Graham Capital Management, L.P.
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Graham Capital Management, L.P. reported 1,008 stock positions worth $1.9 billion. Its top holding was iShares Bitcoin Trust ETF (IBIT) at 7.4% of the portfolio, followed by Meta Platforms Class A (META, 1.4%) and Microsoft (MSFT, 1.4%). Compared with Q2 2024, it opened 385 new positions, sold out of 329, added to 286 and reduced 334. The biggest buy was iShares Bitcoin Trust ETF (IBIT, shares +39%) and the biggest sale an exit from Strategy (MSTR).
- Most Recent 13F
- Q2 2026
- Location
- ROWAYTON, CT
- CIK
- 0001315421
- Portfolio Value
- $1.9B (Q3 2024)
- SEC Filing
- 0001041062-24-000202 ↗ filed Nov 14, 2024
Holdings Value
Holdings 1,008 stocks · $1.9B
| IBIT iShares Bitcoin Trust ETF | 7.42% | 3,827,189 | $138.3M | Add +38.8% |
| META Meta Platforms Inc. Class A | 1.45% | 47,210 | $27.0M | Add +41.6% |
| MSFT Microsoft Corp. | 1.36% | 58,763 | $25.3M | Add +157.7% |
| NVDA Nvidia Corp. | 1.31% | 201,230 | $24.4M | Add +538.2% |
| WMT Walmart Inc. | 1.22% | 280,947 | $22.7M | Add +140.8% |
| GDX Vaneck Gold Miners ETF | 1.18% | 554,036 | $22.1M | New |
| GOOGL Alphabet Inc. Class A | 1.11% | 125,016 | $20.7M | Add +164.5% |
| C Citigroup Inc. | 1.02% | 303,491 | $19.0M | Add +31.2% |
| NFLX Netflix Inc. | 1.01% | 26,503 | $18.8M | Add +2268.4% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.94% | 441,415 | $17.5M | New |
| CME Cme Group Inc. | 0.90% | 76,088 | $16.8M | Reduce -1.2% |
| HPE Hewlett Packard Enterprise | 0.88% | 800,837 | $16.4M | Add +50.0% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.86% | 198,725 | $16.1M | Add +2384.1% |
| HES Hess Corp. | 0.86% | 117,738 | $16.0M | Add +3.5% |
| MMM 3M Co. | 0.81% | 110,392 | $15.1M | Add +33.3% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 0.77% | 127,700 | $14.4M | Add +1959.7% |
| CARR Carrier Global Corp. | 0.76% | 175,735 | $14.1M | Add +0.7% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.75% | 174,700 | $14.0M | Add +1647.0% |
| IXUS iShares Core Intl Stock ETF | 0.74% | 190,562 | $13.8M | New |
| BSX Boston Scientific Corp. | 0.74% | 164,286 | $13.8M | Reduce -8.3% |
| TT Trane Technologies PLC | 0.74% | 35,389 | $13.8M | Add +264.6% |
| MET Metlife Inc. | 0.72% | 163,527 | $13.5M | New |
| CL Colgate-Palmolive Co. | 0.70% | 125,545 | $13.0M | Reduce -11.3% |
| XLI SS Industrial Select Sector | 0.70% | 96,000 | $13.0M | New |
| MU Micron Technology Inc. | 0.69% | 124,815 | $12.9M | Add +94.6% |
| NOC Northrop Grumman Corp. | 0.67% | 23,804 | $12.6M | Add +150.8% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.54% | 36,109 | $10.1M | Add +375.7% |
