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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
XLB icon
51
CALL
State Street Materials Select Sector SPDR ETF
XLB
$8.66B
$22.7M 0.25%
+500,000
New +$22.1M
XLB icon
52
PUT
State Street Materials Select Sector SPDR ETF
XLB
$8.66B
$22.7M 0.25%
+500,000
New +$22.1M
AMZN icon
53
Amazon
AMZN
$2.96T
$22.5M 0.25%
97,543
-30,998
-24% -$7.09M
LLY icon
54
CALL
Eli Lilly
LLY
$1.06T
$21.6M 0.24%
+20,000
New +$19.1M
XLU icon
55
CALL
State Street Utilities Select Sector SPDR ETF
XLU
$22.5B
$21.3M 0.23%
+500,000
New +$22.1M
EA
56
DELISTED
Electronic Arts
EA
$20.8M 0.23%
102,000
+66,587
+188% +$13.4M
AA icon
57
Alcoa
AA
$13.2B
$20.6M 0.22%
387,491
+331,036
+586% +$13.5M
FYBR
58
DELISTED
Frontier Communications
FYBR
$20M 0.22%
525,494
+7,017
+1% +$265K
LLY icon
59
Eli Lilly
LLY
$1.06T
$20M 0.22%
18,562
-1,999
-10% -$1.91M
BSX icon
60
Boston Scientific
BSX
$71.5B
$19.2M 0.21%
200,756
+126,912
+172% +$12.4M
TBBK icon
61
The Bancorp
TBBK
$2.84B
$17.5M 0.19%
259,460
+255,948
+7,288% +$17.7M
NSC icon
62
Norfolk Southern
NSC
$75.1B
$16.8M 0.18%
58,018
+42,605
+276% +$12.3M
SF
63
Stifel
SF
$12.6B
$16.3M 0.18%
195,218
+165,537
+558% +$13.2M
AMD icon
64
CALL
Advanced Micro Devices
AMD
$789B
$16M 0.18%
74,900
+6,025
+9% +$1.35M
REGN icon
65
Regeneron Pharmaceuticals
REGN
$80.8B
$15.4M 0.17%
19,985
+14,745
+281% +$10M
BMY icon
66
Bristol-Myers Squibb
BMY
$132B
$14.9M 0.16%
276,233
+203,575
+280% +$9.79M
PAM icon
67
Pampa Energía
PAM
$4.41B
$14.6M 0.16%
165,940
+64,387
+63% +$5.19M
GILD icon
68
Gilead Sciences
GILD
$165B
$14.1M 0.15%
114,639
+94,482
+469% +$11.5M
MRVL icon
69
Marvell Technology
MRVL
$196B
$14M 0.15%
164,807
+149,957
+1,010% +$13.1M
XOM icon
70
CALL
ExxonMobil
XOM
$634B
$14M 0.15%
116,000
+24,000
+26% +$2.78M
XOM icon
71
PUT
ExxonMobil
XOM
$634B
$14M 0.15%
116,000
+24,000
+26% +$2.78M
TLT icon
72
iShares 20+ Year Treasury Bond ETF
TLT
$41.7B
$13.9M 0.15%
+160,000
New +$14.3M
NB
73
NioCorp Developments
NB
$780M
$13.6M 0.15%
2,560,416
+1,109,874
+77% +$7.64M
QQQ icon
74
Invesco QQQ Trust
QQQ
$484B
$13.5M 0.15%
22,000
-2,875
-12% -$1.76M
BBIO icon
75
BridgeBio Pharma
BBIO
$16.5B
$13.2M 0.14%
173,523
+121,105
+231% +$7.95M
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.