Filed: 5/15/2026ACC: 0001315863-26-000426
📋 What this filing means
TWO SEAS CAPITAL LP filed this quarterly 13F‑HR report disclosing 40 equity positions with a total reported market value of $7.15B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
40
Positions
$7.15B
Total AUM (reported)
146M
Total Shares
Allocation by class
TR UNIT$4.21B58.8%
COM$1.82B25.5%
SHS$445.03M6.2%
STATE STREET SPD$246.26M3.4%
COM NEW$145.63M2.0%
COM SHS$90.81M1.3%
CL A$88.64M1.2%
Portfolio Concentration
Top 3$4.79B67.0%
4–10$1.30B18.1%
11–25$914.63M12.8%
Rest$148.23M2.1%
Top 3 weight
67.0%
Top 10 weight
85.1%
Voting Authority Distribution
Total shares with voting rights: 146M
Sole
Full voting authority
146M
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)
Sole40
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings40
Rows:
STATE STR SPDR S&P 500 ETF T
SOLEShares6.47M
TypeSH
Market value$4.21B
58.80%
Sole
6.47M
Shared
0.00
None
0.00
CORE SCIENTIFIC INC NEW
SOLEShares20.69M
TypeSH
Market value$309.46M
4.33%
Sole
20.69M
Shared
0.00
None
0.00
ROIVANT SCIENCES LTD
SOLEShares10.06M
TypeSH
Market value$278.68M
3.90%
Sole
10.06M
Shared
0.00
None
0.00
SPDR SERIES TRUST
SOLEShares1.93M
TypeSH
Market value$246.26M
3.44%
Sole
1.93M
Shared
0.00
None
0.00
APPLE INC
SOLEShares850K
TypeSH
Market value$215.72M
3.02%
Sole
850K
Shared
0.00
None
0.00
CALUMET INC
SOLEShares5.96M
TypeSH
Market value$213.97M
2.99%
Sole
5.96M
Shared
0.00
None
0.00
TALEN ENERGY CORP
SOLEShares579.13K
TypeSH
Market value$184.88M
2.58%
Sole
579.13K
Shared
0.00
None
0.00
FIRST SOLAR INC
SOLEShares761.68K
TypeSH
Market value$150.25M
2.10%
Sole
761.68K
Shared
0.00
None
0.00
INDIVIOR PHARMACEUTICALS INC
SOLEShares4.75M
TypeSH
Market value$144.67M
2.02%
Sole
4.75M
Shared
0.00
None
0.00
NEKTAR THERAPEUTICS
SOLEShares1.96M
TypeSH
Market value$140.96M
1.97%
Sole
1.96M
Shared
0.00
None
0.00
USA TODAY CO INC
SOLEShares14.05M
TypeSH
Market value$99.02M
1.38%
Sole
14.05M
Shared
0.00
None
0.00
SABLE OFFSHORE CORP
SOLEShares5.50M
TypeSH
Market value$90.81M
1.27%
Sole
5.50M
Shared
0.00
None
0.00
ECHOSTAR CORP
SOLEShares757.13K
TypeSH
Market value$88.64M
1.24%
Sole
757.13K
Shared
0.00
None
0.00
SOTERA HEALTH CO
SOLEShares6.02M
TypeSH
Market value$86.38M
1.21%
Sole
6.02M
Shared
0.00
None
0.00
ARBUTUS BIOPHARMA CORP
SOLEShares18.56M
TypeSH
Market value$83.51M
1.17%
Sole
18.56M
Shared
0.00
None
0.00
GOLAR LNG LTD
SOLEShares1.52M
TypeSH
Market value$82.50M
1.15%
Sole
1.52M
Shared
0.00
None
0.00
IMMUNOVANT INC
SOLEShares3.20M
TypeSH
Market value$79.54M
1.11%
Sole
3.20M
Shared
0.00
None
0.00
FTAI AVIATION LTD
SOLEShares255.51K
TypeSH
Market value$62.60M
0.87%
Sole
255.51K
Shared
0.00
None
0.00
TERAWULF INC
SOLEShares4.02M
TypeSH
Market value$58.07M
0.81%
Sole
4.02M
Shared
0.00
None
0.00
