# EDGAR Filing Document

**Accession Number:** 0001810873
**File Stem:** 0001420506-25-001809
**Filing Date:** 2025-8
**Character Count:** 41340
**Document Hash:** 28ee45524cbc05d85b9120e81447b98e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001420506-25-001809.hdr.sgml**: 20250811

**ACCESSION NUMBER**: 0001420506-25-001809

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250811

**DATE AS OF CHANGE**: 20250811

**EFFECTIVENESS DATE**: 20250811

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Elequin Capital, LP
- **CENTRAL INDEX KEY:** 0001810873

**ORGANIZATION NAME:**
- **EIN:** 843389464
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-22205
- **FILM NUMBER:** 251201084

**BUSINESS ADDRESS:**
- **STREET 1:** 1359 BROADWAY
- **STREET 2:** SUITE 1140
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018
- **BUSINESS PHONE:** 2126593970

**MAIL ADDRESS:**
- **STREET 1:** 1359 BROADWAY
- **STREET 2:** SUITE 1140
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Elequin Securities, LLC
- **DATE OF NAME CHANGE:** 20230117

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ELEQUIN CAPITAL LP
- **DATE OF NAME CHANGE:** 20200428

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Elequin Capital LP<br>**Address:** 1359 BROADWAY<br>SUITE 1140<br>NEW YORK, NY 10018

**Form 13F File Number:** 028-22205

**CRD Number (if applicable):** 000308371

**SEC File Number (if applicable):** 802-128325

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** James Finlayson<br>**Title:** Chief Operating Officer<br>**Phone:** 929-346-7126

**Signature, Place, and Date of Signing:**

James Finlayson Chief Operating Officer  NEW YORK, NY  08-08-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 371

