Elequin Capital, LP Form 13F-HR Filed 2025-05-13

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
Expires:	July 31, 2015
Estimated average burden
hours per response:		23.8

COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
21SHARES CORE ETHEREUM ETF	SHS	04071F102	72,925	7,983	SH		SOLE		7,983	0	0
ABBOTT LABS	COM	002824100	30,244	228	SH		SOLE		228	0	0
ABRDN ASIA PACIFIC INCOME FU	COM NEW	003009867	2,324	148	SH		SOLE		148	0	0
ABRDN INCOME CREDIT STRATEGI	COM	003057106	15,803	2,683	SH		SOLE		2,683	0	0
ABRDN NATL MUN INCOME FD	SH BEN INT	24610T108	19,722	1,945	SH		SOLE		1,945	0	0
ADAM NAT RES FD INC	COM	00548F105	80,770	3,541	SH		SOLE		3,541	0	0
ADVANCED MICRO DEVICES INC	COM	007903107	102,740	1,000	SH	Call	SOLE		1,000	0	0
ADVANCED MICRO DEVICES INC	COM	007903107	2,414,390	23,500	SH	Put	SOLE		23,500	0	0
ADVANCED MICRO DEVICES INC	COM	007903107	811,441	7,898	SH		SOLE		7,898	0	0
AFFILIATED MANAGERS GROUP IN	COM	008252108	2,857	17	SH		SOLE		17	0	0
AGNICO EAGLE MINES LTD	COM	008474108	45,424	419	SH		SOLE		419	0	0
AIR TRANS SVCS GROUP INC	NOTE 3.875% 8/1	00922RAD7	2,002,200	2,000,000	PRN		SOLE		0	0	2,000,000
AIRBNB INC	COM CL A	009066101	358,380	3,000	SH	Call	SOLE		3,000	0	0
AIRBNB INC	COM CL A	009066101	203,082	1,700	SH	Put	SOLE		1,700	0	0
ALBEMARLE CORP	COM	012653101	13,180	183	SH		SOLE		183	0	0
ALLSPRING MULTI SECTOR INCOM	COM	94987D101	14,125	1,532	SH		SOLE		1,532	0	0
ALPHABET INC	CAP STK CL A	02079K305	3,015,480	19,500	SH	Call	SOLE		19,500	0	0
ALPHABET INC	CAP STK CL A	02079K305	4,948,480	32,000	SH	Put	SOLE		32,000	0	0
ALPHABET INC	CAP STK CL A	02079K305	64,021	414	SH		SOLE		414	0	0
ALPS ETF TR	ALERIAN MLP	00162Q452	338,649	6,520	SH		SOLE		6,520	0	0
ALTRIA GROUP INC	COM	02209S103	15,485	258	SH		SOLE		258	0	0
AMAZON COM INC	COM	023135106	703,962	3,700	SH	Call	SOLE		3,700	0	0
AMAZON COM INC	COM	023135106	6,392,736	33,600	SH	Put	SOLE		33,600	0	0
APOLLO GLOBAL MGMT INC	COM	03769M106	7,395	54	SH		SOLE		54	0	0
APPLE INC	COM	037833100	61,752,140	278,000	SH	Put	SOLE		278,000	0	0
APPLE INC	COM	037833100	60,918,708	274,248	SH		SOLE		274,248	0	0
APPLIED MATLS INC	COM	038222105	986,816	6,800	SH	Put	SOLE		6,800	0	0
ARES CAPITAL CORP	COM	04010L103	30,204	1,363	SH		SOLE		1,363	0	0
ARES DYNAMIC CR ALLOCATION F	COM	04014F102	47,782	3,384	SH		SOLE		3,384	0	0
ARES MANAGEMENT CORPORATION	6.75 SE B PFD	03990B309	710,160	15,000	SH		SOLE		15,000	0	0
ARK 21SHARES BITCOIN ETF	SHS BEN INT	040919102	24,496	298	SH		SOLE		298	0	0
ASML HOLDING N V	N Y REGISTRY SHS	N07059210	145,116	219	SH		SOLE		219	0	0
BANK AMERICA CORP	COM	060505104	501	12	SH		SOLE		12	0	0
BARCLAYS PLC	ADR	06738E204	29,891	1,946	SH		SOLE		1,946	0	0
BARINGS GLOBAL SHORT DURATIO	COM	06760L100	77,959	5,156	SH		SOLE		5,156	0	0
BITWISE BITCOIN ETF TR	SHS BEN INT	09174C104	72,122	1,607	SH		SOLE		1,607	0	0
BITWISE ETHEREUM ETF	SHS	091955104	26,568	2,025	SH		SOLE		2,025	0	0
BLACKROCK CALIF MUN INCOME T	SH BEN INT	09248E102	75,389	6,866	SH		SOLE		6,866	0	0
BLACKROCK CAP ALLOCATION TER	COM	09260U109	496,282	34,464	SH		SOLE		34,464	0	0
BLACKROCK CORPOR HI YLD FD I	COM	09255P107	43,292	4,519	SH		SOLE		4,519	0	0
