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Asset Manager ← All Institutions

Graham Capital Management, L.P.

Q4 2025 · Filed 2026-02-17
Market Value
$2.0B
+10.4%
Holdings
1,512
-75
New Purchases
403
Added To
346
Closed
424
Reduced
335
Top 10 Concentration
21.4%
Turnover
54.7%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
EWC 2.19% 0.36% +1.83% $44M
CIFR 1.68% 0.00% +1.68% $33M
NFLX 1.86% 0.28% +1.58% $37M
UPS 1.51% 0.10% +1.40% $30M
NVDA 2.09% 0.98% +1.10% $41M
EOSE 1.03% 0.00% +1.03% $21M
META 2.50% 1.62% +0.88% $50M
AMZN 2.87% 2.03% +0.83% $57M
OPEN 0.81% 0.00% +0.81% $16M
CRM 1.12% 0.32% +0.79% $22M
C 1.42% 0.63% +0.79% $28M
MCD 1.06% 0.33% +0.73% $21M
OIH 0.69% 0.00% +0.69% $14M
INTC 0.68% 0.00% +0.68% $14M
MU 1.38% 0.78% +0.61% $27M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
IBIT 3.87% 8.35% -4.48% $77M
GDX 0.11% 3.45% -3.34% $2M
XLU 0.81% 3.08% -2.27% $16M
VTV 0.00% 1.82% -1.82% $0
XLI 0.21% 1.37% -1.16% $4M
IWM 0.00% 0.79% -0.79% $0
EWY 0.00% 0.74% -0.74% $0
XLF 0.00% 0.64% -0.64% $0
TVTX 0.00% 0.62% -0.62% $0
ETHA 0.34% 0.92% -0.58% $7M
LNG 0.00% 0.51% -0.51% $0
EZA 0.00% 0.50% -0.50% $0
KO 0.18% 0.62% -0.45% $3M
GTES 0.00% 0.42% -0.42% $0
BBIO 0.39% 0.80% -0.41% $8M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 50 $445M 22.4%
Large Cap 470 $928M 46.7%
Mid Cap 459 $439M 22.1%
Small Cap 414 $147M 7.4%
Micro Cap 119 $27M 1.3%

Portfolio Analytics

Avg Market Cap
$48.9B
Median Market Cap
$4.2B
Avg P/E
33.8
Median P/E
21.6
Avg Dividend Yield
0.02%
Avg Beta
1.11
# Stocks
1,468
# ETFs / Funds
44

