Elequin Capital, LP Q2 2025 Filing

Filed August 11, 2025

Portfolio Value

$763.9B

Holdings

336

Report Date

Q2 2025

Filing Type

13F-HR

All Holdings (336 positions)

#StockSharesValue% PortfolioType
1
NRG 2.75 06/01/48NRG ENERGY INC
49,192,000$192.6B25.21%
2
IBITISHARES BITCOIN TRUST ETF
1,255,682$76.9B10.06%
3
CNK 4.5 08/15/25CINEMARK HLDGS INC
35,000,000$74.3B9.72%
4
NEE 6.926 09/01/25NEXTERA ENERGY INC
1,134,000$45.0B5.90%
529,597,000$41.7B5.46%
6
FBTCFIDELITY WISE ORIGIN BITCOIN
390,010$36.7B4.80%
7
RCL 6 08/15/25ROYAL CARIBBEAN GROUP
5,381,000$34.0B4.45%
8
VRNS 1.25 08/15/25VARONIS SYS INC
12,648,000$20.9B2.74%
9
FETHFIDELITY ETHEREUM FD
793,745$20.0B2.62%
10
ETHAISHARES ETHEREUM TR
712,497$13.6B1.78%
11
ETHGRAYSCALE ETHEREUM MINI TR E
539,978$12.8B1.68%
12
ARKBARK 21SHARES BITCOIN ETF
280,830$10.1B1.32%
13
ETHWBITWISE ETHEREUM ETF
462,025$8.3B1.09%
14
TSLATESLA INC
23,860$7.6B0.99%
15
CWBSPDR SERIES TRUST
86,501$7.2B0.94%
16
BTCGRAYSCALE BITCOIN MINI TR ET
135,924$6.5B0.85%
17
GOOGLALPHABET INC
35,442$6.2B0.82%Put
18
MIGAMICROSTRATEGY INC
13,111$5.3B0.69%
19
SMCISUPER MICRO COMPUTER INC
100,795$4.9B0.65%
20
JMSTJ P MORGAN EXCHANGE TRADED F
88,004$4.5B0.59%
21
METAMETA PLATFORMS INC
5,870$4.3B0.57%Put
22
PLTRPALANTIR TECHNOLOGIES INC
30,579$4.2B0.55%Put
23
ETHUVOLATILITY SHS TR
65,000$3.7B0.48%Put
24
VSDMVANGUARD MUN BD FDS
39,920$3.0B0.40%
25
INVA 2.5 08/15/25INNOVIVA INC
2,500,000$2.9B0.39%
26
AMDADVANCED MICRO DEVICES INC
20,546$2.9B0.38%Put
27
FTHIFIRST TR EXCHANGE TRADED FD
126,702$2.9B0.38%
28
AMZNAMAZON COM INC
12,500$2.7B0.36%Put
29
BSMYINVESCO EXCH TRD SLF IDX FD
113,360$2.7B0.35%
30
INCMFRANKLIN TEMPLETON ETF TR
93,095$2.5B0.33%
31
SCMBSCHWAB STRATEGIC TR
100,000$2.5B0.33%
32
MUBISHARES TR
23,425$2.4B0.32%
33
CALIBLACKROCK ETF TRUST II
47,570$2.4B0.31%
34
CLOXSERIES PORTFOLIOS TR
91,199$2.3B0.31%
35
BRRRCOINSHARES VALKYRIE BITCOIN
76,538$2.3B0.31%
36
PYLDPIMCO ETF TR
87,532$2.3B0.30%
37
SMMUPIMCO ETF TR
45,444$2.3B0.30%
38
PANWPALO ALTO NETWORKS INC
11,000$2.3B0.29%Put
39
VTESVANGUARD WELLINGTON FD
21,743$2.2B0.29%
40
BITBBITWISE BITCOIN ETF TR
37,045$2.2B0.28%
41
NDQINVESCO QQQ TR
3,788$2.1B0.27%
42
BSMRINVESCO EXCH TRD SLF IDX FD
89,011$2.1B0.27%
43
TSMTAIWAN SEMICONDUCTOR MFG LTD
8,108$1.8B0.24%Put
44
PHYS/USPROTT PHYSICAL GOLD TR
71,543$1.8B0.24%
45
SHYMBLACKROCK ETF TRUST II
76,652$1.7B0.22%
46
VCRMVANGUARD MUN BD FDS
22,545$1.7B0.22%
47
UBERUBER TECHNOLOGIES INC
17,500$1.6B0.21%Put
48
FCALFIRST TR EXCH TRADED FD III
32,962$1.6B0.21%
49
