Graham Capital Management, L.P.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Graham Capital Management, L.P. reported 1,146 stock positions worth $1.8 billion. Its top holding was iShares Bitcoin Trust ETF (IBIT) at 8.2% of the portfolio, followed by Vaneck Gold Miners ETF (GDX, 3.4%) and St Sr Utl SL SE SPDR ETF-Usd (XLU, 3.0%). Compared with Q2 2025, it opened 436 new positions, sold out of 510, added to 240 and reduced 466. The biggest buy was Vaneck Gold Miners ETF (GDX, shares +713%) and the biggest sale an exit from Permian Resourc Optg LLC (pr 3.25 04/01/28).
- Most Recent 13F
- Q2 2026
- Location
- ROWAYTON, CT
- CIK
- 0001315421
- Portfolio Value
- $1.8B (Q3 2025)
- SEC Filing
- 0002048251-25-002362 ↗ filed Nov 14, 2025
Holdings Value
Holdings 1,146 stocks · $1.8B
| IBIT iShares Bitcoin Trust ETF | 8.24% | 2,312,412 | $150.3M | Reduce -9.5% |
| GDX Vaneck Gold Miners ETF | 3.40% | 812,500 | $62.1M | Add +712.5% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 3.04% | 635,206 | $55.4M | Add +25.3% |
| AMZN Amazon.com Inc. | 2.01% | 166,698 | $36.6M | Add +42.8% |
| VTV Vanguard Mrngstr Val ETF-Aui | 1.80% | 176,000 | $32.8M | Add +60.0% |
| META Meta Platforms Inc. Class A | 1.60% | 39,653 | $29.1M | Add +30.6% |
| XLI SS Industrial Select Sector | 1.35% | 160,102 | $24.7M | Add +513.4% |
| CME Cme Group Inc. | 1.14% | 76,694 | $20.7M | Reduce -12.2% |
| NVDA Nvidia Corp. | 0.97% | 94,838 | $17.7M | Reduce -22.7% |
| BA The Boeing Co. | 0.92% | 77,618 | $16.8M | Reduce -14.6% |
| ETHA iShares Ethereum Trust ETF | 0.91% | 526,904 | $16.6M | Add +0.4% |
| BBIO Bridgebio Pharma Inc. | 0.79% | 278,128 | $14.4M | Add +1018.8% |
| IWM iShares Russell 2000 ETF | 0.77% | 58,400 | $14.1M | New |
| MU Micron Technology Inc. | 0.76% | 83,365 | $13.9M | Reduce -18.5% |
| EWY iShares MSCI South Korea ETF | 0.73% | 165,220 | $13.2M | New |
| FSLR First Solar Inc. | 0.72% | 59,600 | $13.1M | Add +3873.3% |
| TER Teradyne Inc. | 0.71% | 93,830 | $12.9M | New |
| GOOG Alphabet Inc. Class C | 0.68% | 50,783 | $12.4M | Reduce -29.1% |
| RSP Invesco S&P 500 Equal Weight | 0.68% | 65,000 | $12.3M | Add +35.1% |
| DG Dollar General Corp. | 0.65% | 115,000 | $11.9M | Reduce -41.1% |
| EMBJ Embraer SA-Spon ADR | 0.64% | 192,272 | $11.6M | Reduce -2.8% |
| MELI MercadoLibre Inc. | 0.64% | 4,967 | $11.6M | Reduce -30.3% |
| XLF SS Financial Select Sector | 0.63% | 214,000 | $11.5M | New |
| C Citigroup Inc. | 0.62% | 111,703 | $11.3M | Add +136.6% |
| KO The Coca-Cola Co. | 0.61% | 168,950 | $11.2M | Add +44.1% |
| TVTX Travere Therapeutics Inc. | 0.61% | 466,998 | $11.2M | New |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.57% | 15,650 | $10.4M | Reduce -37.8% |
| XOM Exxon Mobil Corp. | 0.55% | 89,812 | $10.1M | New |
| UBER Uber Technologies Inc. | 0.55% | 101,823 | $10.0M | Add +4.9% |
| CMS CMS Energy Corp. | 0.52% | 130,276 | $9.5M | Reduce -9.5% |
| BX Blackstone Inc. | 0.52% | 55,260 | $9.4M | Reduce -38.4% |
| MO Altria Group Inc. | 0.51% | 141,853 | $9.4M | Add +268.8% |
| LNG Cheniere Energy Inc. | 0.50% | 38,707 | $9.1M | Add +37.8% |
| EZA iShares MSCI South Africa Et | 0.49% | 139,545 | $8.9M | New |
