Two Seas Capital LP Hedge Fund

Location: Rye, NY

CIK: 0001823138 · Show all filings

Period: Q1 2025 (← Previous) (Next →)

Filing Date: May 15, 2025

Total Value: $3.174B (100.0% shares, 0.0% debt)

Holdings (30)

SPY SPDR S&P 500 ETF TR 35.9%

Value $1.138B Shares 2,035,000 Share Price $559.39 Est. Cost/Share — Unrealized @ Report Date —

QQQ INVESCO QQQ TR 22.5%

Value $715M Shares 1,525,000 Share Price $468.92 Est. Cost/Share — Unrealized @ Report Date —

HYG ISHARES TR 18.2%

Value $578M Shares 7,325,500 Share Price $78.89 Est. Cost/Share — Unrealized @ Report Date —

— INDIVIOR PLC 3.4%

Value $107M Shares 11,366,777 Share Price $9.37 Est. Cost/Share $23.28 Unrealized @ Report Date —

ROIV ROIVANT SCIENCES LTD 3.2%

Value $102M Shares 10,136,307 Share Price $10.09 Est. Cost/Share $7.00 Unrealized @ Report Date +44.2%

TLN TALEN ENERGY CORP 3.0%

Value $94.3M Shares 472,275 Share Price $199.67 Est. Cost/Share $124.30 Unrealized @ Report Date +60.6%

CORZ CORE SCIENTIFIC INC NEW 1.8%

Value $57.89M Shares 7,995,574 Share Price $7.24 Est. Cost/Share $6.41 Unrealized @ Report Date +13.0%

TLN TALEN ENERGY CORP 1.6%

Value $49.92M Shares 250,000 Share Price $199.67 Est. Cost/Share $124.30 Unrealized @ Report Date +60.6%

— AVADEL PHARMACEUTICALS PLC 1.2%

Value $38.73M Shares 4,946,449 Share Price $7.83 Est. Cost/Share $11.75 Unrealized @ Report Date —

SHC SOTERA HEALTH CO 1.2%

Value $38.72M Shares 3,321,136 Share Price $11.66 Est. Cost/Share $14.28 Unrealized @ Report Date -18.3%

CLMT CALUMET INC 1.1%

Value $36.35M Shares 2,866,511 Share Price $12.68 Est. Cost/Share $18.47 Unrealized @ Report Date -31.4%

VST VISTRA CORP 1.1%

Value $35.23M Shares 300,000 Share Price $117.44 Est. Cost/Share $86.88 Unrealized @ Report Date +34.7%

ABUS ARBUTUS BIOPHARMA CORP 1.0%

Value $33.04M Shares 9,465,956 Share Price $3.49 Est. Cost/Share $2.75 Unrealized @ Report Date +27.0%

IMVT IMMUNOVANT INC 0.9%

Value $28.07M Shares 1,642,772 Share Price $17.09 Est. Cost/Share $28.75 Unrealized @ Report Date -40.6%

VST VISTRA CORP 0.8%

Value $24.83M Shares 211,435 Share Price $117.44 Est. Cost/Share $86.88 Unrealized @ Report Date +34.7%

GLNG GOLAR LNG LTD 0.6%

Value $19.6M Shares 515,949 Share Price $37.99 Est. Cost/Share $38.25 Unrealized @ Report Date -2.5%

FTAI FTAI AVIATION LTD 0.4%

Value $12.84M Shares 115,663 Share Price $111.03 Est. Cost/Share $117.07 Unrealized @ Report Date -5.8%

ARDX ARDELYX INC 0.3%

Value $10.41M Shares 2,120,337 Share Price $4.91 Est. Cost/Share $5.51 Unrealized @ Report Date -10.8%

ESPR ESPERION THERAPEUTICS INC NE 0.3%

Value $9.98M Shares 6,930,871 Share Price $1.44 Est. Cost/Share $1.74 Unrealized @ Report Date -17.1%

TDAY GANNETT CO INC 0.3%

Value $9.934M Shares 3,437,206 Share Price $2.89 Est. Cost/Share $4.35 Unrealized @ Report Date -33.5%

TDAY GANNETT CO INC 0.3%

Value $8.135M Shares 2,814,900 Share Price $2.89 Est. Cost/Share $4.35 Unrealized @ Report Date -33.5%

CORZ CORE SCIENTIFIC INC NEW 0.2%

Value $6.056M Shares 836,500 Share Price $7.24 Est. Cost/Share $6.41 Unrealized @ Report Date +13.0%

SONO SONOS INC 0.1%

Value $4.599M Shares 431,042 Share Price $10.67 Est. Cost/Share $16.85 Unrealized @ Report Date -36.7%

IREN IREN LIMITED 0.1%

Value $4.05M Shares 665,000 Share Price $6.09 Est. Cost/Share $10.19 Unrealized @ Report Date -40.2%

ADAPY ADAPTIMMUNE THERAPEUTICS PLC 0.1%

Value $4.044M Shares 20,529,685 Share Price $0.20 Est. Cost/Share $0.44 Unrealized @ Report Date —

NBIS NEBIUS GROUP N.V. 0.1%

Value $3.167M Shares 150,000 Share Price $21.11 Est. Cost/Share $32.90 Unrealized @ Report Date -35.8%

