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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
+8.47%
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
$6.62B
AUM Growth
+$902M
Cap. Flow
+$1.08B
Cap. Flow %
16.3%
Top 10 Hldgs %
50.26%
Holding
1,697
New
464
Increased
345
Reduced
451
Closed
433

Top Buys

Rank Stock Value
1
IBIT icon
iShares Bitcoin Trust
IBIT
+$19.3M
2
VTV icon
Vanguard Morningstar Value ETF
VTV
+$18.6M
3
ICE icon
Intercontinental Exchange
ICE
+$14.5M
4
EEM icon
iShares MSCI Emerging Markets ETF
EEM
+$14.3M
5
MNST icon
Monster Beverage
MNST
+$13.3M

Top Sells

Rank Stock Value
1
C icon
Citigroup
C
+$16.9M
2
JNJ icon
Johnson & Johnson
JNJ
+$16M
3
ICOW icon
Pacer Developed Markets International Cash Cows 100 ETF
ICOW
+$15.6M
4
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$14.5M
5
VUG icon
Vanguard Morningstar Growth ETF
VUG
+$10.8M

Sector Composition

Rank Sector Weight
1 Technology 5.74%
2 Financials 5.16%
3 Industrials 4.35%
4 Consumer Discretionary 3.72%
5 Healthcare 3.09%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HOUS
1001
DELISTED
Anywhere Real Estate
HOUS
$282K ﹤0.01%
77,937
-23,915
-23% -$83.4K
DMRC icon
1002
Digimarc Corp
DMRC
$178M
$281K ﹤0.01%
21,266
-5,596
-21% -$71.8K
OVV icon
1003
Ovintiv
OVV
$16.4B
$281K ﹤0.01%
7,375
-4,524
-38% -$166K
PATH icon
1004
UiPath
PATH
$7.8B
$279K ﹤0.01%
21,768
-143,504
-87% -$1.72M
ECHO
1005
EchoStar
ECHO
$26.2B
$278K ﹤0.01%
10,049
-74,052
-88% -$1.63M
NAT icon
1006
Nordic American Tanker
NAT
$1.37B
$277K ﹤0.01%
+105,318
New +$275K
TERN
1007
DELISTED
Terns Pharmaceuticals
TERN
$276K ﹤0.01%
73,968
-152,327
-67% -$476K
PTGX icon
1008
Protagonist Therapeutics
PTGX
$9.44B
$275K ﹤0.01%
+4,979
New +$239K
JACK icon
1009
Jack in the Box
JACK
$335M
$275K ﹤0.01%
+15,742
New +$354K
RPC
1010
Ridgepost Capital
RPC
$991M
$272K ﹤0.01%
26,623
-40,859
-61% -$438K
ZYME icon
1011
Zymeworks
ZYME
$1.67B
$272K ﹤0.01%
+21,660
New +$258K
CRS icon
1012
Carpenter Technology
CRS
$28.4B
$270K ﹤0.01%
977
-2,666
-73% -$581K
GDRX icon
1013
GoodRx Holdings
GDRX
$1.26B
$270K ﹤0.01%
54,145
+21,069
+64% +$91.5K
OBE
1014
Obsidian Energy
OBE
$662M
$268K ﹤0.01%
+48,284
New +$239K
TWFG
1015
TWFG Inc
TWFG
$378M
$267K ﹤0.01%
7,635
-2,409
-24% -$80.3K
NXDR
1016
Nextdoor Holdings
NXDR
$986M
$266K ﹤0.01%
160,298
-39,593
-20% -$59.7K
WSFS icon
1017
WSFS Financial
WSFS
$4.15B
$266K ﹤0.01%
4,828
-29,051
-86% -$1.51M
IPI icon
1018
Intrepid Potash
IPI
$469M
$265K ﹤0.01%
+7,427
New +$253K
CMTG icon
1019
Claros Mortgage Trust
CMTG
$274M
$263K ﹤0.01%
92,400
+43,773
+90% +$117K
FFWM
1020
DELISTED
First Foundation Inc
FFWM
$262K ﹤0.01%
51,439
-29,829
-37% -$153K
OLN icon
1021
Olin
OLN
$2.12B
$262K ﹤0.01%
+13,032
New +$271K
PLOW icon
1022
Douglas Dynamics
PLOW
$1.02B
$261K ﹤0.01%
8,846
-8,236
-48% -$217K
KINS icon
1023
Kingstone Companies
KINS
$276M
$261K ﹤0.01%
16,915
+4,191
+33% +$69.5K
ACIC icon
1024
American Coastal Insurance
ACIC
$493M
$260K ﹤0.01%
23,358
-13,107
-36% -$144K
EXTR icon
1025
Extreme Networks
EXTR
$3.15B
$260K ﹤0.01%
+14,470
New +$213K
39 40
41
42 43

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Graham Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, Graham Capital Management held 1,697 positions worth $6.62B, up 16% from $5.72B the previous quarter. Its ten largest holdings account for 50% of the portfolio.

Graham Capital Management deployed $1.08B of net new capital in Q2 2025, opening 464 new positions and adding to 345 existing holdings. Its largest new stake was Vanguard Morningstar Value ETF: 110,000 shares worth $19.4M.

By sector, the portfolio is most concentrated in Technology at 5.7% of assets, up from 5.5% a quarter earlier, followed by Financials and Industrials.

On the sell side, the largest reduction was Citigroup, an estimated $16.9M trimmed.

  • Graham Capital Management's largest Q2 2025 buy was Vanguard Morningstar Value ETF: 110,000 shares worth $19.4M.
  • Graham Capital Management added most to iShares Bitcoin Trust in Q2 2025, an estimated $19.3M increase.
  • Graham Capital Management's biggest Q2 2025 reduction was Citigroup, cutting an estimated $16.9M.
  • Graham Capital Management fully exited Pacer Developed Markets International Cash Cows 100 ETF in Q2 2025, selling an estimated $15.6M.
  • Graham Capital Management's ten largest holdings make up 50% of its $6.62B portfolio in Q2 2025.
  • Graham Capital Management opened 464 new positions and closed 433 in Q2 2025.
  • Graham Capital Management's portfolio value rose 16% quarter-over-quarter to $6.62B.

Based on Graham Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.