GMT Capital Corp

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), GMT Capital Corp reported 71 stock positions worth $2.4 billion. Its top holding was Hudbay Minerals (HBM) at 14.1% of the portfolio, followed by Delta Air Lines (DAL, 11.4%) and Cracker Barrel Old Country (CBRL, 7.2%). Compared with Q1 2025, it opened 8 new positions, sold out of 6, added to 10 and reduced 16. The biggest buy was a new position in Hudbay Minerals (HBM) and the biggest sale an exit from Royalty Pharma Class A (RPRX).

Most Recent 13F
Q2 2026
Location
ATLANTA, GA
CIK
0001106191
Portfolio Value
$2.4B (Q2 2025)
SEC Filing
0000950123-25-008156 ↗ filed Aug 14, 2025

Holdings Value

0$1.0B$2.0B$3.0B Q1 2024: $2.5B Q1 2024 Q2 2024: $2.7B Q2 2024 Q3 2024: $2.5B Q3 2024 Q4 2024: $2.1B Q4 2024 Q1 2025: $1.9B Q1 2025 Q2 2025: $2.4B $2.4B Q2 2025 Q3 2025: $2.2B Q3 2025 Q4 2025: $1.9B Q4 2025 Q1 2026: $2.2B Q1 2026 Q2 2026: $1.9B Q2 2026

