Graham Capital Management, L.P. 13F holdings, Q3 2025
Holdings as of September 30, 2025 · filings on SEC EDGAR · latest filing →
Graham Capital Management, L.P. disclosed 1161 US equity positions worth $2.7bn in its Q3 2025 13F filing. The largest position was BE at 7.9% of the reported book, followed by BLOOM ENERGY CORP and IBIT. Against the Q2 2025 filing, it opened 10 new positions, added to 20 and reduced 16 among the top 50 holdings.
What did Graham Capital Management, L.P. own in Q3 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q2 2025 |
|---|---|---|---|---|---|---|---|
| 1 | BE BLOOM ENERGY CORP | 7.9% | $213.7m | 51,510,000 | 15% | added | |
| 2 | BLOOM ENERGY CORP | 6.1% | $164.2m | 36,170,000 | 0% | held | |
| 3 | IBIT ISHARES BITCOIN TRUST ETF | 5.6% | $150.3m | 2,312,412 | -10% | reduced | |
| 4 | PURECYCLE TECHNOLOGIES INC | 2.8% | $75.2m | 62,567,000 | 0% | held | |
| 5 | TILRAY BRANDS INC | 2.5% | $68.6m | 58,500,000 | -2% | reduced | |
| 6 | SUNRUN INC | 2.4% | $63.5m | 47,058,000 | 49% | added | |
| 7 | GDX VANECK ETF TRUST | 2.3% | $62.1m | 812,500 | 712% | added | |
| 8 | XLU SELECT SECTOR SPDR TR | 2.1% | $55.4m | 635,206 | 25% | added | |
| 9 | RIVIAN AUTOMOTIVE INC | 2.0% | $55.1m | 59,794,000 | 0% | held | |
| 10 | GREEN PLAINS INC | 1.6% | $43.9m | 45,759,000 | 6% | added | |
| 11 | GROUPON INC | 1.5% | $39.2m | 42,088,000 | – | new | |
| 12 | AMZN AMAZON COM INC | Consumer Cyclical | 1.4% | $36.6m | 166,698 | 43% | added |
| 13 | BBIO BRIDGEBIO PHARMA INC | 1.3% | $36.2m | 25,741,000 | -56% | reduced | |
| 14 | VTV VANGUARD INDEX FDS | 1.2% | $32.8m | 176,000 | 60% | added | |
| 15 | META META PLATFORMS INC | Communication Services | 1.1% | $29.1m | 39,653 | 31% | added |
| 16 | GROUPON INC | 1.0% | $26.4m | 28,383,000 | – | new | |
| 17 | THE REALREAL INC | 1.0% | $25.9m | 20,124,000 | 55% | added | |
| 18 | TVTX TRAVERE THERAPEUTICS INC | 0.9% | $25.1m | 22,238,000 | -47% | reduced | |
| 19 | XLI SELECT SECTOR SPDR TR | 0.9% | $24.7m | 160,102 | 513% | added | |
| 20 | CME CME GROUP INC | Financial Services | 0.8% | $20.7m | 76,694 | -12% | reduced |
| 21 | BLACKSTONE MORTGAGE TRUST IN | 0.8% | $20.4m | 20,638,000 | -1% | reduced | |
| 22 | NVDA NVIDIA CORPORATION | Technology | 0.7% | $17.7m | 94,838 | -23% | reduced |
| 23 | BA BOEING CO | Industrials | 0.6% | $16.8m | 77,618 | -15% | reduced |
| 24 | ETHA ISHARES ETHEREUM TR | 0.6% | $16.6m | 526,904 | 0% | held | |
| 25 | BBIO BRIDGEBIO PHARMA INC | Healthcare | 0.5% | $14.4m | 278,128 | 1019% | added |
| 26 | IWM ISHARES TR | 0.5% | $14.1m | 58,400 | – | new | |
| 27 | MU MICRON TECHNOLOGY INC | Technology | 0.5% | $13.9m | 83,365 | -18% | reduced |
| 28 | EWY ISHARES INC | 0.5% | $13.2m | 165,220 | – | new | |
| 29 | FSLR FIRST SOLAR INC | Technology | 0.5% | $13.1m | 59,600 | 3873% | added |
| 30 | TER TERADYNE INC | Technology | 0.5% | $12.9m | 93,830 | – | new |
| 31 | GOOG ALPHABET INC | Communication Services | 0.5% | $12.4m | 50,783 | -29% | reduced |
| 32 | RSP INVESCO EXCHANGE TRADED FD T | 0.5% | $12.3m | 65,000 | 35% | added | |
| 33 | BYND BEYOND MEAT INC | 0.5% | $12.3m | 60,730,000 | – | new | |
| 34 | DG DOLLAR GEN CORP NEW | Consumer Defensive | 0.4% | $11.9m | 115,000 | -41% | reduced |
| 35 | EMBJ EMBRAER S.A. | Industrials | 0.4% | $11.6m | 192,272 | -3% | reduced |
| 36 | MELI MERCADOLIBRE INC | Consumer Cyclical | 0.4% | $11.6m | 4,967 | -30% | reduced |
| 37 | XLF SELECT SECTOR SPDR TR | 0.4% | $11.5m | 214,000 | – | new | |
| 38 | C CITIGROUP INC | Financial Services | 0.4% | $11.3m | 111,703 | 137% | added |
| 39 | KO COCA COLA CO | Consumer Defensive | 0.4% | $11.2m | 168,950 | 44% | added |
| 40 | TVTX TRAVERE THERAPEUTICS INC | Healthcare | 0.4% | $11.2m | 466,998 | – | new |
| 41 | SPY SPDR S&P 500 ETF TR | 0.4% | $10.4m | 15,650 | -38% | reduced | |
| 42 | EXMOC EXXON MOBIL CORP | 0.4% | $10.1m | 89,812 | – | new | |
| 43 | UBER UBER TECHNOLOGIES INC | Technology | 0.4% | $10.0m | 101,823 | 5% | added |
| 44 | CMS CMS ENERGY CORP | Utilities | 0.4% | $9.5m | 130,276 | -10% | reduced |
| 45 | BX BLACKSTONE INC | Financial Services | 0.3% | $9.4m | 55,260 | -38% | reduced |
| 46 | MO ALTRIA GROUP INC | Consumer Defensive | 0.3% | $9.4m | 141,853 | 269% | added |
| 47 | LNG CHENIERE ENERGY INC | Energy | 0.3% | $9.1m | 38,707 | 38% | added |
| 48 | EZA ISHARES INC | 0.3% | $8.9m | 139,545 | – | new | |
| 49 | CMCSA COMCAST CORP NEW | Communication Services | 0.3% | $8.7m | 275,411 | 28% | added |
| 50 | GIS GENERAL MLS INC | Consumer Defensive | 0.3% | $8.4m | 165,839 | 197% | 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.