Two Seas Capital LP holds a focused book of 35 stocks worth $2.2B as of Q1 2026 (disclosed May 15, 2026, a ~45-day 13F lag). This quarter they opened Indivior Pharmaceuticals Inc and trimmed Roivant Sciences Ltd. Their largest long position is Roivant Sciences Ltd at 12% of the equity book. They also disclosed $4.8B in put options (a bearish bet) and $214.0M in call options (bullish), shown separately below and excluded from the equity book. Cloning the disclosed picks since 2022 would be +135% (+21.1%/yr). That is a simulation of the disclosed long book, not audited returns.
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curl -H "Authorization: Bearer YOUR_API_KEY" \ "https://arkolith.com/api/v1/funds/1823138/holdings"
Use Arkolith to show Two Seas Capital LP's latest holdings, largest changes, and filing provenance.
The reported book (valued from quarter-end) returned +163.4%, a 28.3-point gap that is the cost of the ~45-day 13F disclosure lag a real follower can't avoid.
Growth of $10,000 cloning Two Seas Capital LP's disclosed long 13F book, rebalanced on each filing date (so it reflects each quarter's actual reporting lag, ~45 days for the latest filing, with no look-ahead), total-return basis (dividends reinvested), derived from end-of-day prices. “Their reported book” values the same picks from quarter-end, before they were public. S&P 500 is SPY total return over the same window. Excludes shorts, cash, options and non-13F holdings. Not investment advice.
Top-heavy: focused book
Share of the disclosed book in its largest positions. A higher top-5 share means a more concentrated, higher-conviction portfolio.
93% mapped to company sectors
Direct operating-company sectors from our SIC-based security master. ETF/fund and unclassified holdings stay visible separately; this is not ETF look-through exposure.
Estimated $ traded · quarter-end prices, no cost basis
Other tracked managers holding the same core names as Two Seas Capital LP
| Manager / fund | Shared names | Their $ in those |
|---|---|---|
| MORGAN STANLEY | 37 / 35 | $27.2B |
| UBS Group AG | 37 / 35 | $9.2B |
| OSAIC HOLDINGS, INC. | 36 / 35 | $463.4M |
| JPMORGAN CHASE & CO | 35 / 35 | $29.8B |
| GOLDMAN SACHS GROUP INC | 35 / 35 | $14.7B |
| WELLS FARGO & COMPANY/MN | 35 / 35 | $6.0B |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | 35 / 35 | $1.4B |
| Allworth Financial LP | 35 / 35 | $62.1M |
Ranked by how many of Two Seas Capital LP's top 35 disclosed names each fund also holds: a cross-fund conviction signal from the latest 13F of every tracked manager.
Bars show each stock's share of the portfolio. Click a row for its position history.
| # | Security | Value | Shares | % Port | Last move | History |
|---|---|---|---|---|---|---|
| 1 | Roivant Sciences Ltd SHS | $258.4M | 9.33M | 11.9% | ▼−4.7% Reduced · −464K sh | |
