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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
(-4.5%)
Cap. Flow
-$1.27B
Cap. Flow
% of AUM
-20.09%
Top 10 Holdings %
Top 10 Hldgs %
55.44%
Holding
1,726
New
458
Increased
249
Reduced
476
Closed
529
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
VanEck Gold Miners ETF
GDX
|
+$42.9M |
| 2 |
State Street Industrial Select Sector SPDR ETF
XLI
|
+$20.3M |
| 3 |
iShares Russell 2000 ETF
IWM
|
+$13.4M |
| 4 |
BridgeBio Pharma
BBIO
|
+$12.4M |
| 5 |
iShares MSCI South Korea ETF
EWY
|
+$12.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$16M |
| 2 |
iShares Bitcoin Trust
IBIT
|
+$15.8M |
| 3 |
Caterpillar
CAT
|
+$15.8M |
| 4 |
Intercontinental Exchange
ICE
|
+$13.1M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
1151
Definitive Healthcare
DH
$73.7M
| $88.5K | ﹤0.01% |
+21,809
| New | +$87.1K |
|
1152
Evolution Petroleum
EPM
$134M
| $88.5K | ﹤0.01% |
18,352
+8,183
| +80% | +$40.8K |
|
1153
CALL
First Solar
FSLR
$25.7B
| $88.2K | ﹤0.01% |
+400
| New | +$76.8K |
|
1154
Future Fuel
FF
$226M
| $86.5K | ﹤0.01% |
22,281
+10,526
| +90% | +$41.5K |
|
1155
Zevia
ZVIA
$108M
| $85K | ﹤0.01% |
+31,266
| New | +$90K |
|
1156
Cosan
CSAN
$2.68B
| $85K | ﹤0.01% |
18,478
-70,388
| -79% | -$325K |
|
1157
Epsilon Energy
EPSN
$176M
| $85K | ﹤0.01% |
+16,861
| New | +$102K |
|
1158
eHealth
EHTH
$40.4M
| $85K | ﹤0.01% |
19,712
-16,345
| -45% | -$62.8K |
|
|
CMPS
1159
Compass Pathways
CMPS
$1.78B
| $83.8K | ﹤0.01% |
14,624
-4,589
| -24% | -$20.6K |
|
1160
ARKO Corp
ARKO
$527M
| $82.8K | ﹤0.01% |
+18,109
| New | +$85.5K |
|
1161
Westrock Coffee
WEST
$797M
| $79.3K | ﹤0.01% |
+16,323
| New | +$98.2K |
|
|
CLDT
1162
Chatham Lodging
CLDT
$580M
| $73.1K | ﹤0.01% |
+10,900
| New | +$78K |
|
1163
iHeartMedia
IHRT
$561M
| $73K | ﹤0.01% |
25,423
-85,947
| -77% | -$190K |
|
|
SVM
1164
Silvercorp Metals
SVM
$2.7B
| $70K | ﹤0.01% |
+11,080
| New | +$54.2K |
|
1165
KRONOS Worldwide
KRO
$977M
| $69K | ﹤0.01% |
+12,028
| New | +$72.8K |
|
1166
Pangaea Logistics
PANL
$479M
| $68.2K | ﹤0.01% |
+13,429
| New | +$69.5K |
|
1167
Lantronix
LTRX
$256M
| $67.9K | ﹤0.01% |
+14,853
| New | +$54.9K |
|
1168
Nkarta
NKTX
$176M
| $67.1K | ﹤0.01% |
+32,400
| New | +$66.5K |
|
|
PGRE
1169
DELISTED
Paramount Group
PGRE
| $66.2K | ﹤0.01% |
+10,116
| New | +$67.3K |
|
1170
Accuray
ARAY
$34.9M
| $66.1K | ﹤0.01% |
+39,571
| New | +$58.5K |
|
1171
Alector
ALEC
$189M
| $62.8K | ﹤0.01% |
21,215
-158
| -0.7% | -$348 |
|
1172
One Stop Systems
OSS
$315M
| $62.7K | ﹤0.01% |
+11,706
| New | +$64.1K |
|
1173
Arbutus Biopharma
ABUS
$907M
| $60.2K | ﹤0.01% |
+13,265
| New | +$48.7K |
|
1174
Novavax
NVAX
$1.3B
| $59.5K | ﹤0.01% |
6,864
-27,130
| -80% | -$211K |
|
1175
Mega Matrix
MPU
$14.7M
| $58.5K | ﹤0.01% |
+48,726
| New | +$114K |
|
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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.