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Elequin Capital, LP

Q4 2025 · Filed 2026-02-17
Market Value
$634M
-26.7%
Holdings
388
+51
New Purchases
279
Added To
26
Closed
29
Reduced
30
Top 10 Concentration
82.8%
Turnover
79.4%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
BSOL 10.18% 0.00% +10.18% $65M
MSFT 19.06% 8.98% +10.08% $121M
NVDA 13.54% 3.60% +9.94% $86M
SPY 4.84% 0.08% +4.76% $31M
AMD 3.52% 0.40% +3.12% $22M
GSOL 2.51% 0.00% +2.51% $16M
AAPL 2.14% 0.00% +2.14% $14M
AVGO 2.73% 1.91% +0.82% $17M
XOVR 0.79% 0.00% +0.79% $5M
DFNM 0.75% 0.00% +0.75% $5M
FLMI 0.73% 0.12% +0.61% $5M
BSMR 0.58% 0.00% +0.58% $4M
HYMB 0.52% 0.01% +0.51% $3M
TAFM 0.35% 0.00% +0.35% $2M
MMIT 0.51% 0.17% +0.34% $3M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
TSM 0.12% 6.53% -6.41% $760K
IBIT 0.22% 6.25% -6.03% $1M
GOOGL 0.00% 5.62% -5.62% $0
COIN 0.69% 6.31% -5.62% $4M
FBTC 0.10% 5.53% -5.43% $610K
TSLA 18.87% 23.60% -4.73% $120M
LLY 0.00% 2.64% -2.64% $0
BTC 0.00% 2.11% -2.11% $0
BRRR 0.01% 2.10% -2.09% $63K
BITB 1.20% 2.83% -1.63% $8M
ARKB 0.01% 1.59% -1.58% $49K
PZA 0.00% 1.07% -1.07% $0
VTEB 0.00% 1.05% -1.05% $0
CWB 0.00% 0.94% -0.94% $0
AMZN 5.46% 6.34% -0.88% $35M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 18 $450M 71.0%
Large Cap 109 $20M 3.1%
Mid Cap 144 $29M 4.6%
Small Cap 89 $36M 5.7%
Micro Cap 28 $99M 15.6%

Portfolio Analytics

Avg Market Cap
$97.6B
Median Market Cap
$4.5B
Avg P/E
48.5
Median P/E
30.2
Avg Dividend Yield
0.01%
Avg Beta
1.20
# Stocks
273
# ETFs / Funds
115

