Graham Capital Wealth Management, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 7, 2025), Graham Capital Wealth Management, LLC reported 70 stock positions worth $97.5 million. Its top holding was Invesco S&P 500 Equal Weight (RSPT) at 7.1% of the portfolio, followed by Cheniere Energy (LNG, 6.0%) and Eagle Financial Services (EFSI, 5.0%). Compared with Q2 2025, it opened 12 new positions, sold out of 7, added to 13 and reduced 38. The biggest buy was a new position in Invesco S&P 500 Equal Weight (RSPT) and the biggest sale an exit from Aldel Financial II (ALDFU).
- Most Recent 13F
- Q2 2026
- Location
- WASHINGTON, DC
- CIK
- 0001907528
- Portfolio Value
- $97.5M (Q3 2025)
- SEC Filing
- 0001951757-25-001348 ↗ filed Nov 7, 2025
Holdings Value
Holdings 70 stocks · $97.5M
| RSPT Invesco S&P 500 Equal Weight | 7.12% | 155,730 | $6.9M | New |
| LNG Cheniere Energy Inc. | 6.03% | 25,032 | $5.9M | Reduce -0.2% |
| EFSI Eagle Financial Services Inc. | 5.04% | 129,918 | $4.9M | Add +5.3% |
| BRBS Blue Ridge Bankshares Inc. | 4.39% | 1,011,851 | $4.3M | Add +21.1% |
| PEG Public Service Enterprise GP | 3.72% | 43,420 | $3.6M | Reduce -0.3% |
| VTOL Bristow Group Inc. | 3.65% | 98,596 | $3.6M | Reduce -0.5% |
| CFBK CF Bankshares Inc. | 3.52% | 143,394 | $3.4M | Reduce -1.5% |
| CMBT CMB Tech NV | 3.09% | 320,722 | $3.0M | New |
| D Dominion Energy Inc. | 3.04% | 48,499 | $3.0M | Add +0.0% |
| ENB Enbridge Inc. | 3.00% | 58,089 | $2.9M | Reduce -1.9% |
| EOG EOG Resources Inc. | 2.95% | 25,707 | $2.9M | Add +1.2% |
| HCC Warrior Met Coal Inc. | 2.88% | 44,089 | $2.8M | Reduce -2.9% |
| CLST Catalyst Bancorp Inc. | 2.65% | 196,257 | $2.6M | Reduce -1.4% |
| FISV Fiserv Inc. | 2.57% | 19,411 | $2.5M | New |
| UDR Udr Inc. | 2.48% | 64,982 | $2.4M | Reduce -0.5% |
| CPT Camden Property Trust | 2.42% | 22,072 | $2.4M | Reduce -1.6% |
| WPC WP Carey Inc. | 2.33% | 33,624 | $2.3M | Reduce -7.8% |
| CTRA Coterra Energy Inc. | 2.27% | 93,772 | $2.2M | Add +1.1% |
| NLOP Net Lease Office Property | 1.82% | 59,902 | $1.8M | Reduce -1.5% |
| CI The Cigna Group | 1.82% | 6,162 | $1.8M | Reduce -0.4% |
| SILA Sila Realty Trust Inc. | 1.78% | 69,139 | $1.7M | Reduce -2.3% |
| CHCT Community Healthcare Trust I | 1.74% | 110,617 | $1.7M | Add +1.6% |
| AMT American Tower Corp. | 1.59% | 8,054 | $1.5M | Reduce -3.5% |
| MAA Mid-America Apartment Comm | 1.56% | 10,881 | $1.5M | Reduce -1.1% |
| CPBI Central Plains Bancshares Inc. | 1.50% | 90,618 | $1.5M | Add +192.8% |
| CEPO Cantor Equity Partners I-A | 1.42% | 132,296 | $1.4M | Reduce -1.4% |
| SMC Summit Midstream Corp. | 1.24% | 58,972 | $1.2M | Reduce -0.3% |
| ASPCU A Spac III Acquisition Corp. | 1.22% | 113,663 | $1.2M | Reduce -48.8% |
| SFBC Sound Financial Bancorp Inc. | 1.14% | 24,066 | $1.1M | Add +357.6% |
| KOS Kosmos Energy Ltd. | 1.11% | 654,681 | $1.1M | Reduce -9.0% |
| GOOGL Alphabet Inc. Class A | 1.05% | 4,200 | $1.0M | Reduce -0.2% |
| LSBK Lake Shore Bancorp Inc. | 1.01% | 76,031 | $988K | New |
| KNTK Kinetik Holdings Inc. | 0.99% | 22,656 | $968K | Reduce -1.9% |
