ELEQUIN CAPITAL, LP

Filed: 8/11/2025ACC: 0001420506-25-001809

📋 What this filing means

ELEQUIN CAPITAL, LP filed this quarterly 13F‑HR report disclosing 336 equity positions with a total reported market value of $763.90M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

336

Positions

$763.90M

Total AUM (reported)

144.20M

Total Shares

Allocation by class

DBCV 2.750% 6/0$192.58M25.2%

SHS BEN INT$90.35M11.8%

SHS$80.19M10.5%

NOTE 4.500% 8/1$74.26M9.7%

UNIT 09/01/2025$45.04M5.9%

NOTE 0.375% 9/0$41.68M5.5%

COM$40.61M5.3%

Portfolio Concentration

Top 3$343.70M45.0%

4–10$211.85M27.7%

11–25$91.53M12.0%

Rest$116.82M15.3%

Top 3 weight

45.0%

Top 10 weight

72.7%

Voting Authority Distribution

Total shares with voting rights: 144.20M

Sole

Full voting authority

8.68M

% of voting shares6.0%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

135.52M

% of voting shares94.0%

Investment Discretion (by position count)

Sole336

Shared0

Other0

Dominant voting typeNone · 94.0% of voting shares

Institutional Holdings336

Rows:

NRG ENERGY INC

SOLE

DBCV 2.750% 6/0

Shares49.19M

TypePRN

Market value$192.58M

25.21%

Sole

0.00

Shared

0.00

None

49.19M

ISHARES BITCOIN TRUST ETF

SOLE

SHS BEN INT

Shares1.26M

TypeSH

Market value$76.86M

10.06%

Sole

1.26M

Shared

0.00

None

0.00

CINEMARK HLDGS INC

SOLE

NOTE 4.500% 8/1

Shares35M

TypePRN

Market value$74.26M

9.72%

Sole

0.00

Shared

0.00

None

35M

NEXTERA ENERGY INC

SOLE

UNIT 09/01/2025

Shares1.13M

TypeSH

Market value$45.04M

5.90%

Sole

0.00

Shared

0.00

None

1.13M

INSULET CORP

SOLE

NOTE 0.375% 9/0

Shares29.60M

TypePRN

Market value$41.68M

5.46%

Sole

0.00

Shared

0.00

None

29.60M

FIDELITY WISE ORIGIN BITCOIN

SOLE

SHS

Shares390.01K

TypeSH

Market value$36.66M

4.80%

Sole

390.01K

Shared

0.00

None

0.00

ROYAL CARIBBEAN GROUP

SOLE

NOTE 6.000% 8/1

Shares5.38M

TypePRN

Market value$33.97M

4.45%

Sole

0.00

Shared

0.00

None

5.38M

VARONIS SYS INC

SOLE

NOTE 1.250% 8/1

Shares12.65M

TypePRN

Market value$20.94M

2.74%

Sole

0.00

Shared

0.00

None

12.65M

FIDELITY ETHEREUM FD

SOLE

SHS

Shares793.75K

TypeSH

Market value$19.98M

2.62%

Sole

793.75K

Shared

0.00

None

0.00

ISHARES ETHEREUM TR

SOLE

SHS

Shares712.50K

TypeSH

Market value$13.59M

1.78%

Sole

712.50K

Shared

0.00

None

0.00

GRAYSCALE ETHEREUM MINI TR E

SOLE

SHS NEW

Shares539.98K

TypeSH

Market value$12.81M

1.68%

Sole

539.98K

Shared

0.00

None

0.00

ARK 21SHARES BITCOIN ETF

SOLE

SHS BEN INT

Shares280.83K

TypeSH

Market value$10.05M

1.32%

Sole

280.83K

Shared

0.00

None

0.00

BITWISE ETHEREUM ETF

SOLE

SHS

Shares462.02K

TypeSH

Market value$8.34M

1.09%

Sole

462.02K

Shared

0.00

None

0.00

TESLA INC

SOLE

COM

Shares23.86K

TypeSH

Market value$7.58M

0.99%

Sole

23.86K

Shared

0.00

None

0.00

SPDR SERIES TRUST

SOLE

BBG CONV SEC ETF

Shares86.50K

TypeSH

Market value$7.15M

0.94%

Sole

86.50K

Shared

0.00

None

0.00

GRAYSCALE BITCOIN MINI TR ET

SOLE

SHS NEW

Shares135.92K

TypeSH

Market value$6.49M

