FLOW STATE INVESTMENTS, L.P.

Filed: 11/14/2024ACC: 0001850755-24-000004

📋 What this filing means

FLOW STATE INVESTMENTS, L.P. filed this quarterly 13F‑HR report disclosing 44 equity positions with a total reported market value of $244.51M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

Positions

$244.51M

Total AUM (reported)

94.82M

Total Shares

Allocation by class

COM$75.82M31.0%

NOTE 3.500% 6/0$20.81M8.5%

SHS$15.13M6.2%

COMMON STOCK$13.16M5.4%

NOTE 0.750% 5/0$11.20M4.6%

NOTE 0.125% 5/0$10.21M4.2%

7.625 MAND CONV$9.08M3.7%

Portfolio Concentration

Top 3$71.61M29.3%

4–10$68.88M28.2%

11–25$85.81M35.1%

Rest$18.21M7.4%

Top 3 weight

29.3%

Top 10 weight

57.5%

Voting Authority Distribution

Total shares with voting rights: 94.35M

Sole

Full voting authority

94.35M

% of voting shares100.0%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

0.00

% of voting shares0.0%

Investment Discretion (by position count)

Sole44

Shared0

Other0

Dominant voting typeSole · 100.0% of voting shares

Institutional Holdings44

Rows:

HESS CORP

SOLE

COM

Shares319K

TypeSH

Market value$43.32M

17.72%

Sole

319K

Shared

0.00

None

0.00

CAPRI HOLDINGS LIMITED

SOLE

SHS

Shares356.51K

TypeSH

Market value$15.13M

6.19%

Sole

280.71K

Shared

0.00

None

0.00

ALBERTSONS COS INC

SOLE

COMMON STOCK

Shares712.18K

TypeSH

Market value$13.16M

5.38%

Sole

454.18K

Shared

0.00

None

0.00

SEAGATE HDD CAYMAN

SOLE

NOTE 3.500% 6/0

Shares8M

TypePRN

Market value$11.52M

4.71%

Sole

Shared

0.00

None

0.00

BOOKING HOLDINGS INC

SOLE

NOTE 0.750% 5/0

Shares5M

TypePRN

Market value$11.20M

4.58%

Sole

Shared

0.00

None

0.00

AKAMAI TECHNOLOGIES INC

SOLE

NOTE 0.125% 5/0

Shares9.15M

TypePRN

Market value$10.21M

4.18%

Sole

9.15M

Shared

0.00

None

0.00

INTERDIGITAL INC

SOLE

NOTE 3.500% 6/0

Shares5M

TypePRN

Market value$9.28M

3.80%

Sole

Shared

0.00

None

0.00

HEWLETT PACKARD ENTERPRISE C

SOLE

7.625 MAND CONV

Shares150K

TypeSH

Market value$9.08M

3.71%

Sole

150K

Shared

0.00

None

0.00

ROYAL CARIBBEAN GROUP

SOLE

NOTE 6.000% 8/1

Shares2.50M

TypePRN

Market value$8.95M

3.66%

Sole

2.50M

Shared

0.00

None

0.00

EXPEDIA GROUP INC

SOLE

NOTE 2/1

Shares9M

TypePRN

Market value$8.64M

3.53%

Sole

Shared

0.00

None

0.00

INSULET CORP

SOLE

NOTE 0.375% 9/0

Shares7M

TypePRN

Market value$8.38M

3.43%

Sole

Shared

0.00

None

0.00

BENTLEY SYS INC

SOLE

NOTE 0.375% 7/0

Shares9M

TypePRN

Market value$8.34M

3.41%

Sole

Shared

0.00

None

0.00

MIDDLEBY CORP

SOLE

NOTE 1.000% 9/0

Shares7M

TypePRN

Market value$8.07M

3.30%

Sole

Shared

0.00

None

0.00

AVANGRID INC

SOLE

COM

Shares225K

TypeSH

Market value$8.05M

3.29%

Sole

225K

Shared

0.00

None

0.00

SHIFT4 PMTS INC

SOLE

NOTE 0.500% 8/0

Shares7.50M

TypePRN

Market value$7.75M

3.17%

Sole

7.50M

Shared

