Graham Capital Management’s VanEck Gold Miners ETF GDX Stock Holding History

Graham Capital Management’s Portfolio GDX Stock Details GDX Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q1	$213M	Buy	+2,320,000	New	+$229M	5.14%	2
2025 Q4	–	Sell	-100,000	Closed	-$7.64M	–	1361
2025 Q3	$7.64M	Sell	100,000 -340,000	-77%	-$20.5M	0.12%	79
2025 Q2	$22.9M	Sell	440,000 -223,700	-34%	-$11.1M	0.35%	31
2025 Q1	$30.5M	Buy	663,700 +438,700	+195%	+$17.7M	0.53%	24
2024 Q4	$7.63M	Sell	225,000 -110,000	-33%	-$4.22M	0.11%	78
2024 Q3	$13.3M	Buy	+335,000	New	+$12.7M	0.23%	60
2015 Q4	–	Sell	-261,000	Closed	-$3.59M	–	63
2015 Q3	$3.59M	Buy	+261,000	New	+$3.77M	0.43%	60
2014 Q3	–	Sell	-409,400	Closed	-$10.8M	–	150
2014 Q2	$10.8M	Buy	409,400 +114,700	+39%	+$2.75M	0.33%	66
2014 Q1	$6.96M	Buy	+294,700	New	+$7.24M	0.38%	62

Other funds holding GDX

Bank of Montreal Toronto, Ontario, Canada $269B AUM 31.4% 1-Year Est. Return

Morgan Stanley New York $1.66T AUM 25.57% 1-Year Est. Return

Bank of America Charlotte, North Carolina $1.37T AUM 24.88% 1-Year Est. Return

Goldman Sachs New York $871B AUM 31.28% 1-Year Est. Return

UBS Group Zurich, Switzerland $666B AUM 30.12% 1-Year Est. Return

Rafferty Asset Management New York $24.6B AUM 47.06% 1-Year Est. Return

Susquehanna International Group Bala Cynwyd, Pennsylvania $893B AUM 36.07% 1-Year Est. Return

JP Morgan Chase New York $1.56T AUM 27.86% 1-Year Est. Return

LPL Financial San Diego, California $377B AUM 19.32% 1-Year Est. Return

Citigroup New York $235B AUM 32.99% 1-Year Est. Return

Graham Capital Management's GDX Position: Q1 2026 in Review

Graham Capital Management increased its VanEck Gold Miners ETF (GDX) stake by 340% in Q1 2026, buying an estimated $8.37M and bringing the position to 110,000 shares worth $10.1M. The position accounts for 0.24% of the portfolio, ranked #74.

Graham Capital Management first reported a position in GDX in Q2 2013 and has held it in 29 quarters since. The position peaked at $68.7M in Q3 2016. 1,175 funds tracked by Wall St. Rank hold GDX as of Q1 2026.

Graham Capital Management held 110,000 shares of VanEck Gold Miners ETF worth $10.1M as of Q1 2026.
Graham Capital Management bought 85,000 VanEck Gold Miners ETF shares in Q1 2026, an estimated $8.37M.
VanEck Gold Miners ETF made up 0.24% of Graham Capital Management's portfolio in Q1 2026, its #74 holding.
Graham Capital Management first reported a position in VanEck Gold Miners ETF in Q2 2013 and has held it in 29 quarters since.
Graham Capital Management's VanEck Gold Miners ETF position peaked at $68.7M in Q3 2016.
1,175 funds tracked by Wall St. Rank held VanEck Gold Miners ETF as of Q1 2026.

Based on Graham Capital Management's 13F filing for Q1 2026, filed 15 May 2026.