| 2 | Core Scientific Inc New COM | $241.6M | 16.15M | 11.2% | ▼−5.0% Reduced · −859K sh | |
| 3 | Calumet Inc COM | $214.0M | 5.96M | 9.9% | ▼−15% Reduced · −1.0M sh | |
| 4 | Talen Energy Corp COM | $184.9M | 579.1K | 8.5% | ▲+48% Added · +187K sh | |
| 5 | Indivior Pharmaceuticals Inc COM | $144.7M | 4.75M | 6.7% | ▲New New position | |
| 6 | Nektar Therapeutics COM NEW | $141.0M | 1.96M | 6.5% | ▲+163% Added · +1.2M sh | |
| 7 | USA Today Co Inc COM | $99.0M | 14.05M | 4.6% | ▼−3.5% Reduced · −507K sh | |
| 8 | Sable Offshore Corp COM SHS | $90.8M | 5.50M | 4.2% | ▲+217% Added · +3.8M sh | |
| 9 | Sotera Health Co COM | $86.4M | 6.02M | 4.0% | ▲+37% Added · +1.6M sh | |
| 10 | Arbutus Biopharma Corp COM | $83.5M | 18.56M | 3.9% | ▲+47% Added · +6.0M sh | |
| 11 | Immunovant Inc COM | $79.5M | 3.20M | 3.7% | ▲+12% Added · +335K sh | |
| 12 | Golar LNG Ltd SHS | $69.0M | 1.27M | 3.2% | ▲+8.8% Added · +104K sh | |
| 13 | Ftai Aviation Ltd SHS | $62.6M | 255.5K | 2.9% | ▲+37% Added · +69K sh | |
| 14 | First Solar Inc COM | $59.8M | 303.0K | 2.8% | ▲+6.6% Added · +19K sh | |
| 15 | Terawulf Inc COM | $58.1M | 4.02M | 2.7% | ▼−11% Reduced · −479K sh | |
| 16 | Echostar Corp CL A | $44.7M | 382.1K | 2.1% | ▼−5.0% Reduced · −20K sh | |
| 17 | Esperion Therapeutics Inc Ne COM | $31.2M | 11.39M | 1.4% | ▼−4.3% Reduced · −508K sh | |
| 18 | Vistra Corp COM | $27.9M | 185.6K | 1.3% | ▼−26% Reduced · −64K sh | |
| 19 | Cipher Digital Inc COM | $26.4M | 2.05M | 1.2% | ▲+570% Added · +1.7M sh | |
| 20 | Uniqure NV SHS | $21.3M | 1.30M | 1.0% | ▲New New position | |
| 21 | Transalta Corp COM | $20.9M | 1.60M | 1.0% | ▲New New position | |
| 22 | Nebius Group N.V. SHS CLASS A | $20.4M | 196.5K | 0.9% | ▼−43% Reduced · −148K sh | |
| 23 | Staar Surgical Co COM PAR $0.01 | $19.4M | 1.04M | 0.9% | ▲New New position | |
| 24 | Bitdeer Technologies Group CL A ORD SHS | $19.2M | 2.22M | 0.9% | ▲New New position | |
| 25 | Sonos Inc COM | $12.3M | 919.3K | 0.6% | ▲+185% Added · +597K sh | |
| 26 | Hut 8 Corp COM | $11.7M | 250.0K | 0.5% | ▼−49% Reduced · −242K sh | |
| 27 | Advisorshares TR PURE US CANNABIS | $11.7M | 3.30M | 0.5% | ▲+1.5% Added · +50K sh | |
| 28 | Sharonai Holdings Inc COM CL A | $9.5M | 416.7K | 0.4% | ▲New New position | |
| 29 | Pavmed Inc COM | $4.7M | 461.5K | 0.2% | ▲New New position | |
| 30 | Odyssey Marine Expl Inc COM NEW | $4.7M | 5.59M | 0.2% | ▲+7.9% Added · +408K sh | |
| 31 | Lucid Diagnostics Inc COM | $3.5M | 3.00M | 0.2% | —Held | |
| 32 | Core Scientific Inc New *W EXP 01/23/202 | $2.5M | 289.5K | 0.1% | —Held | |
| 33 | Darling Ingredients Inc COM | $1.0M | 16.5K | 0.0% | ▲New New position | |
| 34 | Core Scientific Inc New *W EXP 01/23/202 | $362K | 24.1K | 0.0% | —Held | |
| 35 | Fermi Inc COM | $147K | 25.2K | 0.0% | ▲New New position |
Put / call positions from the 13F — totals include every disclosed option leg
| Type | Underlying | Notional value | Underlying shares |
|---|---|---|---|
| PUT · bearish | SS SPDR S&P 500 ETF TRUST-USSPY | $4.2B | 6.5M |
| PUT · bearish | SS SPDR S&P BIOTECH ETFXBI | $246.3M | 1.9M |
| PUT · bearish | APPLE INCAAPL | $215.7M | 850K |
| CALL · bullish | FIRST SOLAR INCFSLR | $90.5M | 459K |
| PUT · bearish | MODERNA INCMRNA | $55.9M | 1.1M |
| CALL · bullish | ECHOSTAR CORP-ASATS | $43.9M | 375K |
| CALL · bullish | CORE SCIENTIFIC INCCORZ | $37.9M | 2.5M |
| PUT · bearish | CORE SCIENTIFIC INCCORZ | $29.9M | 2.0M |
| CALL · bullish | ROIVANT SCIENCES LTDROIV | $20.3M | 732K |
| PUT · bearish | ISHARES BITCOIN TRUST ETFIBIT | $19.2M | 500K |
| CALL · bullish | GOLAR LNG LTDGLNG | $13.5M | 250K |
| CALL · bullish | ADVISORSHARES PURE US CANNMSOS | $7.9M | 2.2M |
13F filers disclose option positions at the market value of the underlying the contracts reference, not the premium paid. A put is a bearish bet (it gains if the stock falls); a call is bullish. “Underlying shares” is the share count the contracts control, not a share holding. These legs are excluded from the equity book, weighting, concentration and sector figures above.
As-of date vs the date the SEC received each filing
| Quarter | As of | Filed | Positions | Value | Form |
|---|---|---|---|---|---|
| Q1 2026 | Mar 31, 2026 | May 15, 2026 | 50 | $7.2B | 13F-HR |
| Q4 2025 | Dec 31, 2025 | Feb 11, 2026 | 42 | $4.9B | 13F-HR |
| Q3 2025 | Sep 30, 2025 | Nov 14, 2025 | 49 | $6.2B | 13F-HR |
| Q2 2025 | Jun 30, 2025 | Aug 13, 2025 | 45 | $6.0B | 13F-HR |
| Q1 2025 | Mar 31, 2025 | May 15, 2025 | 31 | $3.2B | 13F-HR |
| Q4 2024 | Dec 31, 2024 | Feb 18, 2025 | 34 | $1.2B | 13F-HR/A |
| Q3 2024 | Sep 30, 2024 | Nov 14, 2024 | 27 | $617.3M | 13F-HR |
| Q2 2024 | Jun 30, 2024 | Aug 14, 2024 | 21 | $615.3M | 13F-HR |
| Q1 2024 | Mar 31, 2024 | May 15, 2024 | 18 | $510.5M | 13F-HR |
| Q4 2023 | Dec 31, 2023 | Feb 14, 2024 | 13 | $409.5M | 13F-HR |
| Q3 2023 | Sep 30, 2023 | Nov 14, 2023 | 14 | $497.3M | 13F-HR |
| Q2 2023 | Jun 30, 2023 | Aug 14, 2023 | 13 | $457.5M | 13F-HR |
| Q1 2023 | Mar 31, 2023 | May 15, 2023 | 11 | $109.0M | 13F-HR |
| Q4 2022 | Dec 31, 2022 | Feb 14, 2023 | 10 | $105.3M | 13F-HR |
| Q3 2022 | Sep 30, 2022 | Nov 14, 2022 | 12 | $109.5M | 13F-HR |
| Q2 2022 | Jun 30, 2022 | Aug 12, 2022 | 8 | $76.8M | 13F-HR |
| Q1 2022 | Mar 31, 2022 | May 13, 2022 | 12 | $119.4M | 13F-HR |
| Q4 2021 | Dec 31, 2021 | Feb 14, 2022 | 13 | $130.3M | 13F-HR |
Holdings from SEC EDGAR 13F-HR filings, updated quarterly, filed up to 45 days after quarter-end. Public domain. The book and weighting are long equity only; disclosed put/call options are listed separately and excluded from those totals. The performance line is a simulation of the disclosed long book, not an audited return.