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AAI

Aequim Alternative Investments Portfolio holdings

AUM $5.16B
1-Year Est. Return 9.8%
This Fund
S&P 500
This Quarter Est. Return
-1.15%
1 Year Est. Return
+9.8%
3 Year Est. Return
+24.55%
5 Year Est. Return
+43.05%
10 Year Est. Return
–
AUM
$2.53B
AUM Growth
-$597M
Cap. Flow
-$2.18B
Cap. Flow %
-86.18%
Top 10 Hldgs %
36.9%
Holding
96
New
6
Increased
9
Reduced
3
Closed
4

Top Buys

Rank Stock Value
1
PCG.PRX
PG&E Corp 6.000% Series A Preferred Stock
PCG.PRX
+$43.8M
2
BA.PRA
Boeing Co 6.00% Series A Preferred Stock
BA.PRA
+$23.9M
3
BTSGU icon
BrightSpring Health Services Unit
BTSGU
+$10.6M
4
SPOT icon
Spotify
SPOT
+$7.99M
5
K
Kellanova
K
+$4.31M

Top Sells

Rank Stock Value
1
OXY.WS icon
Occidental Petroleum Corp Warrants
OXY.WS
+$235M
2
EXEEZ
Expand Energy Corp Class B Warrants
EXEEZ
+$207M
3
EXEEW
Expand Energy Corp Class A Warrants
EXEEW
+$109M
4
FLR icon
Fluor
FLR
+$18.9M
5
ALB.PRA icon
Albemarle Corp Depositary Shares
ALB.PRA
+$13.8M

Sector Composition

Rank Sector Weight
1 Communication Services 1.8%
2 Consumer Discretionary 0.94%
3 Financials 0.84%
4 Industrials 0.53%
5 Technology 0.47%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EXEEL
1
DELISTED
Expand Energy Corp Class C Warrants
EXEEL
$116M 4.59%
1,154,388
-139,709
-11% -$12.8M
HPE.PRC
2
Hewlett Packard Enterprise 7.625% Series C Preferred Stock
HPE.PRC
$3.74B
$85.9M 3.4%
1,800,000
– –
BTSGU icon
3
BrightSpring Health Services Unit
BTSGU
$1.6B
$75.2M 2.98%
1,140,000
+150,000
+15% +$10.6M
PCG.PRX
4
PG&E Corp 6.000% Series A Preferred Stock
PCG.PRX
$1.37B
$59.6M 2.36%
1,350,000
+1,020,000
+309% +$43.8M
NEE.PRS
5
NextEra Energy 7.299% Corporate Units
NEE.PRS
$2.13B
$50.2M 1.99%
1,050,000
– –
GTLS.PRB
6
DELISTED
Chart Industries 6.75% Series B Preferred Stock
GTLS.PRB
$27.4M 1.08%
500,000
+50,000
+11% +$3.43M
ALB.PRA icon
7
Albemarle Corp Depositary Shares
ALB.PRA
$2.29B
$26.7M 1.06%
750,000
-350,000
-32% -$13.8M
CNK icon
8
Cinemark Holdings
CNK
$4.24B
$24.9M 0.99%
1,000,209
+40,413
+4% +$1.12M
BA.PRA
9
Boeing Co 6.00% Series A Preferred Stock
BA.PRA
$7.68B
$23.9M 0.95%
+400,000
New +$23.9M
CCL icon
10
Carnival Corporation Ltd
CCL
$38.1B
$19.6M 0.78%
1,004,704
– –
UBER icon
11
CALL
Uber
UBER
$143B
$18.2M 0.72%
250,000
– –
SPOT icon
12
Spotify
SPOT
$103B
$13.8M 0.54%
25,000
+14,300
+134% +$7.99M
FLR icon
13
Fluor
FLR
$7.01B
$13.4M 0.53%
375,318
-438,032
-54% -$18.9M
DFS
14
DELISTED
Discover Financial Services
DFS
$10.7M 0.42%
62,478
– –
EPR.PRC icon
15
EPR Properties 5.75% Series C Preferred Shares
EPR.PRC
$148M
$10.2M 0.4%
440,000
– –
COIN icon
16
Coinbase
COIN
$38.6B
$10.1M 0.4%
58,800
– –
SIRI icon
17
SiriusXM
SIRI
$9.98B
$6.61M 0.26%
293,124
– –
K
18
DELISTED
Kellanova
K
$4.33M 0.17%
+52,546
New +$4.31M
ETSY icon
19
Etsy
ETSY
$7.75B
$3.5M 0.14%
+74,126
New +$3.8M
RPAY icon
20
Repay Holdings
RPAY
$331M
$3.22M 0.13%
578,484
– –
PD icon
21
PagerDuty
PD
$816M
$2.98M 0.12%
163,300
– –
ALE
22
DELISTED
Allete
ALE
$2.53M 0.1%
38,525
+12,049
+46% +$789K
EPR.PRE icon
23
EPR Properties 9.00% Series E Preferred Shares
EPR.PRE
$113M
$2.09M 0.08%
69,492
+19,492
+39% +$571K
JAZZ icon
24
Jazz Pharmaceuticals
JAZZ
$15.9B
$2.07M 0.08%
16,700
– –
GCMGW
25
DELISTED
GCM Grosvenor Inc Warrant
GCMGW
$1.98M 0.08%
1,151,021
+66,021
+6% +$131K
1
2

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MIM
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AP
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PA
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BG
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MS
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TAM
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CIA
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Aequim Alternative Investments's Q1 2025 Portfolio in Review

As of Q1 2025, Aequim Alternative Investments held 96 positions worth $2.53B, down 19% from $3.12B the previous quarter. Its ten largest holdings account for 37% of the portfolio.

Aequim Alternative Investments withdrew a net $2.18B in Q1 2025, closing 4 positions and reducing 3 holdings. Its most notable exit was Occidental Petroleum Corp Warrants, an estimated $235M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 1.8% of assets, up from 1.3% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Aequim Alternative Investments opened a new position in Boeing Co 6.00% Series A Preferred Stock worth $23.9M.

  • Aequim Alternative Investments's largest Q1 2025 buy was Boeing Co 6.00% Series A Preferred Stock: 400,000 shares worth $23.9M.
  • Aequim Alternative Investments added most to PG&E Corp 6.000% Series A Preferred Stock in Q1 2025, an estimated $43.8M increase.
  • Aequim Alternative Investments's biggest Q1 2025 reduction was Fluor, cutting an estimated $18.9M.
  • Aequim Alternative Investments fully exited Occidental Petroleum Corp Warrants in Q1 2025, selling an estimated $235M.
  • Aequim Alternative Investments's ten largest holdings make up 37% of its $2.53B portfolio in Q1 2025.
  • Aequim Alternative Investments opened 6 new positions and closed 4 in Q1 2025.
  • Aequim Alternative Investments's portfolio value fell 19% quarter-over-quarter to $2.53B.

Based on Aequim Alternative Investments's 13F filing for Q1 2025, filed 13 May 2025.