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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 7.52%
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
ONEW icon
676
OneWater Marine
ONEW
$201M
$418K 0.01%
38,642
+11,396
+42% +$152K
ZIM icon
677
ZIM Integrated Shipping Services
ZIM
$3.24B
$418K 0.01%
19,686
+6,595
+50% +$111K
AMC icon
678
AMC Entertainment Holdings
AMC
$2.31B
$418K 0.01%
267,758
+116,036
+76% +$277K
OOMA icon
679
Ooma
OOMA
$604M
$417K 0.01%
35,588
+6,841
+24% +$78K
MEI icon
680
Methode Electronics
MEI
$592M
$416K 0.01%
62,631
+36,359
+138% +$258K
VITL icon
681
Vital Farms
VITL
$525M
$415K 0.01%
13,004
-228
-2% -$8.02K
ALHC icon
682
Alignment Healthcare
ALHC
$2.98B
$414K 0.01%
+20,969
New +$377K
BOW
683
Bowhead Specialty Holdings
BOW
$1.1B
$411K 0.01%
14,400
+1,770
+14% +$47K
AIP icon
684
Arteris
AIP
$1.38B
$411K 0.01%
+26,488
New +$384K
ECG
685
Everus Construction Group
ECG
$6.99B
$410K 0.01%
+4,794
New +$429K
FDS icon
686
Factset
FDS
$10.2B
$410K 0.01%
1,412
+26
+2% +$7.3K
LMAT icon
687
LeMaitre Vascular
LMAT
$1.86B
$410K 0.01%
5,050
-2,089
-29% -$180K
CTGO icon
688
Contango Silver & Gold Inc
CTGO
$652M
$409K 0.01%
15,487
+3,809
+33% +$93.2K
ULTA icon
689
Ulta Beauty
ULTA
$24.3B
$408K 0.01%
+675
New +$371K
FROG icon
690
JFrog
FROG
$10.8B
$408K 0.01%
6,525
+1,582
+32% +$90K
NWN icon
691
Northwest Natural Holdings
NWN
$2.12B
$407K 0.01%
+8,711
New +$406K
ONT
692
Onterris Inc
ONT
$580M
$406K 0.01%
16,342
+1,382
+9% +$36.5K
REAL icon
693
The RealReal
REAL
$1.5B
$405K 0.01%
+25,646
New +$335K
UPST icon
694
Upstart Holdings
UPST
$3.03B
$404K 0.01%
9,230
+1,553
+20% +$71.5K
OMDA
695
Omada Health Inc
OMDA
$1.41B
$404K 0.01%
+25,573
New +$519K
HBNC icon
696
Horizon Bancorp
HBNC
$1.04B
$403K 0.01%
23,750
+2,805
+13% +$46.5K
LCII icon
697
LCI Industries
LCII
$2.65B
$402K 0.01%
+3,317
New +$353K
FRSH icon
698
Freshworks
FRSH
$3.27B
$402K 0.01%
32,854
-77,178
-70% -$912K
FSLY icon
699
Fastly Inc
FSLY
$3.66B
$400K 0.01%
+39,335
New +$388K
GNK icon
700
Genco Shipping & Trading
GNK
$1.1B
$398K 0.01%
21,594
-4,669
-18% -$82K
26 27
28
29 30

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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.