Aequim Alternative Investments LP

Hedge Fund • Multi-Strategy

Aequim Alternative Investments LP is a Multi-Strategy Hedge Fund based in Mill Valley, CA led by Franklin Michael Parlamis, reporting $4.8B in AUM as of Q3 2025 with 62% ETF concentration, 95% concentrated in top 10 holdings, and 59% allocation to SPY.

CIOFranklin Michael Parlamis

Portfolio Value: $729.1M
Positions: 29
Top Holding: SPY at 59.39%
Last Reported: Q3 2025

Address2 Belvedere Place, Suite 250, Mill Valley, CA, 94941, United States

Top Holdings

Largest long holdings in Aequim Alternative Investments LP's portfolio (94.8% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 SPDR S&P 500 ETF Trust SPY	ETF ETF	$433.0M	59.39%	+$433.0M New	— 650.0K shares	Q3 2025 Held for 2 months
2 BTSGU BrightSpring Health Services BTSGU	Medical - Healthcare Information Services Healthcare	$130.4M	17.89%	—	— 1.3M shares	Q1 2025 Held for 8 months
3 Spotify Technology SPOT	Internet Content & Information Communication Services	$33.2M	4.55%	+$10.5M Bought	0.02% 47.5K shares	Q3 2024 Held for 1y 2m
4 Coinbase Global, Inc. COIN	Software - Application Technology	$23.2M	3.18%	—	0.03% 68.6K shares	Q3 2021 Held for 4y 2m
5 iShares Bitcoin Trust IBIT	ETF ETF	$16.3M	2.23%	+$16.3M New	— 250.0K shares	Q3 2025 Held for 2 months
6 Fluor FLR	Engineering & Construction Industrials	$14.8M	2.04%	-$952.7K Sold	0.22% 352.7K shares	Q3 2023 Held for 2y 2m
7 CyberArk Software CYBR	Software - Infrastructure Technology	$12.4M	1.70%	+$6.2M Bought	0.05% 25.6K shares	Q2 2025 Held for 5 months
8 Cheesecake Factory CAKE	Restaurants Consumer Cyclical	$10.7M	1.46%	+$7.7M Bought	0.39% 195.3K shares	Q2 2025 Held for 5 months
9 Nutanix, Inc. NTNX	Software - Infrastructure Technology	$10.0M	1.38%	—	0.05% 134.9K shares	Q2 2025 Held for 5 months
10 Oddity Tech ODD	Software - Infrastructure Technology	$7.0M	0.96%	+$7.0M New	0.20% 112.4K shares	Q3 2025 Held for 2 months

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Aequim Alternative Investments LP's latest filing

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Market Value

$729.1M

Prior: $273.4M

Q/Q Change

+166.7%

+$455.7M

Net Flows % of MV

+59.76%

Turnover Ratio

37.43%

New Purchases

6 stocks

$463.8M

Added To

6 stocks

+$26.8M

Sold Out Of

6 stocks

$54.0M

Reduced Holdings

1 stocks

-$952.7K

Increased Positions

Position	Shares Δ	Change
1 SPDR S&P 500 ETF Trust SPY	New	0 → 650.0K +$433.0M
2 iShares Bitcoin Trust IBIT	New	0 → 250.0K +$16.3M
3 Oddity Tech ODD	New	0 → 112.4K +$7.0M
4 Fox Corporation FOX	New	0 → 44.0K +$2.5M
5 Newell Brands NWL	New	0 → 480.0K +$2.5M

Decreased Positions

Position	Shares Δ	Change
1 Carnival Corporation CCL	Sold	1.0M → 0 −$28.3M
2 Microchip Technology MCHP	Sold	171.0K → 0 −$12.0M
3 Etsy ETSY	Sold	122.1K → 0 −$6.1M
4 Cloudflare, Inc. NET	Sold	23.5K → 0 −$4.6M
5 Workiva WK	Sold	22.2K → 0 −$1.5M