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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
CBOE icon
401
Cboe Global Markets
CBOE
$29.9B
$903K 0.01%
3,680
-15,901
-81% -$3.82M
BDN
402
Brandywine Realty Trust
BDN
$554M
$898K 0.01%
215,331
+14,601
+7% +$61.4K
NTR icon
403
Nutrien
NTR
$30.7B
$894K 0.01%
+15,227
New +$887K
EXPE icon
404
Expedia Group
EXPE
$37.3B
$894K 0.01%
+4,181
New +$840K
RH icon
405
RH
RH
$3.71B
$893K 0.01%
4,395
-1,804
-29% -$392K
ASST icon
406
PUT
Strive Inc
ASST
$1.05B
$893K 0.01%
17,850
+12,360
+225% +$1.17M
GPK icon
407
Graphic Packaging
GPK
$3.58B
$889K 0.01%
+45,451
New +$988K
T icon
408
AT&T
T
$163B
$883K 0.01%
+31,253
New +$887K
LMT icon
409
Lockheed Martin
LMT
$136B
$881K 0.01%
1,765
-7,028
-80% -$3.19M
EYE icon
410
National Vision
EYE
$1.81B
$880K 0.01%
+30,157
New +$741K
SYF icon
411
Synchrony
SYF
$25.6B
$876K 0.01%
+12,324
New +$893K
ELME
412
Elme Communities
ELME
$144M
$873K 0.01%
51,795
-656
-1% -$10.8K
ROL icon
413
Rollins
ROL
$18.2B
$868K 0.01%
14,784
-945
-6% -$53.7K
DELL icon
414
Dell
DELL
$293B
$858K 0.01%
6,051
-6,881
-53% -$893K
MZTI
415
The Marzetti Company
MZTI
$3.11B
$852K 0.01%
4,931
-2,074
-30% -$372K
MASI
416
DELISTED
Masimo
MASI
$851K 0.01%
5,770
-4,710
-45% -$713K
SIRI icon
417
SiriusXM
SIRI
$10.1B
$850K 0.01%
+36,513
New +$845K
VISN
418
Vistance Networks Inc
VISN
$2.52B
$849K 0.01%
54,871
-97,105
-64% -$1.26M
CABO icon
419
Cable One
CABO
$212M
$846K 0.01%
4,779
+551
+13% +$82.8K
PINS icon
420
Pinterest
PINS
$13.4B
$841K 0.01%
+26,135
New +$948K
MWA icon
421
Mueller Water Products
MWA
$4.16B
$839K 0.01%
32,861
+14,028
+74% +$358K
IOT icon
422
Samsara
IOT
$23.8B
$837K 0.01%
22,462
-64,160
-74% -$2.38M
FLG
423
Flagstar Bank National Association
FLG
$5.82B
$832K 0.01%
72,049
-194,170
-73% -$2.31M
AEG icon
424
Aegon
AEG
$14.1B
$823K 0.01%
102,956
-41,016
-28% -$306K
BEN icon
425
Franklin Resources
BEN
$17.2B
$821K 0.01%
+35,515
New +$878K
15 16
17
18 19

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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.