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SEC-registered adviser

T•• S••• C•••••• L•

Asset manager (funds and pooled vehicles)Rye, New YorkCRD 310191SEC 801-119993websiteIAPD
Latest filing Mar 31, 2026
First filing on the tape Nov 18, 2020 · 14 filings
SEC status approved since Dec 18, 2020
RAUM
$2.8B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
0.0%
$0 individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
16
7 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
12
reported on Schedule D
History
14 filings and snapshots on the tape
RAUM$2.8B as of Mar 31, 2026
Mar 31, 2021$207M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 31, 2026
Mar 31, 20210 then
Employees (5.A)16 as of Mar 31, 2026
Mar 31, 20216 then
Private funds12 as of Mar 31, 2026
Mar 31, 20215 then
RAUM +92% over the last fiscal year+67% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 31, 2026; every figure names its basis
RAUM per advisor
unknownderivedRAUM over IAPD advisors; not a book size
Clients per advisor
unknownderivedindividual and HNW clients (5.D) over advisors
Average HNW client
unknownderivedHNW RAUM over HNW clients
Average account
$202MderivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
unknownderivedItem 5.A over advisors
Advisors per office
unknownderived1 offices incl. principal (1.F.5)
RAUM growth, one year
+92%derivedbetween the last two annual amendments
Advisor growth, one year
unknownderivedItem 5.B.3 between annual amendments
Client growth, one year
unknownderived
Compensation
percentage of assets, performance-basedreportedItem 5.E
Advisory activities
portfolio management for pooled vehiclesreportedItem 5.G
Custody
yesreportedItem 9.A
Ownership
no PE, bank or public-company owner found on Schedule Aderived
Advisor book size
not public; not estimatedreported
Also answered yes on Form ADV
  • has discretionary authority over which securities are bought or sold (8.C.1)
  • compensates persons for client referrals (8.G.1)
  • compensates non-employees for client referrals (8.G.2)
  • has custody of client cash or bank accounts (9.A.1.a)
  • has custody of client securities (9.A.1.b)
  • a related person has custody of client cash (9.B.1.a)
  • a related person has custody of client securities (9.B.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Pooled investment vehicles$2.8B100%
Individual clients
n/areported
HNW clients
n/areported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
14reported
Financial planning clients
0reported
Wrap fee programs
noreported
Custody of client assets
$0 for 0 clientsreported
Compensation
% of AUM, performancereported
Class basis
private_client_share=0.0 fund_share=1.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
Left, latest
none on the tape
    Joined, latest
    none on the tape
      Every departureEvery arrival
      Private funds
      11 reported on Schedule D 7.B.(1)
      FundTypeGross assetsOwnersFirst reported
      T•• S••• G••••• ••••••• F••• L•Hedge Fund$483M145Mar 31, 2021
      T•• S••• L••••••••• O••••••••• F••• L••Hedge Fund$198M56Jul 20, 2020
      T•• S••• G••••• ••••••••• F••• L•Hedge Fund$143M108Mar 31, 2021
      T•• S••• G••••• ••••••• F••• L•Hedge Fund$134M38Mar 31, 2021
      T•• S••• L•• O••••••••• ••••••• F••• L•Hedge Fund$71.8M82Mar 31, 2023
      T•• S••• L•• O••••••••• ••••••••• F••• L•Hedge Fund$45.5M71Mar 31, 2023
      T•• S••• D••••••• L••••••••• O••••••••• F••• L•• • C•••• 2•no longer reportedHedge Fund$30.0M14Apr 29, 2022
      T•• S••• L•• O••••••••• ••••••• F••• L•Hedge Fund$15.7M9Mar 31, 2023
