Elequin Capital, LP
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Elequin Capital, LP reported 116 stock positions worth $1.2 billion. Its top holding was Sea Ltd. (sealtd 2.375 12/01/25) at 24.8% of the portfolio, followed by Tesla (TSLA, 17.5%) and Microsoft (MSFT, 6.6%). Compared with Q2 2025, it opened 45 new positions, sold out of 236, added to 28 and reduced 28. The biggest buy was a new position in Sea Ltd. (sealtd 2.375 12/01/25) and the biggest sale iShares Bitcoin Trust ETF (IBIT, shares −34%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001810873
- Portfolio Value
- $1.2B (Q3 2025)
- SEC Filing
- 0001420506-25-003395 ↗ filed Nov 14, 2025
Holdings Value
Holdings 116 stocks · $1.2B
| SEA LTD (SEALTD 2.375 12/01/25) | 24.83% | 147,007,000 | $290.6M | New |
| TSLA Tesla Inc. | 17.45% | 459,277 | $204.2M | Add +1824.9% |
| MSFT Microsoft Corp. | 6.64% | 150,000 | $77.7M | New |
| TSM Taiwan Semiconductor-SP ADR | 4.83% | 202,500 | $56.6M | Add +18176.2% |
| AMZN Amazon.com Inc. | 4.69% | 250,000 | $54.9M | New |
| COIN Coinbase Global Inc. Class A | 4.66% | 161,725 | $54.6M | Add +3896.2% |
| IBIT iShares Bitcoin Trust ETF | 4.62% | 831,683 | $54.1M | Reduce -33.8% |
| GOOGL Alphabet Inc. Class A | 4.15% | 200,000 | $48.6M | Add +5105.6% |
| FBTC Fidelity Wise Origin Bitcoin | 4.09% | 479,372 | $47.8M | Add +22.9% |
| NVDA Nvidia Corp. | 2.67% | 167,177 | $31.2M | Add +2118.7% |
| BITB Bitwise Bitcoin ETF | 2.09% | 393,733 | $24.5M | Add +962.9% |
| LLY Eli Lilly & Co. | 1.96% | 30,000 | $22.9M | New |
| BTC Grayscale Bitcoin Mini ETF | 1.56% | 361,194 | $18.3M | Add +165.7% |
| BRRR Coinshares Bitcoin ETF | 1.55% | 562,013 | $18.2M | Add +634.3% |
| AVGO Broadcom Inc. | 1.41% | 50,000 | $16.5M | New |
| ARKB ARK 21SHARES Bitcoin ETF | 1.17% | 361,524 | $13.7M | Add +28.7% |
| JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F | 1.08% | 247,201 | $12.6M | Add +180.9% |
| MSTR Strategy Inc. | 0.85% | 30,794 | $9.9M | Add +134.9% |
| PZA Invesco National Amt-Free Mu | 0.79% | 400,000 | $9.2M | New |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.78% | 181,145 | $9.1M | Add +551.4% |
| CWB SS SPDR BB Conv Sec ETF | 0.69% | 89,729 | $8.1M | Add +3.7% |
| SMCI Super Micro Computer Inc. | 0.65% | 158,074 | $7.6M | Add +56.8% |
| JMUB JPMorgan Municipal ETF | 0.52% | 121,690 | $6.1M | Add +1955.6% |
| SUB iShares Short-Term National | 0.37% | 40,790 | $4.4M | New |
| ICVT iShares Convertible Bond ETF | 0.35% | 41,194 | $4.1M | New |
| JSI JH Securitized Income ETF | 0.32% | 70,826 | $3.7M | New |
| AMD Advanced Micro Devices | 0.30% | 21,450 | $3.5M | Add +948.4% |
| HIMU iShares High Yild Muni A ETF | 0.28% | 66,588 | $3.3M | New |
