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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
GPRO icon
1201
GoPro
GPRO
$126M
$83.3K ﹤0.01%
125,736
+53,483
+74% +$47.2K
CGAU
1202
Centerra Gold
CGAU
$4.15B
$82.3K ﹤0.01%
12,962
-22,848
-64% -$140K
QQQ icon
1203
Invesco QQQ Trust
QQQ
$481B
$80.7K ﹤0.01%
+172
New +$87.4K
RCKT icon
1204
Rocket Pharmaceuticals
RCKT
$394M
$74.4K ﹤0.01%
+11,150
New +$110K
CRBU icon
1205
Caribou Biosciences
CRBU
$164M
$67.8K ﹤0.01%
+74,225
New +$96.5K
OGI
1206
Organigram Holdings
OGI
$139M
$63K ﹤0.01%
62,360
+29,329
+89% +$39K
NNDM
1207
Nano Dimension
NNDM
$343M
$62.1K ﹤0.01%
39,027
+14,671
+60% +$33.2K
ERAS icon
1208
Erasca
ERAS
$6.39B
$57.6K ﹤0.01%
+42,009
New +$72.1K
CRON
1209
Cronos Group
CRON
$1.14B
$54.5K ﹤0.01%
30,136
+5,362
+22% +$10.4K
BTE icon
1210
Baytex Energy
BTE
$2.92B
$52.8K ﹤0.01%
+23,695
New +$56.4K
ALEC icon
1211
Alector
ALEC
$199M
$50.6K ﹤0.01%
+41,098
New +$66.9K
AVIR icon
1212
Atea Pharmaceuticals
AVIR
$420M
$49.9K ﹤0.01%
16,702
+4,191
+33% +$13.1K
TALK icon
1213
Talkspace
TALK
$874M
$47.1K ﹤0.01%
+18,414
New +$57.4K
EVC icon
1214
Entravision Communication
EVC
$1.1B
$47K ﹤0.01%
22,402
+5,376
+32% +$11.8K
CCO icon
1215
Clear Channel Outdoor Holdings
CCO
$1.23B
$43.6K ﹤0.01%
39,241
+12,860
+49% +$17K
FSP
1216
Franklin Street Properties
FSP
$46.8M
$43K ﹤0.01%
24,161
+1,920
+9% +$3.54K
SHLS icon
1217
Shoals Technologies Group
SHLS
$1.5B
$42.2K ﹤0.01%
12,700
-209,114
-94% -$869K
SB icon
1218
Safe Bulkers
SB
$774M
$41K ﹤0.01%
11,107
-2,707
-20% -$9.86K
PBYI icon
1219
Puma Biotechnology
PBYI
$454M
$37.7K ﹤0.01%
12,752
+2,020
+19% +$6.32K
VXRT
1220
DELISTED
Vaxart
VXRT
$36.4K ﹤0.01%
89,541
+36,210
+68% +$23.2K
AKBA icon
1221
Akebia Therapeutics
AKBA
$252M
$33.7K ﹤0.01%
+17,553
New +$35.8K
LYEL icon
1222
Lyell Immunopharma
LYEL
$360M
$33.1K ﹤0.01%
3,080
+473
+18% +$5.79K
WTI icon
1223
W&T Offshore
WTI
$518M
$32.2K ﹤0.01%
20,767
+2,499
+14% +$4.12K
GOSS icon
1224
Gossamer Bio
GOSS
$87M
$31.9K ﹤0.01%
28,977
-5,970
-17% -$6.9K
NOTE
1225
DELISTED
FiscalNote
NOTE
$21.9K ﹤0.01%
+2,255
New +$33.9K
47 48
49
50 51

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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.