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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
DXCM icon
826
DexCom
DXCM
$33.1B
$312K ﹤0.01%
+4,640
New +$367K
ONTO icon
827
Onto Innovation
ONTO
$14.5B
$312K ﹤0.01%
+2,413
New +$258K
ACIW icon
828
ACI Worldwide
ACIW
$5.34B
$311K ﹤0.01%
5,897
-34,711
-85% -$1.64M
LIND icon
829
Lindblad Expeditions
LIND
$2.16B
$309K ﹤0.01%
24,173
-8,133
-25% -$107K
DXC icon
830
DXC Technology
DXC
$1.74B
$308K ﹤0.01%
22,573
-105,634
-82% -$1.5M
CGTX icon
831
Cognition Therapeutics
CGTX
$94M
$306K ﹤0.01%
+226,557
New +$309K
EWTX icon
832
Edgewise Therapeutics
EWTX
$4.84B
$305K ﹤0.01%
18,789
-21,575
-53% -$306K
PECO icon
833
Phillips Edison & Co
PECO
$5.15B
$304K ﹤0.01%
8,854
-19,350
-69% -$670K
LSCC icon
834
Lattice Semiconductor
LSCC
$18.2B
$304K ﹤0.01%
4,140
-20,131
-83% -$1.22M
FCPT icon
835
Four Corners Property Trust
FCPT
$2.69B
$302K ﹤0.01%
12,386
+3,919
+46% +$101K
EQT icon
836
EQT Corp
EQT
$33.8B
$302K ﹤0.01%
5,545
-63,398
-92% -$3.35M
SUPV
837
Grupo Supervielle
SUPV
$742M
$302K ﹤0.01%
+60,928
New +$531K
ILMN icon
838
Illumina
ILMN
$29B
$301K ﹤0.01%
+3,174
New +$315K
BHC icon
839
Bausch Health
BHC
$2.37B
$301K ﹤0.01%
46,650
+8,723
+23% +$59.6K
PKE icon
840
Park Aerospace
PKE
$801M
$301K ﹤0.01%
+14,793
New +$268K
PAR icon
841
PAR Technology
PAR
$751M
$301K ﹤0.01%
7,598
+389
+5% +$21.5K
AGO icon
842
Assured Guaranty
AGO
$3.36B
$301K ﹤0.01%
3,550
+878
+33% +$73K
CRBU icon
843
Caribou Biosciences
CRBU
$165M
$299K ﹤0.01%
+128,352
New +$242K
SXC icon
844
SunCoke Energy
SXC
$799M
$299K ﹤0.01%
36,613
-72,373
-66% -$577K
EPRT icon
845
Essential Properties Realty Trust
EPRT
$6.53B
$299K ﹤0.01%
10,034
-6,981
-41% -$214K
GPMT
846
Granite Point Mortgage Trust
GPMT
$59.8M
$298K ﹤0.01%
99,498
+30,484
+44% +$84.2K
MKTX icon
847
MarketAxess Holdings
MKTX
$5.72B
$298K ﹤0.01%
1,708
-6,330
-79% -$1.24M
OSIS icon
848
OSI Systems
OSIS
$3.83B
$298K ﹤0.01%
+1,194
New +$273K
ACIC icon
849
American Coastal Insurance
ACIC
$470M
$296K ﹤0.01%
25,973
+2,615
+11% +$28.5K
VNO icon
850
Vornado Realty Trust
VNO
$7.26B
$296K ﹤0.01%
+7,298
New +$284K
32 33
34
35 36

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BOK
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ZP
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AP
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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.