| CMCSA Comcast Corp. Class A | 0.47% | 275,411 | $8.7M | Add +27.6% |
| GIS General Mills Inc. | 0.46% | 165,839 | $8.4M | Add +196.8% |
| FXI iShares China Large-Cap ETF | 0.45% | 201,000 | $8.3M | Add +101.0% |
| AME Ametek Inc. | 0.43% | 42,091 | $7.9M | Add +27.3% |
| HD Home Depot Inc. | 0.43% | 19,400 | $7.9M | Add +32.5% |
| GTES Gates Industrial Corp. UK Ltd. | 0.42% | 305,940 | $7.6M | Add +55.2% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.40% | 454,890 | $7.3M | Reduce -54.1% |
| JPM JPMorgan Chase & Co. | 0.39% | 22,500 | $7.1M | New |
| MA Mastercard Inc. Class A | 0.39% | 12,421 | $7.1M | Reduce -22.9% |
| CMI Cummins Inc. | 0.38% | 16,505 | $7.0M | Add +250.7% |
| KWEB Kranesh Csi China Internet | 0.38% | 163,169 | $6.9M | New |
| HON Honeywell International Inc. | 0.37% | 31,864 | $6.7M | Add +112.2% |
| TEL Te Connectivity PLC | 0.36% | 30,184 | $6.6M | New |
| URI United Rentals Inc. | 0.36% | 6,900 | $6.6M | Reduce -18.8% |
| EWC iShares MSCI Canada ETF | 0.36% | 129,000 | $6.5M | New |
| APH Amphenol Corp. Class A | 0.36% | 52,656 | $6.5M | New |
| BSX Boston Scientific Corp. | 0.35% | 66,240 | $6.5M | Reduce -63.2% |
| V Visa Inc. Class A | 0.34% | 18,279 | $6.2M | New |
| PH Parker Hannifin Corp. | 0.33% | 8,000 | $6.1M | Add +6.7% |
| EME Emcor Group Inc. | 0.33% | 9,300 | $6.0M | Add +124.1% |
| MCD McDonald's Corp. | 0.33% | 19,671 | $6.0M | New |
| VRSK Verisk Analytics Inc. | 0.32% | 23,119 | $5.8M | Add +154.3% |
| CRM Salesforce Inc. | 0.32% | 24,532 | $5.8M | Add +2.6% |
| MLM Martin Marietta Materials | 0.32% | 9,200 | $5.8M | Add +15.0% |
| ED Consolidated Edison Inc. | 0.30% | 54,981 | $5.5M | Reduce -51.1% |
| JCI Johnson Controls Internation | 0.29% | 48,639 | $5.3M | Add +101.4% |
| D Dominion Energy Inc. | 0.29% | 85,400 | $5.2M | Reduce -0.4% |
| NVT Nvent Electric PLC | 0.28% | 52,743 | $5.2M | Add +40.6% |
| PNR Pentair PLC | 0.28% | 46,800 | $5.2M | New |
| MSFT Microsoft Corp. | 0.28% | 10,005 | $5.2M | New |
| ICLN iShares Global Clean Energy | 0.28% | 328,731 | $5.1M | New |
| AWI Armstrong World Industries | 0.28% | 25,655 | $5.0M | Reduce -8.7% |
| XBI SS SPDR S&P Biotech ETF | 0.27% | 50,000 | $5.0M | No change |
| NFLX Netflix Inc. | 0.27% | 4,172 | $5.0M | Reduce -55.4% |
| HLT Hilton Worldwide Holdings Inc. | 0.27% | 19,269 | $5.0M | Reduce -33.9% |
| LOW Lowe's Cos Inc. | 0.27% | 19,806 | $5.0M | Add +151.8% |
| ALL Allstate Corp. | 0.27% | 23,015 | $4.9M | Add +124.3% |
| QQQ Invesco QQQ Trust Series 1 | 0.27% | 8,200 | $4.9M | New |
| ADBE Adobe Inc. | 0.27% | 13,948 | $4.9M | Add +10.3% |
| OSCR Oscar Health Inc. Class A | 0.26% | 251,872 | $4.8M | Add +32.4% |
| NDAQ Nasdaq Inc. | 0.26% | 52,855 | $4.7M | Add +322.3% |
| MNST Monster Beverage Corp. | 0.25% | 67,135 | $4.5M | Reduce -69.1% |
| VLTO Veralto Corp. | 0.25% | 42,336 | $4.5M | Add +73.1% |
| MDT Medtronic PLC | 0.25% | 47,242 | $4.5M | New |
| APG Api Group Corp. | 0.25% | 130,695 | $4.5M | Add +93.6% |
| PCAP Procap Acquisition Corp. Class A | 0.25% | 437,135 | $4.5M | Reduce -12.6% |
| NVR NVR Inc. | 0.25% | 557 | $4.5M | Add +33.6% |
