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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
ONDS icon
376
CALL
Ondas Inc
ONDS
$5.19B
$976K 0.02%
+100,000
New +$803K
COO icon
377
Cooper Companies
COO
$14.5B
$969K 0.02%
+11,817
New +$885K
GTX icon
378
Garrett Motion
GTX
$5.57B
$966K 0.02%
55,437
+21,554
+64% +$343K
RVLV icon
379
Revolve Group
RVLV
$1.73B
$962K 0.02%
31,865
-21,604
-40% -$522K
SLB icon
380
CALL
SLB Ltd
SLB
$75B
$960K 0.02%
+25,000
New +$906K
OVV icon
381
Ovintiv
OVV
$16.4B
$956K 0.02%
24,402
+9,554
+64% +$370K
LBTYK icon
382
Liberty Global Class C
LBTYK
$3.49B
$952K 0.02%
86,218
-18,638
-18% -$207K
TMDX icon
383
Transmedics
TMDX
$2.91B
$947K 0.02%
7,785
-270
-3% -$33.9K
GIB icon
384
CGI
GIB
$15.5B
$939K 0.02%
10,173
-15,118
-60% -$1.35M
BHC icon
385
Bausch Health
BHC
$2.34B
$938K 0.02%
134,985
+88,335
+189% +$581K
MRK icon
386
Merck
MRK
$318B
$935K 0.02%
8,887
-6,124
-41% -$575K
NET icon
387
Cloudflare
NET
$107B
$933K 0.02%
4,732
+13
+0.3% +$2.75K
CVBF icon
388
CVB Financial
CVBF
$3.99B
$932K 0.02%
50,120
+14,289
+40% +$273K
VRSN icon
389
VeriSign
VRSN
$26.6B
$931K 0.02%
3,833
+1,672
+77% +$420K
CNQ icon
390
Canadian Natural Resources
CNQ
$93.8B
$923K 0.02%
27,276
-79,866
-75% -$2.59M
MBLY icon
391
Mobileye
MBLY
$2.2B
$923K 0.02%
88,381
-15,341
-15% -$192K
HP icon
392
Helmerich & Payne
HP
$3.71B
$921K 0.02%
+32,120
New +$853K
B
393
Barrick Mining
B
$73.2B
$912K 0.02%
+20,934
New +$785K
BROS icon
394
Dutch Bros
BROS
$9.26B
$911K 0.02%
14,884
+2,165
+17% +$123K
LW icon
395
Lamb Weston
LW
$7.19B
$911K 0.02%
+21,738
New +$1.28M
SHG icon
396
Shinhan Financial Group
SHG
$35.6B
$910K 0.02%
16,959
+1,202
+8% +$63.4K
MWA icon
397
Mueller Water Products
MWA
$4.16B
$907K 0.02%
38,090
+5,229
+16% +$130K
D icon
398
Dominion Energy
D
$59.3B
$905K 0.02%
15,454
-69,946
-82% -$4.21M
RIGL icon
399
Rigel Pharmaceuticals
RIGL
$750M
$898K 0.02%
20,967
-2,518
-11% -$94.9K
EGBN icon
400
Eagle Bancorp
EGBN
$845M
$896K 0.02%
41,831
+3,267
+8% +$63K
14 15
16
17 18

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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.