MODERNA INC
SOLEShares1.10M
TypeSH
Market value$55.88M
0.78%
Sole
1.10M
Shared
0.00
None
0.00
ESPERION THERAPEUTICS INC NE
SOLEShares11.39M
TypeSH
Market value$31.22M
0.44%
Sole
11.39M
Shared
0.00
None
0.00
VISTRA CORP
SOLEShares185.60K
TypeSH
Market value$27.90M
0.39%
Sole
185.60K
Shared
0.00
None
0.00
CIPHER DIGITAL INC
SOLEShares2.05M
TypeSH
Market value$26.38M
0.37%
Sole
2.05M
Shared
0.00
None
0.00
UNIQURE NV
SOLEShares1.30M
TypeSH
Market value$21.25M
0.30%
Sole
1.30M
Shared
0.00
None
0.00
TRANSALTA CORP
SOLEShares1.60M
TypeSH
Market value$20.93M
0.29%
Sole
1.60M
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
STATE STR SPDR S&P 500 ETF TSOLE | TR UNIT | 6.47M | SH | $4.21B 58.80% | 6.47M | 0.00 | 0.00 |
CORE SCIENTIFIC INC NEWSOLE | COM | 20.69M | SH | $309.46M 4.33% | 20.69M | 0.00 | 0.00 |
ROIVANT SCIENCES LTDSOLE | SHS | 10.06M | SH | $278.68M 3.90% | 10.06M | 0.00 | 0.00 |
SPDR SERIES TRUSTSOLE | STATE STREET SPD | 1.93M | SH | $246.26M 3.44% | 1.93M | 0.00 | 0.00 |
APPLE INCSOLE | COM | 850K | SH | $215.72M 3.02% | 850K | 0.00 | 0.00 |
CALUMET INCSOLE | COM | 5.96M | SH | $213.97M 2.99% | 5.96M | 0.00 | 0.00 |
TALEN ENERGY CORPSOLE | COM | 579.13K | SH | $184.88M 2.58% | 579.13K | 0.00 | 0.00 |
FIRST SOLAR INCSOLE | COM | 761.68K | SH | $150.25M 2.10% | 761.68K | 0.00 | 0.00 |
INDIVIOR PHARMACEUTICALS INCSOLE | COM | 4.75M | SH | $144.67M 2.02% | 4.75M | 0.00 | 0.00 |
NEKTAR THERAPEUTICSSOLE | COM NEW | 1.96M | SH | $140.96M 1.97% | 1.96M | 0.00 | 0.00 |
USA TODAY CO INCSOLE | COM | 14.05M | SH | $99.02M 1.38% | 14.05M | 0.00 | 0.00 |
SABLE OFFSHORE CORPSOLE | COM SHS | 5.50M | SH | $90.81M 1.27% | 5.50M | 0.00 | 0.00 |
ECHOSTAR CORPSOLE | CL A | 757.13K | SH | $88.64M 1.24% | 757.13K | 0.00 | 0.00 |
SOTERA HEALTH COSOLE | COM | 6.02M | SH | $86.38M 1.21% | 6.02M | 0.00 | 0.00 |
ARBUTUS BIOPHARMA CORPSOLE | COM | 18.56M | SH | $83.51M 1.17% | 18.56M | 0.00 | 0.00 |
GOLAR LNG LTDSOLE | SHS | 1.52M | SH | $82.50M 1.15% | 1.52M | 0.00 | 0.00 |
IMMUNOVANT INCSOLE | COM | 3.20M | SH | $79.54M 1.11% | 3.20M | 0.00 | 0.00 |
FTAI AVIATION LTDSOLE | SHS | 255.51K | SH | $62.60M 0.87% | 255.51K | 0.00 | 0.00 |
TERAWULF INCSOLE | COM | 4.02M | SH | $58.07M 0.81% | 4.02M | 0.00 | 0.00 |
MODERNA INCSOLE | COM | 1.10M | SH | $55.88M 0.78% | 1.10M | 0.00 | 0.00 |
ESPERION THERAPEUTICS INC NESOLE | COM | 11.39M | SH | $31.22M 0.44% | 11.39M | 0.00 | 0.00 |
VISTRA CORPSOLE | COM | 185.60K | SH | $27.90M 0.39% | 185.60K | 0.00 | 0.00 |
CIPHER DIGITAL INCSOLE | COM | 2.05M | SH | $26.38M 0.37% | 2.05M | 0.00 | 0.00 |
UNIQURE NVSOLE | SHS | 1.30M | SH | $21.25M 0.30% | 1.30M | 0.00 | 0.00 |
TRANSALTA CORPSOLE | COM | 1.60M | SH | $20.93M 0.29% | 1.60M | 0.00 | 0.00 |
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