**Form 13F Information Table Value Total:** $763901473

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 21SHARES CORE ETHEREUM ETF | SHS | 04071F102 |  | 100426 | 7983 | SH |  | SOLE |  | 7983 | 0 | 0 |
| ABRDN HEALTHCARE INVESTORS | SH BEN INT | 87911J103 |  | 366989 | 23692 | SH |  | SOLE |  | 23692 | 0 | 0 |
| ABRDN HEALTHCARE OPPORTUNITI | SHS | 879105104 |  | 92244 | 5016 | SH |  | SOLE |  | 5016 | 0 | 0 |
| ABRDN INCOME CREDIT STRATEGI | COM | 003057106 |  | 157194 | 26643 | SH |  | SOLE |  | 26643 | 0 | 0 |
| ABRDN NATL MUN INCOME FD | SH BEN INT | 24610T108 |  | 20924 | 2166 | SH |  | SOLE |  | 2166 | 0 | 0 |
| ABRDN WORLD HEALTHCARE FUND | BEN INT SHS | 87911L108 |  | 82716 | 8062 | SH |  | SOLE |  | 8062 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 993300 | 7000 | SH | Call | SOLE |  | 7000 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 1631850 | 11500 | SH | Put | SOLE |  | 11500 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 290327 | 2046 | SH |  | SOLE |  | 2046 | 0 | 0 |
| ADVENT CONV  INCOME FD | COM | 00764C109 |  | 186688 | 15416 | SH |  | SOLE |  | 15416 | 0 | 0 |
| AIRBNB INC | COM CL A | 009066101 |  | 132340 | 1000 | SH | Call | SOLE |  | 1000 | 0 | 0 |
| AIRBNB INC | COM CL A | 009066101 |  | 132340 | 1000 | SH | Put | SOLE |  | 1000 | 0 | 0 |
| AIRBNB INC | COM CL A | 009066101 |  | 22762 | 172 | SH |  | SOLE |  | 172 | 0 | 0 |
| ALIGNMENT HEALTHCARE INC | COM | 01625V104 |  | 2058 | 147 | SH |  | SOLE |  | 147 | 0 | 0 |
| ALKAMI TECHNOLOGY INC | COM | 01644J108 |  | 2291 | 76 | SH |  | SOLE |  | 76 | 0 | 0 |
| ALLIANCEBERNSTEIN NATL MUN I | COM | 01864U106 |  | 84284 | 8175 | SH |  | SOLE |  | 8175 | 0 | 0 |
| ALLSPRING MULTI SECTOR INCOM | COM | 94987D101 |  | 51881 | 5490 | SH |  | SOLE |  | 5490 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 2396728 | 13600 | SH | Call | SOLE |  | 13600 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 3172140 | 18000 | SH | Put | SOLE |  | 18000 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 677076 | 3842 | SH |  | SOLE |  | 3842 | 0 | 0 |
| ALPS ETF TR | ALERIAN MLP | 00162Q452 |  | 251922 | 5156 | SH |  | SOLE |  | 5156 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 658170 | 3000 | SH | Call | SOLE |  | 3000 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 2084205 | 9500 | SH | Put | SOLE |  | 9500 | 0 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 52632 | 165 | SH |  | SOLE |  | 165 | 0 | 0 |
| AMPHASTAR PHARMACEUTICALS IN | COM | 03209R103 |  | 321 | 14 | SH |  | SOLE |  | 14 | 0 | 0 |
| ANI PHARMACEUTICALS INC | COM | 00182C103 |  | 1958 | 30 | SH |  | SOLE |  | 30 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 104432 | 509 | SH |  | SOLE |  | 509 | 0 | 0 |
| APPLIED MATLS INC | COM | 038222105 |  | 1464560 | 8000 | SH | Call | SOLE |  | 8000 | 0 | 0 |
| ARES DYNAMIC CR ALLOCATION F | COM | 04014F102 |  | 79177 | 5568 | SH |  | SOLE |  | 5568 | 0 | 0 |
| ARK 21SHARES BITCOIN ETF | SHS BEN INT | 040919102 |  | 10050906 | 280830 | SH |  | SOLE |  | 280830 | 0 | 0 |
| ASA GOLD AND PRECIOUS MTLS L | SHS | G3156P103 |  | 108190 | 3427 | SH |  | SOLE |  | 3427 | 0 | 0 |
| BITWISE BITCOIN ETF TR | SHS BEN INT | 09174C104 |  | 2170467 | 37045 | SH |  | SOLE |  | 37045 | 0 | 0 |
| BITWISE ETHEREUM ETF | SHS | 091955104 |  | 8344172 | 462025 | SH |  | SOLE |  | 462025 | 0 | 0 |
| BLACKROCK CORE BD TR | SHS BEN INT | 09249E101 |  | 183475 | 18876 | SH |  | SOLE |  | 18876 | 0 | 0 |
| BLACKROCK CORPOR HI YLD FD I | COM | 09255P107 |  | 496451 | 50918 | SH |  | SOLE |  | 50918 | 0 | 0 |
| BLACKROCK ENHANCED GLOBAL DI | COM | 092501105 |  | 108234 | 9536 | SH |  | SOLE |  | 9536 | 0 | 0 |
| BLACKROCK ENHANCED INTL DIV | COM BENE INTER | 092524107 |  | 156261 | 26988 | SH |  | SOLE |  | 26988 | 0 | 0 |
| BLACKROCK ESG CAP ALLC TERM | SHS BEN INT | 09262F100 |  | 487582 | 30360 | SH |  | SOLE |  | 30360 | 0 | 0 |
| BLACKROCK ETF TRUST II | ISHARES HIGH YIE | 092528108 |  | 1710106 | 76652 | SH |  | SOLE |  | 76652 | 0 | 0 |
| BLACKROCK ETF TRUST II | ISHARES AAA CLO | 092528504 |  | 10436 | 201 | SH |  | SOLE |  | 201 | 0 | 0 |
| BLACKROCK ETF TRUST II | ISHARES FLEXIBLE | 092528603 |  | 72127 | 1365 | SH |  | SOLE |  | 1365 | 0 | 0 |
| BLACKROCK ETF TRUST II | ISHARES BBB B CL | 092528850 |  | 43046 | 863 | SH |  | SOLE |  | 863 | 0 | 0 |
| BLACKROCK ETF TRUST II | ISHARES SHORT-TE | 092528884 |  | 2399907 | 47570 | SH |  | SOLE |  | 47570 | 0 | 0 |
| BLACKROCK FLOATING RATE INC | COM | 091941104 |  | 59858 | 4781 | SH |  | SOLE |  | 4781 | 0 | 0 |
| BLACKROCK HEALTH SCIENCES TE | COM SHS | 09260E105 |  | 94382 | 8731 | SH |  | SOLE |  | 8731 | 0 | 0 |
| BLACKROCK HEALTH SCIENCES TE | COM SHS | 09260E105 |  | 518223 | 36341 | SH |  | SOLE |  | 36341 | 0 | 0 |
| BLACKROCK HEALTH SCIENCES TR | COM | 09250W107 |  | 58154 | 1595 | SH |  | SOLE |  | 1595 | 0 | 0 |
| BLACKROCK INCOME TR INC | COM NEW | 09247F209 |  | 45966 | 3912 | SH |  | SOLE |  | 3912 | 0 | 0 |
| BLACKROCK LONG-TERM MUN ADVA | COM | 09250B103 |  | 7749 | 845 | SH |  | SOLE |  | 845 | 0 | 0 |
| BLACKROCK MUN INCOME QUALITY | COM | 092479104 |  | 11574 | 1096 | SH |  | SOLE |  | 1096 | 0 | 0 |
| BLACKROCK MUN INCOME TR | SH BEN INT | 09248F109 |  | 117171 | 12218 | SH |  | SOLE |  | 12218 | 0 | 0 |
| BLACKROCK MUNI INCOME TR II | COM | 09249N101 |  | 17931 | 1786 | SH |  | SOLE |  | 1786 | 0 | 0 |
