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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
PTC icon
651
PTC
PTC
$16.6B
$694K 0.01%
+4,479
New +$770K
QTWO icon
652
Q2 Holdings
QTWO
$3.95B
$692K 0.01%
+8,646
New +$763K
ETD icon
653
Ethan Allen Interiors
ETD
$602M
$689K 0.01%
+24,891
New +$709K
DPZ icon
654
Domino's
DPZ
$11.4B
$689K 0.01%
+1,500
New +$678K
GPN icon
655
Global Payments
GPN
$22.7B
$689K 0.01%
+7,035
New +$736K
ATSG
656
DELISTED
Air Transport Services Group
ATSG
$688K 0.01%
+30,666
New +$682K
DEI icon
657
Douglas Emmett
DEI
$1.93B
$687K 0.01%
42,945
+27,051
+170% +$459K
ADTN icon
658
Adtran
ADTN
$635M
$686K 0.01%
78,652
+21,863
+38% +$220K
SMCI icon
659
Super Micro Computer
SMCI
$20.6B
$685K 0.01%
20,000
+5,000
+33% +$190K
LEU icon
660
Centrus Energy
LEU
$3.79B
$685K 0.01%
11,006
+2,131
+24% +$180K
TDY icon
661
Teledyne Technologies
TDY
$32.2B
$684K 0.01%
+1,375
New +$680K
PAY icon
662
Paymentus
PAY
$4.9B
$683K 0.01%
26,184
+13,395
+105% +$397K
MAX icon
663
MediaAlpha
MAX
$828M
$683K 0.01%
73,945
+9,694
+15% +$104K
TRGP icon
664
Targa Resources
TRGP
$56.8B
$680K 0.01%
+3,393
New +$673K
RNST icon
665
Renasant Corp
RNST
$3.89B
$676K 0.01%
19,922
+2,441
+14% +$88.3K
UBSI icon
666
United Bankshares
UBSI
$6.55B
$676K 0.01%
19,496
-27,687
-59% -$1.01M
BWXT icon
667
BWX Technologies
BWXT
$15.5B
$674K 0.01%
+6,831
New +$741K
GTLS
668
DELISTED
Chart Industries
GTLS
$674K 0.01%
+4,667
New +$859K
BBD icon
669
Banco Bradesco
BBD
$36.3B
$670K 0.01%
300,397
+12,460
+4% +$25.8K
NCLH icon
670
Norwegian Cruise Line
NCLH
$8.55B
$670K 0.01%
35,317
-213,787
-86% -$5.15M
UDMY
671
DELISTED
Udemy
UDMY
$669K 0.01%
86,193
+6,896
+9% +$58.7K
BRBR icon
672
BellRing Brands
BRBR
$1.32B
$661K 0.01%
8,876
+45
+0.5% +$3.31K
CRS icon
673
Carpenter Technology
CRS
$27.9B
$660K 0.01%
3,643
+2,322
+176% +$448K
AGNT
674
AGNT Inc
AGNT
$702M
$658K 0.01%
67,253
+26,381
+65% +$280K
JLL icon
675
Jones Lang LaSalle
JLL
$16.5B
$657K 0.01%
2,649
+967
+57% +$254K
25 26
27
28 29

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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.