| CW Curtiss-Wright Corp. | 0.24% | 8,199 | $4.5M | Add +403.6% |
| GD General Dynamics Corp. | 0.24% | 13,000 | $4.4M | Add +30.8% |
| CHE Chemed Corp. | 0.23% | 9,525 | $4.3M | Add +28.0% |
| SOFI Sofi Technologies Inc. | 0.23% | 159,694 | $4.2M | Add +265.6% |
| CEPT Cantor Equity Partners Class A | 0.23% | 394,318 | $4.2M | No change |
| FERG Ferguson Enterprises Inc. | 0.23% | 18,300 | $4.1M | New |
| DLTR Dollar Tree Inc. | 0.22% | 42,601 | $4.0M | Add +56.2% |
| ALLE Allegion PLC | 0.22% | 22,500 | $4.0M | New |
| MSM MSC Industrial Direct Co. Class A | 0.22% | 42,962 | $4.0M | New |
| LHX L3HARRIS Technologies Inc. | 0.21% | 12,791 | $3.9M | Add +77.7% |
| MCK McKesson Corp. | 0.21% | 5,030 | $3.9M | Reduce -42.9% |
| GENI Genius Sports Ltd. | 0.21% | 310,359 | $3.8M | Reduce -41.4% |
| RCL Royal Caribbean Cruises Ltd. | 0.21% | 11,785 | $3.8M | Add +49.1% |
| XME SS SPDR S&P Metals Mining | 0.20% | 40,000 | $3.7M | Reduce -55.6% |
| VNT Vontier Corp. | 0.20% | 88,500 | $3.7M | Add +30.1% |
| FAST Fastenal Co. | 0.20% | 75,645 | $3.7M | Reduce -61.2% |
| AGNC AGNC Investment Corp. | 0.20% | 378,760 | $3.7M | Add +80.1% |
| LAMR Lamar Advertising Co. Class A | 0.20% | 30,000 | $3.7M | New |
| YUM Yum! Brands Inc. | 0.20% | 23,765 | $3.6M | Reduce -42.2% |
Options reported separately and not counted above: MSTR puts ($1.4B), IWM puts ($942.9M), IBIT puts ($154.5M), IWM calls ($142.3M), SPY puts ($133.2M), QQQ puts ($120.1M), FBTC puts ($116.5M), EOSE puts ($88.2M), MARA puts ($49.9M), BITO puts ($49.2M), HYG puts ($48.7M), CLMT puts ($47.6M), and 35 more.
Other holdings (15): bonds, preferreds, convertibles and warrants · $874.8M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BLOOM ENERGY CORP (BE 3 06/01/29) | NOTE 3.000% 6/0 · principal | 51,510,000 | $213.7M | New |
| BLOOM ENERGY CORP (BE 3 06/01/28) | NOTE 3.000% 6/0 · principal | 36,170,000 | $164.2M | New |
| PURECYCLE TECHNOLOGIES (PCT 7.25 08/15/30) | NOTE 7.250% 8/1 · principal | 62,567,000 | $75.2M | New |
| TILRAY BRANDS INC (TLRY 5.2 06/15/27) | NOTE 5.200% 6/1 · principal | 58,500,000 | $68.6M | New |
| SUNRUN INC (RUN 4 03/01/30) | NOTE 4.000% 3/0 · principal | 47,058,000 | $63.5M | New |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | 59,794,000 | $55.1M | New |
| GREEN PLAINS INC (GPRE 2.25 03/15/27) | NOTE 2.250% 3/1 · principal | 45,759,000 | $43.9M | New |
| GROUPON INC (GRPN 4.875 06/30/30 UNRS) | NOTE 4.875% 6/3 · principal | 42,088,000 | $39.2M | New |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | 25,741,000 | $36.2M | New |
| GROUPON INC | DEBT 4.875% 6/3 · principal | 28,383,000 | $26.4M | New |
| THE REALREAL INC (REAL 4 02/15/31) | DEBT 4.000% 2/1 · principal | 20,124,000 | $25.9M | New |
| TRAVERE THERAPEUTICS INC (TVTX 2.25 03/01/29) | NOTE 2.250% 3/0 · principal | 22,238,000 | $25.1M | New |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | NOTE 5.500% 3/1 · principal | 20,638,000 | $20.4M | New |
| BEYOND MEAT INC (BYND 0 03/15/27) | NOTE 3/1 · principal | 60,730,000 | $12.3M | New |
| APPLIED OPTOELECTRONICS INC | NOTE 2.750% 1/1 · principal | 4,995,000 | $5.0M | New |
Total filed on the 13F, all lines: $2.7B.
