Graham Capital Management, L.P.

Kenneth Tropin

New Gamestop and exited HYG in Q2 2026.

$5.5B in this filing1222 positions

Holdings as of Jun 30, 2026. Filed Aug 14, 2026.

Stocks and funds

1Gamestop Corp4.02%
$150.1M - 147.6M sharesNEW

#	Stock				At Jun 30	Now
1	Gamestop Corp	4.02%	$150.1M	NEW	$1.02	-

Options positions62 positions (26 puts, 36 calls) - $1.8B. Priced off the underlying stock - 13F never discloses strike or premium.

1IWM putsiShares TR53.50%
$943.0M - 3.1M shares+147.1%
2GDX callsVanEck Etf Trust10.75%
$189.5M - 2.5M shares+8.3%

#	Stock				At Jun 30	Now
1	IWM putsiShares TR	53.50%	$943.0M	+147.1%	$300.45	-
2	GDX callsVanEck Etf Trust	10.75%	$189.5M	+8.3%	$75.45	-

1,219 more on a paid plan

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What is missing

Top 10 concentration: 35%. This filing does not include cash, short positions, private investments, bonds, or many overseas holdings. Next filing due ~Nov 14, 2026.

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