Graham Capital Management, L.P.

New Gamestop position and exited HYG in Q2 2026.

$5.5B in this filing1222 positionstop 10 = 35%

Holdings are from Jun 30, 2026, not today. Filed Aug 14, 2026. Next filing due ~Nov 14, 2026 - a fund that has since had a bad quarter will not show it here until then.

Spot holdings1160 positions - $3.7B

• 1GGamestop Corp4.02%
  $150.1M - 147.6M sharesNEW

#	Stock	% of bucket	Value	Shares	Change	At Jun 30	Now	Market cap	P/E
1	GGamestop Corp	4.02%	$150.1M	147.6M	NEW	$1.02	-	-	-

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

• 1IIWM putsiShares TR53.50%
  $943.0M - 3.1M shares+1.9M
• 2GGDX callsVanEck Etf Trust10.75%
  $189.5M - 2.5M shares+192K

#	Stock	% of bucket	Value	Shares	Change	At Jun 30	Now	Market cap	P/E
1	IIWM putsiShares TR	53.50%	$943.0M	3.1M	+1.9M	$300.45	-	-	-
2	GGDX callsVanEck Etf Trust	10.75%	$189.5M	2.5M	+192K	$75.45	-	-	-