Filed: 8/14/2026ACC: 0002048251-26-006561
📋 What this filing means
GRAHAM CAPITAL MANAGEMENT, L.P. filed this quarterly 13F‑HR report disclosing 1182 equity positions with a total reported market value of $5.50B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
1182
Positions
$5.50B
Total AUM (reported)
949.84M
Total Shares
Allocation by class
COM$1.69B30.7%
RUSSELL 2000 ETF$961.62M17.5%
NOTE 6/1$220.49M4.0%
CL A$220.34M4.0%
GOLD MINERS ETF$192.17M3.5%
COM NEW$129.67M2.4%
NOTE 2.000% 8/1$119.86M2.2%
Portfolio Concentration
Top 3$1.30B23.7%
4–10$643.82M11.7%
11–25$812.84M14.8%
Rest$2.73B49.8%
Top 3 weight
23.7%
Top 10 weight
35.4%
Voting Authority Distribution
Total shares with voting rights: 949.79M
Sole
Full voting authority
949.79M
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)
Sole1182
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings1182
Rows:
ISHARES TR
SOLEShares3.20M
TypeSH
Market value$961.62M
17.50%
Sole
3.20M
Shared
0.00
None
0.00
VANECK ETF TRUST
SOLEShares2.55M
TypeSH
Market value$192.17M
3.50%
Sole
2.55M
Shared
0.00
None
0.00
GAMESTOP CORP
SOLEShares147.65M
TypePRN
Market value$150.11M
2.73%
Sole
147.65M
Shared
0.00
None
0.00
PENGUIN SOLUTIONS INC
SOLEShares42.25M
TypePRN
Market value$119.86M
2.18%
Sole
42.25M
Shared
0.00
None
0.00
INVESCO QQQ TR
SOLEShares156K
TypeSH
Market value$114.88M
2.09%
Sole
156K
Shared
0.00
None
0.00
APPLIED DIGITAL CORP
SOLEShares24.36M
TypePRN
Market value$97.12M
1.77%
Sole
24.36M
Shared
0.00
None
0.00
NVIDIA CORPORATION
SOLEShares421.68K
TypeSH
Market value$84.37M
1.54%
Sole
421.68K
Shared
0.00
None
0.00
GREEN PLAINS INC
SOLEShares57.43M
TypePRN
Market value$77.99M
1.42%
Sole
57.43M
Shared
0.00
None
0.00
AMAZON COM INC
SOLEShares317.94K
TypeSH
Market value$75.78M
1.38%
Sole
317.94K
Shared
0.00
None
0.00
GROUPON INC
SOLEShares74.37M
TypePRN
Market value$73.82M
1.34%
Sole
74.37M
Shared
0.00
None
0.00
ISHARES BITCOIN TRUST ETF
SOLEShares2M
TypeSH
Market value$66.57M
1.21%
Sole
2M
Shared
0.00
None
0.00
RIVIAN AUTOMOTIVE INC
SOLEShares59.79M
TypePRN
Market value$64.05M
1.17%
Sole
59.79M
Shared
0.00
None
0.00
CALUMET INC
SOLEShares1.71M
TypeSH
Market value$61.72M
1.12%
Sole
1.71M
Shared
0.00
None
0.00
SUNRUN INC
SOLEShares50.94M
TypePRN
Market value$60.58M
1.10%
Sole
50.94M
Shared
0.00
None
0.00
ALPHABET INC
SOLEShares167.79K
TypeSH
Market value$59.28M
1.08%
Sole
167.79K
Shared
0.00
None
0.00
STATE STR SPDR S&P 500 ETF T
SOLEShares127.90K
TypeSH
Market value$58.76M
1.07%
Sole
77.90K
Shared
0.00
None
0.00
THE REALREAL INC
SOLEShares41.38M
TypePRN
Market value$58.24M
1.06%
Sole
41.38M
Shared
0.00
None
0.00
PURECYCLE TECHNOLOGIES INC
SOLEShares57.25M
TypePRN
Market value$58.06M
1.06%
Sole
57.25M
Shared
0.00
None
0.00
SPDR SERIES TRUST
SOLEShares500K
TypeSH
Market value$53.47M
0.97%
Sole
500K
Shared
0.00
None
0.00
APPLIED OPTOELECTRONICS INC
SOLEShares14.01M
TypePRN
Market value$49.90M
0.91%
Sole
14.01M
Shared
