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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
CIEN icon
1301
Ciena
CIEN
$58.4B
– –
-117,235
Closed -$9.94M
CIVI
1302
DELISTED
Civitas Resources
CIVI
– –
-112,412
Closed -$5.16M
CLBT icon
1303
Cellebrite
CLBT
$3.99B
– –
-67,175
Closed -$1.48M
CLW icon
1304
Clearwater Paper
CLW
$376M
– –
-7,987
Closed -$238K
CNC icon
1305
Centene
CNC
$32.5B
– –
-34,079
Closed -$2.06M
CNI icon
1306
Canadian National Railway
CNI
$76.6B
– –
-6,785
Closed -$689K
CNXN icon
1307
PC Connection
CNXN
$2.12B
– –
-2,918
Closed -$202K
COO icon
1308
Cooper Companies
COO
$14.5B
– –
-24,797
Closed -$2.28M
COOK icon
1309
Traeger
COOK
$172M
– –
-308
Closed -$36.8K
CORT icon
1310
Corcept Therapeutics
CORT
$12B
– –
-13,281
Closed -$669K
CP icon
1311
Canadian Pacific Kansas City
CP
$80.5B
– –
-7,329
Closed -$530K
CPNG icon
1312
Coupang
CPNG
$29.2B
– –
-39,284
Closed -$863K
CRGY icon
1313
Crescent Energy
CRGY
$3.82B
– –
-135,855
Closed -$1.98M
CRNT icon
1314
Ceragon Networks
CRNT
$201M
– –
-29,016
Closed -$136K
CRWD icon
1315
CrowdStrike
CRWD
$218B
– –
-170,836
Closed -$14.6M
CVE icon
1316
Cenovus Energy
CVE
$52.1B
– –
-28,026
Closed -$425K
CWH icon
1317
Camping World
CWH
$653M
– –
-20,577
Closed -$434K
CYH icon
1318
Community Health Systems
CYH
$423M
– –
-263,113
Closed -$787K
CZR icon
1319
Caesars Entertainment
CZR
$6.14B
– –
-7,093
Closed -$237K
DASH icon
1320
DoorDash
DASH
$93.7B
– –
-2,780
Closed -$466K
DAVE icon
1321
Dave Inc
DAVE
$4.06B
– –
-7,844
Closed -$682K
DAWN
1322
DELISTED
Day One Biopharmaceuticals
DAWN
– –
-27,950
Closed -$354K
DIN icon
1323
Dine Brands
DIN
$452M
– –
-42,485
Closed -$1.28M
DV icon
1324
DoubleVerify
DV
$2.03B
– –
-25,827
Closed -$496K
EEM icon
1325
iShares MSCI Emerging Markets ETF
EEM
$30B
– –
-240,000
Closed -$10M
51 52
53
54 55

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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.