| GOOG Alphabet Inc. Class C | 0.53% | 59,567 | $10.0M | Reduce -18.6% |
| GE General Electric filed as GE AEROSPACE | 0.48% | 47,048 | $8.9M | Add +646.8% |
| ROST Ross Stores Inc. | 0.47% | 58,116 | $8.7M | Add +22.6% |
| DUK Duke Energy Corp. | 0.47% | 75,431 | $8.7M | New |
| RSP Invesco S&P 500 Equal Weight | 0.47% | 48,500 | $8.7M | New |
| ETN Eaton Corp. PLC | 0.46% | 26,097 | $8.6M | Add +15.1% |
| LRCX Lam Research Corp. | 0.46% | 10,582 | $8.6M | Add +4.5% |
| FTI Technipfmc PLC | 0.46% | 328,981 | $8.6M | Add +63.7% |
| ZM Zoom Communications Inc. filed as ZOOM VIDEO COMMUNICATIONS IN | 0.46% | 123,204 | $8.6M | New |
| FOUR SHIFT4 Payments Inc. Class A | 0.45% | 94,515 | $8.4M | Reduce -16.7% |
| WAB Wabtec Corp. | 0.45% | 45,679 | $8.3M | Add +48.0% |
| RGA Reinsurance Group of America | 0.44% | 37,532 | $8.2M | Add +16.0% |
| SYF Synchrony Financial | 0.42% | 155,812 | $7.8M | Add +844.4% |
| TXRH Texas Roadhouse Inc. | 0.41% | 43,252 | $7.6M | Add +67.1% |
| UHS Universal Health Services-B | 0.40% | 32,784 | $7.5M | Add +77.0% |
| UBER Uber Technologies Inc. | 0.40% | 98,449 | $7.4M | Add +657.2% |
| EQH Equitable Holdings Inc. | 0.38% | 169,210 | $7.1M | Reduce -6.2% |
| SO The Southern Co. | 0.38% | 78,311 | $7.1M | New |
| TWLO Twilio Inc. Class A | 0.38% | 107,786 | $7.0M | New |
| DG Dollar General Corp. | 0.38% | 82,683 | $7.0M | Reduce -17.3% |
| ANET Arista Networks Inc. | 0.37% | 18,088 | $6.9M | Add +189.8% |
| NWSA News Corp. Class A | 0.37% | 260,416 | $6.9M | Add +522.3% |
| COHR Coherent Corp. | 0.37% | 77,740 | $6.9M | New |
| BMY Bristol-Myers Squibb Co. | 0.36% | 130,485 | $6.8M | Add +75.6% |
| MSI Motorola Solutions Inc. | 0.36% | 14,997 | $6.7M | Reduce -47.0% |
| AXTA Axalta Coating Systems Ltd. | 0.36% | 184,067 | $6.7M | New |
| DUOL Duolingo | 0.35% | 23,327 | $6.6M | Add +676.8% |
| XYZ Block Inc. | 0.35% | 97,726 | $6.6M | Reduce -13.3% |
| PH Parker Hannifin Corp. | 0.35% | 10,279 | $6.5M | Reduce -54.4% |
| KDP Keurig Dr Pepper Inc. | 0.34% | 170,376 | $6.4M | Add +415.6% |
| AXP American Express Co. | 0.34% | 23,322 | $6.3M | New |
| MFC Manulife Financial Corp. | 0.33% | 210,236 | $6.2M | Add +942.8% |
| CIEN Ciena Corp. | 0.33% | 100,515 | $6.2M | New |
| FLG Flagstar Bank NA filed as NEW YORK CMNTY BANCORP INC | 0.33% | 549,561 | $6.2M | Add +6.1% |
| VZ Verizon Communications Inc. | 0.33% | 136,511 | $6.1M | New |
| IGF iShares Global Infrastructur | 0.32% | 110,415 | $6.0M | New |
| ETHA iShares Ethereum Trust ETF | 0.32% | 300,000 | $5.9M | New |
| PFE Pfizer Inc. | 0.32% | 203,363 | $5.9M | Reduce -0.1% |
