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Graham Capital Management, L.P.

Period ended Jun 30, 2026 · Latest filing Aug 14, 2026

These quarterly holdings are delayed and may not include all assets or short positions. Values are from the reporting date, not current prices or purchase costs. The same security may appear in multiple rows.

Source: SEC

Reported portfolio value

Quarter-end reported holdings; not current value or investment performance.

View reported values
  • Jun 30, 2026: $5,495,138,580

More quarters will appear as history becomes available.

Top holdings

Top 10 at Jun 30, 2026. Matching entries are combined; security classes and options remain separate. Shares exclude principal amounts; option shares reflect the reported underlying amount.

View top holdings values
  1. ISHARES TR · RUSSELL 2000 ETF · 464287655 · shares · PUT: $942,992,370
  2. VANECK ETF TRUST · GOLD MINERS ETF · 92189F106 · shares · CALL: $189,530,400
  3. GAMESTOP CORP · NOTE 6/1 · 36467WAG4 · principal: $150,110,830
  4. PENGUIN SOLUTIONS INC · NOTE 2.000% 8/1 · 83205YAE4 · principal: $119,862,616
  5. INVESCO QQQ TR · UNIT SER 1 · 46090E103 · shares · CALL: $114,878,400
  6. APPLIED DIGITAL CORP · NOTE 2.750% 6/0 · 038169AB4 · principal: $97,120,817
  7. NVIDIA CORPORATION · COM · 67066G104 · shares: $82,373,051
  8. GREEN PLAINS INC · NOTE 5.250%11/0 · 393222AM6 · principal: $77,985,627
  9. AMAZON COM INC · COM · 023135106 · shares: $75,063,515
  10. GROUPON INC · NOTE 4.875% 6/3 · 399473AK3 · principal: $73,822,618