| VCRM Vanguard Core Tax-Ex Bond | 0.27% | 41,766 | $3.1M | Add +85.3% |
| PLTR Palantir Technologies Inc. Class A | 0.26% | 16,369 | $3.0M | Reduce -40.6% |
| WISDOMTREE INC (WT 5.75 08/15/28) | 0.24% | 1,801,000 | $2.9M | New |
| BSMS Invesco Bulletshares 2028 MB | 0.20% | 100,000 | $2.3M | Add +31150.0% |
| MUNI PIMCO Intermediate Municipal | 0.20% | 43,725 | $2.3M | New |
| NOVA LTD (NVMI 0 10/15/25) | 0.18% | 500,000 | $2.1M | New |
| VTES Vanguard SH Term Tax-Ex Bond | 0.16% | 18,697 | $1.9M | Reduce -14.0% |
| BSMW Invesco Bulletshares 2032 MB | 0.15% | 71,907 | $1.8M | New |
| NYF iShares New York Muni Bond E | 0.13% | 28,595 | $1.5M | Add +481.7% |
| SCMB Schwab Municipal Bond ETF | 0.13% | 59,020 | $1.5M | Reduce -41.0% |
| CALI Ishrs SH-TRM Ca Muni Act ETF | 0.13% | 29,550 | $1.5M | Reduce -37.9% |
| MMIT Nylim Mackay Muni Intermedia filed as NEW YORK LIFE INVTS ACTIVE E | 0.13% | 61,038 | $1.5M | Add +120.8% |
| BSMY Invesco Bulletshares 2034 MB | 0.13% | 60,193 | $1.5M | Reduce -46.9% |
| FMHI First Trust Municipal High I | 0.12% | 30,767 | $1.5M | Add +779.1% |
| GDE Wisdomtree Efficient Gold PL | 0.12% | 23,982 | $1.4M | New |
| SHYD Vaneck SH Hi YLD Muni | 0.12% | 58,807 | $1.3M | Add +84.5% |
| IBMS ISHARESIBONDDEC2030MUNIBDETF | 0.11% | 48,261 | $1.3M | Add +21.6% |
| VTEC Vanguard Ca Tax-Ex Bond | 0.10% | 12,275 | $1.2M | New |
| ITM Vaneck Intermediate Muni ETF | 0.10% | 24,193 | $1.1M | New |
| FLMI Franklin Dynamic Municipal B | 0.09% | 43,243 | $1.1M | New |
| FSMB First Trust Short Dur Manag | 0.09% | 52,583 | $1.1M | Add +119.8% |
| JMSI JPM Sus Municipal Income filed as J P MORGAN EXCHANGE TRADED F | 0.08% | 19,538 | $981K | New |
| CGSM Cap Group Short Muni Income | 0.08% | 36,627 | $965K | New |
| BSMT Invesco Bulletshares 2029 MB | 0.08% | 40,513 | $936K | New |
| VSDM Vanguard Short Tax-Ex Bond | 0.08% | 11,698 | $897K | Reduce -70.7% |
| INMU iShares Intermediate Muni Inc. | 0.07% | 33,715 | $807K | New |
| IWD iShares Russell 1000 Value E | 0.07% | 3,805 | $775K | Add +125.0% |
| TIDAL TRUST II | 0.07% | 110,509 | $760K | New |
| IBMR iShares Ibonds Dec 2029 M BD | 0.06% | 29,607 | $756K | New |
| META Meta Platforms Inc. Class A | 0.06% | 994 | $730K | Add +268.1% |
| JMHI JPMorgan High Yield Municpl | 0.06% | 14,369 | $725K | New |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.06% | 981 | $654K | Reduce -22.9% |
| MLN Vaneck Long Muni ETF | 0.06% | 37,220 | $651K | New |
| MMIN Nylim Mackay Muni Insured Et filed as NEW YORK LIFE INVTS ACTIVE E | 0.05% | 25,106 | $598K | Reduce -37.2% |
| VTEL Vanguard LT Tax-Ex Bond | 0.05% | 5,249 | $540K | New |
| BSSX Invesco Bulletshares 2033 MB | 0.04% | 19,096 | $488K | New |
| ETHA iShares Ethereum Trust ETF | 0.04% | 15,018 | $473K | Reduce -97.9% |
| JBBB Janus Henderson B-BBB Clo Et | 0.04% | 9,434 | $454K | New |
| ARKK ARK Innovation ETF | 0.04% | 5,184 | $447K | New |
| MINO PIMCO Municipal Income Oppor | 0.04% | 9,657 | $438K | Reduce -22.6% |
| FCVT First Trust Ssi Strategi ETF | 0.03% | 8,678 | $371K | Reduce -72.9% |
| SMMU PIMCO SHRT TRM Muni BND ETF | 0.03% | 7,222 | $365K | Reduce -84.1% |
| CLOB Vaneck Aa-BB Clo ETF | 0.03% | 7,136 | $364K | Reduce -18.8% |
| FTQI First Trust Nasdaq Buywrite | 0.03% | 14,193 | $292K | New |
| HYGH iShares Int Rate Hedg HY ETF | 0.02% | 3,346 | $291K | Reduce -68.6% |
| BSMV Invesco Bulletshares 2031 MB | 0.02% | 12,752 | $268K | New |
| QQQ Invesco QQQ Trust Series 1 | 0.02% | 397 | $238K | Reduce -89.5% |
| EIS iShares MSCI Israel ETF | 0.02% | 2,330 | $234K | New |
| CLOI Vaneck Clo ETF | 0.02% | 4,084 | $217K | No change |
| PWZ Invesco California Amt-Free | 0.02% | 8,819 | $211K | New |
| CGMU Cap Group Municipal Income | 0.02% | 6,908 | $189K | Reduce -85.9% |
| FEMB First Trust Emerging Markets | 0.02% | 6,086 | $179K | Reduce -0.2% |
| PLTY Yieldmax PLTR Option Inc. ETF | 0.01% | 1,962 | $128K | New |
| HEFA Isha Curr Hedged MSCI Eafe | 0.01% | 2,991 | $118K | Reduce -88.9% |
| HYMB SS SPDR N Ice HY Muni ETF | 0.01% | 4,715 | $118K | Add +4969.9% |
| ASML ASML Holding NV-NY Reg SHS | 0.01% | 100 | $97K | New |
| CVRT Calamos Conv Eqty Alt ETF | 0.01% | 2,657 | $96K | Reduce -85.7% |
| PICK iShares MSCI Global Metals & | 0.01% | 2,074 | $92K | New |
| POWR iShares US Power Infrastruct | 0.01% | 3,342 | $84K | New |
| SHYM iShares Short Duration High | 0.01% | 2,718 | $61K | Reduce -96.5% |
| INCM Franklin Income Focus ETF | 0.00% | 2,061 | $57K | Reduce -97.8% |
| CHAU DD Csi 300 CH A SB 2X ETF-US | 0.00% | 2,667 | $55K | No change |
| BCLO iShares BBB-B Clo Active ETF | 0.00% | 863 | $43K | No change |
| EMLC Vaneck JPM Em Local Curr BND | 0.00% | 1,202 | $31K | No change |
| FLOT iShares Floating Rate Bond E | 0.00% | 541 | $28K | No change |
| TFI SS SPDR N Ice Muni Bond ETF | 0.00% | 572 | $26K | Reduce -85.8% |
| MUNY Vanguard NY Tax-Ex Bond | 0.00% | 211 | $22K | New |
| JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F | 0.00% | 318 | $18K | New |
| PULS Pgim Ultra Short Bond ETF | 0.00% | 300 | $15K | New |
| JPIE JPMorgan Income ETF | 0.00% | 304 | $14K | Reduce -94.9% |
| HODL Vaneck Bitcoin ETF | 0.00% | 384 | $12K | No change |
| FPEI First Trust Institutional PR | 0.00% | 622 | $12K | No change |
| CLOA iShares Aaa Clo Act ETF-Usdi | 0.00% | 201 | $10K | No change |
| IWM iShares Russell 2000 ETF | 0.00% | 30 | $7K | No change |