DFGXDIMENSIONAL ETF TRUST
29,464$1.6B0.21%
50
NVDANVIDIA CORPORATION
9,535$1.5B0.20%Call
51
AMATAPPLIED MATLS INC
8,000$1.5B0.19%Call
52
COINCOINBASE GLOBAL INC
4,047$1.4B0.19%
53
VTEBVANGUARD MUN BD FDS
27,808$1.4B0.18%
54
CGMUCAPITAL GRP FIXED INCM ETF T
49,034$1.3B0.17%
55
FCVTFIRST TR EXCHANGE-TRADED FD
32,059$1.2B0.16%
56
SLVISHARES SILVER TR
37,210$1.2B0.16%
57
XOMEXXON MOBIL CORP
11,000$1.2B0.16%Call
58
FCXFREEPORT-MCMORAN INC
23,882$1.0B0.14%Put
59
BSMUINVESCO EXCH TRD SLF IDX FD
47,654$1.0B0.13%
60
HEFAISHARES TR
26,891$1.0B0.13%
61
IBMSISHARES TR
39,691$1.0B0.13%
62
SLBSCHLUMBERGER LTD
28,919$977.5M0.13%Put
63
PYPLPAYPAL HLDGS INC
13,019$967.6M0.13%Put
64
MMINNEW YORK LIFE INVTS ACTIVE E
40,000$932.4M0.12%
65
CATCATERPILLAR INC
2,387$926.7M0.12%Put
66
HYGHISHARES U S ETF TR
10,667$923.0M0.12%
67
SNOWSNOWFLAKE INC
3,700$827.9M0.11%Call
68
BKLNINVESCO EXCH TRADED FD TR II
38,645$808.5M0.11%
69
SPYSPDR S&P 500 ETF TR
1,272$785.9M0.10%
70
CGHMCAPITAL GRP FIXED INCM ETF T
31,656$779.8M0.10%
71
BMAXETF OPPORTUNITIES TRUST
26,160$777.0M0.10%
72
SHYDVANECK ETF TRUST
31,872$720.0M0.09%
73
MSFTMICROSOFT CORP
1,400$696.4M0.09%Put
74
CVNACARVANA CO
2,000$673.9M0.09%Call
75
SBUXSTARBUCKS CORP
7,276$666.7M0.09%Call
76
MMITNEW YORK LIFE INVTS ACTIVE E
27,641$659.2M0.09%
77
TLTISHARES TR
7,345$648.2M0.08%
78
BSMQINVESCO EXCH TRD SLF IDX FD
27,234$641.6M0.08%
79
VRPINVESCO EXCH TRADED FD TR II
25,952$634.5M0.08%
80
XLUSELECT SECTOR SPDR TR
7,716$630.1M0.08%
81
HYGISHARES TR
7,777$627.2M0.08%
82
MNSTMONSTER BEVERAGE CORP NEW
10,000$626.4M0.08%Call
83
BMEZBLACKROCK HEALTH SCIENCES TE
45,072$612.6M0.08%
84
PGPROCTER AND GAMBLE CO
3,776$601.6M0.08%Put
85
CVRTCALAMOS ETF TR
18,630$597.3M0.08%
86
DASHDOORDASH INC
2,418$596.1M0.08%Put
87
MINOPIMCO ETF TR
12,483$552.1M0.07%
88
FBCGFIDELITY COVINGTON TRUST
11,145$537.6M0.07%
89
XEXGXEATON VANCE TAX-MANAGED GLOB
61,257$536.0M0.07%
90
OXYOCCIDENTAL PETE CORP
12,520$526.0M0.07%Put
91
NZFNUVEEN MUNICIPAL CREDIT INC
42,314$504.4M0.07%
92
BSTBLACKROCK SCIENCE & TECHNOLO
13,024$497.1M0.07%
93
HYTBLACKROCK CORPOR HI YLD FD I
50,918$496.5M0.06%
94
ECATBLACKROCK ESG CAP ALLC TERM
30,360$487.6M0.06%
95
DSLDOUBLELINE INCOME SOLUTIONS
39,816$487.3M0.06%
96
TRVCCITIGROUP INC
5,690$484.3M0.06%Put
97
UPSUNITED PARCEL SERVICE INC
4,732$477.6M0.06%
98
FSMBFIRST TR EXCH TRADED FD III
23,928$476.3M0.06%
99
CLOBVANECK ETF TRUST
8,789$446.7M0.06%
100
RVTROYCE SMALL CAP TRUST INC
29,323$441.3M0.06%
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