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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 3.82%
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
SOLV icon
726
Solventum
SOLV
$14.6B
$376K 0.01%
+5,150
New +$378K
BLFS icon
727
BioLife Solutions
BLFS
$1.69B
$375K 0.01%
14,716
-9,231
-39% -$219K
NWG icon
728
NatWest
NWG
$76.2B
$372K 0.01%
26,290
-220,529
-89% -$3.11M
UPWK icon
729
Upwork
UPWK
$1.21B
$372K 0.01%
20,031
-106,144
-84% -$1.58M
SSRM icon
730
SSR Mining
SSRM
$6.41B
$371K 0.01%
15,197
-157,320
-91% -$2.66M
FFIV icon
731
F5
FFIV
$23.4B
$371K 0.01%
+1,148
New +$359K
KRG icon
732
Kite Realty
KRG
$5.28B
$371K 0.01%
+16,636
New +$371K
HLIO icon
733
Helios Technologies
HLIO
$2.71B
$370K 0.01%
+7,095
New +$331K
WRBY icon
734
Warby Parker
WRBY
$3.23B
$369K 0.01%
+13,382
New +$338K
TEAM icon
735
Atlassian
TEAM
$38.8B
$369K 0.01%
2,308
-26,480
-92% -$4.79M
KRUS icon
736
Kura Sushi USA
KRUS
$583M
$367K 0.01%
+6,174
New +$492K
SHLS icon
737
Shoals Technologies Group
SHLS
$1.44B
$366K 0.01%
49,336
-7,808
-14% -$48K
OEC icon
738
Orion
OEC
$394M
$365K 0.01%
+48,212
New +$487K
GOGO icon
739
Gogo Inc
GOGO
$449M
$364K 0.01%
+42,363
New +$537K
EBAY icon
740
CALL
eBay
EBAY
$48.6B
$364K 0.01%
+4,000
New +$354K
GEF icon
741
Greif
GEF
$4.99B
$363K 0.01%
+6,073
New +$392K
BMA icon
742
Banco Macro
BMA
$5.35B
$361K 0.01%
+8,527
New +$521K
HCI icon
743
HCI Group
HCI
$2.35B
$360K 0.01%
1,875
-1,445
-44% -$229K
SIBN icon
744
SI-BONE Inc
SIBN
$847M
$359K 0.01%
24,400
+570
+2% +$9.31K
HESM icon
745
Hess Midstream
HESM
$5.22B
$359K 0.01%
+10,387
New +$412K
TTEC icon
746
TTEC Holdings
TTEC
$117M
$358K 0.01%
106,661
+66,643
+167% +$273K
WIX icon
747
WIX.com
WIX
$2.58B
$358K 0.01%
+2,014
New +$303K
LB
748
LandBridge Co
LB
$2.24B
$357K 0.01%
+6,690
New +$369K
LILAK icon
749
Liberty Latin America Class C
LILAK
$1.67B
$357K 0.01%
46,505
-35,958
-44% -$245K
NVRI icon
750
Enviri
NVRI
$614M
$356K 0.01%
+28,061
New +$290K
28 29
30
31 32

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SP
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BOK
Bank of Korea Seoul, South Korea $4.13B AUM
ZP
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SHCM
Sachem Head Capital Management New York $4.15B AUM 48.05% 1-Year Est. Return
AP
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BHC
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BG
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CA
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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.