Graham Capital Management, L.P.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Graham Capital Management, L.P. reported 1,056 stock positions worth $2.2 billion. Its top holding was Amazon.com (AMZN) at 3.9% of the portfolio, followed by Nvidia (NVDA, 2.3%) and Alphabet Class C (GOOG, 2.1%). Compared with Q4 2025, it opened 375 new positions, sold out of 458, added to 329 and reduced 348. The biggest buy was a new position in iShares MSCI South Korea ETF (EWY) and the biggest sale iShares Bitcoin Trust ETF (IBIT, shares −40%).
- Most Recent 13F
- Q2 2026
- Location
- ROWAYTON, CT
- CIK
- 0001315421
- Portfolio Value
- $2.2B (Q1 2026)
- SEC Filing
- 0002048251-26-003779 ↗ filed May 15, 2026
Holdings Value
Holdings 1,056 stocks · $2.2B
| AMZN Amazon.com Inc. | 3.85% | 408,024 | $85.0M | Add +65.3% |
| NVDA Nvidia Corp. | 2.32% | 293,871 | $51.3M | Add +32.2% |
| GOOG Alphabet Inc. Class C | 2.13% | 164,235 | $47.1M | Add +103.6% |
| EWY iShares MSCI South Korea ETF | 2.02% | 362,700 | $44.6M | New |
| C Citigroup Inc. | 2.00% | 389,193 | $44.1M | Add +61.4% |
| IBIT iShares Bitcoin Trust ETF | 1.61% | 925,862 | $35.6M | Reduce -40.2% |
| RSP Invesco S&P 500 Equal Weight | 1.56% | 179,869 | $34.5M | Add +205.9% |
| NFLX Netflix Inc. | 1.51% | 346,906 | $33.4M | Reduce -11.9% |
| XLF SS Financial Select Sector | 1.47% | 659,300 | $32.5M | New |
| CRM Salesforce Inc. | 1.42% | 167,792 | $31.3M | Add +100.3% |
| CIFR Cipher Digital Inc. | 1.27% | 2,178,594 | $28.0M | Reduce -3.5% |
| META Meta Platforms Inc. Class A | 1.19% | 45,936 | $26.3M | Reduce -38.9% |
| EMBJ Embraer SA-Spon ADR | 1.08% | 401,632 | $23.8M | Add +63.8% |
| BA The Boeing Co. | 1.07% | 119,056 | $23.7M | Add +0.8% |
| IWM iShares Russell 2000 ETF | 1.07% | 95,300 | $23.6M | New |
| CME Cme Group Inc. | 1.04% | 77,801 | $23.0M | Reduce -2.8% |
| MU Micron Technology Inc. | 0.99% | 64,873 | $21.9M | Reduce -32.5% |
| INTC Intel Corp. | 0.99% | 495,755 | $21.9M | Add +35.0% |
| PG The Procter & Gamble Co. | 0.93% | 142,191 | $20.5M | Add +78.6% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.89% | 246,900 | $19.6M | Add +720.3% |
| FSLR First Solar Inc. | 0.89% | 99,320 | $19.6M | Add +1.3% |
| EWW iShares MSCI Mexico ETF | 0.85% | 247,908 | $18.7M | Add +350.7% |
| EWZ iShares MSCI Brazil ETF | 0.81% | 467,477 | $17.9M | Add +894.6% |
| V Visa Inc. Class A | 0.75% | 55,008 | $16.6M | Add +96.2% |
| EEM iShares MSCI Emerging Market | 0.75% | 290,087 | $16.5M | New |
| BE Bloom Energy Corp. Class A | 0.72% | 116,921 | $15.8M | New |
| OKTA Okta Inc. | 0.71% | 200,305 | $15.8M | New |
