Institutional Manager · CIK 0001512857
Brevan Howard Capital Management LP
ST. HELIER, Y9 · File #028-14379
Latest AUM
$9.16B
Positions
1,878
Top-10 Concentration
52.8%
Filings
9
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| REDUCE | ISHARES BITCOIN TRUST ETF | IBIT | -36,543,703 | -$1.81B | -$561.6M |
| REDUCE | PDD HOLDINGS INC | PDD | -320,500 | -$581.5M | -$127.5M |
| REDUCE | ISHARES TR | 464288513 | -5,208,600 | -$420.0M | -$4.8M |
| REDUCE | ISHARES TR | 464287242 | -2,185,000 | -$240.8M | -$3.2M |
| EXITED | ISHARES TR | 464287184 | -4,000,000 | -$164.6M | $0 |
| REDUCE | ALPHABET INC | GOOG | -450,552 | -$141.0M | +$38.0M |
| NEW | ISHARES TR | 464287200 | +162,970 | +$112.0M | $0 |
| REDUCE | MICROSOFT CORP | MSFT | -223,833 | -$108.3M | -$7.7M |
| REDUCE | APPLE INC | AAPL | -384,334 | -$104.5M | +$6.7M |
| REDUCE | ISHARES TR | 464287432 | -840,000 | -$73.2M | -$2.2M |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 20251,878 pos · $9.16B
- 13F HOLDINGS REPORTQ/E Sep 20252,007 pos · $22.40B
- 13F HOLDINGS REPORTQ/E Jun 20251,894 pos · $17.27B
- 13F HOLDINGS REPORTQ/E Mar 20251,752 pos · $10.39B
- 13F HOLDINGS REPORTQ/E Dec 20241,263 pos · $15.55B
- 13F HOLDINGS REPORTQ/E Sep 20241,179 pos · $14.37B
- 13F HOLDINGS REPORTQ/E Jun 20241,022 pos · $11.19B
- 13F HOLDINGS REPORTQ/E Mar 2024987 pos · $11.10B
- 13F HOLDINGS REPORTQ/E Dec 2023403 pos · $7.76B
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | ISHARES BITCOIN TRUST ETF | IBIT | 8,058,800 | $400.1M | 7.46% |
| 2 | ISHARES TR | 464287242 | 3,000,000 | $330.6M | 6.16% |
| 3 | NVIDIA CORPORATION | NVDA | 1,768,000 | $329.7M | 6.14% |
| 4 | FIRST TR EXCHANGE TRADED FD | 33738R589 | 45,604,629 | $307.6M | 5.73% |
| 5 | ISHARES TR | 464287242 | 2,600,000 | $286.5M | 5.34% |
| 6 | ISHARES TR | 464288513 | 3,403,200 | $274.4M | 5.11% |
| 7 | ISHARES BITCOIN TRUST ETF | IBIT | 5,508,847 | $273.5M | 5.10% |
| 8 | ISHARES BITCOIN TRUST ETF | IBIT | 5,000,000 | $248.3M | 4.63% |
| 9 | INVESCO QQQ TR | IVZ | 328,000 | $201.5M | 3.75% |
| 10 | PDD HOLDINGS INC | PDD | 101,000 | $183.2M | 3.41% |
| 11 | PDD HOLDINGS INC | PDD | 96,000 | $174.2M | 3.25% |
| 12 | ALPHABET INC | GOOG | 457,379 | $143.2M | 2.67% |
| 13 | FIRST TR EXCHANGE TRADED FD | 33738R589 | 6,391,643 | $135.6M | 2.53% |
| 14 | BANK AMERICA CORP | 060505104 | 2,350,000 | $129.3M | 2.41% |
| 15 | ISHARES TR | 464287200 | 162,970 | $112.0M | 2.09% |
| 16 | ALPHABET INC | GOOG | 349,500 | $109.7M | 2.04% |
| 17 | WALMART INC | WMT | 855,148 | $95.3M | 1.78% |
| 18 | ALIBABA GROUP HLDG LTD | BBAAY | 600,000 | $87.5M | 1.63% |
| 19 | ISHARES TR | 464287432 | 1,000,000 | $87.2M | 1.62% |
| 20 | ISHARES TR | 464287432 | 1,000,000 | $87.2M | 1.62% |