Graham Capital Wealth Management, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 21, 2026), Graham Capital Wealth Management, LLC reported 59 stock positions worth $108.2 million. Its top holding was Invesco S&P 500 Equal Weight (RSPT) at 7.6% of the portfolio, followed by Invesco S&P 500 Equal Weight (RSP, 6.0%) and Eagle Financial Services (EFSI, 4.7%). Compared with Q3 2025, it opened 5 new positions, sold out of 16, added to 15 and reduced 34. The biggest buy was Invesco S&P 500 Equal Weight (RSP, shares +1000%) and the biggest sale an exit from WP Carey (WPC).
- Most Recent 13F
- Q2 2026
- Location
- WASHINGTON, DC
- CIK
- 0001907528
- Portfolio Value
- $108.2M (Q4 2025)
- SEC Filing
- 0001951757-26-000250 ↗ filed Jan 21, 2026
Holdings Value
Holdings 59 stocks · $108.2M
| RSPT Invesco S&P 500 Equal Weight | 7.58% | 180,329 | $8.2M | Add +15.8% |
| RSP Invesco S&P 500 Equal Weight | 6.02% | 33,991 | $6.5M | Add +1000.0% |
| EFSI Eagle Financial Services Inc. | 4.72% | 128,280 | $5.1M | Reduce -1.3% |
| LNG Cheniere Energy Inc. | 4.46% | 24,853 | $4.8M | Reduce -0.7% |
| BRBS Blue Ridge Bankshares Inc. | 3.94% | 998,937 | $4.3M | Reduce -1.3% |
| CMBT CMB Tech NV | 3.90% | 437,222 | $4.2M | Add +36.3% |
| SFBC Sound Financial Bancorp Inc. | 3.64% | 90,346 | $3.9M | Add +275.4% |
| HCC Warrior Met Coal Inc. | 3.54% | 43,456 | $3.8M | Reduce -1.4% |
| CFBK CF Bankshares Inc. | 3.52% | 152,885 | $3.8M | Add +6.6% |
| RSPC Invesco S&P 500 Equal Weig C | 3.33% | 90,378 | $3.6M | New |
| VTOL Bristow Group Inc. | 3.32% | 98,137 | $3.6M | Reduce -0.5% |
| RSPN Invesco S&P 500 Equal Weight | 3.23% | 61,727 | $3.5M | New |
| PEG Public Service Enterprise GP | 3.16% | 42,587 | $3.4M | Reduce -1.9% |
| CLST Catalyst Bancorp Inc. | 2.84% | 195,126 | $3.1M | Reduce -0.6% |
| CPBI Central Plains Bancshares Inc. | 2.81% | 179,945 | $3.0M | Add +98.6% |
| D Dominion Energy Inc. | 2.70% | 49,800 | $2.9M | Add +2.7% |
| ENB Enbridge Inc. | 2.53% | 57,238 | $2.7M | Reduce -1.5% |
| EOG EOG Resources Inc. | 2.43% | 25,075 | $2.6M | Reduce -2.5% |
| CTRA Coterra Energy Inc. | 2.25% | 92,446 | $2.4M | Reduce -1.4% |
| CPT Camden Property Trust | 2.23% | 21,900 | $2.4M | Reduce -0.8% |
| UDR Udr Inc. | 2.12% | 62,609 | $2.3M | Reduce -3.6% |
| NLOP Net Lease Office Property | 2.02% | 84,801 | $2.2M | Add +41.6% |
| CEPF Cantor Equity Partners Class A | 1.91% | 200,985 | $2.1M | Add +172.3% |
| CHCT Community Healthcare Trust I | 1.66% | 109,471 | $1.8M | Reduce -1.0% |
| GNK Genco Shipping & Trading Ltd. | 1.61% | 94,519 | $1.7M | New |
| CI The Cigna Group | 1.55% | 6,085 | $1.7M | Reduce -1.3% |
| MAA Mid-America Apartment Comm | 1.36% | 10,627 | $1.5M | Reduce -2.3% |
| GOOGL Alphabet Inc. Class A | 1.21% | 4,185 | $1.3M | Reduce -0.4% |
| LSBK Lake Shore Bancorp Inc. | 1.05% | 77,407 | $1.1M | Add +1.8% |
| FISV Fiserv Inc. | 1.04% | 16,807 | $1.1M | Reduce -13.4% |
| AAPL Apple Inc. | 0.93% | 3,710 | $1.0M | Add +0.2% |
| IAU iShares Gold Trust | 0.90% | 12,032 | $977K | Reduce -2.6% |
| NSTS NSTS Bancorp Inc. | 0.83% | 69,535 | $900K | New |
| KNTK Kinetik Holdings Inc. | 0.73% | 22,057 | $795K | Reduce -2.6% |
| MSFT Microsoft Corp. | 0.66% | 1,480 | $716K | Reduce -1.5% |
| JPM JPMorgan Chase & Co. | 0.61% | 2,059 | $663K | Reduce -4.3% |