Holdings 71 stocks · $2.4B
HBM Hudbay Minerals Inc. 14.14% 31,899,020 $337.8M New
DAL Delta Air Lines Inc. 11.35% 5,515,100 $271.2M Add +3.1%
CBRL Cracker Barrel Old Country 7.24% 2,833,700 $173.1M Add +39.7%
KD Kyndryl Holdings Inc. 5.56% 3,164,060 $132.8M Reduce -14.3%
TNL Travel + Leisure Co. 5.28% 2,443,841 $126.1M Reduce -1.2%
ERO Ero Copper Corp. 5.27% 7,467,055 $125.9M Add +7.7%
BBWI Bath & Body Works Inc. 5.10% 4,067,000 $121.8M Add +8.8%
MOS The Mosaic Co. 4.22% 2,764,900 $100.9M Add +58.2%
UAL United Airlines Holdings Inc. 4.00% 1,201,000 $95.6M Add +12.8%
UBER Uber Technologies Inc. 3.76% 962,400 $89.8M Reduce -12.8%
SSNC Ss&c Technologies Holdings 3.65% 1,052,900 $87.2M Reduce -3.2%
JAZZ Jazz Pharmaceuticals PLC 3.41% 768,400 $81.5M Add +14.2%
GOOG Alphabet Inc. Class C 3.30% 443,900 $78.7M Reduce -4.5%
AGI Alamos Gold Inc. Class A 3.28% 2,948,875 $78.3M Reduce -11.1%
BABA Alibaba Group Holding-SP ADR 2.07% 436,200 $49.5M Reduce -36.9%
BIDU Baidu Inc. - Spon ADR 2.03% 566,427 $48.6M Reduce -4.2%
GOOGL Alphabet Inc. Class A 1.83% 247,840 $43.7M Reduce -7.0%
C Citigroup Inc. 1.79% 503,200 $42.8M New
MGM MGM Resorts International 1.78% 1,233,500 $42.4M Reduce -0.3%
ITUB Itau Unibanco H-Spon PRF ADR 1.72% 6,054,530 $41.1M Reduce -14.5%
AKAM Akamai Technologies Inc. 1.10% 329,500 $26.3M Reduce -4.0%
CRESY Cresud S.A.-Spons ADR 0.71% 1,569,608 $16.9M Add +52.9%
RBLX Roblox Corp. Class A 0.66% 150,400 $15.8M No change
BDX Becton Dickinson and Co. 0.65% 90,500 $15.6M New
WCC Wesco International Inc. 0.51% 65,800 $12.2M Reduce -25.0%
CFLT Confluent Inc. Class A 0.44% 425,100 $10.6M No change
ITRG Integra Resources Corp. 0.41% 6,515,503 $9.8M Reduce -53.1%
RIOT Riot Platforms Inc. 0.37% 783,900 $8.9M No change
SIG Signet Jewelers Ltd. 0.34% 101,800 $8.1M Reduce -21.8%
QS Quantumscape Corp. 0.33% 1,163,500 $7.8M Add +141.3%
TSM Taiwan Semiconductor-SP ADR 0.26% 27,900 $6.3M No change
AMC AMC Entertainment HLDS Class A 0.24% 1,816,151 $5.6M No change
KODK Eastman Kodak Co. 0.23% 981,400 $5.5M No change
BYND Beyond Meat Inc. 0.21% 1,445,747 $5.0M New
CMPS Compass Pathways PLC 0.21% 1,781,718 $5.0M No change
SMCI Super Micro Computer Inc. 0.19% 92,700 $4.5M No change
FSLY Fastly Inc. Class A 0.18% 598,800 $4.2M No change
ESTA Establishment Labs Holdings 0.18% 98,766 $4.2M New
OCGN Ocugen Inc. 0.17% 4,153,798 $4.0M No change
UA Under Armour Inc. Class C 0.17% 617,898 $4.0M No change
AMSC American Superconductor Corp. 0.17% 108,066 $4.0M No change
EA Electronic Arts Inc. 0.16% 23,320 $3.7M No change
CLOV Clover Health Investments Co. 0.15% 1,305,200 $3.6M No change
SNOW Snowflake Inc. 0.15% 15,700 $3.5M No change
UAA Under Armour Inc. Class A 0.12% 435,780 $3.0M No change
OM Outset Medical Inc. 0.08% 98,108 $1.9M No change
U Unity Software Inc. 0.07% 73,100 $1.8M No change
OSISKO DEVELOPMENT CORP 0.07% 814,246 $1.7M No change
CLNE Clean Energy Fuels Corp. 0.06% 767,758 $1.5M No change
GTE Gran Tierra Energy Inc. 0.06% 300,000 $1.4M Reduce -65.3%
CHPT Chargepoint Holdings Inc. 0.06% 2,025,800 $1.4M No change
RUN Sunrun Inc. 0.06% 167,900 $1.4M New
MARA Mara Holdings Inc. 0.06% 83,800 $1.3M New
MVIS Microvision Inc. 0.05% 1,043,100 $1.2M No change
LBRT Liberty Energy Inc. 0.04% 89,274 $1.0M No change
OBE Obsidian Energy Ltd. 0.04% 180,008 $999K No change
PGEN Precigen Inc. 0.04% 668,830 $950K No change
FLNA Filana Therapeutics Inc. filed as CASSAVA SCIENCES INC 0.03% 450,100 $815K No change
CIEN Ciena Corp. 0.03% 9,410 $765K No change
GOTU Gaotu Techedu Inc. 0.03% 177,900 $642K No change
NNOX Nano-X Imaging Ltd. 0.02% 94,850 $490K New
WOLF Wolfspeed Inc. 0.02% 1,211,332 $483K Add +42.9%
MRVL Marvell Technology Inc. 0.02% 5,600 $433K No change
KTOS Kratos Defense & Security 0.02% 7,948 $369K No change
SENS Senseonics Holdings Inc. 0.01% 729,377 $347K No change
SPCE Virgin Galactic Holdings Inc. 0.01% 119,193 $325K No change
TD Toronto-Dominion Bank 0.01% 3,960 $291K No change
STXS Stereotaxis Inc. 0.01% 126,581 $268K No change
INO Inovio Pharmaceuticals Inc. 0.01% 126,119 $257K No change
CAN Canaan Inc. 0.00% 98,400 $61K No change
AWRE Aware Inc. 0.00% 24,600 $46K No change