| SPOT Spotify Technology SA | 0.71% | 32,164 | $15.6M | Add +524.7% |
| ADP Automatic Data Processing | 0.68% | 74,299 | $15.1M | Add +85.9% |
| MA Mastercard Inc. Class A | 0.66% | 29,127 | $14.6M | New |
| NET Cloudflare Inc. Class A | 0.64% | 68,903 | $14.2M | Add +1356.1% |
| MET Metlife Inc. | 0.62% | 193,190 | $13.7M | Add +149.3% |
| UPS United Parcel Service Class B | 0.60% | 134,414 | $13.2M | Reduce -55.4% |
| SO The Southern Co. | 0.57% | 129,217 | $12.5M | New |
| ORLY O'reilly Automotive Inc. | 0.53% | 127,894 | $11.8M | Add +976.5% |
| GS Goldman Sachs Group Inc. | 0.53% | 13,743 | $11.6M | New |
| OPEN Opendoor Technologies Inc. | 0.52% | 2,474,330 | $11.6M | Reduce -10.6% |
| IEX Idex Corp. | 0.51% | 59,914 | $11.4M | Add +27.2% |
| GDX Vaneck Gold Miners ETF | 0.46% | 110,000 | $10.1M | Add +340.0% |
| IVE iShares S&P 500 Value ETF | 0.46% | 47,750 | $10.1M | New |
| MAR Marriott International Class A | 0.44% | 29,733 | $9.7M | New |
| MSFT Microsoft Corp. | 0.44% | 26,270 | $9.7M | Add +7.3% |
| IGV iShares Expanded Tech-Softwa | 0.41% | 112,318 | $9.0M | Add +36.1% |
| WMT Walmart Inc. | 0.39% | 69,070 | $8.6M | Add +7.9% |
| CFG Citizens Financial Group | 0.38% | 140,716 | $8.4M | Add +266.4% |
| PANW Palo Alto Networks Inc. | 0.38% | 52,214 | $8.4M | New |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.38% | 52,091 | $8.3M | Reduce -20.4% |
| KWEB Kranesh Csi China Internet | 0.36% | 279,000 | $7.9M | Reduce -49.8% |
| PEG Public Service Enterprise GP | 0.35% | 96,432 | $7.8M | Add +248.6% |
| IQV Iqvia Holdings Inc. | 0.35% | 45,475 | $7.8M | New |
| MDB Mongodb Inc. | 0.35% | 31,336 | $7.7M | Add +408.5% |
| PRU Prudential Financial Inc. | 0.35% | 78,044 | $7.6M | Add +49.2% |
| ADI Analog Devices Inc. | 0.34% | 23,313 | $7.4M | Add +2388.1% |
| COR Cencora Inc. | 0.33% | 23,463 | $7.4M | Add +8.1% |
| ED Consolidated Edison Inc. | 0.31% | 60,845 | $6.9M | Add +95.9% |
| KHC The Kraft Heinz Co. | 0.31% | 305,664 | $6.9M | New |
| TPR Tapestry Inc. | 0.31% | 48,335 | $6.8M | New |
| D Dominion Energy Inc. | 0.30% | 108,509 | $6.7M | Add +602.1% |
| PNW Pinnacle West Capital | 0.30% | 66,477 | $6.7M | New |
| ECL Ecolab Inc. | 0.30% | 25,010 | $6.7M | New |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.30% | 56,050 | $6.6M | Add +35.2% |
| DDOG Datadog Inc. Class A | 0.30% | 56,139 | $6.6M | Add +543.6% |
| FAST Fastenal Co. | 0.30% | 141,767 | $6.6M | Add +191.4% |
| DT Dynatrace Inc. | 0.30% | 176,083 | $6.5M | New |
| REG Regency Centers Corp. | 0.29% | 85,029 | $6.4M | New |
| BRX Brixmor Property Group Inc. | 0.29% | 222,751 | $6.4M | Add +64.3% |
