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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
-1.08%
1 Year Est. Return
+35.84%
3 Year Est. Return
+106.49%
5 Year Est. Return
+80.14%
10 Year Est. Return
–
AUM
$180M
AUM Growth
-$107M
Cap. Flow
-$104M
Cap. Flow %
-57.61%
Top 10 Hldgs %
100%
Holding
18
New
5
Increased
1
Reduced
1
Closed
9

Top Buys

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$97.5M
2
YPF icon
YPF
YPF
+$30.9M
3
AAXJ icon
iShares MSCI All Country Asia ex Japan ETF
AAXJ
+$19.9M
4
AGNC icon
AGNC Investment
AGNC
+$4.51M
5
MCHI icon
iShares MSCI China ETF
MCHI
+$3.59M

Top Sells

Rank Stock Value
1
FXI icon
iShares China Large-Cap ETF
FXI
+$91.1M
2
GLD icon
SPDR Gold Trust
GLD
+$59M
3
VXX
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
+$33.8M
4
KRE icon
State Street SPDR S&P Regional Banking ETF
KRE
+$14.8M
5
EEM icon
iShares MSCI Emerging Markets ETF
EEM
+$13.9M

Sector Composition

Rank Sector Weight
1 Energy 14.69%
2 Financials 5.3%
3 Real Estate 2.42%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
State Street SPDR S&P 500 ETF Trust
SPY
$778B
$99.7M 55.31%
+484,950
New +$97.5M
YPF icon
2
YPF
YPF
$20.2B
$26.5M 14.69%
+1,000,000
New +$30.9M
AAXJ icon
3
iShares MSCI All Country Asia ex Japan ETF
AAXJ
$3.65B
$19.8M 10.96%
+324,138
New +$19.9M
GG
4
CALL
DELISTED
Goldcorp Inc
GG
$10M 5.55%
540,000
– –
CME icon
5
CME Group
CME
$92.2B
$9.09M 5.04%
102,553
– –
MCHI icon
6
iShares MSCI China ETF
MCHI
$6.04B
$8.83M 4.9%
175,862
+73,862
+72% +$3.59M
AGNC icon
7
AGNC Investment
AGNC
$12.3B
$4.37M 2.42%
+200,000
New +$4.51M
EWW icon
8
iShares MSCI Mexico ETF
EWW
$1.89B
$1.55M 0.86%
+26,113
New +$1.68M
RDN icon
9
Radian Group
RDN
$5.14B
$464K 0.26%
27,762
-126,834
-82% -$2.05M
EEM icon
10
CALL
iShares MSCI Emerging Markets ETF
EEM
$28B
– –
-183,000
Closed -$7.61M
EEM icon
11
iShares MSCI Emerging Markets ETF
EEM
$28B
– –
-334,000
Closed -$13.9M
EEM icon
12
PUT
iShares MSCI Emerging Markets ETF
EEM
$28B
– –
-451,000
Closed -$18.7M
FXI icon
13
iShares China Large-Cap ETF
FXI
$4.31B
– –
-2,379,222
Closed -$91.1M
GLD icon
14
SPDR Gold Trust
GLD
$131B
– –
-507,412
Closed -$59M
KRE icon
15
State Street SPDR S&P Regional Banking ETF
KRE
$4.86B
– –
-390,000
Closed -$14.8M
XLK icon
16
State Street Technology Select Sector SPDR ETF
XLK
$115B
– –
-500,000
Closed -$9.97M
VXX
17
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
– –
-67,757
Closed -$33.8M
VXX
18
PUT
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
– –
-22,188
Closed -$11.1M

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ERSOT
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Brevan Howard Capital Management's Q4 2014 Portfolio in Review

As of Q4 2014, Brevan Howard Capital Management held 18 positions worth $180M, down 37% from $288M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Brevan Howard Capital Management withdrew a net $104M in Q4 2014, closing 9 positions and reducing 1 holding. Its most notable exit was iShares China Large-Cap ETF, an estimated $91.1M position sold in full.

By sector, the portfolio is most concentrated in Energy at 15% of assets, followed by Financials and Real Estate.

Against the trend, Brevan Howard Capital Management opened a new position in State Street SPDR S&P 500 ETF Trust worth $99.7M.

  • Brevan Howard Capital Management's largest Q4 2014 buy was State Street SPDR S&P 500 ETF Trust: 484,950 shares worth $99.7M.
  • Brevan Howard Capital Management added most to iShares MSCI China ETF in Q4 2014, an estimated $3.59M increase.
  • Brevan Howard Capital Management's biggest Q4 2014 reduction was Radian Group, cutting an estimated $2.05M.
  • Brevan Howard Capital Management fully exited iShares China Large-Cap ETF in Q4 2014, selling an estimated $91.1M.
  • Brevan Howard Capital Management's ten largest holdings make up 100% of its $180M portfolio in Q4 2014.
  • Brevan Howard Capital Management opened 5 new positions and closed 9 in Q4 2014.
  • Brevan Howard Capital Management's portfolio value fell 37% quarter-over-quarter to $180M.

Based on Brevan Howard Capital Management's 13F filing for Q4 2014, filed 17 Feb 2015.