| AAPL Apple Inc. | 0.97% | 3,704 | $943K | Reduce -0.4% |
| IAU iShares Gold Trust | 0.92% | 12,352 | $899K | Reduce -0.6% |
| MSFT Microsoft Corp. | 0.80% | 1,503 | $778K | No change |
| CEPF Cantor Equity Partners Class A | 0.77% | 73,800 | $752K | New |
| JAAA Janus Henderson Aaa Clo ETF | 0.70% | 13,390 | $680K | Add +14.5% |
| JPM JPMorgan Chase & Co. | 0.70% | 2,152 | $679K | No change |
| CAEP Cantor Equity Partners III-A | 0.63% | 59,700 | $616K | Reduce -4.2% |
| RSP Invesco S&P 500 Equal Weight | 0.60% | 3,090 | $586K | New |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.58% | 846 | $564K | Add +10.4% |
| META Meta Platforms Inc. Class A | 0.57% | 762 | $560K | No change |
| NEE Nextera Energy Inc. | 0.56% | 7,175 | $542K | Reduce -1.4% |
| NVDA Nvidia Corp. | 0.53% | 2,786 | $520K | Add +2.6% |
| NTWOU Newbury Street II Acquisitio | 0.52% | 49,172 | $509K | Reduce -2.5% |
| AEXA American Exceptionalism Class A | 0.48% | 42,400 | $463K | New |
| CLOA iShares Aaa Clo Act ETF-Usdi | 0.47% | 8,789 | $457K | Add +3.8% |
| PM Philip Morris International | 0.45% | 2,707 | $439K | Reduce -1.6% |
| VACHU Voyager Acquisition Corp. | 0.44% | 40,701 | $429K | Reduce -1.5% |
| AMZN Amazon.com Inc. | 0.42% | 1,866 | $410K | Reduce -1.9% |
| VOO Vanguard S&P 500 ETF | 0.41% | 654 | $400K | Add +5.7% |
| FACTU Fact II Acquisition Corp. | 0.38% | 35,975 | $374K | Reduce -74.4% |
| HD Home Depot Inc. | 0.36% | 862 | $349K | Reduce -7.5% |
| KTF DWS Municipal Income Trust | 0.34% | 35,852 | $329K | Reduce -8.3% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 0.34% | 4,277 | $328K | No change |
| IVV iShares Core S&P 500 ETF | 0.29% | 428 | $286K | No change |
| WMT Walmart Inc. | 0.29% | 2,761 | $285K | Reduce -2.3% |
| NFLX Netflix Inc. | 0.27% | 217 | $260K | Reduce -6.5% |
| PEP Pepsico Inc. | 0.25% | 1,730 | $243K | Reduce -23.7% |
| RTX RTX Corp. | 0.24% | 1,384 | $232K | No change |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.22% | 1,506 | $218K | New |
| PG The Procter & Gamble Co. | 0.22% | 1,382 | $212K | Reduce -2.5% |
| TSLA Tesla Inc. | 0.22% | 475 | $211K | New |
| SLV iShares Silver Trust | 0.22% | 4,979 | $211K | New |
| IUSG iShares Core S&P U.S. Growth | 0.21% | 1,250 | $206K | New |
| PDBC Invesco Optimum Yield Divers | 0.20% | 14,584 | $196K | Reduce -1.8% |
| LPAAU Launch One Acquisition Corp. | 0.18% | 16,353 | $173K | Reduce -7.9% |
| TAVIU Tavia Acquisition Corp. | 0.10% | 10,000 | $101K | No change |
| ENPHASE ENERGY INC (ENPH 0 03/01/26) | 0.04% | 44,000 | $43K | New |
Other holdings (3): bonds, preferreds, convertibles and warrants · $624K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| SPECIAL OPPORTUNITY FUND (SPE 2.75 01/27/27 C) | 2.75% CNV PFD C | 23,374 | $583K | Reduce -5.2% |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | 25,000 | $23K | No change |
| OKTA INC (OKTA 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | 18,000 | $17K | Reduce -21.7% |
Total filed on the 13F, all lines: $98.2M.
