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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
F icon
1351
Ford
F
$55.8B
– –
-88,843
Closed -$964K
FAF icon
1352
First American
FAF
$7.37B
– –
-41,428
Closed -$2.54M
FARO
1353
DELISTED
Faro Technologies
FARO
– –
-36,057
Closed -$1.58M
FBIN icon
1354
Fortune Brands Innovations
FBIN
$5.73B
– –
-7,787
Closed -$401K
FBNC icon
1355
First Bancorp
FBNC
$2.68B
– –
-5,484
Closed -$242K
FCN icon
1356
FTI Consulting
FCN
$4.17B
– –
-3,078
Closed -$497K
FEZ icon
1357
PUT
State Street SPDR EURO STOXX 50 ETF
FEZ
$4.54B
– –
-100,000
Closed -$5.97M
FHB icon
1358
First Hawaiian
FHB
$3.32B
– –
-20,986
Closed -$524K
PLGO
1359
Pelagos Insurance Capital
PLGO
$2.1B
– –
-11,181
Closed -$185K
FITB
1360
Fifth Third Bancorp
FITB
$51.8B
– –
-91,544
Closed -$3.77M
FLO icon
1361
Flowers Foods
FLO
$1.51B
– –
-19,846
Closed -$317K
FLR icon
1362
Fluor
FLR
$6.99B
– –
-55,500
Closed -$2.85M
FLS icon
1363
Flowserve
FLS
$10.1B
– –
-30,247
Closed -$1.58M
FLYW icon
1364
Flywire
FLYW
$2.11B
– –
-109,344
Closed -$1.28M
FR icon
1365
First Industrial Realty Trust
FR
$8.36B
– –
-61,801
Closed -$2.97M
FRME icon
1366
First Merchants
FRME
$2.66B
– –
-7,686
Closed -$294K
FSLY icon
1367
Fastly Inc
FSLY
$4.42B
– –
-13,742
Closed -$97K
FTI icon
1368
TechnipFMC
FTI
$29.1B
– –
-57,783
Closed -$1.99M
FVRR icon
1369
Fiverr
FVRR
$327M
– –
-19,531
Closed -$573K
FYBR
1370
DELISTED
Frontier Communications
FYBR
– –
-41,867
Closed -$1.52M
G icon
1371
Genpact
G
$5.74B
– –
-5,802
Closed -$255K
GRSD
1372
Grandstand Limited Ordinary Shares
GRSD
$64.9M
– –
-13,876
Closed -$165K
GATX icon
1373
GATX Corp
GATX
$6.23B
– –
-2,403
Closed -$369K
TDAY
1374
USA Today Co
TDAY
$1.05B
– –
-86,858
Closed -$311K
GDDY icon
1375
GoDaddy
GDDY
$11.6B
– –
-6,836
Closed -$1.23M
53 54
55
56 57

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SP
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BOK
Bank of Korea Seoul, South Korea $4.13B AUM
ZP
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SHCM
Sachem Head Capital Management New York $4.15B AUM 48.05% 1-Year Est. Return
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.