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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
CHRW icon
1276
C.H. Robinson
CHRW
$17.3B
– –
-11,698
Closed -$1.12M
CHWY icon
1277
Chewy
CHWY
$9.25B
– –
-53,137
Closed -$2.26M
CIB icon
1278
Grupo Cibest SA
CIB
$21.7B
– –
-16,074
Closed -$742K
CIM
1279
Chimera Investment
CIM
$980M
– –
-44,496
Closed -$617K
CINF icon
1280
Cincinnati Financial
CINF
$26.7B
– –
-10,192
Closed -$1.52M
CLBT icon
1281
Cellebrite
CLBT
$3.97B
– –
-49,717
Closed -$795K
CLOV icon
1282
Clover Health Investments
CLOV
$2.43B
– –
-238,245
Closed -$665K
CLVT icon
1283
Clarivate
CLVT
$1.21B
– –
-44,277
Closed -$190K
CLX icon
1284
Clorox
CLX
$13B
– –
-21,016
Closed -$2.52M
CM icon
1285
Canadian Imperial Bank of Commerce
CM
$109B
– –
-13,269
Closed -$940K
CMC icon
1286
Commercial Metals
CMC
$8.1B
– –
-4,377
Closed -$214K
CMCO icon
1287
Columbus McKinnon
CMCO
$557M
– –
-11,763
Closed -$180K
CNM icon
1288
Core & Main
CNM
$8.67B
– –
-21,000
Closed -$1.27M
CODI icon
1289
Compass Diversified
CODI
$834M
– –
-23,439
Closed -$147K
COF icon
1290
Capital One
COF
$134B
– –
-3,850
Closed -$819K
COHR icon
1291
Coherent
COHR
$63.6B
– –
-75,090
Closed -$6.7M
COO icon
1292
Cooper Companies
COO
$14.9B
– –
-6,012
Closed -$428K
COPX icon
1293
Global X Copper Miners ETF NEW
COPX
$8.34B
– –
-26,500
Closed -$1.19M
CPRI icon
1294
Capri Holdings
CPRI
$1.75B
– –
-52,461
Closed -$929K
CRDF icon
1295
Cardiff Oncology
CRDF
$80.1M
– –
-18,718
Closed -$59K
CRGX
1296
DELISTED
CARGO Therapeutics
CRGX
– –
-28,504
Closed -$117K
CRI icon
1297
Carter's
CRI
$1.48B
– –
-62,100
Closed -$1.87M
CRM icon
1298
CALL
Salesforce
CRM
$162B
– –
-2,500
Closed -$682K
CRNC icon
1299
Cerence
CRNC
$403M
– –
-16,067
Closed -$164K
CRSR icon
1300
Corsair Gaming
CRSR
$1.48B
– –
-22,497
Closed -$212K
50 51
52
53 54

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SP
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BOK
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ZP
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SHCM
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AP
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BHC
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BG
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CA
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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.