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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
(-4.5%)
Cap. Flow
-$1.27B
Cap. Flow
% of AUM
-20.09%
Top 10 Holdings %
Top 10 Hldgs %
55.44%
Holding
1,726
New
458
Increased
249
Reduced
476
Closed
529
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
VanEck Gold Miners ETF
GDX
|
+$42.9M |
| 2 |
State Street Industrial Select Sector SPDR ETF
XLI
|
+$20.3M |
| 3 |
iShares Russell 2000 ETF
IWM
|
+$13.4M |
| 4 |
BridgeBio Pharma
BBIO
|
+$12.4M |
| 5 |
iShares MSCI South Korea ETF
EWY
|
+$12.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$16M |
| 2 |
iShares Bitcoin Trust
IBIT
|
+$15.8M |
| 3 |
Caterpillar
CAT
|
+$15.8M |
| 4 |
Intercontinental Exchange
ICE
|
+$13.1M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
1476
McCormick & Company Non-Voting
MKC
$14.3B
| – | – |
-15,616
| Closed | -$1.18M |
|
1477
3M
MMM
$93.9B
| – | – |
-61,232
| Closed | -$9.32M |
|
1478
Maximus
MMS
$2.9B
| – | – |
-4,154
| Closed | -$292K |
|
1479
MakeMyTrip
MMYT
$5.73B
| – | – |
-5,357
| Closed | -$525K |
|
1480
monday.com
MNDY
$3.75B
| – | – |
-1,526
| Closed | -$480K |
|
1481
MannKind Corp
MNKD
$1.26B
| – | – |
-209,272
| Closed | -$783K |
|
1482
Morningstar
MORN
$7.54B
| – | – |
-1,082
| Closed | -$340K |
|
1483
Monolithic Power Systems
MPWR
$67.9B
| – | – |
-314
| Closed | -$230K |
|
|
MREO
1484
Mereo BioPharma
MREO
$43.5M
| – | – |
-21,176
| Closed | -$57.4K |
|
1485
MSCI
MSCI
$40.9B
| – | – |
-9,161
| Closed | -$5.28M |
|
1486
Madison Square Garden
MSGS
$9.43B
| – | – |
-4,870
| Closed | -$1.02M |
|
1487
Matador Resources
MTDR
$6.49B
| – | – |
-7,051
| Closed | -$336K |
|
1488
MGIC Investment
MTG
$6.21B
| – | – |
-144,547
| Closed | -$4.02M |
|
1489
MACOM Technology Solutions
MTSI
$22.7B
| – | – |
-9,740
| Closed | -$1.4M |
|
1490
MasTec
MTZ
$21.5B
| – | – |
-11,394
| Closed | -$1.94M |
|
1491
Myomo
MYO
$56.6M
| – | – |
-62,879
| Closed | -$136K |
|
1492
N-able
NABL
$605M
| – | – |
-14,880
| Closed | -$121K |
|
1493
NCR Atleos
NATL
$3.43B
| – | – |
-11,081
| Closed | -$316K |
|
1494
Nabors Industries
NBR
$1.33B
| – | – |
-10,734
| Closed | -$301K |
|
1495
Newmont
NEM
$124B
| – | – |
-9,000
| Closed | -$524K |
|
1496
Neogen
NEOG
$2.49B
| – | – |
-35,412
| Closed | -$169K |
|
1497
National Fuel Gas
NFG
$7.78B
| – | – |
-19,689
| Closed | -$1.67M |
|
|
NGD
1498
DELISTED
New Gold Inc
NGD
| – | – |
-38,517
| Closed | -$191K |
|
1499
National Health Investors
NHI
$3.59B
| – | – |
-18,954
| Closed | -$1.33M |
|
1500
NiSource
NI
$20B
| – | – |
-71,262
| Closed | -$2.87M |
|
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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.