Top Holdings (1,512 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 IBIT 3.87% 1,547,855 $77M $49.65 -$73M -764,557 -33.1%
2 AMZN 2.87% 246,872 $57M $230.82 $20M +80,174 +48.1%
3 META 2.50% 75,237 $50M $660.09 $21M +35,584 +89.7%
4 EWC 2.19% 806,849 $44M $53.93 $37M +677,849 +525.5%
5 NVDA 2.09% 222,279 $41M $186.50 $24M +127,441 +134.4%
6 NFLX 1.86% 393,923 $37M $93.76 $32M +389,751 +9342.1%
7 CIFR 1.68% 2,258,042 $33M $14.76 +2,258,042 NEW
8 UPS 1.51% 301,414 $30M $99.19 $28M +279,434 +1271.3%
9 C 1.42% 241,094 $28M $116.69 $17M +129,391 +115.8%
10 MU 1.38% 96,114 $27M $285.41 $13M +12,749 +15.3%
11 BA 1.29% 118,056 $26M $217.12 $9M +40,438 +52.1%
12 FSLR 1.29% 98,074 $26M $261.23 $12M +38,474 +64.5%
13 GOOG 1.27% 80,654 $25M $313.80 $13M +29,871 +58.8%
14 CRM 1.12% 83,752 $22M $264.91 $16M +59,220 +241.4%
15 CME 1.10% 80,032 $22M $273.08 $1M +3,338 +4.3%
16 MCD 1.06% 68,737 $21M $305.63 $15M +49,066 +249.4%
17 EOSE 1.03% 1,791,515 $21M $11.46 +1,791,515 NEW
18 KWEB 0.95% 555,390 $19M $34.05 $12M +392,221 +240.4%
19 OPEN 0.81% 2,768,208 $16M $5.83 +2,768,208 NEW
20 XLU 0.81% 377,830 $16M $42.69 -$39M -257,376 -40.5%
21 ERJ 0.79% 245,272 $16M $64.37 $4M +53,000 +27.6%
22 OIH 0.69% 48,000 $14M $284.77 +48,000 NEW
23 INTC 0.68% 367,124 $14M $36.90 +367,124 NEW
24 FXI 0.64% 333,000 $13M $38.29 $4M +132,000 +65.7%
25 MSFT 0.60% 24,483 $12M $483.62 $7M +14,478 +144.7%
26 VZ 0.58% 284,227 $12M $40.73 +284,227 NEW
27 PG 0.57% 79,619 $11M $143.31 $10M +69,988 +726.7%
28 RSP 0.57% 58,800 $11M $191.56 -$1M -6,200 -9.5%
29 HD 0.56% 32,408 $11M $344.10 $3M +13,008 +67.0%
30 COF 0.55% 44,664 $11M $242.36 +44,664 NEW
31 TER 0.54% 55,151 $11M $193.56 -$2M -38,679 -41.2%
32 ADP 0.52% 39,971 $10M $257.23 +39,971 NEW
33 ADBE 0.51% 28,824 $10M $349.99 $5M +14,876 +106.7%
34 TJX 0.51% 65,468 $10M $153.61 +65,468 NEW
35 V 0.50% 28,032 $10M $350.71 $4M +9,753 +53.4%
36 JPM 0.49% 30,000 $10M $322.22 $3M +7,500 +33.3%
37 IREN 0.46% 242,729 $9M $37.77 +242,729 NEW
38 XHB 0.45% 87,200 $9M $102.96 +87,200 NEW
39 IGV 0.44% 82,500 $9M $105.69 +82,500 NEW
40 AVGO 0.44% 25,000 $9M $346.10 $8M +22,561 +925.0%
41 MO 0.43% 146,797 $8M $57.66 -$906K +4,944 +3.5%
42 IEX 0.42% 47,105 $8M $177.94 $8M +45,293 +2499.6%
43 CMS 0.42% 118,748 $8M $69.93 -$1M -11,528 -8.8%
44 SRLN 0.42% 200,000 $8M $41.27 +200,000 NEW
45 MELI 0.40% 3,898 $8M $2,014.26 -$4M -1,069 -21.5%
46 BBIO 0.39% 101,051 $8M $76.49 -$7M -177,077 -63.7%
47 GIS 0.39% 165,515 $8M $46.50 -$665K -324 -0.2%
48 XLV 0.39% 49,500 $8M $154.80 +49,500 NEW
49 XOM 0.39% 63,585 $8M $120.34 -$2M -26,227 -29.2%
50 CHKP 0.38% 40,770 $8M $185.56 $6M +32,155 +373.2%
51 AME 0.37% 35,810 $7M $205.31 -$561K -6,281 -14.9%
52 ABC 0.37% 21,715 $7M $337.75 $4M +10,615 +95.6%
53 WMT 0.36% 64,020 $7M $111.41 $6M +49,048 +327.6%
54 ALL 0.36% 34,011 $7M $208.15 $2M +10,996 +47.8%
55 BCI 0.34% 350,000 $7M $19.53 +350,000 NEW
56 UBER 0.34% 82,491 $7M $81.71 -$3M -19,332 -19.0%
57 ETHA 0.34% 300,000 $7M $22.43 -$10M -226,904 -43.1%
58 ETN 0.34% 21,042 $7M $318.51 +21,042 NEW
59 DG 0.33% 50,000 $7M $132.77 -$5M -65,000 -56.5%
60 CTAS 0.33% 35,285 $7M $188.07 $5M +29,312 +490.7%
61 RL 0.32% 18,178 $6M $353.61 $6M +15,782 +658.7%
62 MET 0.31% 77,510 $6M $78.94 +77,510 NEW
63 SABR 0.30% 4,451,200 $6M $1.36 +4,451,200 NEW
64 CNI 0.30% 59,880 $6M $98.85 $6M +56,231 +1541.0%
65 PRU 0.30% 52,320 $6M $112.88 +52,320 NEW
66 NTRA 0.30% 25,747 $6M $229.09 $5M +22,644 +729.8%
67 CAT 0.29% 10,000 $6M $572.87 +10,000 NEW
68 RTX 0.29% 30,890 $6M $183.40 $5M +24,000 +348.3%
69 GD 0.28% 16,802 $6M $336.66 $1M +3,802 +29.2%
70 SPY 0.27% 8,000 $5M $681.92 -$5M -7,650 -48.9%
71 T 0.27% 215,797 $5M $24.84 $4M +184,544 +590.5%
72 CMCSA 0.27% 178,840 $5M $29.89 -$3M -96,571 -35.1%
73 SBUX 0.26% 61,493 $5M $84.21 $5M +54,730 +809.3%
74 RMD 0.26% 21,477 $5M $240.87 $3M +13,801 +179.8%
75 NU 0.25% 302,035 $5M $16.74 -$2M -152,855 -33.6%
76 FIX 0.25% 5,277 $5M $933.29 $2M +1,766 +50.3%
77 RSG 0.25% 23,100 $5M $211.93 +23,100 NEW
78 BK 0.24% 41,456 $5M $116.09 $2M +19,807 +91.5%
79 HSAI 0.23% 204,871 $5M $22.40 +204,871 NEW
80 AYI 0.23% 12,694 $5M $360.04 $2M +5,244 +70.4%
81 FLS 0.23% 65,494 $5M $69.38 +65,494 NEW
82 APH 0.23% 33,595 $5M $135.14 -$2M -19,061 -36.2%
83 AGNCZ 0.23% 420,443 $5M $10.72 $799K +41,683 +11.0%
84 MCK 0.22% 5,370 $4M $820.29 $519K +340 +6.8%
85 FDX 0.22% 15,224 $4M $288.86 +15,224 NEW
86 URI 0.22% 5,420 $4M $809.32 -$2M -1,480 -21.4%
87 LIN 0.22% 10,207 $4M $426.39 $1M +3,774 +58.7%
88 AAPL 0.22% 16,000 $4M $271.86 $873K +2,346 +17.2%
89 FTV 0.21% 77,318 $4M $55.21 +77,318 NEW
90 XLI 0.21% 27,500 $4M $155.12 -$20M -132,602 -82.8%
91 RAL 0.21% 83,512 $4M $50.91 +83,512 NEW
92 VMC 0.21% 14,750 $4M $285.22 +14,750 NEW
93 PWR 0.21% 9,792 $4M $422.06 $3M +5,927 +153.3%
94 APG 0.21% 107,747 $4M $38.26 -$370K -22,948 -17.6%
95 MNST 0.21% 53,188 $4M $76.67 -$441K -13,947 -20.8%
96 FCX 0.20% 79,802 $4M $50.79 $3M +42,953 +116.6%
97 GM 0.20% 49,744 $4M $81.32 $2M +13,946 +39.0%
98 ZM 0.20% 46,720 $4M $86.29 $2M +27,984 +149.4%
99 SLB 0.20% 105,000 $4M $38.38 +105,000 NEW
100 NNN 0.20% 100,320 $4M $39.63 $2M +44,502 +79.7%