Top Holdings (388 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 MSFT 19.06% 250,007 $121M $483.62 $43M +100,007 +66.7%
2 TSLA 18.87% 266,109 $120M $449.72 -$85M -193,168 -42.1%
3 NVDA 13.54% 460,680 $86M $186.50 $55M +293,503 +175.6%
4 BSOL 10.18% 3,935,600 $65M $16.40 +3,935,600 NEW
5 AMZN 5.46% 150,000 $35M $230.82 -$20M -100,000 -40.0%
6 SPY 4.84% 45,019 $31M $681.92 $30M +44,038 +4489.1%
7 AMD 3.52% 104,185 $22M $214.16 $19M +82,735 +385.7%
8 AVGO 2.73% 50,000 $17M $346.10 $810K
9 GSOL 2.51% 1,750,605 $16M $9.10 +1,750,605 NEW
10 AAPL 2.14% 50,001 $14M $271.86 $14M +50,000 +5000000.0%
11 BITB 1.20% 160,000 $8M $47.56 -$17M -233,733 -59.4%
12 JMST 1.13% 140,871 $7M $50.94 -$5M -106,330 -43.0%
13 XOVR 0.79% 250,000 $5M $20.14 +250,000 NEW
14 DFNM 0.75% 99,324 $5M $48.17 $5M +99,224 +99224.0%
15 FLMI 0.73% 186,702 $5M $24.87 $4M +143,459 +331.8%
16 MSTR 0.72% 29,957 $5M $151.95 -$5M -837 -2.7%
17 COIN 0.69% 19,386 $4M $226.14 -$50M -142,339 -88.0%
18 BSMR 0.58% 155,296 $4M $23.67 +155,296 NEW
19 PLTR 0.54% 19,369 $3M $177.75 $457K +3,000 +18.3%
20 HYMB 0.52% 132,744 $3M $24.94 $3M +128,029 +2715.4%
21 MMIT 0.51% 134,234 $3M $24.33 $2M +73,196 +119.9%
22 JMSI 0.37% 46,481 $2M $50.38 $1M +26,943 +137.9%
23 BSSX 0.36% 87,759 $2M $25.86 $2M +68,663 +359.6%
24 TAFM 0.35% 88,061 $2M $25.42 +88,061 NEW
25 BSMZ 0.34% 85,314 $2M $25.44 +85,314 NEW
26 VSOL 0.33% 130,000 $2M $16.17 +130,000 NEW
27 BSMT 0.28% 77,936 $2M $23.15 $868K +37,423 +92.4%
28 DFCA 0.27% 34,156 $2M $50.08 +34,156 NEW
29 BSMV 0.24% 72,685 $2M $21.13 $1M +59,933 +470.0%
30 SMMU 0.23% 29,419 $1M $50.43 $1M +22,197 +307.4%
31 PWZ 0.23% 60,957 $1M $24.16 $1M +52,138 +591.2%
32 CALI 0.23% 29,065 $1M $50.46 -$31K -485 -1.6%
33 BSMU 0.23% 65,980 $1M $22.03 +65,980 NEW
34 IBIT 0.22% 27,955 $1M $49.65 -$53M -803,728 -96.6%
35 BSMQ 0.21% 55,747 $1M $23.65 +55,747 NEW
36 IWD 0.21% 6,204 $1M $210.34 $530K +2,399 +63.0%
37 TLTW 0.19% 54,389 $1M $22.67 +54,389 NEW
38 MINO 0.19% 26,579 $1M $45.32 $767K +16,922 +175.2%
39 MMIN 0.19% 49,371 $1M $23.94 $584K +24,265 +96.7%
40 SMCI 0.17% 36,229 $1M $29.27 -$7M -121,845 -77.1%
41 FSMB 0.16% 51,965 $1M $20.04 -$14K -618 -1.2%
42 SCMB 0.14% 35,552 $916K $25.76 -$596K -23,468 -39.8%
43 GDX 0.14% 10,328 $886K $85.77 +10,328 NEW
44 CAIE 0.14% 33,015 $883K $26.74 +33,015 NEW
45 BSMW 0.14% 34,885 $876K $25.11 -$920K -37,022 -51.5%
46 JMUB 0.14% 17,308 $874K $50.50 -$5M -104,382 -85.8%
47 FMB 0.14% 17,027 $871K $51.14 +17,027 NEW
48 FTHI 0.13% 34,384 $812K $23.62 +34,384 NEW
49 MUNI 0.13% 15,484 $812K $52.41 -$1M -28,241 -64.6%
50 BSMY 0.13% 32,887 $808K $24.58 -$656K -27,306 -45.4%
51 MEAR 0.13% 15,782 $794K $50.32 +15,782 NEW
52 IBMR 0.12% 30,406 $773K $25.43 $17K +799 +2.7%
53 TSM 0.12% 2,500 $760K $303.89 -$56M -200,000 -98.8%
54 FCVT 0.12% 17,504 $753K $43.03 $382K +8,826 +101.7%
55 META 0.10% 1,000 $660K $660.09 -$70K +6 +0.6%
56 SHYM 0.10% 28,492 $633K $22.22 $572K +25,774 +948.3%
57 FBTC 0.10% 8,000 $610K $76.23 -$47M -471,372 -98.3%
58 GLD 0.09% 1,500 $594K $396.31 +1,500 NEW
59 SO 0.09% 6,510 $568K $87.20 +6,510 NEW
60 BNDX 0.09% 11,439 $553K $48.32 +11,439 NEW
61 INMU 0.08% 22,316 $536K $24.04 -$270K -11,399 -33.8%
62 JMHI 0.08% 10,274 $516K $50.25 -$209K -4,095 -28.5%
63 BMAX 0.08% 20,670 $476K $23.04 $476K +20,655 +137700.0%
64 CGMU 0.07% 16,050 $439K $27.38 $251K +9,142 +132.3%
65 VNM 0.06% 20,000 $382K $19.08 +20,000 NEW
66 CLOB 0.06% 6,963 $353K $50.67 -$11K -173 -2.4%
67 BA 0.06% 1,610 $350K $217.12 +1,610 NEW
68 FMHI 0.05% 7,105 $341K $47.93 -$1M -23,662 -76.9%
69 CGSM 0.05% 11,862 $312K $26.34 -$653K -24,765 -67.6%
70 LITE 0.04% 743 $274K $368.59 +743 NEW
71 HPE 0.04% 9,892 $238K $24.02 +9,892 NEW
72 VMBS 0.03% 4,700 $221K $47.08 +4,700 NEW
73 ALB 0.03% 1,556 $220K $141.44 +1,556 NEW
74 CLOI 0.03% 4,084 $216K $52.81 -$1K
75 WDC 0.03% 1,216 $209K $172.27 +1,216 NEW
76 FEMB 0.03% 6,086 $181K $29.80 $3K
77 BABA 0.03% 1,235 $181K $146.58 +1,235 NEW
78 IBMO 0.03% 6,995 $179K $25.64 +6,995 NEW
79 IBMP 0.02% 6,044 $153K $25.39 +6,044 NEW
80 FTQI 0.02% 6,506 $135K $20.82 -$157K -7,687 -54.2%
81 SMCY 0.02% 15,000 $122K $8.10 +15,000 NEW
82 HEFA 0.02% 2,789 $115K $41.36 -$3K -202 -6.8%
83 PULS 0.02% 2,300 $114K $49.59 $99K +2,000 +666.7%
84 ASML 0.02% 100 $107K $1,069.86 $10K
85 AMJB 0.02% 3,427 $103K $29.91 +3,427 NEW
86 APO 0.02% 678 $98K $144.76 +678 NEW
87 LYV 0.01% 645 $92K $142.50 +645 NEW
88 WELL 0.01% 486 $90K $185.61 +486 NEW
89 STX 0.01% 325 $90K $275.39 +325 NEW
90 POWR 0.01% 3,342 $79K $23.53 -$5K
91 YNDX 0.01% 926 $78K $83.71 +926 NEW
92 IREN 0.01% 2,030 $77K $37.77 +2,030 NEW
93 SOFI 0.01% 2,689 $70K $26.18 +2,689 NEW
94 SNOW 0.01% 320 $70K $219.36 +320 NEW
95 BRRR 0.01% 2,549 $63K $24.73 -$18M -559,464 -99.5%
96 RIVN 0.01% 3,187 $63K $19.71 +3,187 NEW
97 AKAM 0.01% 658 $57K $87.25 +658 NEW
98 CVRT 0.01% 1,497 $57K $38.11 -$39K -1,160 -43.7%
99 FOUR 0.01% 903 $57K $62.97 +903 NEW
100 IONS 0.01% 711 $56K $79.11 +711 NEW