Reported holdings

1,222 reported entries
IssuerClassCUSIPTypeShares / principalReported value (USD)
ISHARES TRRUSSELL 2000 ETF464287655 PUT 3,138,600 shares $942,992,370
VANECK ETF TRUSTGOLD MINERS ETF92189F106 CALL 2,512,000 shares $189,530,400
GAMESTOP CORPNOTE 6/136467WAG4 — 147,647,000 principal $150,110,830
PENGUIN SOLUTIONS INCNOTE 2.000% 8/183205YAE4 — 42,250,000 principal $119,862,616
INVESCO QQQ TRUNIT SER 146090E103 CALL 156,000 shares $114,878,400
APPLIED DIGITAL CORPNOTE 2.750% 6/0038169AB4 — 24,363,000 principal $97,120,817
NVIDIA CORPORATIONCOM67066G104 — 411,680 shares $82,373,051
GREEN PLAINS INCNOTE 5.250%11/0393222AM6 — 57,430,000 principal $77,985,627
AMAZON COM INCCOM023135106 — 314,943 shares $75,063,515
GROUPON INCNOTE 4.875% 6/3399473AK3 — 74,371,000 principal $73,822,618
RIVIAN AUTOMOTIVE INCNOTE 3.625%10/176954AAD5 — 59,794,000 principal $64,045,503
CALUMET INCCOM131428104 PUT 1,713,400 shares $61,716,668
SUNRUN INCNOTE 4.000% 3/086771WAD7 — 50,940,000 principal $60,583,864
THE REALREAL INCDEBT 4.000% 2/188339PAJ0 — 41,375,000 principal $58,237,898
PURECYCLE TECHNOLOGIES INCNOTE 4.750% 7/074623VAD5 — 57,250,000 principal $58,063,414
ISHARES BITCOIN TRUST ETFSHS BEN INT46438F101 PUT 1,740,600 shares $57,944,574
ALPHABET INCCAP STK CL C02079K107 — 162,787 shares $57,517,531
SPDR SERIES TRUSTST STR SP METAL78464A755 CALL 500,000 shares $53,465,000
APPLIED OPTOELECTRONICS INCNOTE 2.750% 1/103823UAF9 — 14,006,000 principal $49,904,448
CITIGROUP INCCOM NEW172967424 — 341,021 shares $47,729,299
TILRAY BRANDS INCNOTE 5.200% 6/188688TAC4 — 46,500,000 principal $46,985,925
MARA HOLDINGS INCNOTE 3/0565788AF3 — 45,909,000 principal $46,096,116
RAMACO RES INCNOTE 11/075134PAB1 — 56,300,000 principal $41,749,969
BRIDGEBIO PHARMA INCNOTE 2.500% 3/110806XAB8 — 22,241,000 principal $39,650,143
CLEANSPARK INCNOTE 6/118452BAC4 — 29,519,000 principal $38,604,621
ISHARES TRIBOXX HI YD ETF464288513 — 478,500 shares $38,265,645
KEEL INFRASTRUCTURE CORPCOM SHS486917107 — 6,611,174 shares $37,948,139
STATE STR SPDR S&P 500 ETF TTR UNIT78462F103 PUT 100,000 shares $37,930,000
GAMESTOP CORPCL A36467W109 PUT 1,682,100 shares $37,140,768
CIPHER DIGITAL INCCOM17253J106 — 1,510,141 shares $36,998,455
GORILLA TECHNOLOGY GROUP INCSHS NEWG4000K175 PUT 1,800,700 shares $35,797,916
FIDELITY WISE ORIGIN BITCOINSHS315948109 PUT 696,200 shares $35,541,010
EMBRAER S.A.SPONSORED ADS29082A107 — 504,172 shares $32,166,174
SUPER MICRO COMPUTER INCNOTE 6/186800UAF1 — 35,625,000 principal $31,775,911
META PLATFORMS INCCL A30303M102 — 50,076 shares $28,207,310
MICRON TECHNOLOGY INCCOM595112103 — 22,779 shares $26,293,572
SPDR SERIES TRUSTST STR SP HOME78464A888 — 226,500 shares $26,174,340
SUPER MICRO COMPUTER INC7 DEP CM SR A WI86800U500 — 500,000 shares $25,641,855
TRAVERE THERAPEUTICS INCCOM89422G107 — 446,696 shares $25,376,800
SELECT SECTOR SPDR TRST STR CARE ETF81369Y209 — 155,000 shares $24,592,300
BLOCK INCCL A852234103 — 318,609 shares $24,214,284
INTEL CORPCOM458140100 — 171,262 shares $23,913,313
GREEN PLAINS INCNOTE 2.250% 3/1393222AK0 — 23,694,000 principal $23,781,412
FIRST SOLAR INCCOM336433107 — 99,200 shares $23,407,232
BOEING COCOM097023105 — 107,864 shares $23,349,320
PALO ALTO NETWORKS INCCOM697435105 — 67,110 shares $22,885,852
