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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
+1.07%
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
$2.45B
AUM Growth
-$660M
Cap. Flow
-$560M
Cap. Flow %
-22.9%
Top 10 Hldgs %
80.73%
Holding
137
New
31
Increased
34
Reduced
9
Closed
54

Top Buys

Rank Stock Value
1
IWM icon
iShares Russell 2000 ETF
IWM
+$10.9M
2
INDA icon
iShares MSCI India ETF
INDA
+$10.6M
3
EPI icon
WisdomTree India Earnings Fund ETF
EPI
+$10.4M
4
XLE icon
State Street Energy Select Sector SPDR ETF
XLE
+$9.04M
5
XOP icon
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
+$8.82M

Top Sells

Rank Stock Value
1
GDX icon
VanEck Gold Miners ETF
GDX
+$68.7M
2
CVX icon
Chevron
CVX
+$37.3M
3
SU icon
Suncor Energy
SU
+$35.6M
4
CNQ icon
Canadian Natural Resources
CNQ
+$29.9M
5
NBR icon
Nabors Industries
NBR
+$27.3M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 0.71%
2 Industrials 0.52%
3 Healthcare 0.44%
4 Technology 0.32%
5 Financials 0.32%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GLD icon
1
CALL
SPDR Gold Trust
GLD
$131B
$1.15B 47.05%
10,500,000
– –
IWM icon
2
PUT
iShares Russell 2000 ETF
IWM
$80.9B
$337M 13.78%
2,500,000
-2,500,000
-50% -$319M
TSLA icon
3
PUT
Tesla
TSLA
$1.24T
$61.5M 2.51%
4,314,000
+2,842,500
+193% +$37.4M
FXI icon
4
PUT
iShares China Large-Cap ETF
FXI
$4.31B
$43.4M 1.77%
+1,250,000
New +$46M
XLF icon
5
CALL
State Street Financial Select Sector SPDR ETF
XLF
$55.6B
$23.3M 0.95%
+1,000,000
New +$21.5M
XLE icon
6
State Street Energy Select Sector SPDR ETF
XLE
$39.5B
$20.8M 0.85%
553,600
+250,000
+82% +$9.04M
EWY icon
7
iShares MSCI South Korea ETF
EWY
$21.7B
$18.8M 0.77%
352,500
-254,600
-42% -$13.9M
TSL
8
PUT
DELISTED
Trina Solar Limited
TSL
$15M 0.62%
1,618,200
-891,000
-36% -$8.92M
SDRL
9
PUT
DELISTED
Seadrill Limited Common Stock
SDRL
$11.6M 0.48%
12,749
+8,095
+174% +$5.92M
IWM icon
10
iShares Russell 2000 ETF
IWM
$80.9B
$11.5M 0.47%
+85,000
New +$10.9M
INDA icon
11
iShares MSCI India ETF
INDA
$6.71B
$10.2M 0.42%
+382,000
New +$10.6M
EPI icon
12
WisdomTree India Earnings Fund ETF
EPI
$2.02B
$10.1M 0.41%
+499,000
New +$10.4M
EXEL icon
13
Exelixis
EXEL
$13.9B
$9.89M 0.4%
663,180
-137,800
-17% -$1.99M
XOP icon
14
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$3.42B
$9.32M 0.38%
+56,250
New +$8.82M
RSX
15
DELISTED
VanEck Russia ETF
RSX
$6.37M 0.26%
+300,000
New +$5.82M
KCG
16
PUT
DELISTED
KCG Holdings, Inc.
KCG
$6.36M 0.26%
+480,000
New +$6.75M
LKM
17
PUT
DELISTED
Link Motion Inc.
LKM
$5.84M 0.24%
1,812,600
-1,217,200
-40% -$4.23M
XLF icon
18
State Street Financial Select Sector SPDR ETF
XLF
$55.6B
$4.71M 0.19%
+202,800
New +$4.35M
EWW icon
19
iShares MSCI Mexico ETF
EWW
$1.89B
$4.4M 0.18%
+100,000
New +$4.7M
CME icon
20
CME Group
CME
$92.2B
$3.46M 0.14%
30,000
– –
THC icon
21
PUT
Tenet Healthcare
THC
$20.1B
$2.97M 0.12%
+200,000
New +$3.59M
CNX icon
22
PUT
CNX Resources
CNX
$4.85B
$2.73M 0.11%
180,000
– –
UNVR
23
DELISTED
Univar Solutions Inc.
UNVR
$2.64M 0.11%
92,998
+51,200
+122% +$1.24M
PRKS icon
24
United Parks & Resorts
PRKS
$2.11B
$2.56M 0.1%
135,200
+103,300
+324% +$1.69M
DAN icon
25
Dana Inc
DAN
$2.91B
$2.55M 0.1%
134,400
+72,000
+115% +$1.2M
1
2 3 4 5

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Graham Capital Management's Q4 2016 Portfolio in Review

As of Q4 2016, Graham Capital Management held 137 positions worth $2.45B, down 21% from $3.11B the previous quarter. Its ten largest holdings account for 81% of the portfolio.

Graham Capital Management withdrew a net $560M in Q4 2016, closing 54 positions and reducing 9 holdings. Its most notable exit was VanEck Gold Miners ETF, an estimated $68.7M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 0.71% of assets, up from 0.2% a quarter earlier, followed by Industrials and Healthcare.

Against the trend, Graham Capital Management opened a new position in iShares Russell 2000 ETF worth $11.5M.

  • Graham Capital Management's largest Q4 2016 buy was iShares Russell 2000 ETF: 85,000 shares worth $11.5M.
  • Graham Capital Management added most to State Street Energy Select Sector SPDR ETF in Q4 2016, an estimated $9.04M increase.
  • Graham Capital Management's biggest Q4 2016 reduction was Chevron, cutting an estimated $37.3M.
  • Graham Capital Management fully exited VanEck Gold Miners ETF in Q4 2016, selling an estimated $68.7M.
  • Graham Capital Management's ten largest holdings make up 81% of its $2.45B portfolio in Q4 2016.
  • Graham Capital Management opened 31 new positions and closed 54 in Q4 2016.
  • Graham Capital Management's portfolio value fell 21% quarter-over-quarter to $2.45B.

Based on Graham Capital Management's 13F filing for Q4 2016, filed 14 Feb 2017.