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Graham Capital Management, L.P. — 13F Holdings & Portfolio

CIK 1315421 · latest 13F-HR filed 2026-08-14

Backtest portfolio

Graham Capital Management, L.P. manages $5.50B in 13F-reported U.S. long-equity assets across 1,222 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are IWM (17.16%), GDX (3.45%), GME (2.73%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 418 new positions, exited 338, added to 381, and trimmed 302.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

Filer Information
Address
40 HIGHLAND AVENUE
ROWAYTON, CT 06853
Phone
(203) 899-3400
Filing Manager
Graham Capital Management, L.P.
ROWAYTON, CT
Signatory
Tim Sperry
Chief Compliance Officer
Loading holdings…
AUM

$5.50B

Long-equity book

Holdings

1,222

Distinct positions

Period

2026-06-30

Filed 2026-08-14

Q/Q Activity

+418 / −338 / ↑381 / ↓302

vs 2026-03-31

Firm Profile & Key People
Name Title / Status Ownership Type

Top Adds (vs prior quarter)

  • NVIDIA CORPORATION$31.1M +60.7%
  • MARA HOLDINGS INC$31.0M +206.3%
  • BLOCK INC$22.2M +1119.3%
  • SPDR SERIES TRUST$22.1M +546.7%
  • SELECT SECTOR SPDR TR$20.6M +519.0%
Show all 381 →

Top Trims

  • NETFLIX INC.-$33.0M -98.8%
  • ISHARES BITCOIN TRUST ETF-$26.9M -75.8%
  • SALESFORCE INC-$23.8M -75.9%
  • ISHARES INC-$22.0M -49.3%
  • SPOTIFY TECHNOLOGY S A-$14.7M -94.5%
Show all 302 →

New Positions

  • GAMESTOP CORP$150.1M
  • PENGUIN SOLUTIONS INC$119.9M
  • PURECYCLE TECHNOLOGIES INC$58.1M
  • APPLIED OPTOELECTRONICS INC$49.9M
  • KEEL INFRASTRUCTURE CORP$37.9M
Show all 418 →

Exited Positions

  • PURECYCLE TECHNOLOGIES INC$59.4M
  • SELECT SECTOR SPDR TR$32.5M
  • TRAVERE THERAPEUTICS INC$21.4M
  • SOLARIS ENERGY INFRAS INC$16.6M
  • APPLIED OPTOELECTRONICS INC$14.6M
Show all 338 →
All Holdings