| BLACKROCK MUNIASSETS FD INC | COM | 09254J102 |  | 38314 | 3684 | SH |  | SOLE |  | 3684 | 0 | 0 |
| BLACKROCK MUNIHLDNGS CALI QL | COM | 09254L107 |  | 167121 | 16147 | SH |  | SOLE |  | 16147 | 0 | 0 |
| BLACKROCK MUNIHOLDINGS FD IN | COM | 09253N104 |  | 95592 | 8535 | SH |  | SOLE |  | 8535 | 0 | 0 |
| BLACKROCK MUNIHOLDINGS QUALI | COM | 09254C107 |  | 74379 | 7764 | SH |  | SOLE |  | 7764 | 0 | 0 |
| BLACKROCK MUNIVEST FD INC | COM | 09253R105 |  | 82717 | 12571 | SH |  | SOLE |  | 12571 | 0 | 0 |
| BLACKROCK MUNIYIELD MICH QU | COM | 09254V105 |  | 73692 | 6675 | SH |  | SOLE |  | 6675 | 0 | 0 |
| BLACKROCK MUNIYIELD N Y QUAL | COM | 09255E102 |  | 60649 | 6364 | SH |  | SOLE |  | 6364 | 0 | 0 |
| BLACKROCK MUNIYIELD QUALITY | COM | 09254E103 |  | 276254 | 26335 | SH |  | SOLE |  | 26335 | 0 | 0 |
| BLACKROCK N Y MUN INCOME TRU | SH BEN INT | 09248L106 |  | 35566 | 3678 | SH |  | SOLE |  | 3678 | 0 | 0 |
| BLACKROCK RES  COMMODITIES | SHS | 09257A108 |  | 229181 | 24252 | SH |  | SOLE |  | 24252 | 0 | 0 |
| BLACKROCK SCIENCE  TECHNOLO | SHS | 09258G104 |  | 497126 | 13024 | SH |  | SOLE |  | 13024 | 0 | 0 |
| BLACKROCK TAX MUNICPAL BD TR | SHS | 09248X100 |  | 60574 | 3760 | SH |  | SOLE |  | 3760 | 0 | 0 |
| BLACKROCK TECH AND PRIVATE E | SHS BEN INT | 09260Q108 |  | 414901 | 56526 | SH |  | SOLE |  | 56526 | 0 | 0 |
| BLACKSTONE MTG TR INC | COM CL A | 09257W100 |  | 58 | 3 | SH |  | SOLE |  | 3 | 0 | 0 |
| BNY MELLON STRATEGIC MUN BD | COM | 09662E109 |  | 3086 | 551 | SH |  | SOLE |  | 551 | 0 | 0 |
| BRIDGER AEROSPACE GRP HLDGS | *W EXP 01/24/202 | 96812F110 |  | 3667 | 47317 | SH |  | SOLE |  | 0 | 0 | 47317 |
| BROOKDALE SR LIVING INC | COM | 112463104 |  | 445 | 64 | SH |  | SOLE |  | 64 | 0 | 0 |
| CALAMOS CONV OPPORTUNITIES | SH BEN INT | 128117108 |  | 44647 | 4244 | SH |  | SOLE |  | 4244 | 0 | 0 |
| CALAMOS DYNAMIC CONV  INCOM | COM | 12811V105 |  | 177737 | 8814 | SH |  | SOLE |  | 8814 | 0 | 0 |
| CALAMOS ETF TR | CONVERTIBLE EQTY | 12811T308 |  | 597341 | 18630 | SH |  | SOLE |  | 18630 | 0 | 0 |
| CALAMOS LNG SHR EQT DYNAMIC | COM | 12812C106 |  | 1136 | 70 | SH |  | SOLE |  | 70 | 0 | 0 |
| CALAMOS STRATEGIC TOTAL RETU | COM SH BEN INT | 128125101 |  | 377641 | 20704 | SH |  | SOLE |  | 20704 | 0 | 0 |
| CAPITAL GRP FIXED INCM ETF T | MUNICIPAL INCOME | 14020Y201 |  | 1308717 | 49034 | SH |  | SOLE |  | 49034 | 0 | 0 |
| CAPITAL GRP FIXED INCM ETF T | MUNICIPAL HIGH I | 14020Y805 |  | 779846 | 31656 | SH |  | SOLE |  | 31656 | 0 | 0 |
| CAPTIVISION INC | USD ORD SHS | G18932106 |  | 342 | 300 | SH |  | SOLE |  | 300 | 0 | 0 |
| CARVANA CO | CL A | 146869102 |  | 673920 | 2000 | SH | Call | SOLE |  | 2000 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 737599 | 1900 | SH | Put | SOLE |  | 1900 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 189058 | 487 | SH |  | SOLE |  | 487 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 286380 | 2000 | SH | Put | SOLE |  | 2000 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 62860 | 439 | SH |  | SOLE |  | 439 | 0 | 0 |
| CHIPOTLE MEXICAN GRILL INC | COM | 169656105 |  | 224600 | 4000 | SH | Put | SOLE |  | 4000 | 0 | 0 |
| CHIPOTLE MEXICAN GRILL INC | COM | 169656105 |  | 56318 | 1003 | SH |  | SOLE |  | 1003 | 0 | 0 |
| CINEMARK HLDGS INC | NOTE  4.500% 8/1 | 17243VAB8 |  | 74261250 | 35000000 | PRN |  | SOLE |  | 0 | 0 | 35000000 |
| CITIGROUP INC | COM NEW | 172967424 |  | 340480 | 4000 | SH | Put | SOLE |  | 4000 | 0 | 0 |
| CITIGROUP INC | COM NEW | 172967424 |  | 143853 | 1690 | SH |  | SOLE |  | 1690 | 0 | 0 |
| CLOUGH GLOBAL OPPORTUNITIES | SH BEN INT | 18914E106 |  | 90974 | 16754 | SH |  | SOLE |  | 16754 | 0 | 0 |
| CNX RES CORP | COM | 12653C108 |  | 2459 | 73 | SH |  | SOLE |  | 73 | 0 | 0 |
| COHEN  STEERS QUALITY INCOM | COM | 19247L106 |  | 5279 | 424 | SH |  | SOLE |  | 424 | 0 | 0 |
| COHEN  STEERS TAX ADVAN PFD | COM | 19249X108 |  | 264528 | 13360 | SH |  | SOLE |  | 13360 | 0 | 0 |
| COHEN  STEERS TOTAL RETURN | COM | 19247R103 |  | 76581 | 6350 | SH |  | SOLE |  | 6350 | 0 | 0 |
| COINBASE GLOBAL INC | COM CL A | 19260Q107 |  | 1418433 | 4047 | SH |  | SOLE |  | 4047 | 0 | 0 |
| COINSHARES VALKYRIE BITCOIN | COM | 91916J100 |  | 2332113 | 76538 | SH |  | SOLE |  | 76538 | 0 | 0 |
| COPT DEFENSE PROPERTIES | SHS BEN INT | 22002T108 |  | 1544 | 56 | SH |  | SOLE |  | 56 | 0 | 0 |
| CRACKER BARREL OLD CTRY STOR | COM | 22410J106 |  | 1527 | 25 | SH |  | SOLE |  | 25 | 0 | 0 |
| CVS HEALTH CORP | COM | 126650100 |  | 241430 | 3500 | SH | Call | SOLE |  | 3500 | 0 | 0 |
| CVS HEALTH CORP | COM | 126650100 |  | 172450 | 2500 | SH | Put | SOLE |  | 2500 | 0 | 0 |
| DIMENSIONAL ETF TRUST | GLOBAL EX US COR | 25434V575 |  | 1572199 | 29464 | SH |  | SOLE |  | 29464 | 0 | 0 |
| DIREXION SHS ETF TR | CSI 300 BULL2X | 25490K869 |  | 39472 | 2667 | SH |  | SOLE |  | 2667 | 0 | 0 |
| DIREXION SHS ETF TR | DAILY FTSE CHINA | 25461A460 |  | 35634 | 1163 | SH |  | SOLE |  | 1163 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 310025 | 2500 | SH | Call | SOLE |  | 2500 | 0 | 0 |
| DOORDASH INC | CL A | 25809K105 |  | 246510 | 1000 | SH | Call | SOLE |  | 1000 | 0 | 0 |
| DOORDASH INC | CL A | 25809K105 |  | 172557 | 700 | SH | Put | SOLE |  | 700 | 0 | 0 |
| DOORDASH INC | CL A | 25809K105 |  | 176994 | 718 | SH |  | SOLE |  | 718 | 0 | 0 |