| EWW iShares MSCI Mexico ETF | 0.30% | 104,300 | $5.6M | Reduce -23.6% |
| TMUS T-Mobile US Inc. | 0.30% | 26,789 | $5.5M | New |
| TIP iShares Tips Bond ETF | 0.29% | 49,500 | $5.5M | New |
| JPM JPMorgan Chase & Co. | 0.28% | 25,089 | $5.3M | New |
| HAS Hasbro Inc. | 0.28% | 72,921 | $5.3M | New |
| EMBJ Embraer SA-Spon ADR | 0.28% | 147,046 | $5.2M | Add +271.2% |
| CNQ Canadian Natural Resources | 0.28% | 156,202 | $5.2M | Add +106.2% |
| KWEB Kranesh Csi China Internet | 0.27% | 150,576 | $5.1M | New |
| ZBRA Zebra Technologies Corp. Class A | 0.27% | 13,758 | $5.1M | Add +163.1% |
| LEVI Levi Strauss & Co. Class A | 0.27% | 233,469 | $5.1M | Add +10.2% |
| NKE Nike Inc. Class B | 0.27% | 56,959 | $5.0M | New |
| PATH Uipath Inc. Class A | 0.27% | 390,176 | $5.0M | New |
| MRK Merck & Co. Inc. | 0.27% | 43,756 | $5.0M | Add +466.6% |
| PRU Prudential Financial Inc. | 0.27% | 40,883 | $5.0M | Add +19.8% |
| F Ford Motor Co. filed as FORD MTR CO | 0.26% | 465,496 | $4.9M | Add +178.4% |
| PYPL PayPal Holdings Inc. | 0.26% | 62,724 | $4.9M | Add +43.2% |
| EEM iShares MSCI Emerging Market | 0.26% | 105,000 | $4.8M | New |
| IBKR Interactive Brokers Gro Class A | 0.25% | 33,935 | $4.7M | Reduce -48.1% |
| QCOM Qualcomm Inc. | 0.25% | 27,741 | $4.7M | New |
| TALO Talos Energy Inc. | 0.24% | 426,135 | $4.4M | Add +0.3% |
| EAT Brinker International Inc. | 0.24% | 57,348 | $4.4M | Add +120.9% |
| IWM iShares Russell 2000 ETF | 0.23% | 19,800 | $4.4M | New |
| VALE Vale SA-SP ADR | 0.23% | 370,675 | $4.3M | Add +59.0% |
| KR Kroger Co. | 0.23% | 75,406 | $4.3M | New |
| BLD Topbuild Corp. | 0.23% | 10,450 | $4.3M | New |
| HACK Amplify Cybersecurity ETF | 0.23% | 62,225 | $4.2M | New |
| AMZN Amazon.com Inc. | 0.22% | 22,450 | $4.2M | Reduce -63.2% |
| RDDT Reddit Inc. Class A | 0.22% | 62,958 | $4.2M | New |
| CEG Constellation Energy | 0.22% | 15,865 | $4.1M | New |
| STX Seagate Technology Holdings | 0.22% | 37,572 | $4.1M | New |
| OKTA Okta Inc. | 0.22% | 55,262 | $4.1M | Reduce -22.6% |
| GM General Motors Co. | 0.22% | 91,486 | $4.1M | Reduce -33.4% |
| MAS Masco Corp. | 0.22% | 48,194 | $4.0M | Add +880.5% |
| GTES Gates Industrial Corp. UK Ltd. | 0.22% | 229,000 | $4.0M | Add +1087.0% |
| APH Amphenol Corp. Class A | 0.21% | 61,252 | $4.0M | Add +248.5% |
Options reported separately and not counted above: MSTR puts ($1.2B), IWM puts ($841.7M), SPY puts ($114.8M), LQD puts ($96.3M), HYG puts ($88.3M), GDXJ calls ($65.4M), XLV calls ($46.2M), EEM calls ($43.6M), SAVEQ puts ($41.9M), MARA puts ($35.6M), GDXJ puts ($31.2M), SIL puts ($20.0M), and 25 more.
