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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
BHR
1176
Braemar Hotels & Resorts
BHR
$142M
$113K ﹤0.01%
45,467
+14,861
+49% +$40.6K
LUXE
1177
LuxExperience B.V.
LUXE
$1.11B
$113K ﹤0.01%
+14,907
New +$138K
HLLY icon
1178
Holley
HLLY
$384M
$112K ﹤0.01%
43,577
+8,788
+25% +$24.7K
LUNG icon
1179
Pulmonx
LUNG
$87.6M
$112K ﹤0.01%
16,623
-1,448
-8% -$10.3K
ATXS
1180
DELISTED
Astria Therapeutics
ATXS
$111K ﹤0.01%
+20,841
New +$146K
MREO
1181
Mereo BioPharma
MREO
$47.3M
$111K ﹤0.01%
49,418
+27,229
+123% +$77K
FATE icon
1182
Fate Therapeutics
FATE
$326M
$111K ﹤0.01%
140,064
+117,722
+527% +$144K
ENTA icon
1183
Enanta Pharmaceuticals
ENTA
$400M
$111K ﹤0.01%
+20,022
New +$124K
WOW
1184
DELISTED
WideOpenWest
WOW
$110K ﹤0.01%
22,272
-2,872
-11% -$13.2K
TE
1185
T1 Energy
TE
$1.63B
$109K ﹤0.01%
+86,382
New +$159K
NKTR icon
1186
Nektar Therapeutics
NKTR
$2.58B
$106K ﹤0.01%
10,378
+3,917
+61% +$51.2K
SRTA
1187
Strata Critical Medical Inc
SRTA
$512M
$105K ﹤0.01%
+38,457
New +$138K
GPMT
1188
Granite Point Mortgage Trust
GPMT
$61.2M
$105K ﹤0.01%
40,272
+7,422
+23% +$21.1K
FORR icon
1189
Forrester Research
FORR
$224M
$104K ﹤0.01%
+11,279
New +$143K
RCUS icon
1190
Arcus Biosciences
RCUS
$3.64B
$102K ﹤0.01%
+13,025
New +$151K
FF icon
1191
Future Fuel
FF
$223M
$101K ﹤0.01%
25,824
+7,798
+43% +$37.5K
EHTH icon
1192
eHealth
EHTH
$43.9M
$101K ﹤0.01%
15,045
+3,396
+29% +$30.9K
MXCT icon
1193
MaxCyte
MXCT
$126M
$100K ﹤0.01%
36,726
+13,679
+59% +$53.9K
KOD icon
1194
Kodiak Sciences
KOD
$2.84B
$93.5K ﹤0.01%
+33,339
New +$181K
CTLP
1195
DELISTED
Cantaloupe
CTLP
$91.7K ﹤0.01%
+11,651
New +$103K
TLS icon
1196
Telos
TLS
$358M
$90.9K ﹤0.01%
+38,211
New +$117K
SAND
1197
DELISTED
Sandstorm Gold
SAND
$90.2K ﹤0.01%
11,944
-68,304
-85% -$427K
RXT icon
1198
Rackspace Technology
RXT
$1.24B
$87.3K ﹤0.01%
51,636
+4,364
+9% +$10.4K
ANRO icon
1199
Alto Neuroscience
ANRO
$1.11B
$86.8K ﹤0.01%
40,199
-8,030
-17% -$28.7K
GPRE icon
1200
Green Plains
GPRE
$1.03B
$84.2K ﹤0.01%
17,352
-48,025
-73% -$344K
46 47
48
49 50

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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.