Portfolio Sells Q2 2025 → Q3 2025
| ALDFU Aldel Financial II Inc. | Sold out | 0.00% | −5.19 |
| HSPTU Horizon Space Acquisition II | Sold out | 0.00% | −3.27 |
| ASPCU A Spac III Acquisition Corp. | Reduce -48.8% | 1.22% | −1.31 |
| FACTU Fact II Acquisition Corp. | Reduce -74.4% | 0.38% | −1.23 |
| LNG Cheniere Energy Inc. | Reduce -0.2% | 6.03% | −0.82 |
| WLACU Willow Lane Acquisition Corp. | Sold out | 0.00% | −0.76 |
| FTW.U Eqv Ventures Acquisition Cor | Sold out | 0.00% | −0.71 |
| DYNCU Dynamix Corp. | Sold out | 0.00% | −0.54 |
| UDR Udr Inc. | Reduce -0.5% | 2.48% | −0.51 |
| AMT American Tower Corp. | Reduce -3.5% | 1.59% | −0.48 |
| CI The Cigna Group | Reduce -0.4% | 1.82% | −0.47 |
| CPT Camden Property Trust | Reduce -1.6% | 2.42% | −0.42 |
| NLOP Net Lease Office Property | Reduce -1.5% | 1.82% | −0.40 |
| PEG Public Service Enterprise GP | Reduce -0.3% | 3.72% | −0.40 |
| CFBK CF Bankshares Inc. | Reduce -1.5% | 3.52% | −0.39 |
| SMC Summit Midstream Corp. | Reduce -0.3% | 1.24% | −0.39 |
| CEPO Cantor Equity Partners I-A | Reduce -1.4% | 1.42% | −0.37 |
| KOS Kosmos Energy Ltd. | Reduce -9.0% | 1.11% | −0.27 |
| TIP iShares Tips Bond ETF | Sold out | 0.00% | −0.27 |
| MAA Mid-America Apartment Comm | Reduce -1.1% | 1.56% | −0.27 |
| V Visa Inc. Class A | Sold out | 0.00% | −0.23 |
| WPC WP Carey Inc. | Reduce -7.8% | 2.33% | −0.22 |
| KNTK Kinetik Holdings Inc. | Reduce -1.9% | 0.99% | −0.15 |
| CLST Catalyst Bancorp Inc. | Reduce -1.4% | 2.65% | −0.12 |
| PM Philip Morris International | Reduce -1.6% | 0.45% | −0.11 |
| CAEP Cantor Equity Partners III-A | Reduce -4.2% | 0.63% | −0.11 |
| SILA Sila Realty Trust Inc. | Reduce -2.3% | 1.78% | −0.10 |
| PEP Pepsico Inc. | Reduce -23.7% | 0.25% | −0.09 |
| NFLX Netflix Inc. | Reduce -6.5% | 0.27% | −0.08 |
| NTWOU Newbury Street II Acquisitio | Reduce -2.5% | 0.52% | −0.06 |
| KTF DWS Municipal Income Trust | Reduce -8.3% | 0.34% | −0.05 |
| AMZN Amazon.com Inc. | Reduce -1.9% | 0.42% | −0.05 |
| VACHU Voyager Acquisition Corp. | Reduce -1.5% | 0.44% | −0.04 |
| PG The Procter & Gamble Co. | Reduce -2.5% | 0.22% | −0.04 |
| LPAAU Launch One Acquisition Corp. | Reduce -7.9% | 0.18% | −0.03 |
| HD Home Depot Inc. | Reduce -7.5% | 0.36% | −0.03 |
| WMT Walmart Inc. | Reduce -2.3% | 0.29% | −0.02 |
| PDBC Invesco Optimum Yield Divers | Reduce -1.8% | 0.20% | −0.02 |
| VTOL Bristow Group Inc. | Reduce -0.5% | 3.65% | −0.01 |
| NEE Nextera Energy Inc. | Reduce -1.4% | 0.56% | −0.01 |
| ENB Enbridge Inc. | Reduce -1.9% | 3.00% | −0.00 |
| IAU iShares Gold Trust | Reduce -0.6% | 0.92% | +0.05 |
| AAPL Apple Inc. | Reduce -0.4% | 0.97% | +0.11 |
