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Brevan Howard Capital Management Portfolio holdings

AUM $11.3B
1-Year Est. Return 35.84%
This Fund
S&P 500
This Quarter Est. Return
+6.05%
1 Year Est. Return
+35.84%
3 Year Est. Return
+106.49%
5 Year Est. Return
+80.14%
10 Year Est. Return
–
AUM
$9.16B
AUM Growth
-$13.2B
Cap. Flow
-$10.8B
Cap. Flow %
-117.92%
Top 10 Hldgs %
34.38%
Holding
2,371
New
451
Increased
532
Reduced
695
Closed
657

Top Buys

Rank Stock Value
1
FTKI
First Trust Small Cap BuyWrite Income ETF
FTKI
+$1.07B
2
IVV icon
iShares Core S&P 500 ETF
IVV
+$111M
3
WMT icon
Walmart Inc
WMT
+$84M
4
ORCL icon
Oracle
ORCL
+$58.3M
5
AVGO icon
Broadcom
AVGO
+$57.4M

Top Sells

Rank Stock Value
1
IBIT icon
iShares Bitcoin Trust
IBIT
+$1.77B
2
MSFT icon
Microsoft
MSFT
+$184M
3
META icon
Meta Platforms (Facebook)
META
+$128M
4
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$68.8M
5
FIX icon
Comfort Systems
FIX
+$42.8M

Sector Composition

Rank Sector Weight
1 Technology 8.09%
2 Financials 7.11%
3 Healthcare 5.24%
4 Communication Services 5.21%
5 Consumer Discretionary 4.41%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AGNC icon
26
PUT
AGNC Investment
AGNC
$12.9B
$59.2M 0.65%
5,500,000
+3,500,000
+175% +$36M
BIDU icon
27
CALL
Baidu
BIDU
$37.2B
$57.8M 0.63%
445,800
-2,047,300
-82% -$254M
XLU icon
28
PUT
State Street Utilities Select Sector SPDR ETF
XLU
$22.5B
$55.5M 0.61%
+1,300,000
New +$57.6M
BABA icon
29
Alibaba
BABA
$308B
$55.3M 0.6%
379,350
+265,245
+232% +$43.2M
ASHR icon
30
CALL
Xtrackers Harvest CSI 300 China A-Shares ETF
ASHR
$1.6B
$51.7M 0.56%
1,575,000
-10,425,000
-87% -$342M
ORCL icon
31
Oracle
ORCL
$423B
$49.4M 0.54%
252,175
+244,883
+3,358% +$58.3M
NEM icon
32
Newmont
NEM
$119B
$40.4M 0.44%
404,407
-19,196
-5% -$1.73M
HYG icon
33
CALL
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.6B
$40.3M 0.44%
+500,000
New +$40.3M
WU icon
34
CALL
Western Union
WU
$2.21B
$40.1M 0.44%
+4,311,200
New +$38.1M
BAC icon
35
Bank of America
BAC
$442B
$39.2M 0.43%
712,959
+354,090
+99% +$18.7M
BABA icon
36
CALL
Alibaba
BABA
$308B
$36.2M 0.4%
248,200
-106,800
-30% -$17.4M
JPM icon
37
JPMorgan Chase
JPM
$950B
$35.8M 0.39%
111,236
-8,557
-7% -$2.65M
LQD icon
38
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$33B
$34.7M 0.38%
+315,000
New +$35M
COHR icon
39
Coherent
COHR
$74.2B
$34M 0.37%
184,303
+143,355
+350% +$21.4M
C icon
40
Citigroup
C
$226B
$33.4M 0.36%
285,999
-16,031
-5% -$1.66M
CME icon
41
CME Group
CME
$94.8B
$30.6M 0.33%
111,950
+6,370
+6% +$1.73M
ORCL icon
42
CALL
Oracle
ORCL
$423B
$29.4M 0.32%
+150,000
New +$35.7M
SNDK
43
Sandisk
SNDK
$177B
$29.3M 0.32%
123,362
+121,353
+6,040% +$24.3M
SNOW icon
44
PUT
Snowflake
SNOW
$115B
$28.8M 0.31%
131,300
-2,700
-2% -$659K
XLK icon
45
PUT
State Street Technology Select Sector SPDR ETF
XLK
$124B
$28.8M 0.31%
+200,000
New +$28.9M
IWM icon
46
CALL
iShares Russell 2000 ETF
IWM
$83B
$28.6M 0.31%
116,000
-184,000
-61% -$45.2M
CMCSA icon
47
CALL
Comcast
CMCSA
$90B
$26.9M 0.29%
+900,000
New +$25.7M
LITE icon
48
Lumentum
LITE
$69.3B
$24.8M 0.27%
67,356
+65,358
+3,271% +$16.8M
KBE icon
49
CALL
State Street SPDR S&P Bank ETF
KBE
$1.66B
$24.3M 0.27%
+400,000
New +$23.6M
GDX icon
50
VanEck Gold Miners ETF
GDX
$27.4B
$23.7M 0.26%
272,053
+12,332
+5% +$974K
1
2
3 4 5

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Brevan Howard Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Brevan Howard Capital Management held 2,371 positions worth $9.16B, down 59% from $22.4B the previous quarter. Its ten largest holdings account for 34% of the portfolio.

Brevan Howard Capital Management withdrew a net $10.8B in Q4 2025, closing 657 positions and reducing 695 holdings. Its most notable exit was Insmed, an estimated $42.3M position sold in full.

By sector, the portfolio is most concentrated in Technology at 8.1% of assets, up from 4.4% a quarter earlier, followed by Financials and Healthcare.

Against the trend, Brevan Howard Capital Management opened a new position in First Trust Small Cap BuyWrite Income ETF worth $452M.

  • Brevan Howard Capital Management's largest Q4 2025 buy was First Trust Small Cap BuyWrite Income ETF: 57,081,120 shares worth $452M.
  • Brevan Howard Capital Management added most to Walmart Inc in Q4 2025, an estimated $84M increase.
  • Brevan Howard Capital Management's biggest Q4 2025 reduction was iShares Bitcoin Trust, cutting an estimated $1.77B.
  • Brevan Howard Capital Management fully exited Insmed in Q4 2025, selling an estimated $42.3M.
  • Brevan Howard Capital Management's ten largest holdings make up 34% of its $9.16B portfolio in Q4 2025.
  • Brevan Howard Capital Management opened 451 new positions and closed 657 in Q4 2025.
  • Brevan Howard Capital Management's portfolio value fell 59% quarter-over-quarter to $9.16B.

Based on Brevan Howard Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.