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Asset Manager ← All Institutions

Graham Capital Management, L.P.

Q2 2025 · Filed 2025-08-14
Market Value
$2.3B
+9.4%
Holdings
1,567
+109
New Purchases
408
Added To
327
Closed
401
Reduced
430
Top 10 Concentration
16.0%
Turnover
51.6%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
IBIT 6.78% 4.91% +1.87% $156M
VTV 0.84% 0.00% +0.84% $19M
ICE 0.71% 0.04% +0.67% $16M
EEM 0.67% 0.00% +0.67% $15M
CAT 0.68% 0.05% +0.64% $16M
MNST 0.59% 0.00% +0.59% $14M
ADI 0.58% 0.00% +0.58% $13M
BSX 0.84% 0.27% +0.57% $19M
CVX 0.54% 0.03% +0.51% $12M
SCHW 0.56% 0.07% +0.49% $13M
XLU 1.79% 1.33% +0.47% $41M
AMZN 1.11% 0.65% +0.46% $26M
ACGL 0.43% 0.00% +0.43% $10M
DG 0.97% 0.57% +0.40% $22M
SPY 0.67% 0.28% +0.39% $16M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
JNJ 0.07% 0.90% -0.83% $2M
C 0.17% 0.95% -0.77% $4M
ICOW 0.00% 0.74% -0.74% $0
HYG 0.00% 0.69% -0.69% $0
VUG 0.00% 0.51% -0.51% $0
MMM 0.40% 0.91% -0.50% $9M
CARR 0.05% 0.50% -0.44% $1M
MA 0.39% 0.81% -0.42% $9M
PG 0.02% 0.44% -0.42% $548K
MRK 0.00% 0.41% -0.41% $0
DIS 0.00% 0.41% -0.41% $0
NWSA 0.05% 0.44% -0.38% $1M
PRU 0.00% 0.37% -0.37% $0
GLW 0.00% 0.37% -0.37% $0
NOC 0.00% 0.36% -0.36% $0

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 53 $301M 13.0%
Large Cap 479 $1.3B 54.9%
Mid Cap 509 $539M 23.4%
Small Cap 432 $183M 7.9%
Micro Cap 94 $17M 0.7%

Portfolio Analytics

Avg Market Cap
$48.3B
Median Market Cap
$4.3B
Avg P/E
33.4
Median P/E
21.3
Avg Dividend Yield
0.02%
Avg Beta
1.12
# Stocks
1,529
# ETFs / Funds
38

