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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
+1.47%
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
$4.18B
AUM Growth
-$2.14B
Cap. Flow
-$1.72B
Cap. Flow %
-41.09%
Top 10 Hldgs %
35.08%
Holding
1,653
New
441
Increased
361
Reduced
355
Closed
464

Top Buys

Rank Stock Value
1
CIFR icon
Cipher Digital
CIFR
+$39.9M
2
NFLX icon
Netflix
NFLX
+$38M
3
EWC icon
iShares MSCI Canada ETF
EWC
+$35M
4
UPS icon
United Parcel Service
UPS
+$26.1M
5
EOSE icon
Eos Energy Enterprises
EOSE
+$25.7M

Top Sells

Rank Stock Value
1
GDX icon
VanEck Gold Miners ETF
GDX
+$62.2M
2
IBIT icon
iShares Bitcoin Trust
IBIT
+$43.4M
3
XLU icon
State Street Utilities Select Sector SPDR ETF
XLU
+$39.5M
4
VTV icon
Vanguard Morningstar Value ETF
VTV
+$32.8M
5
XLI icon
State Street Industrial Select Sector SPDR ETF
XLI
+$20.4M

Sector Composition

Rank Sector Weight
1 Technology 8.87%
2 Industrials 7.53%
3 Financials 5.36%
4 Consumer Discretionary 5.16%
5 Communication Services 4.02%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ALLE icon
1176
Allegion
ALLE
$14.4B
– –
-22,500
Closed -$3.99M
ALLY icon
1177
Ally Financial
ALLY
$13.3B
– –
-6,589
Closed -$258K
ALTG icon
1178
Alta Equipment Group
ALTG
$245M
– –
-29,923
Closed -$217K
AMBP icon
1179
Ardagh Metal Packaging
AMBP
$3.01B
– –
-122,728
Closed -$490K
AMRN
1180
Amarin Corp
AMRN
$303M
– –
-13,520
Closed -$221K
AMT icon
1181
American Tower
AMT
$80.4B
– –
-3,660
Closed -$704K
AMZN icon
1182
PUT
Amazon
AMZN
$2.96T
– –
-20,000
Closed -$4.39M
ANAB icon
1183
AnaptysBio
ANAB
$1.68B
– –
-15,320
Closed -$469K
AN icon
1184
AutoNation
AN
$6.92B
– –
-1,607
Closed -$352K
ANET icon
1185
Arista Networks
ANET
$238B
– –
-19,287
Closed -$2.81M
AOSL icon
1186
Alpha and Omega Semiconductor
AOSL
$1.08B
– –
-7,529
Closed -$211K
AQN icon
1187
Algonquin Power & Utilities
AQN
$4.42B
– –
-106,955
Closed -$574K
ARKO icon
1188
ARKO Corp
ARKO
$635M
– –
-18,109
Closed -$82.8K
ARLO icon
1189
Arlo Technologies
ARLO
$1.65B
– –
-22,433
Closed -$380K
ARQT icon
1190
Arcutis Biotherapeutics
ARQT
$3.18B
– –
-35,278
Closed -$665K
ARRY icon
1191
Array Technologies
ARRY
$855M
– –
-18,228
Closed -$149K
ASM
1192
Avino Silver & Gold Mines
ASM
$1.2B
– –
-179,454
Closed -$942K
ASO icon
1193
Academy Sports + Outdoors
ASO
$2.98B
– –
-13,582
Closed -$679K
ASST icon
1194
PUT
Strive Inc
ASST
$1.05B
– –
-17,850
Closed -$893K
ASTL icon
1195
Algoma Steel
ASTL
$431M
– –
-28,741
Closed -$102K
AUR icon
1196
Aurora
AUR
$13.8B
– –
-126,173
Closed -$680K
AUTL
1197
Autolus Therapeutics
AUTL
$562M
– –
-147,877
Closed -$241K
BAH icon
1198
Booz Allen Hamilton
BAH
$9.15B
– –
-3,227
Closed -$323K
BBAR icon
1199
BBVA Argentina
BBAR
$3.49B
– –
-46,865
Closed -$390K
BC icon
1200
Brunswick
BC
$5.28B
– –
-10,995
Closed -$695K
46 47
48
49 50

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ZP
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AP
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MGP
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Graham Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Graham Capital Management held 1,653 positions worth $4.18B, down 34% from $6.32B the previous quarter. Its ten largest holdings account for 35% of the portfolio.

Graham Capital Management withdrew a net $1.72B in Q4 2025, closing 464 positions and reducing 355 holdings. Its most notable exit was Vanguard Morningstar Value ETF, an estimated $32.8M position sold in full.

By sector, the portfolio is most concentrated in Technology at 8.9% of assets, up from 3.7% a quarter earlier, followed by Industrials and Financials.

Against the trend, Graham Capital Management opened a new position in Cipher Digital worth $33.3M.

  • Graham Capital Management's largest Q4 2025 buy was Cipher Digital: 2,258,042 shares worth $33.3M.
  • Graham Capital Management added most to Netflix in Q4 2025, an estimated $38M increase.
  • Graham Capital Management's biggest Q4 2025 reduction was VanEck Gold Miners ETF, cutting an estimated $62.2M.
  • Graham Capital Management fully exited Vanguard Morningstar Value ETF in Q4 2025, selling an estimated $32.8M.
  • Graham Capital Management's ten largest holdings make up 35% of its $4.18B portfolio in Q4 2025.
  • Graham Capital Management opened 441 new positions and closed 464 in Q4 2025.
  • Graham Capital Management's portfolio value fell 34% quarter-over-quarter to $4.18B.

Based on Graham Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.