| GOOGL Alphabet Inc. Class A | Reduce -0.2% | 1.05% | +0.21 |
| HCC Warrior Met Coal Inc. | Reduce -2.9% | 2.88% | +0.54 |
Portfolio Buys Q2 2025 → Q3 2025
| RSPT Invesco S&P 500 Equal Weight | New | 7.12% | +7.12 |
| CMBT CMB Tech NV | New | 3.09% | +3.09 |
| FISV Fiserv Inc. | New | 2.57% | +2.57 |
| BRBS Blue Ridge Bankshares Inc. | Add +21.1% | 4.39% | +1.02 |
| LSBK Lake Shore Bancorp Inc. | New | 1.01% | +1.01 |
| CPBI Central Plains Bancshares Inc. | Add +192.8% | 1.50% | +0.98 |
| SFBC Sound Financial Bancorp Inc. | Add +357.6% | 1.14% | +0.87 |
| EFSI Eagle Financial Services Inc. | Add +5.3% | 5.04% | +0.80 |
| CEPF Cantor Equity Partners Class A | New | 0.77% | +0.77 |
| RSP Invesco S&P 500 Equal Weight | New | 0.60% | +0.60 |
| AEXA American Exceptionalism Class A | New | 0.48% | +0.48 |
| TJX TJX Companies Inc. | New | 0.22% | +0.22 |
| TSLA Tesla Inc. | New | 0.22% | +0.22 |
| SLV iShares Silver Trust | New | 0.22% | +0.22 |
| IUSG iShares Core S&P U.S. Growth | New | 0.21% | +0.21 |
| NVDA Nvidia Corp. | Add +2.6% | 0.53% | +0.05 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +10.4% | 0.58% | +0.05 |
| ENPHASE ENERGY INC (ENPH 0 03/01/26) | New | 0.04% | +0.04 |
| JAAA Janus Henderson Aaa Clo ETF | Add +14.5% | 0.70% | +0.03 |
| VOO Vanguard S&P 500 ETF | Add +5.7% | 0.41% | +0.02 |
| CLOA iShares Aaa Clo Act ETF-Usdi | Add +3.8% | 0.47% | −0.02 |
| D Dominion Energy Inc. | Add +0.0% | 3.04% | −0.03 |
| CHCT Community Healthcare Trust I | Add +1.6% | 1.74% | −0.30 |
| CTRA Coterra Energy Inc. | Add +1.1% | 2.27% | −0.36 |
| EOG EOG Resources Inc. | Add +1.2% | 2.95% | −0.45 |
Notes & Other Activity Q2 2025 → Q3 2025
| SPECIAL OPPORTUNITY FUND (SPE 2.75 01/27/27 C) | 2.75% CNV PFD C | Reduce -5.2% | 23,374 | $583K |
| OKTA INC (OKTA 0.125 09/01/25) | NOTE 0.125% 9/0 · principal | Sold out | 132,000 | $131Kbefore exit |
| ENPHASE ENERGY INC (ENPH 0 03/01/26) | NOTE 3/0 · principal | Sold out | 44,000 | $42Kbefore exit |
| OKTA INC (OKTA 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | Reduce -21.7% | 18,000 | $17K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 61 | $129.3M | AEXA, RSPT, EFSI, CEPF, RSPC |
| Q1 2026 | 54 | $112.6M | AEXA, RSPT, RSPC, CMBT, EFSI |
| Q4 2025 | 59 | $108.2M | RSPT, RSP, EFSI, LNG, BRBS |
| Q3 2025 | 70 | $97.5M | RSPT, LNG, EFSI, BRBS, PEG |
| Q2 2025 | 65 | $89.2M | LNG, ALDFU, EFSI, PEG, CFBK |
| Q1 2025 | 63 | $92.7M | LNG, ALDFU, CI, CFBK, EOG |
| Q4 2024 | 72 | $115.4M | LNG, IAU, ALDFU, SILA, CFBK |
| Q3 2024 | 57 | $94.5M | IAU, USMV, LNG, SILA, EQC |
| Q2 2024Amended | 46 | $70.9M | IAU, USMV, LNG, EQC, MAA |
| Q1 2024Amended | 39 | $55.3M | IAU, LNG, EQC, USMV, HCC |