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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
-4.44%
1 Year Est. Return
+17.82%
3 Year Est. Return
+41.13%
5 Year Est. Return
+43.39%
10 Year Est. Return
+148.36%
AUM
$2.27B
AUM Growth
-$1.06B
(-32%)
Cap. Flow
-$871M
Cap. Flow
% of AUM
-38.43%
Top 10 Holdings %
Top 10 Hldgs %
50.2%
Holding
193
New
40
Increased
41
Reduced
39
Closed
56
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$66.5M |
| 2 |
Halliburton
HAL
|
+$34.1M |
| 3 |
State Street Financial Select Sector SPDR ETF
XLF
|
+$23.1M |
| 4 |
Suncor Energy
SU
|
+$14.9M |
| 5 |
D.R. Horton
DHI
|
+$14.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
MRO
Marathon Oil Corporation
MRO
|
+$42.6M |
| 2 |
LyondellBasell Industries
LYB
|
+$41.4M |
| 3 |
Verizon
VZ
|
+$26.1M |
| 4 |
UPL
Ultra Petroleum Corp. Common Stock
UPL
|
+$23.1M |
| 5 |
Citigroup
C
|
+$22.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 14.79% |
| 2 | Financials | 3.47% |
| 3 | Consumer Discretionary | 1.52% |
| 4 | Communication Services | 1.46% |
| 5 | Materials | 1.38% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $368M | 16.24% |
1,868,000
-953,600
| -34% | -$189M |
|
|
2
CALL
iShares MSCI Emerging Markets ETF
EEM
$28B
| $335M | 14.8% |
8,069,700
-2,150,700
| -21% | -$95.1M |
|
3
CALL
Invesco QQQ Trust
QQQ
$455B
| $98.8M | 4.36% |
1,000,000
-1,573,600
| -61% | -$153M |
|
|
4
iShares MSCI Emerging Markets ETF
EEM
$28B
| $62.5M | 2.76% |
+1,503,247
| New | +$66.5M |
|
|
5
Halliburton
HAL
$27.9B
| $57.7M | 2.55% |
894,739
+497,446
| +125% | +$34.1M |
|
6
CALL
Bank of America
BAC
$435B
| $43.6M | 1.92% |
+2,554,300
| New | +$40.7M |
|
7
PUT
iShares Russell 2000 ETF
IWM
$80.9B
| $42.1M | 1.86% |
+450,000
| New | +$51.5M |
|
|
8
iShares Russell 2000 ETF
IWM
$80.9B
| $40.8M | 1.8% |
373,134
-188,866
| -34% | -$21.6M |
|
|
JOYY
9
PUT
JOYY Inc
JOYY
$3.73B
| $38.9M | 1.72% |
520,000
+217,300
| +72% | +$17.7M |
|
|
10
Bank of America
BAC
$435B
| $36.8M | 1.62% |
2,157,634
+620,948
| +40% | +$9.89M |
|
11
EQT Corp
EQT
$33.2B
| $35.7M | 1.58% |
716,614
-48,243
| -6% | -$2.55M |
|
|
12
Citigroup
C
$222B
| $32.8M | 1.45% |
632,471
-441,262
| -41% | -$22.2M |
|
13
CALL
General Motors
GM
$74.7B
| $31M | 1.37% |
970,000
+344,100
| +55% | +$12M |
|
|
APC
14
DELISTED
Anadarko Petroleum
APC
| $30.5M | 1.35% |
300,999
-113,539
| -27% | -$12.2M |
|
|
15
CALL
iShares Russell 2000 ETF
IWM
$80.9B
| $28.1M | 1.24% |
300,000
+213,500
| +247% | +$24.4M |
|
|
16
State Street Financial Select Sector SPDR ETF
XLF
$55.6B
| $25.7M | 1.13% |
1,262,743
+1,144,873
| +971% | +$23.1M |
|
|
17
PUT
iShares MSCI Emerging Markets ETF
EEM
$28B
| $25.6M | 1.13% |
+615,000
| New | +$27.2M |
|
|
18
Verizon
VZ
$194B
| $19.9M | 0.88% |
398,444
-525,905
| -57% | -$26.1M |
|
|
QIHU
19
PUT
DELISTED
QIHOO 360 TECHNOLOGY CO LTD ADS RPSTG 3 CL A SHS
QIHU
| $19.6M | 0.86% |
290,500
+180,500
| +164% | +$16.1M |
|
|
HES
20
DELISTED
Hess
HES
| $19.6M | 0.86% |
207,690
-69,195
| -25% | -$6.84M |
|
|
JKS
21
PUT
JinkoSolar
JKS
$775M
| $19.4M | 0.86% |
706,000
+383,500
| +119% | +$10.9M |
|
|
YHOO
22
DELISTED
Yahoo Inc
YHOO
| $19.3M | 0.85% |
473,850
-568,869
| -55% | -$21.3M |
|
|
NFX
23
DELISTED
Newfield Exploration
NFX
| $19M | 0.84% |
512,535
-305,923
| -37% | -$12.7M |
|
|
YHOO
24
CALL
DELISTED
Yahoo Inc
YHOO
| $18.3M | 0.81% |
448,400
+17,100
| +4% | +$641K |
|
|
XEC
25
DELISTED
CIMAREX ENERGY CO
XEC
| $17.6M | 0.78% |
139,171
-95,829
| -41% | -$13.3M |
|
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Graham Capital Management's Q3 2014 Portfolio in Review
As of Q3 2014, Graham Capital Management held 193 positions worth $2.27B, down 32% from $3.32B the previous quarter. Its ten largest holdings account for 50% of the portfolio.
Graham Capital Management withdrew a net $871M in Q3 2014, closing 56 positions and reducing 39 holdings. Its most notable exit was LyondellBasell Industries, an estimated $41.4M position sold in full.
By sector, the portfolio is most concentrated in Energy at 15% of assets, up from 15% a quarter earlier, followed by Financials and Consumer Discretionary.
Against the trend, Graham Capital Management opened a new position in iShares MSCI Emerging Markets ETF worth $62.5M.
- Graham Capital Management's largest Q3 2014 buy was iShares MSCI Emerging Markets ETF: 1,503,247 shares worth $62.5M.
- Graham Capital Management added most to Halliburton in Q3 2014, an estimated $34.1M increase.
- Graham Capital Management's biggest Q3 2014 reduction was Marathon Oil Corporation, cutting an estimated $42.6M.
- Graham Capital Management fully exited LyondellBasell Industries in Q3 2014, selling an estimated $41.4M.
- Graham Capital Management's ten largest holdings make up 50% of its $2.27B portfolio in Q3 2014.
- Graham Capital Management opened 40 new positions and closed 56 in Q3 2014.
- Graham Capital Management's portfolio value fell 32% quarter-over-quarter to $2.27B.
Based on Graham Capital Management's 13F filing for Q3 2014, filed 14 Nov 2014.