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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
LSPD icon
1451
Lightspeed Commerce
LSPD
$1.35B
– –
-55,250
Closed -$483K
LYEL icon
1452
Lyell Immunopharma
LYEL
$360M
– –
-3,080
Closed -$33.1K
LZB icon
1453
La-Z-Boy
LZB
$1.69B
– –
-7,266
Closed -$284K
MATW icon
1454
Matthews International
MATW
$739M
– –
-13,741
Closed -$306K
MAXN
1455
PUT
DELISTED
Maxeon Solar Technologies
MAXN
– –
-289,000
Closed -$853K
MCO icon
1456
Moody's
MCO
$82.7B
– –
-13,099
Closed -$6.1M
MDLZ icon
1457
Mondelez International
MDLZ
$79.9B
– –
-18,440
Closed -$1.25M
MDU icon
1458
MDU Resources
MDU
$4.32B
– –
-19,004
Closed -$321K
MEC icon
1459
Mayville Engineering Co
MEC
$617M
– –
-13,431
Closed -$180K
ONT
1460
Onterris Inc
ONT
$580M
– –
-40,474
Closed -$577K
METC icon
1461
Ramaco Resources Class A
METC
$649M
– –
-352,927
Closed -$2.88M
MGA icon
1462
Magna International
MGA
$18.8B
– –
-11,228
Closed -$382K
MGNI icon
1463
Magnite
MGNI
$3.55B
– –
-11,182
Closed -$128K
MLYS icon
1464
Mineralys Therapeutics
MLYS
$2.41B
– –
-10,375
Closed -$165K
CALY
1465
Callaway Golf Company
CALY
$3.14B
– –
-293,695
Closed -$1.94M
MRK icon
1466
Merck
MRK
$318B
– –
-96,589
Closed -$8.67M
MRVL icon
1467
Marvell Technology
MRVL
$196B
– –
-74,975
Closed -$4.62M
MS icon
1468
Morgan Stanley
MS
$340B
– –
-4,649
Closed -$542K
MSA icon
1469
Mine Safety
MSA
$7.49B
– –
-19,906
Closed -$2.92M
MSEX icon
1470
Middlesex Water
MSEX
$1.1B
– –
-7,666
Closed -$491K
MSFT icon
1471
Microsoft
MSFT
$3.71T
– –
-541
Closed -$203K
MSOS icon
1472
AdvisorShares Pure US Cannabis ETF
MSOS
$880M
– –
-1,176,253
Closed -$3.07M
MTD icon
1473
Mettler-Toledo International
MTD
$28.6B
– –
-239
Closed -$282K
MTRN icon
1474
Materion
MTRN
$6.04B
– –
-4,362
Closed -$356K
MTX icon
1475
Minerals Technologies
MTX
$2.34B
– –
-19,402
Closed -$1.23M
57 58
59
60 61

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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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BG
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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.