13F Insight
DOSSIER · 13F-HR · Q1 2026

Brevan Howard Capital Management LP

$11.3B in tracked AUM across 2,477 positions as of Q1 2026.

BH
CIK 0001512857 · last filed Mar 31, 2026
Total AUM
$11.3B
as of Q1 2026
Holdings
2,477
—
positions
Whale Score
60
60
tracked
Activity
—
no data
changes this Q
AI Analysis · Q1 2026
Comprehensive Analysis of Brevan Howard Capital Management LP (SEC 13F - Q2 2025)
Portfolio Overview

Brevan Howard Capital Management LP reported a substantial expansion in its disclosed 13F portfolio for the quarter ending June 30, 2025. The total portfolio value surged by 312.2%, rising from $4.19 billion in the previous quarter to $17.27 billion. This dramatic increase in AUM (Assets Under Management) suggests significant capital inflows into the fund's strategies or a major shi...

The portfolio is highly diversified, comprising 1,894 holdings. Despite the high number of positions, the portfolio exhibits a "barbell" structure where the top 10 holdings command a significant portion of the capital, while the tail consists of numerous smaller positions. The fund appears to have pivoted from a more concentrated strategy to a broad, multi-asset approach involving heavy utilization of ETFs and large-cap equities.

Key Holdings

The composition of the top 50 holdings reveals a distinct preference for liquidity and thematic exposure. The largest single position is the iShares Bitcoin Trust (IBIT), valued at $2.32 billion and representing 13.43% of the portfolio. This massive allocation indicates a strong conviction in digital assets as a distinct asset class.

Quarter at a glance — Q1 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q1 2026.

#HoldingValueSharesWeight
01
IBIT
ISHARES BITCOIN TRUST ETF
$934M24.3M8.3%02
QQQ
INVESCO QQQ TR
$855M1.5M7.6%03
HYG
ISHARES TR
$710M8.9M6.3%04
TLT
ISHARES TR
$520M6.0M4.6%05
LQD
ISHARES TR
$515M4.7M4.6%06
NVDA
NVIDIA CORPORATION
$503M3.0M4.5%07
TSLA
TESLA INC
$418M1.1M3.7%08
PDD
PDD HOLDINGS INC
$295M181K2.6%09
FXI
ISHARES TR
$216M6.0M1.9%10
GLD
SPDR GOLD TR
$184M428K1.6%

Filing history

2026Q1Mar 31
$11.3B▲ 23.5%
2,477 positionsView →2025Q4Dec 31
$9.2B▼ 59.1%
1,878 positionsView →2025Q3Sep 30
$22.4B▲ 29.7%
2,007 positionsView →2025Q2Jun 30
$17.3B▲ 312.2%
1,894 positionsLocked2025Q1Mar 31
$4.2B▼ 73.1%
861 positionsLocked2024Q4Dec 31
$15.6B▲ 8.3%
1,263 positionsLocked2024Q3Sep 30
$14.4B▲ 28.4%
1,179 positionsLocked2024Q2Jun 30
$11.2B▲ 0.8%
1,022 positionsLocked2024Q1Mar 31
$11.1B▲ 35.6%
987 positionsLocked2023Q4Dec 31
$8.2B▲ 5.4%
1,030 positionsLocked2023Q3Sep 30
$7.8B▲ 62.0%
403 positionsLocked2023Q2Jun 30
$4.8B▲ 25.7%
209 positionsLocked
Showing 12 of 49