Two Seas Capital LP

Q2 2025 13F-HR Holdings

Location
Rye, NY
Holdings as of
6/30/2025
Date filed
8/13/2025
Form type
13F-HR
Num holdings
39
Total value ($000)
$5,955,315
Net value change ($000)
+2,781,275 (87.6%)
New positions
10
Sold out positions
1
Turnover %
8.0%
Sector allocation + QoQ delta (equities-only)
Prev filing: 5/15/2025 Next filing: 11/14/2025 SEC filing

Snapshot: Change Analysis

Compared to Q1 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
INDV 61,644 57.9%
CORZ 57,676 99.6%
CLMT 34,513 95.0%
TDAY 30,272 304.7%
BUR 22,498 NEW
VST 19,989 80.5%
GOLAR LNG LTD 17,855 91.1%
ROIV 17,165 16.8%
AVDL 15,741 40.6%
CEG 15,392 NEW
Top Reduces (Value $000, Stocks/ETFs)
TLN -6,865 -7.3%
ARDX -4,376 -42.0%
SONO -1,561 -33.9%
HUT -1,532 -100.0%
ABUS -766 -2.3%
ESPR -180 -1.8%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 4,935,508 (82.9% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type