Portfolio Sells Q2 2025 → Q3 2025
| PERMIAN RESOURC OPTG LLC (PR 3.25 04/01/28) | Sold out | 0.00% | −4.93 |
| COINBASE GLOBAL INC (COIN 0.5 06/01/26) | Sold out | 0.00% | −2.66 |
| PURECYCLE TECHNOLOGIES (PCT 7.25 08/15/30) | Sold out | 0.00% | −2.35 |
| NOVAVAX INC (NVAX 5 12/15/27) | Sold out | 0.00% | −2.28 |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | Sold out | 0.00% | −2.22 |
| BLOOM ENERGY CORP (BE 3 06/01/29) | Sold out | 0.00% | −1.93 |
| TILRAY BRANDS INC (TLRY 5.2 06/15/27) | Sold out | 0.00% | −1.66 |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | Sold out | 0.00% | −1.64 |
| BLOOM ENERGY CORP (BE 3 06/01/28) | Sold out | 0.00% | −1.64 |
| TRAVERE THERAPEUTICS INC (TVTX 2.25 03/01/29) | Sold out | 0.00% | −1.21 |
| GREEN PLAINS INC (GPRE 2.25 03/15/27) | Sold out | 0.00% | −1.12 |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | Sold out | 0.00% | −0.98 |
| TRANSOCEAN INTERNTNL LTD (RIG 4 12/15/25 *) | Sold out | 0.00% | −0.85 |
| PEABODY ENERGY CORP (BTU 3.25 03/01/28) | Sold out | 0.00% | −0.77 |
| SUNRUN INC (RUN 4 03/01/30) | Sold out | 0.00% | −0.69 |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | Sold out | 0.00% | −0.62 |
| CIPHER DIGITAL INC (CIFR 1.75 05/15/30) | Sold out | 0.00% | −0.58 |
| CAT Caterpillar Inc. | Sold out | 0.00% | −0.48 |
| EEM iShares MSCI Emerging Market | Sold out | 0.00% | −0.47 |
| EWJ iShares MSCI Japan ETF | Sold out | 0.00% | −0.36 |
| CVX Chevron Corp. | Reduce -96.5% | 0.03% | −0.35 |
| ICE Intercontinental Exchange Inc. | Reduce -82.2% | 0.15% | −0.35 |
| THE REALREAL INC (REAL 4 02/15/31) | Sold out | 0.00% | −0.31 |
| MMM 3M Co. | Sold out | 0.00% | −0.28 |
| SCHW Schwab (charles) Corp. | Reduce -84.8% | 0.11% | −0.28 |
| ACGL Arch Capital Group Ltd. | Reduce -93.7% | 0.03% | −0.27 |
| OKTA Okta Inc. | Reduce -85.3% | 0.09% | −0.27 |
| XHB SS SPDR S&P Homebldrs ETF | Sold out | 0.00% | −0.26 |
| NTNX Nutanix Inc. Class A | Sold out | 0.00% | −0.26 |
| ADP Automatic Data Processing | Sold out | 0.00% | −0.25 |
| ADI Analog Devices Inc. | Reduce -78.9% | 0.16% | −0.25 |
| RGA Reinsurance Group of America | Reduce -91.5% | 0.04% | −0.24 |
| BSX Boston Scientific Corp. | Reduce -63.2% | 0.35% | −0.23 |
| BRK.B Berkshire Hathaway Inc. Class B | Sold out | 0.00% | −0.23 |
| LRCX Lam Research Corp. | Reduce -85.9% | 0.12% | −0.23 |
| OEF iShares S&P 100 ETF | Sold out | 0.00% | −0.22 |
| ETR Entergy Corp. | Sold out | 0.00% | −0.22 |
| EMR Emerson Electric Co. | Sold out | 0.00% | −0.22 |
| AEE Ameren Corporation | Reduce -97.5% | 0.01% | −0.21 |
| MET Metlife Inc. | Sold out | 0.00% | −0.21 |
| AVGO Broadcom Inc. | Reduce -91.8% | 0.04% | −0.20 |
| COHR Coherent Corp. | Sold out | 0.00% | −0.20 |
| EQH Equitable Holdings Inc. | Reduce -87.1% | 0.05% | −0.20 |