BLACKROCK ENERGY & RES TR	COM	09250U101	86,301	6,355	SH		SOLE		6,355	0	0
BLACKROCK ENHANCED EQUITY DI	COM	09251A104	284,488	33,080	SH		SOLE		33,080	0	0
BLACKROCK ENHANCED INTL DIV	COM BENE INTER	092524107	90,360	16,107	SH		SOLE		16,107	0	0
BLACKROCK ENHANCED LARGE CAP	COM	09256A109	136,918	7,413	SH		SOLE		7,413	0	0
BLACKROCK ESG CAP ALLC TERM	SHS BEN INT	09262F100	360,092	22,834	SH		SOLE		22,834	0	0
BLACKROCK ETF TRUST II	ISHARES HIGH YIE	092528108	622,292	27,450	SH		SOLE		27,450	0	0
BLACKROCK HEALTH SCIENCES TE	COM SHS	09260E105	105,477	7,079	SH		SOLE		7,079	0	0
BLACKROCK HEALTH SCIENCES TR	COM	09250W107	87,404	2,262	SH		SOLE		2,262	0	0
BLACKROCK LONG-TERM MUN ADVA	COM	09250B103	15,998	1,651	SH		SOLE		1,651	0	0
BLACKROCK LTD DURATION INCOM	COM SHS	09249W101	8,936	632	SH		SOLE		632	0	0
BLACKROCK MULTI SECTOR INC T	COM	09258A107	139,775	9,653	SH		SOLE		9,653	0	0
BLACKROCK MUN INCOME QUALITY	COM	092479104	63,106	5,854	SH		SOLE		5,854	0	0
BLACKROCK MUNIHLDGS NY QLTY	COM	09255C106	2,598	256	SH		SOLE		256	0	0
BLACKROCK MUNIHOLDINGS QUALI	COM	09254C107	38,000	3,800	SH		SOLE		3,800	0	0
BLACKROCK MUNIYIELD MICH QU	COM	09254V105	28,837	2,534	SH		SOLE		2,534	0	0
BLACKROCK SCIENCE & TECHNOLO	SHS	09258G104	19,893	603	SH		SOLE		603	0	0
BLACKROCK UTILS INFRASTRUCTU	COM	09248D104	11,428	505	SH		SOLE		505	0	0
BLACKSTONE LONG SHORT CR INC	COM SHS BN INT	09257D102	22,242	1,801	SH		SOLE		1,801	0	0
BLACKSTONE STRATEGIC CRED 20	COM SHS BEN IN	09257R101	18,108	1,499	SH		SOLE		1,499	0	0
BNY MELLON HIGH YIELD STRATE	SH BEN INT	09660L105	46,887	18,387	SH		SOLE		18,387	0	0
BOEING CO	DEP CONV PFD A	097023204	1,181,420	20,000	SH		SOLE		20,000	0	0
BOOKING HOLDINGS INC	NOTE 0.750% 5/0	09857LAN8	61,984,403	25,179,000	PRN		SOLE		0	0	25,179,000
BOSTON BEER INC	CL A	100557107	30,094	126	SH		SOLE		126	0	0
BRANDYWINEGBL GBL INCM OPP F	COM	10537L104	35,329	4,231	SH		SOLE		4,231	0	0
BRIDGER AEROSPACE GRP HLDGS	*W EXP 01/24/202	96812F110	2,527	47,317	SH		SOLE		0	0	47,317
BRITISH AMERN TOB PLC	SPONSORED ADR	110448107	15,307	370	SH		SOLE		370	0	0
BROADCOM INC	COM	11135F101	167,430	1,000	SH	Put	SOLE		1,000	0	0
BROADCOM INC	COM	11135F101	14,399	86	SH		SOLE		86	0	0
BROOKFIELD REAL ASSETS INCOM	SHS BEN INT	112830104	45,560	3,462	SH		SOLE		3,462	0	0
CALAMOS CONV & HIGH INCOME F	COM SHS	12811P108	151,874	15,037	SH		SOLE		15,037	0	0
CALAMOS CONV OPPORTUNITIES &	SH BEN INT	128117108	139,793	14,577	SH		SOLE		14,577	0	0
CALAMOS DYNAMIC CONV & INCOM	COM	12811V105	109,494	5,143	SH		SOLE		5,143	0	0
CALAMOS GBL DYN INCOME FUND	COM	12811L107	21,362	3,343	SH		SOLE		3,343	0	0
CAPITAL GRP FIXED INCM ETF T	MUNICIPAL INCOME	14020Y201	1,312,142	48,924	SH		SOLE		48,924	0	0
CAPITAL GRP FIXED INCM ETF T	SHORT DURATION M	14020Y607	903,769	34,747	SH		SOLE		34,747	0	0
CAPTIVISION INC	USD ORD SHS	G18932106	142	300	SH		SOLE		300	0	0
CAVA GROUP INC	COM	148929102	15,122	175	SH		SOLE		175	0	0
CBRE GBL REAL ESTATE INC FD	COM	12504G100	240,807	46,668	SH		SOLE		46,668	0	0
CHEVRON CORP NEW	COM	166764100	31,451	188	SH		SOLE		188	0	0
CHURCHILL DOWNS INC	COM	171484108	29,434	265	SH		SOLE		265	0	0
CLEARBRIDGE ENERGY MIDSTRM O	COM	18469P209	13,298	268	SH		SOLE		268	0	0
