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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
+8.47%
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
$6.62B
AUM Growth
+$902M
Cap. Flow
+$1.08B
Cap. Flow %
16.3%
Top 10 Hldgs %
50.26%
Holding
1,697
New
464
Increased
345
Reduced
451
Closed
433

Top Buys

Rank Stock Value
1
IBIT icon
iShares Bitcoin Trust
IBIT
+$19.3M
2
VTV icon
Vanguard Morningstar Value ETF
VTV
+$18.6M
3
ICE icon
Intercontinental Exchange
ICE
+$14.5M
4
EEM icon
iShares MSCI Emerging Markets ETF
EEM
+$14.3M
5
MNST icon
Monster Beverage
MNST
+$13.3M

Top Sells

Rank Stock Value
1
C icon
Citigroup
C
+$16.9M
2
JNJ icon
Johnson & Johnson
JNJ
+$16M
3
ICOW icon
Pacer Developed Markets International Cash Cows 100 ETF
ICOW
+$15.6M
4
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$14.5M
5
VUG icon
Vanguard Morningstar Growth ETF
VUG
+$10.8M

Sector Composition

Rank Sector Weight
1 Technology 5.74%
2 Financials 5.16%
3 Industrials 4.35%
4 Consumer Discretionary 3.72%
5 Healthcare 3.09%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VCYT icon
826
Veracyte
VCYT
$3.8B
$478K 0.01%
17,686
-10,677
-38% -$309K
BFLY icon
827
Butterfly Network
BFLY
$2.35B
$478K 0.01%
238,790
+106,563
+81% +$245K
PBR.A icon
828
Petrobras Class A
PBR.A
$103B
$473K 0.01%
+40,988
New +$457K
NET icon
829
Cloudflare
NET
$107B
$472K 0.01%
+2,410
New +$350K
K
830
DELISTED
Kellanova
K
$471K 0.01%
+5,926
New +$484K
KVYO icon
831
Klaviyo
KVYO
$4.73B
$470K 0.01%
+14,002
New +$444K
SEM
832
DELISTED
Select Medical
SEM
$469K 0.01%
+30,892
New +$482K
LILAK icon
833
Liberty Latin America Class C
LILAK
$1.64B
$466K 0.01%
82,463
-4,149
-5% -$20.3K
FBRT
834
Franklin BSP Realty Trust
FBRT
$657M
$466K 0.01%
+43,594
New +$490K
SPHR icon
835
Sphere Entertainment
SPHR
$5.73B
$466K 0.01%
11,144
-57,022
-84% -$1.93M
AMPH icon
836
Amphastar Pharmaceuticals
AMPH
$916M
$466K 0.01%
20,288
-6,136
-23% -$152K
CWEN.A
837
DELISTED
Clearway Energy Class A
CWEN.A
$465K 0.01%
+15,377
New +$431K
SNY icon
838
Sanofi
SNY
$104B
$465K 0.01%
+9,622
New +$492K
TTC icon
839
Toro Company
TTC
$9.49B
$463K 0.01%
+6,557
New +$465K
JELD icon
840
JELD-WEN Holding
JELD
$164M
$462K 0.01%
+117,979
New +$526K
IMCR icon
841
Immunocore
IMCR
$1.73B
$461K 0.01%
+14,696
New +$457K
PNTG icon
842
Pennant Group
PNTG
$1.36B
$459K 0.01%
15,390
-16,647
-52% -$457K
EVRI
843
DELISTED
Everi Holdings
EVRI
$458K 0.01%
+32,155
New +$450K
AXSM icon
844
Axsome Therapeutics
AXSM
$10.9B
$458K 0.01%
+4,384
New +$464K
DLB icon
845
Dolby
DLB
$5.79B
$456K 0.01%
6,138
+1,648
+37% +$123K
EXPO icon
846
Exponent
EXPO
$3.24B
$456K 0.01%
+6,101
New +$473K
UHS icon
847
Universal Health Services
UHS
$10.5B
$456K 0.01%
2,515
+1,300
+107% +$235K
SSYS icon
848
Stratasys
SSYS
$774M
$454K 0.01%
39,579
+15,213
+62% +$154K
MWA icon
849
Mueller Water Products
MWA
$4.16B
$453K 0.01%
+18,833
New +$466K
MAX icon
850
MediaAlpha
MAX
$821M
$451K 0.01%
41,164
-32,781
-44% -$316K
32 33
34
35 36

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Graham Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, Graham Capital Management held 1,697 positions worth $6.62B, up 16% from $5.72B the previous quarter. Its ten largest holdings account for 50% of the portfolio.

Graham Capital Management deployed $1.08B of net new capital in Q2 2025, opening 464 new positions and adding to 345 existing holdings. Its largest new stake was Vanguard Morningstar Value ETF: 110,000 shares worth $19.4M.

By sector, the portfolio is most concentrated in Technology at 5.7% of assets, up from 5.5% a quarter earlier, followed by Financials and Industrials.

On the sell side, the largest reduction was Citigroup, an estimated $16.9M trimmed.

  • Graham Capital Management's largest Q2 2025 buy was Vanguard Morningstar Value ETF: 110,000 shares worth $19.4M.
  • Graham Capital Management added most to iShares Bitcoin Trust in Q2 2025, an estimated $19.3M increase.
  • Graham Capital Management's biggest Q2 2025 reduction was Citigroup, cutting an estimated $16.9M.
  • Graham Capital Management fully exited Pacer Developed Markets International Cash Cows 100 ETF in Q2 2025, selling an estimated $15.6M.
  • Graham Capital Management's ten largest holdings make up 50% of its $6.62B portfolio in Q2 2025.
  • Graham Capital Management opened 464 new positions and closed 433 in Q2 2025.
  • Graham Capital Management's portfolio value rose 16% quarter-over-quarter to $6.62B.

Based on Graham Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.