Q3 2025 · 13F-HR
Elequin Capital, LPholdings as filed
Filed 2025-11-14 · accession 0001420506-25-003395
$1.84B
Reported value
143
Positions
2025-09-30
Period end
The Brief · Elequin Capital, LP · Q3 2025
AI · grounded in 13F
Elequin Capital, LP established a new position in TSLA valued at $404.4M. The fund also initiated new holdings in SEA LTD [[stock:SEALTD 2.375 12/01/25]] for $290.6M and GOOGL for $194.5M. Additional new positions include MSFT at $155.7M and TSM at $113.1M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 81141RAF7 | SEALTD 2.375 12/01/25 | SEA LTD | $290.6M | 15.8% | 147,007,000 | Common | NONE |
| 88160R101 | TSLA | TESLA INC | $204.2M | 11.1% | 459,277 | Common | SOLE |
| 88160R101 | TSLA | TESLA INC | $200.1M | 10.8% | 450,000 | PUT | SOLE |
| 02079K305 | GOOGL | ALPHABET INC | $97.2M | 5.27% | 400,000 | PUT | SOLE |
| 594918104 | MSFT | MICROSOFT CORP | $77.7M | 4.21% | 150,000 | PUT | SOLE |
| 594918104 | MSFT | MICROSOFT CORP | $77.7M | 4.21% | 150,000 | Common | SOLE |
| 874039100 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | $56.6M | 3.07% | 202,500 | PUT | SOLE |
| 874039100 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | $56.6M | 3.07% | 202,500 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INC | $54.9M | 2.98% | 250,000 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INC | $54.9M | 2.98% | 250,000 | PUT | SOLE |
| 19260Q107 | COIN | COINBASE GLOBAL INC | $54.6M | 2.96% | 161,725 | Common | SOLE |
| 46438F101 | IBIT | ISHARES BITCOIN TRUST ETF | $54.1M | 2.93% | 831,683 | Common | SOLE |
| 19260Q107 | COIN | COINBASE GLOBAL INC | $50.6M | 2.74% | 150,000 | PUT | SOLE |
| 02079K305 | GOOGL | ALPHABET INC | $48.6M | 2.64% | 200,000 | Common | SOLE |
| 02079K305 | GOOGL | ALPHABET INC | $48.6M | 2.64% | 200,000 | CALL | SOLE |
| 315948109 | FBTC | FIDELITY WISE ORIGIN BITCOIN | $47.8M | 2.59% | 479,372 | Common | SOLE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $31.2M | 1.69% | 167,177 | Common | SOLE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $28.0M | 1.52% | 150,000 | PUT | SOLE |
| 09174C104 | BITB | BITWISE BITCOIN ETF TR | $24.5M | 1.33% | 393,733 | Common | SOLE |
| 532457108 | LLY | ELI LILLY & CO | $22.9M | 1.24% | 30,000 | PUT | SOLE |
| 532457108 | LLY | ELI LILLY & CO | $22.9M | 1.24% | 30,000 | Common | SOLE |
| 389930207 | BTC | GRAYSCALE BITCOIN MINI TR ET | $18.3M | 0.99% | 361,194 | Common | SOLE |
| 91916J100 | BRRR | COINSHARES BITCOIN ETF | $18.2M | 0.98% | 562,013 | Common | SOLE |
