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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
RVLV icon
326
Revolve Group
RVLV
$1.73B
$1.14M 0.02%
53,469
+4,815
+10% +$105K
EXC icon
327
Exelon
EXC
$47B
$1.14M 0.02%
25,276
-1,125
-4% -$49.4K
RRR icon
328
Red Rock Resorts
RRR
$3.62B
$1.14M 0.02%
+18,596
New +$1.09M
MEOH icon
329
Methanex
MEOH
$4.12B
$1.13M 0.02%
28,488
-21,118
-43% -$750K
MOS icon
330
The Mosaic Company
MOS
$7.33B
$1.13M 0.02%
32,580
-6,055
-16% -$209K
WTS icon
331
Watts Water Technologies
WTS
$13.1B
$1.13M 0.02%
4,044
-5,194
-56% -$1.39M
PLD icon
332
Prologis
PLD
$133B
$1.13M 0.02%
+9,841
New +$1.08M
CTRI icon
333
Centuri Holdings
CTRI
$2.41B
$1.12M 0.02%
+53,126
New +$1.13M
LTM
334
LATAM Airlines Group S.A.
LTM
$16.3B
$1.12M 0.02%
+24,842
New +$1.12M
IONS icon
335
Ionis Pharmaceuticals
IONS
$9.4B
$1.12M 0.02%
17,163
-3,772
-18% -$184K
AS icon
336
Amer Sports
AS
$21.4B
$1.12M 0.02%
32,194
-78,754
-71% -$2.97M
TMO icon
337
Thermo Fisher Scientific
TMO
$220B
$1.11M 0.02%
2,290
-2,353
-51% -$1.1M
SKWD icon
338
Skyward Specialty Insurance
SKWD
$2.58B
$1.11M 0.02%
23,306
+11,245
+93% +$563K
AAL icon
339
American Airlines Group
AAL
$10.6B
$1.11M 0.02%
98,493
-138,213
-58% -$1.7M
SLNO
340
DELISTED
Soleno Therapeutics
SLNO
$1.11M 0.02%
+16,374
New +$1.21M
UBS icon
341
UBS Group
UBS
$176B
$1.1M 0.02%
26,903
-24,619
-48% -$956K
JHG
342
DELISTED
Janus Henderson
JHG
$1.1M 0.02%
24,658
-25,331
-51% -$1.09M
LRN icon
343
Stride
LRN
$3.43B
$1.09M 0.02%
7,348
-36,075
-83% -$5.29M
TTWO icon
344
Take-Two Interactive
TTWO
$46.1B
$1.09M 0.02%
+4,234
New +$1M
STRA icon
345
Strategic Education
STRA
$1.92B
$1.09M 0.02%
12,669
+1,274
+11% +$103K
CRDO icon
346
Credo Technology Group
CRDO
$46.6B
$1.09M 0.02%
7,475
-1,447
-16% -$177K
CIVI
347
DELISTED
Civitas Resources
CIVI
$1.08M 0.02%
33,372
-45,872
-58% -$1.47M
NYT icon
348
New York Times
NYT
$10.2B
$1.08M 0.02%
+18,855
New +$1.08M
PATH icon
349
UiPath
PATH
$7.8B
$1.08M 0.02%
80,658
+58,890
+271% +$696K
PSN icon
350
Parsons
PSN
$5.08B
$1.08M 0.02%
13,000
-22,517
-63% -$1.74M
12 13
14
15 16

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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.