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Asset Manager ← All Institutions

Graham Capital Management, L.P.

Q3 2025 · Filed 2025-11-14
Market Value
$1.8B
-22.0%
Holdings
1,587
+20
New Purchases
421
Added To
234
Closed
478
Reduced
450
Top 10 Concentration
24.8%
Turnover
56.6%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GDX 3.45% 0.23% +3.22% $62M
IBIT 8.35% 6.78% +1.57% $150M
XLU 3.08% 1.79% +1.28% $55M
XLI 1.37% 0.17% +1.21% $25M
VTV 1.82% 0.84% +0.98% $33M
AMZN 2.03% 1.11% +0.92% $37M
IWM 0.79% 0.00% +0.79% $14M
BBIO 0.80% 0.05% +0.76% $14M
EWY 0.74% 0.00% +0.74% $13M
FSLR 0.73% 0.01% +0.72% $13M
TER 0.72% 0.00% +0.72% $13M
META 1.62% 0.97% +0.65% $29M
XLF 0.64% 0.00% +0.64% $12M
TVTX 0.62% 0.00% +0.62% $11M
XOM 0.56% 0.00% +0.56% $10M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
CAT 0.00% 0.68% -0.68% $0
EEM 0.00% 0.67% -0.67% $0
ICE 0.15% 0.71% -0.56% $3M
EWJ 0.00% 0.51% -0.51% $0
CVX 0.03% 0.54% -0.51% $470K
BSX 0.36% 0.84% -0.48% $6M
SCHW 0.11% 0.56% -0.44% $2M
ADI 0.16% 0.58% -0.41% $3M
OKTA 0.09% 0.50% -0.41% $2M
MMM 0.00% 0.40% -0.40% $0
ACGL 0.03% 0.43% -0.40% $624K
LRCX 0.13% 0.51% -0.38% $2M
XHB 0.00% 0.37% -0.37% $0
NTNX 0.00% 0.36% -0.36% $0
ADP 0.00% 0.36% -0.36% $0

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 53 $273M 15.2%
Large Cap 480 $1.1B 58.5%
Mid Cap 516 $322M 17.9%
Small Cap 426 $134M 7.5%
Micro Cap 112 $18M 1.0%

Portfolio Analytics

Avg Market Cap
$47.6B
Median Market Cap
$4.2B
Avg P/E
34.3
Median P/E
21.8
Avg Dividend Yield
0.02%
Avg Beta
1.10
# Stocks
1,556
# ETFs / Funds
31

