Graham Capital Management, L.P. — 13F Holdings & Portfolio
CIK 1315421 · latest 13F-HR filed 2026-05-15
Graham Capital Management, L.P. manages $4.14B in 13F-reported U.S. long-equity assets across 1,120 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are IWM (7.61%), GDX (5.14%), HYG (4.63%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 377 new positions, exited 458, added to 298, and trimmed 374.
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.
$4.14B
Long-equity book
1,120
Distinct positions
2026-03-31
Filed 2026-05-15
+377 / −458 / ↑298 / ↓374
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- AMAZON COM INC$28.0M +49.1%
- INVESCO EXCHANGE TRADED FD T$23.3M +206.5%
- ALPHABET INC$21.8M +86.1%
- GREEN PLAINS INC$20.8M +33.8%
- ISHARES TR$17.2M +709.4%
Top Trims
- APPLIED DIGITAL CORP-$75.2M -43.8%
- ISHARES BITCOIN TRUST ETF-$41.3M -53.7%
- META PLATFORMS INC-$23.4M -47.1%
- MCDONALDS CORP-$18.9M -89.8%
- UNITED PARCEL SVCS INC-$16.7M -55.8%
New Positions
- ISHARES INC$44.6M
- SELECT SECTOR SPDR TR$32.5M
- ISHARES TR$23.6M
- TRAVERE THERAPEUTICS INC$21.4M
- ISHARES TR$16.5M
Exited Positions
- ISHARES INC$43.5M
- EOS ENERGY ENTERPRISES INC$20.5M
- BLOOM ENERGY CORP$16.9M
- VANECK ETF TRUST$13.7M
- ISHARES TR$12.8M
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 | $315.1M | 7.61% | 1,270,400 | SH |
| 2 | VANECK ETF TRUST Call | GDX | 92189F106 | $212.9M | 5.14% | 2,320,000 | SH |
| 3 | ISHARES TR Put | HYG | 464288513 | $191.8M | 4.63% | 2,410,900 | SH |
| 4 | APPLIED DIGITAL CORP | APLD | 038169AB4 | $96.5M | 2.33% | 36,338,000 | PRN |
| 5 | ISHARES BITCOIN TRUST ETF Put | IBIT | 46438F101 | $89.5M | 2.16% | 2,328,800 | SH |
| 6 | AMAZON COM INC | AMZN | 023135106 | $85.0M | 2.05% | 408,024 | SH |
| 7 | GREEN PLAINS INC | GPRE | 393222AM6 | $82.2M | 1.98% | 58,308,000 | PRN |
| 8 | CALUMET INC Put | CLMT | 131428104 | $61.5M | 1.49% | 1,713,400 | SH |
| 9 | SUNRUN INC | RUN | 86771WAD7 | $60.7M | 1.47% | 50,940,000 | PRN |
| 10 | TILRAY BRANDS INC | TLRY | 88688TAC4 | $59.7M | 1.44% | 59,000,000 | PRN |
| 11 | PURECYCLE TECHNOLOGIES INC | PCTTU | 74623VAB9 | $59.4M | 1.44% | 68,167,000 | PRN |
| 12 | RIVIAN AUTOMOTIVE INC | RIVN | 76954AAD5 | $57.4M | 1.39% | 59,794,000 | PRN |
| 13 | GROUPON INC | GRPN | 399473AK3 | $54.1M | 1.31% | 65,471,000 | PRN |
| 14 | NVIDIA CORPORATION | NVDA | 67066G104 | $51.3M | 1.24% | 293,871 | SH |
| 15 | THE REALREAL INC | REAL | 88339PAJ0 | $49.5M | 1.20% | 41,375,000 | PRN |
| 16 | ALPHABET INC | GOOG | 02079K107 | $47.1M | 1.14% | 164,235 | SH |
| 17 | ISHARES INC | EWY | 464286772 | $44.6M | 1.08% | 362,700 | SH |