Other holdings (22): bonds, preferreds, convertibles and warrants · $1.2B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| PERMIAN RESOURC OPTG LLC (PR 3.25 04/01/28) | NOTE 3.250% 4/0 · principal | 67,181,000 | $159.9M | Reduce -4.3% |
| MICROSTRATEGY INC (MSTR 0 02/15/27) | NOTE 2/1 · principal | 112,000,000 | $152.9M | Reduce -19.7% |
| PEABODY ENERGY CORP (BTU 3.25 03/01/28) | NOTE 3.250% 3/0 · principal | 65,510,000 | $98.4M | No change |
| TILRAY BRANDS INC (TLRY 5.2 06/15/27) | NOTE 5.200% 6/1 · principal | 90,500,000 | $93.0M | Add +1.1% |
| NOVAVAX INC (NVAX 5 12/15/27) | NOTE 5.000%12/1 · principal | 65,777,000 | $82.8M | Add +16.9% |
| BLOOM ENERGY CORP (BE 2.5 08/15/25) | NOTE 2.500% 8/1 · principal | 65,874,000 | $68.0M | Add +37.6% |
| PENN ENTERTAINMENT INC (PENN 2.75 05/15/26) | NOTE 2.750% 5/1 · principal | 57,179,000 | $61.9M | Add +53.8% |
| COINBASE GLOBAL INC (COIN 0.5 06/01/26) | NOTE 0.500% 6/0 · principal | 60,000,000 | $58.9M | No change |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | 55,741,000 | $57.6M | Reduce -23.9% |
| TRANSOCEAN INTERNTNL LTD (RIG 4 12/15/25 *) | DEB 4.000%12/1 · principal | 41,576,000 | $46.3M | Reduce -10.7% |
| GREEN PLAINS INC (GPRE 2.25 03/15/27) | NOTE 2.250% 3/1 · principal | 50,257,000 | $43.5M | Add +14.8% |
| REVANCE THERAPEUTICS INC (RVNC 1.75 02/15/27) | NOTE 1.750% 2/1 · principal | 36,429,000 | $31.6M | No change |
| MANNKIND CORP (MNKD 2.5 03/01/26) | NOTE 2.500% 3/0 · principal | 21,900,000 | $29.2M | No change |
| BITDEER TECHNOLOGIES GRP (BTDR 8.5 08/15/29) | NOTE 8.500% 8/1 · principal | 23,830,000 | $28.4M | New |
| ARBOR REALTY TRUST INC (ABR 7.5 08/01/25) | NOTE 7.500% 8/0 · principal | 26,675,000 | $27.4M | Add +59.7% |
| PLUG POWER INC (PLUG 3.75 06/01/25) | NOTE 3.750% 6/0 · principal | 28,259,000 | $27.3M | Add +9.1% |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | NOTE 5.500% 3/1 · principal | 26,388,000 | $25.2M | No change |
| SUNNOVA ENERGY INTL INC (NOVA 2.625 02/15/28) | NOTE 2.625% 2/1 · principal | 35,495,000 | $23.2M | Reduce -14.8% |
| GROUPON INC (GRPN 1.125 03/15/26) | NOTE 1.125% 3/1 · principal | 21,000,000 | $18.8M | No change |
| ZILLOW GROUP INC (Z 1.375 09/01/26) | NOTE 1.375% 9/0 · principal | 11,053,000 | $16.4M | Add +68.7% |
| TRAVERE THERAPEUTICS INC (TVTX 2.25 03/01/29) | NOTE 2.250% 3/0 · principal | 15,500,000 | $13.4M | New |
| SPIRIT AIRLINES INC (SAVE 1 05/15/26) | NOTE 1.000% 5/1 · principal | 9,000,000 | $2.8M | Add +5.9% |
Total filed on the 13F, all lines: $3.0B.