| AMCR Amcor PLC | Sold out | 0.00% | −0.20 |
| INTU Intuit Inc. | Sold out | 0.00% | −0.19 |
| RRC Range Resources Corp. | Reduce -79.7% | 0.10% | −0.19 |
| INDA iShares MSCI India ETF | Sold out | 0.00% | −0.19 |
| CSCO Cisco Systems Inc. | Reduce -71.0% | 0.19% | −0.18 |
| HBAN Huntington Bancshares Inc. | Sold out | 0.00% | −0.18 |
| MNST Monster Beverage Corp. | Reduce -69.1% | 0.25% | −0.17 |
Portfolio Buys Q2 2025 → Q3 2025
| GDX Vaneck Gold Miners ETF | Add +712.5% | 3.40% | +3.24 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +25.3% | 3.04% | +1.77 |
| XLI SS Industrial Select Sector | Add +513.4% | 1.35% | +1.24 |
| AMZN Amazon.com Inc. | Add +42.8% | 2.01% | +1.23 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +60.0% | 1.80% | +1.21 |
| META Meta Platforms Inc. Class A | Add +30.6% | 1.60% | +0.91 |
| IWM iShares Russell 2000 ETF | New | 0.77% | +0.77 |
| BBIO Bridgebio Pharma Inc. | Add +1018.8% | 0.79% | +0.76 |
| EWY iShares MSCI South Korea ETF | New | 0.73% | +0.73 |
| FSLR First Solar Inc. | Add +3873.3% | 0.72% | +0.71 |
| TER Teradyne Inc. | New | 0.71% | +0.71 |
| XLF SS Financial Select Sector | New | 0.63% | +0.63 |
| TVTX Travere Therapeutics Inc. | New | 0.61% | +0.61 |
| ETHA iShares Ethereum Trust ETF | Add +0.4% | 0.91% | +0.60 |
| XOM Exxon Mobil Corp. | New | 0.55% | +0.55 |
| C Citigroup Inc. | Add +136.6% | 0.62% | +0.50 |
| EZA iShares MSCI South Africa Et | New | 0.49% | +0.49 |
| MO Altria Group Inc. | Add +268.8% | 0.51% | +0.44 |
| RSP Invesco S&P 500 Equal Weight | Add +35.1% | 0.68% | +0.41 |
| JPM JPMorgan Chase & Co. | New | 0.39% | +0.39 |
| KWEB Kranesh Csi China Internet | New | 0.38% | +0.38 |
| GIS General Mills Inc. | Add +196.8% | 0.46% | +0.37 |
| TEL Te Connectivity PLC | New | 0.36% | +0.36 |
| KO The Coca-Cola Co. | Add +44.1% | 0.61% | +0.36 |
| EWC iShares MSCI Canada ETF | New | 0.36% | +0.36 |
| APH Amphenol Corp. Class A | New | 0.36% | +0.36 |
| V Visa Inc. Class A | New | 0.34% | +0.34 |
| FXI iShares China Large-Cap ETF | Add +101.0% | 0.45% | +0.34 |
| CMI Cummins Inc. | Add +250.7% | 0.38% | +0.34 |
| MCD McDonald's Corp. | New | 0.33% | +0.33 |
| LNG Cheniere Energy Inc. | Add +37.8% | 0.50% | +0.29 |
| PNR Pentair PLC | New | 0.28% | +0.28 |
| MSFT Microsoft Corp. | New | 0.28% | +0.28 |
| ICLN iShares Global Clean Energy | New | 0.28% | +0.28 |
| GTES Gates Industrial Corp. UK Ltd. | Add +55.2% | 0.42% | +0.28 |
| UBER Uber Technologies Inc. | Add +4.9% | 0.55% | +0.27 |
| QQQ Invesco QQQ Trust Series 1 | New | 0.27% | +0.27 |
| HD Home Depot Inc. | Add +32.5% | 0.43% | +0.27 |
| EME Emcor Group Inc. | Add +124.1% | 0.33% | +0.26 |
| HON Honeywell International Inc. | Add +112.2% | 0.37% | +0.26 |
| AME Ametek Inc. | Add +27.3% | 0.43% | +0.25 |
| MDT Medtronic PLC | New | 0.25% | +0.25 |
