Aequim Alternative Investments LP
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 12, 2024), Aequim Alternative Investments LP reported 23 stock positions worth $242.4 million. Its top holding was CNX Resources (CNX) at 28.1% of the portfolio, followed by Carnival (CCL, 22.7%) and Fluor (FLR, 12.6%). Compared with Q1 2024, it opened 1 new position, sold out of 3, added to 5 and reduced 3. The biggest buy was CNX Resources (CNX, shares +12%) and the biggest sale an exit from Nextera Energy (NEE).
- Most Recent 13F
- Q2 2026
- Location
- MILL VALLEY, CA
- CIK
- 0001728201
- Portfolio Value
- $242.4M (Q2 2024)
- SEC Filing
- 0001420506-24-001338 ↗ filed Aug 12, 2024
Holdings Value
Holdings 23 stocks · $242.4M
| CNX CNX Resources Corp. | 28.15% | 2,807,827 | $68.2M | Add +11.8% |
| CCL Carnival Corp. | 22.67% | 2,934,900 | $54.9M | Reduce -3.3% |
| FLR Fluor Corp. | 12.59% | 700,960 | $30.5M | No change |
| CNK Cinemark Holdings Inc. | 7.21% | 808,251 | $17.5M | No change |
| COIN Coinbase Global Inc. Class A | 6.31% | 68,800 | $15.3M | Add +112.3% |
| WDC Western Digital Corp. | 4.79% | 153,200 | $11.6M | No change |
| STX Seagate Technology Holdings | 3.84% | 90,100 | $9.3M | Add +13.5% |
| DFS Discover Financial Services | 3.64% | 67,500 | $8.8M | Reduce -10.0% |
| LSXMA Liberty Media Corp. Class A New | 2.16% | 236,700 | $5.2M | Reduce -32.4% |
| ZD Ziff Davis Inc. | 1.59% | 70,100 | $3.9M | No change |
| WOLF Wolfspeed Inc. | 1.54% | 163,800 | $3.7M | No change |
| JAZZ Jazz Pharmaceuticals PLC | 1.14% | 25,900 | $2.8M | No change |
| PD Pagerduty Inc. | 1.07% | 113,600 | $2.6M | New |
| PSN Parsons Corp. | 0.99% | 29,300 | $2.4M | Add +33.2% |
| CLF Cleveland-Cliffs Inc. | 0.46% | 73,000 | $1.1M | No change |
| BAX Baxter International Inc. | 0.34% | 25,000 | $836K | No change |
| RPAY Repay Holdings Corp. | 0.34% | 78,100 | $825K | No change |
| EEFT Euronet Worldwide Inc. | 0.28% | 6,600 | $683K | No change |
| ADNT Adient PLC | 0.27% | 26,500 | $655K | No change |
| CPRI Capri Holdings Ltd. | 0.20% | 15,000 | $496K | Add +20.0% |
| OMF Onemain Holdings Inc. | 0.17% | 8,426 | $409K | No change |
| GT Goodyear Tire & Rubber Co. | 0.14% | 30,000 | $341K | No change |
| OI O-I Glass Inc. | 0.09% | 20,000 | $223K | No change |
Other holdings (78): bonds, preferreds, convertibles and warrants · $2.5B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 8,000,000 | $329.3M | No change |
| EXEEW Chesapeake Energy Corp. -CW26 | *W EXP 02/09/202 | 2,753,916 | $203.4M | No change |
| EXEEZ Chesapeake Energy -CW26 | *W EXP 02/09/202 | 2,295,261 | $158.5M | No change |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | 90,000,000 | $92.0M | Reduce -10.0% |
| ZILLOW GROUP INC (Z 0.75 09/01/24) | NOTE 0.750% 9/0 · principal | 80,000,000 | $86.9M | Add +14.3% |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | 80,000,000 | $86.4M | Add +128.6% |
| EXEEL Chesapeake Energy Corp. -CW26 | *W EXP 02/09/202 | 1,294,187 | $84.1M | No change |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 80,000,000 | $80.2M | New |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | 75,000,000 | $74.2M | Add +7.1% |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | 65,000,000 | $64.5M | No change |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | 59,500,000 | $62.7M | New |
| FIRSTENERGY CORP (FE 4 05/01/26) | NOTE 4.000% 5/0 · principal | 62,500,000 | $62.1M | New |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | 60,000,000 | $59.0M | New |
| RBC BEARINGS INC (RBC 5 10/15/24 A) | 5% CNV PFD SR A | 435,000 | $53.2M | Add +13.0% |
| DATADOG INC (DDOG 0.125 06/15/25) | NOTE 0.125% 6/1 · principal | 36,550,000 | $53.1M | Add +12.5% |
| UNITY SOFTWARE INC (U 0 11/15/26) | NOTE 11/1 · principal | 55,250,000 | $47.9M | No change |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | 50,000,000 | $46.8M | Add +88.2% |