Top Holdings (1,587 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 IBIT 8.35% 2,312,412 $150M $65.00 -$6M -243,296 -9.5%
2 GDX 3.45% 812,500 $62M $76.40 $57M +712,500 +712.5%
3 XLU 3.08% 635,206 $55M $87.21 $14M +128,256 +25.3%
4 AMZN 2.03% 166,698 $37M $219.57 $11M +49,944 +42.8%
5 VTV 1.82% 176,000 $33M $186.49 $13M +66,000 +60.0%
6 META 1.62% 39,653 $29M $734.38 $7M +9,302 +30.6%
7 XLI 1.37% 160,102 $25M $154.23 $21M +134,002 +513.4%
8 CME 1.15% 76,694 $21M $270.19 -$3M -10,655 -12.2%
9 NVDA 0.98% 94,838 $18M $186.58 -$2M -27,899 -22.7%
10 BA 0.93% 77,618 $17M $215.83 -$2M -13,306 -14.6%
11 ETHA 0.92% 526,904 $17M $31.51 $7M +1,904 +0.4%
12 BBIO 0.80% 278,128 $14M $51.94 $13M +253,269 +1018.8%
13 IWM 0.79% 58,400 $14M $241.96 +58,400 NEW
14 MU 0.78% 83,365 $14M $167.32 $1M -18,901 -18.5%
15 EWY 0.74% 165,220 $13M $80.10 +165,220 NEW
16 FSLR 0.73% 59,600 $13M $220.53 $13M +58,100 +3873.3%
17 TER 0.72% 93,830 $13M $137.64 +93,830 NEW
18 GOOG 0.69% 50,783 $12M $243.55 -$346K -20,893 -29.1%
19 RSP 0.69% 65,000 $12M $189.70 $4M +16,900 +35.1%
20 DG 0.66% 115,000 $12M $103.35 -$10M -80,389 -41.1%
21 ERJ 0.65% 192,272 $12M $60.45 $372K -5,429 -2.8%
22 MELI 0.65% 4,967 $12M $2,336.94 -$7M -2,160 -30.3%
23 XLF 0.64% 214,000 $12M $53.87 +214,000 NEW
24 C 0.63% 111,703 $11M $101.50 $7M +64,500 +136.6%
25 KO 0.62% 168,950 $11M $66.32 $3M +51,705 +44.1%
26 TVTX 0.62% 466,998 $11M $23.90 +466,998 NEW
27 SPY 0.58% 15,650 $10M $666.18 -$5M -9,502 -37.8%
28 XOM 0.56% 89,812 $10M $112.75 +89,812 NEW
29 UBER 0.55% 101,823 $10M $97.97 $917K +4,734 +4.9%
30 CMS 0.53% 130,276 $10M $73.26 -$433K -13,732 -9.5%
31 BX 0.52% 55,260 $9M $170.85 -$4M -34,463 -38.4%
32 MO 0.52% 141,853 $9M $66.06 $7M +103,390 +268.8%
33 LNG 0.51% 38,707 $9M $234.98 $2M +10,624 +37.8%
34 EZA 0.50% 139,545 $9M $64.10 +139,545 NEW
35 CMCSA 0.48% 275,411 $9M $31.42 $951K +59,595 +27.6%
36 GIS 0.46% 165,839 $8M $50.42 $5M +109,955 +196.8%
37 FXI 0.46% 201,000 $8M $41.14 $5M +101,000 +101.0%
38 AME 0.44% 42,091 $8M $188.00 $2M +9,029 +27.3%
39 HD 0.44% 19,400 $8M $405.19 $2M +4,759 +32.5%
40 GTES 0.42% 305,940 $8M $24.82 $3M +108,783 +55.2%
41 NU 0.40% 454,890 $7M $16.01 -$6M -537,019 -54.1%
42 JPM 0.39% 22,500 $7M $315.43 +22,500 NEW
43 MA 0.39% 12,421 $7M $568.81 -$2M -3,682 -22.9%
44 CMI 0.39% 16,505 $7M $422.37 $5M +11,798 +250.7%
45 KWEB 0.38% 163,169 $7M $42.01 +163,169 NEW
46 HON 0.37% 31,864 $7M $210.50 $3M +16,849 +112.2%
47 TEL 0.37% 30,184 $7M $219.53 +30,184 NEW
48 URI 0.37% 6,900 $7M $954.66 $182K -1,602 -18.8%
49 EWC 0.36% 129,000 $7M $50.55 +129,000 NEW
50 APH 0.36% 52,656 $7M $123.75 +52,656 NEW
51 BSX 0.36% 66,240 $6M $97.63 -$13M -113,835 -63.2%
52 V 0.35% 18,279 $6M $341.38 +18,279 NEW
53 PH 0.34% 8,000 $6M $758.15 $827K +500 +6.7%
54 EME 0.34% 9,300 $6M $649.54 $4M +5,150 +124.1%
55 MCD 0.33% 19,671 $6M $303.89 +19,671 NEW
56 VRSK 0.32% 23,119 $6M $251.51 $3M +14,026 +154.2%
57 CRM 0.32% 24,532 $6M $237.00 -$708K +616 +2.6%
58 MLM 0.32% 9,200 $6M $630.28 $1M +1,200 +15.0%
59 ED 0.31% 54,981 $6M $100.52 -$6M -57,380 -51.1%
60 JCI 0.30% 48,639 $5M $109.95 $3M +24,489 +101.4%
61 D 0.29% 85,400 $5M $61.17 $379K -328 -0.4%
62 NVT 0.29% 52,743 $5M $98.64 $2M +15,243 +40.6%
63 PNR 0.29% 46,800 $5M $110.76 +46,800 NEW
64 MSFT 0.29% 10,005 $5M $517.95 +10,005 NEW
65 ICLN 0.28% 328,731 $5M $15.48 +328,731 NEW
66 AWI 0.28% 25,655 $5M $196.01 $466K -2,434 -8.7%
67 XBI 0.28% 50,000 $5M $100.20 $864K
68 NFLX 0.28% 4,172 $5M $1,198.92 -$8M -5,177 -55.4%
69 HLT 0.28% 19,269 $5M $259.44 -$3M -9,871 -33.9%
70 LOW 0.28% 19,806 $5M $251.31 $3M +11,939 +151.8%
71 ALL 0.27% 23,015 $5M $214.65 $3M +12,754 +124.3%
72 QQQ 0.27% 8,200 $5M $600.37 +8,200 NEW
73 ADBE 0.27% 13,948 $5M $352.75 $28K +1,302 +10.3%
74 OSCR 0.26% 251,872 $5M $18.93 $689K +61,605 +32.4%
75 NDAQ 0.26% 52,855 $5M $88.45 $4M +40,339 +322.3%
76 MNST 0.25% 67,135 $5M $67.31 -$9M -150,336 -69.1%
77 VLTO 0.25% 42,336 $5M $106.61 $2M +17,876 +73.1%
78 MDT 0.25% 47,242 $4M $95.24 +47,242 NEW
79 APG 0.25% 130,695 $4M $34.37 $2M +85,695 +190.4%
80 NVR 0.25% 557 $4M $8,034.66 $1M +140 +33.6%
81 CW 0.25% 8,199 $4M $542.94 $4M +6,571 +403.6%
82 GD 0.25% 13,000 $4M $341.00 $2M +3,061 +30.8%
83 CHE 0.24% 9,525 $4M $447.74 $641K +2,083 +28.0%
84 SOFI 0.23% 159,694 $4M $26.42 $3M +116,008 +265.6%
85 CEPT 0.23% 394,318 $4M $10.55 -$189K
86 FERG 0.23% 18,300 $4M $224.58 +18,300 NEW
87 DLTR 0.22% 42,601 $4M $94.37 $1M +15,333 +56.2%
88 ALLE 0.22% 22,500 $4M $177.35 +22,500 NEW
89 MSM 0.22% 42,962 $4M $92.14 +42,962 NEW
90 LHX 0.22% 12,791 $4M $305.41 $2M +5,591 +77.7%
91 MCK 0.22% 5,030 $4M $772.54 -$3M -3,785 -42.9%
92 GENI 0.21% 310,359 $4M $12.38 -$2M -219,155 -41.4%
93 RCL 0.21% 11,785 $4M $323.58 $1M +3,880 +49.1%
94 XME 0.21% 40,000 $4M $93.19 -$2M -50,000 -55.6%
95 VNT 0.21% 88,500 $4M $41.97 $1M +20,500 +30.1%
96 FAST 0.21% 75,645 $4M $49.04 -$4M -119,206 -61.2%
97 AGNCZ 0.21% 378,760 $4M $9.79 $2M +168,444 +80.1%
98 LAMR 0.20% 30,000 $4M $122.42 +30,000 NEW
99 YUM 0.20% 23,765 $4M $152.00 -$2M -17,355 -42.2%
100 OKLO 0.20% 32,093 $4M $111.63 +32,093 NEW

