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 Est. Cost — Unrealized —

QQQ INVESCO QQQ TR 22.5%

Value $715M Shares 1,525,000 Est. Cost — Unrealized —

HYG ISHARES TR 18.2%

Value $578M Shares 7,325,500 Est. Cost — Unrealized —

— INDIVIOR PLC 3.4%

Value $107M Shares 11,366,777 Est. Cost $23.28 Unrealized —

ROIV ROIVANT SCIENCES LTD 3.2%

Value $102M Shares 10,136,307 Est. Cost $7.00 Unrealized +54.6%

TLN TALEN ENERGY CORP 3.0%

Value $94.3M Shares 472,275 Est. Cost $124.30 Unrealized +74.5%

CORZ CORE SCIENTIFIC INC NEW 1.8%

Value $57.89M Shares 7,995,574 Est. Cost $6.41 Unrealized +77.6%

TLN TALEN ENERGY CORP 1.6%

Value $49.92M Shares 250,000 Est. Cost $124.30 Unrealized +74.5%

— AVADEL PHARMACEUTICALS PLC 1.2%

Value $38.73M Shares 4,946,449 Est. Cost $11.75 Unrealized —

SHC SOTERA HEALTH CO 1.2%

Value $38.72M Shares 3,321,136 Est. Cost $14.28 Unrealized -9.9%

CLMT CALUMET INC 1.1%

Value $36.35M Shares 2,866,511 Est. Cost $18.47 Unrealized -15.0%

VST VISTRA CORP 1.1%

Value $35.23M Shares 300,000 Est. Cost $86.88 Unrealized +71.1%

ABUS ARBUTUS BIOPHARMA CORP 1.0%

Value $33.04M Shares 9,465,956 Est. Cost $2.75 Unrealized +21.4%

IMVT IMMUNOVANT INC 0.9%

Value $28.07M Shares 1,642,772 Est. Cost $28.75 Unrealized -27.2%

VST VISTRA CORP 0.8%

Value $24.83M Shares 211,435 Est. Cost $86.88 Unrealized +71.1%

GLNG GOLAR LNG LTD 0.6%

Value $19.6M Shares 515,949 Est. Cost $38.25 Unrealized 0.0%

FTAI FTAI AVIATION LTD 0.4%

Value $12.84M Shares 115,663 Est. Cost $117.07 Unrealized 0.0%

ARDX ARDELYX INC 0.3%

Value $10.41M Shares 2,120,337 Est. Cost $5.51 Unrealized -2.5%

ESPR ESPERION THERAPEUTICS INC NE 0.3%

Value $9.98M Shares 6,930,871 Est. Cost $1.74 Unrealized +6.1%

TDAY GANNETT CO INC 0.3%

Value $9.934M Shares 3,437,206 Est. Cost $4.35 Unrealized -3.8%

TDAY GANNETT CO INC 0.3%

Value $8.135M Shares 2,814,900 Est. Cost $4.35 Unrealized -3.8%

CORZ CORE SCIENTIFIC INC NEW 0.2%

Value $6.056M Shares 836,500 Est. Cost $6.41 Unrealized +77.6%

SONO SONOS INC 0.1%

Value $4.599M Shares 431,042 Est. Cost $16.85 Unrealized -22.0%

IREN IREN LIMITED 0.1%

Value $4.05M Shares 665,000 Est. Cost $10.19 Unrealized -4.4%

ADAPY ADAPTIMMUNE THERAPEUTICS PLC 0.1%

Value $4.044M Shares 20,529,685 Est. Cost $0.44 Unrealized —

NBIS NEBIUS GROUP N.V. 0.1%

Value $3.167M Shares 150,000 Est. Cost $32.90 Unrealized 0.0%

HUT HUT 8 CORP 0.0%

Value $1.532M Shares 131,808 Est. Cost $17.36 Unrealized +6.4%

OMEX ODYSSEY MARINE EXPL INC 0.0%

Value $1.021M Shares 2,549,049 Est. Cost $0.70 Unrealized -26.8%

CORZW CORE SCIENTIFIC INC NEW 0.0%

Value $849K Shares 280,248 Est. Cost $1.33 Unrealized —

WULF TERAWULF INC 0.0%

Value $585K Shares 214,371 Est. Cost $4.46 Unrealized 0.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SPY	SPDR S&P 500 ETF TR	2,035,000	$1.138B	35.9%	—	—	Put	78462F103
QQQ	INVESCO QQQ TR	1,525,000	$715M	22.5%	—	—	Put	46090E103
HYG	ISHARES TR	7,325,500	$578M	18.2%	—	—	Put	464288513
—	INDIVIOR PLC	11,366,777	$107M	3.4%	$23.28	—	ORD	G4766E116
ROIV	ROIVANT SCIENCES LTD	10,136,307	$102M	3.2%	$7.00	+54.6%	SHS	G76279101
TLN	TALEN ENERGY CORP	472,275	$94.3M	3.0%	$124.30	+74.5%	COM	87422Q109
CORZ	CORE SCIENTIFIC INC NEW	7,995,574	$57.89M	1.8%	$6.41	+77.6%	COM	21874A106
TLN	TALEN ENERGY CORP	250,000	$49.92M	1.6%	$124.30	+74.5%	Call	87422Q109
—	AVADEL PHARMACEUTICALS PLC	4,946,449	$38.73M	1.2%	$11.75	—	COM SHS	G29687103
SHC	SOTERA HEALTH CO	3,321,136	$38.72M	1.2%	$14.28	-9.9%	COM	83601L102
CLMT	CALUMET INC	2,866,511	$36.35M	1.1%	$18.47	-15.0%	COM	131428104
VST	VISTRA CORP	300,000	$35.23M	1.1%	$86.88	+71.1%	Call	92840M102
ABUS	ARBUTUS BIOPHARMA CORP	9,465,956	$33.04M	1.0%	$2.75	+21.4%	COM	03879J100
IMVT	IMMUNOVANT INC	1,642,772	$28.07M	0.9%	$28.75	-27.2%	COM	45258J102
VST	VISTRA CORP	211,435	$24.83M	0.8%	$86.88	+71.1%	COM	92840M102
GLNG	GOLAR LNG LTD	515,949	$19.6M	0.6%	$38.25	0.0%	SHS	G9456A100
FTAI	FTAI AVIATION LTD	115,663	$12.84M	0.4%	$117.07	0.0%	SHS	G3730V105
ARDX	ARDELYX INC	2,120,337	$10.41M	0.3%	$5.51	-2.5%	COM	039697107
ESPR	ESPERION THERAPEUTICS INC NE	6,930,871	$9.98M	0.3%	$1.74	+6.1%	COM	29664W105
TDAY	GANNETT CO INC	3,437,206	$9.934M	0.3%	$4.35	-3.8%	COM	36472T109
TDAY	GANNETT CO INC	2,814,900	$8.135M	0.3%	$4.35	-3.8%	Call	36472T109
CORZ	CORE SCIENTIFIC INC NEW	836,500	$6.056M	0.2%	$6.41	+77.6%	Call	21874A106
SONO	SONOS INC	431,042	$4.599M	0.1%	$16.85	-22.0%	COM	83570H108
IREN	IREN LIMITED	665,000	$4.05M	0.1%	$10.19	-4.4%	ORDINARY SHARES	Q4982L109
ADAPY	ADAPTIMMUNE THERAPEUTICS PLC	20,529,685	$4.044M	0.1%	$0.44	—	SPONDS ADR	00653A107
NBIS	NEBIUS GROUP N.V.	150,000	$3.167M	0.1%	$32.90	0.0%	SHS CLASS A	N97284108
HUT	HUT 8 CORP	131,808	$1.532M	0.0%	$17.36	+6.4%	COM	44812J104
OMEX	ODYSSEY MARINE EXPL INC	2,549,049	$1.021M	0.0%	$0.70	-26.8%	COM NEW	676118201
CORZW	CORE SCIENTIFIC INC NEW	280,248	$849K	0.0%	$1.33	—	*W EXP 01/23/202	21874A114
WULF	TERAWULF INC	214,371	$585K	0.0%	$4.46	0.0%	COM	88080T104