ISHARES INCMSCI STH KOR ETF464286772 — 112,004 shares $22,613,608
INVESCO EXCHANGE TRADED FD TS&P500 EQL WGT46137V357 — 106,000 shares $22,553,620
UBER TECHNOLOGIES INCNOTE 5/190353TAS9 — 19,000,000 principal $22,009,013
COCA COLA COCOM191216100 — 267,554 shares $21,744,114
TESLA INCCOM88160R101 PUT 50,000 shares $21,030,000
EOS ENERGY ENTERPRISES INCCOM CL A29415C101 — 3,566,446 shares $20,970,702
STATE STR SPDR S&P 500 ETF TTR UNIT78462F103 — 27,900 shares $20,834,883
SPDR SERIES TRUSTST STR SP REGBNK78464A698 — 268,000 shares $20,059,800
NOVAVAX INCCOM NEW670002401 PUT 2,086,600 shares $19,655,772
BROADCOM INCCOM11135F101 — 50,016 shares $18,893,544
CME GROUP INCCOM12572Q105 — 84,553 shares $18,671,839
ISHARES TRRUSSELL 2000 ETF464287655 — 62,000 shares $18,627,900
SELECT SECTOR SPDR TRST STR ENERG ETF81369Y506 — 350,000 shares $18,588,500
SPDR GOLD TRGOLD SHS78463V107 CALL 50,000 shares $18,419,000
APPLE INCCOM037833100 PUT 58,500 shares $16,927,560
ISHARES INCMSCI BRAZIL ETF464286400 — 462,000 shares $15,939,000
COSTCO WHOLESALE CORPORATIONCOM22160K105 — 16,688 shares $15,611,123
OKTA INCCL A679295105 — 114,400 shares $15,609,880
SHERWIN WILLIAMS COCOM824348106 — 44,299 shares $15,253,032
ISHARES INCMSCI MEXICO ETF464286822 — 192,048 shares $14,455,453
IDEX CORPCOM45167R104 — 59,798 shares $13,571,156
GREEN PLAINS INCDEBT 5.250%11/0393222AL8 — 9,350,000 principal $12,696,598
SELECT SECTOR SPDR TRST STR INDL ETF81369Y704 — 66,240 shares $12,269,635
CLOUDFLARE INCCL A COM18915M107 — 49,237 shares $12,076,851
LOWES COS INCCOM548661107 — 52,565 shares $11,590,057
CEREBRAS SYSTEMS INCCOM CL A15675D103 — 52,420 shares $11,584,820
SELECT SECTOR SPDR TRST STR MATER ETF81369Y100 — 225,000 shares $11,436,750
MONGODB INCCL A60937P106 — 33,561 shares $11,273,140
HOME DEPOT INCCOM437076102 — 31,921 shares $11,257,898
ISHARES TRIBOXX INV CP ETF464287242 PUT 100,000 shares $10,907,000
NISOURCE INCCOM65473P105 — 223,547 shares $10,629,660
MASTERCARD INCORPORATEDCL A57636Q104 — 20,169 shares $10,358,798
HILTON WORLDWIDE HLDGS INCCOM43300A203 — 30,466 shares $10,067,794
RTX CORPORATIONCOM75513E101 — 52,871 shares $10,031,215
FORTIVE CORPCOM34959J108 — 163,335 shares $9,978,135
ENPHASE ENERGY INCCOM29355A107 — 199,018 shares $9,799,646
OPENDOOR TECHNOLOGIES INCCOM683712103 — 2,120,412 shares $9,796,303
GE AEROSPACECOM NEW369604301 — 25,900 shares $9,679,607
NVENT ELEC PLCSHSG6700G107 — 56,160 shares $9,525,298
FEDEX CORPCOM31428X106 — 30,091 shares $9,422,395
HUNT J B TRANS SVCS INCCOM445658107 — 30,819 shares $8,919,943
BERKSHIRE HATHAWAY INC DELCL B NEW084670702 — 17,628 shares $8,820,875
MICROSOFT CORPCOM594918104 CALL 23,500 shares $8,765,970
HOWMET AEROSPACE INCCOM443201108 — 32,228 shares $8,664,820
DYNATRACE INCCOM NEW268150109 — 197,000 shares $8,650,270
ISHARES BITCOIN TRUST ETFSHS BEN INT46438F101 — 259,000 shares $8,622,110
FASTENAL COCOM311900104 — 175,804 shares $8,443,866
MICROSOFT CORPCOM594918104 — 22,479 shares $8,385,117
SMITH A O CORPCOM831865209 — 133,343 shares $8,363,273
CATERPILLAR INCCOM149123101 — 7,824 shares $8,331,778
T-MOBILE US INCCOM872590104 — 48,950 shares $8,210,384
TWILIO INCCL A90138F102 — 39,388 shares $8,126,926
TEMPUS AI INCCL A88023B103 — 139,000 shares $8,052,270
COGNEX CORPCOM192422103 — 110,803 shares $8,024,353