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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
CHEF icon
976
Chefs' Warehouse
CHEF
$4.44B
$229K ﹤0.01%
+3,923
New +$250K
GAU
977
Galiano Gold
GAU
$522M
$228K ﹤0.01%
+104,243
New +$195K
CURI icon
978
CuriosityStream
CURI
$166M
$228K ﹤0.01%
43,013
+15,891
+59% +$73.2K
TLS icon
979
Telos
TLS
$302M
$228K ﹤0.01%
33,323
-9,516
-22% -$45.5K
SPXC icon
980
SPX Corp
SPXC
$10.6B
$227K ﹤0.01%
+1,216
New +$225K
MTCH icon
981
Match Group
MTCH
$8.43B
$226K ﹤0.01%
+6,409
New +$229K
GTN icon
982
Gray Television
GTN
$512M
$225K ﹤0.01%
38,914
-33,866
-47% -$184K
GIC icon
983
Global Industrial
GIC
$1.52B
$225K ﹤0.01%
+6,133
New +$206K
PHR icon
984
Phreesia
PHR
$769M
$224K ﹤0.01%
9,538
-20,679
-68% -$562K
PEB icon
985
Pebblebrook Hotel Trust
PEB
$2B
$224K ﹤0.01%
+19,689
New +$212K
MMSI icon
986
Merit Medical Systems
MMSI
$5.36B
$224K ﹤0.01%
+2,689
New +$234K
ROKU icon
987
Roku
ROKU
$22.5B
$223K ﹤0.01%
2,226
-12,632
-85% -$1.17M
CMA
988
DELISTED
Comerica
CMA
$222K ﹤0.01%
+3,236
New +$218K
AMRN
989
Amarin Corp
AMRN
$298M
$221K ﹤0.01%
+13,520
New +$210K
GRAL
990
GRAIL Inc
GRAL
$3.34B
$221K ﹤0.01%
+3,745
New +$143K
KALU icon
991
Kaiser Aluminum
KALU
$3.06B
$220K ﹤0.01%
+2,854
New +$227K
SHC icon
992
Sotera Health
SHC
$5.41B
$220K ﹤0.01%
+13,992
New +$196K
ALB icon
993
Albemarle
ALB
$15.5B
$219K ﹤0.01%
2,704
-69,146
-96% -$5.33M
OUST icon
994
Ouster
OUST
$2.84B
$219K ﹤0.01%
+8,098
New +$226K
MT icon
995
ArcelorMittal
MT
$55.7B
$219K ﹤0.01%
+6,055
New +$204K
JELD icon
996
JELD-WEN Holding
JELD
$162M
$219K ﹤0.01%
44,551
-73,428
-62% -$393K
MRX
997
Marex Group Limited Ordinary Shares
MRX
$4.36B
$219K ﹤0.01%
6,501
-39,395
-86% -$1.42M
GCMG icon
998
GCM Grosvenor
GCMG
$834M
$218K ﹤0.01%
+18,084
New +$224K
MXL icon
999
MaxLinear
MXL
$6.21B
$218K ﹤0.01%
13,536
-23,433
-63% -$368K
SEMR
1000
DELISTED
Semrush
SEMR
$217K ﹤0.01%
30,710
-8,025
-21% -$65.4K
38 39
40
41 42

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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.