| 11135F101 | AVGO | BROADCOM INC | $16.5M | 0.89% | 50,000 | Common | SOLE |
| 11135F101 | AVGO | BROADCOM INC | $16.5M | 0.89% | 50,000 | PUT | SOLE |
| 040919102 | ARKB | ARK 21SHARES BITCOIN ETF | $13.7M | 0.75% | 361,524 | Common | SOLE |
| 46641Q654 | JMST | J P MORGAN EXCHANGE TRADED F | $12.6M | 0.68% | 247,201 | Common | SOLE |
| 46438F101 | IBIT | ISHARES BITCOIN TRUST ETF | $11.7M | 0.63% | 180,000 | CALL | SOLE |
| 594972408 | MSTR | STRATEGY INC | $9.9M | 0.54% | 30,794 | Common | SOLE |
| 46138E537 | PZA | INVESCO EXCH TRADED FD TR II | $9.2M | 0.50% | 400,000 | Common | SOLE |
| 922907746 | VTEB | VANGUARD MUN BD FDS | $9.1M | 0.49% | 181,145 | Common | SOLE |
| 78464A359 | CWB | SPDR SERIES TRUST | $8.1M | 0.44% | 89,729 | Common | SOLE |
| 86800U302 | SMCI | SUPER MICRO COMPUTER INC | $7.6M | 0.41% | 158,074 | Common | SOLE |
| 46641Q647 | JMUB | J P MORGAN EXCHANGE TRADED F | $6.1M | 0.33% | 121,690 | Common | SOLE |
| 464288158 | SUB | ISHARES TR | $4.4M | 0.24% | 40,790 | Common | SOLE |
| 46435G102 | ICVT | ISHARES TR | $4.1M | 0.22% | 41,194 | Common | SOLE |
| 47103U746 | JSI | JANUS DETROIT STR TR | $3.7M | 0.20% | 70,826 | Common | SOLE |
| 007903107 | AMD | ADVANCED MICRO DEVICES INC | $3.5M | 0.19% | 21,450 | Common | SOLE |
| 092528843 | HIMU | BLACKROCK ETF TRUST II | $3.3M | 0.18% | 66,588 | Common | SOLE |
| 922907712 | VCRM | VANGUARD MUN BD FDS | $3.1M | 0.17% | 41,766 | Common | SOLE |
| 69608A108 | PLTR | PALANTIR TECHNOLOGIES INC | $3.0M | 0.16% | 16,369 | Common | SOLE |
| 97717PAF1 | WT | WISDOMTREE INC | $2.9M | 0.16% | 1,801,000 | Common | NONE |
| 46138J486 | BSMS | INVESCO EXCH TRD SLF IDX FD | $2.3M | 0.13% | 100,000 | Common | SOLE |
| 72201R866 | MUNI | PIMCO ETF TR | $2.3M | 0.12% | 43,725 | Common | SOLE |
| 66980MAB2 | NVMI 0 10/15/25 | NOVA LTD | $2.1M | 0.12% | 500,000 | Common | NONE |
| 921935870 | VTES | VANGUARD WELLINGTON FD | $1.9M | 0.10% | 18,697 | Common | SOLE |
| 46438R105 | ETHA | ISHARES ETHEREUM TR | $1.9M | 0.10% | 60,000 | PUT | SOLE |
| 30303M102 | META | META PLATFORMS INC | $1.8M | 0.10% | 2,500 | PUT | SOLE |
| 46139W833 | BSMW | INVESCO EXCH TRD SLF IDX FD | $1.8M | 0.10% | 71,907 | Common | SOLE |
| 464288323 | NYF | ISHARES TR | $1.5M | 0.08% | 28,595 | Common | SOLE |
| 808524649 | SCMB | SCHWAB STRATEGIC TR | $1.5M | 0.08% | 59,020 | Common | SOLE |
| 092528884 | CALI | BLACKROCK ETF TRUST II | $1.5M | 0.08% | 29,550 | Common | SOLE |
| 45409F827 | MMIT | NEW YORK LIFE INVTS ACTIVE E | $1.5M | 0.08% | 61,038 | Common | SOLE |