Options Breakdown

18 Calls $41M Call Value 35 Puts $1.2B Put Value 29.08 P/C Ratio

Top Calls

SymbolSharesValueStatus
KWEB 865,000 $29M
TLRY 405,400 $4M NEW
RBLX 25,000 $2M NEW
TSLA 4,500 $2M NEW
ORCL 5,500 $1M NEW
ONDS 100,000 $976K NEW
SLB 25,000 $960K NEW
MARA 50,000 $449K
SLV $0 SOLD
FSLR $0 SOLD

Top Puts

SymbolSharesValueStatus
MSTR 4,160,600 $632M
QQQ 190,000 $117M
IBIT 2,161,700 $107M
FBTC 1,166,800 $89M
TLT 450,000 $39M
GME 1,675,100 $34M
HYG 400,000 $32M
EOSE 2,655,100 $30M
BITO 2,499,900 $30M
PCT 2,609,600 $22M

New Positions

SymbolValue% Port
CIFR $33M 1.68%
EOSE $21M 1.03%
OPEN $16M 0.81%
OIH $14M 0.69%
INTC $14M 0.68%
VZ $12M 0.58%
COF $11M 0.55%
ADP $10M 0.52%
TJX $10M 0.51%
IREN $9M 0.46%
XHB $9M 0.45%
IGV $9M 0.44%
SRLN $8M 0.42%
XLV $8M 0.39%
BCI $7M 0.34%

Sold Out Positions

SymbolValue% Port
ALB —%
EVC —%
RH —%
AN —%
OC —%
JHG —%
HPE —%
UAA —%
QUAD —%
AGCO —%
FOUR —%
BEN —%
BMA —%
ALLE —%
AMT —%
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