| DOUBLELINE INCOME SOLUTIONS | COM | 258622109 |  | 487348 | 39816 | SH |  | SOLE |  | 39816 | 0 | 0 |
| DOUBLELINE OPPORTUNISTIC CR | COM | 258623107 |  | 101723 | 6614 | SH |  | SOLE |  | 6614 | 0 | 0 |
| DOUBLELINE YIELD OPPORTUNITI | COM | 25862D105 |  | 272061 | 17451 | SH |  | SOLE |  | 17451 | 0 | 0 |
| DWS MUN INCOME TR NEW | COM | 233368109 |  | 70472 | 7972 | SH |  | SOLE |  | 7972 | 0 | 0 |
| EATON VANCE ENHANCED EQUITY | COM | 278274105 |  | 61045 | 2918 | SH |  | SOLE |  | 2918 | 0 | 0 |
| EATON VANCE MUN INCOME 2028 | SHS | 27829U105 |  | 44395 | 2465 | SH |  | SOLE |  | 2465 | 0 | 0 |
| EATON VANCE TAX ADVT DIV INC | COM | 27828G107 |  | 30728 | 1275 | SH |  | SOLE |  | 1275 | 0 | 0 |
| EATON VANCE TAX-MANAGED DIVE | COM | 27828N102 |  | 17868 | 1155 | SH |  | SOLE |  | 1155 | 0 | 0 |
| EATON VANCE TAX-MANAGED GLOB | COM | 27829F108 |  | 535999 | 61257 | SH |  | SOLE |  | 61257 | 0 | 0 |
| EOS ENERGY ENTERPRISES INC | COM CL A | 29415C101 |  | 584 | 114 | SH |  | SOLE |  | 114 | 0 | 0 |
| ESGL HLDGS LTD | *W EXP 10/19/202 | G3R95P116 |  | 620 | 20000 | SH |  | SOLE |  | 0 | 0 | 20000 |
| ETF OPPORTUNITIES TRUST | T REX 2X INVERSE | 26923N413 |  | 1538 | 368 | SH |  | SOLE |  | 368 | 0 | 0 |
| ETF OPPORTUNITIES TRUST | REX BITCOIN CORP | 26923N322 |  | 776952 | 26160 | SH |  | SOLE |  | 26160 | 0 | 0 |
| EXPEDIA GROUP INC | COM NEW | 30212P303 |  | 20579 | 122 | SH |  | SOLE |  | 122 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 1185800 | 11000 | SH | Call | SOLE |  | 11000 | 0 | 0 |
| FIDELITY COVINGTON TRUST | BLUE CHIP GRWTH | 316092352 |  | 537635 | 11145 | SH |  | SOLE |  | 11145 | 0 | 0 |
| FIDELITY ETHEREUM FD | SHS | 31613E103 |  | 19978562 | 793745 | SH |  | SOLE |  | 793745 | 0 | 0 |
| FIDELITY WISE ORIGIN BITCOIN | SHS | 315948109 |  | 36657040 | 390010 | SH |  | SOLE |  | 390010 | 0 | 0 |
| FIRST TR EXCH TRADED FD III | MANAGD MUN ETF | 33739N108 |  | 361295 | 7252 | SH |  | SOLE |  | 7252 | 0 | 0 |
| FIRST TR EXCH TRADED FD III | EME MRK BD ETF | 33739P202 |  | 176052 | 6096 | SH |  | SOLE |  | 6096 | 0 | 0 |
| FIRST TR EXCH TRADED FD III | MUNI HI INCM ETF | 33739P301 |  | 163450 | 3500 | SH |  | SOLE |  | 3500 | 0 | 0 |
| FIRST TR EXCH TRADED FD III | SHRT DUR MNG MUN | 33739P830 |  | 476287 | 23928 | SH |  | SOLE |  | 23928 | 0 | 0 |
| FIRST TR EXCH TRADED FD III | INSTL PFD SECS | 33739P855 |  | 11812 | 622 | SH |  | SOLE |  | 622 | 0 | 0 |
| FIRST TR EXCH TRADED FD III | CALIF MUN INCM | 33739P863 |  | 1581187 | 32962 | SH |  | SOLE |  | 32962 | 0 | 0 |
| FIRST TR EXCHANGE TRADED FD | BUYWRIT INCM ETF | 33738R308 |  | 2895141 | 126702 | SH |  | SOLE |  | 126702 | 0 | 0 |
| FIRST TR EXCHANGE-TRADED FD | SSI STRG ETF | 33739Q507 |  | 1244210 | 32059 | SH |  | SOLE |  | 32059 | 0 | 0 |
| FIRST TR EXCHANGE-TRADED FD | SENIOR LN FD | 33738D309 |  | 3625 | 79 | SH |  | SOLE |  | 79 | 0 | 0 |
| FIRST TR EXCHNG TRADED FD VI | SMITH UNCONSTRAI | 33740F888 |  | 392341 | 15763 | SH |  | SOLE |  | 15763 | 0 | 0 |
| FLAHERTY  CRUMRINE DYNAMIC | SHS | 33848W106 |  | 739 | 36 | SH |  | SOLE |  | 36 | 0 | 0 |
| FRANKLIN LTD DURATION INCOME | COM | 35472T101 |  | 108010 | 16824 | SH |  | SOLE |  | 16824 | 0 | 0 |
| FRANKLIN TEMPLETON ETF TR | INCOME FOCUS ETF | 35473P439 |  | 2518220 | 93095 | SH |  | SOLE |  | 93095 | 0 | 0 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 346800 | 8000 | SH | Call | SOLE |  | 8000 | 0 | 0 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 368475 | 8500 | SH | Put | SOLE |  | 8500 | 0 | 0 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 320010 | 7382 | SH |  | SOLE |  | 7382 | 0 | 0 |
| GABELLI EQUITY TR INC | COM | 362397101 |  | 156401 | 26873 | SH |  | SOLE |  | 26873 | 0 | 0 |
| GE AEROSPACE | COM NEW | 369604301 |  | 257390 | 1000 | SH | Call | SOLE |  | 1000 | 0 | 0 |
| GLOBAL X FDS | GLB X MLP ENRG I | 37954Y293 |  | 249324 | 3979 | SH |  | SOLE |  | 3979 | 0 | 0 |
| GRAYSCALE BITCOIN MINI TR ET | SHS NEW | 389930207 |  | 6490371 | 135924 | SH |  | SOLE |  | 135924 | 0 | 0 |
| GRAYSCALE ETHEREUM MINI TR E | SHS NEW | 38964R203 |  | 12808278 | 539978 | SH |  | SOLE |  | 539978 | 0 | 0 |
| GUGGENHEIM ACTIVE ALLOC FD | COMMON STOCK | 40170T106 |  | 12637 | 808 | SH |  | SOLE |  | 808 | 0 | 0 |
| GUGGENHEIM TAXABLE MUNICP BO | COM | 401664107 |  | 27012 | 1796 | SH |  | SOLE |  | 1796 | 0 | 0 |
| HANCOCK JOHN PFD INCOME FD | SH BEN INT | 41013W108 |  | 86938 | 5437 | SH |  | SOLE |  | 5437 | 0 | 0 |
| HANCOCK JOHN PFD INCOME FD I | COM | 41013X106 |  | 71746 | 4538 | SH |  | SOLE |  | 4538 | 0 | 0 |
| HANCOCK JOHN PFD INCOME FD I | COM | 41021P103 |  | 19608 | 1375 | SH |  | SOLE |  | 1375 | 0 | 0 |
| HANCOCK JOHN PREM DIVID FD | COM SH BEN INT | 41013T105 |  | 39826 | 3024 | SH |  | SOLE |  | 3024 | 0 | 0 |
| HERBALIFE LTD | COM SHS | G4412G101 |  | 810 | 94 | SH |  | SOLE |  | 94 | 0 | 0 |
| HERCULES CAPITAL INC | COM | 427096508 |  | 1206 | 66 | SH |  | SOLE |  | 66 | 0 | 0 |
| HIGH-TREND INTERNATIONAL GRO | ORD SHS CL A | G1901X108 |  | 5 | 25 | SH |  | SOLE |  | 25 | 0 | 0 |
| IMPINJ INC | COM | 453204109 |  | 1555 | 14 | SH |  | SOLE |  | 14 | 0 | 0 |
| INDIA FD INC | COM | 454089103 |  | 177929 | 10764 | SH |  | SOLE |  | 10764 | 0 | 0 |
| INNOVIVA INC | COM | 45781M101 |  | 502 | 25 | SH |  | SOLE |  | 25 | 0 | 0 |
| INNOVIVA INC | NOTE  2.500% 8/1 | 45781MAB7 |  | 2941250 | 2500000 | PRN |  | SOLE |  | 0 | 0 | 2500000 |
