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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
+1.47%
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
$4.18B
AUM Growth
-$2.14B
Cap. Flow
-$1.72B
Cap. Flow %
-41.09%
Top 10 Hldgs %
35.08%
Holding
1,653
New
441
Increased
361
Reduced
355
Closed
464

Top Buys

Rank Stock Value
1
CIFR icon
Cipher Digital
CIFR
+$39.9M
2
NFLX icon
Netflix
NFLX
+$38M
3
EWC icon
iShares MSCI Canada ETF
EWC
+$35M
4
UPS icon
United Parcel Service
UPS
+$26.1M
5
EOSE icon
Eos Energy Enterprises
EOSE
+$25.7M

Top Sells

Rank Stock Value
1
GDX icon
VanEck Gold Miners ETF
GDX
+$62.2M
2
IBIT icon
iShares Bitcoin Trust
IBIT
+$43.4M
3
XLU icon
State Street Utilities Select Sector SPDR ETF
XLU
+$39.5M
4
VTV icon
Vanguard Morningstar Value ETF
VTV
+$32.8M
5
XLI icon
State Street Industrial Select Sector SPDR ETF
XLI
+$20.4M

Sector Composition

Rank Sector Weight
1 Technology 8.87%
2 Industrials 7.53%
3 Financials 5.36%
4 Consumer Discretionary 5.16%
5 Communication Services 4.02%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RBLX icon
226
CALL
Roblox
RBLX
$27B
$2.03M 0.05%
+25,000
New +$2.65M
TSLA icon
227
CALL
Tesla
TSLA
$1.3T
$2.02M 0.05%
+4,500
New +$1.99M
APP icon
228
Applovin
APP
$116B
$2.02M 0.05%
+3,000
New +$1.89M
DIS icon
229
Walt Disney
DIS
$181B
$1.99M 0.05%
+17,500
New +$1.93M
RBC icon
230
RBC Bearings
RBC
$18B
$1.98M 0.05%
+4,411
New +$1.87M
FAST icon
231
Fastenal
FAST
$59.5B
$1.95M 0.05%
48,649
-26,996
-36% -$1.14M
KRE icon
232
State Street SPDR S&P Regional Banking ETF
KRE
$4.64B
$1.94M 0.05%
+30,000
New +$1.89M
ZS icon
233
Zscaler
ZS
$27.3B
$1.94M 0.05%
8,641
+6,045
+233% +$1.71M
FBIN icon
234
Fortune Brands Innovations
FBIN
$6.06B
$1.93M 0.05%
+38,500
New +$1.93M
WT icon
235
WisdomTree
WT
$3.22B
$1.88M 0.05%
154,264
+110,963
+256% +$1.34M
EPRT icon
236
Essential Properties Realty Trust
EPRT
$6.62B
$1.87M 0.04%
62,991
+52,957
+528% +$1.61M
AXS icon
237
AXIS Capital
AXS
$7.55B
$1.86M 0.04%
17,394
-1,141
-6% -$113K
AEE icon
238
Ameren
AEE
$30.1B
$1.82M 0.04%
18,240
+16,308
+844% +$1.67M
NTST
239
NETSTREIT Corp
NTST
$2.1B
$1.82M 0.04%
103,139
+47,619
+86% +$867K
PTC icon
240
PTC
PTC
$16B
$1.79M 0.04%
10,275
+4,070
+66% +$756K
POR icon
241
Portland General Electric
POR
$5.77B
$1.76M 0.04%
36,771
-8,790
-19% -$415K
FTS icon
242
Fortis
FTS
$28.7B
$1.76M 0.04%
+33,914
New +$1.74M
CNX icon
243
CNX Resources
CNX
$5.2B
$1.75M 0.04%
47,686
+38,633
+427% +$1.38M
KEYS icon
244
Keysight
KEYS
$58.3B
$1.71M 0.04%
8,423
+3,755
+80% +$697K
NOG icon
245
Northern Oil and Gas
NOG
$2.35B
$1.71M 0.04%
79,423
+68,974
+660% +$1.55M
BMY icon
246
Bristol-Myers Squibb
BMY
$132B
$1.69M 0.04%
31,314
+16,611
+113% +$799K
GNW icon
247
Genworth Financial
GNW
$3.71B
$1.67M 0.04%
185,333
+64,287
+53% +$560K
BRSL
248
Brightstar Lottery PLC
BRSL
$2.03B
$1.67M 0.04%
+107,625
New +$1.75M
DCI icon
249
Donaldson
DCI
$11.4B
$1.65M 0.04%
18,628
-14,072
-43% -$1.22M
CCL icon
250
Carnival Corporation Ltd
CCL
$39.7B
$1.65M 0.04%
53,944
-2,966
-5% -$82.7K
8 9
10
11 12

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Graham Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Graham Capital Management held 1,653 positions worth $4.18B, down 34% from $6.32B the previous quarter. Its ten largest holdings account for 35% of the portfolio.

Graham Capital Management withdrew a net $1.72B in Q4 2025, closing 464 positions and reducing 355 holdings. Its most notable exit was Vanguard Morningstar Value ETF, an estimated $32.8M position sold in full.

By sector, the portfolio is most concentrated in Technology at 8.9% of assets, up from 3.7% a quarter earlier, followed by Industrials and Financials.

Against the trend, Graham Capital Management opened a new position in Cipher Digital worth $33.3M.

  • Graham Capital Management's largest Q4 2025 buy was Cipher Digital: 2,258,042 shares worth $33.3M.
  • Graham Capital Management added most to Netflix in Q4 2025, an estimated $38M increase.
  • Graham Capital Management's biggest Q4 2025 reduction was VanEck Gold Miners ETF, cutting an estimated $62.2M.
  • Graham Capital Management fully exited Vanguard Morningstar Value ETF in Q4 2025, selling an estimated $32.8M.
  • Graham Capital Management's ten largest holdings make up 35% of its $4.18B portfolio in Q4 2025.
  • Graham Capital Management opened 441 new positions and closed 464 in Q4 2025.
  • Graham Capital Management's portfolio value fell 34% quarter-over-quarter to $4.18B.

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