| GUARDANT HEALTH INC (GH 0 11/15/27) | NOTE 11/1 · principal | 60,000,000 | $46.5M | No change |
| CHART INDUSTRIES INC (GTLS 6.75 12/15/25 B) | 6.75DP CNV PFD B | 815,000 | $46.3M | No change |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | 1,000,000 | $45.8M | Add +27.9% |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 45,000,000 | $45.6M | New |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | 900,000 | $44.5M | New |
| AFFIRM HOLDINGS INC (AFRM 0 11/15/26) | NOTE 11/1 · principal | 41,300,000 | $34.5M | No change |
| ALARM.COM HLDGS INC (ALRM 0 01/15/26) | NOTE 1/1 · principal | 37,500,000 | $34.4M | No change |
| PROGRESS SOFTWARE CORP (PRGS 1 04/15/26) | NOTE 1.000% 4/1 · principal | 30,000,000 | $31.6M | No change |
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | NOTE 0.125% 5/0 · principal | 27,500,000 | $29.0M | Reduce -45.0% |
| BLACKLINE INC (BL 0 03/15/26) | NOTE 3/1 · principal | 31,000,000 | $28.5M | No change |
| GUIDEWIRE SOFTWARE INC (GWRE 1.25 03/15/25) | NOTE 1.250% 3/1 · principal | 22,150,000 | $27.8M | No change |
| INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) | NOTE 2.125% 2/1 · principal | 17,380,000 | $24.9M | Add +247.6% |
| CYTOKINETICS INC (CYTK 3.5 07/01/27) | NOTE 3.500% 7/0 · principal | 17,500,000 | $22.9M | Add +1066.7% |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | 27,500,000 | $22.9M | No change |
| ENPHASE ENERGY INC (ENPH 0.25 03/01/25) | NOTE 0.250% 3/0 · principal | 16,500,000 | $22.5M | No change |
| FRESHPET INC (FRPT 3 04/01/28) | NOTE 3.000% 4/0 · principal | 10,000,000 | $19.8M | No change |
| EXACT SCIENCES CORP (EXAS 0.375 03/15/27) | NOTE 0.375% 3/1 · principal | 22,000,000 | $19.2M | Add +266.7% |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | 22,000,000 | $19.1M | Reduce -12.0% |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | 13,000,000 | $18.2M | No change |
| JAMF HOLDING CORP (JAMF 0.125 09/01/26) | NOTE 0.125% 9/0 · principal | 20,500,000 | $18.2M | No change |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | 18,500,000 | $16.3M | No change |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 17,000,000 | $15.6M | New |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | 13,625,000 | $14.6M | Reduce -61.1% |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 15,000,000 | $14.4M | No change |
| COMMERCE.COM INC (CMRC 0.25 10/01/26) | NOTE 0.250%10/0 · principal | 15,000,000 | $13.2M | Reduce -25.0% |
| MANNKIND CORP (MNKD 2.5 03/01/26) | NOTE 2.500% 3/0 · principal | 10,000,000 | $12.1M | No change |
| PENGUIN SOLUTIONS CAYMEN (PENG 2.25 02/15/26) | NOTE 2.250% 2/1 · principal | 9,500,000 | $12.1M | No change |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | 15,000,000 | $11.9M | No change |
| MARCUS CORPORATION (MCS 5 09/15/25) | NOTE 5.000% 9/1 · principal | 10,000,000 | $11.8M | Add +66.7% |
| RAPID7 INC (RPD 2.25 05/01/25) | NOTE 2.250% 5/0 · principal | 11,925,000 | $11.7M | No change |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | 10,000,000 | $9.0M | Reduce -42.9% |
| ENVESTNET INC (ENV 0.75 08/15/25) | 0.75 8/15/2025 · principal | 9,000,000 | $8.7M | No change |
| EPR PROPERTIES (EPR 5.75 PERP C) | PFD C CV 5.75% | 440,000 | $8.5M | No change |
| SNAP INC (SNAP 0 05/01/27) | NOTE 5/0 · principal | 10,000,000 | $8.3M | New |
| VARONIS SYSTEM INC (VRNS 1.25 08/15/25) | NOTE 1.250% 8/1 · principal | 5,000,000 | $8.1M | No change |
| INTERDIGITAL INC (IDCC 3.5 06/01/27) | NOTE 3.500% 6/0 · principal | 5,000,000 | $7.8M | New |
| M/A-COM TECH SOLUTIONS (MTSI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 5,000,000 | $7.1M | No change |