Options Breakdown

9 Calls $87M Call Value 16 Puts $493M Put Value 5.69 P/C Ratio

Top Calls

SymbolSharesValueStatus
NVDA 300,000 $56M NEW
TSLA 50,000 $22M NEW
IBIT 130,000 $6M
META 1,500 $990K
AMD 2,000 $428K
XOM 3,000 $361K
GOOGL $0 SOLD
MSFT $0 SOLD
ETHA $0 SOLD

Top Puts

SymbolSharesValueStatus
NVDA 760,000 $142M
TSLA 310,000 $139M
MSFT 250,000 $121M
AMZN 150,000 $35M
AMD 106,000 $23M
AVGO 50,000 $17M
AAPL 50,000 $14M NEW
META 2,500 $2M
TSM 2,500 $760K
ASML 100 $107K

New Positions

SymbolValue% Port
BSOL $65M 10.18%
GSOL $16M 2.51%
XOVR $5M 0.79%
BSMR $4M 0.58%
TAFM $2M 0.35%
BSMZ $2M 0.34%
VSOL $2M 0.33%
DFCA $2M 0.27%
BSMU $1M 0.23%
BSMQ $1M 0.21%
TLTW $1M 0.19%
GDX $886K 0.14%
CAIE $883K 0.14%
FMB $871K 0.14%
FTHI $812K 0.13%

Sold Out Positions

SymbolValue% Port
APO-PA —%
LLY —%
JEPQ —%
ETHA —%
MLN —%
BINC —%
BTC —%
ICVT —%
VTES —%
ARKK —%
EIS —%
ETH —%
VTEB —%
GDE —%
JBBB —%
View SEC EDGAR Filings for Elequin Capital, LP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms