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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
DMRC icon
926
Digimarc Corp
DMRC
$168M
$344K 0.01%
26,862
+19,990
+291% +$572K
HBNC icon
927
Horizon Bancorp
HBNC
$1.03B
$344K 0.01%
22,821
+4,830
+27% +$78.4K
MAR icon
928
Marriott International
MAR
$90.9B
$344K 0.01%
1,444
-14,456
-91% -$3.93M
TOL icon
929
Toll Brothers
TOL
$14B
$340K 0.01%
3,223
-57,806
-95% -$6.94M
HOUS
930
DELISTED
Anywhere Real Estate
HOUS
$339K 0.01%
101,852
+9,451
+10% +$33.5K
DEO icon
931
Diageo
DEO
$54B
$338K 0.01%
+3,227
New +$365K
TTD icon
932
Trade Desk
TTD
$6.29B
$336K 0.01%
6,145
+360
+6% +$32.6K
MEDP icon
933
Medpace
MEDP
$16.8B
$335K 0.01%
1,100
-132
-11% -$44.4K
CLS icon
934
Celestica
CLS
$36.2B
$334K 0.01%
+4,237
New +$450K
TARS icon
935
Tarsus Pharmaceuticals
TARS
$2.97B
$334K 0.01%
+6,500
New +$321K
FFBC icon
936
First Financial Bancorp
FFBC
$3.53B
$333K 0.01%
+13,312
New +$356K
ABM icon
937
ABM Industries
ABM
$2.81B
$332K 0.01%
7,012
-277
-4% -$14.2K
UTHR icon
938
United Therapeutics
UTHR
$22.7B
$332K 0.01%
+1,077
New +$369K
CLNE icon
939
Clean Energy Fuels
CLNE
$355M
$331K 0.01%
213,424
+142,930
+203% +$363K
GOOD
940
Gladstone Commercial Corp
GOOD
$618M
$331K 0.01%
22,066
+9,476
+75% +$149K
CTKB icon
941
Cytek Biosciences
CTKB
$606M
$330K 0.01%
82,286
+54,868
+200% +$284K
FSM icon
942
Fortuna Silver Mines
FSM
$3.18B
$328K 0.01%
53,759
-15,739
-23% -$78.2K
CB icon
943
Chubb
CB
$134B
$327K 0.01%
+1,083
New +$301K
INGN icon
944
Inogen
INGN
$163M
$326K 0.01%
45,748
+30,748
+205% +$290K
PRI icon
945
Primerica
PRI
$9.65B
$326K 0.01%
1,144
-4,540
-80% -$1.29M
NGVC icon
946
Vitamin Cottage Natural Grocers
NGVC
$605M
$324K 0.01%
+8,055
New +$337K
NCMI icon
947
National CineMedia
NCMI
$370M
$324K 0.01%
+55,417
New +$355K
OMER icon
948
Omeros
OMER
$986M
$323K 0.01%
+39,327
New +$347K
ARDX icon
949
Ardelyx
ARDX
$997M
$323K 0.01%
65,823
-4,122
-6% -$22.1K
BRCC icon
950
BRC Inc
BRCC
$216M
$322K 0.01%
154,291
-4,524
-3% -$11.5K
36 37
38
39 40

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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.