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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
-2.73%
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
-$2.54B
(-53%)
Cap. Flow
-$3.12B
Cap. Flow
% of AUM
-137.36%
Top 10 Holdings %
Top 10 Hldgs %
80.99%
Holding
130
New
23
Increased
5
Reduced
5
Closed
65
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street Energy Select Sector SPDR ETF
XLE
|
+$33M |
| 2 |
Alibaba
BABA
|
+$29.4M |
| 3 |
Microsoft
MSFT
|
+$18M |
| 4 |
Bank of America
BAC
|
+$13.3M |
| 5 |
Alpha Metallurgical Resources
AMR
|
+$9.67M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$1.58B |
| 2 |
SPDR Gold Trust
GLD
|
+$1.16B |
| 3 |
Invesco QQQ Trust
QQQ
|
+$259M |
| 4 |
iShares MSCI Brazil ETF
EWZ
|
+$213M |
| 5 |
iShares Russell 2000 ETF
IWM
|
+$138M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 1.33% |
| 2 | Financials | 0.9% |
| 3 | Technology | 0.9% |
| 4 | Materials | 0.42% |
| 5 | Industrials | 0.1% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
CALL
SPDR Gold Trust
GLD
$131B
| $1.21B | 53.43% |
+10,000,000
| New | +$1.16B |
|
|
2
PUT
iShares Russell 2000 ETF
IWM
$80.9B
| $134M | 5.9% |
+1,000,000
| New | +$149M |
|
|
3
State Street Energy Select Sector SPDR ETF
XLE
$39.5B
| $31M | 1.37% |
1,082,200
+985,600
| +1,020% | +$33M |
|
|
4
Alibaba
BABA
$269B
| $30.2M | 1.33% |
220,000
+198,763
| +936% | +$29.4M |
|
5
PUT
WisdomTree Japan Hedged Equity Fund
DXJ
$7.23B
| $22.3M | 0.98% |
+480,000
| New | +$25M |
|
|
6
Microsoft
MSFT
$2.84T
| $20.3M | 0.9% |
200,000
+168,341
| +532% | +$18M |
|
|
7
iShares Russell 2000 ETF
IWM
$80.9B
| $16.9M | 0.74% |
126,000
-924,000
| -88% | -$138M |
|
|
8
Bank of America
BAC
$435B
| $14.8M | 0.65% |
600,000
+488,765
| +439% | +$13.3M |
|
|
9
iShares MSCI Brazil ETF
EWZ
$9.05B
| $9.55M | 0.42% |
250,000
-5,505,957
| -96% | -$213M |
|
|
10
Alpha Metallurgical Resources
AMR
$1.82B
| $9.5M | 0.42% |
+144,584
| New | +$9.67M |
|
11
PUT
iQIYI
IQ
$1.18B
| $7.43M | 0.33% |
+500,000
| New | +$10.4M |
|
12
CME Group
CME
$92.2B
| $5.64M | 0.25% |
30,000
| – | – |
|
13
PUT
Canadian Solar
CSIQ
$906M
| $5.55M | 0.24% |
+387,200
| New | +$5.84M |
|
14
PUT
Transocean
RIG
$5.92B
| $4.51M | 0.2% |
+650,000
| New | +$6.62M |
|
|
MDR
15
PUT
DELISTED
McDermott International
MDR
| $4.25M | 0.19% |
+650,000
| New | +$6.86M |
|
16
State Street Financial Select Sector SPDR ETF
XLF
$55.6B
| $4.22M | 0.19% |
177,350
-355,600
| -67% | -$9.24M |
|
17
iShares MSCI Emerging Markets ETF
EEM
$28B
| $3.91M | 0.17% |
100,000
-1,765,000
| -95% | -$70.7M |
|
18
PUT
Encore Capital Group
ECPG
$1.93B
| $3.29M | 0.15% |
+140,000
| New | +$3.76M |
|
19
PUT
Tilray
TLRY
$479M
| $2.82M | 0.12% |
+4,000
| New | +$4.39M |
|
|
KAMN
20
PUT
DELISTED
Kaman Corp
KAMN
| $2.8M | 0.12% |
+50,000
| New | +$2.96M |
|
|
CGC
21
PUT
Canopy Growth
CGC
$375M
| $2.69M | 0.12% |
+10,000
| New | +$3.76M |
|
22
PUT
Mattel
MAT
$4.17B
| $2.5M | 0.11% |
+250,000
| New | +$3.31M |
|
23
GE Aerospace
GE
$367B
| $2.27M | 0.1% |
62,599
-73,031
| -54% | -$3.3M |
|
24
PUT
Greenlight Captial
GLRE
$563M
| $2.04M | 0.09% |
+237,300
| New | +$2.59M |
|
25
PUT
DHT Holdings
DHT
$2.97B
| $1.47M | 0.06% |
+375,000
| New | +$1.74M |
|
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Graham Capital Management's Q4 2018 Portfolio in Review
As of Q4 2018, Graham Capital Management held 130 positions worth $2.27B, down 53% from $4.81B the previous quarter. Its ten largest holdings account for 81% of the portfolio.
Graham Capital Management withdrew a net $3.12B in Q4 2018, closing 65 positions and reducing 5 holdings. Its most notable exit was State Street SPDR S&P 500 ETF Trust, an estimated $1.58B position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 1.3% of assets, up from 0.55% a quarter earlier, followed by Financials and Technology.
Against the trend, Graham Capital Management opened a new position in Alpha Metallurgical Resources worth $9.5M.
- Graham Capital Management's largest Q4 2018 buy was Alpha Metallurgical Resources: 144,584 shares worth $9.5M.
- Graham Capital Management added most to State Street Energy Select Sector SPDR ETF in Q4 2018, an estimated $33M increase.
- Graham Capital Management's biggest Q4 2018 reduction was iShares MSCI Brazil ETF, cutting an estimated $213M.
- Graham Capital Management fully exited State Street SPDR S&P 500 ETF Trust in Q4 2018, selling an estimated $1.58B.
- Graham Capital Management's ten largest holdings make up 81% of its $2.27B portfolio in Q4 2018.
- Graham Capital Management opened 23 new positions and closed 65 in Q4 2018.
- Graham Capital Management's portfolio value fell 53% quarter-over-quarter to $2.27B.
Based on Graham Capital Management's 13F filing for Q4 2018, filed 14 Feb 2019.