0.00
None
0.00
CITIGROUP INC
SOLEShares341.02K
TypeSH
Market value$47.73M
0.87%
Sole
341.02K
Shared
0.00
None
0.00
TILRAY BRANDS INC
SOLEShares46.50M
TypePRN
Market value$46.99M
0.86%
Sole
46.50M
Shared
0.00
None
0.00
MARA HOLDINGS INC
SOLEShares45.91M
TypePRN
Market value$46.10M
0.84%
Sole
45.91M
Shared
0.00
None
0.00
RAMACO RES INC
SOLEShares56.30M
TypePRN
Market value$41.75M
0.76%
Sole
56.30M
Shared
0.00
None
0.00
BRIDGEBIO PHARMA INC
SOLEShares22.24M
TypePRN
Market value$39.65M
0.72%
Sole
22.24M
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
ISHARES TRSOLE | RUSSELL 2000 ETF | 3.20M | SH | $961.62M 17.50% | 3.20M | 0.00 | 0.00 |
VANECK ETF TRUSTSOLE | GOLD MINERS ETF | 2.55M | SH | $192.17M 3.50% | 2.55M | 0.00 | 0.00 |
GAMESTOP CORPSOLE | NOTE 6/1 | 147.65M | PRN | $150.11M 2.73% | 147.65M | 0.00 | 0.00 |
PENGUIN SOLUTIONS INCSOLE | NOTE 2.000% 8/1 | 42.25M | PRN | $119.86M 2.18% | 42.25M | 0.00 | 0.00 |
INVESCO QQQ TRSOLE | UNIT SER 1 | 156K | SH | $114.88M 2.09% | 156K | 0.00 | 0.00 |
APPLIED DIGITAL CORPSOLE | NOTE 2.750% 6/0 | 24.36M | PRN | $97.12M 1.77% | 24.36M | 0.00 | 0.00 |
NVIDIA CORPORATIONSOLE | COM | 421.68K | SH | $84.37M 1.54% | 421.68K | 0.00 | 0.00 |
GREEN PLAINS INCSOLE | NOTE 5.250%11/0 | 57.43M | PRN | $77.99M 1.42% | 57.43M | 0.00 | 0.00 |
AMAZON COM INCSOLE | COM | 317.94K | SH | $75.78M 1.38% | 317.94K | 0.00 | 0.00 |
GROUPON INCSOLE | NOTE 4.875% 6/3 | 74.37M | PRN | $73.82M 1.34% | 74.37M | 0.00 | 0.00 |
ISHARES BITCOIN TRUST ETFSOLE | SHS BEN INT | 2M | SH | $66.57M 1.21% | 2M | 0.00 | 0.00 |
RIVIAN AUTOMOTIVE INCSOLE | NOTE 3.625%10/1 | 59.79M | PRN | $64.05M 1.17% | 59.79M | 0.00 | 0.00 |
CALUMET INCSOLE | COM | 1.71M | SH | $61.72M 1.12% | 1.71M | 0.00 | 0.00 |
SUNRUN INCSOLE | NOTE 4.000% 3/0 | 50.94M | PRN | $60.58M 1.10% | 50.94M | 0.00 | 0.00 |
ALPHABET INCSOLE | CAP STK CL C | 167.79K | SH | $59.28M 1.08% | 167.79K | 0.00 | 0.00 |
STATE STR SPDR S&P 500 ETF TSOLE | TR UNIT | 127.90K | SH | $58.76M 1.07% | 77.90K | 0.00 | 0.00 |
THE REALREAL INCSOLE | DEBT 4.000% 2/1 | 41.38M | PRN | $58.24M 1.06% | 41.38M | 0.00 | 0.00 |
PURECYCLE TECHNOLOGIES INCSOLE | NOTE 4.750% 7/0 | 57.25M | PRN | $58.06M 1.06% | 57.25M | 0.00 | 0.00 |
SPDR SERIES TRUSTSOLE | ST STR SP METAL | 500K | SH | $53.47M 0.97% | 500K | 0.00 | 0.00 |
APPLIED OPTOELECTRONICS INCSOLE | NOTE 2.750% 1/1 | 14.01M | PRN | $49.90M 0.91% | 14.01M | 0.00 | 0.00 |
CITIGROUP INCSOLE | COM NEW | 341.02K | SH | $47.73M 0.87% | 341.02K | 0.00 | 0.00 |
TILRAY BRANDS INCSOLE | NOTE 5.200% 6/1 | 46.50M | PRN | $46.99M 0.86% | 46.50M | 0.00 | 0.00 |
MARA HOLDINGS INCSOLE | NOTE 3/0 | 45.91M | PRN | $46.10M 0.84% | 45.91M | 0.00 | 0.00 |
RAMACO RES INCSOLE | NOTE 11/0 | 56.30M | PRN | $41.75M 0.76% | 56.30M | 0.00 | 0.00 |
BRIDGEBIO PHARMA INCSOLE | NOTE 2.500% 3/1 | 22.24M | PRN | $39.65M 0.72% | 22.24M | 0.00 | 0.00 |
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