| JAAA Janus Henderson Aaa Clo ETF | 0.57% | 12,230 | $619K | Reduce -8.7% |
| NEE Nextera Energy Inc. | 0.53% | 7,095 | $570K | Reduce -1.1% |
| NVDA Nvidia Corp. | 0.48% | 2,792 | $521K | Add +0.2% |
| CLOA iShares Aaa Clo Act ETF-Usdi | 0.46% | 9,700 | $502K | Add +10.4% |
| META Meta Platforms Inc. Class A | 0.46% | 759 | $501K | Reduce -0.4% |
| AEXA American Exceptionalism Class A | 0.44% | 41,800 | $476K | Reduce -1.4% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.40% | 638 | $435K | Reduce -24.6% |
| VOO Vanguard S&P 500 ETF | 0.39% | 680 | $426K | Add +4.0% |
| CEPV Cantor Equity Partners Class A | 0.37% | 38,800 | $398K | New |
| AMZN Amazon.com Inc. | 0.37% | 1,717 | $396K | Reduce -8.0% |
| PM Philip Morris International | 0.35% | 2,340 | $375K | Reduce -13.6% |
| SLV iShares Silver Trust | 0.30% | 4,979 | $321K | No change |
| KTF DWS Municipal Income Trust | 0.30% | 35,254 | $320K | Reduce -1.7% |
| WMT Walmart Inc. | 0.28% | 2,761 | $308K | No change |
| HD Home Depot Inc. | 0.27% | 862 | $297K | No change |
| IVV iShares Core S&P 500 ETF | 0.27% | 428 | $293K | No change |
| PEP Pepsico Inc. | 0.23% | 1,730 | $248K | No change |
| RTX RTX Corp. | 0.23% | 1,353 | $248K | Reduce -2.2% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.20% | 1,438 | $221K | Reduce -4.5% |
| TSLA Tesla Inc. | 0.20% | 470 | $211K | Reduce -1.1% |
| IUSG iShares Core S&P U.S. Growth | 0.19% | 1,251 | $210K | Add +0.1% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 0.19% | 2,877 | $202K | Reduce -32.7% |
| PDBC Invesco Optimum Yield Divers | 0.16% | 13,270 | $176K | Reduce -9.0% |
Other holdings (4): bonds, preferreds, convertibles and warrants · $606K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| SPECIAL OPPORTUNITY FUND (SPE 2.75 01/27/27 C) | 2.75% CNV PFD C | 21,113 | $522K | Reduce -9.7% |
| ENPHASE ENERGY INC (ENPH 0 03/01/26) | NOTE 3/0 · principal | 44,000 | $43K | New |
| 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 | $18K | No change |
Total filed on the 13F, all lines: $108.8M.
Portfolio Sells Q3 2025 → Q4 2025
| WPC WP Carey Inc. | Sold out | 0.00% | −2.33 |
| SILA Sila Realty Trust Inc. | Sold out | 0.00% | −1.78 |
| AMT American Tower Corp. | Sold out | 0.00% | −1.59 |
| LNG Cheniere Energy Inc. | Reduce -0.7% | 4.46% | −1.57 |
| FISV Fiserv Inc. | Reduce -13.4% | 1.04% | −1.52 |
| CEPO Cantor Equity Partners I-A | Sold out | 0.00% | −1.42 |
| SMC Summit Midstream Corp. | Sold out | 0.00% | −1.24 |
| ASPCU A Spac III Acquisition Corp. | Sold out | 0.00% | −1.22 |
| KOS Kosmos Energy Ltd. | Sold out | 0.00% | −1.11 |
| CAEP Cantor Equity Partners III-A | Sold out | 0.00% | −0.63 |
| PEG Public Service Enterprise GP | Reduce -1.9% | 3.16% | −0.56 |
| EOG EOG Resources Inc. | Reduce -2.5% | 2.43% | −0.52 |
| NTWOU Newbury Street II Acquisitio | Sold out | 0.00% | −0.52 |
| ENB Enbridge Inc. | Reduce -1.5% | 2.53% | −0.48 |
| BRBS Blue Ridge Bankshares Inc. | Reduce -1.3% | 3.94% | −0.45 |
| VACHU Voyager Acquisition Corp. | Sold out | 0.00% | −0.44 |
| FACTU Fact II Acquisition Corp. | Sold out | 0.00% | −0.38 |
| UDR Udr Inc. | Reduce -3.6% | 2.12% | −0.36 |
| VTOL Bristow Group Inc. | Reduce -0.5% | 3.32% | −0.33 |
| EFSI Eagle Financial Services Inc. | Reduce -1.3% | 4.72% | −0.32 |
| CI The Cigna Group | Reduce -1.3% | 1.55% | −0.27 |