Portfolio Sells Q2 2024 → Q3 2024
| MSTR Strategy Inc. | Sold out | 0.00% | −3.63 |
| KO The Coca-Cola Co. | Sold out | 0.00% | −1.01 |
| STT State Street Corp. | Reduce -96.9% | 0.03% | −0.79 |
| TMO Thermo Fisher Scientific Inc. | Reduce -81.0% | 0.17% | −0.79 |
| SNOW Snowflake Inc. | Reduce -80.1% | 0.12% | −0.73 |
| CMS CMS Energy Corp. | Reduce -78.7% | 0.18% | −0.65 |
| DIS The Walt Disney Co. | Sold out | 0.00% | −0.60 |
| AMZN Amazon.com Inc. | Reduce -63.2% | 0.22% | −0.52 |
| SHW The Sherwin-Williams Co. | Reduce -91.1% | 0.06% | −0.51 |
| DG Dollar General Corp. | Reduce -17.3% | 0.38% | −0.46 |
| BDX Becton Dickinson and Co. | Sold out | 0.00% | −0.44 |
| PPL PPL Corp. | Reduce -85.1% | 0.08% | −0.43 |
| UBS UBS Group AG-Reg | Reduce -74.1% | 0.13% | −0.42 |
| NVS Novartis AG-Sponsored ADR | Sold out | 0.00% | −0.42 |
| XOM Exxon Mobil Corp. | Sold out | 0.00% | −0.41 |
| CTAS Cintas Corp. | Sold out | 0.00% | −0.39 |
| SFM Sprouts Farmers Market Inc. | Reduce -81.2% | 0.10% | −0.37 |
| PH Parker Hannifin Corp. | Reduce -54.4% | 0.35% | −0.37 |
| PGR Progressive Corp. | Reduce -92.8% | 0.03% | −0.36 |
| REG Regency Centers Corp. | Sold out | 0.00% | −0.35 |
| ZBH Zimmer Biomet Holdings Inc. | Sold out | 0.00% | −0.35 |
| CMA Comerica Inc. | Reduce -93.3% | 0.02% | −0.34 |
| HLT Hilton Worldwide Holdings Inc. | Reduce -65.3% | 0.15% | −0.34 |
| NTRS Northern Trust Corp. | Reduce -59.1% | 0.20% | −0.33 |
| MSI Motorola Solutions Inc. | Reduce -47.0% | 0.36% | −0.33 |
| WDAY Workday Inc. Class A | Sold out | 0.00% | −0.33 |
| AZEK The Azek Co. Inc. | Reduce -91.1% | 0.03% | −0.32 |
| NTAP Netapp Inc. | Reduce -55.5% | 0.18% | −0.31 |
| GOOG Alphabet Inc. Class C | Reduce -18.6% | 0.53% | −0.31 |
| ADP Automatic Data Processing | Reduce -61.3% | 0.19% | −0.31 |
| BNY Bank of New York Mellon Corp. | Sold out | 0.00% | −0.29 |
| ECL Ecolab Inc. | Reduce -74.5% | 0.09% | −0.29 |
| UNP Union Pacific Corp. | Reduce -72.2% | 0.10% | −0.28 |
| VRSK Verisk Analytics Inc. | Reduce -69.5% | 0.10% | −0.28 |
| BKR Baker Hughes Co. | Reduce -91.5% | 0.02% | −0.27 |
| W Wayfair Inc. Class A | Sold out | 0.00% | −0.27 |
| TREX Trex Company Inc. | Sold out | 0.00% | −0.26 |
| CRH CRH PLC | Reduce -60.0% | 0.19% | −0.26 |
| PAGS Pagseguro Digital Ltd. Class A | Sold out | 0.00% | −0.26 |
| SPOT Spotify Technology SA | Reduce -64.0% | 0.15% | −0.26 |
| PCOR Procore Technologies Inc. | Reduce -76.3% | 0.06% | −0.26 |
| SNAP Snap Inc. Class A | Sold out | 0.00% | −0.26 |
| CAG Conagra Brands Inc. | Reduce -57.1% | 0.18% | −0.25 |
| IBKR Interactive Brokers Gro Class A | Reduce -48.1% | 0.25% | −0.25 |
| POR Portland General Electric Co. | Sold out | 0.00% | −0.25 |
| TEAM Atlassian Corp. Class A | Reduce -60.2% | 0.11% | −0.25 |
| APA Apa Corp. | Sold out | 0.00% | −0.24 |
| LDOS Leidos Holdings Inc. | Reduce -92.8% | 0.02% | −0.24 |
| ALL Allstate Corp. | Sold out | 0.00% | −0.24 |
