GMT Capital

What GMT Capital does

GMT Capital Corp. is a privately-held investment management firm founded in 1993 by Tom Claugus and headquartered in Atlanta, Georgia. The firm manages the Bay Resource Partners Funds family — including Bay Resource Partners LP, Bay II Resource Partners LP, and the Bay Resource Partners Offshore Master Fund L.P. — and operates a discretionary long/short equity strategy that allocates capital across all markets and sectors. The strategy is built around the flexibility to position both long and short, allowing participation in rising and falling market conditions.

The firm serves qualified investors — high-net-worth individuals and institutional investors — through a direct relationship model. Investor access is gated via a partner login portal on the GMT Capital website, with a qualified investor certification questionnaire required to initiate engagement. The firm is led by founder Tom Claugus with Harold Randall as COO, and operates with a small team in the 11-50 employee range. Public disclosure activity in late 2025 shows the group holding a concentrated position of more than 2.6 million shares in Cracker Barrel (CBRL) as part of a 10% owner group, followed by partial divestitures of approximately $1.08 million to $2.38 million in December 2025.

Revenue is generated through traditional investment management fees — management fees and performance fees on the Bay Resource Partners funds — though specific fee schedules are not publicly disclosed. The firm is independently founder-owned with no disclosed private equity, venture capital, or strategic parent backing, and operates entirely as a private, unregistered-to-public investment manager with no public ticker or exchange listing.

Name

GMT Capital

Legal name

GMT Capital Corp.

Website

https://gmtcapital.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

11–50 employees

Short description

GMT Capital Corp. is a privately-held Atlanta-based investment manager founded in 1993 by Tom Claugus, managing the Bay Resource Partners Funds family with a discretionary long/short equity strategy across all markets and sectors for qualified high-net-worth and institutional investors.

Ownership category

akta.pro rank

Headquarters

HQ city

Atlanta

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Distribution channels1 record

Marketing channels1 record

Core offering

GMT Capital Corp. is the manager of the Bay Resource Partners Funds, an investment vehicle that allocates assets both long and short across all markets and sectors. Founded by Tom Claugus in 1993 and based in Atlanta, GA, the firm delivers professional long/short equity investment management to qualified investors via onshore and offshore fund structures.

Product overview

GMT Capital Corp operates as an investment management firm offering a single core product: the Bay Resource Partners Funds. The firm allocates assets both long and short across all markets and sectors. Founded in 1993 and based in Atlanta, GA, the firm provides asset management services through its Bay Resource Partners Fund family, with a partner login portal for qualified investors.

Differentiator

Problem solved

Functional benefit

Products and services

• Bay Resource Partners Funds Long/short equity investment funds managed by GMT Capital Corp., allocating capital both long and short across all markets and sectors for qualified and institutional investors.
• Bay II Resource Partners LP An affiliated fund vehicle within the Bay Resource Partners fund family, managed by GMT Capital Corp. and operating under the firm's long/short equity investment strategy.
• Bay Resource Partners Offshore Master Fund L.P. Offshore master fund within the Bay Resource Partners Funds structure, managed by GMT Capital Corp. to deliver the firm's long/short equity strategy to international qualified investors.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• Bay Resource Partners LPcoreOthersBay Resource Partners LP is one of the funds managed by GMT Capital Corp. The fund is part of the Bay Resource Partners Funds family of investment vehicles.
• Bay II Resource Partners LPcoreOthersBay II Resource Partners LP is an affiliated fund managed by GMT Capital Corp, operating as part of the long/short equity investment strategy.
• Bay Resource Partners Offshore Master Fund L.P.coreOthersThe offshore master fund is part of the Bay Resource Partners Funds structure, managed by GMT Capital Corp to serve international qualified investors.

Scale indicators2 records

Recent moves3 records

Expansion highlights3 records

Direct peers

• Greenlight Capital: Long/short equity hedge fund founded by David Einhorn focused on fundamental value investing across public markets. Directly comparable to GMT Capital in strategy type, target investors (qualified/accredited), and high-conviction single-name approach.
• Pershing Square Capital Management: Concentrated, activist-oriented long/short equity manager led by Bill Ackman. Comparable to GMT Capital in deploying concentrated public-equity positions and serving qualified investors, with similar founder-led model.
• Baupost Group: Multi-billion-dollar value-oriented investment manager running long/short and private strategies founded by Seth Klarman. Comparable to GMT Capital in its long-tenured founder-led structure, qualified-investor base, and flexible long/short public-market mandate.
• Lone Pine Capital: Long/short equity hedge fund with a research-intensive, fundamentally driven approach across sectors. Comparable to GMT Capital in long/short public-equity strategy and institutional/qualified-investor focus.
• Tiger Global Management: Large long/short equity firm running public-equity strategies across geographies and sectors. Comparable to GMT Capital in long/short public-market mandate and global, sector-agnostic investment approach.
• Coatue Management: Technology-focused long/short equity manager serving institutional and qualified investors. Comparable to GMT Capital in long/short public-equity structure and high-net-worth/institutional LP base.
• Viking Global Investors: Multi-sector long/short equity hedge fund founded by O. Andreas Halvorsen. Directly comparable to GMT Capital in long/short equity mandate, sector-agnostic investing, and institutional qualified-investor orientation.
• Point72 Asset Management: Multi-strategy hedge fund with a large long/short equity component, founded by Steven A. Cohen. Comparable to GMT Capital in long/short public-equity strategy, qualified-investor base, and lean founder-driven culture.

Broad incumbents

• Citadel: Large multi-strategy alternative asset manager with significant long/short equity and multi-manager fund of funds (Citadel Global Equities). Overlaps with GMT Capital in long/short equity and in running a multi-manager platform, but operates at far greater scale and breadth.
• Bridgewater Associates: Largest global macro hedge fund manager running multiple multi-manager strategies. Comparable to GMT Capital only at the broad 'alternative asset manager serving qualified investors' level; Bridgewater's macro focus and scale place it as a broad incumbent rather than a direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/gmt_cap
• LinkedInlinkedin.com/company/gmt-capital

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments7 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about GMT Capital