An ocean wave energy converter (WEC) uses one or more buoyant elongated float(s) mechanically linked to a motion-stabilized frame by either swing or lever arms or down-sloping tracks that define the motion of the floats relative to the frame to capture both heave and surge wave energy forces. The submerged depth of the frame and attached float(s) is adjusted for optimal wave energy capture or submerged sufficiently to fully submerge the float(s) during severe sea conditions. The elongated float's total submergence during severe sea states and the WEC's self-orienting capability, parallel to oncoming wave fronts, allows the WEC to intercept and capture maximum wave energy per unit of WEC volume, weight and cost.