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GMT Capital Portfolio holdings

AUM $2.19B
1-Year Est. Return 72.3%
This Fund
S&P 500
This Quarter Est. Return
+22.1%
1 Year Est. Return
+72.3%
3 Year Est. Return
+172.46%
5 Year Est. Return
+183.05%
10 Year Est. Return
+942.8%
AUM
$2.21B
AUM Growth
-$183M
Cap. Flow
-$489M
Cap. Flow %
-22.15%
Top 10 Hldgs %
69.78%
Holding
73
New
2
Increased
3
Reduced
22
Closed
5

Top Buys

Rank Stock Value
1
EQX icon
Equinox Gold
EQX
+$13.2M
2
ODV
Osisko Development Corp
ODV
+$12.4M
3
CMPS
Compass Pathways
CMPS
+$4.78M
4
JAZZ icon
Jazz Pharmaceuticals
JAZZ
+$2.93M
5
CGC
Canopy Growth
CGC
+$180K

Top Sells

Rank Stock Value
1
UBER icon
Uber
UBER
+$51.6M
2
HBM icon
Hudbay
HBM
+$43.5M
3
TNL icon
Travel + Leisure Co
TNL
+$42.7M
4
BABA icon
Alibaba
BABA
+$35.4M
5
DAL icon
Delta Air Lines
DAL
+$34.6M

Sector Composition

Rank Sector Weight
1 Materials 34.27%
2 Industrials 18.48%
3 Consumer Discretionary 18.22%
4 Technology 9.85%
5 Communication Services 9.76%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HBM icon
1
Hudbay
HBM
$9.04B
$426M 19.3%
28,103,620
-3,795,400
-12% -$43.5M
DAL icon
2
Delta Air Lines
DAL
$55.4B
$279M 12.63%
4,909,600
-605,500
-11% -$34.6M
ERO icon
3
Ero Copper
ERO
$2.52B
$132M 5.98%
6,509,454
-957,601
-13% -$14.6M
CBRL icon
4
Cracker Barrel
CBRL
$1.2B
$125M 5.66%
2,833,700
– –
UAL icon
5
United Airlines
UAL
$37.5B
$105M 4.78%
1,091,900
-109,100
-9% -$10.5M
JAZZ icon
6
Jazz Pharmaceuticals
JAZZ
$15.5B
$104M 4.74%
792,800
+24,400
+3% +$2.93M
TNL icon
7
Travel + Leisure Co
TNL
$4.57B
$103M 4.67%
1,732,941
-710,900
-29% -$42.7M
GOOG icon
8
Alphabet (Google) Class C
GOOG
$4.22T
$94M 4.26%
386,000
-57,900
-13% -$12.2M
BBWI icon
9
Bath & Body Works
BBWI
$4.21B
$89.3M 4.05%
3,466,500
-600,500
-15% -$17.8M
AGI icon
10
Alamos Gold
AGI
$11.9B
$82.1M 3.72%
2,354,375
-594,500
-20% -$17M
MOS icon
11
The Mosaic Company
MOS
$7.03B
$79M 3.58%
2,278,300
-486,600
-18% -$16.8M
KD icon
12
Kyndryl
KD
$2.68B
$71M 3.22%
2,364,860
-799,200
-25% -$27.5M
SSNC icon
13
SS&C Technologies
SSNC
$16.8B
$69.1M 3.13%
779,000
-273,900
-26% -$23.7M
GOOGL icon
14
Alphabet (Google) Class A
GOOGL
$4.23T
$56.5M 2.56%
232,240
-15,600
-6% -$3.27M
UBER icon
15
Uber
UBER
$147B
$40.2M 1.82%
410,400
-552,000
-57% -$51.6M
MGM icon
16
MGM Resorts International
MGM
$11.8B
$34.4M 1.56%
993,900
-239,600
-19% -$8.79M
BIDU icon
17
Baidu
BIDU
$36.5B
$34M 1.54%
258,027
-308,400
-54% -$30.5M
BABA icon
18
Alibaba
BABA
$276B
$29.7M 1.35%
166,200
-270,000
-62% -$35.4M
C icon
19
Citigroup
C
$217B
$24.5M 1.11%
241,400
-261,800
-52% -$24.8M
RBLX icon
20
Roblox
RBLX
$37B
$20.8M 0.94%
150,400
– –
ODV
21
Osisko Development Corp
ODV
$692M
$18.6M 0.85%
5,500,000
+4,685,754
+575% +$12.4M
EQX icon
22
Equinox Gold
EQX
$6.8B
$18.6M 0.84%
+1,658,100
New +$13.2M
ITUB icon
23
Itaú Unibanco
ITUB
$90.4B
$17.1M 0.77%
2,394,060
-3,842,106
-62% -$25.4M
CMPS
24
Compass Pathways
CMPS
$1.67B
$16.3M 0.74%
2,844,618
+1,062,900
+60% +$4.78M
RIOT icon
25
Riot Platforms
RIOT
$6.91B
$14.9M 0.68%
783,900
– –
1
2 3

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ORCP
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SQA
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CAG
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ALMGDA
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GMT Capital's Q3 2025 Portfolio in Review

As of Q3 2025, GMT Capital held 73 positions worth $2.21B, down 7.7% from $2.39B the previous quarter. Its ten largest holdings account for 70% of the portfolio.

GMT Capital withdrew a net $489M in Q3 2025, closing 5 positions and reducing 22 holdings. Its most notable exit was Becton Dickinson, an estimated $15.6M position sold in full.

By sector, the portfolio is most concentrated in Materials at 34% of assets, up from 27% a quarter earlier, followed by Industrials and Consumer Discretionary.

Against the trend, GMT Capital opened a new position in Equinox Gold worth $18.6M.

  • GMT Capital's largest Q3 2025 buy was Equinox Gold: 1,658,100 shares worth $18.6M.
  • GMT Capital added most to Osisko Development Corp in Q3 2025, an estimated $12.4M increase.
  • GMT Capital's biggest Q3 2025 reduction was Uber, cutting an estimated $51.6M.
  • GMT Capital fully exited Becton Dickinson in Q3 2025, selling an estimated $15.6M.
  • GMT Capital's ten largest holdings make up 70% of its $2.21B portfolio in Q3 2025.
  • GMT Capital opened 2 new positions and closed 5 in Q3 2025.
  • GMT Capital's portfolio value fell 7.7% quarter-over-quarter to $2.21B.

Based on GMT Capital's 13F filing for Q3 2025, filed 14 Nov 2025.