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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
+0.72%
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
$3.84B
AUM Growth
-$927M
Cap. Flow
-$974M
Cap. Flow %
-25.37%
Top 10 Hldgs %
84.42%
Holding
138
New
82
Increased
6
Reduced
11
Closed
20

Top Buys

Rank Stock Value
1
TWX
Time Warner Inc
TWX
+$60.6M
2
CZR
Caesars Entertainment Corporation
CZR
+$21.8M
3
QQQ icon
Invesco QQQ Trust
QQQ
+$13.8M
4
XLY icon
State Street Consumer Discretionary Select Sector SPDR ETF
XLY
+$13.8M
5
XME icon
State Street SPDR S&P Metals & Mining ETF
XME
+$13M

Top Sells

Rank Stock Value
1
XLF icon
State Street Financial Select Sector SPDR ETF
XLF
+$27.1M
2
INDA icon
iShares MSCI India ETF
INDA
+$24.4M
3
EWZ icon
iShares MSCI Brazil ETF
EWZ
+$18.2M
4
GDX icon
VanEck Gold Miners ETF
GDX
+$16.3M
5
BAC icon
Bank of America
BAC
+$15.5M

Sector Composition

Rank Sector Weight
1 Communication Services 1.91%
2 Consumer Discretionary 0.81%
3 Technology 0.66%
4 Financials 0.65%
5 Energy 0.3%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GLD icon
1
CALL
SPDR Gold Trust
GLD
$131B
$1.92B 49.94%
15,500,000
– –
HYG icon
2
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.3B
$482M 12.55%
+5,518,600
New +$484M
SPY icon
3
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$778B
$400M 10.43%
1,500,000
-450,000
-23% -$117M
TWX
4
DELISTED
Time Warner Inc
TWX
$58.6M 1.53%
+641,166
New +$60.6M
XLE icon
5
State Street Energy Select Sector SPDR ETF
XLE
$39.5B
$50.7M 1.32%
1,403,372
+303,172
+28% +$10.4M
XLF icon
6
State Street Financial Select Sector SPDR ETF
XLF
$55.6B
$36.4M 0.95%
1,305,800
-1,006,714
-44% -$27.1M
AMLP icon
7
Alerian MLP ETF
AMLP
$13B
$30.8M 0.8%
570,000
-72,857
-11% -$3.9M
CZR
8
DELISTED
Caesars Entertainment Corporation
CZR
$22.5M 0.59%
1,777,504
+1,720,355
+3,010% +$21.8M
EWZ icon
9
iShares MSCI Brazil ETF
EWZ
$9.05B
$20.2M 0.53%
500,000
-450,000
-47% -$18.2M
GDX icon
10
VanEck Gold Miners ETF
GDX
$23B
$19.1M 0.5%
823,661
-717,597
-47% -$16.3M
XME icon
11
State Street SPDR S&P Metals & Mining ETF
XME
$4.05B
$14.5M 0.38%
+400,000
New +$13M
XLY icon
12
State Street Consumer Discretionary Select Sector SPDR ETF
XLY
$21.4B
$14.4M 0.38%
+292,784
New +$13.8M
QQQ icon
13
Invesco QQQ Trust
QQQ
$455B
$14.1M 0.37%
+90,391
New +$13.8M
EEM icon
14
iShares MSCI Emerging Markets ETF
EEM
$28B
$11.7M 0.31%
248,844
+17,908
+8% +$829K
NXPI icon
15
NXP Semiconductors
NXPI
$68B
$9.8M 0.26%
+83,672
New +$9.67M
OIH icon
16
VanEck Oil Services ETF
OIH
$2.06B
$5.21M 0.14%
+10,000
New +$4.96M
TSLA icon
17
PUT
Tesla
TSLA
$1.24T
$4.67M 0.12%
225,000
– –
CME icon
18
CME Group
CME
$92.2B
$4.38M 0.11%
30,000
– –
CYH icon
19
PUT
Community Health Systems
CYH
$385M
$4.37M 0.11%
+1,025,000
New +$5.15M
GMLP
20
PUT
DELISTED
Golar LNG Partners LP
GMLP
$3.42M 0.09%
+150,000
New +$3.29M
RIG icon
21
PUT
Transocean
RIG
$5.92B
$2.94M 0.08%
+275,000
New +$2.86M
RDUS
22
PUT
DELISTED
Radius Health, Inc.
RDUS
$2.86M 0.07%
90,000
– –
NOV icon
23
NOV
NOV
$7.45B
$2.71M 0.07%
+75,265
New +$2.55M
CVX icon
24
Chevron
CVX
$388B
$2.65M 0.07%
+21,177
New +$2.51M
T icon
25
AT&T
T
$165B
$2.65M 0.07%
+90,056
New +$2.46M
1
2 3 4 5

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ZP
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AP
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Graham Capital Management's Q4 2017 Portfolio in Review

As of Q4 2017, Graham Capital Management held 138 positions worth $3.84B, down 19% from $4.76B the previous quarter. Its ten largest holdings account for 84% of the portfolio.

Graham Capital Management withdrew a net $974M in Q4 2017, closing 20 positions and reducing 11 holdings. Its most notable exit was iShares MSCI India ETF, an estimated $24.4M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 1.9% of assets, up from 0.27% a quarter earlier, followed by Consumer Discretionary and Technology.

Against the trend, Graham Capital Management opened a new position in Time Warner Inc worth $58.6M.

  • Graham Capital Management's largest Q4 2017 buy was Time Warner Inc: 641,166 shares worth $58.6M.
  • Graham Capital Management added most to Caesars Entertainment Corporation in Q4 2017, an estimated $21.8M increase.
  • Graham Capital Management's biggest Q4 2017 reduction was State Street Financial Select Sector SPDR ETF, cutting an estimated $27.1M.
  • Graham Capital Management fully exited iShares MSCI India ETF in Q4 2017, selling an estimated $24.4M.
  • Graham Capital Management's ten largest holdings make up 84% of its $3.84B portfolio in Q4 2017.
  • Graham Capital Management opened 82 new positions and closed 20 in Q4 2017.
  • Graham Capital Management's portfolio value fell 19% quarter-over-quarter to $3.84B.

Based on Graham Capital Management's 13F filing for Q4 2017, filed 14 Feb 2018.