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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
CAEP
176
DELISTED
Cantor Equity Partners III
CAEP
$2.77M 0.07%
271,582
-50,000
-16% -$519K
WWD icon
177
Woodward
WWD
$21.4B
$2.75M 0.07%
9,100
+2,953
+48% +$813K
DX
178
Dynex Capital
DX
$3.21B
$2.65M 0.06%
+188,818
New +$2.55M
VRT icon
179
Vertiv
VRT
$105B
$2.63M 0.06%
+16,249
New +$2.82M
HLT icon
180
Hilton Worldwide
HLT
$71.5B
$2.6M 0.06%
9,050
-10,219
-53% -$2.78M
SHW icon
181
Sherwin-Williams
SHW
$89.8B
$2.59M 0.06%
+8,000
New +$2.68M
MDB icon
182
MongoDB
MDB
$32.1B
$2.59M 0.06%
6,162
+3,900
+172% +$1.42M
NWG icon
183
NatWest
NWG
$76.4B
$2.57M 0.06%
146,968
+120,678
+459% +$1.91M
JBL icon
184
Jabil
JBL
$35.8B
$2.56M 0.06%
11,223
-4,830
-30% -$1.03M
NOC icon
185
Northrop Grumman
NOC
$81.2B
$2.52M 0.06%
4,416
-938
-18% -$544K
FISV
186
Fiserv Inc
FISV
$27.9B
$2.52M 0.06%
37,465
+25,225
+206% +$2.11M
DLB icon
187
Dolby
DLB
$5.79B
$2.48M 0.06%
38,657
+3,632
+10% +$244K
EQH icon
188
Equitable Holdings
EQH
$14.1B
$2.46M 0.06%
51,698
+32,177
+165% +$1.53M
LPX icon
189
Louisiana-Pacific
LPX
$5.49B
$2.46M 0.06%
+30,494
New +$2.58M
BSX icon
190
Boston Scientific
BSX
$71.5B
$2.44M 0.06%
25,561
-40,679
-61% -$3.99M
HYG icon
191
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.6B
$2.43M 0.06%
+30,100
New +$2.43M
FAF icon
192
First American
FAF
$7.58B
$2.42M 0.06%
+39,353
New +$2.47M
NDAQ icon
193
Nasdaq
NDAQ
$52.9B
$2.4M 0.06%
24,735
-28,120
-53% -$2.53M
BN icon
194
Brookfield
BN
$108B
$2.4M 0.06%
52,322
+37,565
+255% +$1.71M
VEEV icon
195
Veeva Systems
VEEV
$37.4B
$2.38M 0.06%
10,682
-1,102
-9% -$292K
BHP icon
196
BHP
BHP
$230B
$2.37M 0.06%
39,245
-755
-2% -$42.9K
INVH icon
197
Invitation Homes
INVH
$18B
$2.34M 0.06%
+84,289
New +$2.35M
MGA icon
198
Magna International
MGA
$18.8B
$2.33M 0.06%
43,724
+10,260
+31% +$501K
WH icon
199
Wyndham Hotels & Resorts
WH
$5.48B
$2.33M 0.06%
30,796
+19,460
+172% +$1.47M
EA
200
DELISTED
Electronic Arts
EA
$2.33M 0.06%
+11,382
New +$2.3M
6 7
8
9 10

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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.