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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
AMTB icon
1026
Amerant Bancorp
AMTB
$1.12B
$204K ﹤0.01%
10,608
-906
-8% -$18.3K
KRNY icon
1027
Kearny Financial
KRNY
$595M
$204K ﹤0.01%
31,084
+485
+2% +$3.11K
SNOW icon
1028
PUT
Snowflake
SNOW
$116B
$203K ﹤0.01%
+900
New +$193K
AVIR icon
1029
Atea Pharmaceuticals
AVIR
$402M
$203K ﹤0.01%
69,990
+45,166
+182% +$154K
CRMT icon
1030
America's Car Mart
CRMT
$26.1M
$203K ﹤0.01%
+6,948
New +$314K
WLDN icon
1031
Willdan Group
WLDN
$1.24B
$202K ﹤0.01%
2,089
-3,054
-59% -$289K
AEE icon
1032
Ameren
AEE
$29.6B
$202K ﹤0.01%
1,932
-74,010
-97% -$7.39M
AVPT icon
1033
AvePoint
AVPT
$2.75B
$202K ﹤0.01%
+13,433
New +$226K
EXPO icon
1034
Exponent
EXPO
$3.28B
$201K ﹤0.01%
2,888
-3,213
-53% -$230K
OMC icon
1035
Omnicom Group
OMC
$23.2B
$200K ﹤0.01%
+2,459
New +$186K
ABR icon
1036
Arbor Realty Trust
ABR
$1,000M
$200K ﹤0.01%
+16,378
New +$191K
ZIP icon
1037
ZipRecruiter
ZIP
$414M
$200K ﹤0.01%
+47,316
New +$221K
HMY icon
1038
Harmony Gold Mining
HMY
$12.4B
$199K ﹤0.01%
10,967
-86,445
-89% -$1.31M
MEI icon
1039
Methode Electronics
MEI
$581M
$198K ﹤0.01%
26,272
-6,468
-20% -$48.1K
GROY icon
1040
Gold Royalty Corp
GROY
$711M
$197K ﹤0.01%
+51,080
New +$158K
ADAM
1041
Adamas Trust
ADAM
$880M
$197K ﹤0.01%
28,234
+13,584
+93% +$94.4K
PRTH icon
1042
Priority Technology Holdings
PRTH
$431M
$195K ﹤0.01%
+28,377
New +$214K
ACRE
1043
Ares Commercial Real Estate
ACRE
$256M
$195K ﹤0.01%
43,160
-28,368
-40% -$132K
AHCO icon
1044
AdaptHealth
AHCO
$696M
$194K ﹤0.01%
+21,676
New +$201K
PERI icon
1045
Perion Network
PERI
$386M
$193K ﹤0.01%
+20,111
New +$201K
SLQT icon
1046
SelectQuote
SLQT
$123M
$192K ﹤0.01%
98,136
-26,497
-21% -$56K
SSP icon
1047
E.W. Scripps
SSP
$305M
$192K ﹤0.01%
78,094
+20,316
+35% +$62.6K
BGC icon
1048
BGC Group
BGC
$4.86B
$192K ﹤0.01%
+20,257
New +$203K
KRP icon
1049
Kimbell Royalty Partners
KRP
$1.49B
$192K ﹤0.01%
14,197
-8,930
-39% -$126K
HCKT icon
1050
Hackett Group
HCKT
$279M
$191K ﹤0.01%
+10,038
New +$219K
40 41
42
43 44

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BOK
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ZP
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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.