| INSULET CORP | NOTE  0.375% 9/0 | 45784PAK7 |  | 41678031 | 29597000 | PRN |  | SOLE |  | 0 | 0 | 29597000 |
| INTUITIVE MACHINES INC | CLASS A COM | 46125A100 |  | 1087 | 100 | SH |  | SOLE |  | 100 | 0 | 0 |
| INVESCO ACTIVELY MANAGED EXC | AAA CLO FLTNG RT | 46090A721 |  | 5572 | 218 | SH |  | SOLE |  | 218 | 0 | 0 |
| INVESCO ACTIVELY MANAGED EXC | VAR RATE INVT | 46090A879 |  | 3557 | 142 | SH |  | SOLE |  | 142 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | NY AMT FRE MUN | 46138E529 |  | 112550 | 5201 | SH |  | SOLE |  | 5201 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | SR LN ETF | 46138G508 |  | 808453 | 38645 | SH |  | SOLE |  | 38645 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | VAR RATE PFD | 46138G870 |  | 634526 | 25952 | SH |  | SOLE |  | 25952 | 0 | 0 |
| INVESCO EXCH TRD SLF IDX FD | BULLETSHARE 2034 | 46139W767 |  | 2688468 | 113360 | SH |  | SOLE |  | 113360 | 0 | 0 |
| INVESCO EXCH TRD SLF IDX FD | INVSC 30 MUNI BD | 46138J445 |  | 1024561 | 47654 | SH |  | SOLE |  | 47654 | 0 | 0 |
| INVESCO EXCH TRD SLF IDX FD | BULSHS 2028 MUNI | 46138J486 |  | 7434 | 320 | SH |  | SOLE |  | 320 | 0 | 0 |
| INVESCO EXCH TRD SLF IDX FD | BULSHS 2027 MUNI | 46138J494 |  | 2089088 | 89011 | SH |  | SOLE |  | 89011 | 0 | 0 |
| INVESCO EXCH TRD SLF IDX FD | BULSHS 2026 MUNI | 46138J510 |  | 641633 | 27234 | SH |  | SOLE |  | 27234 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 181195 | 997 | SH |  | SOLE |  | 997 | 0 | 0 |
| INVESCO MUNICIPAL TRUST | COM | 46131J103 |  | 178059 | 19460 | SH |  | SOLE |  | 19460 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 2089612 | 3788 | SH |  | SOLE |  | 3788 | 0 | 0 |
| INVESCO QUALITY MUN INCOME T | COM | 46133G107 |  | 187262 | 19964 | SH |  | SOLE |  | 19964 | 0 | 0 |
| INVESCO TR INVT GRADE MUNS | COM | 46131M106 |  | 14064 | 1482 | SH |  | SOLE |  | 1482 | 0 | 0 |
| INVESCO VALUE MUN INCOME TR | COM | 46132P108 |  | 194307 | 16693 | SH |  | SOLE |  | 16693 | 0 | 0 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 76860295 | 1255682 | SH |  | SOLE |  | 1255682 | 0 | 0 |
| ISHARES ETHEREUM TR | SHS | 46438R105 |  | 13587318 | 712497 | SH |  | SOLE |  | 712497 | 0 | 0 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 1220860 | 37210 | SH |  | SOLE |  | 37210 | 0 | 0 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 |  | 648196 | 7345 | SH |  | SOLE |  | 7345 | 0 | 0 |
| ISHARES TR | CHINA LG-CAP ETF | 464287184 |  | 147444 | 4011 | SH |  | SOLE |  | 4011 | 0 | 0 |
| ISHARES TR | HDG MSCI EAFE | 46434V803 |  | 1020782 | 26891 | SH |  | SOLE |  | 26891 | 0 | 0 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 |  | 627215 | 7777 | SH |  | SOLE |  | 7777 | 0 | 0 |
| ISHARES TR | JPMORGAN USD EMG | 464288281 |  | 134947 | 1457 | SH |  | SOLE |  | 1457 | 0 | 0 |
| ISHARES TR | MSCI CHINA ETF | 46429B671 |  | 79675 | 1446 | SH |  | SOLE |  | 1446 | 0 | 0 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 133721 | 2772 | SH |  | SOLE |  | 2772 | 0 | 0 |
| ISHARES TR | NATIONAL MUN ETF | 464288414 |  | 2447444 | 23425 | SH |  | SOLE |  | 23425 | 0 | 0 |
| ISHARES TR | NEW YORK MUN ETF | 464288323 |  | 256320 | 4916 | SH |  | SOLE |  | 4916 | 0 | 0 |
| ISHARES TR | PFD AND INCM SEC | 464288687 |  | 65563 | 2137 | SH |  | SOLE |  | 2137 | 0 | 0 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 328443 | 1691 | SH |  | SOLE |  | 1691 | 0 | 0 |
| ISHARES TR | RUS MD CP GR ETF | 464287481 |  | 10678 | 77 | SH |  | SOLE |  | 77 | 0 | 0 |
| ISHARES TR | RUS MDCP VAL ETF | 464287473 |  | 44267 | 335 | SH |  | SOLE |  | 335 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 6474 | 30 | SH |  | SOLE |  | 30 | 0 | 0 |
| ISHARES TR | SELECT DIVID ETF | 464287168 |  | 68796 | 518 | SH |  | SOLE |  | 518 | 0 | 0 |
| ISHARES TR | TIPS BD ETF | 464287176 |  | 252872 | 2298 | SH |  | SOLE |  | 2298 | 0 | 0 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 162614 | 383 | SH |  | SOLE |  | 383 | 0 | 0 |
| ISHARES TR | MSCI ACWI ETF | 464288257 |  | 187370 | 1457 | SH |  | SOLE |  | 1457 | 0 | 0 |
| ISHARES TR | CALIF MUN BD ETF | 464288356 |  | 339457 | 6090 | SH |  | SOLE |  | 6090 | 0 | 0 |
| ISHARES TR | FLTG RATE NT ETF | 46429B655 |  | 27602 | 541 | SH |  | SOLE |  | 541 | 0 | 0 |
| ISHARES TR | IBONDS DEC 2030 | 46438G687 |  | 1018471 | 39691 | SH |  | SOLE |  | 39691 | 0 | 0 |
| ISHARES U S ETF TR | SHORT DURATION B | 46431W507 |  | 6081 | 119 | SH |  | SOLE |  | 119 | 0 | 0 |
| ISHARES U S ETF TR | IT RT HDG HGYL | 46431W606 |  | 923016 | 10667 | SH |  | SOLE |  | 10667 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | EQUITY PREMIUM | 46641Q332 |  | 80613 | 1418 | SH |  | SOLE |  | 1418 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | INCOME ETF | 46641Q159 |  | 276484 | 5969 | SH |  | SOLE |  | 5969 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | MUNICIPAL ETF | 46641Q647 |  | 293869 | 5920 | SH |  | SOLE |  | 5920 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHT MUNCPL | 46641Q654 |  | 4481164 | 88004 | SH |  | SOLE |  | 88004 | 0 | 0 |
| JANUS DETROIT STR TR | HENDRSON AAA CL | 47103U845 |  | 106118 | 2091 | SH |  | SOLE |  | 2091 | 0 | 0 |
| JANUS DETROIT STR TR | HENDERSON MTG | 47103U852 |  | 337695 | 7496 | SH |  | SOLE |  | 7496 | 0 | 0 |
| KKR  CO INC | 6.25 CON SER D | 48251W500 |  | 5358 | 100 | SH |  | SOLE |  | 100 | 0 | 0 |
