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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 3.84%
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
LEN icon
201
Lennar Class A
LEN
$21.2B
$2.18M 0.03%
17,269
-40,670
-70% -$5.05M
RITM icon
202
Rithm Capital
RITM
$5.69B
$2.17M 0.03%
190,435
-154,357
-45% -$1.87M
LECO icon
203
Lincoln Electric
LECO
$15.4B
$2.13M 0.03%
9,051
+1
+0% +$234
CVNA icon
204
Carvana
CVNA
$77.9B
$2.12M 0.03%
28,045
-11,350
-29% -$812K
AA icon
205
Alcoa
AA
$13.2B
$2.11M 0.03%
64,179
+6,117
+11% +$190K
RMD icon
206
ResMed
RMD
$30.7B
$2.1M 0.03%
7,676
-9,315
-55% -$2.54M
PYPL icon
207
PayPal
PYPL
$50.5B
$2.1M 0.03%
31,308
-46,726
-60% -$3.29M
SPR
208
DELISTED
Spirit AeroSystems
SPR
$2.1M 0.03%
54,317
+39,325
+262% +$1.57M
PNFP icon
209
Pinnacle Financial Partners Inc
PNFP
$15.8B
$2.07M 0.03%
22,023
+11,415
+108% +$1.14M
PLTR icon
210
Palantir
PLTR
$413B
$2.06M 0.03%
11,298
-1,075
-9% -$174K
LITE icon
211
Lumentum
LITE
$69.3B
$2.06M 0.03%
12,659
-8,107
-39% -$1.01M
GEV icon
212
GE Vernova
GEV
$264B
$2.05M 0.03%
3,332
-1,143
-26% -$692K
XPO icon
213
XPO
XPO
$23.7B
$2.04M 0.03%
15,800
-12,200
-44% -$1.58M
KT icon
214
KT
KT
$8.81B
$2.04M 0.03%
104,542
+93,803
+873% +$1.91M
SCHW
215
Charles Schwab
SCHW
$187B
$2.03M 0.03%
21,312
-119,175
-85% -$11.3M
BCRX icon
216
BioCryst Pharmaceuticals
BCRX
$2.4B
$2.03M 0.03%
267,730
+48,646
+22% +$405K
PPTA
217
CALL
Perpetua Resources
PPTA
$3.09B
$2.02M 0.03%
+100,000
New +$1.69M
POR icon
218
Portland General Electric
POR
$5.77B
$2M 0.03%
45,561
-38,324
-46% -$1.61M
RRX icon
219
Regal Rexnord
RRX
$11.9B
$2M 0.03%
13,929
-4,676
-25% -$689K
ACN icon
220
Accenture
ACN
$108B
$1.98M 0.03%
+8,045
New +$2.1M
SKYW icon
221
Skywest
SKYW
$4.34B
$1.95M 0.03%
19,420
-8,723
-31% -$974K
BRX icon
222
Brixmor Property Group
BRX
$9.32B
$1.91M 0.03%
+69,035
New +$1.85M
LXP icon
223
LXP Industrial Trust
LXP
$3.57B
$1.89M 0.03%
42,224
+29,062
+221% +$1.25M
FHN icon
224
First Horizon
FHN
$12.1B
$1.88M 0.03%
83,068
+68,110
+455% +$1.51M
CDNS icon
225
Cadence Design Systems
CDNS
$93.4B
$1.88M 0.03%
5,345
-8,735
-62% -$3.01M
7 8
9
10 11

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BOK
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ZP
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AP
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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.