Elequin Capital, LP Q3 2025 Filing

Filed November 14, 2025

Portfolio Value

$1.8T

Holdings

124

Report Date

Q3 2025

Filing Type

13F-HR

All Holdings (124 positions)

#StockSharesValue% PortfolioType
1
TSLATESLA INC
909,277$404.4B21.92%Put
2147,007,000$290.6B15.75%
3
GOOGLALPHABET INC
800,000$194.5B10.54%Put
4
MSFTMICROSOFT CORP
300,600$155.7B8.44%Put
5
TSMTAIWAN SEMICONDUCTOR MFG LTD
405,000$113.1B6.13%Put
6
AMZNAMAZON COM INC
500,000$109.8B5.95%Put
7
COINCOINBASE GLOBAL INC
311,725$105.2B5.70%Put
8
IBITISHARES BITCOIN TRUST ETF
1,011,683$65.8B3.56%Call
9
NVDANVIDIA CORPORATION
317,177$59.2B3.21%Put
10
FBTCFIDELITY WISE ORIGIN BITCOIN
479,372$47.8B2.59%
11
LLYELI LILLY & CO
60,000$45.8B2.48%Put
12
AVGOBROADCOM INC
100,000$33.0B1.79%Put
13
BITBBITWISE BITCOIN ETF TR
393,733$24.5B1.33%
14
BTCGRAYSCALE BITCOIN MINI TR ET
361,194$18.3B0.99%
15
BRRRCOINSHARES BITCOIN ETF
562,013$18.2B0.98%
16
ARKBARK 21SHARES BITCOIN ETF
361,524$13.7B0.75%
17
JMSTJ P MORGAN EXCHANGE TRADED F
247,201$12.6B0.68%
18
MIGASTRATEGY INC
30,794$9.9B0.54%
19
PZAINVESCO EXCH TRADED FD TR II
400,000$9.2B0.50%
20
VTEBVANGUARD MUN BD FDS
181,145$9.1B0.49%
21
CWBSPDR SERIES TRUST
89,729$8.1B0.44%
22
SMCISUPER MICRO COMPUTER INC
158,074$7.6B0.41%
23
JMUBJ P MORGAN EXCHANGE TRADED F
121,690$6.1B0.33%
24
AMDADVANCED MICRO DEVICES INC
29,450$4.8B0.26%Put
25
SUBISHARES TR
40,790$4.4B0.24%
26
ICVTISHARES TR
41,194$4.1B0.22%
27
JSIJANUS DETROIT STR TR
70,826$3.7B0.20%
28
METAMETA PLATFORMS INC
4,994$3.7B0.20%Put
29
ETHAISHARES ETHEREUM TR
105,018$3.3B0.18%Put
30
HIMUBLACKROCK ETF TRUST II
66,588$3.3B0.18%
31
VCRMVANGUARD MUN BD FDS
41,766$3.1B0.17%
32
PLTRPALANTIR TECHNOLOGIES INC
16,369$3.0B0.16%
33
WT 5.75 08/15/28WISDOMTREE INC
1,801,000$2.9B0.16%
34
BSMYINVESCO EXCH TRD SLF IDX FD
100,000$2.3B0.13%
35
MUNIPIMCO ETF TR
43,725$2.3B0.12%
36500,000$2.1B0.12%
37
VTESVANGUARD WELLINGTON FD
18,697$1.9B0.10%
38
BSMWINVESCO EXCH TRD SLF IDX FD
71,907$1.8B0.10%
39
NYFISHARES TR
28,595$1.5B0.08%
40
SCMBSCHWAB STRATEGIC TR
59,020$1.5B0.08%
41
CALIBLACKROCK ETF TRUST II
29,550$1.5B0.08%
42
MMITNEW YORK LIFE INVTS ACTIVE E
61,038$1.5B0.08%
43
BSMYINVESCO EXCH TRD SLF IDX FD
60,193$1.5B0.08%
44
FMHIFIRST TR EXCH TRADED FD III
30,767$1.5B0.08%
45
GDEWISDOMTREE TR
23,982$1.4B0.07%
46
SHYDVANECK ETF TRUST
58,807$1.3B0.07%
47
IBMSISHARES TR
48,261$1.3B0.07%
48
VTECVANGUARD CALIF TAX FREE FDS
12,275$1.2B0.07%
