Two Seas Capital LP
Two Seas Capital LP reported 34 US-listed holdings worth $2.51 billion in its 13F for the quarter ended 30 September 2026, filed 6 October 2026. Its largest: Calumet Inc. (11.0%), Roivant Sciences Ltd. (10.7%) and Nektar Therapeutics (8.1%). Against the quarter before, it opened 2 positions, added to 18, trimmed 7 and sold out of 5.
Reported holdings$2.51B-4.2% on Q2 2026
Positions34-3 on Q2 2026
The largest ten67.5%of its reported holdings
Latest 13FQ3 2026filed 6 October 2026
Added toTrimmed
The 14 largest of its 34 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q2 2026.
What the fund reported holding at each quarter's end; hover a bar for the number of positions
What it did on the quarter
Opened 2Added 18Held 7Trimmed 7Sold out 5
Its positions against its 13F for the quarter to 30 June 2026; a change under 0.1% of a position counts as held
Opened 2
- Solaris Energy Infrastructure, Inc. SEI$56.0 million
- Applied Digital Corp. APLD$1.2 million
Added to 18
- Immunovant Inc. IMVT+1.5 million shares · +47%
- First Solar, Inc. FSLR+250,000 shares · +195%
- Abivax SA ABVX+431,999 shares · +177%
- Core Scientific Inc. New CORZ+2.4 million shares · +27%
- Cipher Mining Inc. CIFR+2.3 million shares · +113%
- Sharonai Holdings Inc. SHAZ+652,123 shares · +50%
- Sable Offshore Corp. SOC+8.7 million shares · +104%
- Hut 8 Corp. HUT+189,860 shares · +120%
and 10 more in the table below
Trimmed 7
- Calumet Inc. CLMT-1.3 million shares · -20%
- Arbutus Biopharma Corp. ABUS-11.0 million shares · -57%
- Roivant Sciences Ltd. ROIV-1.1 million shares · -14%
- Quantum Corp. QMCO-997,543 shares · -40%
- Vistra Corp. VST-51,767 shares · -12%
- Uniqure NV QURE-117,388 shares · -8%
- Golar LNG Ltd GLNG-21,100 shares · -2%
Sold out of 5
- Darling Ingredients Inc. DAR$28.2 million last quarter
- Bitdeer Technologies Group BTDR$23.8 million last quarter
- Coreweave Inc. CRWV$15.2 million last quarter
- Sonos Inc. SONO$9.6 million last quarter
- Iris Energy Ltd IREN$6.4 million last quarter
What it holds
| Company | Shares | Value | Of its book | Change in shares |
|---|---|---|---|---|
| Calumet Inc. CLMT | 5,280,659 | $276.6 million | 11.02% | -1,339,049 |
| Roivant Sciences Ltd. ROIV | 7,325,356 | $267.9 million | 10.67% | -1,150,000 |
| Nektar Therapeutics NKTR | 3,345,978 | $202.6 million | 8.07% | +253,744 |
| Core Scientific Inc. New CORZ | 11,425,928 | $182.6 million | 7.27% | +2,397,419 |
| Talen Energy Corp. TLN | 535,493 | $167.4 million | 6.67% | +28,285 |
| Immunovant Inc. IMVT | 4,612,692 | $155.8 million | 6.21% | +1,464,187 |
| Indivior Pharmaceuticals, Inc. INDV | 3,671,072 | $131.6 million | 5.24% | +191,579 |
| Sotera Health Co. SHC | 6,111,053 | $113.0 million | 4.50% | +275,000 |
| Sharonai Holdings Inc. SHAZ | 1,945,876 | $106.2 million | 4.23% | +652,123 |
| Gannett Co. Inc. TDAY | 14,504,707 | $91.2 million | 3.63% | +434,396 |
| Cipher Mining Inc. CIFR | 4,354,745 | $68.9 million | 2.74% | +2,314,745 |
| Abivax SA ABVX | 676,589 | $67.0 million | 2.67% | +431,999 |