| ROST Ross Stores Inc. | 0.29% | 29,437 | $6.4M | New |
| HD Home Depot Inc. | 0.29% | 19,279 | $6.3M | Reduce -40.5% |
| MS Morgan Stanley | 0.28% | 38,133 | $6.3M | New |
| TLT iShares 20+ Year Treasury BD | 0.28% | 72,000 | $6.2M | Add +89.5% |
| MNST Monster Beverage Corp. | 0.27% | 83,152 | $6.0M | Add +56.3% |
| PH Parker Hannifin Corp. | 0.27% | 6,698 | $6.0M | Add +58.3% |
| DHI D.R. Horton Inc. | 0.27% | 43,503 | $6.0M | Add +512.7% |
| COST Costco Wholesale Corp. | 0.27% | 5,982 | $6.0M | Add +62.0% |
| NVR NVR Inc. | 0.26% | 870 | $5.7M | Add +181.6% |
| BBAI Bigbear.ai Holdings Inc. | 0.26% | 1,627,417 | $5.7M | New |
| CNQ Canadian Natural Resources | 0.26% | 115,954 | $5.7M | Add +325.1% |
| COF Capital One Financial Corp. | 0.26% | 30,865 | $5.6M | Reduce -30.9% |
| SCHW Schwab (charles) Corp. | 0.25% | 58,635 | $5.5M | Add +53.3% |
| FE Firstenergy Corp. | 0.24% | 105,243 | $5.3M | Add +2101.7% |
| PR Permian Resources Corp. Class A | 0.24% | 247,783 | $5.3M | Add +2345.6% |
| AON Aon PLC Class A | 0.24% | 16,254 | $5.2M | New |
| APG Api Group Corp. | 0.24% | 128,867 | $5.2M | Add +19.6% |
| EPRT Essential Properties Realty | 0.24% | 171,206 | $5.2M | Add +171.8% |
| NTRA Natera Inc. | 0.23% | 25,746 | $5.1M | Reduce 0.0% |
| SBUX Starbucks Corp. | 0.23% | 56,751 | $5.1M | Reduce -7.7% |
| VENU Venu Holding Corp. filed as VENU HLDG CORP | 0.23% | 1,530,628 | $5.1M | New |
| ADC Agree Realty Corp. | 0.23% | 66,695 | $5.0M | Add +22.7% |
| FIVE Five Below | 0.23% | 21,897 | $5.0M | Add +24.1% |
| AME Ametek Inc. | 0.23% | 23,277 | $5.0M | Reduce -35.0% |
| HST Host Hotels & Resorts Inc. | 0.22% | 257,750 | $4.9M | Add +112.6% |
| ETHA iShares Ethereum Trust ETF | 0.22% | 310,000 | $4.9M | Add +3.3% |
| JNJ Johnson & Johnson | 0.22% | 20,059 | $4.9M | Add +207.2% |
| XME SS SPDR S&P Metals Mining | 0.22% | 45,000 | $4.9M | New |
| HON Honeywell International Inc. | 0.22% | 21,265 | $4.8M | Add +78.5% |
| A Agilent Technologies Inc. | 0.22% | 42,055 | $4.8M | Add +277.9% |
| LOW Lowe's Cos Inc. | 0.22% | 20,227 | $4.8M | New |
| DRI Darden Restaurants Inc. | 0.22% | 24,282 | $4.8M | New |
| BHP BHP Group Ltd.-Spon ADR filed as BHP BILLITON LIMITED | 0.21% | 64,878 | $4.7M | Add +65.3% |
| SPGI S&P Global Inc. | 0.21% | 10,759 | $4.6M | New |
Options reported separately and not counted above: IWM puts ($315.1M), GDX calls ($212.9M), HYG puts ($191.8M), IBIT puts ($89.5M), CLMT puts ($61.5M), FBTC puts ($41.1M), GME puts ($38.6M), IWM calls ($37.2M), LCID puts ($34.6M), PCT puts ($17.5M), NVAX puts ($17.0M), CRM calls ($16.3M), and 28 more.
