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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
CNTA
1101
DELISTED
Centessa Pharmaceuticals
CNTA
$210K ﹤0.01%
+14,617
New +$239K
NUVB icon
1102
Nuvation Bio
NUVB
$2.29B
$210K ﹤0.01%
+119,249
New +$271K
IRON icon
1103
Disc Medicine
IRON
$2.98B
$209K ﹤0.01%
+4,217
New +$234K
VVX icon
1104
V2X
VVX
$2.63B
$207K ﹤0.01%
+4,220
New +$207K
XMTR icon
1105
Xometry
XMTR
$5.24B
$206K ﹤0.01%
+8,286
New +$260K
PRAX icon
1106
Praxis Precision Medicines
PRAX
$10.1B
$206K ﹤0.01%
5,449
+2,727
+100% +$170K
EVR icon
1107
Evercore
EVR
$11.4B
$206K ﹤0.01%
+1,033
New +$257K
GPCR icon
1108
Structure Therapeutics
GPCR
$3.75B
$206K ﹤0.01%
+11,908
New +$292K
TECK icon
1109
Teck Resources
TECK
$33.1B
$206K ﹤0.01%
+5,651
New +$234K
PSNL icon
1110
Personalis
PSNL
$1.56B
$204K ﹤0.01%
+58,083
New +$276K
MSFT icon
1111
Microsoft
MSFT
$3.77T
$203K ﹤0.01%
541
-8,560
-94% -$3.49M
CTSH icon
1112
Cognizant
CTSH
$26.3B
$203K ﹤0.01%
2,654
-22,060
-89% -$1.8M
PKG icon
1113
Packaging Corp of America
PKG
$22.7B
$203K ﹤0.01%
+1,025
New +$219K
TRUP icon
1114
Trupanion
TRUP
$1.25B
$202K ﹤0.01%
5,431
-1,934
-26% -$80.4K
DHI icon
1115
D.R. Horton
DHI
$41B
$202K ﹤0.01%
1,588
-2,312
-59% -$310K
ES icon
1116
Eversource Energy
ES
$26.9B
$200K ﹤0.01%
+3,227
New +$193K
RF icon
1117
Regions Financial
RF
$26.6B
$200K ﹤0.01%
+9,204
New +$214K
ZNTL icon
1118
Zentalis Pharmaceuticals
ZNTL
$292M
$198K ﹤0.01%
124,801
+66,855
+115% +$144K
HYLN icon
1119
Hyliion Holdings
HYLN
$695M
$198K ﹤0.01%
141,370
+101,552
+255% +$201K
ONL
1120
Orion Office REIT
ONL
$156M
$198K ﹤0.01%
92,302
+46,356
+101% +$162K
WNC icon
1121
Wabash National
WNC
$514M
$195K ﹤0.01%
+17,668
New +$237K
PLBY icon
1122
Playboy Inc
PLBY
$136M
$194K ﹤0.01%
+175,940
New +$275K
SBH icon
1123
Sally Beauty Holdings
SBH
$1.53B
$193K ﹤0.01%
21,333
-2,947
-12% -$29K
IHRT icon
1124
iHeartMedia
IHRT
$555M
$193K ﹤0.01%
116,738
+39,201
+51% +$78.9K
QVCGA
1125
DELISTED
QVC Group Inc Series A
QVCGA
$191K ﹤0.01%
19,030
+6,988
+58% +$111K
43 44
45
46 47

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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.