CLOUGH GLOBAL OPPORTUNITIES	SH BEN INT	18914E106	25,917	5,300	SH		SOLE		5,300	0	0
COCA-COLA EUROPACIFIC PARTNE	SHS	G25839104	30,025	345	SH		SOLE		345	0	0
COHEN & STEERS CLOSED-END OP	COM	19248P106	16,693	1,383	SH		SOLE		1,383	0	0
COHEN & STEERS LTD DURATION	COM	19248C105	44,649	2,193	SH		SOLE		2,193	0	0
COHEN & STEERS QUALITY INCOM	COM	19247L106	226,670	18,047	SH		SOLE		18,047	0	0
COHEN & STEERS REAL ESTATE O	SHS BENFIN INT	19249Q103	37,568	2,449	SH		SOLE		2,449	0	0
COHEN & STEERS SELECT PFD &	COM	19248Y107	8,116	406	SH		SOLE		406	0	0
COHEN & STEERS TAX ADVAN PFD	COM	19249X108	11,120	572	SH		SOLE		572	0	0
COHEN & STEERS TOTAL RETURN	COM	19247R103	21,907	1,812	SH		SOLE		1,812	0	0
COINBASE GLOBAL INC	COM CL A	19260Q107	344,460	2,000	SH	Put	SOLE		2,000	0	0
COINBASE GLOBAL INC	COM CL A	19260Q107	2,812,516	16,330	SH		SOLE		16,330	0	0
COINSHARES VALKYRIE BITCOIN	COM	91916J100	49,349	2,118	SH		SOLE		2,118	0	0
COSTCO WHSL CORP NEW	COM	22160K105	472,890	500	SH	Call	SOLE		500	0	0
DIMENSIONAL ETF TRUST	GLOBAL EX US COR	25434V575	169,186	3,238	SH		SOLE		3,238	0	0
DIMENSIONAL ETF TRUST	NATL MUN BD ETF	25434V849	1,579,657	33,207	SH		SOLE		33,207	0	0
DIREXION SHS ETF TR	CSI 300 BULL2X	25490K869	58,946	4,125	SH		SOLE		4,125	0	0
DIREXION SHS ETF TR	DAILY FTSE CHINA	25461A460	46,043	1,163	SH		SOLE		1,163	0	0
DOORDASH INC	CL A	25809K105	82,064	449	SH		SOLE		449	0	0
DOUBLELINE OPPORTUNISTIC CR	COM	258623107	17,005	1,088	SH		SOLE		1,088	0	0
DROPBOX INC	CL A	26210C104	30,182	1,130	SH		SOLE		1,130	0	0
DUFF & PHELPS UTLITY AND INF	COM	26433C105	12,805	1,047	SH		SOLE		1,047	0	0
DWS MUN INCOME TR NEW	COM	233368109	56,899	6,066	SH		SOLE		6,066	0	0
EATON VANCE ENHANCED EQUITY	COM	278274105	103,443	5,514	SH		SOLE		5,514	0	0
EATON VANCE ENHANCED EQUITY	COM	278277108	178,696	8,469	SH		SOLE		8,469	0	0
EATON VANCE FLTING RATE INC	COM	278279104	83,771	6,675	SH		SOLE		6,675	0	0
EATON VANCE LIMITED DURATION	COM	27828H105	85,688	8,586	SH		SOLE		8,586	0	0
EATON VANCE MUN BD FD	COM	27827X101	7,856	788	SH		SOLE		788	0	0
EATON VANCE MUNI INCOME TRUS	SH BEN INT	27826U108	13,656	1,331	SH		SOLE		1,331	0	0
EATON VANCE RISK-MANAGED DIV	COM	27829G106	82,866	9,795	SH		SOLE		9,795	0	0
EATON VANCE SHORT DURATION D	COM	27828V104	32,029	2,917	SH		SOLE		2,917	0	0
EATON VANCE SR FLTNG RTE TR	COM	27828Q105	82,761	6,756	SH		SOLE		6,756	0	0
EATON VANCE TAX MNGED BUY WR	COM	27828X100	44,444	3,256	SH		SOLE		3,256	0	0
EATON VANCE TAX-ADVANTAGED G	COM	27828U106	21,376	870	SH		SOLE		870	0	0
EATON VANCE TAX-MANAGED BUY-	COM	27828Y108	201,875	15,282	SH		SOLE		15,282	0	0
EATON VANCE TAX-MANAGED DIVE	COM	27828N102	110,558	7,753	SH		SOLE		7,753	0	0
EATON VANCE TAX-MANAGED GLOB	COM	27829C105	138,410	16,777	SH		SOLE		16,777	0	0
ELLSWORTH GROWTH & INCOME FD	COM	289074106	27,158	2,991	SH		SOLE		2,991	0	0
EPR PPTYS	COM SH BEN INT	26884U109	61,291	1,165	SH		SOLE		1,165	0	0
ESGL HLDGS LTD	*W EXP 10/19/202	G3R95P116	226	20,000	SH		SOLE		0	0	20,000
ETF OPPORTUNITIES TRUST	T REX 2X INVERSE	26923N413	5,163	368	SH		SOLE		368	0	0
EURONET WORLDWIDE INC	COM	298736109	30,025	281	SH		SOLE		281	0	0
