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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
MEDP icon
426
Medpace
MEDP
$16.5B
$809K 0.02%
+1,440
New +$817K
OSCR icon
427
Oscar Health
OSCR
$8.61B
$807K 0.02%
56,172
-195,700
-78% -$3.39M
CHRW icon
428
C.H. Robinson
CHRW
$17.5B
$806K 0.02%
+5,013
New +$741K
CNA icon
429
CNA Financial
CNA
$14.1B
$804K 0.02%
16,842
+2,411
+17% +$111K
BRZE icon
430
Braze
BRZE
$2.99B
$804K 0.02%
+23,443
New +$695K
WPC icon
431
W.P. Carey
WPC
$16.4B
$804K 0.02%
+12,490
New +$832K
PTON icon
432
Peloton Interactive
PTON
$2.49B
$801K 0.02%
130,080
+68,379
+111% +$481K
CHE icon
433
Chemed
CHE
$7.22B
$793K 0.02%
1,854
-7,671
-81% -$3.34M
AD
434
Array Digital Infrastructure
AD
$3.05B
$788K 0.02%
14,689
+6,178
+73% +$305K
MASI
435
DELISTED
Masimo
MASI
$783K 0.02%
6,017
+247
+4% +$35.4K
SBCF icon
436
Seacoast Banking Corp of Florida
SBCF
$3.35B
$780K 0.02%
24,820
+4,289
+21% +$134K
AWK icon
437
American Water Works
AWK
$26.9B
$779K 0.02%
+5,966
New +$797K
XRX icon
438
Xerox
XRX
$425M
$776K 0.02%
327,242
+186,311
+132% +$551K
LBTYA icon
439
Liberty Global Class A
LBTYA
$3.6B
$773K 0.02%
69,398
-89,483
-56% -$990K
VRDN icon
440
Viridian Therapeutics
VRDN
$2.67B
$773K 0.02%
24,829
-12,661
-34% -$347K
COTY icon
441
Coty
COTY
$2.48B
$770K 0.02%
250,057
+164,672
+193% +$599K
GTY
442
Getty Realty Corp
GTY
$2.07B
$767K 0.02%
28,031
+14,971
+115% +$414K
HMN icon
443
Horace Mann Educators
HMN
$2.11B
$764K 0.02%
16,544
+3,042
+23% +$138K
THC icon
444
Tenet Healthcare
THC
$21.1B
$761K 0.02%
3,830
-3,403
-47% -$688K
CRDO icon
445
Credo Technology Group
CRDO
$46.6B
$760K 0.02%
5,284
-2,191
-29% -$337K
PLAB icon
446
Photronics
PLAB
$1.93B
$760K 0.02%
23,744
+4,987
+27% +$129K
ADPT icon
447
Adaptive Biotechnologies
ADPT
$3.97B
$756K 0.02%
+46,525
New +$759K
SPCE icon
448
PUT
Virgin Galactic
SPCE
$398M
$753K 0.02%
234,700
-1,163,800
-83% -$4.38M
WSM icon
449
Williams-Sonoma
WSM
$29.6B
$750K 0.02%
4,200
-850
-17% -$159K
EIX icon
450
Edison International
EIX
$26.4B
$748K 0.02%
12,466
+1,773
+17% +$102K
16 17
18
19 20

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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.