| SBLK Star Bulk Carriers Corp. | Sold out | 0.00% | −0.23 |
Portfolio Buys Q2 2024 → Q3 2024
| IBIT iShares Bitcoin Trust ETF | Add +38.8% | 7.42% | +1.48 |
| GDX Vaneck Gold Miners ETF | New | 1.18% | +1.18 |
| NVDA Nvidia Corp. | Add +538.2% | 1.31% | +1.07 |
| NFLX Netflix Inc. | Add +2268.4% | 1.01% | +0.96 |
| BAC Bank of America Corp. | New | 0.94% | +0.94 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +2384.1% | 0.86% | +0.83 |
| IXUS iShares Core Intl Stock ETF | New | 0.74% | +0.74 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Add +1959.7% | 0.77% | +0.73 |
| MET Metlife Inc. | New | 0.72% | +0.72 |
| WMT Walmart Inc. | Add +140.8% | 1.22% | +0.72 |
| MSFT Microsoft Corp. | Add +157.7% | 1.36% | +0.71 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Add +1647.0% | 0.75% | +0.70 |
| XLI SS Industrial Select Sector | New | 0.70% | +0.70 |
| GOOGL Alphabet Inc. Class A | Add +164.5% | 1.11% | +0.57 |
| TT Trane Technologies PLC | Add +264.6% | 0.74% | +0.54 |
| DUK Duke Energy Corp. | New | 0.47% | +0.47 |
| RSP Invesco S&P 500 Equal Weight | New | 0.47% | +0.47 |
| ZM Zoom Communications Inc. | New | 0.46% | +0.46 |
| NOC Northrop Grumman Corp. | Add +150.8% | 0.67% | +0.41 |
| GE General Electric | Add +646.8% | 0.48% | +0.41 |
| META Meta Platforms Inc. Class A | Add +41.6% | 1.45% | +0.39 |
| SO The Southern Co. | New | 0.38% | +0.38 |
| TWLO Twilio Inc. Class A | New | 0.38% | +0.38 |
| COHR Coherent Corp. | New | 0.37% | +0.37 |
| SYF Synchrony Financial | Add +844.4% | 0.42% | +0.37 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +375.7% | 0.54% | +0.36 |
| AXTA Axalta Coating Systems Ltd. | New | 0.36% | +0.36 |
| AXP American Express Co. | New | 0.34% | +0.34 |
| UBER Uber Technologies Inc. | Add +657.2% | 0.40% | +0.34 |
| CIEN Ciena Corp. | New | 0.33% | +0.33 |
| VZ Verizon Communications Inc. | New | 0.33% | +0.33 |
| IGF iShares Global Infrastructur | New | 0.32% | +0.32 |
| ETHA iShares Ethereum Trust ETF | New | 0.32% | +0.32 |
| DUOL Duolingo | Add +676.8% | 0.35% | +0.31 |
| MFC Manulife Financial Corp. | Add +942.8% | 0.33% | +0.30 |
| NWSA News Corp. Class A | Add +522.3% | 0.37% | +0.30 |
| TMUS T-Mobile US Inc. | New | 0.30% | +0.30 |
| TIP iShares Tips Bond ETF | New | 0.29% | +0.29 |
| JPM JPMorgan Chase & Co. | New | 0.28% | +0.28 |
| HAS Hasbro Inc. | New | 0.28% | +0.28 |
| MMM 3M Co. | Add +33.3% | 0.81% | +0.28 |
| KWEB Kranesh Csi China Internet | New | 0.27% | +0.27 |
| KDP Keurig Dr Pepper Inc. | Add +415.6% | 0.34% | +0.27 |
| NKE Nike Inc. Class B | New | 0.27% | +0.27 |
| PATH Uipath Inc. Class A | New | 0.27% | +0.27 |
| EEM iShares MSCI Emerging Market | New | 0.26% | +0.26 |
| QCOM Qualcomm Inc. | New | 0.25% | +0.25 |
| ANET Arista Networks Inc. | Add +189.8% | 0.37% | +0.23 |
| IWM iShares Russell 2000 ETF | New | 0.23% | +0.23 |
| KR Kroger Co. | New | 0.23% | +0.23 |
