Graham Capital Management’s State Street SPDR S&P Homebuilders ETF XHB Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q1	$4.05M	Sell	41,000 -46,200	-53%	-$5.06M	0.14%	151
2025 Q4	$8.98M	Buy	+87,200	New	+$9.26M	0.31%	70
2025 Q3	–	Sell	-86,000	Closed	-$8.48M	–	1721
2025 Q2	$8.48M	Buy	86,000 +44,000	+105%	+$4.18M	0.26%	80
2025 Q1	$4.07M	Buy	42,000 +15,500	+58%	+$1.61M	0.13%	162
2024 Q4	$2.77M	Buy	26,500 +2,500	+10%	+$293K	0.09%	228
2024 Q3	$2.99M	Buy	+24,000	New	+$2.71M	0.1%	191
2023 Q3	–	Sell	-20,000	Closed	-$1.61M	–	1328
2023 Q2	$1.61M	Buy	+20,000	New	+$1.43M	0.06%	256
2022 Q3	–	Sell	-137,000	Closed	-$7.5M	–	1356
2022 Q2	$7.5M	Buy	+137,000	New	+$8.24M	0.35%	45
2017 Q2	–	Sell	-25,000	Closed	-$931K	–	116
2017 Q1	$931K	Buy	+25,000	New	+$891K	0.09%	89