| ICLO Invesco Aaa Clo F/R Note ETF | 0.00% | 218 | $6K | No change |
| DFNM Dimensional National Muni BD | 0.00% | 100 | $5K | New |
| BINC iShares Flex I A ETF-Usd Inc. | 0.00% | 81 | $4K | Reduce -94.1% |
| LONZ PIMCO Senior Loan Active ETF | 0.00% | 80 | $4K | No change |
| FTSL First Trust Senior Loan ETF | 0.00% | 79 | $4K | No change |
| VRIG Invesco Variable Rate Invest | 0.00% | 142 | $4K | No change |
| VNLA Janus Henderson Short Durati | 0.00% | 70 | $3K | New |
| ETH Grayscale Ethereum Staking M | 0.00% | 73 | $3K | Reduce -100.0% |
| FLTR Vaneck Ig Floating Rate ETF | 0.00% | 106 | $3K | No change |
| MSTZ T-Rex 2X Inverse MSTR DT ETF | 0.00% | 368 | $2K | No change |
| ONTO Onto Innovation Inc. | 0.00% | 5 | $646 | New |
| BMAX Rex Bitcoin Cor Tre Co. B ETF | 0.00% | 15 | $426 | Reduce -99.9% |
| PAAA Pgim Aaa Clo ETF | 0.00% | 6 | $309 | New |
| AAPL Apple Inc. | 0.00% | 1 | $255 | Reduce -99.8% |
Options reported separately and not counted above: TSLA puts ($200.1M), GOOGL puts ($97.2M), MSFT puts ($77.7M), TSM puts ($56.6M), AMZN puts ($54.9M), COIN puts ($50.6M), GOOGL calls ($48.6M), NVDA puts ($28.0M), LLY puts ($22.9M), AVGO puts ($16.5M), IBIT calls ($11.7M), ETHA puts ($1.9M), and 10 more.
Other holdings (5): bonds, preferreds, convertibles and warrants · $1.4M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| CHART INDUSTRIES INC (GTLS 6.75 12/15/25 B) | 6.75DP CNV PFD B | 11,800 | $840K | New |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | 5,500 | $287K | Add +5400.0% |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | 3,900 | $275K | New |
| BAERW Wildfire New Pubco Inc.-27 | *W EXP 01/24/202 | 47,317 | $4K | No change |
| OIOWW Esgl Holdings Ltd.-28 | *W EXP 08/02/202 | 20,000 | $2K | No change |
Total filed on the 13F, all lines: $1.2B.
Portfolio Sells Q2 2025 → Q3 2025
| IBIT iShares Bitcoin Trust ETF | Reduce -33.8% | 4.62% | −19.96 |
| FETH Fidelity Ethereum Fund | Sold out | 0.00% | −6.39 |
| ETHA iShares Ethereum Trust ETF | Reduce -97.9% | 0.04% | −4.30 |
| ETH Grayscale Ethereum Staking M | Reduce -100.0% | 0.00% | −4.10 |
| ETHW Bitwise Ethereum ETF | Sold out | 0.00% | −2.67 |
| PLTR Palantir Technologies Inc. Class A | Reduce -40.6% | 0.26% | −0.95 |
| FTHI Fthi/First Trust Exchange-TR | Sold out | 0.00% | −0.93 |
| VSDM Vanguard Short Tax-Ex Bond | Reduce -70.7% | 0.08% | −0.89 |
| INCM Franklin Income Focus ETF | Reduce -97.8% | 0.00% | −0.80 |
| MUB iShares National Muni Bond E | Sold out | 0.00% | −0.78 |
| CLOX Eldridge Aaa Clo ETF | Sold out | 0.00% | −0.75 |
| PYLD PIMCO Multisector Bond Actv | Sold out | 0.00% | −0.74 |
| BSMY Invesco Bulletshares 2034 MB | Reduce -46.9% | 0.13% | −0.73 |