EXXON MOBIL CORP	COM	30231G102	31,160	262	SH		SOLE		262	0	0
FIDELITY COVINGTON TRUST	BLUE CHIP GRWTH	316092352	1,272,765	31,843	SH		SOLE		31,843	0	0
FIDELITY ETHEREUM FD	SHS	31613E103	6,984,640	382,720	SH		SOLE		382,720	0	0
FIRST TR EXCHANGE-TRADED FD	SSI STRG ETF	33739Q507	2,373,845	67,999	SH		SOLE		67,999	0	0
FIRST TR EXCHNG TRADED FD VI	TCW OPPORTUNIS	33740F805	1,081,270	24,664	SH		SOLE		24,664	0	0
FIRST TR EXCHNG TRADED FD VI	TCW UNCONSTRAI	33740F888	6,759,275	273,102	SH		SOLE		273,102	0	0
FIRST TR SR FLTG RATE INCOME	COM	33733U108	63,801	6,292	SH		SOLE		6,292	0	0
FLAHERTY & CRUMRINE PFD INCO	COM	338480106	16,538	1,474	SH		SOLE		1,474	0	0
FLAHERTY & CRUMRINE PFD SECS	COM	338478100	6,197	389	SH		SOLE		389	0	0
FMC CORP	COM NEW	302491303	29,955	710	SH		SOLE		710	0	0
FOX CORP	CL A COM	35137L105	63,222	1,117	SH		SOLE		1,117	0	0
FRANKLIN LTD DURATION INCOME	COM	35472T101	77,462	11,991	SH		SOLE		11,991	0	0
FRANKLIN TEMPLETON ETF TR	INCOME FOCUS ETF	35473P439	419,343	15,747	SH		SOLE		15,747	0	0
FUBOTV INC	COM	35953D104	23	8	SH		SOLE		8	0	0
GAMCO GLOBAL GOLD NAT RES &	COM SH BEN INT	36465A109	48,892	11,188	SH		SOLE		11,188	0	0
GRAYSCALE BITCOIN MINI TR ET	SHS NEW	389930207	28,024	768	SH		SOLE		768	0	0
GRAYSCALE ETHEREUM MINI TR E	SHS NEW	38964R203	6,039,553	350,729	SH		SOLE		350,729	0	0
GROUP 1 AUTOMOTIVE INC	COM	398905109	28,646	75	SH		SOLE		75	0	0
GUGGENHEIM ACTIVE ALLOC FD	COMMON STOCK	40170T106	66,429	4,408	SH		SOLE		4,408	0	0
GUGGENHEIM TAXABLE MUNICP BO	COM	401664107	103,190	6,636	SH		SOLE		6,636	0	0
HANCOCK JOHN PFD INCOME FD	SH BEN INT	41013W108	5,060	305	SH		SOLE		305	0	0
HEWLETT PACKARD ENTERPRISE C	COM	42824C109	5,107	331	SH		SOLE		331	0	0
HIGH-TREND INTERNATIONAL GRO	ORD SHS CL A	G1901X108	28	25	SH		SOLE		25	0	0
HSBC HLDGS PLC	SPON ADR NEW	404280406	44,336	772	SH		SOLE		772	0	0
HUBSPOT INC	NOTE 0.375% 6/0	443573AD2	27,148,095	13,473,000	PRN		SOLE		0	0	13,473,000
INDIA FD INC	COM	454089103	207,297	13,145	SH		SOLE		13,145	0	0
INFINERA CORP	NOTE 2.500% 3/0	45667GAE3	1,203,500	1,000,000	PRN		SOLE		0	0	1,000,000
INFINERA CORP	NOTE 3.750% 8/0	45667GAG8	34,128,656	26,650,000	PRN		SOLE		0	0	26,650,000
INTUITIVE MACHINES INC	CLASS A COM	46125A100	745	100	SH		SOLE		100	0	0
INVESCO ADVANTAGE MUN INCOME	SH BEN INT	46132E103	95,708	11,207	SH		SOLE		11,207	0	0
INVESCO CALIF VALUE MUN INCO	COM	46132H106	12,806	1,207	SH		SOLE		1,207	0	0
INVESCO EXCH TRADED FD TR II	CALIF AMT MUN	46138E206	9,683	406	SH		SOLE		406	0	0
INVESCO EXCH TRADED FD TR II	NY AMT FRE MUN	46138E529	1,917,374	86,759	SH		SOLE		86,759	0	0
INVESCO EXCH TRADED FD TR II	SR LN ETF	46138G508	564,468	27,269	SH		SOLE		27,269	0	0
INVESCO EXCH TRD SLF IDX FD	BULLETSHARE 2034	46139W767	2,117,033	88,060	SH		SOLE		88,060	0	0
INVESCO EXCH TRD SLF IDX FD	BULSHS 2025 MUNI	46138J528	767,595	31,356	SH		SOLE		31,356	0	0
INVESCO MUN OPPORTUNITY TR	COM	46132C107	18,335	1,932	SH		SOLE		1,932	0	0
INVESCO MUNICIPAL TRUST	COM	46131J103	64,742	6,709	SH		SOLE		6,709	0	0
INVESCO QQQ TR	UNIT SER 1	46090E103	1,031,624	2,200	SH	Call	SOLE		2,200	0	0
INVESCO QQQ TR	UNIT SER 1	46090E103	2,215,178	4,724	SH		SOLE		4,724	0	0
