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GCM

Graham Capital Management Portfolio holdings

AUM $4.14B
1-Year Est. Return 17.82%
This Fund
S&P 500
This Quarter Est. Return
+8.47%
1 Year Est. Return
+17.82%
3 Year Est. Return
+41.13%
5 Year Est. Return
+43.39%
10 Year Est. Return
+148.36%
AUM
$6.62B
AUM Growth
+$902M
Cap. Flow
+$1.08B
Cap. Flow %
16.3%
Top 10 Hldgs %
50.26%
Holding
1,697
New
464
Increased
345
Reduced
451
Closed
433

Top Buys

Rank Stock Value
1
IBIT icon
iShares Bitcoin Trust
IBIT
+$19.3M
2
VTV icon
Vanguard Morningstar Value ETF
VTV
+$18.6M
3
ICE icon
Intercontinental Exchange
ICE
+$14.5M
4
EEM icon
iShares MSCI Emerging Markets ETF
EEM
+$14.3M
5
MNST icon
Monster Beverage
MNST
+$13.3M

Top Sells

Rank Stock Value
1
C icon
Citigroup
C
+$16.9M
2
JNJ icon
Johnson & Johnson
JNJ
+$16M
3
ICOW icon
Pacer Developed Markets International Cash Cows 100 ETF
ICOW
+$15.6M
4
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$14.5M
5
VUG icon
Vanguard Morningstar Growth ETF
VUG
+$10.8M

Sector Composition

Rank Sector Weight
1 Technology 5.74%
2 Financials 5.16%
3 Industrials 4.35%
4 Consumer Discretionary 3.72%
5 Healthcare 3.09%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AAPL icon
26
PUT
Apple
AAPL
$4.54T
$18.5M 0.28%
+90,000
New +$18.2M
ICE icon
27
Intercontinental Exchange
ICE
$84.1B
$16.3M 0.25%
88,878
+84,541
+1,949% +$14.5M
CAT icon
28
Caterpillar
CAT
$401B
$15.8M 0.24%
40,582
+37,550
+1,238% +$12.5M
SPY icon
29
State Street SPDR S&P 500 ETF Trust
SPY
$819B
$15.5M 0.23%
25,152
+14,552
+137% +$8.32M
EEM icon
30
iShares MSCI Emerging Markets ETF
EEM
$29.5B
$15.4M 0.23%
+318,425
New +$14.3M
GRPN icon
31
PUT
Groupon
GRPN
$1.04B
$14.2M 0.21%
+425,000
New +$10.8M
MNST icon
32
Monster Beverage
MNST
$92.4B
$13.6M 0.21%
+217,471
New +$13.3M
NU icon
33
Nu Holdings
NU
$69.9B
$13.6M 0.21%
991,909
-272,387
-22% -$3.26M
BX icon
34
Blackstone
BX
$109B
$13.4M 0.2%
89,723
+49,273
+122% +$6.77M
APLD icon
35
PUT
Applied Digital
APLD
$8.6B
$13.3M 0.2%
+1,320,200
New +$9.74M
ADI icon
36
Analog Devices
ADI
$184B
$13.3M 0.2%
+55,753
New +$11.6M
SCHW
37
Charles Schwab
SCHW
$188B
$12.8M 0.19%
140,487
+121,776
+651% +$10.2M
GOOG icon
38
Alphabet (Google) Class C
GOOG
$4.4T
$12.7M 0.19%
71,676
-3,924
-5% -$648K
MU icon
39
Micron Technology
MU
$1.01T
$12.6M 0.19%
102,266
-53
-0.1% -$4.95K
NFLX icon
40
Netflix
NFLX
$309B
$12.5M 0.19%
93,490
-9,090
-9% -$1.03M
CVX icon
41
Chevron
CVX
$371B
$12.4M 0.19%
86,618
+83,066
+2,339% +$11.7M
ECHO
42
PUT
EchoStar
ECHO
$25.5B
$12M 0.18%
+432,900
New +$9.51M
CSCO icon
43
Cisco
CSCO
$479B
$11.9M 0.18%
171,050
-29,805
-15% -$1.83M
EWJ icon
44
iShares MSCI Japan ETF
EWJ
$22.5B
$11.9M 0.18%
158,200
+83,971
+113% +$5.97M
LRCX icon
45
Lam Research
LRCX
$385B
$11.7M 0.18%
120,407
+25,314
+27% +$2.01M
PCT icon
46
CALL
PureCycle Technologies
PCT
$1.38B
$11.7M 0.18%
853,400
+612,400
+254% +$5.42M
OKTA icon
47
Okta
OKTA
$25.6B
$11.5M 0.17%
115,245
+66,234
+135% +$7.07M
ED icon
48
Consolidated Edison
ED
$39.9B
$11.3M 0.17%
112,361
+54,009
+93% +$5.72M
EMBJ
49
Embraer S.A. ADS
EMBJ
$13B
$11.3M 0.17%
197,701
-30,158
-13% -$1.42M
VEEV icon
50
Veeva Systems
VEEV
$34.7B
$10.6M 0.16%
36,925
+25,542
+224% +$6.33M
1
2
3 4 5

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Graham Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, Graham Capital Management held 1,697 positions worth $6.62B, up 16% from $5.72B the previous quarter. Its ten largest holdings account for 50% of the portfolio.

Graham Capital Management deployed $1.08B of net new capital in Q2 2025, opening 464 new positions and adding to 345 existing holdings. Its largest new stake was Vanguard Morningstar Value ETF: 110,000 shares worth $19.4M.

By sector, the portfolio is most concentrated in Technology at 5.7% of assets, up from 5.5% a quarter earlier, followed by Financials and Industrials.

On the sell side, the largest reduction was Citigroup, an estimated $16.9M trimmed.

  • Graham Capital Management's largest Q2 2025 buy was Vanguard Morningstar Value ETF: 110,000 shares worth $19.4M.
  • Graham Capital Management added most to iShares Bitcoin Trust in Q2 2025, an estimated $19.3M increase.
  • Graham Capital Management's biggest Q2 2025 reduction was Citigroup, cutting an estimated $16.9M.
  • Graham Capital Management fully exited Pacer Developed Markets International Cash Cows 100 ETF in Q2 2025, selling an estimated $15.6M.
  • Graham Capital Management's ten largest holdings make up 50% of its $6.62B portfolio in Q2 2025.
  • Graham Capital Management opened 464 new positions and closed 433 in Q2 2025.
  • Graham Capital Management's portfolio value rose 16% quarter-over-quarter to $6.62B.

Based on Graham Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.