1y return+118.7%S&P 500 +20.9%
3y return+120.9%S&P 500 +68.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since December 31, 2021: $260 against $157 in the S&P 500.2
Two Seas Capital LPS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| Roivant Sciences LtdCUSIP G76279101 | $299.9M | 11.4% | −9.1% |
| CLMTCalumet Inc | $238.4M | 9.1% | +11.1% |
| CORZCore Scientific Inc New | $231.0M | 8.8% | −44.1% |
| NKTRNektar Therapeutics | $215.9M | 8.2% | +57.8% |
| TLNTalen Energy Corp | $194.9M | 7.4% | −12.4% |
| INDVIndivior Pharmaceuticals Inc | $142.8M | 5.4% | −26.7% |
| IMVTImmunovant Inc | $121.3M | 4.6% | −1.7% |
| TDAYUsa Today Co Inc | $120.3M | 4.6% | |
| SHAZSharonai Holdings Inc | $109.5M | 4.2% | +210.5% |
| SHCSotera Health Co | $103.6M | 4.0% | −3.1% |
| ABUSArbutus Biopharma Corp | $91.7M | 3.5% | +2.9% |
| VSTVistra Corp | $68.3M | 2.6% | +132.0% |
| Ftai Aviation LtdCUSIP G3730V105 | $67.4M | 2.6% | −2.6% |
| Uniqure NvCUSIP N90064101 | $66.4M | 2.5% | +10.9% |
| WULFTerawulf Inc | $61.6M | 2.4% | −38.0% |
| Golar Lng LtdCUSIP G9456A100 | $60.9M | 2.3% | −4.2% |
| ECHOEchostar Corp | $51.1M | 1.9% | +31.6% |
| CIFRCipher Digital Inc | $50.0M | 1.9% | |
| SPCXSpace Exploration Techn Corp | $35.7M | 1.4% | New |
| ABVXAbivax Sa | $32.6M | 1.2% | New |
| STAAStaar Surgical Co | $30.5M | 1.2% | +2.6% |
| FSLRFirst Solar Inc | $30.2M | 1.2% | −57.8% |
| DARDarling Ingredients Inc | $28.2M | 1.1% | +3025.4% |
| QMCOQuantum Corp | $27.4M | 1.0% | New |
| SOCSable Offshore Corp | $25.8M | 1.0% | +52.4% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| WULFTerawulf Inc | March 31, 2025 | +804.8% | $61.6M |
| CORZCore Scientific Inc New | March 31, 2024 | +622.9% | $231.0M |
| CIFRCipher Digital Inc | June 30, 2025 | +412.6% | $50.0M |
| Roivant Sciences LtdCUSIP G76279101 | December 31, 2021 | +251.1% | $299.9M |
| TLNTalen Energy Corp | June 30, 2024 | +246.1% | $194.9M |
| Uniqure NvCUSIP N90064101 | March 31, 2026 | +181.7% | $66.4M |
| HUTHut 8 Corp | December 31, 2025 | +151.3% | $18.2M |
| Ftai Aviation LtdCUSIP G3730V105 | March 31, 2025 | +143.7% | $67.4M |
| VSTVistra Corp | March 31, 2024 | +127.8% | $68.3M |
| CLMTCalumet Inc | September 30, 2024 | +102.1% | $238.4M |
Sold off last quarter
- Esperion Therapeutics Inc NeCUSIP 29664W105 was $31.2M
- TACTransalta Corp was $20.9M
- Nebius Group N.v.CUSIP N97284108 was $20.4M
- MSOSAdvisorshares Tr was $11.7M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +30.0% | +14.8% |
| March 31, 2026 | +10.5% | −4.6% |
| December 31, 2025 | +13.3% | +2.4% |
| September 30, 2025 | +34.4% | +7.8% |
| June 30, 2025 | +35.6% | +10.5% |
| March 31, 2025 | −21.7% | −4.6% |
| December 31, 2024 | +11.2% | +2.1% |
| September 30, 2024 | −1.3% | +5.4% |
| June 30, 2024 | −9.4% | +4.0% |
| March 31, 2024 | +19.6% | +10.0% |
| December 31, 2023 | −19.5% | +11.2% |
| September 30, 2023 | −0.7% | −3.6% |
| June 30, 2023 | +16.7% | +8.3% |
| March 31, 2023 | +7.2% | +7.0% |
| December 31, 2022 | +45.1% | +7.1% |
| September 30, 2022 | −5.9% | −5.3% |
| June 30, 2022 | −23.1% | −16.5% |
| March 31, 2022 | −10.3% | −4.9% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Two Seas Capital LP Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1823138&type=13F-HR&dateb=&owner=include&count=40CIK 1823138
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1823138/000131586326000584/Filed August 12, 2026 · accession 0001315863-26-000584