| CUTERA INC (CUTR 2.25 03/15/26) | NOTE 2.250% 3/1 · principal | 20,355,000 | $6.9M | No change |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | 6,000,000 | $6.3M | New |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | 7,500,000 | $6.0M | Reduce -50.0% |
| DISH NETWORK CORP (DISH 0 12/15/25) | NOTE 12/1 · principal | 7,500,000 | $5.6M | Reduce -70.0% |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | 6,500,000 | $5.1M | New |
| BRIGHTSPRING HEALTH SERV (BTSG 6.75 02/01/27) | UNIT 02/01/2027 | 100,000 | $4.7M | No change |
| LIVEPERSON INC (LPSN 0 12/15/26) | NOTE 12/1 · principal | 9,400,000 | $4.5M | No change |
| RWT HOLDINGS INC (RWT 5.75 10/01/25) | NOTE 5.750%10/0 · principal | 4,250,000 | $4.1M | No change |
| EXACT SCIENCES CORP (EXAS 1 01/15/25) | NOTE 1.000% 1/1 · principal | 4,000,000 | $3.9M | No change |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | 4,000,000 | $3.6M | New |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | 3,500,000 | $3.2M | No change |
| PACIRA BIOSCIENCES INC (PCRX 0.75 08/01/25) | NOTE 0.750% 8/0 · principal | 3,298,000 | $3.1M | Reduce -58.8% |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | 2,500,000 | $2.5M | No change |
| HAEMONETICS CORP (HAE 0 03/01/26) | NOTE 3/0 · principal | 2,500,000 | $2.3M | No change |
| CUTERA INC (CUTR 4 06/01/29) | NOTE 4.000% 6/0 · principal | 9,500,000 | $1.6M | No change |
| EPR PROPERTIES (EPR 9 PERP E) | CONV PFD 9% SR E | 50,000 | $1.4M | No change |
| REDWOOD TRUST INC (RWT 5.625 07/15/24) | NOTE 5.625% 7/1 · principal | 1,203,000 | $1.2M | No change |
| SPIRIT AIRLINES INC (SAVE 1 05/15/26) | NOTE 1.000% 5/1 · principal | 2,000,000 | $992K | No change |
| IMTXW Immatics NV -CW | *W EXP 07/01/202 | 252,741 | $655K | No change |
| GCMGW GCM Grosvenor Inc. A -CW25 | *W EXP 11/17/202 | 1,085,000 | $532K | Add +10.2% |
| CUTERA INC (CUTR 2.25 06/01/28) | NOTE 2.250% 6/0 · principal | 2,000,000 | $409K | New |
| ASTLW Algoma Steel Group Inc. -CW26 | *W EXP 10/19/202 | 414,191 | $373K | No change |
| ALURW Allurion Technologies-28 | *W EXP 08/01/203 | 122,500 | $20K | No change |
| BFLYW Butterfly Network Inc. -CW25 | *W EXP 02/12/202 | 49,393 | $1K | No change |
Total filed on the 13F, all lines: $2.7B.
Portfolio Sells Q1 2024 → Q2 2024
| NEE Nextera Energy Inc. | Sold out | 0.00% | −10.20 |
| F Ford Motor Co. | Sold out | 0.00% | −5.77 |
| LSXMA Liberty Media Corp. Class A New | Reduce -32.4% | 2.16% | −1.72 |
| BMRN Biomarin Pharmaceutical Inc. | Sold out | 0.00% | −1.40 |
| DFS Discover Financial Services | Reduce -10.0% | 3.64% | −0.03 |
| CCL Carnival Corp. | Reduce -3.3% | 22.67% | +4.14 |
Portfolio Buys Q1 2024 → Q2 2024
Notes & Other Activity Q1 2024 → Q2 2024
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | Reduce -10.0% | 90,000,000 | $92.0M |
| SNAP INC (SNAP 0.25 05/01/25) | NOTE 0.250% 5/0 · principal | Sold out | 90,000,000 | $87.6Mbefore exit |
| ZILLOW GROUP INC (Z 0.75 09/01/24) | NOTE 0.750% 9/0 · principal | Add +14.3% | 80,000,000 | $86.9M |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | Add +128.6% | 80,000,000 | $86.4M |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | New | 80,000,000 | $80.2M |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | Add +7.1% | 75,000,000 | $74.2M |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | New | 59,500,000 | $62.7M |
| PELOTON INTERACTIVE INC (PTON 0 02/15/26) | NOTE 2/1 · principal | Sold out | 73,500,000 | $62.3Mbefore exit |
| FIRSTENERGY CORP (FE 4 05/01/26) | NOTE 4.000% 5/0 · principal | New | 62,500,000 | $62.1M |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | Sold out | 65,590,000 | $60.4Mbefore exit |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | New | 60,000,000 | $59.0M |
| RBC BEARINGS INC (RBC 5 10/15/24 A) | 5% CNV PFD SR A | Add +13.0% | 435,000 | $53.2M |
