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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
ARVN icon
451
Arvinas
ARVN
$572M
$745K 0.01%
87,409
-147,219
-63% -$1.12M
URBN icon
452
Urban Outfitters
URBN
$6.59B
$742K 0.01%
10,386
-58,727
-85% -$4.32M
ASPN icon
453
Aspen Aerogels
ASPN
$518M
$737K 0.01%
105,880
+93,257
+739% +$658K
BCPC
454
Balchem Corp
BCPC
$5.72B
$737K 0.01%
+4,909
New +$773K
VST icon
455
Vistra
VST
$47.4B
$735K 0.01%
+3,750
New +$743K
ORLY icon
456
O'Reilly Automotive
ORLY
$76.3B
$731K 0.01%
6,780
-44,209
-87% -$4.44M
PAY icon
457
Paymentus
PAY
$4.86B
$727K 0.01%
23,753
+7,693
+48% +$254K
OZK icon
458
Bank OZK
OZK
$5.61B
$727K 0.01%
14,256
-76,523
-84% -$3.91M
BTSG icon
459
BrightSpring Health Services
BTSG
$12.4B
$722K 0.01%
24,439
-45,390
-65% -$1.06M
IRDM icon
460
Iridium Communications
IRDM
$5.29B
$722K 0.01%
41,369
+5,100
+14% +$126K
EPR icon
461
EPR Properties
EPR
$4.77B
$722K 0.01%
+12,450
New +$700K
PAG icon
462
Penske Automotive Group
PAG
$14.2B
$721K 0.01%
4,146
-269
-6% -$48K
HWC icon
463
Hancock Whitney
HWC
$6.24B
$719K 0.01%
+11,487
New +$704K
IBKR icon
464
Interactive Brokers
IBKR
$39.8B
$716K 0.01%
10,407
+885
+9% +$55.7K
HLF icon
465
Herbalife
HLF
$1.29B
$716K 0.01%
84,828
+2,387
+3% +$22.5K
TTC icon
466
Toro Company
TTC
$9.49B
$713K 0.01%
9,356
+2,799
+43% +$215K
PRKS icon
467
United Parks & Resorts
PRKS
$2.12B
$713K 0.01%
13,785
-4,850
-26% -$245K
SNV
468
DELISTED
Synovus
SNV
$710K 0.01%
14,475
-62,288
-81% -$3.19M
ITGR icon
469
Integer Holdings
ITGR
$4.26B
$708K 0.01%
6,851
+1,100
+19% +$120K
WDAY icon
470
Workday
WDAY
$44.4B
$704K 0.01%
2,924
+1,282
+78% +$296K
AMT icon
471
American Tower
AMT
$80.4B
$704K 0.01%
+3,660
New +$763K
EAT icon
472
Brinker International
EAT
$9.66B
$703K 0.01%
5,552
-12,844
-70% -$2M
JNJ icon
473
Johnson & Johnson
JNJ
$625B
$702K 0.01%
3,787
-6,918
-65% -$1.19M
MDB icon
474
MongoDB
MDB
$32.1B
$702K 0.01%
2,262
-12,286
-84% -$3.16M
LPG icon
475
Dorian LPG
LPG
$1.96B
$701K 0.01%
23,515
+1,146
+5% +$34.4K
17 18
19
20 21

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BOK
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ZP
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AP
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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.