HUT HUT 8 CORP 0.0%

Value $1.532M Shares 131,808 Share Price $11.62 Est. Cost/Share $17.36 Unrealized @ Report Date -33.1%

OMEX ODYSSEY MARINE EXPL INC 0.0%

Value $1.021M Shares 2,549,049 Share Price $0.40 Est. Cost/Share $0.70 Unrealized @ Report Date -42.4%

CORZW CORE SCIENTIFIC INC NEW 0.0%

Value $849K Shares 280,248 Share Price $3.03 Est. Cost/Share $1.33 Unrealized @ Report Date —

WULF TERAWULF INC 0.0%

Value $585K Shares 214,371 Share Price $2.73 Est. Cost/Share $4.46 Unrealized @ Report Date -38.7%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
SPY	SPDR S&P 500 ETF TR	2,035,000	$1.138B	35.9%	$559.39	—	—	Put	78462F103
QQQ	INVESCO QQQ TR	1,525,000	$715M	22.5%	$468.92	—	—	Put	46090E103
HYG	ISHARES TR	7,325,500	$578M	18.2%	$78.89	—	—	Put	464288513
—	INDIVIOR PLC	11,366,777	$107M	3.4%	$9.37	$23.28	—	ORD	G4766E116
ROIV	ROIVANT SCIENCES LTD	10,136,307	$102M	3.2%	$10.09	$7.00	+44.2%	SHS	G76279101
TLN	TALEN ENERGY CORP	472,275	$94.3M	3.0%	$199.67	$124.30	+60.6%	COM	87422Q109
CORZ	CORE SCIENTIFIC INC NEW	7,995,574	$57.89M	1.8%	$7.24	$6.41	+13.0%	COM	21874A106
TLN	TALEN ENERGY CORP	250,000	$49.92M	1.6%	$199.67	$124.30	+60.6%	Call	87422Q109
—	AVADEL PHARMACEUTICALS PLC	4,946,449	$38.73M	1.2%	$7.83	$11.75	—	COM SHS	G29687103
SHC	SOTERA HEALTH CO	3,321,136	$38.72M	1.2%	$11.66	$14.28	-18.3%	COM	83601L102
CLMT	CALUMET INC	2,866,511	$36.35M	1.1%	$12.68	$18.47	-31.4%	COM	131428104
VST	VISTRA CORP	300,000	$35.23M	1.1%	$117.44	$86.88	+34.7%	Call	92840M102
ABUS	ARBUTUS BIOPHARMA CORP	9,465,956	$33.04M	1.0%	$3.49	$2.75	+27.0%	COM	03879J100
IMVT	IMMUNOVANT INC	1,642,772	$28.07M	0.9%	$17.09	$28.75	-40.6%	COM	45258J102
VST	VISTRA CORP	211,435	$24.83M	0.8%	$117.44	$86.88	+34.7%	COM	92840M102
GLNG	GOLAR LNG LTD	515,949	$19.6M	0.6%	$37.99	$38.25	-2.5%	SHS	G9456A100
FTAI	FTAI AVIATION LTD	115,663	$12.84M	0.4%	$111.03	$117.07	-5.8%	SHS	G3730V105
ARDX	ARDELYX INC	2,120,337	$10.41M	0.3%	$4.91	$5.51	-10.8%	COM	039697107
ESPR	ESPERION THERAPEUTICS INC NE	6,930,871	$9.98M	0.3%	$1.44	$1.74	-17.1%	COM	29664W105
TDAY	GANNETT CO INC	3,437,206	$9.934M	0.3%	$2.89	$4.35	-33.5%	COM	36472T109
TDAY	GANNETT CO INC	2,814,900	$8.135M	0.3%	$2.89	$4.35	-33.5%	Call	36472T109
CORZ	CORE SCIENTIFIC INC NEW	836,500	$6.056M	0.2%	$7.24	$6.41	+13.0%	Call	21874A106
SONO	SONOS INC	431,042	$4.599M	0.1%	$10.67	$16.85	-36.7%	COM	83570H108
IREN	IREN LIMITED	665,000	$4.05M	0.1%	$6.09	$10.19	-40.2%	ORDINARY SHARES	Q4982L109
ADAPY	ADAPTIMMUNE THERAPEUTICS PLC	20,529,685	$4.044M	0.1%	$0.20	$0.44	—	SPONDS ADR	00653A107
NBIS	NEBIUS GROUP N.V.	150,000	$3.167M	0.1%	$21.11	$32.90	-35.8%	SHS CLASS A	N97284108
HUT	HUT 8 CORP	131,808	$1.532M	0.0%	$11.62	$17.36	-33.1%	COM	44812J104
OMEX	ODYSSEY MARINE EXPL INC	2,549,049	$1.021M	0.0%	$0.40	$0.70	-42.4%	COM NEW	676118201
CORZW	CORE SCIENTIFIC INC NEW	280,248	$849K	0.0%	$3.03	$1.33	—	*W EXP 01/23/202	21874A114
WULF	TERAWULF INC	214,371	$585K	0.0%	$2.73	$4.46	-38.7%	COM	88080T104