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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
HON icon
201
Honeywell
HON
$78B
$2.32M 0.06%
11,910
-21,898
-65% -$4.28M
LEN icon
202
Lennar Class A
LEN
$21.2B
$2.32M 0.06%
22,587
+5,318
+31% +$642K
BBY icon
203
Best Buy
BBY
$17.3B
$2.31M 0.06%
+34,496
New +$2.63M
ADSK icon
204
Autodesk
ADSK
$52.6B
$2.29M 0.05%
+7,723
New +$2.34M
EQT icon
205
EQT Corp
EQT
$32.3B
$2.28M 0.05%
42,598
+37,053
+668% +$2.08M
EXE
206
Expand Energy Corp
EXE
$21.5B
$2.27M 0.05%
+20,610
New +$2.29M
GPOR icon
207
Gulfport Energy Corp
GPOR
$2.88B
$2.26M 0.05%
+10,858
New +$2.16M
DPZ icon
208
Domino's
DPZ
$11.6B
$2.25M 0.05%
+5,410
New +$2.25M
NVR icon
209
NVR
NVR
$17B
$2.25M 0.05%
309
-248
-45% -$1.85M
NOW icon
210
ServiceNow
NOW
$129B
$2.25M 0.05%
+14,699
New +$2.52M
CFG icon
211
Citizens Financial Group
CFG
$30.6B
$2.24M 0.05%
+38,407
New +$2.06M
PEG icon
212
Public Service Enterprise Group
PEG
$37.7B
$2.22M 0.05%
+27,660
New +$2.26M
TYL icon
213
Tyler Technologies
TYL
$12.8B
$2.21M 0.05%
+4,878
New +$2.32M
TDY icon
214
Teledyne Technologies
TDY
$32B
$2.21M 0.05%
+4,327
New +$2.28M
JBS
215
JBS N.V.
JBS
$46.8B
$2.16M 0.05%
150,000
+117,737
+365% +$1.62M
COPX icon
216
Global X Copper Miners ETF NEW
COPX
$8.16B
$2.15M 0.05%
+30,000
New +$1.92M
HST icon
217
Host Hotels & Resorts
HST
$16B
$2.15M 0.05%
121,214
-11,767
-9% -$203K
GDX icon
218
VanEck Gold Miners ETF
GDX
$27.4B
$2.14M 0.05%
25,000
-787,500
-97% -$62.2M
SEIC icon
219
SEI Investments
SEIC
$12.6B
$2.12M 0.05%
25,894
-15,844
-38% -$1.3M
PNFP icon
220
Pinnacle Financial Partners Inc
PNFP
$15.8B
$2.12M 0.05%
22,169
+146
+0.7% +$13.4K
MDY icon
221
State Street SPDR S&P MIDCAP 400 ETF Trust
MDY
$27.3B
$2.11M 0.05%
+3,500
New +$2.09M
SYY icon
222
Sysco
SYY
$40.3B
$2.09M 0.05%
+28,301
New +$2.15M
XRT icon
223
State Street SPDR S&P Retail ETF
XRT
$327M
$2.05M 0.05%
+24,000
New +$2.02M
VOD icon
224
Vodafone
VOD
$37.4B
$2.03M 0.05%
153,463
-67,142
-30% -$812K
VLY icon
225
Valley National Bancorp
VLY
$8.04B
$2.03M 0.05%
173,528
+22,669
+15% +$252K
7 8
9
10 11

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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.