Graham Capital Management’s Invesco QQQ Trust QQQ Stock Holding History

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

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q1	$11.5M	Buy	+20,000	New	+$12.2M	0.28%	69
2025 Q3	–	Sell	-10,000	Closed	-$5.52M	–	1575
2025 Q2	$5.52M	Sell	10,000 -10,000	-50%	-$4.97M	0.08%	128
2025 Q1	$9.38M	Buy	+20,000	New	+$10.2M	0.16%	62
2020 Q4	–	Sell	-625,000	Closed	-$174M	–	125
2020 Q3	$174M	Buy	+625,000	New	+$170M	5.98%	4
2020 Q1	–	Sell	-1,350,000	Closed	-$286M	–	85
2019 Q4	$286M	Buy	+1,350,000	New	+$270M	10.44%	2
2018 Q3	–	Sell	-300,000	Closed	-$51.5M	–	132
2018 Q2	$51.5M	Buy	300,000 +175,000	+140%	+$29.3M	1.92%	11
2018 Q1	$20M	Buy	+125,000	New	+$20.7M	1.07%	22
2017 Q4	–	Sell	-350,000	Closed	-$50.9M	–	127
2017 Q3	$50.9M	Buy	+350,000	New	+$50.1M	1.07%	14
2015 Q1	–	Sell	-1,020,000	Closed	-$105M	–	148
2014 Q4	$105M	Buy	1,020,000 +20,000	+2%	+$2.02M	4.49%	5
2014 Q3	$98.8M	Sell	1,000,000 -1,573,600	-61%	-$153M	4.36%	3
2014 Q2	$242M	Buy	+2,573,600	New	+$230M	7.27%	3

Other funds holding QQQ

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

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

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

Wells Fargo San Francisco, California $530B AUM 22.01% 1-Year Est. Return

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

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

Raymond James Financial St Petersburg, Florida $324B AUM 22.36% 1-Year Est. Return

Royal Bank of Canada Toronto, Ontario, Canada $570B AUM 27.57% 1-Year Est. Return

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

Graham Capital Management's QQQ Position: Q4 2025 in Review

Graham Capital Management sold out of Invesco QQQ Trust (QQQ) in Q4 2025, closing a stake of 8,200 shares — an estimated $5.03M sold.

Graham Capital Management first reported a position in QQQ in Q1 2015 and held it in 10 quarters. The position peaked at $259M in Q3 2018. 3,854 funds tracked by Wall St. Rank hold QQQ as of Q4 2025.

Graham Capital Management reported no remaining Invesco QQQ Trust position as of Q4 2025 after selling out during the quarter.
Graham Capital Management sold 8,200 Invesco QQQ Trust shares in Q4 2025, an estimated $5.03M.
Graham Capital Management first reported a position in Invesco QQQ Trust in Q1 2015 and held it in 10 quarters.
Graham Capital Management's Invesco QQQ Trust position peaked at $259M in Q3 2018.
3,854 funds tracked by Wall St. Rank held Invesco QQQ Trust as of Q4 2025.

Based on Graham Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.