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Two Seas Capital LP

Q4 2025 · Filed 2026-02-11
Market Value
$1.3B
+14.5%
Holdings
29
-5
New Purchases
2
Added To
15
Closed
4
Reduced
6
Top 10 Concentration
79.0%
Turnover
20.7%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
NKTR 2.34% 0.00% +2.34% $32M
HUT.TO 1.68% 0.00% +1.68% $23M
IMVT 5.41% 3.79% +1.63% $73M
SATS 3.25% 1.90% +1.35% $44M
SHC 5.78% 4.52% +1.27% $78M
TLN 10.92% 9.66% +1.25% $147M
ESPR 3.27% 2.20% +1.07% $44M
ROIV 15.79% 15.13% +0.65% $212M
TDAY 5.57% 4.98% +0.58% $75M
MSOS 1.14% 0.61% +0.53% $15M
ABUS 4.50% 4.25% +0.25% $61M
SOC 1.16% 0.91% +0.25% $16M
VST 2.99% 2.83% +0.16% $40M
WULF 3.84% 3.74% +0.10% $52M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
CORZ 18.40% 23.45% -5.05% $248M
CRWV 0.59% 3.25% -2.66% $8M
BUR 0.00% 1.63% -1.63% $0
FSLR 5.52% 6.39% -0.88% $74M
META 0.70% 1.52% -0.82% $9M
BTDR 0.00% 0.65% -0.65% $0
GLNG 3.24% 3.77% -0.53% $44M
SONO 0.42% 0.71% -0.29% $6M
ANIP 0.00% 0.20% -0.20% $0
CIFR 0.34% 0.49% -0.16% $5M
GLXY 0.00% 0.10% -0.10% $0
YNDX 2.14% 2.24% -0.10% $29M
LUCD 0.24% 0.26% -0.01% $3M
CORZZ 0.03% 0.04% -0.01% $351K
OMEX 0.75% 0.76% -0.00% $10M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 1 $9M 0.7%
Large Cap 9 $629M 46.7%
Mid Cap 8 $447M 33.2%
Small Cap 9 $248M 18.4%
Micro Cap 2 $13M 1.0%

Portfolio Analytics

Avg Market Cap
$64.5B
Median Market Cap
$7.0B
Avg P/E
33.1
Median P/E
23.7
Avg Dividend Yield
0.00%
Avg Beta
2.02
# Stocks
28
# ETFs / Funds
1

Top Holdings (29 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 CORZ 18.40% 17,011,221 $248M $14.56 -$28M +1,647,243 +10.7%
2 ROIV 15.79% 9,791,891 $212M $21.70 $35M -1,962,273 -16.7%
3 TLN 10.92% 391,974 $147M $374.84 $33M +125,086 +46.9%
4 SHC 5.78% 4,412,106 $78M $17.64 $25M +1,038,878 +30.8%
5 TDAY 5.57% 14,552,621 $75M $5.15 $16M +372,000 +2.6%
6 FSLR 5.52% 284,259 $74M $261.23 -$876K -56,433 -16.6%
7 IMVT 5.41% 2,866,962 $73M $25.42 $28M +104,922 +3.8%
8 ABUS 4.50% 12,589,158 $61M $4.81 $11M +1,597,897 +14.5%
9 WULF 3.84% 4,502,794 $52M $11.49 $8M +651,606 +16.9%
10 ESPR 3.27% 11,902,521 $44M $3.70 $18M +2,152,797 +22.1%
11 SATS 3.25% 402,135 $44M $108.70 $21M +109,665 +37.5%
12 GLNG 3.24% 1,170,998 $44M $37.21 -$716K +75,000 +6.8%
13 VST 2.99% 249,707 $40M $161.33 $7M +79,707 +46.9%
14 NKTR 2.34% 745,185 $32M $42.28 +745,185 NEW
15 YNDX 2.14% 344,482 $29M $83.71 $3M +110,000 +46.9%
16 HUT.TO 1.68% 491,500 $23M $45.94 +491,500 NEW
17 SOC 1.16% 1,733,239 $16M $9.02 $5M +1,119,195 +182.3%
18 MSOS 1.14% 3,252,409 $15M $4.72 $8M +1,752,409 +116.8%
19 OMEX 0.75% 5,185,029 $10M $1.96 $1M +615,018 +13.5%
20 META 0.70% 14,272 $9M $660.09 -$8M -10,000 -41.2%
21 CRWV 0.59% 110,000 $8M $71.61 -$30M -169,051 -60.6%
22 SONO 0.42% 322,462 $6M $17.56 -$3M -208,580 -39.3%
23 CIFR 0.34% 305,756 $5M $14.76 -$1M -156,244 -33.8%
24 LUCD 0.24% 3,000,000 $3M $1.09 $240K
25 CORZZ 0.03% 24,107 $351K $14.54 -$82K
26 BUR —% -$19M -1,602,067 -100.0% SOLD
27 ANIP —% -$2M -25,721 -100.0% SOLD
28 GLXY —% -$1M -35,000 -100.0% SOLD
29 BTDR —% -$8M -450,000 -100.0% SOLD

Options Breakdown

7 Calls $274M Call Value 4 Puts $2.9B Put Value 10.42 P/C Ratio

Top Calls

SymbolSharesValueStatus
CORZ 8,477,600 $123M
HUT.TO 1,752,500 $81M NEW
ROIV 2,435,500 $53M
MSOS 3,575,300 $17M
CRWV $0 SOLD
SOC $0 SOLD
PCG $0 SOLD

Top Puts

SymbolSharesValueStatus
SPY 3,707,000 $2.5B
IWM 1,050,000 $258M
IBIT 1,218,000 $60M NEW
CORZ 240,000 $3M NEW

New Positions

SymbolValue% Port
NKTR $32M 2.34%
HUT.TO $23M 1.68%

Sold Out Positions

SymbolValue% Port
BTDR —%
ANIP —%
GLXY —%
BUR —%
View SEC EDGAR Filings for Two Seas Capital LP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms