShares1.05M
TypeSH
Market value$258.47M
5.33%
Sole
1.05M
Shared
0.00
None
0.00
INDIVIOR PLC
SOLEShares5.11M
TypeSH
Market value$183.32M
3.78%
Sole
5.11M
Shared
0.00
None
0.00
CALUMET INC
SOLEShares8.10M
TypeSH
Market value$160.91M
3.32%
Sole
8.10M
Shared
0.00
None
0.00
TALEN ENERGY CORP
SOLEShares391.97K
TypeSH
Market value$146.93M
3.03%
Sole
391.97K
Shared
0.00
None
0.00
HUT 8 CORP
SOLEShares2.24M
TypeSH
Market value$103.09M
2.12%
Sole
2.24M
Shared
0.00
None
0.00
SOTERA HEALTH CO
SOLEShares4.41M
TypeSH
Market value$77.83M
1.60%
Sole
4.41M
Shared
0.00
None
0.00
USA TODAY CO INC
SOLEShares14.55M
TypeSH
Market value$74.95M
1.54%
Sole
14.55M
Shared
0.00
None
0.00
FIRST SOLAR INC
SOLEShares284.26K
TypeSH
Market value$74.26M
1.53%
Sole
284.26K
Shared
0.00
None
0.00
IMMUNOVANT INC
SOLEShares2.87M
TypeSH
Market value$72.88M
1.50%
Sole
2.87M
Shared
0.00
None
0.00
ARBUTUS BIOPHARMA CORP
SOLEShares12.59M
TypeSH
Market value$60.55M
1.25%
Sole
12.59M
Shared
0.00
None
0.00
ISHARES BITCOIN TRUST ETF
SOLEShares1.22M
TypeSH
Market value$60.47M
1.25%
Sole
1.22M
Shared
0.00
None
0.00
TERAWULF INC
SOLEShares4.50M
TypeSH
Market value$51.74M
1.07%
Sole
4.50M
Shared
0.00
None
0.00
ESPERION THERAPEUTICS INC NE
SOLEShares11.90M
TypeSH
Market value$44.04M
0.91%
Sole
11.90M
Shared
0.00
None
0.00
ECHOSTAR CORP
SOLEShares402.13K
TypeSH
Market value$43.71M
0.90%
Sole
402.13K
Shared
0.00
None
0.00
GOLAR LNG LTD
SOLEShares1.17M
TypeSH
Market value$43.57M
0.90%
Sole
1.17M
Shared
0.00
None
0.00
VISTRA CORP
SOLEShares249.71K
TypeSH
Market value$40.29M
0.83%
Sole
249.71K
Shared
0.00
None
0.00
FTAI AVIATION LTD
SOLEShares186.21K
TypeSH
Market value$36.66M
0.76%
Sole
186.21K
Shared
0.00
None
0.00
ADVISORSHARES TR
SOLEShares6.83M
TypeSH
Market value$32.23M
0.66%
Sole
6.83M
Shared
0.00
None
0.00
NEKTAR THERAPEUTICS
SOLEShares745.18K
TypeSH
Market value$31.51M
0.65%
Sole
745.18K
Shared
0.00
None
0.00
NEBIUS GROUP N.V.
SOLEShares344.48K
TypeSH
Market value$28.83M
0.59%
Sole
344.48K
Shared
0.00
None
0.00
SABLE OFFSHORE CORP
SOLEShares1.73M
TypeSH
Market value$15.63M
0.32%
Sole
1.73M
Shared
0.00
None
0.00
ODYSSEY MARINE EXPL INC
SOLEShares5.19M
TypeSH
Market value$10.16M
0.21%
Sole
5.19M
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
SPDR S&P 500 ETF TRSOLE | TR UNIT | 3.71M | SH | $2.53B 52.08% | 3.71M | 0.00 | 0.00 |
CORE SCIENTIFIC INC NEWSOLE | COM | 25.73M | SH | $374.61M 7.72% | 25.73M | 0.00 | 0.00 |
ROIVANT SCIENCES LTDSOLE | SHS | 12.23M | SH | $265.33M 5.47% | 12.23M | 0.00 | 0.00 |
ISHARES TRSOLE | RUSSELL 2000 ETF | 1.05M | SH | $258.47M 5.33% | 1.05M | 0.00 | 0.00 |
INDIVIOR PLCSOLE | ORD | 5.11M | SH | $183.32M 3.78% | 5.11M | 0.00 | 0.00 |
CALUMET INCSOLE | COM | 8.10M | SH | $160.91M 3.32% | 8.10M | 0.00 | 0.00 |
TALEN ENERGY CORPSOLE | COM | 391.97K | SH | $146.93M 3.03% | 391.97K | 0.00 | 0.00 |
HUT 8 CORPSOLE | COM | 2.24M | SH | $103.09M 2.12% | 2.24M | 0.00 | 0.00 |
SOTERA HEALTH COSOLE | COM | 4.41M | SH | $77.83M 1.60% | 4.41M | 0.00 | 0.00 |
USA TODAY CO INCSOLE | COM | 14.55M | SH | $74.95M 1.54% | 14.55M | 0.00 | 0.00 |
FIRST SOLAR INCSOLE | COM | 284.26K | SH | $74.26M 1.53% | 284.26K | 0.00 | 0.00 |
IMMUNOVANT INCSOLE | COM | 2.87M | SH | $72.88M 1.50% | 2.87M | 0.00 | 0.00 |
ARBUTUS BIOPHARMA CORPSOLE | COM | 12.59M | SH | $60.55M 1.25% | 12.59M | 0.00 | 0.00 |
ISHARES BITCOIN TRUST ETFSOLE | SHS BEN INT | 1.22M | SH | $60.47M 1.25% | 1.22M | 0.00 | 0.00 |
TERAWULF INCSOLE | COM | 4.50M | SH | $51.74M 1.07% | 4.50M | 0.00 | 0.00 |
ESPERION THERAPEUTICS INC NESOLE | COM | 11.90M | SH | $44.04M 0.91% | 11.90M | 0.00 | 0.00 |
ECHOSTAR CORPSOLE | CL A | 402.13K | SH | $43.71M 0.90% | 402.13K | 0.00 | 0.00 |
GOLAR LNG LTDSOLE | SHS | 1.17M | SH | $43.57M 0.90% | 1.17M | 0.00 | 0.00 |
VISTRA CORPSOLE | COM | 249.71K | SH | $40.29M 0.83% | 249.71K | 0.00 | 0.00 |
FTAI AVIATION LTDSOLE | SHS | 186.21K | SH | $36.66M 0.76% | 186.21K | 0.00 | 0.00 |
ADVISORSHARES TRSOLE | PURE US CANNABIS | 6.83M | SH | $32.23M 0.66% | 6.83M | 0.00 | 0.00 |
NEKTAR THERAPEUTICSSOLE | COM NEW | 745.18K | SH | $31.51M 0.65% | 745.18K | 0.00 | 0.00 |
NEBIUS GROUP N.V.SOLE | SHS CLASS A | 344.48K | SH | $28.83M 0.59% | 344.48K | 0.00 | 0.00 |
SABLE OFFSHORE CORPSOLE | COM SHS | 1.73M | SH | $15.63M 0.32% | 1.73M | 0.00 | 0.00 |
ODYSSEY MARINE EXPL INCSOLE | COM NEW | 5.19M | SH | $10.16M 0.21% | 5.19M | 0.00 | 0.00 |
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