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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
ORCL icon
351
CALL
Oracle
ORCL
$423B
$1.07M 0.03%
+5,500
New +$1.31M
SPLV icon
352
Invesco S&P 500 Low Volatility ETF
SPLV
$7.22B
$1.07M 0.03%
+15,000
New +$1.08M
CDNS icon
353
Cadence Design Systems
CDNS
$93.4B
$1.07M 0.03%
3,408
-1,937
-36% -$632K
KSS icon
354
Kohl's
KSS
$2.19B
$1.06M 0.03%
51,708
+35,691
+223% +$669K
REXR icon
355
Rexford Industrial Realty
REXR
$8.19B
$1.05M 0.03%
+27,130
New +$1.12M
IBN icon
356
ICICI Bank
IBN
$108B
$1.05M 0.03%
+35,129
New +$1.08M
FLUT icon
357
Flutter Entertainment
FLUT
$16.4B
$1.04M 0.03%
+4,851
New +$1.09M
BG icon
358
Bunge Global
BG
$20.8B
$1.04M 0.02%
+11,700
New +$1.08M
BJ icon
359
BJs Wholesale Club
BJ
$12.3B
$1.04M 0.02%
+11,531
New +$1.06M
FNB icon
360
FNB Corp
FNB
$6.75B
$1.04M 0.02%
60,672
+47,588
+364% +$778K
HPP
361
Hudson Pacific Properties
HPP
$779M
$1.03M 0.02%
94,993
+58,824
+163% +$874K
FLG
362
Flagstar Bank National Association
FLG
$5.82B
$1.03M 0.02%
81,531
+9,482
+13% +$113K
KMT icon
363
Kennametal
KMT
$2.52B
$1.02M 0.02%
+36,029
New +$920K
DOX icon
364
Amdocs
DOX
$6.22B
$1.02M 0.02%
+12,707
New +$1.02M
DHI icon
365
D.R. Horton
DHI
$42.3B
$1.02M 0.02%
+7,100
New +$1.08M
BAM icon
366
Brookfield Asset Management
BAM
$83.8B
$1.02M 0.02%
+19,434
New +$1.04M
BYD icon
367
Boyd Gaming
BYD
$6.06B
$1.01M 0.02%
+11,889
New +$980K
CTRI icon
368
Centuri Holdings
CTRI
$2.41B
$1.01M 0.02%
40,100
-13,026
-25% -$291K
TTAN
369
ServiceTitan Inc
TTAN
$8.19B
$1.01M 0.02%
9,487
-334
-3% -$32.6K
ARCC icon
370
Ares Capital
ARCC
$14.4B
$1M 0.02%
+49,500
New +$998K
BFAM icon
371
Bright Horizons
BFAM
$3.86B
$993K 0.02%
9,793
-5,281
-35% -$533K
ROKU icon
372
Roku
ROKU
$22.7B
$990K 0.02%
9,123
+6,897
+310% +$700K
GPK icon
373
Graphic Packaging
GPK
$3.58B
$988K 0.02%
65,637
+20,186
+44% +$332K
LVS icon
374
Las Vegas Sands
LVS
$29.6B
$985K 0.02%
+15,138
New +$928K
MTZ icon
375
MasTec
MTZ
$21.9B
$978K 0.02%
+4,500
New +$944K
13 14
15
16 17

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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.