Other holdings (24): bonds, preferreds, convertibles and warrants · $752.3M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| APPLIED DIGITAL CORP (APLD 2.75 06/01/30) | NOTE 2.750% 6/0 · principal | 36,338,000 | $96.5M | Reduce -43.0% |
| GREEN PLAINS INC (GPRE 5.25 11/01/30 UNRS) | NOTE 5.250%11/0 · principal | 58,308,000 | $82.2M | No change |
| SUNRUN INC (RUN 4 03/01/30) | NOTE 4.000% 3/0 · principal | 50,940,000 | $60.7M | Reduce -3.8% |
| TILRAY BRANDS INC (TLRY 5.2 06/15/27) | NOTE 5.200% 6/1 · principal | 59,000,000 | $59.7M | Reduce -0.8% |
| PURECYCLE TECHNOLOGIES (PCT 7.25 08/15/30) | NOTE 7.250% 8/1 · principal | 68,167,000 | $59.4M | No change |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | 59,794,000 | $57.4M | No change |
| GROUPON INC (GRPN 4.875 06/30/30 UNRS) | NOTE 4.875% 6/3 · principal | 65,471,000 | $54.1M | No change |
| THE REALREAL INC (REAL 4 02/15/31) | DEBT 4.000% 2/1 · principal | 41,375,000 | $49.5M | Add +16.6% |
| RAMACO RESOURCES INC (METC 0 11/01/31) | NOTE 11/0 · principal | 56,300,000 | $43.2M | Add +19.0% |
| BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27) | NOTE 2.500% 3/1 · principal | 22,241,000 | $40.1M | No change |
| CLEANSPARK INC (CLSK 0 06/15/30) | NOTE 6/1 · principal | 29,519,000 | $28.7M | Reduce -14.5% |
| TRAVERE THERAPEUTICS INC (TVTX 2.25 03/01/29) | NOTE 2.250% 3/0 · principal | 16,872,000 | $21.4M | New |
| GREEN PLAINS INC (GPRE 2.25 03/15/27) | NOTE 2.250% 3/1 · principal | 19,175,000 | $19.3M | Add +213.0% |
| SOLARIS ENERGY INFRASTRU (SEI 0.25 10/01/31) | NOTE 0.250%10/0 · principal | 13,233,000 | $16.6M | Reduce -27.4% |
| MARA HOLDINGS INC (MARA 0 03/01/30) | NOTE 3/0 · principal | 17,000,000 | $15.1M | Reduce -52.8% |
| APPLIED OPTOELECTRONICS INC | NOTE 2.750% 1/1 · principal | 6,534,000 | $14.6M | Reduce -71.7% |
| GREEN PLAINS INC | DEBT 5.250%11/0 · principal | 9,350,000 | $13.2M | No change |
| T1 ENERGY INC (TE 5.25 12/01/30) | NOTE 5.250%12/0 · principal | 10,500,000 | $11.1M | No change |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | NOTE 5.500% 3/1 · principal | 5,948,000 | $5.9M | Reduce -71.2% |
| ZENAS BIOPHARMA INC (ZBIO 2.5 04/01/32) | NOTE 2.500% 4/0 · principal | 2,500,000 | $2.6M | New |
| BEYOND MEAT INC (BYND 7 10/15/30) | DEBT 10/1 · principal | 1,970,000 | $1.2M | Reduce -75.3% |
| OPENW Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 92,869 | $56K | No change |
| OPENL Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 92,869 | $23K | No change |
| OPENZ Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 79,421 | $19K | No change |
Total filed on the 13F, all lines: $3.0B.