      T•• S••• D••••••• L••••••••• O••••••••• F••• L•• • C•••• 1•Hedge Fund$2.9M16Nov 18, 2020
      T•• S••• D••••••• L••••••••• O••••••••• F••• L•• • C•••• 4•Hedge Fund$1.5M12Apr 29, 2022
      T•• S••• D••••••• L••••••••• O••••••••• F••• L•• • C•••• 3•Hedge Fund$965,5626Apr 29, 2022
      Owners and control persons
      Schedule A and B, latest filing
      • T•••••• S•••• N•• · Limited Partner / Chief Investment Officercontrol
        since 12/2019 · owns 50% to 75%
      • T•••••• S•••• N•• · Membercontrol
        since 10/2019 · owns 75% or more of T•• S••• C•••••• G• L••
      • B••••••• J•••• P•••••• · Managing Director / Head Trader
        since 03/2021 · owns 5% to 10%
      • C•••••• D••••• S•••• · Managing Director
        since 03/2021 · owns 5% to 10%
      • P••••••• L•••••••• V•••••• · Chief Compliance Officer / Chief Financial Officer / Chief Operating Officer
        since 11/2020 · owns 5% to 10%
      • S••••• H•••••••• D•••• · Managing Director / Head Of Research
        since 03/2021 · owns 10% to 25%
      Entity owners
      • T•• S••• C•••••• G• L•• · General Partner
        direct · owns less than 5%
      Related persons
      Schedule D 7.A
      • P•••••• I••••••••• L••
        pooled vehicle sponsorn
      • T•• S••• G••••• F••• G• L••
        pooled vehicle sponsorn
      • T•• S••• L••••••••• O••••••••• F••• M•••••• L••
        pooled vehicle sponsorn
      • T•• S••• L•• O••••••••• F••• G• L••
        pooled vehicle sponsorn
      Offices
      Schedule D 1.F, the 25 largest
      No branch office listed.
      ADV anomalies
      2 against comparable advisers; where to look, not conclusions
      • private fund count surgeChange between filings · filing Mar 31, 2026
        private funds (Schedule D 7.B.1) moved from 8.0 to 12.0 (+50.0%) between the annual amendments of 2025-03-31 and 2026-03-31; the peer median change was 0.0% (1022 comparable advisers, 93.0th percentile of changes)
        peers: ASSET_M••••••, $1B to $5B (1,022) · 93% percentile
      • RAUM up 50 %Change between filings · filing Mar 31, 2026
        RAUM (Item 5.F) moved from $1,466,152,130 to $2,821,372,428 (+92.0%) between the annual amendments of 2025-03-31 and 2026-03-31; the peer median change was +11.0% (1368 comparable advisers, 93.0th percentile of changes)
        peers: ASSET_M••••••, $1B to $5B (1,368) · 93% percentile
      How anomalies are measured
      What changed
      consecutive filings, newest first
      • Accounts · 8 to 14
        Dec 9, 2025 to Mar 31, 2026
      • Advisory employees · 6 to 7
        Dec 9, 2025 to Mar 31, 2026
      • Pooled vehicle clients · 8 to 14
        Dec 9, 2025 to Mar 31, 2026
      • Employees · 13 to 16
        Dec 9, 2025 to Mar 31, 2026
      • Private funds · 9 to 12
        Dec 9, 2025 to Mar 31, 2026
      • Discretionary RAUM · $1.5B to $2.8B
        Dec 9, 2025 to Mar 31, 2026
      • Pooled vehicle RAUM · $1.5B to $2.8B
        Dec 9, 2025 to Mar 31, 2026
      • RAUM · $1.5B to $2.8B
        Dec 9, 2025 to Mar 31, 2026
      • Financial planning clients · 0 to 0
        Mar 31, 2025 to Nov 24, 2025
      • Private funds · 8 to 9
        Mar 31, 2025 to Nov 24, 2025
      • Accounts · 10 to 8
        Mar 28, 2024 to Mar 31, 2025
      • Advisory employees · 5 to 6
        Mar 28, 2024 to Mar 31, 2025
      • Pooled vehicle clients · 10 to 8
        Mar 28, 2024 to Mar 31, 2025
      • Employees · 10 to 13
        Mar 28, 2024 to Mar 31, 2025
      • Private funds · 10 to 8
        Mar 28, 2024 to Mar 31, 2025
      • Discretionary RAUM · $762M to $1.5B
        Mar 28, 2024 to Mar 31, 2025
