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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
QNST icon
701
QuinStreet
QNST
$1.26B
$622K 0.01%
34,893
+19,679
+129% +$413K
FLEX icon
702
Flex
FLEX
$44.2B
$622K 0.01%
18,802
+8,802
+88% +$345K
CHRW icon
703
C.H. Robinson
CHRW
$17.3B
$616K 0.01%
+6,016
New +$608K
APLS
704
DELISTED
Apellis Pharmaceuticals
APLS
$615K 0.01%
+28,136
New +$777K
AVO icon
705
Mission Produce
AVO
$1.16B
$615K 0.01%
58,691
+27,996
+91% +$326K
PRVA icon
706
Privia Health
PRVA
$2.86B
$612K 0.01%
27,264
-10,639
-28% -$247K
WDS icon
707
Woodside Energy
WDS
$43.9B
$612K 0.01%
+42,214
New +$642K
SBUX icon
708
Starbucks
SBUX
$119B
$609K 0.01%
+6,213
New +$642K
LMAT icon
709
LeMaitre Vascular
LMAT
$1.86B
$608K 0.01%
7,247
+1,757
+32% +$163K
KALU icon
710
Kaiser Aluminum
KALU
$3.06B
$602K 0.01%
9,930
+2,795
+39% +$196K
TER icon
711
Teradyne
TER
$57.1B
$602K 0.01%
7,285
+4,547
+166% +$509K
GERN icon
712
Geron
GERN
$949M
$599K 0.01%
+376,760
New +$917K
MEI icon
713
Methode Electronics
MEI
$581M
$598K 0.01%
93,779
+44,100
+89% +$435K
ARDT
714
Ardent Health
ARDT
$1.59B
$598K 0.01%
+43,498
New +$635K
E icon
715
ENI
E
$79.4B
$597K 0.01%
19,315
-14,382
-43% -$420K
PRG icon
716
PROG Holdings
PRG
$1.68B
$594K 0.01%
22,346
+6,639
+42% +$235K
CVX icon
717
Chevron
CVX
$382B
$594K 0.01%
+3,552
New +$556K
XOP icon
718
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$3.62B
$593K 0.01%
+4,500
New +$604K
ARQT icon
719
Arcutis Biotherapeutics
ARQT
$3.26B
$588K 0.01%
37,617
+10,780
+40% +$152K
TRTX
720
TPG RE Finance Trust
TRTX
$608M
$588K 0.01%
72,140
-12,446
-15% -$105K
ARES icon
721
Ares Management
ARES
$31B
$587K 0.01%
4,002
+1,288
+47% +$223K
DNLI icon
722
Denali Therapeutics
DNLI
$4B
$585K 0.01%
43,005
+22,299
+108% +$427K
UVE icon
723
Universal Insurance Holdings
UVE
$1.21B
$584K 0.01%
24,656
+653
+3% +$13.5K
INTA icon
724
Intapp
INTA
$2.99B
$584K 0.01%
10,000
-827
-8% -$54.5K
FIP icon
725
FTAI Infrastructure
FIP
$508M
$580K 0.01%
128,135
+62,555
+95% +$391K
27 28
29
30 31

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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.