Portfolio Sells Q1 2025 → Q2 2025
RPRX Royalty Pharma PLC Class A Sold out 0.00% −3.93
BABA Alibaba Group Holding-SP ADR Reduce -36.9% 2.07% −2.78
VRN Veren Inc. Sold out 0.00% −2.51
AGI Alamos Gold Inc. Class A Reduce -11.1% 3.28% −1.43
LNTH Lantheus Holdings Inc. Sold out 0.00% −1.23
SSNC Ss&c Technologies Holdings Reduce -3.2% 3.65% −1.17
BIDU Baidu Inc. - Spon ADR Reduce -4.2% 2.03% −0.86
TNL Travel + Leisure Co. Reduce -1.2% 5.28% −0.80
KD Kyndryl Holdings Inc. Reduce -14.3% 5.56% −0.60
GPN Global Payments Inc. Sold out 0.00% −0.56
GOOG Alphabet Inc. Class C Reduce -4.5% 3.30% −0.56
UBER Uber Technologies Inc. Reduce -12.8% 3.76% −0.51
ITRG Integra Resources Corp. Reduce -53.1% 0.41% −0.51
TRIP Tripadvisor Inc. Sold out 0.00% −0.43
AKAM Akamai Technologies Inc. Reduce -4.0% 1.10% −0.37
GOOGL Alphabet Inc. Class A Reduce -7.0% 1.83% −0.36
ITUB Itau Unibanco H-Spon PRF ADR Reduce -14.5% 1.72% −0.35
NTR Nutrien Ltd. Sold out 0.00% −0.34
WCC Wesco International Inc. Reduce -25.0% 0.51% −0.21
MGM MGM Resorts International Reduce -0.3% 1.78% −0.17
GTE Gran Tierra Energy Inc. Reduce -65.3% 0.06% −0.16
SIG Signet Jewelers Ltd. Reduce -21.8% 0.34% −0.06

Portfolio Buys Q1 2025 → Q2 2025
HBM Hudbay Minerals Inc. New 14.14% +14.14
CBRL Cracker Barrel Old Country Add +39.7% 7.24% +3.06
C Citigroup Inc. New 1.79% +1.79
MOS The Mosaic Co. Add +58.2% 4.22% +1.72
ERO Ero Copper Corp. Add +7.7% 5.27% +0.81
BDX Becton Dickinson and Co. New 0.65% +0.65
QS Quantumscape Corp. Add +141.3% 0.33% +0.22
BYND Beyond Meat Inc. New 0.21% +0.21
ESTA Establishment Labs Holdings New 0.18% +0.18
CRESY Cresud S.A.-Spons ADR Add +52.9% 0.71% +0.10
UAL United Airlines Holdings Inc. Add +12.8% 4.00% +0.10
RUN Sunrun Inc. New 0.06% +0.06
MARA Mara Holdings Inc. New 0.06% +0.06
NNOX Nano-X Imaging Ltd. New 0.02% +0.02
WOLF Wolfspeed Inc. Add +42.9% 0.02% −0.12
BBWI Bath & Body Works Inc. Add +8.8% 5.10% −0.92
JAZZ Jazz Pharmaceuticals PLC Add +14.2% 3.41% −1.02
DAL Delta Air Lines Inc. Add +3.1% 11.35% −1.03

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 68$1.9BHBM, DAL, JAZZ, UAL, GOOG
Q1 2026 77$2.2BHBM, DAL, JAZZ, ERO, UAL
Q4 2025 38$1.9BHBM, DAL, ERO, JAZZ, UAL
Q3 2025 68$2.2BHBM, DAL, ERO, CBRL, UAL
Q2 2025 71$2.4BHBM, DAL, CBRL, KD, TNL
Q1 2025 69$1.9BDAL, KD, TNL, BBWI, BABA
Q4 2024 56$2.1BDAL, HBM, BBWI, TNL, KD
Q3 2024 72$2.5BHBM, DAL, TNL, ERO, CE
Q2 2024 68$2.7BHBM, DAL, ERO, TNL, BBWI
Q1 2024 53$2.5BDAL, HBM, TNL, CE, BBWI