Portfolio Sells Q4 2025 → Q1 2026
| IBIT iShares Bitcoin Trust ETF | Reduce -40.2% | 1.61% | −2.17 |
| EWC iShares MSCI Canada ETF | Sold out | 0.00% | −2.14 |
| META Meta Platforms Inc. Class A | Reduce -38.9% | 1.19% | −1.25 |
| EOSE Eos Energy Enterprises Inc. | Sold out | 0.00% | −1.01 |
| MCD McDonald's Corp. | Reduce -89.9% | 0.10% | −0.94 |
| UPS United Parcel Service Class B | Reduce -55.4% | 0.60% | −0.87 |
| BLOOM ENERGY CORP (BE 3 06/01/28) | Sold out | 0.00% | −0.83 |
| OIH Vaneck Oil Services ETF | Sold out | 0.00% | −0.67 |
| FXI iShares China Large-Cap ETF | Sold out | 0.00% | −0.63 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Reduce -73.8% | 0.21% | −0.59 |
| KWEB Kranesh Csi China Internet | Reduce -49.8% | 0.36% | −0.57 |
| VZ Verizon Communications Inc. | Reduce -93.9% | 0.04% | −0.53 |
| JPM JPMorgan Chase & Co. | Sold out | 0.00% | −0.48 |
| IREN Iren Ltd. | Sold out | 0.00% | −0.45 |
| AVGO Broadcom Inc. | Sold out | 0.00% | −0.43 |
| TER Teradyne Inc. | Reduce -85.8% | 0.10% | −0.42 |
| ADBE Adobe Inc. | Reduce -74.6% | 0.08% | −0.42 |
| SRLN SS Blackstone Sr Loan ETF | Sold out | 0.00% | −0.41 |
| BBIO Bridgebio Pharma Inc. | Sold out | 0.00% | −0.38 |
| GIS General Mills Inc. | Sold out | 0.00% | −0.38 |
| XOM Exxon Mobil Corp. | Sold out | 0.00% | −0.38 |
| CIFR Cipher Digital Inc. | Reduce -3.5% | 1.27% | −0.37 |
| MU Micron Technology Inc. | Reduce -32.5% | 0.99% | −0.36 |
| BCI Abrdn Bloomberg All Commodit | Sold out | 0.00% | −0.34 |
| CHKP Check Point Software Tech | Reduce -86.0% | 0.04% | −0.34 |
| ETN Eaton Corp. PLC | Sold out | 0.00% | −0.33 |
| CTAS Cintas Corp. | Sold out | 0.00% | −0.33 |
| ALL Allstate Corp. | Reduce -87.8% | 0.04% | −0.31 |
| NFLX Netflix Inc. | Reduce -11.9% | 1.51% | −0.30 |
| DG Dollar General Corp. | Reduce -90.2% | 0.03% | −0.30 |
| RL Ralph Lauren Corp. | Reduce -93.0% | 0.02% | −0.30 |
| UBER Uber Technologies Inc. | Reduce -86.2% | 0.04% | −0.29 |
| COF Capital One Financial Corp. | Reduce -30.9% | 0.26% | −0.28 |
| CMS CMS Energy Corp. | Reduce -67.8% | 0.13% | −0.27 |
| OPEN Opendoor Technologies Inc. | Reduce -10.6% | 0.52% | −0.27 |
| SPY SS SPDR S&P 500 ETF Trust-US | Sold out | 0.00% | −0.27 |
| T AT&T Inc. | Sold out | 0.00% | −0.26 |
| HD Home Depot Inc. | Reduce -40.5% | 0.29% | −0.26 |
| XHB SS SPDR S&P Homebldrs ETF | Reduce -53.0% | 0.18% | −0.26 |
| MELI MercadoLibre Inc. | Reduce -56.4% | 0.13% | −0.25 |
| HSAI Hesai Group | Sold out | 0.00% | −0.23 |
| AYI Acuity Inc. | Sold out | 0.00% | −0.22 |
| FLS Flowserve Corp. | Sold out | 0.00% | −0.22 |
| URI United Rentals Inc. | Sold out | 0.00% | −0.22 |
| MO Altria Group Inc. | Reduce -53.3% | 0.21% | −0.21 |
| VMC Vulcan Materials Co. | Sold out | 0.00% | −0.21 |
| SLB SLB Ltd. | Sold out | 0.00% | −0.20 |
| CMCSA Comcast Corp. Class A | Reduce -71.9% | 0.07% | −0.20 |
| XLV SS Health Care Select Sector | Reduce -45.3% | 0.18% | −0.20 |
| XOP SS SPDR S&P Og Exp & Prod | Sold out | 0.00% | −0.19 |
Portfolio Buys Q4 2025 → Q1 2026
| EWY iShares MSCI South Korea ETF | New | 2.02% | +2.02 |
| XLF SS Financial Select Sector | New | 1.47% | +1.47 |
| IWM iShares Russell 2000 ETF | New | 1.07% | +1.07 |
| AMZN Amazon.com Inc. | Add +65.3% | 3.85% | +1.05 |
| RSP Invesco S&P 500 Equal Weight | Add +205.9% | 1.56% | +1.01 |
| GOOG Alphabet Inc. Class C | Add +103.6% | 2.13% | +0.89 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Add +720.3% | 0.89% | +0.77 |
| EEM iShares MSCI Emerging Market | New | 0.75% | +0.75 |
| EWZ iShares MSCI Brazil ETF | Add +894.6% | 0.81% | +0.74 |
| BE Bloom Energy Corp. Class A | New | 0.72% | +0.72 |
| OKTA Okta Inc. | New | 0.71% | +0.71 |
| MA Mastercard Inc. Class A | New | 0.66% | +0.66 |
| EWW iShares MSCI Mexico ETF | Add +350.7% | 0.85% | +0.66 |
| C Citigroup Inc. | Add +61.4% | 2.00% | +0.62 |
| NET Cloudflare Inc. Class A | Add +1356.1% | 0.64% | +0.60 |
| SO The Southern Co. | New | 0.57% | +0.57 |
| SPOT Spotify Technology SA | Add +524.7% | 0.71% | +0.56 |
| GS Goldman Sachs Group Inc. | New | 0.53% | +0.53 |
| ORLY O'reilly Automotive Inc. | Add +976.5% | 0.53% | +0.48 |
| IVE iShares S&P 500 Value ETF | New | 0.46% | +0.46 |
| MAR Marriott International Class A | New | 0.44% | +0.44 |
| PANW Palo Alto Networks Inc. | New | 0.38% | +0.38 |
| PG The Procter & Gamble Co. | Add +78.6% | 0.93% | +0.37 |
| GDX Vaneck Gold Miners ETF | Add +340.0% | 0.46% | +0.35 |
| IQV Iqvia Holdings Inc. | New | 0.35% | +0.35 |
| CRM Salesforce Inc. | Add +100.3% | 1.42% | +0.33 |
| INTC Intel Corp. | Add +35.0% | 0.99% | +0.33 |
| ADI Analog Devices Inc. | Add +2388.1% | 0.34% | +0.32 |
| MET Metlife Inc. | Add +149.3% | 0.62% | +0.32 |
| KHC The Kraft Heinz Co. | New | 0.31% | +0.31 |
| TPR Tapestry Inc. | New | 0.31% | +0.31 |
| EMBJ Embraer SA-Spon ADR | Add +63.8% | 1.08% | +0.30 |
| PNW Pinnacle West Capital | New | 0.30% | +0.30 |
| ECL Ecolab Inc. | New | 0.30% | +0.30 |
| DT Dynatrace Inc. | New | 0.30% | +0.30 |
| REG Regency Centers Corp. | New | 0.29% | +0.29 |
| ROST Ross Stores Inc. | New | 0.29% | +0.29 |
| MS Morgan Stanley | New | 0.28% | +0.28 |
| NVDA Nvidia Corp. | Add +32.2% | 2.32% | +0.28 |
| CFG Citizens Financial Group | Add +266.4% | 0.38% | +0.27 |
| V Visa Inc. Class A | Add +96.2% | 0.75% | +0.27 |
| BBAI Bigbear.ai Holdings Inc. | New | 0.26% | +0.26 |
| D Dominion Energy Inc. | Add +602.1% | 0.30% | +0.26 |
