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GCM

Graham Capital Management Portfolio holdings

AUM $4.14B
1-Year Est. Return 17.82%
This Fund
S&P 500
This Quarter Est. Return
+7.17%
1 Year Est. Return
+17.82%
3 Year Est. Return
+41.13%
5 Year Est. Return
+43.39%
10 Year Est. Return
+274.46%
AUM
$6.32B
AUM Growth
-$299M
Cap. Flow
-$1.27B
Cap. Flow %
-20.09%
Top 10 Hldgs %
55.44%
Holding
1,726
New
458
Increased
249
Reduced
476
Closed
529

Top Buys

Rank Stock Value
1
GDX icon
VanEck Gold Miners ETF
GDX
+$42.9M
2
XLI icon
State Street Industrial Select Sector SPDR ETF
XLI
+$20.3M
3
IWM icon
iShares Russell 2000 ETF
IWM
+$13.4M
4
BBIO icon
BridgeBio Pharma
BBIO
+$12.4M
5
EWY icon
iShares MSCI South Korea ETF
EWY
+$12.3M

Top Sells

Rank Stock Value
1
EEM icon
iShares MSCI Emerging Markets ETF
EEM
+$16M
2
IBIT icon
iShares Bitcoin Trust
IBIT
+$15.8M
3
CAT icon
Caterpillar
CAT
+$15.8M
4
ICE icon
Intercontinental Exchange
ICE
+$13.1M
5
CVX icon
Chevron
CVX
+$12.9M

Sector Composition

Rank Sector Weight
1 Industrials 3.84%
2 Technology 3.72%
3 Financials 3.06%
4 Consumer Discretionary 2.78%
5 Healthcare 2.27%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CSX icon
226
CSX Corp
CSX
$93.1B
$1.88M 0.03%
52,855
+35,855
+211% +$1.22M
RBLX icon
227
Roblox
RBLX
$27B
$1.88M 0.03%
13,544
+7,524
+125% +$935K
CAVA icon
228
CAVA Group
CAVA
$7.27B
$1.84M 0.03%
30,519
-4,233
-12% -$321K
UPS icon
229
United Parcel Service
UPS
$88.9B
$1.84M 0.03%
+21,980
New +$1.99M
KKR icon
230
KKR & Co
KKR
$92.3B
$1.83M 0.03%
+14,109
New +$2M
LBTYA icon
231
Liberty Global Class A
LBTYA
$3.6B
$1.82M 0.03%
158,881
-118,193
-43% -$1.3M
GIL icon
232
Gildan
GIL
$10.6B
$1.82M 0.03%
+31,416
New +$1.68M
BKNG icon
233
Booking.com
BKNG
$161B
$1.81M 0.03%
8,375
+3,100
+59% +$692K
BTDR icon
234
Bitdeer Technologies
BTDR
$2.65B
$1.8M 0.03%
105,428
+22,383
+27% +$314K
CHKP icon
235
Check Point Software Technologies
CHKP
$13.1B
$1.78M 0.03%
8,615
+3,842
+80% +$774K
AXS icon
236
AXIS Capital
AXS
$7.55B
$1.78M 0.03%
18,535
+3,389
+22% +$328K
KLAC icon
237
KLA
KLAC
$259B
$1.77M 0.03%
16,430
-20,750
-56% -$1.94M
HUN icon
238
Huntsman Corp
HUN
$1.77B
$1.77M 0.03%
197,029
-45,174
-19% -$475K
RRC icon
239
Range Resources
RRC
$8.95B
$1.77M 0.03%
46,940
-184,158
-80% -$6.58M
USB icon
240
US Bancorp
USB
$99.6B
$1.75M 0.03%
36,202
+1,885
+5% +$89.2K
PPG icon
241
PPG Industries
PPG
$26.6B
$1.75M 0.03%
+16,641
New +$1.85M
ITT icon
242
ITT
ITT
$19.1B
$1.72M 0.03%
+9,600
New +$1.61M
WDC icon
243
Western Digital
WDC
$150B
$1.71M 0.03%
14,219
-32,405
-70% -$2.65M
CSGP icon
244
CoStar Group
CSGP
$12.3B
$1.69M 0.03%
+20,024
New +$1.77M
HOMB icon
245
Home BancShares
HOMB
$6.18B
$1.68M 0.03%
59,437
-32,953
-36% -$957K
CCL icon
246
Carnival Corporation Ltd
CCL
$39.7B
$1.65M 0.03%
56,910
-141,373
-71% -$4.27M
BFAM icon
247
Bright Horizons
BFAM
$3.86B
$1.64M 0.03%
15,074
-9,725
-39% -$1.13M
OMF icon
248
OneMain Financial
OMF
$7.47B
$1.61M 0.03%
28,534
-23,788
-45% -$1.4M
HE icon
249
Hawaiian Electric Industries
HE
$2.14B
$1.6M 0.03%
145,341
-105,384
-42% -$1.2M
EWBC icon
250
East-West Bancorp
EWBC
$18B
$1.6M 0.03%
15,052
+7,249
+93% +$763K
8 9
10
11 12

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SP
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BOK
Bank of Korea Seoul, South Korea $4.13B AUM
ZP
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SHCM
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AP
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BHC
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BG
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MGP
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Graham Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, Graham Capital Management held 1,726 positions worth $6.32B, down 4.5% from $6.62B the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Graham Capital Management withdrew a net $1.27B in Q3 2025, closing 529 positions and reducing 476 holdings. Its most notable exit was iShares MSCI Emerging Markets ETF, an estimated $16M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 3.8% of assets, down from 4.3% a quarter earlier, followed by Technology and Financials.

Against the trend, Graham Capital Management opened a new position in iShares Russell 2000 ETF worth $14.1M.

  • Graham Capital Management's largest Q3 2025 buy was iShares Russell 2000 ETF: 58,400 shares worth $14.1M.
  • Graham Capital Management added most to VanEck Gold Miners ETF in Q3 2025, an estimated $42.9M increase.
  • Graham Capital Management's biggest Q3 2025 reduction was iShares Bitcoin Trust, cutting an estimated $15.8M.
  • Graham Capital Management fully exited iShares MSCI Emerging Markets ETF in Q3 2025, selling an estimated $16M.
  • Graham Capital Management's ten largest holdings make up 55% of its $6.32B portfolio in Q3 2025.
  • Graham Capital Management opened 458 new positions and closed 529 in Q3 2025.
  • Graham Capital Management's portfolio value fell 4.5% quarter-over-quarter to $6.32B.

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