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GCM
Graham Capital Management Portfolio holdings
AUM
$5.5B
1-Year Est. Return
26.66%
This Fund
S&P 500
This Quarter
Est. Return
+16.6%
1 Year Est. Return
+26.66%
3 Year Est. Return
+60.37%
5 Year Est. Return
+53.44%
10 Year Est. Return
+161.9%
AUM
$5.5B
AUM Growth
+$1.36B
(+33%)
Cap. Flow
-$563M
Cap. Flow
% of AUM
-10.25%
Top 10 Holdings %
Top 10 Hldgs %
35.01%
Holding
1,568
New
448
Increased
355
Reduced
384
Closed
346
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
KEEL
Keel Infrastructure Corp
KEEL
|
+$28.4M |
| 2 |
SMCIP
Super Micro Computer Depositary Shares 7% Series A Preferred Stock
SMCIP
|
+$26.9M |
| 3 |
Eos Energy Enterprises
EOSE
|
+$24.8M |
| 4 |
NVIDIA
NVDA
|
+$24.2M |
| 5 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$20.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI South Korea ETF
EWY
|
+$44.2M |
| 2 |
Intel
INTC
|
+$32.8M |
| 3 |
State Street Financial Select Sector SPDR ETF
XLF
|
+$32.5M |
| 4 |
Micron Technology
MU
|
+$31.6M |
| 5 |
Netflix
NFLX
|
+$30.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 59.22% |
| 2 | Technology | 10.55% |
| 3 | Industrials | 7.38% |
| 4 | Consumer Discretionary | 5.16% |
| 5 | Financials | 4.95% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Pinnacle West Capital
PNW
$11.6B
| $6.8M | 0.12% |
63,569
-2,908
| -4% | -$297K |
|
102
VanEck Semiconductor ETF
SMH
$69.2B
| $6.69M | 0.12% |
10,200
+1,400
| +16% | +$764K |
|
103
Airbnb
ABNB
$100B
| $6.61M | 0.12% |
+46,159
| New | +$6.3M |
|
104
Procter & Gamble
PG
$337B
| $6.55M | 0.12% |
44,668
-97,523
| -69% | -$14.2M |
|
105
Brixmor Property Group
BRX
$8.82B
| $6.53M | 0.12% |
207,078
-15,673
| -7% | -$478K |
|
106
Unilever
UL
$134B
| $6.47M | 0.12% |
+107,642
| New | +$6.22M |
|
107
Automatic Data Processing
ADP
$107B
| $6.44M | 0.12% |
28,767
-45,532
| -61% | -$9.73M |
|
108
FirstEnergy
FE
$26.7B
| $6.38M | 0.12% |
134,225
+28,982
| +28% | +$1.38M |
|
109
Walmart Inc
WMT
$850B
| $6.38M | 0.12% |
56,310
-12,760
| -18% | -$1.58M |
|
|
XOVR
110
EntrepreneurShares Series Trust ERShares Private-Public Crossover ETF
XOVR
$1.52B
| $6.32M | 0.11% |
+300,000
| New | +$5.73M |
|
111
General Dynamics
GD
$96.3B
| $6.27M | 0.11% |
17,694
+7,931
| +81% | +$2.72M |
|
112
SS&C Technologies
SSNC
$18.8B
| $6.24M | 0.11% |
+100,595
| New | +$6.83M |
|
113
iShares 20+ Year Treasury Bond ETF
TLT
$46.4B
| $6.22M | 0.11% |
72,000
| – | – |
|
|
114
PUT
iShares 20+ Year Treasury Bond ETF
TLT
$46.4B
| $6.22M | 0.11% |
72,000
-68,000
| -49% | -$5.84M |
|
115
CSX Corp
CSX
$90.7B
| $6.13M | 0.11% |
129,000
+57,000
| +79% | +$2.57M |
|
116
Colgate-Palmolive
CL
$69.2B
| $6.12M | 0.11% |
66,756
+14,592
| +28% | +$1.28M |
|
117
VanEck Rare Earth/Strategic Metals ETF
REMX
$2.07B
| $6.12M | 0.11% |
+69,130
| New | +$6.72M |
|
118
TotalEnergies
TTE
$203B
| $6.11M | 0.11% |
78,557
+35,355
| +82% | +$3.13M |
|
119
BigBear.ai
BBAI
$1.38B
| $5.97M | 0.11% |
1,627,317
-100
| -0% | -$400 |
|
|
SGI
120
Somnigroup International
SGI
$14B
| $5.82M | 0.11% |
+74,232
| New | +$5.44M |
|
121
Graco
GGG
$12.4B
| $5.81M | 0.11% |
76,903
+28,918
| +60% | +$2.28M |
|
|
DX
122
Dynex Capital
DX
$3.11B
| $5.81M | 0.11% |
443,472
+300,341
| +210% | +$3.95M |
|
123
MetLife
MET
$61.7B
| $5.78M | 0.11% |
68,284
-124,906
| -65% | -$10.1M |
|
124
Burlington
BURL
$15B
| $5.7M | 0.1% |
+17,990
| New | +$5.8M |
|
125
FNB Corp
FNB
$6.52B
| $5.69M | 0.1% |
298,396
+243,719
| +446% | +$4.34M |
|
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Graham Capital Management's Q2 2026 Portfolio in Review
As of Q2 2026, Graham Capital Management held 1,568 positions worth $5.5B, up 33% from $4.14B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Graham Capital Management withdrew a net $563M in Q2 2026, closing 346 positions and reducing 384 holdings. Its most notable exit was State Street Financial Select Sector SPDR ETF, an estimated $32.5M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 59% of assets, up from 55% a quarter earlier, followed by Technology and Industrials.
Against the trend, Graham Capital Management opened a new position in Keel Infrastructure Corp worth $37.9M.
- Graham Capital Management's largest Q2 2026 buy was Keel Infrastructure Corp: 6,611,174 shares worth $37.9M.
- Graham Capital Management added most to NVIDIA in Q2 2026, an estimated $24.2M increase.
- Graham Capital Management's biggest Q2 2026 reduction was iShares MSCI South Korea ETF, cutting an estimated $44.2M.
- Graham Capital Management fully exited State Street Financial Select Sector SPDR ETF in Q2 2026, selling an estimated $32.5M.
- Graham Capital Management's ten largest holdings make up 35% of its $5.5B portfolio in Q2 2026.
- Graham Capital Management opened 448 new positions and closed 346 in Q2 2026.
- Graham Capital Management's portfolio value rose 33% quarter-over-quarter to $5.5B.
Based on Graham Capital Management's 13F filing for Q2 2026, filed 14 Aug 2026.