GRAHAM CAPITAL MANAGEMENT, L.P.

Filed: 11/14/2024ACC: 0001041062-24-000202

📋 What this filing means

GRAHAM CAPITAL MANAGEMENT, L.P. filed this quarterly 13F‑HR report disclosing 1051 equity positions with a total reported market value of $5.81B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

1051

Positions

$5.81B

Total AUM (reported)

1.09B

Total Shares

Allocation by class

COM$1.21B20.9%

CL A NEW$1.18B20.3%

RUSSELL 2000 ETF$846.05M14.6%

NOTE 3.250% 4/0$159.95M2.8%

NOTE 2/1$152.88M2.6%

CL A$147.33M2.5%

SHS BEN INT$140.27M2.4%

Portfolio Concentration

Top 3$2.18B37.5%

4–10$813.97M14.0%

11–25$792.41M13.6%

Rest$2.02B34.8%

Top 3 weight

37.5%

Top 10 weight

51.6%

Voting Authority Distribution

Total shares with voting rights: 1.09B

Sole

Full voting authority

1.09B

% of voting shares100.0%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

0.00

% of voting shares0.0%

Investment Discretion (by position count)

Sole1051

Shared0

Other0

Dominant voting typeSole · 100.0% of voting shares

Institutional Holdings1051

Rows:

MICROSTRATEGY INC

SOLE

CL A NEW

Shares6.97M

TypeSH

Market value$1.17B

20.22%

Sole

6.97M

Shared

0.00

None

0.00

ISHARES TR

SOLE

RUSSELL 2000 ETF

Shares3.83M

TypeSH

Market value$846.05M

14.57%

Sole

3.83M

Shared

0.00

None

0.00

PERMIAN RESOURCES CORP

SOLE

NOTE 3.250% 4/0

Shares67.18M

TypePRN

Market value$159.95M

2.75%

Sole

67.18M

Shared

0.00

None

0.00

MICROSTRATEGY INC

SOLE

NOTE 2/1

Shares112M

TypePRN

Market value$152.88M

2.63%

Sole

112M

Shared

0.00

None

0.00

ISHARES BITCOIN TRUST ETF

SOLE

SHS BEN INT

Shares3.83M

TypeSH

Market value$138.28M

2.38%

Sole

3.83M

Shared

0.00

None

0.00

SPDR S&P 500 ETF TR

SOLE

TR UNIT

Shares200K

TypeSH

Market value$114.75M

1.98%

Sole

200K

Shared

0.00

None

0.00

ISHARES TR

SOLE

IBOXX INV CP ETF

Shares979.70K

TypeSH

Market value$110.69M

1.91%

Sole

979.70K

Shared

0.00

None

0.00

ISHARES TR

SOLE

IBOXX HI YD ETF

Shares1.27M

TypeSH

Market value$102.36M

1.76%

Sole

1.27M

Shared

0.00

None

0.00

PEABODY ENGR CORP

SOLE

NOTE 3.250% 3/0

Shares65.51M

TypePRN

Market value$98.37M

1.69%

Sole

65.51M

Shared

0.00

None

0.00

VANECK ETF TRUST

SOLE

JUNIOR GOLD MINE

Shares1.98M

TypeSH

Market value$96.64M

1.66%

Sole

1.98M

Shared

0.00

None

0.00

TILRAY BRANDS INC

SOLE

NOTE 5.200% 6/1

Shares90.50M

TypePRN

Market value$93.03M

1.60%

Sole

90.50M

Shared

0.00

None

0.00

NOVAVAX INC

SOLE

NOTE 5.000%12/1

Shares65.78M

TypePRN

Market value$82.78M

1.43%

Sole

65.78M

Shared

0.00

None

0.00

BLOOM ENERGY CORP

SOLE

NOTE 2.500% 8/1

Shares65.87M

TypePRN

Market value$68.02M

1.17%

Sole

65.87M

Shared

0.00

None

0.00

PENN ENTERTAINMENT INC

SOLE

NOTE 2.750% 5/1

Shares57.18M

TypePRN

Market value$61.87M

1.07%

Sole

57.18M

Shared

0.00

None

0.00

COINBASE GLOBAL INC

SOLE

NOTE 0.500% 6/0

Shares60M

TypePRN

Market value$58.90M

1.01%

Sole

60M

Shared

0.00

None

0.00

BRIDGEBIO PHARMA INC

SOLE

NOTE 2.500% 3/1

Shares55.74M

TypePRN

Market value$57.56M

0.99%

Sole

55.74M

Shared

0.00

None

0.00

ISHARES TR

SOLE

MSCI EMG MKT ETF

Shares1.05M

TypeSH

Market value$48.38M

0.83%

Sole

1.05M

Shared

0.00

None

0.00

TRANSOCEAN INC

SOLE

DEB 4.000%12/1

Shares41.58M

TypePRN

Market value$46.28M

0.80%

Sole

41.58M

Shared

0.00

None

0.00

SELECT SECTOR SPDR TR

SOLE

SBI HEALTHCARE

Shares300K

TypeSH

Market value$46.21M

0.80%

Sole

300K

Shared

0.00

None

0.00

VANECK ETF TRUST

SOLE

GOLD MINERS ETF

Shares1.13M

TypeSH

Market value$45.00M

0.77%

Sole

1.13M

Shared

0.00

None

0.00

GREEN PLAINS INC

SOLE

NOTE 2.250% 3/1

Shares50.26M

TypePRN

Market value$43.55M

0.75%

Sole

50.26M

Shared

0.00

None

0.00

SPIRIT AIRLS INC

SOLE

COM

Shares17.96M

TypeSH

Market value$43.11M

0.74%

Sole

17.96M

Shared

0.00

None

0.00

MARA HOLDINGS INC

SOLE

COM

Shares2.20M

TypeSH

Market value$35.62M

0.61%

Sole

2.20M

Shared

0.00

None

0.00

REVANCE THERAPEUTICS INC

SOLE

NOTE 1.750% 2/1

Shares36.43M

TypePRN

Market value$31.59M

0.54%

Sole

36.43M

Shared

0.00

None

0.00

NVIDIA CORPORATION

SOLE

COM

Shares251.43K

TypeSH

Market value$30.53M

0.53%

Sole

251.43K

Shared

0.00

None

0.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole
MICROSTRATEGY INCSOLE	CL A NEW	6.97M	SH	$1.17B 20.22%	6.97M
ISHARES TRSOLE	RUSSELL 2000 ETF	3.83M	SH	$846.05M 14.57%	3.83M
PERMIAN RESOURCES CORPSOLE	NOTE 3.250% 4/0	67.18M	PRN	$159.95M 2.75%	67.18M
MICROSTRATEGY INCSOLE	NOTE 2/1	112M	PRN	$152.88M 2.63%	112M
ISHARES BITCOIN TRUST ETFSOLE	SHS BEN INT	3.83M	SH	$138.28M 2.38%	3.83M
SPDR S&P 500 ETF TRSOLE	TR UNIT	200K	SH	$114.75M 1.98%	200K
ISHARES TRSOLE	IBOXX INV CP ETF	979.70K	SH	$110.69M 1.91%	979.70K
ISHARES TRSOLE	IBOXX HI YD ETF	1.27M	SH	$102.36M 1.76%	1.27M
PEABODY ENGR CORPSOLE	NOTE 3.250% 3/0	65.51M	PRN	$98.37M 1.69%	65.51M
VANECK ETF TRUSTSOLE	JUNIOR GOLD MINE	1.98M	SH	$96.64M 1.66%	1.98M
TILRAY BRANDS INCSOLE	NOTE 5.200% 6/1	90.50M	PRN	$93.03M 1.60%	90.50M
NOVAVAX INCSOLE	NOTE 5.000%12/1	65.78M	PRN	$82.78M 1.43%	65.78M
BLOOM ENERGY CORPSOLE	NOTE 2.500% 8/1	65.87M	PRN	$68.02M 1.17%	65.87M
PENN ENTERTAINMENT INCSOLE	NOTE 2.750% 5/1	57.18M	PRN	$61.87M 1.07%	57.18M
COINBASE GLOBAL INCSOLE	NOTE 0.500% 6/0	60M	PRN	$58.90M 1.01%	60M
BRIDGEBIO PHARMA INCSOLE	NOTE 2.500% 3/1	55.74M	PRN	$57.56M 0.99%	55.74M
ISHARES TRSOLE	MSCI EMG MKT ETF	1.05M	SH	$48.38M 0.83%	1.05M
TRANSOCEAN INCSOLE	DEB 4.000%12/1	41.58M	PRN	$46.28M 0.80%	41.58M
SELECT SECTOR SPDR TRSOLE	SBI HEALTHCARE	300K	SH	$46.21M 0.80%	300K
VANECK ETF TRUSTSOLE	GOLD MINERS ETF	1.13M	SH	$45.00M 0.77%	1.13M
GREEN PLAINS INCSOLE	NOTE 2.250% 3/1	50.26M	PRN	$43.55M 0.75%	50.26M
SPIRIT AIRLS INCSOLE	COM	17.96M	SH	$43.11M 0.74%	17.96M
MARA HOLDINGS INCSOLE	COM	2.20M	SH	$35.62M 0.61%	2.20M
REVANCE THERAPEUTICS INCSOLE	NOTE 1.750% 2/1	36.43M	PRN	$31.59M 0.54%	36.43M
NVIDIA CORPORATIONSOLE	COM	251.43K	SH	$30.53M 0.53%	251.43K

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