Top Holdings (1,567 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 IBIT 6.78% 2,555,708 $156M $61.21 $53M +343,856 +15.6%
2 XLU 1.79% 506,950 $41M $81.66 $13M +151,950 +42.8%
3 AMZN 1.11% 116,754 $26M $219.39 $12M +44,702 +62.0%
4 CME 1.04% 87,349 $24M $275.62 $4M +12,349 +16.5%
5 META 0.97% 30,351 $22M $738.09 $3M -4,114 -11.9%
6 DG 0.97% 195,389 $22M $114.38 $10M +59,050 +43.3%
7 VTV 0.84% 110,000 $19M $176.74 +110,000 NEW
8 NVDA 0.84% 122,737 $19M $157.99 $6M -3,328 -2.6%
9 BSX 0.84% 180,075 $19M $107.41 $14M +124,287 +222.8%
10 BA 0.83% 90,924 $19M $209.53 $5M +7,218 +8.6%
11 MELI 0.81% 7,127 $19M $2,613.63 $5M -87 -1.2%
12 ICE 0.71% 88,878 $16M $183.47 $16M +84,541 +1949.3%
13 CAT 0.68% 40,582 $16M $388.21 $15M +37,550 +1238.5%
14 SPY 0.67% 25,152 $16M $617.85 $10M +14,552 +137.3%
15 EEM 0.67% 318,425 $15M $48.24 +318,425 NEW
16 MNST 0.59% 217,471 $14M $62.64 +217,471 NEW
17 NU 0.59% 991,909 $14M $13.72 $663K -272,387 -21.5%
18 BX 0.58% 89,723 $13M $149.58 $8M +49,273 +121.8%
19 ADI 0.58% 55,753 $13M $238.02 +55,753 NEW
20 SCHW 0.56% 140,487 $13M $91.24 $11M +121,776 +650.8%
21 GOOG 0.55% 71,676 $13M $177.39 $904K -3,924 -5.2%
22 MU 0.55% 102,266 $13M $123.25 $4M -53 -0.1%
23 NFLX 0.54% 9,349 $13M $1,339.13 $3M -909 -8.9%
24 CVX 0.54% 86,618 $12M $143.19 $12M +83,066 +2338.6%
25 CSCO 0.51% 171,050 $12M $69.38 -$527K -29,805 -14.8%
26 EWJ 0.51% 158,200 $12M $74.97 $7M +83,971 +113.1%
27 LRCX 0.51% 120,407 $12M $97.34 $5M +25,314 +26.6%
28 OKTA 0.50% 115,245 $12M $99.97 $6M +66,234 +135.1%
29 ED 0.49% 112,361 $11M $100.35 $5M +54,009 +92.6%
30 ERJ 0.49% 197,701 $11M $56.91 $724K -30,158 -13.2%
31 VEEV 0.46% 36,925 $11M $287.98 $8M +25,542 +224.4%
32 ETHA 0.43% 525,000 $10M $19.07 $4M +110,000 +26.5%
33 CMS 0.43% 144,008 $10M $69.28 -$589K +3,339 +2.4%
34 ACGL 0.43% 109,408 $10M $91.05 +109,408 NEW
35 RRC 0.41% 231,098 $9M $40.67 $133K -947 -0.4%
36 MMM 0.40% 61,232 $9M $152.24 -$10M -68,858 -52.9%
37 RGA 0.40% 45,949 $9M $198.36 -$3M -17,682 -27.8%
38 UBER 0.39% 97,089 $9M $93.30 $2M +589 +0.6%
39 MA 0.39% 16,103 $9M $561.94 -$8M -14,979 -48.2%
40 BAC 0.39% 187,947 $9M $47.32 +187,947 NEW
41 RSP 0.38% 48,100 $9M $181.74 -$266K -3,900 -7.5%
42 XHB 0.37% 86,000 $8M $98.57 $4M +44,000 +104.8%
43 EQH 0.37% 151,015 $8M $56.10 $7M +123,389 +446.6%
44 NTNX 0.36% 109,605 $8M $76.44 $7M +83,512 +320.1%
45 ADP 0.36% 27,002 $8M $308.40 +27,002 NEW
46 KO 0.36% 117,245 $8M $70.75 -$207K -1,473 -1.2%
47 FAST 0.35% 194,851 $8M $42.00 -$1M +74,711 +62.2%
48 AVGO 0.35% 29,620 $8M $275.65 +29,620 NEW
49 HLT 0.34% 29,140 $8M $266.34 $4M +13,251 +83.4%
50 SFM 0.34% 47,042 $8M $164.64 $987K +2,767 +6.2%
51 CMCSA 0.33% 215,816 $8M $35.69 +215,816 NEW
52 BRK-B 0.33% 15,761 $8M $485.77 +15,761 NEW
53 BP 0.33% 251,380 $8M $29.93 -$4M -78,677 -23.8%
54 AEE 0.32% 75,942 $7M $96.04 $683K +10,096 +15.3%
55 OEF 0.31% 23,800 $7M $304.35 +23,800 NEW
56 ETR 0.31% 85,835 $7M $83.12 +85,835 NEW
57 EMR 0.31% 53,500 $7M $133.33 +53,500 NEW
58 RBRK 0.30% 77,502 $7M $89.59 $3M +9,574 +14.1%
59 LNG 0.30% 28,083 $7M $243.52 $341K +1
60 MET 0.29% 84,597 $7M $80.42 +84,597 NEW
61 COHR 0.29% 75,090 $7M $89.21 -$921K -42,239 -36.0%
62 CNQ 0.28% 208,959 $7M $31.40 -$6M -210,042 -50.1%
63 CRM 0.28% 23,916 $7M $272.69 +23,916 NEW
64 MCK 0.28% 8,815 $6M $732.78 +8,815 NEW
65 LEN 0.28% 57,939 $6M $110.61 $5M +46,104 +389.6%
66 URI 0.28% 8,502 $6M $753.40 $5M +6,726 +378.7%
67 LRN 0.27% 43,423 $6M $145.19 $5M +33,962 +359.0%
68 INTU 0.27% 7,904 $6M $787.63 $3M +2,212 +38.9%
69 LTH 0.27% 204,394 $6M $30.33 $2M +78,435 +62.3%
70 INDA 0.27% 111,200 $6M $55.68 $4M +72,731 +189.1%
71 YUM 0.26% 41,120 $6M $148.18 $1M +11,180 +37.3%
72 XME 0.26% 90,000 $6M $67.22 -$2M -52,000 -36.6%
73 AME 0.26% 33,062 $6M $180.96 $3M +18,121 +121.3%
74 MUR 0.26% 262,731 $6M $22.50 -$2M +574 +0.2%
75 COST 0.25% 5,941 $6M $989.94 $813K +582 +10.9%
76 FI 0.25% 34,026 $6M $172.41 $3M +19,287 +130.9%
77 TEAM 0.25% 28,788 $6M $203.09 -$191K +338 +1.2%
78 PYPL 0.25% 78,034 $6M $74.32 -$3M -57,867 -42.6%
79 HBAN 0.25% 343,450 $6M $16.76 -$4M -301,136 -46.7%
80 MFC 0.25% 179,577 $6M $31.96 -$4M -119,046 -39.9%
81 SMH 0.25% 20,500 $6M $278.88 +20,500 NEW
82 CCL 0.24% 198,283 $6M $28.12 $2M +29,740 +17.6%
83 GENI 0.24% 529,514 $6M $10.40 $2M +174,417 +49.1%
84 CTSH 0.24% 70,316 $5M $78.03 $5M +67,662 +2549.4%
85 ABC 0.24% 18,219 $5M $299.85 +18,219 NEW
86 WCC 0.23% 29,226 $5M $185.20 $3M +14,146 +93.8%
87 HD 0.23% 14,641 $5M $366.64 -$6M -16,652 -53.2%
88 PCAPU 0.23% 500,000 $5M $10.72 +500,000 NEW
89 ABBV 0.23% 28,859 $5M $185.62 $4M +22,125 +328.6%
90 ECL 0.23% 19,865 $5M $269.44 $1M +4,521 +29.5%
91 OXY 0.23% 126,844 $5M $42.01 +126,844 NEW
92 MSCI 0.23% 9,161 $5M $576.74 -$295K -704 -7.1%
93 PH 0.23% 7,500 $5M $698.47 +7,500 NEW
94 GDX 0.23% 100,000 $5M $52.06 +100,000 NEW
95 URBN 0.22% 69,113 $5M $72.54 $683K -13,524 -16.4%
96 TALO 0.22% 588,200 $5M $8.48 $5M +561,939 +2139.8%
97 PSA 0.21% 16,902 $5M $293.42 $100K +665 +4.1%
98 MCHP 0.21% 70,432 $5M $70.37 +70,432 NEW
99 MTH 0.21% 73,675 $5M $66.97 $4M +65,921 +850.1%
100 GM 0.21% 99,513 $5M $49.21 $5M +94,864 +2040.5%