Options Activity Q2 2024 → Q3 2024
| MSTR Strategy Inc. | put | Add +20.0% | 6,966,500 | $1.2B |
| IWM iShares Russell 2000 ETF | put | Add +22.7% | 3,810,400 | $841.7M |
| SPY SS SPDR S&P 500 ETF Trust-US | put | New | 200,000 | $114.8M |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | put | New | 852,000 | $96.3M |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | New | 1,100,000 | $88.3M |
| GDXJ Vaneck Junior Gold Miners | call | New | 1,340,000 | $65.4M |
| XLV SS Health Care Select Sector | call | New | 300,000 | $46.2M |
| EEM iShares MSCI Emerging Market | call | New | 950,000 | $43.6M |
| SAVEQ Spirit Airlines Inc. | put | Add +104.9% | 17,461,900 | $41.9M |
| XLY SS Consumer Disc Select Sect | put | Sold out | 200,000 | $36.5Mbefore exit |
| MARA Mara Holdings Inc. | put | New | 2,195,900 | $35.6M |
| GDXJ Vaneck Junior Gold Miners | put | New | 640,000 | $31.2M |
| SIL Global X Silver Miners ETF | put | New | 570,000 | $20.0M |
| BBIO Bridgebio Pharma Inc. | put | Add +76.0% | 681,300 | $17.3M |
| ABR Arbor Realty Trust Inc. | put | Add +65.5% | 1,057,300 | $16.5M |
| PCT Purecycle Technologies Inc. | put | Reduce -11.6% | 1,423,800 | $13.5M |
| GDX Vaneck Gold Miners ETF | call | New | 335,000 | $13.3M |
| LCID Lucid Group Inc. | put | Add +0.4% | 3,652,600 | $12.9M |
| GME Gamestop Corp. Class A | put | Sold out | 493,400 | $12.2Mbefore exit |
| RIVN Rivian Automotive Inc. Class A | put | Reduce -10.7% | 963,800 | $10.8M |
| NFE New Fortress Energy Inc. | call | Sold out | 470,600 | $10.3Mbefore exit |
| GDX Vaneck Gold Miners ETF | put | New | 241,000 | $9.6M |
| ENVX Enovix Corp. | put | Sold out | 617,600 | $9.5Mbefore exit |
| EPD Enterprise Products Partners | call | Reduce -66.7% | 300,000 | $8.7M |
| EFA iShares MSCI Eafe ETF | call | New | 100,000 | $8.4M |
| NVDA Nvidia Corp. | call | Add +25.5% | 50,200 | $6.1M |
| PLUG Plug Power Inc. | put | Add +177.7% | 2,566,000 | $5.8M |
| NOVAQ Sunnova Energy International | put | Reduce -68.7% | 588,200 | $5.7M |
| NVDA Nvidia Corp. | put | Sold out | 36,000 | $4.4Mbefore exit |
| W Wayfair Inc. Class A | put | Sold out | 81,400 | $4.3Mbefore exit |
| OPK Opko Health Inc. | put | Reduce -2.2% | 2,151,700 | $3.2M |
| RVNC Revance Therapeutics Inc. | put | New | 418,200 | $2.2M |
| PGY Pagaya Technologies Ltd. Class A | put | New | 119,000 | $1.3M |
| SAVEQ Spirit Airlines Inc. | call | New | 500,000 | $1.2M |
| ARM Arm Holdings PLC-ADR | put | Sold out | 5,000 | $818Kbefore exit |
| MAXNQ Maxeon Solar Technologie | put | Reduce -90.1% | 1,863,900 | $180K |
| DJT Trump Media & Technology Gro | put | Reduce -80.0% | 10,000 | $161K |
| META Meta Platforms Inc. Class A | call | New | 200 | $114K |
| AMD Advanced Micro Devices | call | New | 300 | $49K |
| RVNC Revance Therapeutics Inc. | call | New | 8,000 | $42K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2024 → Q3 2024
