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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
SSNC icon
726
SS&C Technologies
SSNC
$18.7B
$372K 0.01%
+4,256
New +$363K
SFM icon
727
Sprouts Farmers Market
SFM
$8.06B
$371K 0.01%
4,654
-16,928
-78% -$1.52M
LIF
728
Life360
LIF
$5.07B
$371K 0.01%
+5,780
New +$480K
WDC icon
729
Western Digital
WDC
$152B
$371K 0.01%
2,152
-12,067
-85% -$1.83M
PDM
730
Piedmont Realty Trust
PDM
$1.15B
$371K 0.01%
44,442
+16,527
+59% +$138K
FRO icon
731
Frontline
FRO
$8.6B
$370K 0.01%
16,969
+6,333
+60% +$148K
BR icon
732
Broadridge
BR
$19.4B
$368K 0.01%
+1,651
New +$377K
NUVL
733
DELISTED
Nuvalent
NUVL
$368K 0.01%
3,654
-21
-0.6% -$2.07K
SNBR
734
DELISTED
Sleep Number
SNBR
$367K 0.01%
43,391
+6,799
+19% +$43K
TTEK icon
735
Tetra Tech
TTEK
$9.1B
$367K 0.01%
10,939
-4,064
-27% -$137K
GLOB icon
736
Globant
GLOB
$1.62B
$366K 0.01%
+5,604
New +$352K
BLDP
737
Ballard Power Systems
BLDP
$763M
$366K 0.01%
144,145
+43,941
+44% +$136K
TOST icon
738
Toast
TOST
$20.4B
$365K 0.01%
10,279
-6,412
-38% -$231K
SOFI icon
739
SoFi Technologies
SOFI
$23.3B
$364K 0.01%
13,895
-145,799
-91% -$4.06M
FIGS icon
740
FIGS
FIGS
$2.38B
$363K 0.01%
31,981
-58,950
-65% -$552K
EPC icon
741
Edgewell Personal Care
EPC
$1.28B
$362K 0.01%
+21,206
New +$392K
HAFC icon
742
Hanmi Financial
HAFC
$937M
$362K 0.01%
+13,375
New +$358K
IDT icon
743
IDT Corp
IDT
$1.61B
$360K 0.01%
7,037
+1,740
+33% +$87.2K
TDOC icon
744
Teladoc Health
TDOC
$1.3B
$359K 0.01%
+51,313
New +$402K
XPRO icon
745
Expro Ltd
XPRO
$1.94B
$359K 0.01%
26,900
-9,125
-25% -$123K
TWO
746
Two Harbors Investment
TWO
$1.27B
$359K 0.01%
34,164
-26,431
-44% -$264K
ASPI icon
747
ASP Isotopes
ASPI
$540M
$358K 0.01%
+66,998
New +$533K
LIND icon
748
Lindblad Expeditions
LIND
$2.19B
$357K 0.01%
24,763
+590
+2% +$7.44K
WASH icon
749
Washington Trust Bancorp
WASH
$738M
$356K 0.01%
12,056
-2,138
-15% -$60.8K
DOCN icon
750
DigitalOcean
DOCN
$15.4B
$356K 0.01%
+7,401
New +$326K
28 29
30
31 32

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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.