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BHCM

Brevan Howard Capital Management Portfolio holdings

AUM $11.3B
1-Year Est. Return 35.84%
This Fund
S&P 500
This Quarter Est. Return
-2.49%
1 Year Est. Return
+35.84%
3 Year Est. Return
+106.49%
5 Year Est. Return
+80.14%
10 Year Est. Return
–
AUM
$207M
AUM Growth
-$80.3M
Cap. Flow
-$74.1M
Cap. Flow %
-35.75%
Top 10 Hldgs %
93.93%
Holding
29
New
6
Increased
3
Reduced
2
Closed
15

Top Buys

Rank Stock Value
1
PKW icon
Invesco BuyBack Achievers ETF
PKW
+$46.3M
2
XLF icon
State Street Financial Select Sector SPDR ETF
XLF
+$11.5M
3
RSX
VanEck Russia ETF
RSX
+$6.39M
4
EEM icon
iShares MSCI Emerging Markets ETF
EEM
+$5.88M
5
OEF icon
iShares S&P 100 ETF
OEF
+$5.04M

Top Sells

Rank Stock Value
1
FXI icon
iShares China Large-Cap ETF
FXI
+$71.1M
2
GLD icon
SPDR Gold Trust
GLD
+$47.3M
3
RIG icon
Transocean
RIG
+$5.36M
4
MOS icon
The Mosaic Company
MOS
+$5.05M
5
AGNC icon
AGNC Investment
AGNC
+$3.86M

Sector Composition

Rank Sector Weight
1 Financials 5.28%
2 Energy 0.55%
3 Industrials 0%
4 Materials 0%
5 Real Estate 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PKW icon
1
Invesco BuyBack Achievers ETF
PKW
$1.69B
$47.4M 22.84%
+1,088,200
New +$46.3M
SPY icon
2
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$778B
$37.4M 18.04%
+200,000
New +$36.7M
FXI icon
3
iShares China Large-Cap ETF
FXI
$4.31B
$23.7M 11.45%
663,432
-2,030,987
-75% -$71.1M
XRT icon
4
State Street SPDR S&P Retail ETF
XRT
$365M
$19.9M 9.58%
471,574
-33,900
-7% -$1.42M
EEM icon
5
iShares MSCI Emerging Markets ETF
EEM
$28B
$14.4M 6.92%
350,000
+150,000
+75% +$5.88M
GG
6
CALL
DELISTED
Goldcorp Inc
GG
$13.2M 6.37%
540,000
– –
EEM icon
7
PUT
iShares MSCI Emerging Markets ETF
EEM
$28B
$12.3M 5.93%
+300,000
New +$11.8M
XLF icon
8
State Street Financial Select Sector SPDR ETF
XLF
$55.6B
$11.8M 5.71%
+603,755
New +$11.5M
CME icon
9
CME Group
CME
$92.2B
$7.59M 3.66%
102,553
– –
RSX
10
DELISTED
VanEck Russia ETF
RSX
$7.11M 3.43%
296,500
+255,100
+616% +$6.39M
OEF icon
11
iShares S&P 100 ETF
OEF
$19.8B
$5.13M 2.48%
+62,000
New +$5.04M
RDN icon
12
Radian Group
RDN
$5.14B
$3.36M 1.62%
+223,676
New +$3.41M
MCHI icon
13
iShares MSCI China ETF
MCHI
$6.04B
$2.95M 1.42%
65,500
+56,800
+653% +$2.53M
PTR
14
DELISTED
PETROCHINA COMPANY LIMITED ADS (REP 100 H SHARES)
PTR
$1.15M 0.55%
10,560
– –
AGNC icon
15
AGNC Investment
AGNC
$12.3B
– –
-200,000
Closed -$3.86M
AMAT icon
16
PUT
Applied Materials
AMAT
$426B
– –
-544,700
Closed -$9.63M
CSX icon
17
CSX Corp
CSX
$98.6B
– –
-41,094
Closed -$394K
CSX icon
18
PUT
CSX Corp
CSX
$98.6B
– –
-961,800
Closed -$9.22M
FCX icon
19
CALL
Freeport-McMoran
FCX
$90B
– –
-190,500
Closed -$7.19M
FCX icon
20
PUT
Freeport-McMoran
FCX
$90B
– –
-190,500
Closed -$7.19M
GLD icon
21
SPDR Gold Trust
GLD
$131B
– –
-407,300
Closed -$47.3M
GLD icon
22
PUT
SPDR Gold Trust
GLD
$131B
– –
-80,000
Closed -$9.29M
JNJ icon
23
PUT
Johnson & Johnson
JNJ
$635B
– –
-80,000
Closed -$7.33M
MOS icon
24
The Mosaic Company
MOS
$7.09B
– –
-106,803
Closed -$5.05M
RIG icon
25
Transocean
RIG
$5.92B
– –
-108,523
Closed -$5.36M
1
2

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Brevan Howard Capital Management's Q1 2014 Portfolio in Review

As of Q1 2014, Brevan Howard Capital Management held 29 positions worth $207M, down 28% from $288M the previous quarter. Its ten largest holdings account for 94% of the portfolio.

Brevan Howard Capital Management withdrew a net $74.1M in Q1 2014, closing 15 positions and reducing 2 holdings. Its most notable exit was SPDR Gold Trust, an estimated $47.3M position sold in full.

By sector, the portfolio is most concentrated in Financials at 5.3% of assets, up from 2.8% a quarter earlier, followed by Energy and Industrials.

Against the trend, Brevan Howard Capital Management opened a new position in Invesco BuyBack Achievers ETF worth $47.4M.

  • Brevan Howard Capital Management's largest Q1 2014 buy was Invesco BuyBack Achievers ETF: 1,088,200 shares worth $47.4M.
  • Brevan Howard Capital Management added most to VanEck Russia ETF in Q1 2014, an estimated $6.39M increase.
  • Brevan Howard Capital Management's biggest Q1 2014 reduction was iShares China Large-Cap ETF, cutting an estimated $71.1M.
  • Brevan Howard Capital Management fully exited SPDR Gold Trust in Q1 2014, selling an estimated $47.3M.
  • Brevan Howard Capital Management's ten largest holdings make up 94% of its $207M portfolio in Q1 2014.
  • Brevan Howard Capital Management opened 6 new positions and closed 15 in Q1 2014.
  • Brevan Howard Capital Management's portfolio value fell 28% quarter-over-quarter to $207M.

Based on Brevan Howard Capital Management's 13F filing for Q1 2014, filed 15 May 2014.