| 46139W767 | BSMY | INVESCO EXCH TRD SLF IDX FD | $1.5M | 0.08% | 60,193 | Common | SOLE |
| 33739P301 | FMHI | FIRST TR EXCH TRADED FD III | $1.5M | 0.08% | 30,767 | Common | SOLE |
| 97717Y568 | GDE | WISDOMTREE TR | $1.4M | 0.07% | 23,982 | Common | SOLE |
| 92189F387 | SHYD | VANECK ETF TRUST | $1.3M | 0.07% | 58,807 | Common | SOLE |
| 46438G687 | IBMS | ISHARES TR | $1.3M | 0.07% | 48,261 | Common | SOLE |
| 922021605 | VTEC | VANGUARD CALIF TAX FREE FDS | $1.2M | 0.07% | 12,275 | Common | SOLE |
| 92189H201 | ITM | VANECK ETF TRUST | $1.1M | 0.06% | 24,193 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INC | $1.1M | 0.06% | 1,500 | CALL | SOLE |
| 35473P868 | FLMI | FRANKLIN TEMPLETON ETF TR | $1.1M | 0.06% | 43,243 | Common | SOLE |
| 33739P830 | FSMB | FIRST TR EXCH TRADED FD III | $1.1M | 0.06% | 52,583 | Common | SOLE |
| 46654Q815 | JMSI | J P MORGAN EXCHANGE TRADED F | $981,198 | 0.05% | 19,538 | Common | SOLE |
| 007903107 | AMD | ADVANCED MICRO DEVICES INC | $970,740 | 0.05% | 6,000 | PUT | SOLE |
| 14020Y607 | CGSM | CAPITAL GRP FIXED INCM ETF T | $965,488 | 0.05% | 36,627 | Common | SOLE |
| 46438R105 | ETHA | ISHARES ETHEREUM TR | $945,300 | 0.05% | 30,000 | CALL | SOLE |
| 46138J478 | BSMT | INVESCO EXCH TRD SLF IDX FD | $935,850 | 0.05% | 40,513 | Common | SOLE |
| 922907696 | VSDM | VANGUARD MUN BD FDS | $897,237 | 0.05% | 11,698 | Common | SOLE |
| 16115Q407 | GTLS 6.75 12/15/25 B | CHART INDS INC | $840,361 | 0.05% | 11,800 | Common | SOLE |
| 092528207 | INMU | BLACKROCK ETF TRUST II | $806,969 | 0.04% | 33,715 | Common | SOLE |
| 464287598 | IWD | ISHARES TR | $774,660 | 0.04% | 3,805 | Common | SOLE |
| 88634T824 | — | TIDAL TRUST II | $760,302 | 0.04% | 110,509 | Common | SOLE |
| 46436E163 | IBMR | ISHARES TR | $755,867 | 0.04% | 29,607 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INC | $729,974 | 0.04% | 994 | Common | SOLE |
| 46654Q799 | JMHI | J P MORGAN EXCHANGE TRADED F | $725,491 | 0.04% | 14,369 | Common | SOLE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $653,523 | 0.04% | 981 | Common | SOLE |
| 92189F536 | MLN | VANECK ETF TRUST | $650,606 | 0.04% | 37,220 | Common | SOLE |
| 45409F843 | MMIN | NEW YORK LIFE INVTS ACTIVE E | $597,774 | 0.03% | 25,106 | Common | SOLE |
| 922907688 | VTEL | VANGUARD MUN BD FDS | $539,860 | 0.03% | 5,249 | Common | SOLE |
| 46139W791 | BSSX | INVESCO EXCH TRD SLF IDX FD | $487,807 | 0.03% | 19,096 | Common | SOLE |
| 46438R105 | ETHA | ISHARES ETHEREUM TR | $473,217 | 0.03% | 15,018 | Common | SOLE |
| 47103U753 | JBBB | JANUS DETROIT STR TR | $454,436 | 0.02% | 9,434 | Common | SOLE |
