GridLayoutManager with working wrap_content.

WrapGridLayoutManager.java

package com.inperson.android.utils.leastview;

import android.content.Context;
import android.support.v7.widget.GridLayoutManager;
import android.support.v7.widget.RecyclerView;
import android.view.View;
import android.view.ViewGroup;

public class WrappableGridLayoutManager extends GridLayoutManager {


    public WrappableGridLayoutManager(Context context, int spanCount) {
        super(context, spanCount);
    }

    private int[] mMeasuredDimension = new int[2];

    @Override
    public void onMeasure(RecyclerView.Recycler recycler, RecyclerView.State state,
                          int widthSpec, int heightSpec) {
        final int widthMode = View.MeasureSpec.getMode(widthSpec);
        final int heightMode = View.MeasureSpec.getMode(heightSpec);
        final int widthSize = View.MeasureSpec.getSize(widthSpec);
        final int heightSize = View.MeasureSpec.getSize(heightSpec);

        int width = 0;
        int height = 0;

        for (int i = 0; i < getItemCount(); i++) {

            measureScrapChild(recycler, i,
                    View.MeasureSpec.makeMeasureSpec(i, View.MeasureSpec.UNSPECIFIED),
                    View.MeasureSpec.makeMeasureSpec(i, View.MeasureSpec.UNSPECIFIED),
                    mMeasuredDimension);

            if (getOrientation() == HORIZONTAL) {

                if (i % getSpanCount() == 0) {
                    width = width + mMeasuredDimension[0];
                }

                if (i == 0) {
                    height = mMeasuredDimension[1];
                }

            } else {

                if (i % getSpanCount() == 0) {
                    height = height + mMeasuredDimension[1];
                }

                if (i == 0) {
                    width = mMeasuredDimension[0];
                }
            }
        }

        switch (widthMode) {

            case View.MeasureSpec.EXACTLY:
                width = widthSize;
            case View.MeasureSpec.AT_MOST:
            case View.MeasureSpec.UNSPECIFIED:
        }

        switch (heightMode) {

            case View.MeasureSpec.EXACTLY:
                height = heightSize;
            case View.MeasureSpec.AT_MOST:
            case View.MeasureSpec.UNSPECIFIED:
        }

        setMeasuredDimension(width, height);
    }

    private void measureScrapChild(RecyclerView.Recycler recycler, int position, int widthSpec, int heightSpec, int[] measuredDimension) {

        View view = recycler.getViewForPosition(position);

        if (view != null) {

            RecyclerView.LayoutParams p = (RecyclerView.LayoutParams) view.getLayoutParams();

            int childWidthSpec = ViewGroup.getChildMeasureSpec(widthSpec,
                    getPaddingLeft() + getPaddingRight(), p.width);
            int childHeightSpec = ViewGroup.getChildMeasureSpec(heightSpec,
                    getPaddingTop() + getPaddingBottom(), p.height);

            view.measure(childWidthSpec, childHeightSpec);

            measuredDimension[0] = view.getMeasuredWidth() + p.leftMargin + p.rightMargin;
            measuredDimension[1] = view.getMeasuredHeight() + p.bottomMargin + p.topMargin;

            recycler.recycleView(view);
        }
    }

}

Android Support Library 23.2.0 has fixed this bug.
http://android-developers.blogspot.jp/2016/02/android-support-library-232.html