AAI

Aequim Alternative Investments Portfolio holdings

AUM $2.51B

AUM

$2.51B

AUM Growth

-$600M (-19%)

Cap. Flow

+$60.6M

Cap. Flow % of AUM

2.42%

Top 10 Holdings %Top 10 Hldgs %

37.17%

Holding

111

New

6

Increased

9

Reduced

3

Closed

4

Top Buys

1	PCG.PRX PG&E Corporation 6.000% Series A Mandatory Convertible Preferred Stock PCG.PRX	$45M
2	BA.PRA The Boeing Company Depositary Shares, each representing a 1/20th interest in a share of 6.00% Series A Mandatory Convertible Preferred Stock, par value $1.00 BA.PRA	$23.9M
3	BrightSpring Health Services, Inc. Tangible Equity Unit BTSGU	$9.89M
4	Spotify SPOT	$7.87M
5	Kellanova K	$4.33M

Top Sells

1	Fluor FLR	$15.7M
2	EXEEL Expand Energy Corporation Class C Warrants EXEEL	$14M
3	Albemarle Corp Depositary Shares ALB.PRA	$12.5M

Sector Composition

1	Communication Services	1.82%
2	Consumer Discretionary	0.94%
3	Financials	0.85%
4	Industrials	0.54%
5	Technology	0.48%

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
26	26 Wolfspeed WOLF $226M	$1.93M	0.08%	630,885 +218,706	+53%	+$669K
27	27 Parsons PSN $7.07B	$1.73M	0.07%	29,300	–	–
28	28 Workiva WK $3.74B	$1.69M	0.07%	22,200	–	–
29	29 CompoSecure, Inc. Warrant CMPOW $572M	$897K	0.04%	231,114	–	–
30	30 Baxter International BAX $15.5B	$856K	0.03%	25,000	–	–
31	31 Cleveland-Cliffs CLF $3.21B	$600K	0.02%	73,000	–	–
32	32 OneMain Financial OMF $5.97B	$412K	0.02%	8,426	–	–
33	33 Cloudflare NET $54.8B	$372K	0.01%	3,300	New	+$372K
34	34 Goodyear GT $3.13B	$277K	0.01%	30,000	–	–
35	35 Ziff Davis ZD $1.3B	$264K	0.01%	7,033	–	–
36	36 O-I Glass OI $2.02B	$229K	0.01%	20,000	–	–
37	37 Algoma Steel Group Warrant ASTLW	$145K	0.01%	414,191	–	–
38	38 Butterfly Network, Inc. Redeemable Warrants, each whole warrant exercisable for one share of Class A common stock, each at an exercise price of $11.50 per share BFLY.WS $13.6M	$4.45K	0%	49,393	New	+$4.45K
39	39 Immatics N.V. Warrants IMTXW	$3.99K	0%	252,741	–	–
40	40 Adient ADNT $1.24B	$0	0%	0 -26,500	Closed	–
41	41 Occidental Petroleum Corporation Warrants to Purchase Common Stock OXY.WS $19B	$0	0%	0 -8,542,000	Closed	–
42	42 Uber UBER $184B	$0	0%	0	–	–
43	EXEEW 43 Expand Energy Corporation Class A Warrants EXEEW	$0	0%	0 -1,146,996	Closed	–
44	EXEEZ 44 Expand Energy Corporation Class B Warrants EXEEZ	$0	0%	0 -2,295,261	Closed	–