0.85%

Sole

135.92K

Shared

0.00

None

0.00

ALPHABET INC

SOLE

CAP STK CL A

Shares35.44K

TypeSH

Market value$6.25M

0.82%

Sole

35.44K

Shared

0.00

None

0.00

MICROSTRATEGY INC

SOLE

CL A NEW

Shares13.11K

TypeSH

Market value$5.30M

0.69%

Sole

13.11K

Shared

0.00

None

0.00

SUPER MICRO COMPUTER INC

SOLE

COM NEW

Shares100.80K

TypeSH

Market value$4.94M

0.65%

Sole

100.80K

Shared

0.00

None

0.00

J P MORGAN EXCHANGE TRADED F

SOLE

ULTRA SHT MUNCPL

Shares88K

TypeSH

Market value$4.48M

0.59%

Sole

88K

Shared

0.00

None

0.00

META PLATFORMS INC

SOLE

CL A

Shares5.87K

TypeSH

Market value$4.33M

0.57%

Sole

5.87K

Shared

0.00

None

0.00

PALANTIR TECHNOLOGIES INC

SOLE

CL A

Shares30.58K

TypeSH

Market value$4.17M

0.55%

Sole

30.58K

Shared

0.00

None

0.00

VOLATILITY SHS TR

SOLE

2X ETHER ETF NEW

Shares65K

TypeSH

Market value$3.68M

0.48%

Sole

65K

Shared

0.00

None

0.00

VANGUARD MUN BD FDS

SOLE

SHORT TAX EXEMPT

Shares39.92K

TypeSH

Market value$3.02M

0.40%

Sole

39.92K

Shared

0.00

None

0.00

INNOVIVA INC

SOLE

NOTE 2.500% 8/1

Shares2.50M

TypePRN

Market value$2.94M

0.39%

Sole

0.00

Shared

0.00

None

2.50M

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
NRG ENERGY INCSOLE	DBCV 2.750% 6/0	49.19M	PRN	$192.58M 25.21%	0.00	49.19M
ISHARES BITCOIN TRUST ETFSOLE	SHS BEN INT	1.26M	SH	$76.86M 10.06%	1.26M	0.00
CINEMARK HLDGS INCSOLE	NOTE 4.500% 8/1	35M	PRN	$74.26M 9.72%	0.00	35M
NEXTERA ENERGY INCSOLE	UNIT 09/01/2025	1.13M	SH	$45.04M 5.90%	0.00	1.13M
INSULET CORPSOLE	NOTE 0.375% 9/0	29.60M	PRN	$41.68M 5.46%	0.00	29.60M
FIDELITY WISE ORIGIN BITCOINSOLE	SHS	390.01K	SH	$36.66M 4.80%	390.01K	0.00
ROYAL CARIBBEAN GROUPSOLE	NOTE 6.000% 8/1	5.38M	PRN	$33.97M 4.45%	0.00	5.38M
VARONIS SYS INCSOLE	NOTE 1.250% 8/1	12.65M	PRN	$20.94M 2.74%	0.00	12.65M
FIDELITY ETHEREUM FDSOLE	SHS	793.75K	SH	$19.98M 2.62%	793.75K	0.00
ISHARES ETHEREUM TRSOLE	SHS	712.50K	SH	$13.59M 1.78%	712.50K	0.00
GRAYSCALE ETHEREUM MINI TR ESOLE	SHS NEW	539.98K	SH	$12.81M 1.68%	539.98K	0.00
ARK 21SHARES BITCOIN ETFSOLE	SHS BEN INT	280.83K	SH	$10.05M 1.32%	280.83K	0.00
BITWISE ETHEREUM ETFSOLE	SHS	462.02K	SH	$8.34M 1.09%	462.02K	0.00
TESLA INCSOLE	COM	23.86K	SH	$7.58M 0.99%	23.86K	0.00
SPDR SERIES TRUSTSOLE	BBG CONV SEC ETF	86.50K	SH	$7.15M 0.94%	86.50K	0.00
GRAYSCALE BITCOIN MINI TR ETSOLE	SHS NEW	135.92K	SH	$6.49M 0.85%	135.92K	0.00
ALPHABET INCSOLE	CAP STK CL A	35.44K	SH	$6.25M 0.82%	35.44K	0.00
MICROSTRATEGY INCSOLE	CL A NEW	13.11K	SH	$5.30M 0.69%	13.11K	0.00
SUPER MICRO COMPUTER INCSOLE	COM NEW	100.80K	SH	$4.94M 0.65%	100.80K	0.00
J P MORGAN EXCHANGE TRADED FSOLE	ULTRA SHT MUNCPL	88K	SH	$4.48M 0.59%	88K	0.00
META PLATFORMS INCSOLE	CL A	5.87K	SH	$4.33M 0.57%	5.87K	0.00
PALANTIR TECHNOLOGIES INCSOLE	CL A	30.58K	SH	$4.17M 0.55%	30.58K	0.00
VOLATILITY SHS TRSOLE	2X ETHER ETF NEW	65K	SH	$3.68M 0.48%	65K	0.00
VANGUARD MUN BD FDSSOLE	SHORT TAX EXEMPT	39.92K	SH	$3.02M 0.40%	39.92K	0.00
INNOVIVA INCSOLE	NOTE 2.500% 8/1	2.50M	PRN	$2.94M 0.39%	0.00	2.50M

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