Fund HoldingsGraham Capital Management, L.P.

Total Portfolio Value
$4.18B
Total Bought
$1.22B
Total Sold
$3.27B
Net Transaction
-$2.06B
Filing Period:
Securities
SharesValue ($K)
Q3 2025
Q4 2025
Change
Q3 2025
Q4 2025
Weight (%)
Change
APPLIED DIGITAL CORP(APLD)0000171,7024.11%+171,702
SUNRUN INC(RUN)000074,9281.79%+74,928
PURECYCLE TECHNOLOGIES INC(PCT)000068,9041.65%+68,904
RIVIAN AUTOMOTIVE INC(RIVN)000067,1061.61%+67,106
GREEN PLAINS INC(GPRE)000061,4031.47%+61,403
TILRAY BRANDS INC000060,8541.46%+60,854
THE REALREAL INC(REAL)000060,2461.44%+60,246
GROUPON INC(GRPN)000058,2151.39%+58,215
BRIDGEBIO PHARMA INC(BBIO)000041,9861.00%+41,986
RAMACO RES INC000040,0370.96%+40,037
ISHARES INC129,000806,849+677,8496,52143,5131.04%+36,992
CLEANSPARK INC(CLSK)000035,7720.86%+35,772
CIPHER MINING INC(CIFR)02,258,042+2,258,042033,3290.80%+33,329
NETFLIX INC(NFLX)0393,923+393,923036,9340.88%+36,934
ISHARES TR(Put)0450,000+450,000039,222+39,222
KRANESHARES TRUST(Call)0865,000+865,000029,453+29,453
MARA HOLDINGS INC(MARA)000028,4420.68%+28,442
UNITED PARCEL SERVICE INC(UPS)0301,414+301,414029,8970.72%+29,897
APPLIED OPTOELECTRONICS INC(AAOI)000026,5100.63%+26,510
NVIDIA CORPORATION(NVDA)0222,279+222,279041,4550.99%+41,455
META PLATFORMS INC(META)39,65375,237+35,58429,12049,6631.19%+20,543
EOS ENERGY ENTERPRISES INC(EOSE)01,791,515+1,791,515020,5310.49%+20,531
BLACKSTONE MORTGAGE TRUST IN(BXMT)000020,4830.49%+20,483
AMAZON COM INC(AMZN)166,698246,872+80,17436,60256,9831.36%+20,381
SOLARIS ENERGY INFRAS INC(SEI)000019,7520.47%+19,752
BLOOM ENERGY CORP(BE)0194,563+194,563016,9060.40%+16,906
CITIGROUP INC(C)111,703241,094+129,39111,33828,1330.67%+16,795
SALESFORCE INC(CRM)083,752+83,752022,1870.53%+22,187
OPENDOOR TECHNOLOGIES INC(OPEN)02,768,208+2,768,208016,1390.39%+16,139
SELECT SECTOR SPDR TR
ST STR UTIL ETF
0377,830+377,830016,1300.39%+16,130
MCDONALDS CORP(MCD)19,67168,737+49,0665,97821,0080.50%+15,030
VANECK ETF TRUST
OIL SERVICES ETF
048,000+48,000013,6690.33%+13,669
INTEL CORP(INTC)0367,124+367,124013,5470.32%+13,547
MICRON TECHNOLOGY INC(MU)096,114+96,114027,4320.66%+27,432
T1 ENERGY INC(TE)000013,4100.32%+13,410
ALPHABET INC(GOOG)080,654+80,654025,3090.61%+25,309
FIRST SOLAR INC(FSLR)59,60098,074+38,47413,14425,6200.61%+12,476
KRANESHARES TRUST163,169555,390+392,2216,85518,9110.45%+12,056
VERIZON COMMUNICATIONS INC(VZ)0284,227+284,227011,5770.28%+11,577
CAPITAL ONE FINL CORP(COF)044,664+44,664010,8250.26%+10,825
AUTOMATIC DATA PROCESSING IN039,971+39,971010,2820.25%+10,282
TJX COS INC NEW(TJX)065,468+65,468010,0570.24%+10,057
PROCTER AND GAMBLE CO(PG)079,619+79,619011,4100.27%+11,410
GREEN PLAINS INC(GPRE)00009,8460.24%+9,846
IREN LIMITED
ORDINARY SHARES
0242,729+242,72909,1680.22%+9,168
SPDR SERIES TRUST
ST STR SP HOME
087,200+87,20008,9780.21%+8,978
BOEING CO(BA)0118,056+118,056025,6320.61%+25,632
ISHARES TR082,500+82,50008,7190.21%+8,719
SSGA ACTIVE ETF TR
ST STR BL LN ETF
0200,000+200,00008,2540.20%+8,254
IDEX CORP(IEX)047,105+47,10508,3820.20%+8,382
BROADCOM INC(AVGO)025,000+25,00008,6530.21%+8,653
SELECT SECTOR SPDR TR
ST STR CARE ETF
049,500+49,50007,6630.18%+7,663
ABRDN ETFS0350,000+350,00006,8360.16%+6,836
EATON CORP PLC(ETN)021,042+21,04206,7020.16%+6,702
MICROSOFT CORP(MSFT)10,00524,483+14,4785,18211,8400.28%+6,658
BEYOND MEAT INC00006,1450.15%+6,145
METLIFE INC(MET)077,510+77,51006,1190.15%+6,119
SABRE CORP04,451,200+4,451,20006,0540.14%+6,054
PRUDENTIAL FINL INC(PFH)052,320+52,32005,9060.14%+5,906
GREEN PLAINS INC(GPRE)00005,8830.14%+5,883
CHECK POINT SOFTWARE TECH LT
ORD
040,770+40,77007,5650.18%+7,565
CATERPILLAR INC(CAT)010,000+10,00005,7290.14%+5,729
RALPH LAUREN CORP(RL)018,178+18,17806,4280.15%+6,428
WALMART INC(WMT)064,020+64,02007,1320.17%+7,132
CANADIAN NATL RY CO(CNI)059,880+59,88005,9190.14%+5,919
ISHARES TR(Put)050,000+50,00005,510+5,510
CINTAS CORP(CTAS)035,285+35,28506,6360.16%+6,636
NATERA INC(NTRA)025,747+25,74705,8980.14%+5,898
ADOBE INC(ADBE)028,824+28,824010,0880.24%+10,088
REPUBLIC SVCS INC(RSG)023,100+23,10004,8960.12%+4,896
STARBUCKS CORP(SBUX)061,493+61,49305,1780.12%+5,178
HESAI GROUP(HSAI)0204,871+204,87104,5890.11%+4,589
FLOWSERVE CORP(FLS)065,494+65,49404,5440.11%+4,544
RTX CORPORATION(RTX)030,890+30,89005,6650.14%+5,665
ISHARES TR201,000333,000+132,0008,26912,7510.31%+4,481
AT&T INC(T)0215,797+215,79705,3600.13%+5,360
FEDEX CORP(FDX)015,224+15,22404,3980.11%+4,398
FORTIVE CORP(FTV)077,318+77,31804,2690.10%+4,269
SELECT SECTOR SPDR TR
ST STR INDL ETF
027,500+27,50004,2660.10%+4,266
RALLIANT CORP(RAL)083,512+83,51204,2520.10%+4,252
CALUMET INC(CLMT)(Put)2,610,1002,610,100047,63451,863+4,228
VULCAN MATLS CO(VMC)014,750+14,75004,2070.10%+4,207
EMBRAER S.A.(EMBJ)0245,272+245,272015,7880.38%+15,788
SLB LIMITED(SLB)0105,000+105,00004,0300.10%+4,030
SPDR SERIES TRUST
SP O&G EXPL PRO
031,150+31,15003,9330.09%+3,933
RELX PLC(RELX)096,787+96,78703,9120.09%+3,912
CENCORA INC021,715+21,71507,3340.18%+7,334
ISHARES INC055,000+55,00003,8130.09%+3,813
TRANSDIGM GROUP INC(TDG)02,800+2,80003,7240.09%+3,724
EMERSON ELEC CO(EMR)027,900+27,90003,7030.09%+3,703
DOVER CORP(DOV)018,900+18,90003,6900.09%+3,690
TILRAY BRANDS INC(Call)0405,400+405,40003,661+3,661
VISA INC(V)18,27928,032+9,7536,2409,8310.24%+3,591
ISHARES TR030,400+30,40003,3410.08%+3,341
3M CO(MMM)020,585+20,58503,2960.08%+3,296
HOME DEPOT INC(HD)19,40032,408+13,0087,86111,1520.27%+3,291
TILRAY BRANDS INC0359,540+359,54003,2470.08%+3,247
AMERICAN ELEC PWR CO INC027,955+27,95503,2230.08%+3,223
TOPBUILD CORP07,533+7,53303,1430.08%+3,143
RESMED INC(RMD)021,477+21,47705,1730.12%+5,173
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