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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
NWBI icon
451
Northwest Bancshares
NWBI
$2.28B
$744K 0.02%
+62,032
New +$755K
PLYM
452
DELISTED
Plymouth Industrial REIT
PLYM
$744K 0.02%
+34,017
New +$747K
LEG icon
453
Leggett & Platt
LEG
$1.31B
$742K 0.02%
67,477
-83,875
-55% -$825K
COUR icon
454
Coursera
COUR
$1.54B
$741K 0.02%
100,747
-154,398
-61% -$1.34M
WYNN icon
455
Wynn Resorts
WYNN
$10.6B
$739K 0.02%
+6,138
New +$759K
ZWS icon
456
Zurn Elkay Water Solutions
ZWS
$8.53B
$737K 0.02%
15,848
+1,801
+13% +$84.5K
TECH icon
457
Bio-Techne
TECH
$11.3B
$734K 0.02%
+12,485
New +$759K
WPM icon
458
Wheaton Precious Metals
WPM
$60.9B
$734K 0.02%
+6,244
New +$669K
RIG icon
459
Transocean
RIG
$5.82B
$734K 0.02%
177,632
-37,624
-17% -$146K
DNA icon
460
Ginkgo Bioworks
DNA
$521M
$732K 0.02%
+88,038
New +$948K
LSTR icon
461
Landstar System
LSTR
$6.21B
$727K 0.02%
5,060
+567
+13% +$75.5K
ACM icon
462
Aecom
ACM
$9.75B
$724K 0.02%
7,597
-45
-0.6% -$5.29K
UE icon
463
Urban Edge Properties
UE
$2.73B
$723K 0.02%
37,701
-7,346
-16% -$143K
MQ icon
464
Marqeta
MQ
$1.66B
$723K 0.02%
38,029
-24,388
-39% -$469K
PLD icon
465
Prologis
PLD
$133B
$722K 0.02%
5,653
-4,188
-43% -$522K
DOCS icon
466
Doximity
DOCS
$4.88B
$720K 0.02%
16,252
+10,391
+177% +$583K
IMAX icon
467
IMAX
IMAX
$2.66B
$720K 0.02%
19,467
-4,916
-20% -$171K
AA icon
468
Alcoa
AA
$13.2B
$715K 0.02%
13,452
-50,727
-79% -$2.08M
JXN icon
469
Jackson Financial
JXN
$8.8B
$712K 0.02%
6,677
-7,404
-53% -$736K
FWONA icon
470
Liberty Media Series A
FWONA
$23.6B
$712K 0.02%
7,963
+1,315
+20% +$118K
PARR icon
471
Par Pacific Holdings
PARR
$3.32B
$709K 0.02%
20,169
+6,440
+47% +$256K
DYN icon
472
Dyne Therapeutics
DYN
$4.9B
$707K 0.02%
36,167
-7,009
-16% -$133K
LOPE icon
473
Grand Canyon Education
LOPE
$3.98B
$707K 0.02%
4,252
-499
-11% -$90.3K
BLK icon
474
Blackrock
BLK
$176B
$705K 0.02%
+659
New +$720K
BHE icon
475
Benchmark Electronics
BHE
$2.96B
$705K 0.02%
16,487
+3,641
+28% +$158K
17 18
19
20 21

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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.