Graham Capital Management, L.P. 13F holdings, Q2 2025
Holdings as of June 30, 2025 · filings on SEC EDGAR · latest filing →
Graham Capital Management, L.P. disclosed 1220 US equity positions worth $3.3bn in its Q2 2025 13F filing. The largest position was PERMIAN RES OPER LLC at 4.9% of the reported book, followed by IBIT and COIN. Against the Q1 2025 filing, it opened 7 new positions, added to 26 and reduced 14 among the top 50 holdings.
What did Graham Capital Management, L.P. own in Q2 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q1 2025 |
|---|---|---|---|---|---|---|---|
| 1 | PERMIAN RES OPER LLC | 4.9% | $161.8m | 66,551,000 | -1% | reduced | |
| 2 | IBIT ISHARES BITCOIN TRUST ETF | 4.8% | $156.4m | 2,555,708 | 16% | added | |
| 3 | COIN COINBASE GLOBAL INC | 2.7% | $87.4m | 75,500,000 | 0% | held | |
| 4 | PURECYCLE TECHNOLOGIES INC | 2.3% | $77.2m | 62,567,000 | 54% | added | |
| 5 | NVAX NOVAVAX INC | 2.3% | $74.8m | 74,177,000 | 9% | added | |
| 6 | BBIO BRIDGEBIO PHARMA INC | 2.2% | $72.8m | 58,241,000 | 4% | added | |
| 7 | BE BLOOM ENERGY CORP | 1.9% | $63.4m | 44,760,000 | – | new | |
| 8 | TILRAY BRANDS INC | 1.7% | $54.7m | 59,500,000 | -8% | reduced | |
| 9 | RIVIAN AUTOMOTIVE INC | 1.6% | $53.8m | 59,794,000 | -14% | reduced | |
| 10 | BLOOM ENERGY CORP | 1.6% | $53.7m | 36,170,000 | 0% | held | |
| 11 | XLU SELECT SECTOR SPDR TR | 1.3% | $41.4m | 506,950 | 43% | added | |
| 12 | TVTX TRAVERE THERAPEUTICS INC | 1.2% | $39.7m | 41,667,000 | 101% | added | |
| 13 | GREEN PLAINS INC | 1.1% | $36.8m | 43,053,000 | 14% | added | |
| 14 | ECHOSTAR CORP | 1.0% | $32.2m | 27,423,468 | -17% | reduced | |
| 15 | TRANSOCEAN INC | 0.8% | $27.8m | 26,691,000 | -32% | reduced | |
| 16 | AMZN AMAZON COM INC | Consumer Cyclical | 0.8% | $25.6m | 116,754 | 62% | added |
| 17 | PEABODY ENGR CORP | 0.8% | $25.3m | 24,510,000 | -17% | reduced | |
| 18 | CME CME GROUP INC | Financial Services | 0.7% | $24.1m | 87,349 | 16% | added |
| 19 | SUNRUN INC | 0.7% | $22.5m | 31,529,000 | – | new | |
| 20 | META META PLATFORMS INC | Communication Services | 0.7% | $22.4m | 30,351 | -12% | reduced |
| 21 | DG DOLLAR GEN CORP NEW | Consumer Defensive | 0.7% | $22.3m | 195,389 | 43% | added |
| 22 | BLACKSTONE MORTGAGE TRUST IN | 0.6% | $20.4m | 20,888,000 | 31% | added | |
| 23 | VTV VANGUARD INDEX FDS | 0.6% | $19.4m | 110,000 | – | new | |
| 24 | NVDA NVIDIA CORPORATION | Technology | 0.6% | $19.4m | 122,737 | -3% | reduced |
| 25 | BSX BOSTON SCIENTIFIC CORP | Healthcare | 0.6% | $19.3m | 180,075 | 223% | added |
| 26 | BA BOEING CO | Industrials | 0.6% | $19.1m | 90,924 | 9% | added |
| 27 | CIFR CIPHER MINING INC | 0.6% | $19.0m | 14,765,000 | – | new | |
| 28 | MELI MERCADOLIBRE INC | Consumer Cyclical | 0.6% | $18.6m | 7,127 | -1% | reduced |
| 29 | ICE INTERCONTINENTAL EXCHANGE IN | Financial Services | 0.5% | $16.3m | 88,878 | 1949% | added |
| 30 | CAT CATERPILLAR INC | Industrials | 0.5% | $15.8m | 40,582 | 1238% | added |
| 31 | SPY SPDR S&P 500 ETF TR | 0.5% | $15.5m | 25,152 | 137% | added | |
| 32 | EEM ISHARES TR | 0.5% | $15.4m | 318,425 | – | new | |
| 33 | MNST MONSTER BEVERAGE CORP NEW | Consumer Defensive | 0.4% | $13.6m | 217,471 | – | new |
| 34 | NU NU HLDGS LTD | Financial Services | 0.4% | $13.6m | 991,909 | -22% | reduced |
| 35 | BX BLACKSTONE INC | Financial Services | 0.4% | $13.4m | 89,723 | 122% | added |
| 36 | ADI ANALOG DEVICES INC | Technology | 0.4% | $13.3m | 55,753 | – | new |
| 37 | SCHW SCHWAB CHARLES CORP | Financial Services | 0.4% | $12.8m | 140,487 | 651% | added |
| 38 | GOOG ALPHABET INC | Communication Services | 0.4% | $12.7m | 71,676 | -5% | reduced |
| 39 | MU MICRON TECHNOLOGY INC | Technology | 0.4% | $12.6m | 102,266 | -0% | held |
| 40 | NFLX NETFLIX INC | Communication Services | 0.4% | $12.5m | 9,349 | -9% | reduced |
| 41 | CVX CHEVRON CORP NEW | Energy | 0.4% | $12.4m | 86,618 | 2339% | added |
| 42 | CSCO CISCO SYS INC | Technology | 0.4% | $11.9m | 171,050 | -15% | reduced |
| 43 | EWJ ISHARES INC | 0.4% | $11.9m | 158,200 | 113% | added | |
| 44 | LRCX LAM RESEARCH CORP | Technology | 0.4% | $11.7m | 120,407 | 27% | added |
| 45 | OKTA OKTA INC | Technology | 0.4% | $11.5m | 115,245 | 135% | added |
| 46 | ED CONSOLIDATED EDISON INC | Utilities | 0.3% | $11.3m | 112,361 | 93% | added |
| 47 | EMBJ EMBRAER S.A. | Industrials | 0.3% | $11.3m | 197,701 | -13% | reduced |
| 48 | VEEV VEEVA SYS INC | Healthcare | 0.3% | $10.6m | 36,925 | 224% | added |
| 49 | THE REALREAL INC | 0.3% | $10.3m | 13,008,000 | 8% | added | |
| 50 | ETHA ISHARES ETHEREUM TR | 0.3% | $10.0m | 525,000 | 27% | added |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.