| 18 | CITIGROUP INC | C | 172967424 | $44.1M | 1.07% | 389,193 | SH |
| 19 | RAMACO RES INC | METC | 75134PAB1 | $43.2M | 1.04% | 56,300,000 | PRN |
| 20 | FIDELITY WISE ORIGIN BITCOIN Put | FBTC | 315948109 | $41.1M | 0.99% | 696,200 | SH |
| 21 | BRIDGEBIO PHARMA INC | BBIO | 10806XAB8 | $40.1M | 0.97% | 22,241,000 | PRN |
| 22 | GAMESTOP CORP Put | GME | 36467W109 | $38.6M | 0.93% | 1,675,300 | SH |
| 23 | ISHARES TR Call | IWM | 464287655 | $37.2M | 0.90% | 150,000 | SH |
| 24 | ISHARES BITCOIN TRUST ETF | IBIT | 46438F101 | $35.6M | 0.86% | 925,862 | SH |
| 25 | LUCID GROUP INC Put | LCID | 549498202 | $34.6M | 0.83% | 3,625,500 | SH |
| 26 | INVESCO EXCHANGE TRADED FD T | RSP | 46137V357 | $34.5M | 0.83% | 179,869 | SH |
| 27 | NETFLIX INC. | NFLX | 64110L106 | $33.4M | 0.81% | 346,906 | SH |
| 28 | SELECT SECTOR SPDR TR | XLF | 81369Y605 | $32.5M | 0.79% | 659,300 | SH |
| 29 | SALESFORCE INC | CRM | 79466L302 | $31.3M | 0.76% | 167,792 | SH |
| 30 | CLEANSPARK INC | CLSK | 18452BAC4 | $28.7M | 0.69% | 29,519,000 | PRN |
| 31 | CIPHER DIGITAL INC | CIFR | 17253J106 | $28.0M | 0.68% | 2,178,594 | SH |
| 32 | META PLATFORMS INC | META | 30303M102 | $26.3M | 0.63% | 45,936 | SH |
| 33 | EMBRAER S.A. | EMBJ | 29082A107 | $23.8M | 0.58% | 401,632 | SH |
| 34 | BOEING CO | BA | 097023105 | $23.7M | 0.57% | 119,056 | SH |
| 35 | ISHARES TR | IWM | 464287655 | $23.6M | 0.57% | 95,300 | SH |
| 36 | CME GROUP INC | CME | 12572Q105 | $23.0M | 0.56% | 77,801 | SH |
| 37 | MICRON TECHNOLOGY INC | MU | 595112103 | $21.9M | 0.53% | 64,873 | SH |
| 38 | INTEL CORP | INTC | 458140100 | $21.9M | 0.53% | 495,755 | SH |
| 39 | TRAVERE THERAPEUTICS INC | TVTX | 89422GAA5 | $21.4M | 0.52% | 16,872,000 | PRN |
| 40 | PROCTER & GAMBLE CO | PG | 742718109 | $20.5M | 0.50% | 142,191 | SH |
| 41 | ISHARES TR | HYG | 464288513 | $19.6M | 0.47% | 246,900 | SH |
| 42 | FIRST SOLAR INC | FSLR | 336433107 | $19.6M | 0.47% | 99,320 | SH |
| 43 | GREEN PLAINS INC | GPRE | 393222AK0 | $19.3M | 0.47% | 19,175,000 | PRN |
| 44 | ISHARES INC | EWW | 464286822 | $18.7M | 0.45% | 247,908 | SH |
| 45 | ISHARES INC | EWZ | 464286400 | $17.9M | 0.43% | 467,477 | SH |
| 46 | PURECYCLE TECHNOLOGIES INC Put | PCT | 74623V103 | $17.5M | 0.42% | 3,365,700 | SH |
| 47 | NOVAVAX INC Put | NVAX | 670002401 | $17.0M | 0.41% | 2,086,600 | SH |
| 48 | VISA INC | V | 92826C839 | $16.6M | 0.40% | 55,008 | SH |
| 49 | SOLARIS ENERGY INFRAS INC | SEI | 83419XAB4 | $16.6M | 0.40% | 13,233,000 | PRN |
| 50 | ISHARES TR | EEM | 464287234 | $16.5M | 0.40% | 290,087 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 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 |