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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
(-34%)
Cap. Flow
-$1.72B
Cap. Flow
% of AUM
-41.09%
Top 10 Holdings %
Top 10 Hldgs %
35.08%
Holding
1,653
New
441
Increased
361
Reduced
355
Closed
464
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cipher Digital
CIFR
|
+$39.9M |
| 2 |
Netflix
NFLX
|
+$38M |
| 3 |
iShares MSCI Canada ETF
EWC
|
+$35M |
| 4 |
United Parcel Service
UPS
|
+$26.1M |
| 5 |
Eos Energy Enterprises
EOSE
|
+$25.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
VanEck Gold Miners ETF
GDX
|
+$62.2M |
| 2 |
iShares Bitcoin Trust
IBIT
|
+$43.4M |
| 3 |
State Street Utilities Select Sector SPDR ETF
XLU
|
+$39.5M |
| 4 |
Vanguard Morningstar Value ETF
VTV
|
+$32.8M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
1451
Envista
NVST
$4.52B
| – | – |
-12,804
| Closed | -$261K |
|
1452
Newell Brands
NWL
$2.56B
| – | – |
-21,432
| Closed | -$112K |
|
1453
News Corp Class B
NWS
$17.5B
| – | – |
-16,606
| Closed | -$574K |
|
1454
Quanex
NX
$1.01B
| – | – |
-30,535
| Closed | -$434K |
|
1455
NexGen Energy
NXE
$6.99B
| – | – |
-47,213
| Closed | -$423K |
|
1456
Nexstar Media Group
NXST
$5.97B
| – | – |
-3,245
| Closed | -$642K |
|
|
ADAM
1457
Adamas Trust
ADAM
$883M
| – | – |
-28,234
| Closed | -$197K |
|
1458
New York Times
NYT
$10.2B
| – | – |
-18,855
| Closed | -$1.08M |
|
1459
OmniAb
OABI
$447M
| – | – |
-167,172
| Closed | -$267K |
|
1460
Owens Corning
OC
$12.4B
| – | – |
-4,000
| Closed | -$566K |
|
1461
ODDITY Tech
ODD
$651M
| – | – |
-9,489
| Closed | -$591K |
|
|
ODP
1462
DELISTED
ODP
ODP
| – | – |
-14,061
| Closed | -$392K |
|
1463
OGE Energy
OGE
$9.71B
| – | – |
-25,203
| Closed | -$1.17M |
|
1464
Organon & Co
OGN
$3.57B
| – | – |
-26,813
| Closed | -$286K |
|
1465
Okta
OKTA
$25.8B
| – | – |
-16,945
| Closed | -$1.55M |
|
1466
Omnicom Group
OMC
$23.4B
| – | – |
-2,459
| Closed | -$200K |
|
1467
Omnicell
OMCL
$1.68B
| – | – |
-11,640
| Closed | -$354K |
|
1468
OneMain Financial
OMF
$7.47B
| – | – |
-28,534
| Closed | -$1.61M |
|
1469
Onto Innovation
ONTO
$15.3B
| – | – |
-2,413
| Closed | -$312K |
|
1470
PUT
Opendoor
OPEN
$3.38B
| – | – |
-2,491,160
| Closed | -$19.2M |
|
1471
Oracle
ORCL
$423B
| – | – |
-1,206
| Closed | -$287K |
|
|
1472
PUT
Oracle
ORCL
$423B
| – | – |
-200
| Closed | -$56.2K |
|
1473
One Stop Systems
OSS
$330M
| – | – |
-11,706
| Closed | -$62.7K |
|
1474
Ouster
OUST
$2.92B
| – | – |
-8,098
| Closed | -$219K |
|
1475
Occidental Petroleum
OXY
$55.9B
| – | – |
-4,454
| Closed | -$210K |
|
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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.