| CMCSA Comcast Corp. Class A | Add +27.6% | 0.47% | +0.24 |
| VRSK Verisk Analytics Inc. | Add +154.3% | 0.32% | +0.23 |
| FERG Ferguson Enterprises Inc. | New | 0.23% | +0.23 |
| NDAQ Nasdaq Inc. | Add +322.3% | 0.26% | +0.22 |
| CW Curtiss-Wright Corp. | Add +403.6% | 0.24% | +0.22 |
| LOW Lowe's Cos Inc. | Add +151.8% | 0.27% | +0.22 |
| ALLE Allegion PLC | New | 0.22% | +0.22 |
| MSM MSC Industrial Direct Co. Class A | New | 0.22% | +0.22 |
Options Activity Q2 2025 → Q3 2025
| IWM iShares Russell 2000 ETF | put | Add +65.6% | 3,897,000 | $942.9M |
| IBIT iShares Bitcoin Trust ETF | put | Reduce -5.2% | 2,377,600 | $154.5M |
| IWM iShares Russell 2000 ETF | call | New | 588,200 | $142.3M |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Reduce -42.9% | 200,000 | $133.2M |
| QQQ Invesco QQQ Trust Series 1 | put | Reduce -27.3% | 200,000 | $120.1M |
| FBTC Fidelity Wise Origin Bitcoin | put | Add +8.5% | 1,166,800 | $116.5M |
| EOSE Eos Energy Enterprises Inc. | put | Add +1.9% | 7,743,900 | $88.2M |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | New | 599,700 | $48.7M |
| GME Gamestop Corp. Class A | put | Add +167410.0% | 1,675,100 | $45.7M |
| SLV iShares Silver Trust | call | Reduce -61.3% | 900,000 | $38.1M |
| EEM iShares MSCI Emerging Market | call | New | 700,000 | $37.4M |
| PCT Purecycle Technologies Inc. | put | Reduce -27.7% | 2,514,200 | $33.1M |
| RUN Sunrun Inc. | put | Reduce -25.8% | 1,764,700 | $30.5M |
| NVAX Novavax Inc. | put | Add +4.1% | 2,549,900 | $22.1M |
| BYND Beyond Meat Inc. | put | New | 11,293,500 | $21.3M |
| OPEN Opendoor Technologies Inc. | put | New | 2,410,800 | $19.2M |
| PLUG Plug Power Inc. | put | Add +0.1% | 6,903,100 | $16.1M |
| APLD Applied Digital Corp. | put | Sold out | 1,320,200 | $13.3Mbefore exit |
| LCID Lucid Group Inc. | put | Add +43.0% | 551,840 | $13.1M |
| ECHO Echostar Corp. Class A | put | Sold out | 432,900 | $12.0Mbefore exit |
| FDX FedEx Corp. | put | New | 50,000 | $11.8M |
| PCT Purecycle Technologies Inc. | call | Sold out | 853,400 | $11.7Mbefore exit |
| AAPL Apple Inc. | put | Reduce -50.0% | 45,000 | $11.5M |
| TLT iShares 20+ Year Treasury BD | put | Reduce -84.6% | 100,000 | $8.9M |
| GPRE Green Plains Inc. | put | Sold out | 1,287,000 | $7.8Mbefore exit |
| GDX Vaneck Gold Miners ETF | call | Reduce -77.3% | 100,000 | $7.6M |
| KRE SS SPDR S&P Regional Bank | put | New | 100,000 | $6.3M |
| GPRE Green Plains Inc. | call | Sold out | 1,005,500 | $6.1Mbefore exit |
| FEZ State Street SPDR Euro Stoxx | put | Sold out | 100,000 | $6.0Mbefore exit |
| QQQ Invesco QQQ Trust Series 1 | call | Sold out | 10,000 | $5.5Mbefore exit |
| SPCE Virgin Galactic Holdings Inc. | put | Add +17.1% | 1,398,500 | $5.4M |
| GDX Vaneck Gold Miners ETF | put | Sold out | 100,000 | $5.2Mbefore exit |
