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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
NG icon
751
NovaGold Resources
NG
$3.37B
$356K 0.01%
40,455
-8,624
-18% -$52.7K
OMCL icon
752
Omnicell
OMCL
$1.7B
$354K 0.01%
11,640
-8,526
-42% -$262K
PFS icon
753
Provident Financial Services
PFS
$3.16B
$354K 0.01%
+18,382
New +$351K
WGO icon
754
Winnebago Industries
WGO
$906M
$354K 0.01%
10,597
-13,239
-56% -$437K
DCTH icon
755
Delcath Systems
DCTH
$575M
$354K 0.01%
32,958
+14,400
+78% +$161K
UDMY
756
DELISTED
Udemy
UDMY
$354K 0.01%
50,529
-74,738
-60% -$524K
TRNS icon
757
Transcat
TRNS
$851M
$354K 0.01%
+4,838
New +$390K
SRAD icon
758
Sportradar
SRAD
$3.95B
$352K 0.01%
13,076
– –
ICLR icon
759
Icon
ICLR
$12.9B
$352K 0.01%
2,009
-2,125
-51% -$356K
AN icon
760
AutoNation
AN
$6.9B
$352K 0.01%
+1,607
New +$339K
COGT icon
761
Cogent Biosciences
COGT
$7.05B
$352K 0.01%
24,480
+13,152
+116% +$156K
GO icon
762
Grocery Outlet
GO
$970M
$351K 0.01%
+21,882
New +$349K
DDOG icon
763
Datadog
DDOG
$92.9B
$351K 0.01%
+2,464
New +$339K
AVAH icon
764
Aveanna Healthcare
AVAH
$2.06B
$351K 0.01%
39,539
+9,687
+32% +$61.2K
FCNCA icon
765
First Citizens BancShares
FCNCA
$25.5B
$351K 0.01%
+196
New +$386K
GTY
766
Getty Realty Corp
GTY
$2.02B
$350K 0.01%
+13,060
New +$364K
XP icon
767
XP
XP
$8.38B
$348K 0.01%
18,521
-98,422
-84% -$1.76M
SPGI icon
768
S&P Global
SPGI
$121B
$348K 0.01%
715
-2,026
-74% -$1.08M
ARDT
769
Ardent Health
ARDT
$1.57B
$347K 0.01%
26,199
-10,581
-29% -$132K
CMTG icon
770
Claros Mortgage Trust
CMTG
$251M
$347K 0.01%
104,466
+12,066
+13% +$40.6K
MCHB
771
Mechanics Bancorp
MCHB
$3.7B
$347K 0.01%
+26,037
New +$346K
UCB
772
United Community Banks
UCB
$4.25B
$346K 0.01%
11,029
-33,290
-75% -$1.05M
SFD
773
Smithfield Foods
SFD
$9.57B
$346K 0.01%
+14,715
New +$360K
COTY icon
774
Coty
COTY
$2.52B
$345K 0.01%
+85,385
New +$391K
OOMA icon
775
Ooma
OOMA
$593M
$345K 0.01%
28,747
+16,933
+143% +$207K
29 30
31
32 33

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BOK
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ZP
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SHCM
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AP
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BHC
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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.