GCM

Graham Capital Management Portfolio holdings

AUM $3.28B

1-Year Est. Return 7.17%

2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2

This Quarter Est. Return

1 Year Est. Return

+7.17%

3 Year Est. Return

5 Year Est. Return

10 Year Est. Return

AUM

$3.15B

AUM Growth

-$86.5M (-2.7%)

Cap. Flow

Cap. Flow % of AUM

Top 10 Holdings % Top 10 Hldgs %

Holding

1,552

New

Increased

Reduced

Closed

Top Buys

1		+$22.2M
2		+$17M
3		+$15.6M
4	Citigroup C	+$15.4M
5	Mercado Libre MELI	+$12.9M

Top Sells

1		+$34.1M
2		+$18.5M
3		+$18.1M
4	iShares TIPS Bond ETF TIP	+$15.7M
5	Southern Company SO	+$15M

Sector Composition

1	Financials	10.32%
2	Technology	10.06%
3	Industrials	7.86%
4	Consumer Discretionary	7.56%
5	Healthcare	5.76%

Communication Services

Advertising Agencies

Broadcasting

Electronic Gaming & Multimedia

Entertainment

Internet Content & Information

Publishing

Telecom Services

Consumer Discretionary

Apparel Manufacturing

Apparel Retail

Auto Manufacturers

Auto Parts

Auto & Truck Dealerships

Department Stores

Footwear & Accessories

Furnishings, Fixtures & Appliances

Gambling

Home Improvement Retail

Internet Retail

Leisure

Lodging

Luxury Goods

Packaging & Containers

Personal Services

Recreational Vehicles

Residential Construction

Resorts & Casinos

Restaurants

Specialty Retail

Textile Manufacturing

Travel Services

Consumer Staples

Beverages - Brewers

Beverages - Non-Alcoholic

Beverages - Wineries & Distilleries

Confectioners

Discount Stores

Education & Training Services

Farm Products

Food Distribution

Grocery Stores

Household & Personal Products

Packaged Foods

Tobacco

Energy

Oil & Gas Drilling

Oil & Gas Equipment & Services

Oil & Gas Exploration & Production

Oil & Gas Integrated

Oil & Gas Midstream

Oil & Gas Refining & Marketing

Thermal Coal

Uranium

Financials

Asset Management

Banks - Diversified

Banks - Regional

Capital Markets

Credit Services

Diversified Insurance

Financial Conglomerates

Financial Data & Stock Exchanges

Insurance Brokers

Life Insurance

Mortgage Finance

Property & Casualty Insurance

Reinsurance

Shell Companies

Specialty - Insurance

Healthcare

Biotechnology

Diagnostics & Research

Drug Manufacturers - General

Drug Manufacturers - Specialty & Generic

Healthcare Plans

Health Information Services

Medical Care Facilities

Medical Devices

Medical Distribution

Medical Instruments & Supplies

Pharmaceutical Retailers

Industrials

Aerospace & Defense

Airlines

Airports & Air Services

Building Products & Equipment

Business Equipment & Supplies

Conglomerates

Consulting Services

Electrical Equipment & Parts

Engineering & Construction

Farm & Heavy Construction Machinery

Industrial Distribution

Infrastructure Operations

Integrated Freight & Logistics

Marine Shipping

Metal Fabrication

Pollution & Treatment Controls

Railroads

Rental & Leasing Services

Security & Protection Services

Specialty Business Services

Specialty Industrial Machinery

Staffing & Employment Services

Tools & Accessories

Trucking

Waste Management

Materials

Agricultural Inputs

Aluminum

Building Materials

Chemicals

Coking Coal

Copper

Gold

Lumber & Wood Production

Other Industrial Metals & Mining

Other Precious Metals & Mining

Paper & Paper Products

Silver

Specialty Chemicals

Steel

Real Estate

Diversified REIT

Healthcare Facilities REIT

Hotel & Motel REIT

Industrial REIT

Mortgage REIT

Office REIT

Real Estate Development

Real Estate Diversified

Real Estate Services

Residential REIT

Retail REIT

Specialty REIT

Technology

Communication Equipment

Computer Hardware

Consumer Electronics

Electronic Components

Electronics & Computer Distribution

Information Technology Services

Scientific & Technical Instruments

Semiconductor Equipment & Materials

Semiconductors

Software - Application

Software - Infrastructure

Solar

Utilities

Diversified Utilities

Electric Utilities

Gas Utilities

Independent Power Producers

Renewable Electricity

Water Utilities

#	Name	Market Value	Portfolio Weight	Shares or Principal
201	201 Carvana CVNA $46.1B	$2.79M	0.05%	13,333 +5,817
202	202 Lyft LYFT $8.1B	$2.77M	0.05%	233,609 +154,297
203	203 Keysight KEYS $27.9B	$2.76M	0.05%	+18,437
204	204 Qiagen QGEN $10.5B	$2.73M	0.05%	68,114 +33,756
205	205 Waste Management WM $86.8B	$2.71M	0.05%	11,703 -6,386
206	206 Tyler Technologies TYL $21.9B	$2.7M	0.05%	4,640 -2,573
207	207 Masco MAS $14.2B	$2.69M	0.05%	38,732 -26,353
208	208 Permian Resources PR $9.15B	$2.65M	0.05%	+191,665
209	209 Veeva Systems VEEV $46.5B	$2.64M	0.05%	11,383 -3,443
210	210 iShares US Home Construction ETF ITB $3.15B	$2.62M	0.05%	+27,500
211	211 Ally Financial ALLY $12.3B	$2.62M	0.05%	+71,762
212	212 AppFolio APPF $8.44B	$2.61M	0.05%	11,869 +417
213	213 Essex Property Trust ESS $16.7B	$2.6M	0.05%	8,494 +7,483
214	214 Dell DELL $100B	$2.6M	0.05%	+28,486
215	215 Sony SONY $173B	$2.57M	0.05%	101,303 +19,951
216	216 Ametek AME $42.8B	$2.57M	0.05%	14,941 -7,747
217	217 Zurn Elkay Water Solutions ZWS $7.66B	$2.56M	0.04%	77,770 +40,920
218	218 PAR Technology PAR $1.42B	$2.56M	0.04%	41,730 +30,360
219	219 Oscar Health OSCR $5.01B	$2.56M	0.04%	194,902 +66,825
220	220 DiamondRock Hospitality DRH $1.58B	$2.56M	0.04%	330,965 +102,213
221	221 Flowserve FLS $6.61B	$2.55M	0.04%	52,142 -16,514
222	222 Vale VALE $47.4B	$2.53M	0.04%	253,260 -94,581
223	223 Pinnacle West Capital PNW $11.1B	$2.52M	0.04%	26,408 +13,269
224	224 WisdomTree WT $1.9B	$2.49M	0.04%	279,422 +87,398
225	225 Lumentum LITE $11.7B	$2.45M	0.04%	+39,353