0.00

None

0.00

SOUTHWESTERN ENERGY CO

SOLE

COM

Shares990K

TypeSH

Market value$7.04M

2.88%

Sole

990K

Shared

0.00

None

0.00

LUMENTUM HLDGS INC

SOLE

NOTE 1.500%12/1

Shares5M

TypePRN

Market value$5.80M

2.37%

Sole

Shared

0.00

None

0.00

KELLANOVA

SOLE

COM

Shares69K

TypeSH

Market value$5.57M

2.28%

Sole

0.00

Shared

0.00

None

0.00

CMS ENERGY CORP

SOLE

NOTE 3.375% 5/0

Shares5M

TypePRN

Market value$5.38M

2.20%

Sole

Shared

0.00

None

0.00

DEXCOM INC

SOLE

NOTE 0.375% 5/1

Shares5M

TypePRN

Market value$4.44M

1.81%

Sole

Shared

0.00

None

0.00

NCL CORP LTD

SOLE

NOTE 1.125% 2/1

Shares4M

TypePRN

Market value$3.89M

1.59%

Sole

Shared

0.00

None

0.00

UL SOLUTIONS INC

SOLE

CLASS A COM SHS

Shares75.20K

TypeSH

Market value$3.71M

1.52%

Sole

65.20K

Shared

0.00

None

0.00

INVESTCORP EUROPE ACQUISITIO

SOLE

CLASS A ORD SHS

Shares285.37K

TypeSH

Market value$3.36M

1.38%

Sole

285.37K

Shared

0.00

None

0.00

SSGA ACTIVE ETF TR

SOLE

BLACKSTONE SENR

Shares79.30K

TypeSH

Market value$3.31M

1.35%

Sole

79.30K

Shared

0.00

None

0.00

RIVIAN AUTOMOTIVE INC

SOLE

NOTE 4.625% 3/1

Shares3M

TypePRN

Market value$2.72M

1.11%

Sole

Shared

0.00

None

0.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole
HESS CORPSOLE	COM	319K	SH	$43.32M 17.72%	319K
CAPRI HOLDINGS LIMITEDSOLE	SHS	356.51K	SH	$15.13M 6.19%	280.71K
ALBERTSONS COS INCSOLE	COMMON STOCK	712.18K	SH	$13.16M 5.38%	454.18K
SEAGATE HDD CAYMANSOLE	NOTE 3.500% 6/0	8M	PRN	$11.52M 4.71%	8M
BOOKING HOLDINGS INCSOLE	NOTE 0.750% 5/0	5M	PRN	$11.20M 4.58%	5M
AKAMAI TECHNOLOGIES INCSOLE	NOTE 0.125% 5/0	9.15M	PRN	$10.21M 4.18%	9.15M
INTERDIGITAL INCSOLE	NOTE 3.500% 6/0	5M	PRN	$9.28M 3.80%	5M
HEWLETT PACKARD ENTERPRISE CSOLE	7.625 MAND CONV	150K	SH	$9.08M 3.71%	150K
ROYAL CARIBBEAN GROUPSOLE	NOTE 6.000% 8/1	2.50M	PRN	$8.95M 3.66%	2.50M
EXPEDIA GROUP INCSOLE	NOTE 2/1	9M	PRN	$8.64M 3.53%	9M
INSULET CORPSOLE	NOTE 0.375% 9/0	7M	PRN	$8.38M 3.43%	7M
BENTLEY SYS INCSOLE	NOTE 0.375% 7/0	9M	PRN	$8.34M 3.41%	9M
MIDDLEBY CORPSOLE	NOTE 1.000% 9/0	7M	PRN	$8.07M 3.30%	7M
AVANGRID INCSOLE	COM	225K	SH	$8.05M 3.29%	225K
SHIFT4 PMTS INCSOLE	NOTE 0.500% 8/0	7.50M	PRN	$7.75M 3.17%	7.50M
SOUTHWESTERN ENERGY COSOLE	COM	990K	SH	$7.04M 2.88%	990K
LUMENTUM HLDGS INCSOLE	NOTE 1.500%12/1	5M	PRN	$5.80M 2.37%	5M
KELLANOVASOLE	COM	69K	SH	$5.57M 2.28%	0.00
CMS ENERGY CORPSOLE	NOTE 3.375% 5/0	5M	PRN	$5.38M 2.20%	5M
DEXCOM INCSOLE	NOTE 0.375% 5/1	5M	PRN	$4.44M 1.81%	5M
NCL CORP LTDSOLE	NOTE 1.125% 2/1	4M	PRN	$3.89M 1.59%	4M
UL SOLUTIONS INCSOLE	CLASS A COM SHS	75.20K	SH	$3.71M 1.52%	65.20K
INVESTCORP EUROPE ACQUISITIOSOLE	CLASS A ORD SHS	285.37K	SH	$3.36M 1.38%	285.37K
SSGA ACTIVE ETF TRSOLE	BLACKSTONE SENR	79.30K	SH	$3.31M 1.35%	79.30K
RIVIAN AUTOMOTIVE INCSOLE	NOTE 4.625% 3/1	3M	PRN	$2.72M 1.11%	3M

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