| SMMU PIMCO SHRT TRM Muni BND ETF | Reduce -84.1% | 0.03% | −0.70 |
| SCMB Schwab Municipal Bond ETF | Reduce -41.0% | 0.13% | −0.68 |
| BSMR Invesco Bulletshares 2027 MB | Sold out | 0.00% | −0.67 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -89.5% | 0.02% | −0.65 |
| CALI Ishrs SH-TRM Ca Muni Act ETF | Reduce -37.9% | 0.13% | −0.64 |
| PHYS Sprott Physical Gold Trust | Sold out | 0.00% | −0.58 |
| SHYM iShares Short Duration High | Reduce -96.5% | 0.01% | −0.54 |
| VTES Vanguard SH Term Tax-Ex Bond | Reduce -14.0% | 0.16% | −0.54 |
| FCAL First Trust California Munic | Sold out | 0.00% | −0.51 |
| DFGX Dimsnl Intr CF in ETF-Usd Inc. | Sold out | 0.00% | −0.50 |
| CGMU Cap Group Municipal Income | Reduce -85.9% | 0.02% | −0.40 |
| SLV iShares Silver Trust | Sold out | 0.00% | −0.39 |
| FCVT First Trust Ssi Strategi ETF | Reduce -72.9% | 0.03% | −0.37 |
| BSMU Invesco Bulletshares 2030 MB | Sold out | 0.00% | −0.33 |
| HEFA Isha Curr Hedged MSCI Eafe | Reduce -88.9% | 0.01% | −0.32 |
| HYGH iShares Int Rate Hedg HY ETF | Reduce -68.6% | 0.02% | −0.27 |
| BKLN Invesco Senior Loan ETF | Sold out | 0.00% | −0.26 |
| CGHM Cap Group Muni High-Income | Sold out | 0.00% | −0.25 |
| BMAX Rex Bitcoin Cor Tre Co. B ETF | Reduce -99.9% | 0.00% | −0.25 |
| MMIN Nylim Mackay Muni Insured Et | Reduce -37.2% | 0.05% | −0.25 |
| TLT iShares 20+ Year Treasury BD | Sold out | 0.00% | −0.21 |
| BSMQ Invesco Bulletshares 2026 MB | Sold out | 0.00% | −0.21 |
| VRP Invesco Variable Rate Prefer | Sold out | 0.00% | −0.20 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Sold out | 0.00% | −0.20 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Sold out | 0.00% | −0.20 |
| BMEZ BlackRock HLTH Sci TRM TR II | Sold out | 0.00% | −0.20 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -22.9% | 0.06% | −0.20 |
| CVRT Calamos Conv Eqty Alt ETF | Reduce -85.7% | 0.01% | −0.18 |
| FBCG Fidelity Blue Chip Grow ETF | Sold out | 0.00% | −0.17 |
| XEXGX Eaton Vance Tax-Managed Glob | Sold out | 0.00% | −0.17 |
| NZF Nuveen Municipal Credit Inc. | Sold out | 0.00% | −0.16 |
| BST BlackRock Science & Tech TR | Sold out | 0.00% | −0.16 |
| HYT BlackRock Corp. Hi YLD | Sold out | 0.00% | −0.16 |
| ECAT BlackRock ESG Cap All TRM TR | Sold out | 0.00% | −0.16 |
| DSL Doubleline Income Solutions | Sold out | 0.00% | −0.16 |
| UPS United Parcel Service Class B | Sold out | 0.00% | −0.15 |
| RVT Royce Small-Cap Trust Inc. | Sold out | 0.00% | −0.14 |
Portfolio Buys Q2 2025 → Q3 2025
| SEA LTD (SEALTD 2.375 12/01/25) | New | 24.83% | +24.83 |
| TSLA Tesla Inc. | Add +1824.9% | 17.45% | +15.03 |
| MSFT Microsoft Corp. | New | 6.64% | +6.64 |