INVESCO QUALITY MUN INCOME T	COM	46133G107	117,806	12,170	SH		SOLE		12,170	0	0
INVESCO TR INVT GRADE NEW YO	COM	46131T101	720	69	SH		SOLE		69	0	0
INVESCO VALUE MUN INCOME TR	COM	46132P108	43,966	3,673	SH		SOLE		3,673	0	0
ISHARES BITCOIN TRUST ETF	SHS BEN INT	46438F101	6,480,891	138,451	SH		SOLE		138,451	0	0
ISHARES ETHEREUM TR	SHS	46438R105	105,004	7,598	SH		SOLE		7,598	0	0
ISHARES SILVER TR	ISHARES	46428Q109	18,439	595	SH		SOLE		595	0	0
ISHARES TR	20 YR TR BD ETF	464287432	86,296	948	SH		SOLE		948	0	0
ISHARES TR	7-10 YR TRSY BD	464287440	168,042	1,762	SH		SOLE		1,762	0	0
ISHARES TR	CHINA LG-CAP ETF	464287184	142,500	3,976	SH		SOLE		3,976	0	0
ISHARES TR	CONV BD ETF	46435G102	6,217,407	74,362	SH		SOLE		74,362	0	0
ISHARES TR	HDG MSCI EAFE	46434V803	1,286,771	35,458	SH		SOLE		35,458	0	0
ISHARES TR	IBONDS DEC 2029	46436E163	50,180	2,004	SH		SOLE		2,004	0	0
ISHARES TR	IBOXX HI YD ETF	464288513	1,258,138	15,948	SH		SOLE		15,948	0	0
ISHARES TR	IBOXX INV CP ETF	464287242	48,367	445	SH		SOLE		445	0	0
ISHARES TR	ISHARES BIOTECH	464287556	106,029	829	SH		SOLE		829	0	0
ISHARES TR	JPMORGAN USD EMG	464288281	51,999	574	SH		SOLE		574	0	0
ISHARES TR	MBS ETF	464288588	6,658	71	SH		SOLE		71	0	0
ISHARES TR	MSCI CHINA ETF	46429B671	31,171	573	SH		SOLE		573	0	0
ISHARES TR	MSCI EAFE ETF	464287465	36,533	447	SH		SOLE		447	0	0
ISHARES TR	MSCI EMG MKT ETF	464287234	61,224	1,401	SH		SOLE		1,401	0	0
ISHARES TR	NATIONAL MUN ETF	464288414	464,885	4,409	SH		SOLE		4,409	0	0
ISHARES TR	NEW YORK MUN ETF	464288323	948,542	18,016	SH		SOLE		18,016	0	0
ISHARES TR	PFD AND INCM SEC	464288687	94,525	3,076	SH		SOLE		3,076	0	0
ISHARES TR	RUS 1000 VAL ETF	464287598	381,588	2,028	SH		SOLE		2,028	0	0
ISHARES TR	RUS MD CP GR ETF	464287481	340,486	2,898	SH		SOLE		2,898	0	0
ISHARES TR	RUS MDCP VAL ETF	464287473	9,952	79	SH		SOLE		79	0	0
ISHARES TR	RUSSELL 2000 ETF	464287655	5,985	30	SH		SOLE		30	0	0
ISHARES TR	SHRT NAT MUN ETF	464288158	5,893,536	55,810	SH		SOLE		55,810	0	0
ISHARES TR	SP SMCP600VL ETF	464287879	3,515,519	36,064	SH		SOLE		36,064	0	0
JBT MAREL CORPORATION	COM	477839104	611	5	SH		SOLE		5	0	0
JEFFERIES FINL GROUP INC	COM	47233W109	29,410	549	SH		SOLE		549	0	0
KIMBERLY-CLARK CORP	COM	494368103	36,266	255	SH		SOLE		255	0	0
KINDER MORGAN INC DEL	COM	49456B101	15,064	528	SH		SOLE		528	0	0
LAZARD GLOBAL TOTAL RETURN &	COM	52106W103	53,319	3,460	SH		SOLE		3,460	0	0
LCI INDS	COM	50189K103	1,836	21	SH		SOLE		21	0	0
LIBERTY ALL STAR EQUITY FD	SH BEN INT	530158104	185,516	28,323	SH		SOLE		28,323	0	0
LIBERTY MEDIA CORP DEL	COM LBTY LIV S A	531229748	2,690	40	SH		SOLE		40	0	0
LIVE NATION ENTERTAINMENT IN	COM	538034109	30,425	233	SH		SOLE		233	0	0
LOEWS CORP	COM	540424108	30,422	331	SH		SOLE		331	0	0
MERCK & CO INC	COM	58933Y105	3,949	44	SH		SOLE		44	0	0
META PLATFORMS INC	CL A	30303M102	57,636	100	SH	Call	SOLE		100	0	0
META PLATFORMS INC	CL A	30303M102	60,460,164	104,900	SH	Put	SOLE		104,900	0	0
META PLATFORMS INC	CL A	30303M102	59,091,885	102,526	SH		SOLE		102,526	0	0
MFS MULTIMARKET INCOME TR	SH BEN INT	552737108	9,179	1,974	SH		SOLE		1,974	0	0
MFS MUN INCOME TR	SH BEN INT	552738106	17,151	3,236	SH		SOLE		3,236	0	0