| LAUDER ESTEE COS INC | CL A | 518439104 |  | 81446 | 1008 | SH |  | SOLE |  | 1008 | 0 | 0 |
| LIBERTY ALL STAR EQUITY FD | SH BEN INT | 530158104 |  | 431420 | 63351 | SH |  | SOLE |  | 63351 | 0 | 0 |
| LIBERTY MEDIA CORP DEL | COM LBTY LIV S A | 531229748 |  | 3179 | 40 | SH |  | SOLE |  | 40 | 0 | 0 |
| LITHIUM ARGENTINA AG | COM SHS | H5012F103 |  | 2 | 1 | SH |  | SOLE |  | 1 | 0 | 0 |
| LIVANOVA PLC | SHS | G5509L101 |  | 1261 | 28 | SH |  | SOLE |  | 28 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 1623798 | 2200 | SH | Call | SOLE |  | 2200 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 2509506 | 3400 | SH | Put | SOLE |  | 3400 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 199284 | 270 | SH |  | SOLE |  | 270 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 397928 | 800 | SH | Call | SOLE |  | 800 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 298446 | 600 | SH | Put | SOLE |  | 600 | 0 | 0 |
| MICROSTRATEGY INC | CL A NEW | 594972408 |  | 5299860 | 13111 | SH |  | SOLE |  | 13111 | 0 | 0 |
| MONSTER BEVERAGE CORP NEW | COM | 61174X109 |  | 626400 | 10000 | SH | Call | SOLE |  | 10000 | 0 | 0 |
| MORGAN STANLEY EMKT DBT FD I | COM | 61744H105 |  | 68720 | 8890 | SH |  | SOLE |  | 8890 | 0 | 0 |
| NABORS INDUSTRIES LTD | SHS | G6359F137 |  | 84 | 3 | SH |  | SOLE |  | 3 | 0 | 0 |
| NEBIUS GROUP N.V. | SHS CLASS A | N97284108 |  | 830 | 15 | SH |  | SOLE |  | 15 | 0 | 0 |
| NEOGENOMICS INC | COM NEW | 64049M209 |  | 15 | 2 | SH |  | SOLE |  | 2 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 121861 | 91 | SH |  | SOLE |  | 91 | 0 | 0 |
| NEUBERGER BERMAN HIGH YIELD | COM | 64128C106 |  | 137281 | 18111 | SH |  | SOLE |  | 18111 | 0 | 0 |
| NEUBERGER BERMAN MUN FD INC | COM | 64124P101 |  | 109752 | 11165 | SH |  | SOLE |  | 11165 | 0 | 0 |
| NEW MTN FIN CORP | COM | 647551100 |  | 32 | 3 | SH |  | SOLE |  | 3 | 0 | 0 |
| NEW YORK LIFE INVTS ACTIVE E | NYLI MACKAY MUN | 45409F827 |  | 659238 | 27641 | SH |  | SOLE |  | 27641 | 0 | 0 |
| NEW YORK LIFE INVTS ACTIVE E | NYLI MACKAY MUNI | 45409F843 |  | 932400 | 40000 | SH |  | SOLE |  | 40000 | 0 | 0 |
| NEXTERA ENERGY INC | UNIT 09/01/2025 | 65339F713 |  | 45041346 | 1134000 | SH |  | SOLE |  | 0 | 0 | 1134000 |
| NIKE INC | CL B | 654106103 |  | 108975 | 1534 | SH |  | SOLE |  | 1534 | 0 | 0 |
| NRG ENERGY INC | DBCV  2.750% 6/0 | 629377CG5 |  | 192575030 | 49192000 | PRN |  | SOLE |  | 0 | 0 | 49192000 |
| NUVEEN CORE EQUITY ALPHA FD | COM | 67090X107 |  | 57645 | 3719 | SH |  | SOLE |  | 3719 | 0 | 0 |
| NUVEEN DOW 30 DYNMC OVERWRT | SHS | 67075F105 |  | 40969 | 2857 | SH |  | SOLE |  | 2857 | 0 | 0 |
| NUVEEN DYNAMIC MUN OPPORTUNI | COM SHS | 67079X102 |  | 168199 | 16703 | SH |  | SOLE |  | 16703 | 0 | 0 |
| NUVEEN FLOATING RATE INCOME | COM | 67072T108 |  | 79161 | 9346 | SH |  | SOLE |  | 9346 | 0 | 0 |
| NUVEEN GLOBAL HIGH INCOME FD | SHS | 67075G103 |  | 26041 | 2014 | SH |  | SOLE |  | 2014 | 0 | 0 |
| NUVEEN MULTI ASSET INCOME FU | COM | 670750108 |  | 144866 | 11470 | SH |  | SOLE |  | 11470 | 0 | 0 |
| NUVEEN MUNICIPAL CREDIT INC | COM SH BEN INT | 67070X101 |  | 504383 | 42314 | SH |  | SOLE |  | 42314 | 0 | 0 |
| NUVEEN N Y MUN VALUE FD | COM | 67062M105 |  | 13682 | 1687 | SH |  | SOLE |  | 1687 | 0 | 0 |
| NUVEEN NEW JERSEY QULT MUN F | COM | 67069Y102 |  | 150762 | 13283 | SH |  | SOLE |  | 13283 | 0 | 0 |
| NUVEEN NEW YORK AMT QLT MUNI | COM | 670656107 |  | 83204 | 8396 | SH |  | SOLE |  | 8396 | 0 | 0 |
| NUVEEN QUALITY MUNCP INCOME | COM | 67066V101 |  | 207567 | 18385 | SH |  | SOLE |  | 18385 | 0 | 0 |
| NUVEEN REAL ESTATE INCOME FD | COM | 67071B108 |  | 77084 | 9908 | SH |  | SOLE |  | 9908 | 0 | 0 |
| NUVEEN SELECT TAX-FREE INCOM | SH BEN INT | 67062F100 |  | 151375 | 10774 | SH |  | SOLE |  | 10774 | 0 | 0 |
| NUVEEN TAXABLE MUNICPAL INM | COM | 67074C103 |  | 32431 | 2050 | SH |  | SOLE |  | 2050 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 315980 | 2000 | SH | Call | SOLE |  | 2000 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 1190455 | 7535 | SH |  | SOLE |  | 7535 | 0 | 0 |
| NXG CUSHING MIDSTREAM ENERGY | COM NEW | 231631300 |  | 39894 | 942 | SH |  | SOLE |  | 942 | 0 | 0 |
| NXG NEXTGEN INFRASTR INCM FD | COM | 231647207 |  | 76290 | 1517 | SH |  | SOLE |  | 1517 | 0 | 0 |
| NYLI CBRE GBL INFR MEGTRNDS | COM | 56064Q107 |  | 231751 | 16309 | SH |  | SOLE |  | 16309 | 0 | 0 |
| OCCIDENTAL PETE CORP | COM | 674599105 |  | 327678 | 7800 | SH | Call | SOLE |  | 7800 | 0 | 0 |
| OCCIDENTAL PETE CORP | COM | 674599105 |  | 105025 | 2500 | SH | Put | SOLE |  | 2500 | 0 | 0 |
| OCCIDENTAL PETE CORP | COM | 674599105 |  | 93262 | 2220 | SH |  | SOLE |  | 2220 | 0 | 0 |
| OPENDOOR TECHNOLOGIES INC | COM | 683712103 |  | 721 | 1353 | SH |  | SOLE |  | 1353 | 0 | 0 |
| PACIRA BIOSCIENCES INC | COM | 695127100 |  | 932 | 39 | SH |  | SOLE |  | 39 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 408960 | 3000 | SH | Put | SOLE |  | 3000 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 3759569 | 27579 | SH |  | SOLE |  | 27579 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 1534800 | 7500 | SH | Call | SOLE |  | 7500 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 716240 | 3500 | SH | Put | SOLE |  | 3500 | 0 | 0 |