Options Breakdown

19 Calls $235M Call Value 43 Puts $3.3B Put Value 14.22 P/C Ratio

Top Calls

SymbolSharesValueStatus
IWM 588,200 $142M NEW
SLV 900,000 $38M
EEM 700,000 $37M NEW
GDX 100,000 $8M
BITF 1,176,500 $3M NEW
XLU 25,000 $2M NEW
PPTA 100,000 $2M NEW
MARA 50,000 $913K NEW
EBAY 4,000 $364K NEW
KWEB 4,000 $168K NEW

Top Puts

SymbolSharesValueStatus
MSTR 4,237,200 $1.4B
IWM 3,897,000 $943M
IBIT 2,377,600 $155M
SPY 200,000 $133M
QQQ 200,000 $120M
FBTC 1,166,800 $116M
EOSE 7,743,900 $88M
MARA 2,731,000 $50M
BITO 2,499,900 $49M
HYG 599,700 $49M NEW

New Positions

SymbolValue% Port
IWM $14M 0.79%
EWY $13M 0.74%
TER $13M 0.72%
XLF $12M 0.64%
TVTX $11M 0.62%
XOM $10M 0.56%
EZA $9M 0.50%
JPM $7M 0.39%
KWEB $7M 0.38%
TEL $7M 0.37%
EWC $7M 0.36%
APH $7M 0.36%
V $6M 0.35%
MCD $6M 0.33%
PNR $5M 0.29%

Sold Out Positions

SymbolValue% Port
AAP —%
EXR —%
EXPD —%
AMP —%
IBP —%
NFG —%
GOOS —%
ARW —%
TMHC —%
DECK —%
FLR —%
MTDR —%
HLI —%
HMC —%
PB —%
View SEC EDGAR Filings for Graham Capital Management, L.P. →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms