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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
PWR icon
251
Quanta Services
PWR
$101B
$1.6M 0.03%
+3,865
New +$1.5M
VLY icon
252
Valley National Bancorp
VLY
$8.04B
$1.6M 0.03%
150,859
+29,352
+24% +$293K
UBSI icon
253
United Bankshares
UBSI
$6.62B
$1.6M 0.03%
42,953
+19,743
+85% +$736K
ABBV icon
254
AbbVie
ABBV
$435B
$1.59M 0.03%
6,868
-21,991
-76% -$4.48M
MGA icon
255
Magna International
MGA
$18.8B
$1.59M 0.03%
+33,464
New +$1.47M
FISV
256
Fiserv Inc
FISV
$27.9B
$1.58M 0.03%
12,240
-21,786
-64% -$3.12M
FIVN icon
257
FIVE9
FIVN
$2.54B
$1.57M 0.02%
64,929
-46,892
-42% -$1.24M
MFC icon
258
Manulife Financial
MFC
$73.5B
$1.56M 0.02%
50,177
-129,400
-72% -$3.99M
OKTA icon
259
Okta
OKTA
$25.8B
$1.55M 0.02%
16,945
-98,300
-85% -$9.18M
WWD icon
260
Woodward
WWD
$21.4B
$1.55M 0.02%
6,147
+4,933
+406% +$1.23M
QLYS icon
261
Qualys
QLYS
$6.35B
$1.55M 0.02%
11,717
-18,598
-61% -$2.52M
ZM icon
262
Zoom
ZM
$30.6B
$1.55M 0.02%
18,736
-516
-3% -$40.3K
WMT icon
263
Walmart Inc
WMT
$890B
$1.54M 0.02%
14,972
-24,036
-62% -$2.39M
GNTX icon
264
Gentex
GNTX
$5.07B
$1.5M 0.02%
52,912
+6,744
+15% +$179K
NFE icon
265
PUT
New Fortress Energy
NFE
$101M
$1.49M 0.02%
676,200
-1,219,300
-64% -$3.47M
PG icon
266
Procter & Gamble
PG
$339B
$1.48M 0.02%
9,631
+6,190
+180% +$967K
ADC icon
267
Agree Realty
ADC
$9.41B
$1.47M 0.02%
20,751
+5,208
+34% +$377K
THC icon
268
Tenet Healthcare
THC
$21.1B
$1.47M 0.02%
7,233
-4,826
-40% -$856K
MBLY icon
269
Mobileye
MBLY
$2.2B
$1.46M 0.02%
103,722
-131,452
-56% -$1.95M
PCTY icon
270
Paylocity
PCTY
$7.98B
$1.46M 0.02%
9,182
-9,214
-50% -$1.63M
MPC icon
271
Marathon Petroleum
MPC
$83.7B
$1.45M 0.02%
+7,532
New +$1.32M
CTSH icon
272
Cognizant
CTSH
$26B
$1.45M 0.02%
21,636
-48,680
-69% -$3.52M
SEDG icon
273
SolarEdge
SEDG
$1.95B
$1.45M 0.02%
39,117
-134,279
-77% -$4.01M
FCX icon
274
Freeport-McMoran
FCX
$97.5B
$1.45M 0.02%
36,849
+22,310
+153% +$968K
SPOT icon
275
Spotify
SPOT
$100B
$1.44M 0.02%
2,064
+264
+15% +$185K
9 10
11
12 13

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BOK
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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.