| NFLX Netflix Inc. | Sold out | 0.00% | −0.27 |
| KNTK Kinetik Holdings Inc. | Reduce -2.6% | 0.73% | −0.26 |
| PG The Procter & Gamble Co. | Sold out | 0.00% | −0.22 |
| MAA Mid-America Apartment Comm | Reduce -2.3% | 1.36% | −0.19 |
| CPT Camden Property Trust | Reduce -0.8% | 2.23% | −0.19 |
| LPAAU Launch One Acquisition Corp. | Sold out | 0.00% | −0.18 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -24.6% | 0.40% | −0.18 |
| WRB WR Berkley Corp. | Reduce -32.7% | 0.19% | −0.15 |
| MSFT Microsoft Corp. | Reduce -1.5% | 0.66% | −0.14 |
| JAAA Janus Henderson Aaa Clo ETF | Reduce -8.7% | 0.57% | −0.13 |
| META Meta Platforms Inc. Class A | Reduce -0.4% | 0.46% | −0.11 |
| TAVIU Tavia Acquisition Corp. | Sold out | 0.00% | −0.10 |
| PM Philip Morris International | Reduce -13.6% | 0.35% | −0.10 |
| JPM JPMorgan Chase & Co. | Reduce -4.3% | 0.61% | −0.08 |
| CHCT Community Healthcare Trust I | Reduce -1.0% | 1.66% | −0.07 |
| AMZN Amazon.com Inc. | Reduce -8.0% | 0.37% | −0.05 |
| ENPHASE ENERGY INC (ENPH 0 03/01/26) | Sold out | 0.00% | −0.04 |
| KTF DWS Municipal Income Trust | Reduce -1.7% | 0.30% | −0.04 |
| PDBC Invesco Optimum Yield Divers | Reduce -9.0% | 0.16% | −0.04 |
| AEXA American Exceptionalism Class A | Reduce -1.4% | 0.44% | −0.04 |
| NEE Nextera Energy Inc. | Reduce -1.1% | 0.53% | −0.03 |
| CTRA Coterra Energy Inc. | Reduce -1.4% | 2.25% | −0.03 |
| TSLA Tesla Inc. | Reduce -1.1% | 0.20% | −0.02 |
| IAU iShares Gold Trust | Reduce -2.6% | 0.90% | −0.02 |
| TJX TJX Companies Inc. | Reduce -4.5% | 0.20% | −0.02 |
| RTX RTX Corp. | Reduce -2.2% | 0.23% | −0.01 |
| GOOGL Alphabet Inc. Class A | Reduce -0.4% | 1.21% | +0.16 |
| CLST Catalyst Bancorp Inc. | Reduce -0.6% | 2.84% | +0.19 |
| HCC Warrior Met Coal Inc. | Reduce -1.4% | 3.54% | +0.66 |
Portfolio Buys Q3 2025 → Q4 2025
| RSP Invesco S&P 500 Equal Weight | Add +1000.0% | 6.02% | +5.42 |
| RSPC Invesco S&P 500 Equal Weig C | New | 3.33% | +3.33 |
| RSPN Invesco S&P 500 Equal Weight | New | 3.23% | +3.23 |
| SFBC Sound Financial Bancorp Inc. | Add +275.4% | 3.64% | +2.51 |
| GNK Genco Shipping & Trading Ltd. | New | 1.61% | +1.61 |
| CPBI Central Plains Bancshares Inc. | Add +98.6% | 2.81% | +1.31 |
| CEPF Cantor Equity Partners Class A | Add +172.3% | 1.91% | +1.14 |
| NSTS NSTS Bancorp Inc. | New | 0.83% | +0.83 |
| CMBT CMB Tech NV | Add +36.3% | 3.90% | +0.81 |
| RSPT Invesco S&P 500 Equal Weight | Add +15.8% | 7.58% | +0.47 |
| CEPV Cantor Equity Partners Class A | New | 0.37% | +0.37 |
| NLOP Net Lease Office Property | Add +41.6% | 2.02% | +0.20 |
| LSBK Lake Shore Bancorp Inc. | Add +1.8% | 1.05% | +0.04 |
| CFBK CF Bankshares Inc. | Add +6.6% | 3.52% | +0.00 |
| CLOA iShares Aaa Clo Act ETF-Usdi | Add +10.4% | 0.46% | −0.00 |
| VOO Vanguard S&P 500 ETF | Add +4.0% | 0.39% | −0.02 |
| IUSG iShares Core S&P U.S. Growth | Add +0.1% | 0.19% | −0.02 |
| AAPL Apple Inc. | Add +0.2% | 0.93% | −0.04 |
| NVDA Nvidia Corp. | Add +0.2% | 0.48% | −0.05 |
| D Dominion Energy Inc. | Add +2.7% | 2.70% | −0.35 |
Notes & Other Activity Q3 2025 → Q4 2025
| SPECIAL OPPORTUNITY FUND (SPE 2.75 01/27/27 C) | 2.75% CNV PFD C | Reduce -9.7% | 21,113 | $522K |
| ENPHASE ENERGY INC (ENPH 0 03/01/26) | NOTE 3/0 · principal | New | 44,000 | $43K |
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 |