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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
-2.99%
1 Year Est. Return
+17.82%
3 Year Est. Return
+41.13%
5 Year Est. Return
+43.39%
10 Year Est. Return
+274.46%
AUM
$5.72B
AUM Growth
-$941M
Cap. Flow
-$1.63B
Cap. Flow %
-28.57%
Top 10 Hldgs %
49.29%
Holding
1,579
New
380
Increased
586
Reduced
258
Closed
326

Top Buys

Rank Stock Value
1
XLU icon
State Street Utilities Select Sector SPDR ETF
XLU
+$22M
2
MA icon
Mastercard
MA
+$16.9M
3
C icon
Citigroup
C
+$16.6M
4
ICOW icon
Pacer Developed Markets International Cash Cows 100 ETF
ICOW
+$15.3M
5
MELI icon
Mercado Libre
MELI
+$13.2M

Top Sells

Rank Stock Value
1
MSTR icon
Strategy Inc
MSTR
+$37.4M
2
HPE icon
Hewlett Packard
HPE
+$18.5M
3
PEP icon
PepsiCo
PEP
+$18.1M
4
TIP icon
iShares TIPS Bond ETF
TIP
+$15.7M
5
SO icon
Southern Company
SO
+$15M

Sector Composition

Rank Sector Weight
1 Financials 5.71%
2 Technology 5.51%
3 Industrials 4.33%
4 Consumer Discretionary 4.17%
5 Healthcare 3.18%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AFRM icon
501
Affirm
AFRM
$25.2B
$1.09M 0.02%
+24,190
New +$1.43M
NAVI icon
502
Navient
NAVI
$853M
$1.09M 0.02%
86,335
-21,864
-20% -$299K
VIK icon
503
Viking Holdings
VIK
$47.2B
$1.09M 0.02%
27,373
-88,243
-76% -$4.07M
VRE
504
DELISTED
Veris Residential
VRE
$1.09M 0.02%
64,300
+4,314
+7% +$69.7K
PRM icon
505
Perimeter Solutions
PRM
$5.77B
$1.09M 0.02%
107,854
+39,245
+57% +$440K
PLGO
506
Pelagos Insurance Capital
PLGO
$2.14B
$1.08M 0.02%
66,886
+55,158
+470% +$882K
KMT icon
507
Kennametal
KMT
$2.52B
$1.08M 0.02%
+50,862
New +$1.15M
EW icon
508
Edwards Lifesciences
EW
$51.7B
$1.08M 0.02%
+14,933
New +$1.07M
XPRO icon
509
Expro Ltd
XPRO
$1.91B
$1.07M 0.02%
107,812
-21,864
-17% -$270K
ASPN icon
510
Aspen Aerogels
ASPN
$518M
$1.07M 0.02%
166,959
+35,484
+27% +$342K
VREX icon
511
Varex Imaging
VREX
$523M
$1.06M 0.02%
+91,665
New +$1.21M
VBTX
512
DELISTED
Veritex Holdings
VBTX
$1.06M 0.02%
42,438
+25,068
+144% +$646K
NWG icon
513
NatWest
NWG
$76.4B
$1.05M 0.02%
+88,300
New +$990K
ZGN icon
514
Zegna
ZGN
$4B
$1.05M 0.02%
142,049
+117,589
+481% +$970K
BAH icon
515
Booz Allen Hamilton
BAH
$9.15B
$1.04M 0.02%
9,975
+4,977
+100% +$600K
ETSY icon
516
Etsy
ETSY
$7.85B
$1.04M 0.02%
+21,992
New +$1.13M
APPN icon
517
Appian
APPN
$2.48B
$1.03M 0.02%
35,781
+8,935
+33% +$292K
ILMN icon
518
Illumina
ILMN
$28.4B
$1.03M 0.02%
+12,927
New +$1.4M
AXON
519
Axon Enterprise
AXON
$46.4B
$1.02M 0.02%
1,948
-391
-17% -$229K
TRN icon
520
Trinity Industries
TRN
$2.38B
$1.02M 0.02%
36,452
+8,787
+32% +$295K
SYY icon
521
Sysco
SYY
$40.3B
$1.02M 0.02%
+13,615
New +$998K
BCRX icon
522
BioCryst Pharmaceuticals
BCRX
$2.4B
$1.02M 0.02%
136,103
+38,846
+40% +$313K
PGNY icon
523
Progyny
PGNY
$2.2B
$1.02M 0.02%
+45,664
New +$983K
FICO icon
524
Fair Isaac
FICO
$22.5B
$1.02M 0.02%
553
+266
+93% +$493K
PBI icon
525
Pitney Bowes
PBI
$2.39B
$1.02M 0.02%
112,411
+34,921
+45% +$316K
19 20
21
22 23

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Graham Capital Management's Q1 2025 Portfolio in Review

As of Q1 2025, Graham Capital Management held 1,579 positions worth $5.72B, down 14% from $6.66B the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Graham Capital Management withdrew a net $1.63B in Q1 2025, closing 326 positions and reducing 258 holdings. Its most notable exit was Strategy Inc, an estimated $37.4M position sold in full.

By sector, the portfolio is most concentrated in Financials at 5.7% of assets, up from 3.5% a quarter earlier, followed by Technology and Industrials.

Against the trend, Graham Capital Management opened a new position in Mastercard worth $17M.

  • Graham Capital Management's largest Q1 2025 buy was Mastercard: 31,082 shares worth $17M.
  • Graham Capital Management added most to State Street Utilities Select Sector SPDR ETF in Q1 2025, an estimated $22M increase.
  • Graham Capital Management's biggest Q1 2025 reduction was Netflix, cutting an estimated $13.5M.
  • Graham Capital Management fully exited Strategy Inc in Q1 2025, selling an estimated $37.4M.
  • Graham Capital Management's ten largest holdings make up 49% of its $5.72B portfolio in Q1 2025.
  • Graham Capital Management opened 380 new positions and closed 326 in Q1 2025.
  • Graham Capital Management's portfolio value fell 14% quarter-over-quarter to $5.72B.

Based on Graham Capital Management's 13F filing for Q1 2025, filed 15 May 2025.