| PERMIAN RESOURC OPTG LLC (PR 3.25 04/01/28) | NOTE 3.250% 4/0 · principal | Reduce -4.3% | 67,181,000 | $159.9M |
| MICROSTRATEGY INC (MSTR 0 02/15/27) | NOTE 2/1 · principal | Reduce -19.7% | 112,000,000 | $152.9M |
| ZILLOW GROUP INC (Z 0.75 09/01/24) | NOTE 0.750% 9/0 · principal | Sold out | 114,878,000 | $125.1Mbefore exit |
| TILRAY BRANDS INC (TLRY 5.2 06/15/27) | NOTE 5.200% 6/1 · principal | Add +1.1% | 90,500,000 | $93.0M |
| NOVAVAX INC (NVAX 5 12/15/27) | NOTE 5.000%12/1 · principal | Add +16.9% | 65,777,000 | $82.8M |
| INSMED INC (INSM 0.75 06/01/28) | NOTE 0.750% 6/0 · principal | Sold out | 33,206,000 | $70.2Mbefore exit |
| BLOOM ENERGY CORP (BE 2.5 08/15/25) | NOTE 2.500% 8/1 · principal | Add +37.6% | 65,874,000 | $68.0M |
| PENN ENTERTAINMENT INC (PENN 2.75 05/15/26) | NOTE 2.750% 5/1 · principal | Add +53.8% | 57,179,000 | $61.9M |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | Reduce -23.9% | 55,741,000 | $57.6M |
| TRANSOCEAN INTERNTNL LTD (RIG 4 12/15/25 *) | DEB 4.000%12/1 · principal | Reduce -10.7% | 41,576,000 | $46.3M |
| GREEN PLAINS INC (GPRE 2.25 03/15/27) | NOTE 2.250% 3/1 · principal | Add +14.8% | 50,257,000 | $43.5M |
| BITDEER TECHNOLOGIES GRP (BTDR 8.5 08/15/29) | NOTE 8.500% 8/1 · principal | New | 23,830,000 | $28.4M |
| ARBOR REALTY TRUST INC (ABR 7.5 08/01/25) | NOTE 7.500% 8/0 · principal | Add +59.7% | 26,675,000 | $27.4M |
| PLUG POWER INC (PLUG 3.75 06/01/25) | NOTE 3.750% 6/0 · principal | Add +9.1% | 28,259,000 | $27.3M |
| SUNNOVA ENERGY INTL INC (NOVA 2.625 02/15/28) | NOTE 2.625% 2/1 · principal | Reduce -14.8% | 35,495,000 | $23.2M |
| ZILLOW GROUP INC (Z 1.375 09/01/26) | NOTE 1.375% 9/0 · principal | Add +68.7% | 11,053,000 | $16.4M |
| NABORS INDUSTRIES INC (NBR 1.75 06/15/29) | NOTE 1.750% 6/1 · principal | Sold out | 21,255,000 | $15.6Mbefore exit |
| TRAVERE THERAPEUTICS INC (TVTX 2.25 03/01/29) | NOTE 2.250% 3/0 · principal | New | 15,500,000 | $13.4M |
| STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) | NOTE 6.750% 7/1 · principal | Sold out | 10,000,000 | $10.3Mbefore exit |
| SPIRIT AIRLINES INC (SAVE 1 05/15/26) | NOTE 1.000% 5/1 · principal | Add +5.9% | 9,000,000 | $2.8M |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,134 | $2.6B | NVDA, AMZN, GOOG, C, HYG |
| Q1 2026 | 1,056 | $2.2B | AMZN, NVDA, GOOG, EWY, C |
| Q4 2025 | 1,139 | $2.0B | IBIT, AMZN, META, EWC, NVDA |
| Q3 2025 | 1,146 | $1.8B | IBIT, GDX, XLU, AMZN, VTV |
| Q2 2025 | 1,220 | $3.3B | PERMIAN RESOURC OPTG LLC (PR 3.25 04/01/28), IBIT, COINBASE GLOBAL INC (COIN 0.5 06/01/26), PURECYCLE TECHNOLOGIES (PCT 7.25 08/15/30), NOVAVAX INC (NVAX 5 12/15/27) |
| Q1 2025 | 1,197 | $2.2B | IBIT, XLU, C, CME, META |
| Q4 2024 | 1,151 | $2.0B | IBIT, MSTR, NVDA, HYG, META |
| Q3 2024 | 1,008 | $1.9B | IBIT, META, MSFT, NVDA, WMT |
| Q2 2024 | 952 | $1.6B | IBIT, MSTR, META, HES, KO |
| Q1 2024 | 976 | $1.9B | IBIT, DG, AMZN, MSFT, MSTR |