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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 | |
|---|---|---|---|---|---|---|
1176
PUT
Oracle
ORCL
$435B
| $56.2K | ﹤0.01% |
+200
| New | +$50.9K |
|
1177
Blue Ridge Bankshares
BRBS
$334M
| $55.7K | ﹤0.01% |
+13,169
| New | +$51K |
|
|
MPT
1178
Medical Properties Trust
MPT
$2.48B
| $54.7K | ﹤0.01% |
10,797
-334,882
| -97% | -$1.48M |
|
1179
PUT
Upstart Holdings
UPST
$2.94B
| $50.8K | ﹤0.01% |
+1,000
| New | +$70.3K |
|
|
SEI
1180
CALL
Solaris Energy Infrastructure
SEI
$3.86B
| $48K | ﹤0.01% |
+1,200
| New | +$37.5K |
|
1181
BRC Inc
BRCC
$216M
| $43.8K | ﹤0.01% |
28,057
-83,517
| -75% | -$134K |
|
1182
MaxCyte
MXCT
$130M
| $41.7K | ﹤0.01% |
+26,406
| New | +$45.9K |
|
|
ESPR
1183
DELISTED
Esperion Therapeutics
ESPR
| $40.1K | ﹤0.01% |
+15,114
| New | +$29.2K |
|
1184
OraSure Technologies
OSUR
$275M
| $36K | ﹤0.01% |
11,206
-33,301
| -75% | -$105K |
|
1185
Advantage Solutions
ADV
$383M
| $35.3K | ﹤0.01% |
+923
| New | +$38.4K |
|
1186
Traeger
COOK
$172M
| $35.1K | ﹤0.01% |
+575
| New | +$44K |
|
1187
Cerus
CERS
$508M
| $33.4K | ﹤0.01% |
21,010
-146,406
| -87% | -$198K |
|
1188
PUT
Kohl's
KSS
$2.16B
| $30.7K | ﹤0.01% |
+2,000
| New | +$26.7K |
|
1189
Nerdy
NRDY
$93.5M
| $29.9K | ﹤0.01% |
+23,765
| New | +$34K |
|
1190
Health Catalyst
HCAT
$127M
| $28.8K | ﹤0.01% |
+10,098
| New | +$34.6K |
|
1191
Entravision Communication
EVC
$1.08B
| $26.9K | ﹤0.01% |
11,525
-1,235
| -10% | -$3K |
|
|
MAPS
1192
DELISTED
WM TECHNOLOGY INC A
MAPS
| $26.1K | ﹤0.01% |
+22,470
| New | +$24.3K |
|
|
FSP
1193
Franklin Street Properties
FSP
$45.3M
| $19.1K | ﹤0.01% |
11,911
-362
| -3% | -$600 |
|
1194
Advance Auto Parts
AAP
$3.36B
| – | – |
-13,175
| Closed | -$613K |
|
1195
Absci
ABSI
$1.53B
| – | – |
-76,276
| Closed | -$196K |
|
1196
Acco Brands
ACCO
$402M
| – | – |
-106,678
| Closed | -$382K |
|
1197
Archer Aviation
ACHR
$4.78B
| – | – |
-16,000
| Closed | -$174K |
|
1198
Automatic Data Processing
ADP
$109B
| – | – |
-27,002
| Closed | -$8.33M |
|
1199
Autodesk
ADSK
$54.1B
| – | – |
-1,684
| Closed | -$521K |
|
1200
Affirm
AFRM
$25.3B
| – | – |
-26,705
| Closed | -$1.85M |
|
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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.