Data as of Q4 2025 (Dec 31, 2025)

Seascape Capital Management

CIK: 1418342Filing: Q4 2025

**Seascape Capital Management** manages $352M across a diversified portfolio of 91 positions. The fund exhibits significant concentration in key sectors, with its top three holdings—FTCB ($30.4M), DBND ($29.9M), and EMXC ($23.4M)—representing a substantial portion of its disclosed assets. Notable allocations also include large positions in technology and fixed income, such as GOOGL ($8.7M) and GOVT ($11.4M). This structure suggests a tactical approach balancing sector bets with defensive fixed-income exposure.

Total AUM
$351.8M
QoQ Performance
+0.9%
Positions
70
Top 10 Concentration
41.2%
Latest Filing
Q4 2025

Top Holdings Allocation

FTCB
DBND
EMXC
FTCB8.6%
DBND8.5%
EMXC6.6%
GOVT3.2%
APP2.5%
GOOGL2.5%
NRA2.3%
NVDA2.3%

📈 Biggest Buys

FEMB
FIRST TR EXCH TRADED FD III
NEW
1.9% of portfolio
MSFT
MICROSOFT CORP
+127.0%
1.2% of portfolio
FTCB
FIRST TR EXCHANGE-TRADED FD
+7.8%
8.6% of portfolio
EMXC
ISHARES INC
+6.4%
6.6% of portfolio
DMX
DOUBLELINE ETF TRUST
+21.6%
2.1% of portfolio

📉 Biggest Sells

APP
APPLOVIN CORP
-16.0%
2.5% of portfolio
NRA
NRG ENERGY INC
-12.1%
2.3% of portfolio
AVGO
BROADCOM INC
-25.0%
0.9% of portfolio
GOOGL
ALPHABET INC
-8.3%
2.5% of portfolio
CAT
CATERPILLAR INC
-7.4%
2.1% of portfolio

Sector Breakdown

Other72.1%
Technology12.7%
Financial5.5%
Industrial3.5%
Healthcare2.5%
Consumer2.2%
Materials0.9%
ETF0.5%

🚪 Exited Positionssold since Q3 2025

IBDW
ISHARES TR
SOLD
$5.5M
V
VISA INC
SOLD
$5.5M
ROP
ROPER TECHNOLOGIES INC
SOLD
$2.5M
ADBE
ADOBE INC
SOLD
$2.0M
ORCL
ORACLE CORP
SOLD
$262.0K
+4 more exited positions

Changes from Q3 2025

NEW4 new positions
41 increased
38 decreased

Historical Filings

Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023