| TSM Taiwan Semiconductor-SP ADR | Add +18176.2% | 4.83% | +4.75 |
| AMZN Amazon.com Inc. | New | 4.69% | +4.69 |
| COIN Coinbase Global Inc. Class A | Add +3896.2% | 4.66% | +4.21 |
| GOOGL Alphabet Inc. Class A | Add +5105.6% | 4.15% | +3.94 |
| NVDA Nvidia Corp. | Add +2118.7% | 2.67% | +2.28 |
| LLY Eli Lilly & Co. | New | 1.96% | +1.96 |
| AVGO Broadcom Inc. | New | 1.41% | +1.41 |
| BITB Bitwise Bitcoin ETF | Add +962.9% | 2.09% | +1.40 |
| BRRR Coinshares Bitcoin ETF | Add +634.3% | 1.55% | +0.81 |
| PZA Invesco National Amt-Free Mu | New | 0.79% | +0.79 |
| JMUB JPMorgan Municipal ETF | Add +1955.6% | 0.52% | +0.43 |
| SUB iShares Short-Term National | New | 0.37% | +0.37 |
| ICVT iShares Convertible Bond ETF | New | 0.35% | +0.35 |
| VTEB Vanguard Tax-Exempt Bond ETF | Add +551.4% | 0.78% | +0.34 |
| JSI JH Securitized Income ETF | New | 0.32% | +0.32 |
| HIMU iShares High Yild Muni A ETF | New | 0.28% | +0.28 |
| WISDOMTREE INC (WT 5.75 08/15/28) | New | 0.24% | +0.24 |
| AMD Advanced Micro Devices | Add +948.4% | 0.30% | +0.20 |
| BSMS Invesco Bulletshares 2028 MB | Add +31150.0% | 0.20% | +0.20 |
| MUNI PIMCO Intermediate Municipal | New | 0.20% | +0.20 |
| NOVA LTD (NVMI 0 10/15/25) | New | 0.18% | +0.18 |
| BSMW Invesco Bulletshares 2032 MB | New | 0.15% | +0.15 |
| GDE Wisdomtree Efficient Gold PL | New | 0.12% | +0.12 |
| VTEC Vanguard Ca Tax-Ex Bond | New | 0.10% | +0.10 |
| ITM Vaneck Intermediate Muni ETF | New | 0.10% | +0.10 |
| FLMI Franklin Dynamic Municipal B | New | 0.09% | +0.09 |
| JMSI JPM Sus Municipal Income | New | 0.08% | +0.08 |
| CGSM Cap Group Short Muni Income | New | 0.08% | +0.08 |
| BSMT Invesco Bulletshares 2029 MB | New | 0.08% | +0.08 |
| FMHI First Trust Municipal High I | Add +779.1% | 0.12% | +0.07 |
| INMU iShares Intermediate Muni Inc. | New | 0.07% | +0.07 |
| TIDAL TRUST II | New | 0.07% | +0.07 |
| IBMR iShares Ibonds Dec 2029 M BD | New | 0.06% | +0.06 |
| JMHI JPMorgan High Yield Municpl | New | 0.06% | +0.06 |
| MLN Vaneck Long Muni ETF | New | 0.06% | +0.06 |
| NYF iShares New York Muni Bond E | Add +481.7% | 0.13% | +0.05 |
| VTEL Vanguard LT Tax-Ex Bond | New | 0.05% | +0.05 |
| BSSX Invesco Bulletshares 2033 MB | New | 0.04% | +0.04 |
| JBBB Janus Henderson B-BBB Clo Et | New | 0.04% | +0.04 |
| ARKK ARK Innovation ETF | New | 0.04% | +0.04 |
| FTQI First Trust Nasdaq Buywrite | New | 0.03% | +0.03 |
| BSMV Invesco Bulletshares 2031 MB | New | 0.02% | +0.02 |
| EIS iShares MSCI Israel ETF | New | 0.02% | +0.02 |
| PWZ Invesco California Amt-Free | New | 0.02% | +0.02 |
| PLTY Yieldmax PLTR Option Inc. ETF | New | 0.01% | +0.01 |
| HYMB SS SPDR N Ice HY Muni ETF | Add +4969.9% | 0.01% | +0.01 |
