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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 4.35%
4 Consumer Discretionary 4.17%
5 Healthcare 3.18%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SKYW icon
101
Skywest
SKYW
$4.34B
$5.5M 0.1%
62,955
+26,135
+71% +$2.67M
WBS icon
102
Webster Financial
WBS
$12.8B
$5.44M 0.1%
+105,608
New +$5.88M
FYBR
103
DELISTED
Frontier Communications
FYBR
$5.44M 0.1%
+151,760
New +$5.42M
FXI icon
104
iShares China Large-Cap ETF
FXI
$4.31B
$5.38M 0.09%
+150,000
New +$5.08M
WEN icon
105
Wendy's
WEN
$1.46B
$5.29M 0.09%
361,891
+274,692
+315% +$4.13M
SPGI icon
106
S&P Global
SPGI
$120B
$5.27M 0.09%
10,374
-17,817
-63% -$9.1M
YPF icon
107
YPF Sociedad Anonima American Depositary Shares (Each representing ten (10) Class D shares of Capital Stock)
YPF
$19.3B
$5.26M 0.09%
150,221
+142,832
+1,933% +$5.47M
V icon
108
PUT
Visa
V
$677B
$5.26M 0.09%
+15,000
New +$5.08M
FOUR icon
109
Shift4
FOUR
$3.26B
$5.25M 0.09%
64,215
– –
SPLV icon
110
Invesco S&P 500 Low Volatility ETF
SPLV
$7.21B
$5.23M 0.09%
+70,000
New +$5.06M
XLK icon
111
State Street Technology Select Sector SPDR ETF
XLK
$124B
$5.16M 0.09%
+50,000
New +$5.67M
OKTA icon
112
Okta
OKTA
$25.8B
$5.16M 0.09%
49,011
+37,710
+334% +$3.68M
EWJ icon
113
iShares MSCI Japan ETF
EWJ
$23B
$5.09M 0.09%
+74,229
New +$5.1M
COST icon
114
Costco
COST
$420B
$5.07M 0.09%
+5,359
New +$5.22M
IBKR icon
115
Interactive Brokers
IBKR
$39.8B
$5M 0.09%
120,768
+11,808
+11% +$585K
WMT icon
116
Walmart Inc
WMT
$890B
$4.97M 0.09%
56,641
-27,107
-32% -$2.54M
XLI icon
117
State Street Industrial Select Sector SPDR ETF
XLI
$33.7B
$4.92M 0.09%
+37,500
New +$5.07M
CMG icon
118
Chipotle Mexican Grill
CMG
$41.5B
$4.87M 0.09%
+97,006
New +$5.28M
PSA icon
119
Public Storage
PSA
$61.3B
$4.86M 0.09%
16,237
+11,553
+247% +$3.46M
NVS icon
120
Novartis
NVS
$297B
$4.85M 0.08%
43,479
-4,714
-10% -$502K
SBRA icon
121
Sabra Healthcare REIT
SBRA
$5.37B
$4.83M 0.08%
276,544
+75,893
+38% +$1.28M
ENSG icon
122
The Ensign Group
ENSG
$10.7B
$4.82M 0.08%
37,255
+14,772
+66% +$1.96M
LBTYA icon
123
Liberty Global Class A
LBTYA
$3.6B
$4.81M 0.08%
418,174
+282,431
+208% +$3.29M
SNOW icon
124
Snowflake
SNOW
$115B
$4.76M 0.08%
32,592
+12,026
+58% +$2.04M
CAVA icon
125
CAVA Group
CAVA
$7.27B
$4.75M 0.08%
54,988
+29,970
+120% +$3.25M
3 4
5
6 7

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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.