MICROSOFT CORP	COM	594918104	225,234	600	SH	Call	SOLE		600	0	0
MICROSOFT CORP	COM	594918104	68,546,214	182,600	SH	Put	SOLE		182,600	0	0
MICROSOFT CORP	COM	594918104	68,152,805	181,552	SH		SOLE		181,552	0	0
MICROSTRATEGY INC	CL A NEW	594972408	9,189,759	31,879	SH		SOLE		31,879	0	0
MOLINA HEALTHCARE INC	COM	60855R100	30,304	92	SH		SOLE		92	0	0
MOLSON COORS BEVERAGE CO	CL B	60871R209	30,009	493	SH		SOLE		493	0	0
MORGAN STANLEY CHINA A SH FD	COM	617468103	14,480	1,107	SH		SOLE		1,107	0	0
MORGAN STANLEY EMKT DBT FD I	COM	61744H105	21,719	2,698	SH		SOLE		2,698	0	0
MORGAN STANLEY INDIA INVT FD	COM	61745C105	11,756	482	SH		SOLE		482	0	0
NETFLIX INC	COM	64110L106	93,253	100	SH	Put	SOLE		100	0	0
NETFLIX INC	COM	64110L106	93,253	100	SH		SOLE		100	0	0
NEW YORK TIMES CO	CL A	650111107	15,078	304	SH		SOLE		304	0	0
NEXTERA ENERGY INC	COM	65339F101	19,707	278	SH		SOLE		278	0	0
NRG ENERGY INC	DBCV 2.750% 6/0	629377CG5	20,574,842	8,829,000	PRN		SOLE		0	0	8,829,000
NUVEEN AMT FREE MUN CR INC F	COM	67071L106	126,375	10,208	SH		SOLE		10,208	0	0
NUVEEN CORE EQUITY ALPHA FD	COM	67090X107	20,980	1,438	SH		SOLE		1,438	0	0
NUVEEN CORE PLUS IMPACT FUND	COM BEN INT	67080D103	104,302	9,757	SH		SOLE		9,757	0	0
NUVEEN CR STRATEGIES INCOME	COM SHS	67073D102	41,453	7,705	SH		SOLE		7,705	0	0
NUVEEN CR STRATEGIES INCOME	RIGHT 04/29/2025	67073D110	483	16,105	SH		SOLE		16,105	0	0
NUVEEN DOW 30 DYNMC OVERWRT	SHS	67075F105	12,969	895	SH		SOLE		895	0	0
NUVEEN DYNAMIC MUN OPPORTUNI	COM SHS	67079X102	16,406	1,599	SH		SOLE		1,599	0	0
NUVEEN MULTI ASSET INCOME FU	COM	670750108	48,657	4,048	SH		SOLE		4,048	0	0
NUVEEN MUN CR OPPORTUNITIES	COM	670663103	122,237	11,424	SH		SOLE		11,424	0	0
NUVEEN MUN HIGH INCOME OPPOR	COM	670682103	256,832	23,541	SH		SOLE		23,541	0	0
NUVEEN MUNICIPAL CREDIT INC	COM SH BEN INT	67070X101	100,714	8,235	SH		SOLE		8,235	0	0
NUVEEN NEW JERSEY QULT MUN F	COM	67069Y102	81,566	6,930	SH		SOLE		6,930	0	0
NUVEEN NEW YORK AMT QLT MUNI	COM	670656107	113,897	11,058	SH		SOLE		11,058	0	0
NUVEEN NEW YORK QLT MUN INC	COM	67066X107	3,334	293	SH		SOLE		293	0	0
NUVEEN PFD SECS & INC OPPTY	COM	67075A106	59,620	3,031	SH		SOLE		3,031	0	0
NUVEEN QUALITY MUNCP INCOME	COM	67066V101	323,505	28,082	SH		SOLE		28,082	0	0
NUVEEN REAL ESTATE INCOME FD	COM	67071B108	45,032	5,465	SH		SOLE		5,465	0	0
NUVEEN SELECT TAX-FREE INCOM	SH BEN INT	67062F100	84,237	5,862	SH		SOLE		5,862	0	0
NVIDIA CORPORATION	COM	67066G104	758,660	7,000	SH	Call	SOLE		7,000	0	0
NVIDIA CORPORATION	COM	67066G104	25,740,250	237,500	SH	Put	SOLE		237,500	0	0
NVIDIA CORPORATION	COM	67066G104	21,726,397	200,465	SH		SOLE		200,465	0	0
NXG NEXTGEN INFRASTR INCM FD	COM	231647207	50,955	1,083	SH		SOLE		1,083	0	0
OREILLY AUTOMOTIVE INC	COM	67103H107	30,084	21	SH		SOLE		21	0	0
PALANTIR TECHNOLOGIES INC	CL A	69608A108	1,297,397	15,372	SH		SOLE		15,372	0	0
PALO ALTO NETWORKS INC	COM	697435105	511,920	3,000	SH	Put	SOLE		3,000	0	0
PALO ALTO NETWORKS INC	COM	697435105	282,580	1,656	SH		SOLE		1,656	0	0
PALO ALTO NETWORKS INC	NOTE 0.375% 6/0	697435AF2	3,829,554	1,116,000	PRN		SOLE		0	0	1,116,000
PENGUIN SOLUTIONS INC	SHS	G8232Y101	2,519	145	SH		SOLE		145	0	0