| DATADOG INC (DDOG 0.125 06/15/25) | NOTE 0.125% 6/1 · principal | Add +12.5% | 36,550,000 | $53.1M |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | Add +88.2% | 50,000,000 | $46.8M |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | Add +27.9% | 1,000,000 | $45.8M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | New | 45,000,000 | $45.6M |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | New | 900,000 | $44.5M |
| CLARIVATE PLC (CLVT 5.25 06/01/24 A) | 5.25% PFD CONV A | Sold out | 1,000,000 | $29.7Mbefore exit |
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | NOTE 0.125% 5/0 · principal | Reduce -45.0% | 27,500,000 | $29.0M |
| INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) | NOTE 2.125% 2/1 · principal | Add +247.6% | 17,380,000 | $24.9M |
| CYTOKINETICS INC (CYTK 3.5 07/01/27) | NOTE 3.500% 7/0 · principal | Add +1066.7% | 17,500,000 | $22.9M |
| EXACT SCIENCES CORP (EXAS 0.375 03/15/27) | NOTE 0.375% 3/1 · principal | Add +266.7% | 22,000,000 | $19.2M |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | Reduce -12.0% | 22,000,000 | $19.1M |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | New | 17,000,000 | $15.6M |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | Reduce -61.1% | 13,625,000 | $14.6M |
| VERINT SYSTEMS INC (VRNT 0.25 04/15/26) | NOTE 0.250% 4/1 · principal | Sold out | 15,000,000 | $14.1Mbefore exit |
| ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) | NOTE 2.250% 4/0 · principal | Sold out | 11,500,000 | $13.3Mbefore exit |
| COMMERCE.COM INC (CMRC 0.25 10/01/26) | NOTE 0.250%10/0 · principal | Reduce -25.0% | 15,000,000 | $13.2M |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | Sold out | 15,000,000 | $12.1Mbefore exit |
| MARCUS CORPORATION (MCS 5 09/15/25) | NOTE 5.000% 9/1 · principal | Add +66.7% | 10,000,000 | $11.8M |
| UGI CORP (UGI 7.25 06/01/24) | UNIT 06/01/2024 | Sold out | 174,000 | $10.1Mbefore exit |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | Reduce -42.9% | 10,000,000 | $9.0M |
| SNAP INC (SNAP 0 05/01/27) | NOTE 5/0 · principal | New | 10,000,000 | $8.3M |
| INTERDIGITAL INC (IDCC 3.5 06/01/27) | NOTE 3.500% 6/0 · principal | New | 5,000,000 | $7.8M |
| PROS HOLDINGS INC (PRO 1 05/15/24) | NOTE 1.000% 5/1 · principal | Sold out | 7,500,000 | $7.3Mbefore exit |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | New | 6,000,000 | $6.3M |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | Reduce -50.0% | 7,500,000 | $6.0M |
| DISH NETWORK CORP (DISH 0 12/15/25) | NOTE 12/1 · principal | Reduce -70.0% | 7,500,000 | $5.6M |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | New | 6,500,000 | $5.1M |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | New | 4,000,000 | $3.6M |
| PACIRA BIOSCIENCES INC (PCRX 0.75 08/01/25) | NOTE 0.750% 8/0 · principal | Reduce -58.8% | 3,298,000 | $3.1M |
| SEMTECH CORP (SMTC 1.625 11/01/27) | NOTE 1.625%11/0 · principal | Sold out | 1,500,000 | $1.5Mbefore exit |
| ALGONQUIN PWR & (AQNCN 7.75 06/15/24) | UNIT 06/15/2024 | Sold out | 50,000 | $1.1Mbefore exit |
| GCMGW GCM Grosvenor Inc. A -CW25 | *W EXP 11/17/202 | Add +10.2% | 1,085,000 | $532K |
| CUTERA INC (CUTR 2.25 06/01/28) | NOTE 2.250% 6/0 · principal | New | 2,000,000 | $409K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 31 | $337.1M | CRWV, MKSI, PANW, WBD, EA |
| Q1 2026 | 34 | $231.5M | EA, MKSI, COIN, FLR, CRWV |
| Q4 2025 | 27 | $197.5M | SPOT, COIN, FOX, IBIT, CYBR |
| Q3 2025 | 25 | $597.8M | SPY, SPOT, COIN, IBIT, FLR |
| Q2 2025 | 22 | $162.9M | CCL, SPOT, COIN, FLR, MCHP |
| Q1 2025 | 24 | $128.1M | CNK, CCL, SPOT, FLR, DFS |
| Q4 2024 | 21 | $154.0M | FLR, CNK, CCL, COIN, DFS |
| Q3 2024 | 23 | $234.1M | CNX, FLR, WDC, CNK, CCL |
| Q2 2024 | 23 | $242.4M | CNX, CCL, FLR, CNK, COIN |
| Q1 2024 | 25 | $267.6M | CNX, CCL, FLR, NEE, F |