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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
+17.14%
1 Year Est. Return
+35.84%
3 Year Est. Return
+106.49%
5 Year Est. Return
+80.14%
10 Year Est. Return
–
AUM
$277M
AUM Growth
+$96.9M
(+54%)
Cap. Flow
+$80.4M
Cap. Flow
% of AUM
29.02%
Top 10 Holdings %
Top 10 Hldgs %
80.93%
Holding
25
New
16
Increased
2
Reduced
1
Closed
5
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
YPF
YPF
|
+$18.5M |
| 2 |
Adecoagro
AGRO
|
+$10.8M |
| 3 |
Citizens Financial Group
CFG
|
+$8.09M |
| 4 |
Galicia Financial Group
GGAL
|
+$7.84M |
| 5 |
Ternium
TX
|
+$7.75M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$100M |
| 2 |
iShares MSCI All Country Asia ex Japan ETF
AAXJ
|
+$5.17M |
| 3 |
AGNC Investment
AGNC
|
+$4.37M |
| 4 |
iShares MSCI Mexico ETF
EWW
|
+$1.55M |
| 5 |
Radian Group
RDN
|
+$464K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 19.49% |
| 2 | Financials | 13.65% |
| 3 | Industrials | 6.29% |
| 4 | Consumer Staples | 4.59% |
| 5 | Materials | 2.9% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $49.1M | 17.73% |
+238,000
| New | +$49.1M |
|
|
2
YPF
YPF
$20.2B
| $47.1M | 17% |
1,716,555
+716,555
| +72% | +$18.5M |
|
3
PUT
iShares MSCI Emerging Markets ETF
EEM
$28B
| $28.6M | 10.34% |
+713,700
| New | +$28.4M |
|
4
CALL
WisdomTree Japan Hedged Equity Fund
DXJ
$7.23B
| $21.2M | 7.66% |
+385,000
| New | +$20.1M |
|
5
CALL
iShares MSCI Japan ETF
EWJ
$21.7B
| $17.4M | 6.27% |
+346,475
| New | +$16.6M |
|
|
6
iShares MSCI All Country Asia ex Japan ETF
AAXJ
$3.65B
| $15.5M | 5.58% |
241,738
-82,400
| -25% | -$5.17M |
|
7
iShares MSCI China ETF
MCHI
$6.04B
| $13.7M | 4.94% |
251,232
+75,370
| +43% | +$3.9M |
|
|
8
Adecoagro
AGRO
$1.53B
| $12.7M | 4.59% |
+1,243,757
| New | +$10.8M |
|
9
CME Group
CME
$92.2B
| $9.71M | 3.51% |
102,553
| – | – |
|
|
10
Galicia Financial Group
GGAL
$7.92B
| $9.2M | 3.32% |
+397,313
| New | +$7.84M |
|
11
Pampa Energía
PAM
$4.64B
| $8.15M | 2.94% |
+461,375
| New | +$6.07M |
|
|
12
Ternium
TX
$9.29B
| $8.04M | 2.9% |
+444,842
| New | +$7.75M |
|
|
13
Citizens Financial Group
CFG
$30.4B
| $7.96M | 2.87% |
+330,000
| New | +$8.09M |
|
|
PZE
14
DELISTED
Petrobras Argentina S A
PZE
| $6.88M | 2.48% |
+1,008,091
| New | +$5.64M |
|
|
CRESY
15
Cresud
CRESY
$794M
| $6.12M | 2.21% |
+499,103
| New | +$5.26M |
|
16
BBVA Argentina
BBAR
$3.85B
| $5.73M | 2.07% |
+280,639
| New | +$4.75M |
|
17
Aramark
ARMK
$15B
| $3.16M | 1.14% |
+138,500
| New | +$3.17M |
|
18
Banco Macro
BMA
$5.7B
| $2.95M | 1.07% |
+51,640
| New | +$2.56M |
|
19
NMI Holdings
NMIH
$3.25B
| $2.27M | 0.82% |
+303,367
| New | +$2.37M |
|
|
EDN
20
Edenor
EDN
$1.13B
| $1.57M | 0.57% |
+96,900
| New | +$1.21M |
|
|
21
AGNC Investment
AGNC
$12.3B
| – | – |
-200,000
| Closed | -$4.37M |
|
|
22
iShares MSCI Mexico ETF
EWW
$1.89B
| – | – |
-26,113
| Closed | -$1.55M |
|
|
23
Radian Group
RDN
$5.14B
| – | – |
-27,762
| Closed | -$464K |
|
|
24
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| – | – |
-484,950
| Closed | -$100M |
|
|
GG
25
CALL
DELISTED
Goldcorp Inc
GG
| – | – |
-540,000
| Closed | -$10M |
|
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Brevan Howard Capital Management's Q1 2015 Portfolio in Review
As of Q1 2015, Brevan Howard Capital Management held 25 positions worth $277M, up 54% from $180M the previous quarter. Its ten largest holdings account for 81% of the portfolio.
Brevan Howard Capital Management deployed $80.4M of net new capital in Q1 2015, opening 16 new positions and adding to 2 existing holdings. Its largest new stake was Adecoagro: 1,243,757 shares worth $12.7M.
By sector, the portfolio is most concentrated in Energy at 19% of assets, up from 15% a quarter earlier, followed by Financials and Industrials.
On the sell side, the largest reduction was iShares MSCI All Country Asia ex Japan ETF, an estimated $5.17M trimmed.
- Brevan Howard Capital Management's largest Q1 2015 buy was Adecoagro: 1,243,757 shares worth $12.7M.
- Brevan Howard Capital Management added most to YPF in Q1 2015, an estimated $18.5M increase.
- Brevan Howard Capital Management's biggest Q1 2015 reduction was iShares MSCI All Country Asia ex Japan ETF, cutting an estimated $5.17M.
- Brevan Howard Capital Management fully exited State Street SPDR S&P 500 ETF Trust in Q1 2015, selling an estimated $100M.
- Brevan Howard Capital Management's ten largest holdings make up 81% of its $277M portfolio in Q1 2015.
- Brevan Howard Capital Management opened 16 new positions and closed 5 in Q1 2015.
- Brevan Howard Capital Management's portfolio value rose 54% quarter-over-quarter to $277M.
Based on Brevan Howard Capital Management's 13F filing for Q1 2015, filed 15 May 2015.