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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
-2.73%
1 Year Est. Return
+17.82%
3 Year Est. Return
+41.13%
5 Year Est. Return
+43.39%
10 Year Est. Return
+148.36%
AUM
$2.27B
AUM Growth
-$2.54B
Cap. Flow
-$3.12B
Cap. Flow %
-137.36%
Top 10 Hldgs %
80.99%
Holding
130
New
23
Increased
5
Reduced
5
Closed
65

Top Buys

Rank Stock Value
1
XLE icon
State Street Energy Select Sector SPDR ETF
XLE
+$33M
2
BABA icon
Alibaba
BABA
+$29.4M
3
MSFT icon
Microsoft
MSFT
+$18M
4
BAC icon
Bank of America
BAC
+$13.3M
5
AMR icon
Alpha Metallurgical Resources
AMR
+$9.67M

Top Sells

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$1.58B
2
GLD icon
SPDR Gold Trust
GLD
+$1.16B
3
QQQ icon
Invesco QQQ Trust
QQQ
+$259M
4
EWZ icon
iShares MSCI Brazil ETF
EWZ
+$213M
5
IWM icon
iShares Russell 2000 ETF
IWM
+$138M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 1.33%
2 Financials 0.9%
3 Technology 0.9%
4 Materials 0.42%
5 Industrials 0.1%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPOT icon
76
Spotify
SPOT
$101B
– –
-19,333
Closed -$3.5M
SPY icon
77
State Street SPDR S&P 500 ETF Trust
SPY
$820B
– –
-5,450,000
Closed -$1.58B
STZ icon
78
Constellation Brands
STZ
$22.3B
– –
-16,259
Closed -$3.5M
T icon
79
AT&T
T
$157B
– –
-207,920
Closed -$5.27M
TDG icon
80
TransDigm Group
TDG
$69.6B
– –
-9,675
Closed -$3.6M
TECK icon
81
Teck Resources
TECK
$32.4B
– –
-115,000
Closed -$2.77M
TMUS icon
82
T-Mobile US
TMUS
$186B
– –
-52,133
Closed -$3.66M
TTWO icon
83
Take-Two Interactive
TTWO
$44.2B
– –
-26,447
Closed -$3.65M
UAA icon
84
Under Armour
UAA
$2.91B
– –
-155,421
Closed -$3.3M
V icon
85
Visa
V
$686B
– –
-23,840
Closed -$3.58M
WFC icon
86
Wells Fargo
WFC
$269B
– –
-59,652
Closed -$3.13M
XLV icon
87
State Street Health Care Select Sector SPDR ETF
XLV
$42.1B
– –
-175,013
Closed -$16.7M
XLY icon
88
State Street Consumer Discretionary Select Sector SPDR ETF
XLY
$23B
– –
-468,896
Closed -$27.5M
XPO icon
89
XPO
XPO
$23.6B
– –
-91,406
Closed -$3.61M
PXD
90
DELISTED
Pioneer Natural Resource Co.
PXD
– –
-5,000
Closed -$870K
GLIBA
91
DELISTED
GCI Liberty, Inc. Class A Common Stock (DE)
GLIBA
– –
-71,088
Closed -$3.63M
AKRX
92
DELISTED
Akorn Inc
AKRX
– –
-112,483
Closed -$1.46M
AGN
93
DELISTED
Allergan plc
AGN
– –
-18,084
Closed -$3.44M
ZAYO
94
DELISTED
Zayo Group Holdings, Inc.
ZAYO
– –
-100,204
Closed -$3.48M
WP
95
DELISTED
Worldpay, Inc.
WP
– –
-35,539
Closed -$3.6M
TFCFA
96
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
– –
-899,790
Closed -$41.7M
ESRX
97
DELISTED
Express Scripts Holding Company
ESRX
– –
-37,859
Closed -$3.6M
AET
98
DELISTED
Aetna Inc
AET
– –
-16,992
Closed -$3.45M
COL
99
DELISTED
Rockwell Collins
COL
– –
-24,850
Closed -$3.49M
CZR
100
DELISTED
Caesars Entertainment Corporation
CZR
– –
-342,790
Closed -$3.51M
1 2 3
4

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BOK
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ZP
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AP
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BHC
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Graham Capital Management's Q4 2018 Portfolio in Review

As of Q4 2018, Graham Capital Management held 130 positions worth $2.27B, down 53% from $4.81B the previous quarter. Its ten largest holdings account for 81% of the portfolio.

Graham Capital Management withdrew a net $3.12B in Q4 2018, closing 65 positions and reducing 5 holdings. Its most notable exit was State Street SPDR S&P 500 ETF Trust, an estimated $1.58B position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 1.3% of assets, up from 0.55% a quarter earlier, followed by Financials and Technology.

Against the trend, Graham Capital Management opened a new position in Alpha Metallurgical Resources worth $9.5M.

  • Graham Capital Management's largest Q4 2018 buy was Alpha Metallurgical Resources: 144,584 shares worth $9.5M.
  • Graham Capital Management added most to State Street Energy Select Sector SPDR ETF in Q4 2018, an estimated $33M increase.
  • Graham Capital Management's biggest Q4 2018 reduction was iShares MSCI Brazil ETF, cutting an estimated $213M.
  • Graham Capital Management fully exited State Street SPDR S&P 500 ETF Trust in Q4 2018, selling an estimated $1.58B.
  • Graham Capital Management's ten largest holdings make up 81% of its $2.27B portfolio in Q4 2018.
  • Graham Capital Management opened 23 new positions and closed 65 in Q4 2018.
  • Graham Capital Management's portfolio value fell 53% quarter-over-quarter to $2.27B.

Based on Graham Capital Management's 13F filing for Q4 2018, filed 14 Feb 2019.