Two Seas Capital LP

Q3 2025 13F-HR Holdings

Location
Rye, NY
Holdings as of
9/30/2025
Date filed
11/14/2025
Form type
13F-HR
Num holdings
41
Total value ($000)
$6,229,650
Net value change ($000)
+274,335 (4.6%)
New positions
7
Sold out positions
8
Turnover %
8.5%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/13/2025 Next filing: 2/11/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 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)
CORZ 160,066 138.5%
INDV 85,104 50.6%
FSLR 73,478 4439.8%
ROIV 58,401 48.9%
CRWV 38,188 NEW
CLMT 34,124 48.2%
WULF 33,964 339.1%
AVDL 27,514 50.5%
TLN 26,095 29.8%
FTAI 24,412 118.7%
Top Reduces (Value $000, Stocks/ETFs)
CEG -15,392 -100.0%
IREN -14,160 -100.0%
VST -11,514 -25.7%
PROSHARES TRUST -9,785 -100.0%
ARDX -6,035 -100.0%
ADAPY -5,413 -100.0%
APLD -5,035 -100.0%
BUR -3,337 -14.8%
NRG -2,409 -100.0%
WOLF -962 -100.0%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 4,565,927 (73.3% 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