| PATRICK INDS INC | COM | 703343103 |  | 1015 | 11 | SH |  | SOLE |  | 11 | 0 | 0 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 817520 | 11000 | SH | Put | SOLE |  | 11000 | 0 | 0 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 150052 | 2019 | SH |  | SOLE |  | 2019 | 0 | 0 |
| PEABODY ENERGY CORP | COM | 704551100 |  | 1342 | 100 | SH |  | SOLE |  | 100 | 0 | 0 |
| PENGUIN SOLUTIONS INC | SHS | G8232Y101 |  | 2872 | 145 | SH |  | SOLE |  | 145 | 0 | 0 |
| PENN ENTERTAINMENT INC | COM | 707569109 |  | 1215 | 68 | SH |  | SOLE |  | 68 | 0 | 0 |
| PENNYMAC MTG INVT TR | COM | 70931T103 |  | 13 | 1 | SH |  | SOLE |  | 1 | 0 | 0 |
| PGIM GLOBAL HIGH YIELD FD FO | COM | 69346J106 |  | 129795 | 9679 | SH |  | SOLE |  | 9679 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 120752 | 663 | SH |  | SOLE |  | 663 | 0 | 0 |
| PIMCO CORPORATE  INCM STRG | COM | 72200U100 |  | 281756 | 22203 | SH |  | SOLE |  | 22203 | 0 | 0 |
| PIMCO DYNAMIC INCOME OPRNTS | COM BEN SHS | 69355M107 |  | 290049 | 21517 | SH |  | SOLE |  | 21517 | 0 | 0 |
| PIMCO ETF TR | MULTISECTOR BD | 72201R585 |  | 2323099 | 87532 | SH |  | SOLE |  | 87532 | 0 | 0 |
| PIMCO ETF TR | SR LN ACTIVE ETF | 72201R627 |  | 4079 | 80 | SH |  | SOLE |  | 80 | 0 | 0 |
| PIMCO ETF TR | MUNI INCOME OPP | 72201R635 |  | 552133 | 12483 | SH |  | SOLE |  | 12483 | 0 | 0 |
| PIMCO ETF TR | SHTRM MUN BD ACT | 72201R874 |  | 2279925 | 45444 | SH |  | SOLE |  | 45444 | 0 | 0 |
| PIMCO HIGH INCOME FD | COM SHS | 722014107 |  | 110482 | 23017 | SH |  | SOLE |  | 23017 | 0 | 0 |
| PIMCO INCOME STRATEGY FD | COM | 72201H108 |  | 127902 | 15336 | SH |  | SOLE |  | 15336 | 0 | 0 |
| PIMCO MUN INCOME FD | COM | 72200R107 |  | 86495 | 10839 | SH |  | SOLE |  | 10839 | 0 | 0 |
| PIMCO MUN INCOME FD II | COM | 72200W106 |  | 194691 | 26133 | SH |  | SOLE |  | 26133 | 0 | 0 |
| PNC FINL SVCS GROUP INC | COM | 693475105 |  | 246447 | 1322 | SH |  | SOLE |  | 1322 | 0 | 0 |
| PORCH GROUP INC | COM | 733245104 |  | 271 | 23 | SH |  | SOLE |  | 23 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 318640 | 2000 | SH | Put | SOLE |  | 2000 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 282952 | 1776 | SH |  | SOLE |  | 1776 | 0 | 0 |
| PROS HOLDINGS INC | COM | 74346Y103 |  | 251 | 16 | SH |  | SOLE |  | 16 | 0 | 0 |
| PUTNAM MUN OPPORTUNITIES TR | SH BEN INT | 746922103 |  | 79 | 8 | SH |  | SOLE |  | 8 | 0 | 0 |
| PUTNAM PREMIER INCOME TR | SH BEN INT | 746853100 |  | 67488 | 18389 | SH |  | SOLE |  | 18389 | 0 | 0 |
| RAPID7 INC | COM | 753422104 |  | 208 | 9 | SH |  | SOLE |  | 9 | 0 | 0 |
| REPAY HLDGS CORP | COM CL A | 76029L100 |  | 487 | 101 | SH |  | SOLE |  | 101 | 0 | 0 |
| RIO TINTO PLC | SPONSORED ADR | 767204100 |  | 204155 | 3500 | SH | Call | SOLE |  | 3500 | 0 | 0 |
| RIVERNORTH MANAGED DUR MUN I | COM | 76882M104 |  | 35361 | 2515 | SH |  | SOLE |  | 2515 | 0 | 0 |
| ROYAL CARIBBEAN GROUP | COM | V7780T103 |  | 313140 | 1000 | SH | Call | SOLE |  | 1000 | 0 | 0 |
| ROYAL CARIBBEAN GROUP | NOTE  6.000% 8/1 | 780153BQ4 |  | 33971598 | 5381000 | PRN |  | SOLE |  | 0 | 0 | 5381000 |
| ROYCE SMALL CAP TRUST INC | COM | 780910105 |  | 441311 | 29323 | SH |  | SOLE |  | 29323 | 0 | 0 |
| SCHLUMBERGER LTD | COM STK | 806857108 |  | 726700 | 21500 | SH | Call | SOLE |  | 21500 | 0 | 0 |
| SCHLUMBERGER LTD | COM STK | 806857108 |  | 101400 | 3000 | SH | Put | SOLE |  | 3000 | 0 | 0 |
| SCHLUMBERGER LTD | COM STK | 806857108 |  | 149362 | 4419 | SH |  | SOLE |  | 4419 | 0 | 0 |
| SCHWAB STRATEGIC TR | MUN BD ETF | 808524649 |  | 2518000 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 |  | 40030 | 472 | SH |  | SOLE |  | 472 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI INT-UTILS | 81369Y886 |  | 630089 | 7716 | SH |  | SOLE |  | 7716 | 0 | 0 |
| SEMTECH CORP | COM | 816850101 |  | 2528 | 56 | SH |  | SOLE |  | 56 | 0 | 0 |
| SERIES PORTFOLIOS TR | ELDRIDGE AAA CLO | 81752T486 |  | 2334694 | 91199 | SH |  | SOLE |  | 91199 | 0 | 0 |
| SHAKE SHACK INC | CL A | 819047101 |  | 1265 | 9 | SH |  | SOLE |  | 9 | 0 | 0 |
| SHELL PLC | SPON ADS | 780259305 |  | 352050 | 5000 | SH | Put | SOLE |  | 5000 | 0 | 0 |
| SNOWFLAKE INC | CL A | 833445109 |  | 827949 | 3700 | SH | Call | SOLE |  | 3700 | 0 | 0 |
| SOLAREDGE TECHNOLOGIES INC | COM | 83417M104 |  | 1612 | 79 | SH |  | SOLE |  | 79 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 785905 | 1272 | SH |  | SOLE |  | 1272 | 0 | 0 |
| SPDR SERIES TRUST | S REGL BKG | 78464A698 |  | 160294 | 2699 | SH |  | SOLE |  | 2699 | 0 | 0 |
| SPDR SERIES TRUST | BLOOMBERG EMERGI | 78464A391 |  | 135184 | 6317 | SH |  | SOLE |  | 6317 | 0 | 0 |
| SPDR SERIES TRUST | NUVEEN ICE HIGH | 78464A284 |  | 2305 | 93 | SH |  | SOLE |  | 93 | 0 | 0 |
| SPDR SERIES TRUST | BBG CONV SEC ETF | 78464A359 |  | 7150173 | 86501 | SH |  | SOLE |  | 86501 | 0 | 0 |
| SPDR SERIES TRUST | NUVEEN ICE MUNIC | 78468R721 |  | 179573 | 4020 | SH |  | SOLE |  | 4020 | 0 | 0 |
| SPDR SERIES TRUST | NUVEEN ICE SHORT | 78468R739 |  | 52326 | 1094 | SH |  | SOLE |  | 1094 | 0 | 0 |
| SPHERE ENTERTAINMENT CO | CL A | 55826T102 |  | 2424 | 58 | SH |  | SOLE |  | 58 | 0 | 0 |
| SPROTT PHYSICAL GOLD TR | UNIT | 85207H104 |  | 1813615 | 71543 | SH |  | SOLE |  | 71543 | 0 | 0 |
| SRH TOTAL RETURN FUND INC | COM | 101507101 |  | 192447 | 10885 | SH |  | SOLE |  | 10885 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 650573 | 7100 | SH | Call | SOLE |  | 7100 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 16127 | 176 | SH |  | SOLE |  | 176 | 0 | 0 |
