VANECK ETF TRUST

Ticker: GDX CUSIP: 92189F106 Class: GOLD MINERS ETF

Graham Capital Management, L.P.'s Holding History (CIK: 0001315421)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025
Shares 25,000 Value ($000) $2,144 Avg Close — Range —
Q3 2025
Shares 812,500 Value ($000) $62,075 Avg Close — Range —
Q2 2025
Shares 100,000 Value ($000) $5,206 Avg Close — Range —
Q3 2024
Shares 554,036 Value ($000) $22,062 Avg Close — Range —
Q4 2022
Shares 335,000 Value ($000) $9,601 Avg Close — Range —
Q3 2021
Shares 73,800 Value ($000) $2,174 Avg Close — Range —
Q2 2021
Shares 250,000 Value ($000) $8,495 Avg Close — Range —
Q1 2021
Shares 200,000 Value ($000) $6,500 Avg Close — Range —
Q4 2020
Shares 180,000 Value ($000) $6,483 Avg Close — Range —
Q2 2020
Shares 324,852 Value ($000) $11,915 Avg Close — Range —
Q1 2020
Shares 241,852 Value ($000) $5,572 Avg Close — Range —
Q1 2019
Shares 25,000 Value ($000) $560 Avg Close — Range —
Q3 2018
Shares 115,000 Value ($000) $2,129 Avg Close — Range —
Q2 2018
Shares 430,000 Value ($000) $9,593 Avg Close — Range —
Q1 2018
Shares 750,000 Value ($000) $16,485 Avg Close — Range —
Q4 2017
Shares 823,661 Value ($000) $19,142 Avg Close — Range —
Q3 2017
Shares 1,541,258 Value ($000) $35,387 Avg Close — Range —
Q2 2017
Shares 650,000 Value ($000) $14,352 Avg Close — Range —
Q1 2017
Shares 100,000 Value ($000) $2,281 Avg Close — Range —
Q3 2016
Shares 2,600,000 Value ($000) $68,718 Avg Close — Range —
Q2 2016
Shares 492,100 Value ($000) $13,631 Avg Close — Range —