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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
HCKT icon
1126
Hackett Group
HCKT
$287M
– –
-37,102
Closed -$657K
HD icon
1127
Home Depot
HD
$355B
– –
-4,611
Closed -$1.27M
HE icon
1128
Hawaiian Electric Industries
HE
$2.14B
– –
-17,554
Closed -$608K
HIG icon
1129
Hartford Financial Services
HIG
$39.3B
– –
-7,941
Closed -$491K
HIW icon
1130
Highwoods Properties
HIW
$3.47B
– –
-22,892
Closed -$617K
HLIO icon
1131
Helios Technologies
HLIO
$2.76B
– –
-5,031
Closed -$254K
HLI icon
1132
Houlihan Lokey
HLI
$9.02B
– –
-9,845
Closed -$742K
MCHB
1133
Mechanics Bancorp
MCHB
$3.68B
– –
-8,818
Closed -$254K
HRB icon
1134
H&R Block
HRB
$5.86B
– –
-28,733
Closed -$1.22M
HRTX icon
1135
Heron Therapeutics
HRTX
$92.9M
– –
-890,650
Closed -$3.76M
HST icon
1136
Host Hotels & Resorts
HST
$16B
– –
-112,483
Closed -$1.79M
HXL icon
1137
Hexcel
HXL
$7.82B
– –
-34,772
Closed -$1.8M
HYG icon
1138
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.9B
– –
-5,600
Closed -$399K
HZO icon
1139
MarineMax
HZO
$788M
– –
-15,991
Closed -$476K
IART icon
1140
Integra LifeSciences
IART
$1.34B
– –
-8,184
Closed -$346K
IDCC icon
1141
InterDigital
IDCC
$8.89B
– –
-5,244
Closed -$211K
INDA icon
1142
iShares MSCI India ETF
INDA
$6.63B
– –
-500,000
Closed -$20.4M
INO icon
1143
Inovio Pharmaceuticals
INO
$69M
– –
-4,778
Closed -$98K
INSM icon
1144
Insmed
INSM
$28.6B
– –
-93,440
Closed -$2.01M
IONS icon
1145
Ionis Pharmaceuticals
IONS
$9.4B
– –
-53,717
Closed -$2.38M
IOVA icon
1146
Iovance Biotherapeutics
IOVA
$2.87B
– –
-255,405
Closed -$2.45M
IRT icon
1147
Independence Realty Trust
IRT
$4.07B
– –
-22,930
Closed -$383K
IRWD icon
1148
Ironwood Pharmaceuticals
IRWD
$714M
– –
-18,177
Closed -$188K
JBGS
1149
JBG SMITH
JBGS
$708M
– –
-101,916
Closed -$1.89M
KBR icon
1150
KBR
KBR
$4.8B
– –
-22,012
Closed -$951K
44 45
46
47 48

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BOK
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ZP
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AP
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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.