| First Solar, Inc. FSLR | 377,984 | $66.2 million | 2.64% | +250,000 |
| Sable Offshore Corp. SOC | 17,101,876 | $59.2 million | 2.36% | +8,724,240 |
| Golar LNG Ltd GLNG | 1,200,679 | $57.1 million | 2.27% | -21,100 |
| Solaris Energy Infrastructure, Inc. SEI | 786,838 | $56.0 million | 2.23% | new |
| Vistra Corp. VST | 378,854 | $52.4 million | 2.09% | -51,767 |
| Terawulf Inc. WULF | 3,384,531 | $50.1 million | 2.00% | +891,392 |
| EchoStar Corp. ECHO | 544,646 | $48.7 million | 1.94% | +41,671 |
| Quantum Corp. QMCO | 1,490,992 | $47.3 million | 1.88% | -997,543 |
| Ftai Aviation Ltd FTAI | 271,260 | $45.3 million | 1.80% | +22,298 |
| Arbutus Biopharma Corp. ABUS | 8,143,994 | $38.9 million | 1.55% | -10,951,589 |
| Uniqure NV QURE | 1,324,022 | $32.0 million | 1.27% | -117,388 |
| Space Exploration Techn Corp. Class A Com STK SPCX | 208,890 | $31.5 million | 1.26% | no change |
| Hut 8 Corp. HUT | 347,942 | $30.0 million | 1.19% | +189,860 |
| Staar Surgical Co. STAA | 1,304,957 | $29.5 million | 1.18% | +240,568 |
| X Energy Inc. XE | 1,394,413 | $19.8 million | 0.79% | +394,413 |
| Lucid Diagnostics Inc. LUCD | 6,000,000 | $4.5 million | 0.18% | no change |
| Odyssey Marine Expl Inc. OMEX | 5,592,985 | $3.8 million | 0.15% | no change |
| Core Scientific Inc. New CORZW | 289,539 | $2.7 million | 0.11% | no change |
| Pavmed Inc. Com PAVM | 461,539 | $1.7 million | 0.07% | no change |
| Fermi Inc. Com FRMI | 352,671 | $1.5 million | 0.06% | no change |
| Applied Digital Corp. APLD | 50,000 | $1.2 million | 0.05% | new |
| Core Scientific Inc. New CORZZ | 24,107 | $389,087 | 0.02% | no change |
Every US-listed position in the fund's 13F for the quarter ended 30 September 2026, by the value it reported.
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Change is shares against its 13F for the quarter before; the 5 it sold out of are in the box above.Options it reported
| Company | Option | Shares under the options | Value of those shares |
|---|---|---|---|
| Invesco QQQ Trust QQQ | Puts | 5,393,000 | $3.99 billion |
| SPDR S&P 500 SPY | Puts | 1,490,000 | $1.14 billion |
| iShares Russell 2000 ETF IWM | Puts | 2,477,700 | $688.5 million |
| Roivant Sciences Ltd. ROIV | Calls | 2,244,400 | $82.1 million |
| Terawulf Inc. WULF | Calls | 5,275,000 | $78.1 million |
| Talen Energy Corp. TLN | Calls | 150,000 | $46.9 million |
| Core Scientific Inc. New CORZ | Calls | 2,750,000 | $43.9 million |
| Cipher Mining Inc. CIFR | Calls | 2,560,000 | $40.5 million |
| Sharonai Holdings Inc. SHAZ | Calls | 592,300 | $32.3 million |
| Golar LNG Ltd GLNG | Calls | 250,000 | $11.9 million |
| Advisorshares Trust MSOS | Calls | 2,225,300 | $10.1 million |
| Sable Offshore Corp. SOC | Calls | 1,800,000 | $6.2 million |
| Iris Energy Ltd IREN | Calls | 74,500 | $3.0 million |
13 option lines. A 13F lists calls and puts by the shares they cover and what those shares were worth at the quarter's end, not what the options cost; they are not counted in the holdings above.