| ASML ASML Holding NV-NY Reg SHS | New | 0.01% | +0.01 |
Options Activity Q2 2025 → Q3 2025
| TSLA Tesla Inc. | put | New | 450,000 | $200.1M |
| GOOGL Alphabet Inc. Class A | put | Add +2122.2% | 400,000 | $97.2M |
| MSFT Microsoft Corp. | put | Add +24900.0% | 150,000 | $77.7M |
| TSM Taiwan Semiconductor-SP ADR | put | Add +3950.0% | 202,500 | $56.6M |
| AMZN Amazon.com Inc. | put | Add +2531.6% | 250,000 | $54.9M |
| COIN Coinbase Global Inc. Class A | put | New | 150,000 | $50.6M |
| GOOGL Alphabet Inc. Class A | call | Add +1370.6% | 200,000 | $48.6M |
| NVDA Nvidia Corp. | put | New | 150,000 | $28.0M |
| LLY Eli Lilly & Co. | put | New | 30,000 | $22.9M |
| AVGO Broadcom Inc. | put | New | 50,000 | $16.5M |
| IBIT iShares Bitcoin Trust ETF | call | New | 180,000 | $11.7M |
| ETHU 2X Ether ETF | put | Sold out | 65,000 | $3.7Mbefore exit |
| ETHA iShares Ethereum Trust ETF | put | New | 60,000 | $1.9M |
| META Meta Platforms Inc. Class A | put | Reduce -26.5% | 2,500 | $1.8M |
| PANW Palo Alto Networks Inc. | call | Sold out | 7,500 | $1.5Mbefore exit |
| AMAT Applied Materials Inc. | call | Sold out | 8,000 | $1.5Mbefore exit |
| UBER Uber Technologies Inc. | call | Sold out | 14,000 | $1.3Mbefore exit |
| META Meta Platforms Inc. Class A | call | Reduce -31.8% | 1,500 | $1.1M |
| AMD Advanced Micro Devices | put | Reduce -47.8% | 6,000 | $971K |
| ETHA iShares Ethereum Trust ETF | call | New | 30,000 | $945K |
| SNOW Snowflake Inc. | call | Sold out | 3,700 | $828Kbefore exit |
| PYPL PayPal Holdings Inc. | put | Sold out | 11,000 | $818Kbefore exit |
| CAT Caterpillar Inc. | put | Sold out | 1,900 | $738Kbefore exit |
| SLB SLB Ltd. | call | Sold out | 21,500 | $727Kbefore exit |
| PANW Palo Alto Networks Inc. | put | Sold out | 3,500 | $716Kbefore exit |
| CVNA Carvana Co. | call | Sold out | 2,000 | $674Kbefore exit |
| AMZN Amazon.com Inc. | call | Sold out | 3,000 | $658Kbefore exit |
| SBUX Starbucks Corp. | call | Sold out | 7,100 | $651Kbefore exit |
| MNST Monster Beverage Corp. | call | Sold out | 10,000 | $626Kbefore exit |
| TSM Taiwan Semiconductor-SP ADR | call | Sold out | 2,000 | $453Kbefore exit |
| PLTR Palantir Technologies Inc. Class A | put | Sold out | 3,000 | $409Kbefore exit |
| ZM Zoom Communications Inc. | call | Sold out | 5,000 | $390Kbefore exit |
| BMNR Bitmine Immersion Technologi | put | New | 7,400 | $384K |
| FCX Freeport-McMoran Inc. | put | Sold out | 8,500 | $368Kbefore exit |
| SHEL Shell PLC-ADR | put | Sold out | 5,000 | $352Kbefore exit |
| FCX Freeport-McMoran Inc. | call | Sold out | 8,000 | $347Kbefore exit |
| VZ Verizon Communications Inc. | call | Sold out | 8,000 | $346Kbefore exit |
| C Citigroup Inc. | put | Sold out | 4,000 | $340Kbefore exit |
