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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
+21.08%
1 Year Est. Return
+35.84%
3 Year Est. Return
+106.49%
5 Year Est. Return
+80.14%
10 Year Est. Return
–
AUM
$198M
AUM Growth
-$314K
(-0.16%)
Cap. Flow
-$28.2M
Cap. Flow
% of AUM
-14.25%
Top 10 Holdings %
Top 10 Hldgs %
99.46%
Holding
19
New
–
Increased
5
Reduced
3
Closed
7
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
YPF
YPF
|
+$34.2M |
| 2 |
Ternium
TX
|
+$9.56M |
| 3 |
CRESY
Cresud
CRESY
|
+$3.28M |
| 4 |
Adecoagro
AGRO
|
+$2.59M |
| 5 |
Pampa Energía
PAM
|
+$395K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Galicia Financial Group
GGAL
|
+$21M |
| 2 |
State Street Materials Select Sector SPDR ETF
XLB
|
+$10.2M |
| 3 |
State Street Industrial Select Sector SPDR ETF
XLI
|
+$10.1M |
| 4 |
State Street Energy Select Sector SPDR ETF
XLE
|
+$10.1M |
| 5 |
BBVA Argentina
BBAR
|
+$7.89M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 38.08% |
| 2 | Industrials | 24.91% |
| 3 | Consumer Staples | 18.14% |
| 4 | Materials | 9.15% |
| 5 | Financials | 8.32% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
YPF
YPF
$20.2B
| $65.9M | 33.27% |
4,192,000
+1,872,667
| +81% | +$34.2M |
|
|
2
Adecoagro
AGRO
$1.53B
| $35.9M | 18.14% |
2,923,298
+245,733
| +9% | +$2.59M |
|
|
3
Pampa Energía
PAM
$4.64B
| $31.9M | 16.09% |
1,550,626
+18,876
| +1% | +$395K |
|
|
4
Ternium
TX
$9.29B
| $18.1M | 9.15% |
1,457,689
+685,247
| +89% | +$9.56M |
|
|
CRESY
5
Cresud
CRESY
$794M
| $17.5M | 8.82% |
1,521,185
+313,782
| +26% | +$3.28M |
|
6
CME Group
CME
$92.2B
| $9.29M | 4.69% |
102,553
| – | – |
|
|
PZE
7
DELISTED
Petrobras Argentina S A
PZE
| $7.55M | 3.81% |
1,363,091
| – | – |
|
|
8
Galicia Financial Group
GGAL
$7.92B
| $6.37M | 3.22% |
235,161
-872,307
| -79% | -$21M |
|
|
IRS
9
IRSA Inversiones y Representaciones
IRS
$1.26B
| $2.54M | 1.28% |
214,261
-116,281
| -35% | -$1.69M |
|
|
ESES
10
DELISTED
Eco-Stim Energy Solutions Inc. Common Stock
ESES
| $1.98M | 1% |
631,578
| – | – |
|
|
ONIT
11
Onity Group
ONIT
$333M
| $829K | 0.42% |
7,928
| – | – |
|
|
EDN
12
Edenor
EDN
$1.13B
| $234K | 0.12% |
13,332
-354,564
| -96% | -$5.79M |
|
|
13
BBVA Argentina
BBAR
$3.85B
| – | – |
-509,039
| Closed | -$7.89M |
|
14
Banco Macro
BMA
$5.7B
| – | – |
-111,140
| Closed | -$4.27M |
|
15
SPDR Gold Trust
GLD
$131B
| – | – |
-50,000
| Closed | -$5.34M |
|
16
NMI Holdings
NMIH
$3.25B
| – | – |
-257,267
| Closed | -$1.96M |
|
|
17
State Street Materials Select Sector SPDR ETF
XLB
$8.51B
| – | – |
-509,750
| Closed | -$10.2M |
|
|
18
State Street Energy Select Sector SPDR ETF
XLE
$39.5B
| – | – |
-329,046
| Closed | -$10.1M |
|
|
19
State Street Industrial Select Sector SPDR ETF
XLI
$33.9B
| – | – |
-203,190
| Closed | -$10.1M |
|
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Brevan Howard Capital Management's Q4 2015 Portfolio in Review
As of Q4 2015, Brevan Howard Capital Management held 19 positions worth $198M, down 0.16% from $198M the previous quarter. Its ten largest holdings account for 99% of the portfolio.
Brevan Howard Capital Management withdrew a net $28.2M in Q4 2015, closing 7 positions and reducing 3 holdings. Its most notable exit was State Street Materials Select Sector SPDR ETF, an estimated $10.2M position sold in full.
By sector, the portfolio is most concentrated in Energy at 38% of assets, up from 22% a quarter earlier, followed by Industrials and Consumer Staples.
Against the trend, Brevan Howard Capital Management added an estimated $34.2M to YPF.
- Brevan Howard Capital Management added most to YPF in Q4 2015, an estimated $34.2M increase.
- Brevan Howard Capital Management's biggest Q4 2015 reduction was Galicia Financial Group, cutting an estimated $21M.
- Brevan Howard Capital Management fully exited State Street Materials Select Sector SPDR ETF in Q4 2015, selling an estimated $10.2M.
- Brevan Howard Capital Management's ten largest holdings make up 99% of its $198M portfolio in Q4 2015.
- Brevan Howard Capital Management opened 0 new positions and closed 7 in Q4 2015.
- Brevan Howard Capital Management's portfolio value fell 0.16% quarter-over-quarter to $198M.
Based on Brevan Howard Capital Management's 13F filing for Q4 2015, filed 16 Feb 2016.