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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
ORC
1526
Orchid Island Capital
ORC
$1.3B
– –
-91,914
Closed -$644K
ORA icon
1527
Ormat Technologies
ORA
$6.87B
– –
-15,010
Closed -$1.26M
PAAS icon
1528
Pan American Silver
PAAS
$21.8B
– –
-82,023
Closed -$2.33M
PB icon
1529
Prosperity Bancshares
PB
$8.81B
– –
-12,776
Closed -$897K
PBI icon
1530
Pitney Bowes
PBI
$2.33B
– –
-54,259
Closed -$592K
PBR icon
1531
Petrobras
PBR
$118B
– –
-42,461
Closed -$531K
PBR.A icon
1532
Petrobras Class A
PBR.A
$106B
– –
-40,988
Closed -$473K
PCG icon
1533
PG&E
PCG
$37.5B
– –
-209,836
Closed -$2.93M
PCH
1534
DELISTED
PotlatchDeltic
PCH
– –
-46,692
Closed -$1.79M
PCT icon
1535
CALL
PureCycle Technologies
PCT
$1.46B
– –
-853,400
Closed -$11.7M
PD icon
1536
PagerDuty
PD
$916M
– –
-41,124
Closed -$628K
PEG icon
1537
Public Service Enterprise Group
PEG
$37.2B
– –
-6,139
Closed -$517K
PGEN icon
1538
Precigen
PGEN
$2.51B
– –
-59,425
Closed -$84.4K
PGR icon
1539
Progressive
PGR
$124B
– –
-5,179
Closed -$1.38M
PGY icon
1540
PUT
Pagaya Technologies
PGY
$1.8B
– –
-124,000
Closed -$2.64M
PINC
1541
DELISTED
Premier
PINC
– –
-31,869
Closed -$699K
PLBY icon
1542
Playboy Inc
PLBY
$136M
– –
-73,896
Closed -$120K
PM icon
1543
Philip Morris
PM
$290B
– –
-1,801
Closed -$328K
PNW icon
1544
Pinnacle West Capital
PNW
$12B
– –
-24,200
Closed -$2.17M
PPBI
1545
DELISTED
Pacific Premier Bancorp
PPBI
– –
-61,997
Closed -$1.31M
PPC icon
1546
Pilgrim's Pride
PPC
$6.31B
– –
-33,237
Closed -$1.5M
PRCT icon
1547
Procept Biorobotics
PRCT
$1.24B
– –
-3,779
Closed -$218K
PRI icon
1548
Primerica
PRI
$9.65B
– –
-2,551
Closed -$698K
PRIM icon
1549
Primoris Services
PRIM
$4.35B
– –
-3,263
Closed -$254K
PRO
1550
DELISTED
PROS Holdings
PRO
– –
-54,067
Closed -$847K
60 61
62
63 64

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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
Altarock Partners West Palm Beach, Florida $4.13B AUM 0.04% 1-Year Est. Return
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.