PG&E CORP	PFD CONV SER A	69331C306	836,057	19,000	SH		SOLE		19,000	0	0
PIMCO DYNAMIC INCOME OPRNTS	COM BEN SHS	69355M107	160,619	11,572	SH		SOLE		11,572	0	0
PIMCO ETF TR	ACTIVE BD ETF	72201R775	570,725	6,172	SH		SOLE		6,172	0	0
PIMCO HIGH INCOME FD	COM SHS	722014107	76,851	15,716	SH		SOLE		15,716	0	0
PIMCO INCOME STRATEGY FD	COM	72201H108	5,513	641	SH		SOLE		641	0	0
PIMCO MUN INCOME FD II	COM	72200W106	129,843	16,030	SH		SOLE		16,030	0	0
PIMCO MUN INCOME FD III	COM	72201A103	22,454	3,136	SH		SOLE		3,136	0	0
PIONEER HIGH INCOME FUND INC	COM	72369H106	30,588	3,952	SH		SOLE		3,952	0	0
PIONEER MUNICIPAL HIGH INCOM	COM	723762100	7,757	929	SH		SOLE		929	0	0
PIONEER MUNICIPAL HIGH INCOM	COM SHS	723763108	13,460	1,463	SH		SOLE		1,463	0	0
PROSHARES TR	ULTRA BITCOIN ET	74349Y704	6,589	198	SH		SOLE		198	0	0
PUTNAM MUN OPPORTUNITIES TR	SH BEN INT	746922103	72,390	7,104	SH		SOLE		7,104	0	0
RAYONIER INC	COM	754907103	30,027	1,077	SH		SOLE		1,077	0	0
REAVES UTIL INCOME FD	COM SH BEN INT	756158101	344,176	10,577	SH		SOLE		10,577	0	0
REMITLY GLOBAL INC	COM	75960P104	29,994	1,442	SH		SOLE		1,442	0	0
REPUBLIC SVCS INC	COM	760759100	30,270	125	SH		SOLE		125	0	0
RIVERNORTH OPPORTUNISTIC MUN	COM	76883F108	23,634	1,583	SH		SOLE		1,583	0	0
RIVERNORTH OPPORTUNITIES FD	COM	76881Y109	10,033	851	SH		SOLE		851	0	0
ROYCE MICRO-CAP TR INC	COM	780915104	50,774	6,023	SH		SOLE		6,023	0	0
ROYCE SMALL CAP TRUST INC	COM	780910105	16,205	1,138	SH		SOLE		1,138	0	0
SEA LTD	SPONSORD ADS	81141R100	521,960	4,000	SH	Call	SOLE		4,000	0	0
SHELL PLC	SPON ADS	780259305	842,720	11,500	SH	Call	SOLE		11,500	0	0
SOUTHWEST AIRLS CO	COM	844741108	22,599	673	SH		SOLE		673	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	327,803	586	SH		SOLE		586	0	0
SPDR SER TR	NUVEEN BLMBRG MU	78468R721	16,083,410	356,854	SH		SOLE		356,854	0	0
SPDR SER TR	NUVEEN BLMBRG SH	78468R739	2,859,380	60,071	SH		SOLE		60,071	0	0
SPDR SER TR	NUVEEN BLOOMBERG	78464A284	1,638,947	64,986	SH		SOLE		64,986	0	0
SPDR SER TR	S&P REGL BKG	78464A698	109,038	1,918	SH		SOLE		1,918	0	0
SPROTT PHYSICAL GOLD & SILVE	TR UNIT	85208R101	1,015,658	35,750	SH		SOLE		35,750	0	0
SPROTT PHYSICAL GOLD TR	UNIT	85207H104	3,577,289	148,682	SH		SOLE		148,682	0	0
SS&C TECHNOLOGIES HLDGS INC	COM	78467J100	30,071	360	SH		SOLE		360	0	0
SSGA ACTIVE ETF TR	BLACKSTONE SENR	78467V608	1,191,248	28,963	SH		SOLE		28,963	0	0
SUPER MICRO COMPUTER INC	COM NEW	86800U302	3,127,516	91,341	SH		SOLE		91,341	0	0
TAIWAN SEMICONDUCTOR MFG LTD	SPONSORED ADS	874039100	581,000	3,500	SH	Put	SOLE		3,500	0	0
TAIWAN SEMICONDUCTOR MFG LTD	SPONSORED ADS	874039100	16,600	100	SH		SOLE		100	0	0
TEMPLETON EMERGING MKTS INCO	COM	880192109	55,226	10,265	SH		SOLE		10,265	0	0
TESLA INC	COM	88160R101	777,480	3,000	SH	Call	SOLE		3,000	0	0
TESLA INC	COM	88160R101	26,978,556	104,100	SH	Put	SOLE		104,100	0	0
TESLA INC	COM	88160R101	28,868,869	111,394	SH		SOLE		111,394	0	0
TIDAL TR II	YIELDMAX AMD OPT	88634T477	121,331	15,281	SH		SOLE		15,281	0	0
TIDAL TR II	YIELDMAX NVDA	88634T774	1,434,277	93,256	SH		SOLE		93,256	0	0
TIDAL TR II	YIELDMAX SHORT T	88636J519	131,725	18,658	SH		SOLE		18,658	0	0
TOTALENERGIES SE	SPONSORED ADS	89151E109	65	1	SH		SOLE		1	0	0
