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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
PH icon
126
Parker-Hannifin
PH
$135B
$3.72M 0.09%
4,232
-3,768
-47% -$3.08M
MDT icon
127
Medtronic
MDT
$112B
$3.71M 0.09%
38,642
-8,600
-18% -$835K
EMR icon
128
Emerson Electric
EMR
$88.3B
$3.7M 0.09%
+27,900
New +$3.7M
DOV icon
129
Dover
DOV
$28.4B
$3.69M 0.09%
+18,900
New +$3.44M
TLRY icon
130
CALL
Tilray
TLRY
$622M
$3.66M 0.09%
+405,400
New +$4.95M
LCID icon
131
PUT
Lucid Motors
LCID
$2.77B
$3.63M 0.09%
343,320
-208,520
-38% -$3.33M
CRK icon
132
Comstock Resources
CRK
$3.94B
$3.6M 0.09%
155,391
+85,389
+122% +$1.88M
BRX icon
133
Brixmor Property Group
BRX
$9.32B
$3.55M 0.09%
135,564
+66,529
+96% +$1.76M
KO icon
134
Coca-Cola
KO
$375B
$3.5M 0.08%
50,000
-118,950
-70% -$8.29M
EWBC icon
135
East-West Bancorp
EWBC
$18B
$3.47M 0.08%
30,895
+15,843
+105% +$1.68M
ROP icon
136
Roper Technologies
ROP
$39.8B
$3.42M 0.08%
7,684
+1,966
+34% +$911K
RRC icon
137
Range Resources
RRC
$8.95B
$3.37M 0.08%
95,497
+48,557
+103% +$1.81M
TIP icon
138
iShares TIPS Bond ETF
TIP
$14.5B
$3.34M 0.08%
+30,400
New +$3.37M
PPG icon
139
PPG Industries
PPG
$26.6B
$3.34M 0.08%
32,600
+15,959
+96% +$1.6M
GRPN icon
140
PUT
Groupon
GRPN
$1.02B
$3.33M 0.08%
189,000
– –
FIVE icon
141
Five Below
FIVE
$13.5B
$3.32M 0.08%
17,637
+10,133
+135% +$1.65M
TLT icon
142
iShares 20+ Year Treasury Bond ETF
TLT
$41.7B
$3.31M 0.08%
38,000
– –
MMM icon
143
3M
MMM
$94.3B
$3.3M 0.08%
+20,585
New +$3.37M
CBRE icon
144
CBRE Group
CBRE
$42.9B
$3.28M 0.08%
20,393
+2,598
+15% +$408K
GE icon
145
GE Aerospace
GE
$384B
$3.27M 0.08%
10,600
+3,100
+41% +$933K
GENI icon
146
Genius Sports
GENI
$2.11B
$3.26M 0.08%
295,500
-14,859
-5% -$162K
TLRY icon
147
Tilray
TLRY
$622M
$3.25M 0.08%
+359,540
New +$4.39M
AEP icon
148
American Electric Power
AEP
$68.4B
$3.22M 0.08%
+27,955
New +$3.3M
AMD icon
149
Advanced Micro Devices
AMD
$789B
$3.21M 0.08%
15,000
+12,123
+421% +$2.72M
COST icon
150
Costco
COST
$420B
$3.18M 0.08%
3,693
+2,975
+414% +$2.7M
4 5
6
7 8

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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.