Options Breakdown

19 Calls $58M Call Value 36 Puts $3.2B Put Value 55.91 P/C Ratio

Top Calls

SymbolSharesValueStatus
GDX 440,000 $23M
PCT 853,400 $12M
GPRE 1,005,500 $6M NEW
QQQ 10,000 $6M
SLV 2,326,000 $5M
B 184,000 $4M NEW
EPD 75,000 $2M NEW
CRM 2,500 $682K NEW
U 500 $12K NEW
NVDA $0 SOLD

Top Puts

SymbolSharesValueStatus
MSTR 4,237,200 $1.7B
IWM 2,352,900 $508M
SPY 350,000 $216M
IBIT 2,507,600 $153M
QQQ 275,000 $152M NEW
FBTC 1,075,400 $101M NEW
TLT 650,000 $57M
BITO 2,499,900 $54M
PCT 3,475,800 $48M
MARA 2,731,000 $43M

New Positions

SymbolValue% Port
VTV $19M 0.84%
EEM $15M 0.67%
MNST $14M 0.59%
ADI $13M 0.58%
ACGL $10M 0.43%
BAC $9M 0.39%
ADP $8M 0.36%
AVGO $8M 0.35%
CMCSA $8M 0.33%
BRK-B $8M 0.33%
OEF $7M 0.31%
ETR $7M 0.31%
EMR $7M 0.31%
MET $7M 0.29%
CRM $7M 0.28%

Sold Out Positions

SymbolValue% Port
ABM —%
AHRT —%
MEC —%
ACN —%
ARCO —%
GLW —%
CB —%
DIS —%
ARES —%
ETD —%
OC —%
CDE —%
WY —%
UAA —%
CPS —%
View SEC EDGAR Filings for Graham Capital Management, L.P. →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms