Graham Capital Management, L.P. is an institutional investment manager that files quarterly 13F reports with the SEC. As of Q4 2025, the fund manages $4.2B in reported equity holdings across 1174 positions. The largest holdings are MSTR (15.1%), IBIT (4.4%), APLD (4.1%), IWM (2.8%), FBTC (2.1%). The portfolio is concentrated in Other (74.8%), Technology (15.7%), Financial Services (2.3%). Data sourced from SEC EDGAR 13F filings (CIK 1315421).