| 00214Q104 | ARKK | ARK ETF TR | $447,379 | 0.02% | 5,184 | Common | SOLE |
| 72201R635 | MINO | PIMCO ETF TR | $437,559 | 0.02% | 9,657 | Common | SOLE |
| 09175A206 | BMNR | BITMINE IMMERSION TECNOLOGIE | $384,282 | 0.02% | 7,400 | PUT | SOLE |
| 33739Q507 | FCVT | FIRST TR EXCHANGE-TRADED FD | $371,137 | 0.02% | 8,678 | Common | SOLE |
| 72201R874 | SMMU | PIMCO ETF TR | $365,217 | 0.02% | 7,222 | Common | SOLE |
| 92189H656 | CLOB | VANECK ETF TRUST | $363,841 | 0.02% | 7,136 | Common | SOLE |
| 30231G102 | XOM | EXXON MOBIL CORP | $338,250 | 0.02% | 3,000 | CALL | SOLE |
| 007903107 | AMD | ADVANCED MICRO DEVICES INC | $323,580 | 0.02% | 2,000 | CALL | SOLE |
| 594918104 | MSFT | MICROSOFT CORP | $310,770 | 0.02% | 600 | CALL | SOLE |
| 33738R407 | FTQI | FIRST TR EXCHANGE TRADED FD | $292,376 | 0.02% | 14,193 | Common | SOLE |
| 46431W606 | HYGH | ISHARES U S ETF TR | $290,567 | 0.02% | 3,346 | Common | SOLE |
| 48251W500 | KKR 6.25 03/01/28 D | KKR & CO INC | $286,523 | 0.02% | 5,500 | Common | SOLE |
| 03769M304 | APO 6.75 07/31/26 | APOLLO GLOBAL MGMT INC | $274,966 | 0.01% | 3,900 | Common | SOLE |
| 46138J411 | BSMV | INVESCO EXCH TRD SLF IDX FD | $267,920 | 0.01% | 12,752 | Common | SOLE |
| 46090E103 | QQQ | INVESCO QQQ TR | $238,347 | 0.01% | 397 | Common | SOLE |
| 464286632 | EIS | ISHARES INC | $233,699 | 0.01% | 2,330 | Common | SOLE |
| 92189H748 | CLOI | VANECK ETF TRUST | $216,860 | 0.01% | 4,084 | Common | SOLE |
| 46138E206 | PWZ | INVESCO EXCH TRADED FD TR II | $210,950 | 0.01% | 8,819 | Common | SOLE |
| 14020Y201 | CGMU | CAPITAL GRP FIXED INCM ETF T | $188,519 | 0.01% | 6,908 | Common | SOLE |
| 33739P202 | FEMB | FIRST TR EXCH TRADED FD III | $178,563 | 0.01% | 6,086 | Common | SOLE |
| 88636R800 | PLTY | TIDAL TRUST II | $128,060 | 0.01% | 1,962 | Common | SOLE |
| 46434V803 | HEFA | ISHARES TR | $118,474 | 0.01% | 2,991 | Common | SOLE |
| 78464A284 | HYMB | SPDR SERIES TRUST | $117,545 | 0.01% | 4,715 | Common | SOLE |
| N07059210 | ASML | ASML HOLDING N V | $96,809 | 0.01% | 100 | PUT | SOLE |
| N07059210 | ASML | ASML HOLDING N V | $96,809 | 0.01% | 100 | Common | SOLE |
| 12811T308 | CVRT | CALAMOS ETF TR | $96,489 | 0.01% | 2,657 | Common | SOLE |
| 427866108 | HSY | HERSHEY CO | $93,525 | 0.01% | 500 | PUT | SOLE |
| 46434G848 | PICK | ISHARES INC | $92,293 | 0.01% | 2,074 | Common | SOLE |
| 464286343 | POWR | ISHARES INC | $83,834 | 0.00% | 3,342 | Common | SOLE |
| 092528108 | SHYM | BLACKROCK ETF TRUST II | $60,720 | 0.00% | 2,718 | Common | SOLE |