| SUMMIT HOTEL PPTYS INC | COM | 866082100 |  | 66 | 13 | SH |  | SOLE |  | 13 | 0 | 0 |
| SUPER MICRO COMPUTER INC | COM NEW | 86800U302 |  | 4939963 | 100795 | SH |  | SOLE |  | 100795 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 452980 | 2000 | SH | Call | SOLE |  | 2000 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 1132450 | 5000 | SH | Put | SOLE |  | 5000 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 250951 | 1108 | SH |  | SOLE |  | 1108 | 0 | 0 |
| TAKE-TWO INTERACTIVE SOFTWAR | COM | 874054109 |  | 46142 | 190 | SH |  | SOLE |  | 190 | 0 | 0 |
| TANDEM DIABETES CARE INC | COM NEW | 875372203 |  | 1007 | 54 | SH |  | SOLE |  | 54 | 0 | 0 |
| TARGET CORP | COM | 87612E106 |  | 35909 | 364 | SH |  | SOLE |  | 364 | 0 | 0 |
| TCW STRATEGIC INCOME FD INC | COM | 872340104 |  | 30993 | 6351 | SH |  | SOLE |  | 6351 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 7579368 | 23860 | SH |  | SOLE |  | 23860 | 0 | 0 |
| TEXAS INSTRS INC | COM | 882508104 |  | 207620 | 1000 | SH | Put | SOLE |  | 1000 | 0 | 0 |
| TEXAS INSTRS INC | COM | 882508104 |  | 157376 | 758 | SH |  | SOLE |  | 758 | 0 | 0 |
| TIDAL TR II | YIELDMAX SHORT T | 88636J519 |  | 68519 | 14486 | SH |  | SOLE |  | 14486 | 0 | 0 |
| TOPGOLF CALLAWAY BRANDS CORP | COM | 131193104 |  | 177 | 22 | SH |  | SOLE |  | 22 | 0 | 0 |
| TOTALENERGIES SE | SPONSORED ADS | 89151E109 |  | 61 | 1 | SH |  | SOLE |  | 1 | 0 | 0 |
| TRANSOCEAN LTD | REGISTERED SHS | H8817H100 |  | 1008 | 389 | SH |  | SOLE |  | 389 | 0 | 0 |
| TRAVERE THERAPEUTICS INC | COM | 89422G107 |  | 740 | 50 | SH |  | SOLE |  | 50 | 0 | 0 |
| TYSON FOODS INC | CL A | 902494103 |  | 279700 | 5000 | SH | Put | SOLE |  | 5000 | 0 | 0 |
| TYSON FOODS INC | CL A | 902494103 |  | 118705 | 2122 | SH |  | SOLE |  | 2122 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 1306200 | 14000 | SH | Call | SOLE |  | 14000 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 326550 | 3500 | SH | Put | SOLE |  | 3500 | 0 | 0 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 477648 | 4732 | SH |  | SOLE |  | 4732 | 0 | 0 |
| UNITI GROUP INC | COM | 91325V108 |  | 588 | 136 | SH |  | SOLE |  | 136 | 0 | 0 |
| VALERO ENERGY CORP | COM | 91913Y100 |  | 268840 | 2000 | SH | Call | SOLE |  | 2000 | 0 | 0 |
| VANECK BITCOIN ETF | SH BEN INT | 92189K105 |  | 11700 | 384 | SH |  | SOLE |  | 384 | 0 | 0 |
| VANECK ETF TRUST | SEMICONDUCTR ETF | 92189F676 |  | 20358 | 73 | SH |  | SOLE |  | 73 | 0 | 0 |
| VANECK ETF TRUST | SHRT HGH YLD MUN | 92189F387 |  | 719963 | 31872 | SH |  | SOLE |  | 31872 | 0 | 0 |
| VANECK ETF TRUST | IG FLOATING RATE | 92189F486 |  | 2703 | 106 | SH |  | SOLE |  | 106 | 0 | 0 |
| VANECK ETF TRUST | JP MRGAN EM LOC | 92189H300 |  | 30471 | 1202 | SH |  | SOLE |  | 1202 | 0 | 0 |
| VANECK ETF TRUST | AA BB CLO ETF | 92189H656 |  | 446657 | 8789 | SH |  | SOLE |  | 8789 | 0 | 0 |
| VANECK ETF TRUST | CLO ETF | 92189H748 |  | 216248 | 4084 | SH |  | SOLE |  | 4084 | 0 | 0 |
| VANECK ETHEREUM TR | SHS | 92189L103 |  | 422476 | 11443 | SH |  | SOLE |  | 11443 | 0 | 0 |
| VANGUARD INDEX FDS | REAL ESTATE ETF | 922908553 |  | 108208 | 1215 | SH |  | SOLE |  | 1215 | 0 | 0 |
| VANGUARD MUN BD FDS | SHORT TAX EXEMPT | 922907696 |  | 3022343 | 39920 | SH |  | SOLE |  | 39920 | 0 | 0 |
| VANGUARD MUN BD FDS | CORE TAX EXEMPT | 922907712 |  | 1658636 | 22545 | SH |  | SOLE |  | 22545 | 0 | 0 |
| VANGUARD MUN BD FDS | TAX EXEMPT BD | 922907746 |  | 1363426 | 27808 | SH |  | SOLE |  | 27808 | 0 | 0 |
| VANGUARD WELLINGTON FD | SHORT TRM TAX EX | 921935870 |  | 2194521 | 21743 | SH |  | SOLE |  | 21743 | 0 | 0 |
| VARONIS SYS INC | NOTE  1.250% 8/1 | 922280AB8 |  | 20938764 | 12648000 | PRN |  | SOLE |  | 0 | 0 | 12648000 |
| VERINT SYS INC | COM | 92343X100 |  | 20 | 1 | SH |  | SOLE |  | 1 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 346160 | 8000 | SH | Call | SOLE |  | 8000 | 0 | 0 |
| VERTEX INC | CL A | 92538J106 |  | 2509 | 71 | SH |  | SOLE |  | 71 | 0 | 0 |
| VIAVI SOLUTIONS INC | COM | 925550105 |  | 624 | 62 | SH |  | SOLE |  | 62 | 0 | 0 |
| VIRTUS ARTIFICIAL INTELLIGEN | COM | 92838Y100 |  | 46637 | 1879 | SH |  | SOLE |  | 1879 | 0 | 0 |
| VIRTUS CONVERTIBLE  INCOME | COM NEW | 92838X805 |  | 69679 | 4907 | SH |  | SOLE |  | 4907 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 14557 | 41 | SH |  | SOLE |  | 41 | 0 | 0 |
| VOLATILITY SHS TR | 2X ETHER ETF NEW | 92864M798 |  | 3679000 | 65000 | SH | Put | SOLE |  | 65000 | 0 | 0 |
| VOYA GLBL ADV  PREM OPP FD | COM | 92912R104 |  | 60821 | 6125 | SH |  | SOLE |  | 6125 | 0 | 0 |
| WEIBO CORP | SPONSORED ADR | 948596101 |  | 1858 | 195 | SH |  | SOLE |  | 195 | 0 | 0 |
| WESTERN ASSET DIVERSIFIED IN | COM SHS BEN INT | 95790K109 |  | 332075 | 22377 | SH |  | SOLE |  | 22377 | 0 | 0 |
| WESTERN ASSET HIGH INCOM FD | COM | 95766J102 |  | 58760 | 13697 | SH |  | SOLE |  | 13697 | 0 | 0 |
| WISDOMTREE BITCOIN FD | SHS BEN INT | 97720F101 |  | 183323 | 1605 | SH |  | SOLE |  | 1605 | 0 | 0 |
| WISDOMTREE INC | COM | 97717P104 |  | 2164 | 188 | SH |  | SOLE |  | 188 | 0 | 0 |
| ZOOM COMMUNICATIONS INC | CL A | 98980L101 |  | 389900 | 5000 | SH | Call | SOLE |  | 5000 | 0 | 0 |

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