Two Seas Capital LP reported 32 positions worth $2.51B for the quarter ended Sep 30, 2026, down 4.1% on the prior quarter. It opened 2 new positions, added to 18, trimmed 7 and exited 5. Its largest holding is Calumet, Inc. at 11% of the portfolio.
Reported 13F market value at each quarter end. A change mixes trading with price moves in the positions held.
Dollar value of shares bought and sold each quarter, at that quarter’s price. It counts trading only, not price changes.
How many positions were opened, added to, trimmed or closed each quarter.
Share of reported value in each sector at every quarter end.
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| SEI Solaris Energy Infrastructure, Inc. | +786.8K | – | $56.01M | 2.23% |
| IMVT Immunovant, Inc. | +1.46M | +46.5% | $49.46M | 6.21% |
| FSLR First Solar, Inc. | +250.0K | +195.3% | $43.79M | 2.64% |
| ABVX Abivax S.A. | +432.0K | +176.6% | $42.78M | 2.67% |
| CORZ Core Scientific, Inc. | +2.40M | +26.6% | $38.31M | 7.28% |
| CIFR Cipher Digital Inc. | +2.31M | +113.5% | $36.63M | 2.75% |
| SHAZ SharonAI Holdings Inc. | +652.1K | +50.4% | $35.61M | 4.24% |
| SOC Sable Offshore Corp. | +8.72M | +104.1% | $30.19M | 2.36% |
| HUT Hut 8 Corp. | +189.9K | +120.1% | $16.35M | 1.19% |
| NKTR Nektar Therapeutics | +253.7K | +8.2% | $15.36M | 8.08% |
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| CLMT Calumet, Inc. | -1.34M | -20.2% | $70.14M | 11.03% |
| ABUS Arbutus Biopharma Corp | -10.95M | -57.4% | $52.35M | 1.55% |
| ROIV Roivant Sciences Ltd. | -1.15M | -13.6% | $42.06M | 10.68% |
| QMCO Quantum Corp | -997.5K | -40.1% | $31.64M | 1.89% |
| DAR Darling Ingredients Inc. | -516.5K | -100.0% | $28.21M | Exited |
| BTDR Bitdeer Technologies Group | -1.50M | -100.0% | $23.81M | Exited |
| CRWV CoreWeave, Inc. | -153.1K | -100.0% | $15.24M | Exited |
| SONO Sonos Inc | -710.6K | -100.0% | $9.61M | Exited |
| VST Vistra Corp. | -51.8K | -12.0% | $7.16M | 2.09% |
| IREN IREN Ltd | -140.0K | -100.0% | $6.40M | Exited |
| # | Activity | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | CLMT Calumet, Inc. | Basic Materials | 5.28M | $276.60M | 11.03% | -1.34M | -20.2% | Reduced | 6.01% |
| 2 | ROIV Roivant Sciences Ltd. | Healthcare | 7.33M | $267.89M | 10.68% | -1.15M | -13.6% | Reduced | 1.01% |
| 3 | NKTR Nektar Therapeutics | Healthcare | 3.35M | $202.58M | 8.08% | +253.7K | +8.2% | Added | 10.12% |
| 4 | CORZ Core Scientific, Inc. | Technology | 11.43M | $182.59M | 7.28% | +2.40M | +26.6% | Added | 3.51% |
| 5 | TLN Talen Energy Corp | Utilities | 535.5K | $167.44M | 6.68% | +28.3K | +5.6% | Added | 1.12% |
| 6 | IMVT Immunovant, Inc. | Healthcare | 4.61M | $155.82M | 6.21% | +1.46M | +46.5% | Added | 2.24% |
| 7 | INDV Indivior Pharmaceuticals, Inc. | Healthcare | 3.67M | $131.61M | 5.25% | +191.6K | +5.5% | Added | 3.08% |
| 8 | SHC Sotera Health Co | Healthcare | 6.11M | $112.99M | 4.51% | +275.0K | +4.7% | Added | 2.14% |
| 9 | SHAZ SharonAI Holdings Inc. | Technology | 1.95M | $106.24M | 4.24% | +652.1K | +50.4% | Added | 5.43% |
| 10 | TDAY USA TODAY Co., Inc. | Communication Services | 14.50M | $91.23M | 3.64% | +434.4K | +3.1% | Added | 9.88% |
| 11 | CIFR Cipher Digital Inc. | Technology | 4.35M | $68.91M | 2.75% | +2.31M | +113.5% | Added | 1.05% |
| 12 | ABVX Abivax S.A. | Healthcare | 676.6K | $67.00M | 2.67% | +432.0K | +176.6% | Added | 0.97% |
| 13 | FSLR First Solar, Inc. | Industrials | 378.0K | $66.21M | 2.64% | +250.0K | +195.3% | Added | 0.35% |
| 14 | SOC Sable Offshore Corp. | Energy | 17.10M | $59.17M | 2.36% | +8.72M | +104.1% | Added | 11.14% |
| 15 | GLNG Golar Lng Ltd | Energy | 1.20M | $57.06M | 2.28% | -21.1K | -1.7% | Reduced | 1.16% |
Tip. Select a row to see that position’s full history at Two Seas Capital.
As of its Q3 2026 13F filing, Two Seas Capital LP’s five largest positions were Calumet, Inc. (CLMT) at 11.0%, Roivant Sciences Ltd. (ROIV) at 10.7%, Nektar Therapeutics (NKTR) at 8.1%, Core Scientific, Inc. (CORZ) at 7.3%, Talen Energy Corp (TLN) at 6.7% of the reported portfolio.
Two Seas Capital LP reported a 13F portfolio worth $2.51B across 32 positions for Q3 2026. That is down 4.1% from the previous quarter.
Its largest purchases by value were Solaris Energy Infrastructure, Inc. ($56.01M), Immunovant, Inc. ($49.46M), First Solar, Inc. ($43.79M). It opened 2 new positions.
Its largest sales by value were Calumet, Inc. ($70.14M), Arbutus Biopharma Corp ($52.35M), Roivant Sciences Ltd. ($42.06M). It exited 5 positions entirely.
From the Form 13F-HR reports Two Seas Capital LP files with the SEC each quarter, within 45 days of quarter end. A 13F lists long positions in US-listed equities and options; it excludes short positions, cash, bonds and most non-US holdings.
13F data reflects long positions in US-listed equities and options as reported to the SEC up to 45 days after quarter end. It excludes short positions, cash, bonds and most non-US securities, so it is not a complete picture of a manager’s assets.