49
ITMVANECK ETF TRUST
24,193$1.1B0.06%
50
FLMIFRANKLIN TEMPLETON ETF TR
43,243$1.1B0.06%
51
FSMBFIRST TR EXCH TRADED FD III
52,583$1.1B0.06%
52
JMSIJ P MORGAN EXCHANGE TRADED F
19,538$981.2M0.05%
53
CGSMCAPITAL GRP FIXED INCM ETF T
36,627$965.5M0.05%
54
BSMTINVESCO EXCH TRD SLF IDX FD
40,513$935.9M0.05%
55
VSDMVANGUARD MUN BD FDS
11,698$897.2M0.05%
56
GTLS 6.75 12/15/25 BCHART INDS INC
11,800$840.4M0.05%
57
INMUBLACKROCK ETF TRUST II
33,715$807.0M0.04%
58
IWDISHARES TR
3,805$774.7M0.04%
59
BUTIDAL TRUST II
110,509$760.3M0.04%
60
IBMRISHARES TR
29,607$755.9M0.04%
61
JMHIJ P MORGAN EXCHANGE TRADED F
14,369$725.5M0.04%
62
SPYSPDR S&P 500 ETF TR
981$653.5M0.04%
63
MLNVANECK ETF TRUST
37,220$650.6M0.04%
64
MMINNEW YORK LIFE INVTS ACTIVE E
25,106$597.8M0.03%
65
VTELVANGUARD MUN BD FDS
5,249$539.9M0.03%
66
BSSXINVESCO EXCH TRD SLF IDX FD
19,096$487.8M0.03%
67
JBBBJANUS DETROIT STR TR
9,434$454.4M0.02%
68
ARKKARK ETF TR
5,184$447.4M0.02%
69
MINOPIMCO ETF TR
9,657$437.6M0.02%
70
BMNRBITMINE IMMERSION TECNOLOGIE
7,400$384.3M0.02%Put
71
FCVTFIRST TR EXCHANGE-TRADED FD
8,678$371.1M0.02%
72
SMMUPIMCO ETF TR
7,222$365.2M0.02%
73
CLOBVANECK ETF TRUST
7,136$363.8M0.02%
74
XOMEXXON MOBIL CORP
3,000$338.3M0.02%Call
75
FTQIFIRST TR EXCHANGE TRADED FD
14,193$292.4M0.02%
76
HYGHISHARES U S ETF TR
3,346$290.6M0.02%
775,500$286.5M0.02%
78
APO 6.75 07/31/26APOLLO GLOBAL MGMT INC
3,900$275.0M0.01%
79
BSMVINVESCO EXCH TRD SLF IDX FD
12,752$267.9M0.01%
80
NDQINVESCO QQQ TR
397$238.3M0.01%
81
EIS*ISHARES INC
2,330$233.7M0.01%
82
CLOIVANECK ETF TRUST
4,084$216.9M0.01%
83
PWZINVESCO EXCH TRADED FD TR II
8,819$210.9M0.01%
84
ASMLASML HOLDING N V
200$193.6M0.01%Put
85
CGMUCAPITAL GRP FIXED INCM ETF T
6,908$188.5M0.01%
86
FEMBFIRST TR EXCH TRADED FD III
6,086$178.6M0.01%
87
PLTYTIDAL TRUST II
1,962$128.1M0.01%
88
HEFAISHARES TR
2,991$118.5M0.01%
89
HYMBSPDR SERIES TRUST
4,715$117.5M0.01%
90
CVRTCALAMOS ETF TR
2,657$96.5M0.01%
91
HSYHERSHEY CO
500$93.5M0.01%Put
92
PICKISHARES INC
2,074$92.3M0.01%
93
POWRISHARES INC
3,342$83.8M0.00%
94
SHYMBLACKROCK ETF TRUST II
2,718$60.7M0.00%
95
INCMFRANKLIN TEMPLETON ETF TR
2,061$57.2M0.00%
96
CHAUDIREXION SHS ETF TR
2,667$55.2M0.00%
97
BCLOBLACKROCK ETF TRUST II
863$43.3M0.00%
98
EMLCVANECK ETF TRUST
1,202$30.7M0.00%
99
FLOTISHARES TR
541$27.6M0.00%
100
TFISPDR SERIES TRUST
572$26.1M0.00%
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