      • Pooled vehicle RAUM · $762M to $1.5B
        Mar 28, 2024 to Mar 31, 2025
      • RAUM · $762M to $1.5B
        Mar 28, 2024 to Mar 31, 2025
      • Employees · 9 to 10
        Apr 27, 2023 to Mar 28, 2024
      • Discretionary RAUM · $606M to $762M
        Apr 27, 2023 to Mar 28, 2024
      • Pooled vehicle RAUM · $606M to $762M
        Apr 27, 2023 to Mar 28, 2024
      • RAUM · $606M to $762M
        Apr 27, 2023 to Mar 28, 2024
      • Accounts · 8 to 10
        Apr 29, 2022 to Mar 31, 2023
      • Pooled vehicle clients · 8 to 10
        Apr 29, 2022 to Mar 31, 2023
      • Employees · 8 to 9
        Apr 29, 2022 to Mar 31, 2023
      • Private funds · 8 to 10
        Apr 29, 2022 to Mar 31, 2023
      • Discretionary RAUM · $454M to $606M
        Apr 29, 2022 to Mar 31, 2023
      • Pooled vehicle RAUM · $454M to $606M
        Apr 29, 2022 to Mar 31, 2023
      • RAUM · $454M to $606M
        Apr 29, 2022 to Mar 31, 2023
      • Accounts · 5 to 8
        Apr 19, 2022 to Apr 29, 2022
      • Pooled vehicle clients · 5 to 8
        Apr 19, 2022 to Apr 29, 2022
      • Private funds · 5 to 8
        Apr 19, 2022 to Apr 29, 2022
      • Employees · 6 to 8
        Mar 31, 2021 to Mar 31, 2022
      • Discretionary RAUM · $207M to $454M
        Mar 31, 2021 to Mar 31, 2022
      • Pooled vehicle RAUM · $207M to $454M
        Mar 31, 2021 to Mar 31, 2022
      • RAUM · $207M to $454M
        Mar 31, 2021 to Mar 31, 2022
      • Accounts · 2 to 5
        Jan 5, 2021 to Mar 31, 2021
      • Advisory employees · 2 to 5
        Jan 5, 2021 to Mar 31, 2021
      • Business name · K••••• C•••••• M••••••••• L• to T•• S••• C•••••• L•
        Jan 5, 2021 to Mar 31, 2021
      • Pooled vehicle clients · 2 to 5
        Jan 5, 2021 to Mar 31, 2021
      Signals
      7 dated events
      • T•• S••• C•••••• L• reported RAUM $2.8B, up 92% from $1.5B (2025-12-09 to 2026-03-31)
        Mar 31, 2026 · RAUM change · derived
      • T•• S••• C•••••• L• reported RAUM $1.5B, up 92% from $762.4M (2024-03-28 to 2025-03-31)
        Mar 31, 2025 · RAUM change · derived
      • T•• S••• C•••••• L• reported RAUM $762.4M, up 26% from $605.7M (2023-04-27 to 2024-03-28)
        Mar 28, 2024 · RAUM change · derived
      • T•• S••• C•••••• L• reported RAUM $605.7M, up 34% from $453.5M (2022-04-29 to 2023-03-31)
        Mar 31, 2023 · RAUM change · derived
      • T•• S••• C•••••• L• reported RAUM $453.5M, up 119% from $207.2M (2021-03-31 to 2022-03-31)
        Mar 31, 2022 · RAUM change · derived
      • T•• S••• C•••••• L• reported RAUM $207.2M, up 154% from $81.5M (2021-01-05 to 2021-03-31)
        Mar 31, 2021 · RAUM change · derived
      • K••••• C•••••• M••••••••• L• filed its initial SEC registration (Form ADV)
        Nov 18, 2020 · First SEC registration · fact
      Across DFX
      shared identifiers only, never a name match
      How to reach
      public business contact points only, each with its source
      Firm profile
      linkedin.com/company/two-seas-capital-lpreportedpublic record, Form ADV, Sep 21, 2026
      Website
      t•••••••••.comreportedpublic record, Form ADV, Sep 21, 2026
      Principal office phone
      914-690-8253reportedpublic record, Form ADV, Mar 31, 2026
      Provenance
      Form ADV
      SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
      Advisors
      IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
      Class
      Asset manager (funds and pooled vehicles)deriveda rule over Items 5.D and 7.A
      RAUM per advisor
      n/aderivedfirm RAUM over the IAPD count; not a book size
      Loaded
      Sep 14, 2026