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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
+4.11%
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
$6.66B
AUM Growth
+$848M
Cap. Flow
-$1.13B
Cap. Flow %
-16.93%
Top 10 Hldgs %
57.62%
Holding
1,535
New
470
Increased
412
Reduced
291
Closed
336

Top Buys

Rank Stock Value
1
MSTR icon
Strategy Inc
MSTR
+$35.5M
2
PEP icon
PepsiCo
PEP
+$19.5M
3
JNJ icon
Johnson & Johnson
JNJ
+$17.3M
4
AMZN icon
Amazon
AMZN
+$15.8M
5
SPGI icon
S&P Global
SPGI
+$14.3M

Top Sells

Rank Stock Value
1
IBIT icon
iShares Bitcoin Trust
IBIT
+$69.8M
2
GDX icon
VanEck Gold Miners ETF
GDX
+$21.3M
3
MSFT icon
Microsoft
MSFT
+$21.2M
4
WMT icon
Walmart Inc
WMT
+$17.1M
5
C icon
Citigroup
C
+$16.2M

Sector Composition

Rank Sector Weight
1 Technology 5.84%
2 Industrials 4.12%
3 Financials 3.46%
4 Consumer Discretionary 3.25%
5 Healthcare 2.26%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GDXJ icon
51
CALL
VanEck Junior Gold Miners ETF
GDXJ
$8.46B
$8.55M 0.13%
200,000
-1,140,000
-85% -$55.2M
SCHW
52
Charles Schwab
SCHW
$187B
$8.32M 0.13%
112,376
+80,112
+248% +$5.99M
CNQ icon
53
Canadian Natural Resources
CNQ
$93.8B
$8.22M 0.12%
266,118
+109,916
+70% +$3.7M
TXRH icon
54
Texas Roadhouse
TXRH
$13.7B
$7.86M 0.12%
43,582
+330
+0.8% +$62.1K
CEG icon
55
Constellation Energy
CEG
$95.6B
$7.77M 0.12%
34,740
+18,875
+119% +$4.71M
EQH icon
56
Equitable Holdings
EQH
$14.1B
$7.73M 0.12%
163,951
-5,259
-3% -$243K
TOL icon
57
Toll Brothers
TOL
$14.5B
$7.69M 0.12%
61,029
+36,708
+151% +$5.45M
GDX icon
58
CALL
VanEck Gold Miners ETF
GDX
$27.4B
$7.63M 0.11%
225,000
-110,000
-33% -$4.22M
ETHA
59
iShares Ethereum Trust ETF
ETHA
$5.55B
$7.59M 0.11%
300,000
– –
WMT icon
60
Walmart Inc
WMT
$890B
$7.57M 0.11%
83,748
-197,199
-70% -$17.1M
NOC icon
61
Northrop Grumman
NOC
$81.2B
$7.35M 0.11%
15,665
-8,139
-34% -$4.09M
SFM icon
62
Sprouts Farmers Market
SFM
$8.01B
$7.25M 0.11%
57,072
+40,159
+237% +$5.34M
CRH icon
63
CRH
CRH
$66.8B
$7.21M 0.11%
77,937
+39,389
+102% +$3.79M
PG icon
64
Procter & Gamble
PG
$339B
$6.88M 0.1%
41,015
+18,011
+78% +$3.07M
BTU icon
65
PUT
Peabody Energy
BTU
$2.9B
$6.85M 0.1%
327,100
– –
BP icon
66
BP
BP
$107B
$6.76M 0.1%
228,698
+190,929
+506% +$5.74M
FOUR icon
67
Shift4
FOUR
$3.26B
$6.66M 0.1%
64,215
-30,300
-32% -$3.01M
GLW icon
68
Corning
GLW
$143B
$6.57M 0.1%
+138,263
New +$6.55M
ICE icon
69
Intercontinental Exchange
ICE
$84.4B
$6.43M 0.1%
43,136
+32,042
+289% +$5.08M
NCLH icon
70
Norwegian Cruise Line
NCLH
$8.84B
$6.41M 0.1%
249,104
+151,705
+156% +$3.83M
PLUG icon
71
PUT
Plug Power
PLUG
$3.04B
$6.35M 0.1%
2,980,700
+414,700
+16% +$905K
NWSA icon
72
News Corp Class A
NWSA
$15.4B
$6.26M 0.09%
227,307
-33,109
-13% -$922K
STT icon
73
State Street
STT
$50.7B
$6.21M 0.09%
63,314
+57,954
+1,081% +$5.49M
CSCO icon
74
Cisco
CSCO
$479B
$6.21M 0.09%
+104,870
New +$5.99M
VICI icon
75
VICI Properties
VICI
$29.4B
$6.17M 0.09%
+211,244
New +$6.68M
1 2
3
4 5

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Graham Capital Management's Q4 2024 Portfolio in Review

As of Q4 2024, Graham Capital Management held 1,535 positions worth $6.66B, up 15% from $5.81B the previous quarter. Its ten largest holdings account for 58% of the portfolio.

Graham Capital Management withdrew a net $1.13B in Q4 2024, closing 336 positions and reducing 291 holdings. Its most notable exit was VanEck Gold Miners ETF, an estimated $21.3M position sold in full.

By sector, the portfolio is most concentrated in Technology at 5.8% of assets, up from 5.7% a quarter earlier, followed by Industrials and Financials.

Against the trend, Graham Capital Management opened a new position in Strategy Inc worth $34.1M.

  • Graham Capital Management's largest Q4 2024 buy was Strategy Inc: 117,912 shares worth $34.1M.
  • Graham Capital Management added most to Amazon in Q4 2024, an estimated $15.8M increase.
  • Graham Capital Management's biggest Q4 2024 reduction was iShares Bitcoin Trust, cutting an estimated $69.8M.
  • Graham Capital Management fully exited VanEck Gold Miners ETF in Q4 2024, selling an estimated $21.3M.
  • Graham Capital Management's ten largest holdings make up 58% of its $6.66B portfolio in Q4 2024.
  • Graham Capital Management opened 470 new positions and closed 336 in Q4 2024.
  • Graham Capital Management's portfolio value rose 15% quarter-over-quarter to $6.66B.

Based on Graham Capital Management's 13F filing for Q4 2024, filed 14 Feb 2025.