| 35473P439 | INCM | FRANKLIN TEMPLETON ETF TR | $57,172 | 0.00% | 2,061 | Common | SOLE |
| 25490K869 | CHAU | DIREXION SHS ETF TR | $55,180 | 0.00% | 2,667 | Common | SOLE |
| 092528850 | BCLO | BLACKROCK ETF TRUST II | $43,318 | 0.00% | 863 | Common | SOLE |
| 92189H300 | EMLC | VANECK ETF TRUST | $30,663 | 0.00% | 1,202 | Common | SOLE |
| 46429B655 | FLOT | ISHARES TR | $27,637 | 0.00% | 541 | Common | SOLE |
| 78468R721 | TFI | SPDR SERIES TRUST | $26,066 | 0.00% | 572 | Common | SOLE |
| 92204H400 | MUNY | VANGUARD NY TAX FREE FDS | $21,720 | 0.00% | 211 | Common | SOLE |
| 46654Q203 | JEPQ | J P MORGAN EXCHANGE TRADED F | $18,291 | 0.00% | 318 | Common | SOLE |
| 69344A107 | PULS | PGIM ETF TR | $14,949 | 0.00% | 300 | Common | SOLE |
| 46641Q159 | JPIE | J P MORGAN EXCHANGE TRADED F | $14,109 | 0.00% | 304 | Common | SOLE |
| 92189K105 | HODL | VANECK BITCOIN ETF | $12,430 | 0.00% | 384 | Common | SOLE |
| 33739P855 | FPEI | FIRST TR EXCH TRADED FD III | $12,029 | 0.00% | 622 | Common | SOLE |
| 092528504 | CLOA | BLACKROCK ETF TRUST II | $10,445 | 0.00% | 201 | Common | SOLE |
| 464287655 | IWM | ISHARES TR | $7,259 | 0.00% | 30 | Common | SOLE |
| 46090A721 | ICLO | INVESCO ACTIVELY MANAGED EXC | $5,583 | 0.00% | 218 | Common | SOLE |
| 25434V849 | DFNM | DIMENSIONAL ETF TRUST | $4,798 | 0.00% | 100 | Common | SOLE |
| 092528603 | BINC | BLACKROCK ETF TRUST II | $4,312 | 0.00% | 81 | Common | SOLE |
| 72201R627 | LONZ | PIMCO ETF TR | $4,086 | 0.00% | 80 | Common | SOLE |
| 96812F110 | BAERW | BRIDGER AEROSPACE GRP HLDGS | $3,643 | 0.00% | 47,317 | Common | NONE |
| 33738D309 | FTSL | FIRST TR EXCHANGE-TRADED FD | $3,621 | 0.00% | 79 | Common | SOLE |
| 46090A879 | VRIG | INVESCO ACTIVELY MANAGED EXC | $3,564 | 0.00% | 142 | Common | SOLE |
| 47103U886 | VNLA | JANUS DETROIT STR TR | $3,450 | 0.00% | 70 | Common | SOLE |
| 38964R203 | ETH | GRAYSCALE ETHEREUM MINI TR E | $2,860 | 0.00% | 73 | Common | SOLE |
| 92189F486 | FLTR | VANECK ETF TRUST | $2,710 | 0.00% | 106 | Common | SOLE |
| G3R95P116 | OIOWW | ESGL HLDGS LTD | $2,202 | 0.00% | 20,000 | Common | NONE |
| 26923N413 | MSTZ | ETF OPPORTUNITIES TRUST | $1,936 | 0.00% | 368 | Common | SOLE |
| 683344105 | ONTO | ONTO INNOVATION INC | $646 | 0.00% | 5 | Common | SOLE |
| 26923N322 | BMAX | ETF OPPORTUNITIES TRUST | $426 | 0.00% | 15 | Common | SOLE |
| 69344A834 | PAAA | PGIM ETF TR | $309 | 0.00% | 6 | Common | SOLE |
| 037833100 | AAPL | APPLE INC | $255 | 0.00% | 1 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.