| XOM Exxon Mobil Corp. | call | Reduce -72.7% | 3,000 | $338K |
| OXY Occidental Petroleum Corp. | call | Sold out | 7,800 | $328Kbefore exit |
| UBER Uber Technologies Inc. | put | Sold out | 3,500 | $327Kbefore exit |
| AMD Advanced Micro Devices | call | Reduce -71.4% | 2,000 | $324K |
| PG The Procter & Gamble Co. | put | Sold out | 2,000 | $319Kbefore exit |
| NVDA Nvidia Corp. | call | Sold out | 2,000 | $316Kbefore exit |
| RCL Royal Caribbean Cruises Ltd. | call | Sold out | 1,000 | $313Kbefore exit |
| MSFT Microsoft Corp. | call | Reduce -25.0% | 600 | $311K |
| DIS The Walt Disney Co. | call | Sold out | 2,500 | $310Kbefore exit |
| CVX Chevron Corp. | put | Sold out | 2,000 | $286Kbefore exit |
| TSN Tyson Foods Inc. Class A | put | Sold out | 5,000 | $280Kbefore exit |
| VLO Valero Energy Corp. | call | Sold out | 2,000 | $269Kbefore exit |
Showing the first 50 of 64.
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2025 → Q3 2025
| NRG ENERGY INC (NRG 2.75 06/01/48) | DBCV 2.750% 6/0 · principal | Sold out | 49,192,000 | $192.6Mbefore exit |
| CINEMARK HOLDINGS INC (CNK 4.5 08/15/25) | NOTE 4.500% 8/1 · principal | Sold out | 35,000,000 | $74.3Mbefore exit |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | Sold out | 1,134,000 | $45.0Mbefore exit |
| INSULET CORPORATION (PODD 0.375 09/01/26) | NOTE 0.375% 9/0 · principal | Sold out | 29,597,000 | $41.7Mbefore exit |
| ROYAL CARIBBEAN CRUISES (RCL 6 08/15/25) | NOTE 6.000% 8/1 · principal | Sold out | 5,381,000 | $34.0Mbefore exit |
| VARONIS SYSTEM INC (VRNS 1.25 08/15/25) | NOTE 1.250% 8/1 · principal | Sold out | 12,648,000 | $20.9Mbefore exit |
| INNOVIVA INC (INVA 2.5 08/15/25) | NOTE 2.500% 8/1 · principal | Sold out | 2,500,000 | $2.9Mbefore exit |
| CHART INDUSTRIES INC (GTLS 6.75 12/15/25 B) | 6.75DP CNV PFD B | New | 11,800 | $840K |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | Add +5400.0% | 5,500 | $287K |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | New | 3,900 | $275K |
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 | 650 | $579.9M | NVDA, MSFT, AAPL, INTC, AMZN |
| Q1 2026 | 599 | $321.0M | NVDA, SPY, BSMT, TLT, CLOA |
| Q4 2025 | 374 | $650.7M | MSFT, TSLA, NVDA, BSOL, AMZN |
| Q3 2025 | 116 | $1.2B | SEA LTD (SEALTD 2.375 12/01/25), TSLA, MSFT, TSM, AMZN |
| Q2 2025 | 307 | $312.7M | IBIT, FBTC, FETH, ETHA, ETH |
| Q1 2025 | 282 | $379.0M | MSFT, AAPL, META, TSLA, NVDA |
| Q4 2024 | 487 | $646.0M | AAPL, MSFT, NVDA, ETH, ETHW |
| Q3 2024 | 360 | $44.6M | BITB, CWB, ARKB, FCVT, CVRT |
| Q2 2024 | 184 | $146.8M | ARKB, BITB, CWB, VTEB, CVRT |
| Q1 2024Amended | 225 | $162.6M | BITB, ARKB, FBTC, CVRT, CWB |