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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
ICE icon
626
Intercontinental Exchange
ICE
$84.5B
$748K 0.01%
4,337
-38,799
-90% -$6.36M
VIR icon
627
Vir Biotechnology
VIR
$1.5B
$746K 0.01%
115,115
+33,865
+42% +$301K
EEFT icon
628
Euronet Worldwide
EEFT
$2.65B
$746K 0.01%
6,978
+3,993
+134% +$405K
BRY
629
DELISTED
Berry Corp
BRY
$743K 0.01%
231,499
+76,930
+50% +$316K
ADAM
630
Adamas Trust
ADAM
$880M
$736K 0.01%
113,402
+21,633
+24% +$138K
CFFN icon
631
Capitol Federal Financial
CFFN
$1.08B
$735K 0.01%
131,163
+19,885
+18% +$116K
XERS icon
632
Xeris Biopharma Holdings
XERS
$1.46B
$734K 0.01%
133,668
+63,006
+89% +$254K
SAGE
633
DELISTED
Sage Therapeutics
SAGE
$733K 0.01%
92,243
+17,276
+23% +$126K
AWI icon
634
Armstrong World Industries
AWI
$7.75B
$731K 0.01%
5,192
-15,835
-75% -$2.33M
WGO icon
635
Winnebago Industries
WGO
$906M
$724K 0.01%
21,023
+15,852
+307% +$672K
CORZ icon
636
Core Scientific
CORZ
$6.25B
$723K 0.01%
+99,833
New +$1.14M
TNC icon
637
Tennant Co
TNC
$1.18B
$718K 0.01%
9,008
-791
-8% -$66.9K
ROST icon
638
Ross Stores
ROST
$81.7B
$718K 0.01%
5,615
-5,597
-50% -$783K
RXST icon
639
RxSight
RXST
$273M
$717K 0.01%
+28,403
New +$844K
BMI icon
640
Badger Meter
BMI
$3.95B
$711K 0.01%
3,736
+2,145
+135% +$448K
CMRE icon
641
Costamare
CMRE
$1.74B
$710K 0.01%
72,104
+60,803
+538% +$671K
GE icon
642
GE Aerospace
GE
$380B
$706K 0.01%
3,529
-20,260
-85% -$3.99M
PRLB icon
643
Protolabs
PRLB
$2.14B
$706K 0.01%
20,147
+11,520
+134% +$454K
ESPR
644
DELISTED
Esperion Therapeutics
ESPR
$702K 0.01%
487,735
+295,320
+153% +$544K
LKFN icon
645
Lakeland Financial Corp
LKFN
$1.52B
$700K 0.01%
11,776
+7,746
+192% +$508K
KWEB icon
646
CALL
KraneShares CSI China Internet ETF
KWEB
$5.76B
$698K 0.01%
+20,000
New +$663K
ERII icon
647
Energy Recovery
ERII
$408M
$697K 0.01%
43,881
+3,206
+8% +$48.8K
ELME
648
Elme Communities
ELME
$144M
$695K 0.01%
39,951
+19,429
+95% +$313K
IMAX icon
649
IMAX
IMAX
$2.81B
$695K 0.01%
+26,381
New +$658K
EOLS icon
650
Evolus
EOLS
$500M
$694K 0.01%
57,694
+10,731
+23% +$140K
24 25
26
27 28

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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.