| PEG Public Service Enterprise GP | Add +248.6% | 0.35% | +0.24 |
| DDOG Datadog Inc. Class A | Add +543.6% | 0.30% | +0.24 |
| AON Aon PLC Class A | New | 0.24% | +0.24 |
| PR Permian Resources Corp. Class A | Add +2345.6% | 0.24% | +0.23 |
| FE Firstenergy Corp. | Add +2101.7% | 0.24% | +0.23 |
| VENU Venu Holding Corp. | New | 0.23% | +0.23 |
| MDB Mongodb Inc. | Add +408.5% | 0.35% | +0.22 |
Options Activity Q4 2025 → Q1 2026
| MSTR Strategy Inc. | put | Sold out | 4,160,600 | $632.2Mbefore exit |
| IWM iShares Russell 2000 ETF | put | New | 1,270,400 | $315.1M |
| GDX Vaneck Gold Miners ETF | call | New | 2,320,000 | $212.9M |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | Add +502.7% | 2,410,900 | $191.8M |
| QQQ Invesco QQQ Trust Series 1 | put | Sold out | 190,000 | $116.7Mbefore exit |
| IBIT iShares Bitcoin Trust ETF | put | Add +7.7% | 2,328,800 | $89.5M |
| CLMT Calumet Inc. | put | Reduce -34.4% | 1,713,400 | $61.5M |
| FBTC Fidelity Wise Origin Bitcoin | put | Reduce -40.3% | 696,200 | $41.1M |
| GME Gamestop Corp. Class A | put | Add +0.0% | 1,675,300 | $38.6M |
| IWM iShares Russell 2000 ETF | call | New | 150,000 | $37.2M |
| LCID Lucid Group Inc. | put | Add +956.0% | 3,625,500 | $34.6M |
| BITO Proshares Bitcoin ETF-Usd | put | Sold out | 2,499,900 | $30.4Mbefore exit |
| KWEB Kranesh Csi China Internet | call | Sold out | 865,000 | $29.5Mbefore exit |
| PCT Purecycle Technologies Inc. | put | Add +29.0% | 3,365,700 | $17.5M |
| NVAX Novavax Inc. | put | Reduce -17.6% | 2,086,600 | $17.0M |
| CRM Salesforce Inc. | call | New | 87,500 | $16.3M |
| TLT iShares 20+ Year Treasury BD | put | Reduce -68.9% | 140,000 | $12.1M |
| QQQ Invesco QQQ Trust Series 1 | call | New | 20,000 | $11.5M |
| GLD SPDR Gold Shares | call | New | 25,000 | $10.8M |
| XLB SS Materials Select Sector | call | New | 206,000 | $10.3M |
| SPY SS SPDR S&P 500 ETF Trust-US | call | New | 10,000 | $6.5M |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | put | Sold out | 50,000 | $5.5Mbefore exit |
| DAL Delta Air Lines Inc. | call | New | 75,000 | $5.0M |
| WFC Wells Fargo & Co. | put | New | 50,000 | $4.0M |
| TLRY Tilray Brands Inc. | call | Sold out | 405,400 | $3.7Mbefore exit |
| COF Capital One Financial Corp. | call | New | 20,000 | $3.6M |
| GRPN Groupon Inc. | put | Sold out | 189,000 | $3.3Mbefore exit |
| DT Dynatrace Inc. | call | New | 75,000 | $2.8M |
| MSFT Microsoft Corp. | call | New | 7,000 | $2.6M |
| VRSN Verisign Inc. | call | New | 10,000 | $2.5M |
| ADBE Adobe Inc. | call | New | 10,000 | $2.4M |
| OKTA Okta Inc. | call | New | 30,000 | $2.4M |
| MOS The Mosaic Co. | call | New | 90,000 | $2.3M |
| AMZN Amazon.com Inc. | call | New | 10,800 | $2.2M |
