Q4 2025 · 13F-HR
Two Seas Capital LPholdings as filed
Filed 2026-02-11 · accession 0001315863-26-000142
$4.85B
Reported value
38
Positions
2025-12-31
Period end
The Brief · Two Seas Capital LP · Q4 2025
AI · grounded in 13F
Two Seas Capital LP initiated a $2.5B position in SPY. The fund also established new stakes in CORE SCIENTIFIC INC NEW for $374.6M and ROIVANT SCIENCES LTD for $265.3M. Additional new positions include IWM at $258.5M and INDIVIOR PLC at $183.3M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $2.53B | 52.1% | 3,707,000 | PUT | SOLE |
| 464287655 | IWM | ISHARES TR | $258.5M | 5.33% | 1,050,000 | PUT | SOLE |
| 21874A106 | CORZ | CORE SCIENTIFIC INC NEW | $247.7M | 5.10% | 17,011,221 | Common | SOLE |
| G76279101 | ROIV | ROIVANT SCIENCES LTD | $212.5M | 4.38% | 9,791,891 | Common | SOLE |
| G4766E116 | INDV | INDIVIOR PLC | $183.3M | 3.78% | 5,109,198 | Common | SOLE |
| 87422Q109 | TLN | TALEN ENERGY CORP | $146.9M | 3.03% | 391,974 | Common | SOLE |
| 131428104 | CLMT | CALUMET INC | $138.6M | 2.86% | 6,976,229 | Common | SOLE |
| 21874A106 | CORZ | CORE SCIENTIFIC INC NEW | $123.4M | 2.54% | 8,477,600 | CALL | SOLE |
| 44812J104 | HUT | HUT 8 CORP | $80.5M | 1.66% | 1,752,500 | CALL | SOLE |
| 83601L102 | SHC | SOTERA HEALTH CO | $77.8M | 1.60% | 4,412,106 | Common | SOLE |
| 36472T109 | TDAY | USA TODAY CO INC | $74.9M | 1.54% | 14,552,621 | Common | SOLE |
| 336433107 | FSLR | FIRST SOLAR INC | $74.3M | 1.53% | 284,259 | Common | SOLE |
| 45258J102 | IMVT | IMMUNOVANT INC | $72.9M | 1.50% | 2,866,962 | Common | SOLE |
| 03879J100 | ABUS | ARBUTUS BIOPHARMA CORP | $60.6M | 1.25% | 12,589,158 | Common | SOLE |
| 46438F101 | IBIT | ISHARES BITCOIN TRUST ETF | $60.5M | 1.25% | 1,218,000 | PUT | SOLE |
| G76279101 | ROIV | ROIVANT SCIENCES LTD | $52.9M | 1.09% | 2,435,500 | CALL | SOLE |
| 88080T104 | WULF | TERAWULF INC | $51.7M | 1.07% | 4,502,794 | Common | SOLE |
| 29664W105 | ESPR | ESPERION THERAPEUTICS INC NE | $44.0M | 0.91% | 11,902,521 | Common | SOLE |
| 278768106 | SATS | ECHOSTAR CORP | $43.7M | 0.90% | 402,135 | Common | SOLE |
| G9456A100 | GLNG | GOLAR LNG LTD | $43.6M | 0.90% | 1,170,998 | Common | SOLE |
| 92840M102 | VST | VISTRA CORP | $40.3M | 0.83% | 249,707 | Common | SOLE |
| G3730V105 | FTAI | FTAI AVIATION LTD | $36.7M | 0.76% | 186,209 | Common | SOLE |
| 640268306 | NKTR | NEKTAR THERAPEUTICS | $31.5M | 0.65% | 745,185 | Common | SOLE |
| N97284108 | NBIS | NEBIUS GROUP N.V. | $28.8M | 0.59% | 344,482 | Common | SOLE |
| 44812J104 | HUT | HUT 8 CORP | $22.6M | 0.47% | 491,500 | Common | SOLE |
| 131428104 | CLMT | CALUMET INC | $22.3M | 0.46% | 1,122,000 | CALL | SOLE |
| 00768Y453 | MSOS | ADVISORSHARES TR | $16.9M | 0.35% | 3,575,300 | CALL | SOLE |
| 78574H104 | SOC | SABLE OFFSHORE CORP | $15.6M | 0.32% | 1,733,239 | Common | SOLE |
| 00768Y453 | MSOS | ADVISORSHARES TR | $15.4M | 0.32% | 3,252,409 | Common | SOLE |
| 676118201 | OMEX | ODYSSEY MARINE EXPL INC | $10.2M | 0.21% | 5,185,029 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INC | $9.4M | 0.19% | 14,272 | Common | SOLE |
| 21873S108 | CRWV | COREWEAVE INC | $7.9M | 0.16% | 110,000 | Common | SOLE |
| 83570H108 | SONO | SONOS INC | $5.7M | 0.12% | 322,462 | Common | SOLE |
| 17253J106 | CIFR | CIPHER MINING INC | $4.5M | 0.09% | 305,756 | Common | SOLE |
| 21874A106 | CORZ | CORE SCIENTIFIC INC NEW | $3.5M | 0.07% | 240,000 | PUT | SOLE |
| 54948X109 | LUCD | LUCID DIAGNOSTICS INC | $3.3M | 0.07% | 3,000,000 | Common | SOLE |
| 21874A114 | CORZW | CORE SCIENTIFIC INC NEW | $2.4M | 0.05% | 289,539 | Common | SOLE |
| 21874A130 | CORZZ | CORE SCIENTIFIC INC NEW | $350,516 | 0.01% | 24,107 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.