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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
+3.72%
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
$3.29B
AUM Growth
+$764M
Cap. Flow
-$274M
Cap. Flow %
-8.32%
Top 10 Hldgs %
41.92%
Holding
1,449
New
408
Increased
282
Reduced
291
Closed
435

Top Buys

Rank Stock Value
1
RGA icon
Reinsurance Group of America
RGA
+$18.3M
2
SMH icon
VanEck Semiconductor ETF
SMH
+$13.7M
3
VNO icon
Vornado Realty Trust
VNO
+$11.3M
4
IYT icon
iShares US Transportation ETF
IYT
+$8.96M
5
GDX icon
VanEck Gold Miners ETF
GDX
+$8.95M

Top Sells

Rank Stock Value
1
ASO icon
Academy Sports + Outdoors
ASO
+$33.7M
2
INDA icon
iShares MSCI India ETF
INDA
+$20.4M
3
NEOG icon
Neogen
NEOG
+$17.9M
4
V icon
Visa
V
+$14.1M
5
AGR
Avangrid, Inc.
AGR
+$11.1M

Sector Composition

Rank Sector Weight
1 Technology 10.16%
2 Industrials 6.11%
3 Financials 5.96%
4 Consumer Discretionary 5.66%
5 Healthcare 4.05%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ESTC icon
76
Elastic
ESTC
$7.81B
$3.78M 0.12%
+73,481
New +$4.4M
NVT icon
77
nVent Electric
NVT
$26.7B
$3.76M 0.11%
97,776
+37,979
+64% +$1.4M
RUN icon
78
Sunrun
RUN
$2.46B
$3.76M 0.11%
156,493
+27,926
+22% +$745K
AMZN icon
79
Amazon
AMZN
$2.96T
$3.76M 0.11%
44,743
+9,741
+28% +$962K
CDNS icon
80
Cadence Design Systems
CDNS
$93.4B
$3.75M 0.11%
+23,373
New +$3.74M
SBH icon
81
Sally Beauty Holdings
SBH
$1.58B
$3.67M 0.11%
+293,299
New +$3.6M
GHC icon
82
Graham Holdings Company
GHC
$5.02B
$3.66M 0.11%
6,057
+5,599
+1,222% +$3.41M
DICE
83
DELISTED
DICE Therapeutics, Inc. Common Stock
DICE
$3.63M 0.11%
116,341
+106,170
+1,044% +$3.46M
RMD icon
84
ResMed
RMD
$30.7B
$3.62M 0.11%
17,408
+13,445
+339% +$2.95M
WNC icon
85
Wabash National
WNC
$527M
$3.62M 0.11%
160,258
+81,140
+103% +$1.76M
VEEV icon
86
Veeva Systems
VEEV
$37.4B
$3.6M 0.11%
22,285
+12,950
+139% +$2.21M
AZO icon
87
AutoZone
AZO
$51.1B
$3.53M 0.11%
1,432
-317
-18% -$766K
AGR
88
DELISTED
Avangrid, Inc.
AGR
$3.53M 0.11%
82,052
-268,073
-77% -$11.1M
ZM icon
89
Zoom
ZM
$30.6B
$3.49M 0.11%
51,525
+6,392
+14% +$486K
FDX icon
90
FedEx
FDX
$75.4B
$3.47M 0.11%
+20,023
New +$3.33M
CRC icon
91
California Resources
CRC
$4.62B
$3.46M 0.11%
+79,572
New +$3.49M
PCOR icon
92
Procore
PCOR
$8.67B
$3.43M 0.1%
72,621
+38,368
+112% +$1.96M
MEDP icon
93
Medpace
MEDP
$16.5B
$3.42M 0.1%
16,089
+3,069
+24% +$613K
XIFR
94
XPLR Infrastructure LP
XIFR
$1.08B
$3.39M 0.1%
+48,320
New +$3.62M
XLE icon
95
State Street Energy Select Sector SPDR ETF
XLE
$37.7B
$3.36M 0.1%
76,800
-10,600
-12% -$461K
FDS icon
96
Factset
FDS
$10.2B
$3.36M 0.1%
8,368
+3,162
+61% +$1.35M
MCHP icon
97
Microchip Technology
MCHP
$46B
$3.33M 0.1%
47,428
+9,516
+25% +$655K
PI icon
98
Impinj
PI
$5.6B
$3.33M 0.1%
+30,492
New +$3.21M
XBI icon
99
State Street SPDR S&P Biotech ETF
XBI
$10.3B
$3.32M 0.1%
40,000
– –
PLAB icon
100
Photronics
PLAB
$1.93B
$3.31M 0.1%
196,864
+129,674
+193% +$2.21M
2 3
4
5 6

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BOK
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ZP
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AP
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MGP
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Graham Capital Management's Q4 2022 Portfolio in Review

As of Q4 2022, Graham Capital Management held 1,449 positions worth $3.29B, up 30% from $2.53B the previous quarter. Its ten largest holdings account for 42% of the portfolio.

Graham Capital Management withdrew a net $274M in Q4 2022, closing 435 positions and reducing 291 holdings. Its most notable exit was iShares MSCI India ETF, an estimated $20.4M position sold in full.

By sector, the portfolio is most concentrated in Technology at 10% of assets, down from 10% a quarter earlier, followed by Industrials and Financials.

Against the trend, Graham Capital Management opened a new position in VanEck Semiconductor ETF worth $13.7M.

  • Graham Capital Management's largest Q4 2022 buy was VanEck Semiconductor ETF: 135,000 shares worth $13.7M.
  • Graham Capital Management added most to Reinsurance Group of America in Q4 2022, an estimated $18.3M increase.
  • Graham Capital Management's biggest Q4 2022 reduction was Academy Sports + Outdoors, cutting an estimated $33.7M.
  • Graham Capital Management fully exited iShares MSCI India ETF in Q4 2022, selling an estimated $20.4M.
  • Graham Capital Management's ten largest holdings make up 42% of its $3.29B portfolio in Q4 2022.
  • Graham Capital Management opened 408 new positions and closed 435 in Q4 2022.
  • Graham Capital Management's portfolio value rose 30% quarter-over-quarter to $3.29B.

Based on Graham Capital Management's 13F filing for Q4 2022, filed 14 Feb 2023.