TRAVEL PLUS LEISURE CO	COM	894164102	30,366	656	SH		SOLE		656	0	0
UBER TECHNOLOGIES INC	COM	90353T100	5,610	77	SH		SOLE		77	0	0
UL SOLUTIONS INC	CLASS A COM SHS	903731107	30,682	544	SH		SOLE		544	0	0
VANECK BITCOIN ETF	SH BEN INT	92189K105	8,951	384	SH		SOLE		384	0	0
VANECK ETF TRUST	HIGH YLD MUNIETF	92189H409	2,327,359	45,474	SH		SOLE		45,474	0	0
VANECK ETF TRUST	LONG MUNI ETF	92189F536	113,609	6,533	SH		SOLE		6,533	0	0
VANECK ETF TRUST	SEMICONDUCTR ETF	92189F676	2,961	14	SH		SOLE		14	0	0
VANECK ETHEREUM TR	SHS	92189L103	5,842,200	218,400	SH		SOLE		218,400	0	0
VANGUARD CALIF TAX FREE FDS	TAX EXEMPT BD FD	922021605	2,174,246	22,096	SH		SOLE		22,096	0	0
VANGUARD INDEX FDS	TOTAL STK MKT	922908769	188,540	686	SH		SOLE		686	0	0
VANGUARD SCOTTSDALE FDS	INT-TERM CORP	92206C870	131,225	1,605	SH		SOLE		1,605	0	0
VANGUARD SCOTTSDALE FDS	MTG-BKD SECS ETF	92206C771	120,591	2,604	SH		SOLE		2,604	0	0
VANGUARD WELLINGTON FD	SHORT TRM TAX EX	921935870	50,456	502	SH		SOLE		502	0	0
VANGUARD WORLD FD	HEALTH CAR ETF	92204A504	225,021	850	SH		SOLE		850	0	0
VIRTUS ARTIFICIAL INTELLIGEN	COM	92838Y100	157,881	7,653	SH		SOLE		7,653	0	0
VIRTUS CONVERTIBLE & INC FD	COM NEW	92838U801	99,659	8,621	SH		SOLE		8,621	0	0
VIRTUS DIVERSIFIED INCM & CO	COM	92840N100	37,420	1,871	SH		SOLE		1,871	0	0
VIRTUS DIVIDEND INTEREST & P	COM	92840R101	103,263	8,513	SH		SOLE		8,513	0	0
VIRTUS TOTAL RETURN FD INC	COM	92835W107	4,591	769	SH		SOLE		769	0	0
VOYA GLBL ADV & PREM OPP FD	COM	92912R104	18,933	1,928	SH		SOLE		1,928	0	0
WESTERN ASSET DIVERSIFIED IN	COM SHS BEN INT	95790K109	125,065	8,655	SH		SOLE		8,655	0	0
WESTERN ASSET GBL HIGH INC F	COM	95766B109	49,978	7,561	SH		SOLE		7,561	0	0
WESTERN ASSET HIGH INCOME OP	COM	95766K109	48,592	12,209	SH		SOLE		12,209	0	0
WESTERN ASSET HIGH YIELD DEF	COM	95768B107	31,909	2,695	SH		SOLE		2,695	0	0
WESTERN ASST INFLTN LKD INM	COM SH BEN INT	95766Q106	15,914	1,907	SH		SOLE		1,907	0	0
WESTERN AST INFL LKD OPP & I	COM	95766R104	111,668	12,704	SH		SOLE		12,704	0	0
WISDOMTREE BITCOIN FD	SHS BEN INT	97720F101	5,601,191	64,186	SH		SOLE		64,186	0	0
WIX COM LTD	SHS	M98068105	1,797	11	SH		SOLE		11	0	0
WYNDHAM HOTELS & RESORTS INC	COM	98311A105	29,416	325	SH		SOLE		325	0	0
XAI MADISON EQUITY PREMIUM I	COM	557437100	10,298	1,680	SH		SOLE		1,680	0	0
ZOOM COMMUNICATIONS INC	CL A	98980L101	737,700	10,000	SH	Call	SOLE		10,000	0	0
ZOOM COMMUNICATIONS INC	CL A	98980L101	147,540	2,000	SH	Put	SOLE		2,000	0	0

Check here if Amendment:	☐ Amendment Number:
This Amendment (Check only one.):	☐ is a restatement. ☐ adds new holdings entries.

Name:	Elequin Capital, LP
Address:	1359 BROADWAY
	SUITE 1140
	NEW YORK, NY 10018
Form 13F File Number:	028-22205

Name:	James Finlayson
Title:	Chief Operating Officer
Phone:	929-346-7126

Number of Other Included Managers:	0
Form 13F Information table Entry Total:	324
Form 13F Information table Value Total:	802440466 (thousands)

Institutional Investment Manager Filing this Report:

Signature, Place, and Date of Signing:

Report Type (Check only one.):

Form 13F Summary Page

Report Summary:

List of Other Included Managers: