Filed: 5/15/2026ACC: 0002048251-26-003779
📋 What this filing means
GRAHAM CAPITAL MANAGEMENT, L.P. filed this quarterly 13F‑HR report disclosing 1093 equity positions with a total reported market value of $4.14B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
1093
Positions
$4.14B
Total AUM (reported)
729.71M
Total Shares
Allocation by class
COM$1.46B35.2%
RUSSELL 2000 ETF$375.89M9.1%
GOLD MINERS ETF$223.00M5.4%
IBOXX HI YD ETF$211.45M5.1%
CL A$166.99M4.0%
COM NEW$148.10M3.6%
SHS BEN INT$125.04M3.0%
Portfolio Concentration
Top 3$810.35M19.6%
4–10$572.77M13.8%
11–25$688.91M16.6%
Rest$2.07B50.0%
Top 3 weight
19.6%
Top 10 weight
33.4%
Voting Authority Distribution
Total shares with voting rights: 729.71M
Sole
Full voting authority
729.71M
shares
% of voting shares100.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole1093
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings1093
Rows:
ISHARES TR
SOLEShares1.52M
TypeSH
Market value$375.89M
9.08%
Sole
1.52M
Shared
0.00
None
0.00
VANECK ETF TRUST
SOLEShares2.43M
TypeSH
Market value$223.00M
5.39%
Sole
2.43M
Shared
0.00
None
0.00
ISHARES TR
SOLEShares2.66M
TypeSH
Market value$211.45M
5.11%
Sole
2.66M
Shared
0.00
None
0.00
ISHARES BITCOIN TRUST ETF
SOLEShares3.25M
TypeSH
Market value$125.04M
3.02%
Sole
3.25M
Shared
0.00
None
0.00
APPLIED DIGITAL CORP
SOLEShares36.34M
TypePRN
Market value$96.47M
2.33%
Sole
36.34M
Shared
0.00
None
0.00
AMAZON COM INC
SOLEShares418.82K
TypeSH
Market value$87.23M
2.11%
Sole
418.82K
Shared
0.00
None
0.00
GREEN PLAINS INC
SOLEShares58.31M
TypePRN
Market value$82.16M
1.98%
Sole
58.31M
Shared
0.00
None
0.00
CALUMET INC
SOLEShares1.71M
TypeSH
Market value$61.51M
1.49%
Sole
1.71M
Shared
0.00
None
0.00
SUNRUN INC
SOLEShares50.94M
TypePRN
Market value$60.67M
1.47%
Sole
50.94M
Shared
0.00
None
0.00
TILRAY BRANDS INC
SOLEShares59M
TypePRN
Market value$59.69M
1.44%
Sole
59M
Shared
0.00
None
0.00
PURECYCLE TECHNOLOGIES INC
SOLEShares68.17M
TypePRN
Market value$59.44M
1.44%
Sole
68.17M
Shared
0.00
None
0.00
RIVIAN AUTOMOTIVE INC
SOLEShares59.79M
TypePRN
Market value$57.36M
1.39%
Sole
59.79M
Shared
0.00
None
0.00
GROUPON INC
SOLEShares65.47M
TypePRN
Market value$54.05M
1.31%
Sole
65.47M
Shared
0.00
None
0.00
NVIDIA CORPORATION
SOLEShares303.87K
TypeSH
Market value$53.00M
1.28%
Sole
303.87K
Shared
0.00
None
0.00
THE REALREAL INC
SOLEShares41.38M
TypePRN
Market value$49.48M
1.20%
Sole
41.38M
Shared
0.00
None
0.00
SALESFORCE INC
SOLEShares255.29K
TypeSH
Market value$47.66M
1.15%
Sole
255.29K
Shared
0.00
None
0.00
ALPHABET INC
SOLEShares164.24K
TypeSH
Market value$47.11M
1.14%
Sole
164.24K
Shared
0.00
None
0.00
ISHARES INC
SOLEShares362.70K
TypeSH
Market value$44.62M
1.08%
Sole
362.70K
Shared
0.00
None
0.00
CITIGROUP INC
SOLEShares389.19K
TypeSH
Market value$44.14M
1.07%
Sole
389.19K
Shared
0.00
None
0.00
RAMACO RES INC
SOLEShares56.30M
TypePRN
Market value$43.17M
1.04%
Sole
56.30M
Shared
0.00
None
0.00
FIDELITY WISE ORIGIN BITCOIN
SOLEShares696.20K
TypeSH
Market value$41.10M
0.99%
Sole
696.20K
Shared
0.00
None
0.00
BRIDGEBIO PHARMA INC
SOLEShares22.24M
TypePRN
Market value$40.12M
0.97%
Sole
22.24M
Shared
0.00
None
0.00
GAMESTOP CORP
SOLEShares1.68M
TypeSH
Market value$38.60M
0.93%
Sole
1.68M
Shared
0.00
None
0.00
LUCID GROUP INC
SOLEShares3.63M
TypeSH
Market value$34.55M
0.83%
Sole
3.63M
Shared
0.00
None
0.00
INVESCO EXCHANGE TRADED FD T
SOLEShares179.87K
TypeSH
Market value$34.52M
0.83%
Sole
179.87K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
ISHARES TRSOLE | RUSSELL 2000 ETF | 1.52M | SH | $375.89M 9.08% | 1.52M | 0.00 | 0.00 |
VANECK ETF TRUSTSOLE | GOLD MINERS ETF | 2.43M | SH | $223.00M 5.39% | 2.43M | 0.00 | 0.00 |
ISHARES TRSOLE | IBOXX HI YD ETF | 2.66M | SH | $211.45M 5.11% | 2.66M | 0.00 | 0.00 |
ISHARES BITCOIN TRUST ETFSOLE | SHS BEN INT | 3.25M | SH | $125.04M 3.02% | 3.25M | 0.00 | 0.00 |
APPLIED DIGITAL CORPSOLE | NOTE 2.750% 6/0 | 36.34M | PRN | $96.47M 2.33% | 36.34M | 0.00 | 0.00 |
AMAZON COM INCSOLE | COM | 418.82K | SH | $87.23M 2.11% | 418.82K | 0.00 | 0.00 |
GREEN PLAINS INCSOLE | NOTE 5.250%11/0 | 58.31M | PRN | $82.16M 1.98% | 58.31M | 0.00 | 0.00 |
CALUMET INCSOLE | COM | 1.71M | SH | $61.51M 1.49% | 1.71M | 0.00 | 0.00 |
SUNRUN INCSOLE | NOTE 4.000% 3/0 | 50.94M | PRN | $60.67M 1.47% | 50.94M | 0.00 | 0.00 |
TILRAY BRANDS INCSOLE | NOTE 5.200% 6/1 | 59M | PRN | $59.69M 1.44% | 59M | 0.00 | 0.00 |
PURECYCLE TECHNOLOGIES INCSOLE | NOTE 7.250% 8/1 | 68.17M | PRN | $59.44M 1.44% | 68.17M | 0.00 | 0.00 |
RIVIAN AUTOMOTIVE INCSOLE | NOTE 3.625%10/1 | 59.79M | PRN | $57.36M 1.39% | 59.79M | 0.00 | 0.00 |
GROUPON INCSOLE | NOTE 4.875% 6/3 | 65.47M | PRN | $54.05M 1.31% | 65.47M | 0.00 | 0.00 |
NVIDIA CORPORATIONSOLE | COM | 303.87K | SH | $53.00M 1.28% | 303.87K | 0.00 | 0.00 |
THE REALREAL INCSOLE | DEBT 4.000% 2/1 | 41.38M | PRN | $49.48M 1.20% | 41.38M | 0.00 | 0.00 |
SALESFORCE INCSOLE | COM | 255.29K | SH | $47.66M 1.15% | 255.29K | 0.00 | 0.00 |
ALPHABET INCSOLE | CAP STK CL C | 164.24K | SH | $47.11M 1.14% | 164.24K | 0.00 | 0.00 |
ISHARES INCSOLE | MSCI STH KOR ETF | 362.70K | SH | $44.62M 1.08% | 362.70K | 0.00 | 0.00 |
CITIGROUP INCSOLE | COM NEW | 389.19K | SH | $44.14M 1.07% | 389.19K | 0.00 | 0.00 |
RAMACO RES INCSOLE | NOTE 11/0 | 56.30M | PRN | $43.17M 1.04% | 56.30M | 0.00 | 0.00 |
FIDELITY WISE ORIGIN BITCOINSOLE | SHS | 696.20K | SH | $41.10M 0.99% | 696.20K | 0.00 | 0.00 |
BRIDGEBIO PHARMA INCSOLE | NOTE 2.500% 3/1 | 22.24M | PRN | $40.12M 0.97% | 22.24M | 0.00 | 0.00 |
GAMESTOP CORPSOLE | CL A | 1.68M | SH | $38.60M 0.93% | 1.68M | 0.00 | 0.00 |
LUCID GROUP INCSOLE | COM NEW | 3.63M | SH | $34.55M 0.83% | 3.63M | 0.00 | 0.00 |
INVESCO EXCHANGE TRADED FD TSOLE | S&P500 EQL WGT | 179.87K | SH | $34.52M 0.83% | 179.87K | 0.00 | 0.00 |
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