| EWT iShares MSCI Taiwan ETF | put | Sold out | 80,500 | $4.6Mbefore exit |
| GRPN Groupon Inc. | put | Reduce -55.5% | 189,000 | $4.4M |
| AMZN Amazon.com Inc. | put | New | 20,000 | $4.4M |
| B Barrick Mining Corp. | call | Sold out | 184,000 | $3.8Mbefore exit |
| V Visa Inc. Class A | put | Sold out | 10,000 | $3.6Mbefore exit |
| BITF Bitfarms Ltd./Canada | call | New | 1,176,500 | $3.3M |
| PGY Pagaya Technologies Ltd. Class A | put | Sold out | 124,000 | $2.6Mbefore exit |
| XLF SS Financial Select Sector | put | Sold out | 50,000 | $2.6Mbefore exit |
| SMLR Semler Scientific Inc. | put | New | 85,300 | $2.6M |
| EPD Enterprise Products Partners | call | Sold out | 75,000 | $2.3Mbefore exit |
| XLU St Sr Utl SL SE SPDR ETF-Usd | call | New | 25,000 | $2.2M |
| PPTA Perpetua Resources Corp. | call | New | 100,000 | $2.0M |
| NFE New Fortress Energy Inc. | put | Reduce -64.3% | 676,200 | $1.5M |
| MARA Mara Holdings Inc. | call | New | 50,000 | $913K |
| STRIVE INC | put | New | 357,000 | $893K |
| CRM Salesforce Inc. | call | Sold out | 2,500 | $682Kbefore exit |
| ASSET ENTITIES INC | put | Sold out | 109,800 | $412Kbefore exit |
| EBAY eBay Inc. | call | New | 4,000 | $364K |
Showing the first 50 of 60.
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2025 → Q3 2025
| BLOOM ENERGY CORP (BE 3 06/01/29) | NOTE 3.000% 6/0 · principal | New | 51,510,000 | $213.7M |
| BLOOM ENERGY CORP (BE 3 06/01/28) | NOTE 3.000% 6/0 · principal | New | 36,170,000 | $164.2M |
| PURECYCLE TECHNOLOGIES (PCT 7.25 08/15/30) | NOTE 7.250% 8/1 · principal | New | 62,567,000 | $75.2M |
| TILRAY BRANDS INC (TLRY 5.2 06/15/27) | NOTE 5.200% 6/1 · principal | New | 58,500,000 | $68.6M |
| SUNRUN INC (RUN 4 03/01/30) | NOTE 4.000% 3/0 · principal | New | 47,058,000 | $63.5M |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | New | 59,794,000 | $55.1M |
| GREEN PLAINS INC (GPRE 2.25 03/15/27) | NOTE 2.250% 3/1 · principal | New | 45,759,000 | $43.9M |
| GROUPON INC (GRPN 4.875 06/30/30 UNRS) | NOTE 4.875% 6/3 · principal | New | 42,088,000 | $39.2M |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | New | 25,741,000 | $36.2M |
| GROUPON INC | DEBT 4.875% 6/3 · principal | New | 28,383,000 | $26.4M |
| THE REALREAL INC (REAL 4 02/15/31) | DEBT 4.000% 2/1 · principal | New | 20,124,000 | $25.9M |
| TRAVERE THERAPEUTICS INC (TVTX 2.25 03/01/29) | NOTE 2.250% 3/0 · principal | New | 22,238,000 | $25.1M |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | NOTE 5.500% 3/1 · principal | New | 20,638,000 | $20.4M |
| BEYOND MEAT INC (BYND 0 03/15/27) | NOTE 3/1 · principal | New | 60,730,000 | $12.3M |
| APPLIED OPTOELECTRONICS INC | NOTE 2.750% 1/1 · principal | New | 4,995,000 | $5.0M |
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 |