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 ISHARES TR Put IWM 464287655 $943.0M 17.16% 3,138,600 SH
2 VANECK ETF TRUST Call GDX 92189F106 $189.5M 3.45% 2,512,000 SH
3 GAMESTOP CORP GME 36467WAG4 $150.1M 2.73% 147,647,000 PRN
4 PENGUIN SOLUTIONS INC PENG 83205YAE4 $119.9M 2.18% 42,250,000 PRN
5 INVESCO QQQ TR Call QQQ 46090E103 $114.9M 2.09% 156,000 SH
6 APPLIED DIGITAL CORP APLD 038169AB4 $97.1M 1.77% 24,363,000 PRN
7 NVIDIA CORPORATION NVDA 67066G104 $82.4M 1.50% 411,680 SH
8 GREEN PLAINS INC GPRE 393222AM6 $78.0M 1.42% 57,430,000 PRN
9 AMAZON COM INC AMZN 023135106 $75.1M 1.37% 314,943 SH
10 GROUPON INC GRPN 399473AK3 $73.8M 1.34% 74,371,000 PRN
11 RIVIAN AUTOMOTIVE INC RIVN 76954AAD5 $64.0M 1.17% 59,794,000 PRN
12 CALUMET INC Put CLMT 131428104 $61.7M 1.12% 1,713,400 SH
13 SUNRUN INC RUN 86771WAD7 $60.6M 1.10% 50,940,000 PRN
14 THE REALREAL INC REAL 88339PAJ0 $58.2M 1.06% 41,375,000 PRN
15 PURECYCLE TECHNOLOGIES INC PCTTW 74623VAD5 $58.1M 1.06% 57,250,000 PRN
16 ISHARES BITCOIN TRUST ETF Put IBIT 46438F101 $57.9M 1.05% 1,740,600 SH
17 ALPHABET INC GOOG 02079K107 $57.5M 1.05% 162,787 SH
18 SPDR SERIES TRUST Call XME 78464A755 $53.5M 0.97% 500,000 SH
19 APPLIED OPTOELECTRONICS INC AAOI 03823UAF9 $49.9M 0.91% 14,006,000 PRN
20 CITIGROUP INC C 172967424 $47.7M 0.87% 341,021 SH
21 TILRAY BRANDS INC TLRY 88688TAC4 $47.0M 0.86% 46,500,000 PRN
22 MARA HOLDINGS INC MARA 565788AF3 $46.1M 0.84% 45,909,000 PRN
23 RAMACO RES INC METC 75134PAB1 $41.7M 0.76% 56,300,000 PRN
24 BRIDGEBIO PHARMA INC BBIO 10806XAB8 $39.7M 0.72% 22,241,000 PRN
25 CLEANSPARK INC CLSK 18452BAC4 $38.6M 0.70% 29,519,000 PRN
26 ISHARES TR HYG 464288513 $38.3M 0.70% 478,500 SH
27 KEEL INFRASTRUCTURE CORP KEEL 486917107 $37.9M 0.69% 6,611,174 SH
28 STATE STR SPDR S&P 500 ETF T Put SPY 78462F103 $37.9M 0.69% 100,000 SH
29 GAMESTOP CORP Put GME 36467W109 $37.1M 0.68% 1,682,100 SH
30 CIPHER DIGITAL INC CIFR 17253J106 $37.0M 0.67% 1,510,141 SH
31 GORILLA TECHNOLOGY GROUP INC Put GRRR G4000K175 $35.8M 0.65% 1,800,700 SH
32 FIDELITY WISE ORIGIN BITCOIN Put FBTC 315948109 $35.5M 0.65% 696,200 SH
33 EMBRAER S.A. EMBJ 29082A107 $32.2M 0.59% 504,172 SH
34 SUPER MICRO COMPUTER INC SMCI 86800UAF1 $31.8M 0.58% 35,625,000 PRN
35 META PLATFORMS INC META 30303M102 $28.2M 0.51% 50,076 SH
36 MICRON TECHNOLOGY INC MU 595112103 $26.3M 0.48% 22,779 SH
37 SPDR SERIES TRUST XHB 78464A888 $26.2M 0.48% 226,500 SH
38 SUPER MICRO COMPUTER INC SMCIP 86800U500 $25.6M 0.47% 500,000 SH
39 TRAVERE THERAPEUTICS INC TVTX 89422G107 $25.4M 0.46% 446,696 SH
40 SELECT SECTOR SPDR TR XLV 81369Y209 $24.6M 0.45% 155,000 SH
41 BLOCK INC XYZ 852234103 $24.2M 0.44% 318,609 SH
42 INTEL CORP INTC 458140100 $23.9M 0.44% 171,262 SH
43 GREEN PLAINS INC GPRE 393222AK0 $23.8M 0.43% 23,694,000 PRN
44 FIRST SOLAR INC FSLR 336433107 $23.4M 0.43% 99,200 SH
45 BOEING CO BA 097023105 $23.3M 0.42% 107,864 SH
46 PALO ALTO NETWORKS INC PANW 697435105 $22.9M 0.42% 67,110 SH
47 ISHARES INC EWY 464286772 $22.6M 0.41% 112,004 SH
48 INVESCO EXCHANGE TRADED FD T RSP 46137V357 $22.6M 0.41% 106,000 SH
49 UBER TECHNOLOGIES INC UBER 90353TAS9 $22.0M 0.40% 19,000,000 PRN
50 COCA COLA CO KO 191216100 $21.7M 0.40% 267,554 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-14 $5.50B 1,222 0002048251-26-006561
2026-03-31 2026-05-15 $4.14B 1,120 0002048251-26-003779
2025-12-31 2026-02-17 $4.18B 1,189 0001140361-26-005576
2025-09-30 2025-11-14 $6.32B 1,208 0002048251-25-002362