| KNX Knight-Swift Transportation | call | New | 37,700 | $2.2M |
| RBLX Roblox Corp. Class A | call | Sold out | 25,000 | $2.0Mbefore exit |
| TSLA Tesla Inc. | call | Sold out | 4,500 | $2.0Mbefore exit |
| NVDA Nvidia Corp. | call | New | 10,000 | $1.7M |
| ORCL Oracle Corp. | call | Add +81.8% | 10,000 | $1.5M |
| SMLR Semler Scientific Inc. | put | Sold out | 85,300 | $1.3Mbefore exit |
| OWL Blue Owl Capital Inc. | call | New | 140,000 | $1.3M |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Add +100.0% | 40,000 | $1.3M |
| TWLO Twilio Inc. Class A | call | New | 10,000 | $1.3M |
| PLTR Palantir Technologies Inc. Class A | put | Sold out | 7,000 | $1.2Mbefore exit |
| ACN Accenture PLC Class A | call | New | 5,000 | $991K |
| ONDS Ondas Inc. | call | Sold out | 100,000 | $976Kbefore exit |
| UNH Unitedhealth Group Inc. | call | New | 3,600 | $974K |
| SLB SLB Ltd. | call | Sold out | 25,000 | $960Kbefore exit |
| SPCE Virgin Galactic Holdings Inc. | put | Sold out | 234,700 | $753Kbefore exit |
| BA The Boeing Co. | put | New | 3,500 | $697K |
Showing the first 50 of 53.
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2025 → Q1 2026
| APPLIED DIGITAL CORP (APLD 2.75 06/01/30) | NOTE 2.750% 6/0 · principal | Reduce -43.0% | 36,338,000 | $96.5M |
| SUNRUN INC (RUN 4 03/01/30) | NOTE 4.000% 3/0 · principal | Reduce -3.8% | 50,940,000 | $60.7M |
| TILRAY BRANDS INC (TLRY 5.2 06/15/27) | NOTE 5.200% 6/1 · principal | Reduce -0.8% | 59,000,000 | $59.7M |
| THE REALREAL INC (REAL 4 02/15/31) | DEBT 4.000% 2/1 · principal | Add +16.6% | 41,375,000 | $49.5M |
| RAMACO RESOURCES INC (METC 0 11/01/31) | NOTE 11/0 · principal | Add +19.0% | 56,300,000 | $43.2M |
| CLEANSPARK INC (CLSK 0 06/15/30) | NOTE 6/1 · principal | Reduce -14.5% | 29,519,000 | $28.7M |
| TRAVERE THERAPEUTICS INC (TVTX 2.25 03/01/29) | NOTE 2.250% 3/0 · principal | New | 16,872,000 | $21.4M |
| GREEN PLAINS INC (GPRE 2.25 03/15/27) | NOTE 2.250% 3/1 · principal | Add +213.0% | 19,175,000 | $19.3M |
| SOLARIS ENERGY INFRASTRU (SEI 0.25 10/01/31) | NOTE 0.250%10/0 · principal | Reduce -27.4% | 13,233,000 | $16.6M |
| MARA HOLDINGS INC (MARA 0 03/01/30) | NOTE 3/0 · principal | Reduce -52.8% | 17,000,000 | $15.1M |
| APPLIED OPTOELECTRONICS INC | NOTE 2.750% 1/1 · principal | Reduce -71.7% | 6,534,000 | $14.6M |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | NOTE 5.500% 3/1 · principal | Reduce -71.2% | 5,948,000 | $5.9M |
| ZENAS BIOPHARMA INC (ZBIO 2.5 04/01/32) | NOTE 2.500% 4/0 · principal | New | 2,500,000 | $2.6M |
| BEYOND MEAT INC (BYND 7 10/15/30) | DEBT 10/1 · principal | Reduce -75.3% | 1,970,000 | $1.2M |
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 |