GMT Capital Corp
Long book
$2.19B
Q1 2026
Positions
77
Top-10 weight
66%
concentration
Last quarter
+17.1%
SPY +14.8%
Turnover
65%
of book per quarter
Strategy in plain words
auto-generated from filingsGMT Capital Corp is a diversified fundamental manager, running a $2.19B US long book across 77 positions.
The portfolio is concentrated: the top 10 names carry 66% of the portfolio. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: HUDBAY MINERALS INC, DELTA AIR LINES INC, JAZZ PHARMACEUTICALS PLC, ERO COPPER CORP, UNITED AIRLINES HOLDINGS INC.
Over the last 9 quarters its long book ran on average 1.7pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+0.2%
Q2 2024
+5.4%
Q3 2024
-0.3%
Q4 2024
-4.9%
Q1 2025
+13.8%
Q2 2025
+15.2%
Q3 2025
+11.3%
Q4 2025
-2.2%
Q1 2026
+17.1%
Sector allocation
Materials 32%
Industrials 18%
Technology 17%
Services media 11%
Consumer discretionary 9%
Healthcare 7%
Real estate 3%
Utilities 1%
Long book by quarter
What does GMT Capital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| HBM HUDBAY MINERALS INC | Materials | 21.9M | $457.2M | 20.9% | -11.1% |
| DAL DELTA AIR LINES INC | Industrials | 4.4M | $294.0M | 13.4% | -0.8% |
| JAZZ JAZZ PHARMACEUTICALS PLC | Healthcare | 581.0K | $109.8M | 5.0% | -9.0% |
| ERO ERO COPPER CORP | Materials | 3.7M | $97.0M | 4.4% | -18.3% |
| UAL UNITED AIRLINES HOLDINGS INC | Industrials | 968.7K | $89.2M | 4.1% | +5.2% |
| AGI ALAMOS GOLD INC-CLASS A | Materials | 2.0M | $86.7M | 4.0% | -2.6% |
| TNL TRAVEL + LEISURE CO | Services media | 1.2M | $84.7M | 3.9% | -12.2% |
| GOOG ALPHABET INC-CL C | Technology | 290.7K | $83.4M | 3.8% | -9.0% |
| BBWI BATH & BODY WORKS INC | Consumer discretionary | 4.2M | $77.9M | 3.6% | +28.1% |
| GOOGL ALPHABET INC-CL A | Technology | 232.2K | $66.8M | 3.0% | Held |
| VAC MARRIOTT VACATIONS WORLD | Real estate | 1.0M | $66.6M | 3.0% | New |
| FIS FIDELITY NATIONAL INFO SERV | Services media | 1.4M | $66.0M | 3.0% | New |
| AMZN AMAZON.COM INC | Consumer discretionary | 270.6K | $56.4M | 2.6% | New |
| SSNC SS&C TECHNOLOGIES HOLDINGS | Technology | 705.5K | $47.7M | 2.2% | +0.3% |
| OMC OMNICOM GROUP | Services media | 629.3K | $47.4M | 2.2% | New |
| CBRL CRACKER BARREL OLD COUNTRY | Consumer discretionary | 1.6M | $44.7M | 2.0% | -29.0% |
| MSFT MICROSOFT CORP | Technology | 114.5K | $42.4M | 1.9% | New |
| KD KYNDRYL HOLDINGS INC | Technology | 2.9M | $38.6M | 1.8% | +52.3% |
| GLOB GLOBANT SA | Technology | 682.8K | $31.5M | 1.4% | New |
| VST VISTRA CORP | Utilities | 174.9K | $26.3M | 1.2% | New |
| MGM MGM RESORTS INTERNATIONAL | Services media | 525.7K | $19.5M | 0.9% | -32.6% |
| FSLY FASTLY INC - CLASS A | Technology | 598.8K | $17.4M | 0.8% | New |
| TFX TELEFLEX INC | Healthcare | 134.6K | $16.1M | 0.7% | New |
| EQX EQUINOX GOLD CORP | Materials | 1.1M | $16.1M | 0.7% | Held |
| ODV OSISKO DEVELOPMENT CORP | Materials | 3.1M | $10.2M | 0.5% | -43.1% |
| OVV OVINTIV INC | Energy | 169.9K | $10.1M | 0.5% | New |
| COF CAPITAL ONE FINANCIAL CORP | Financials | 50.8K | $9.3M | 0.4% | New |
| UBER UBER TECHNOLOGIES INC | Services media | 102.4K | $7.4M | 0.3% | -50.1% |
| OCGN OCUGEN INC | Healthcare | 3.5M | $6.3M | 0.3% | New |
| RHI ROBERT HALF INC | Services media | 243.8K | $6.2M | 0.3% | New |
| CINT CI&T INC/UNITED STATES-A | Technology | 1.2M | $6.2M | 0.3% | +176.4% |
| EA ELECTRONIC ARTS INC | Technology | 23.3K | $4.8M | 0.2% | Held |
| C CITIGROUP INC | Financials | 36.5K | $4.1M | 0.2% | -43.8% |
| MOS MOSAIC CO/THE | Other | 154.7K | $3.9M | 0.2% | -83.6% |
| ORCL ORACLE CORP | Technology | 26.5K | $3.9M | 0.2% | New |
| RIOT RIOT PLATFORMS INC | Financials | 308.6K | $3.8M | 0.2% | -60.6% |
| TRVI TREVI THERAPEUTICS INC | Healthcare | 317.7K | $3.8M | 0.2% | New |
| AMSC AMERICAN SUPERCONDUCTOR CORP | Industrials | 108.1K | $3.7M | 0.2% | New |
| CIEN CIENA CORP | Technology | 9.4K | $3.7M | 0.2% | New |
| UA UNDER ARMOUR INC-CLASS C | Other | 617.9K | $3.6M | 0.2% | New |
| PGEN PRECIGEN INC | Healthcare | 668.8K | $2.6M | 0.1% | New |
| UAA UNDER ARMOUR INC-CLASS A | Other | 435.8K | $2.6M | 0.1% | New |
| TDUP THREDUP INC - CLASS A | Consumer discretionary | 701.6K | $2.3M | 0.1% | New |
| CLOV CLOVER HEALTH INVESTMENTS CO | Financials | 1.3M | $2.3M | 0.1% | New |
| RUN SUNRUN INC | Technology | 167.9K | $2.3M | 0.1% | New |
| ETSY ETSY INC | Services media | 42.4K | $2.1M | 0.1% | New |
| SMCI SUPER MICRO COMPUTER INC | Technology | 92.7K | $2.1M | 0.1% | New |
| CLNE CLEAN ENERGY FUELS CORP | Utilities | 767.8K | $1.9M | 0.1% | New |
| KODK EASTMAN KODAK CO | Other | 200.0K | $1.8M | 0.1% | -79.6% |
| AMC AMC ENTERTAINMENT HLDS-CL A | Services media | 1.8M | $1.8M | 0.1% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 77 | $2.19B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 38 | $1.92B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 68 | $2.21B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 71 | $2.39B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 69 | $1.88B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 56 | $2.05B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 72 | $2.51B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 68 | $2.71B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 13, 2024 | 53 | $2.54B | canonical | SEC ↗ |
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