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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
+8.47%
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
$6.62B
AUM Growth
+$902M
Cap. Flow
+$1.08B
Cap. Flow %
16.3%
Top 10 Hldgs %
50.26%
Holding
1,697
New
464
Increased
345
Reduced
451
Closed
433

Top Buys

Rank Stock Value
1
IBIT icon
iShares Bitcoin Trust
IBIT
+$19.3M
2
VTV icon
Vanguard Morningstar Value ETF
VTV
+$18.6M
3
ICE icon
Intercontinental Exchange
ICE
+$14.5M
4
EEM icon
iShares MSCI Emerging Markets ETF
EEM
+$14.3M
5
MNST icon
Monster Beverage
MNST
+$13.3M

Top Sells

Rank Stock Value
1
C icon
Citigroup
C
+$16.9M
2
JNJ icon
Johnson & Johnson
JNJ
+$16M
3
ICOW icon
Pacer Developed Markets International Cash Cows 100 ETF
ICOW
+$15.6M
4
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$14.5M
5
VUG icon
Vanguard Morningstar Growth ETF
VUG
+$10.8M

Sector Composition

Rank Sector Weight
1 Technology 5.74%
2 Financials 5.16%
3 Industrials 4.35%
4 Consumer Discretionary 3.72%
5 Healthcare 3.09%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ACN icon
1251
Accenture
ACN
$108B
– –
-3,835
Closed -$1.2M
ACRS icon
1252
Aclaris Therapeutics
ACRS
$869M
– –
-177,558
Closed -$272K
ADAP
1253
DELISTED
Adaptimmune Therapeutics
ADAP
– –
-87,274
Closed -$17.2K
ADPT icon
1254
Adaptive Biotechnologies
ADPT
$3.97B
– –
-17,669
Closed -$131K
AHRT
1255
AH Realty Trust
AHRT
$517M
– –
-22,680
Closed -$170K
ALGT icon
1256
Allegiant Air
ALGT
$2.57B
– –
-35,469
Closed -$1.83M
ALKT icon
1257
Alkami Technology
ALKT
$2.11B
– –
-8,613
Closed -$226K
ALLE icon
1258
Allegion
ALLE
$14.4B
– –
-21,864
Closed -$2.85M
AMD icon
1259
CALL
Advanced Micro Devices
AMD
$789B
– –
-5,000
Closed -$514K
AMD icon
1260
Advanced Micro Devices
AMD
$789B
– –
-205
Closed -$21.1K
AMRC icon
1261
Ameresco
AMRC
$1.36B
– –
-73,942
Closed -$893K
AMT icon
1262
American Tower
AMT
$80.4B
– –
-15,955
Closed -$3.47M
ANGO icon
1263
AngioDynamics
ANGO
$649M
– –
-12,657
Closed -$119K
APH icon
1264
Amphenol
APH
$209B
– –
-20,366
Closed -$1.34M
APLE icon
1265
Apple Hospitality REIT
APLE
$3.82B
– –
-116,745
Closed -$1.51M
ARCO icon
1266
Arcos Dorados Holdings
ARCO
$1.74B
– –
-54,519
Closed -$439K
ARES icon
1267
Ares Management
ARES
$30.9B
– –
-4,002
Closed -$587K
ARM icon
1268
Arm
ARM
$302B
– –
-2,032
Closed -$217K
ARR
1269
Armour Residential REIT
ARR
$2.36B
– –
-64,622
Closed -$1.11M
ASLE icon
1270
AerSale
ASLE
$279M
– –
-49,393
Closed -$370K
ASM
1271
Avino Silver & Gold Mines
ASM
$1.2B
– –
-73,185
Closed -$135K
ATXS
1272
DELISTED
Astria Therapeutics
ATXS
– –
-20,841
Closed -$111K
AUB icon
1273
Atlantic Union Bankshares
AUB
$5.97B
– –
-35,565
Closed -$1.11M
AVDX
1274
DELISTED
AvidXchange
AVDX
– –
-59,725
Closed -$506K
AVO icon
1275
Mission Produce
AVO
$1.17B
– –
-58,691
Closed -$615K
49 50
51
52 53

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BOK
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ZP
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SHCM
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AP
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BHC
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MGP
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Graham Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, Graham Capital Management held 1,697 positions worth $6.62B, up 16% from $5.72B the previous quarter. Its ten largest holdings account for 50% of the portfolio.

Graham Capital Management deployed $1.08B of net new capital in Q2 2025, opening 464 new positions and adding to 345 existing holdings. Its largest new stake was Vanguard Morningstar Value ETF: 110,000 shares worth $19.4M.

By sector, the portfolio is most concentrated in Technology at 5.7% of assets, up from 5.5% a quarter earlier, followed by Financials and Industrials.

On the sell side, the largest reduction was Citigroup, an estimated $16.9M trimmed.

  • Graham Capital Management's largest Q2 2025 buy was Vanguard Morningstar Value ETF: 110,000 shares worth $19.4M.
  • Graham Capital Management added most to iShares Bitcoin Trust in Q2 2025, an estimated $19.3M increase.
  • Graham Capital Management's biggest Q2 2025 reduction was Citigroup, cutting an estimated $16.9M.
  • Graham Capital Management fully exited Pacer Developed Markets International Cash Cows 100 ETF in Q2 2025, selling an estimated $15.6M.
  • Graham Capital Management's ten largest holdings make up 50% of its $6.62B portfolio in Q2 2025.
  • Graham Capital Management opened 464 new positions and closed 433 in Q2 2025.
  • Graham Capital Management's portfolio value rose 16% quarter-over-quarter to $6.62B.

Based on Graham Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.