Brevan Howard Capital Management LP
Long book
$9.70B
Q1 2026
Positions
1997
Top-10 weight
45%
concentration
Last quarter
+9.5%
SPY +14.8%
Turnover
50%
of book per quarter
Strategy in plain words
auto-generated from filingsBrevan Howard Capital Management LP is a mechanically diversified allocator, running a $9.70B US long book across 1997 positions.
The portfolio is moderately concentrated (top 10 ≈ 45% of the book). Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: ISHARES BITCOIN TRUST ETF, INVESCO QQQ TRUST SERIES 1, ISHR IBX USD HIYLD CB ETF-UI, NVIDIA CORP, TESLA INC.
Over the last 9 quarters its long book ran on average 1.5pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-1.5%
Q2 2024
+7.2%
Q3 2024
+3.3%
Q4 2024
-8.3%
Q1 2025
+16.1%
Q2 2025
+8.1%
Q3 2025
-6.2%
Q4 2025
-1.5%
Q1 2026
+9.5%
Sector allocation
Technology 29%
Industrials 20%
Financials 16%
Services media 6%
Healthcare 6%
Consumer discretionary 5%
Materials 4%
Other 4%
Long book by quarter
What does Brevan Howard own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | Technology | 3.0M | $503.4M | 5.2% | +487.2% |
| TSLA TESLA INC | Industrials | 1.1M | $417.8M | 4.3% | +719.4% |
| META META PLATFORMS INC-CLASS A | Technology | 208.8K | $115.3M | 1.2% | +10736.6% |
| PLTR PALANTIR TECHNOLOGIES INC-A | Technology | 791.2K | $112.0M | 1.2% | +1644.6% |
| BA BOEING CO/THE | Industrials | 511.0K | $101.7M | 1.0% | +9206.5% |
| SNDK SANDISK CORP | Technology | 131.6K | $83.6M | 0.9% | +6.6% |
| UBER UBER TECHNOLOGIES INC | Services media | 1.1M | $78.6M | 0.8% | +1763.8% |
| NFLX NETFLIX INC | Services media | 811.5K | $76.6M | 0.8% | +621.0% |
| MU MICRON TECHNOLOGY INC | Technology | 222.5K | $75.2M | 0.8% | +1278.2% |
| SCHW SCHWAB (CHARLES) CORP | Financials | 781.7K | $72.3M | 0.7% | +24698.7% |
| GM GENERAL MOTORS CO | Industrials | 910.2K | $67.8M | 0.7% | +22317.9% |
| MSFT MICROSOFT CORP | Technology | 1.6M | $57.8M | 0.6% | +17070.1% |
| CRWD CROWDSTRIKE HOLDINGS INC - A | Technology | 143.8K | $56.2M | 0.6% | New |
| ORCL ORACLE CORP | Technology | 317.2K | $46.7M | 0.5% | +25.8% |
| COIN COINBASE GLOBAL INC -CLASS A | Financials | 253.7K | $42.0M | 0.4% | +1894.1% |
| COP CONOCOPHILLIPS | Energy | 306.0K | $40.4M | 0.4% | New |
| AAPL APPLE INC | Technology | 151.6K | $38.5M | 0.4% | -44.7% |
| PPTA PERPETUA RESOURCES CORP | Materials | 1.2M | $32.9M | 0.3% | +148.9% |
| CME CME GROUP INC | Financials | 102.7K | $30.3M | 0.3% | -8.3% |
| MTZ MASTEC INC | Industrials | 94.7K | $29.5M | 0.3% | +994.6% |
| FTI TECHNIPFMC PLC | Industrials | 417.7K | $28.9M | 0.3% | New |
| MCD MCDONALD'S CORP | Consumer discretionary | 92.7K | $28.6M | 0.3% | +7699.8% |
| NB NIOCORP DEVELOPMENTS LTD | Materials | 6.5M | $28.0M | 0.3% | +153.3% |
| CMCSA COMCAST CORP-CLASS A | Communications | 942.4K | $27.1M | 0.3% | +558.9% |
| EA ELECTRONIC ARTS INC | Technology | 128.5K | $26.2M | 0.3% | +26.0% |
| DIS WALT DISNEY CO/THE | Services media | 254.3K | $24.0M | 0.2% | +6567.0% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 23.5K | $23.4M | 0.2% | +237.4% |
| GOOGL ALPHABET INC-CL A | Technology | 81.0K | $23.3M | 0.2% | -85.3% |
| XOM EXXON MOBIL CORP | Energy | 119.5K | $20.3M | 0.2% | +348.8% |
| CVX CHEVRON CORP | Energy | 97.2K | $20.1M | 0.2% | +5141.9% |
| FANG DIAMONDBACK ENERGY INC | Energy | 100.2K | $19.8M | 0.2% | +3989.5% |
| LNG CHENIERE ENERGY INC | Utilities | 65.3K | $18.5M | 0.2% | +579.3% |
| TMUS T-MOBILE US INC | Communications | 87.6K | $18.4M | 0.2% | +1580.1% |
| WMT WALMART INC | Consumer discretionary | 144.5K | $18.0M | 0.2% | -83.5% |
| CCJ CAMECO CORP | Materials | 162.5K | $17.7M | 0.2% | +68.9% |
| CVBF CVB FINANCIAL CORP | Financials | 895.4K | $17.4M | 0.2% | +198.5% |
| CSCO CISCO SYSTEMS INC | Technology | 221.1K | $17.2M | 0.2% | +96.6% |
| XPO XPO INC | Industrials | 85.6K | $16.7M | 0.2% | New |
| NSC NORFOLK SOUTHERN CORP | Industrials | 58.6K | $16.6M | 0.2% | +0.9% |
| SF STIFEL FINANCIAL CORP | Financials | 221.3K | $16.4M | 0.2% | +70.1% |
| MRVL MARVELL TECHNOLOGY INC | Technology | 164.7K | $16.3M | 0.2% | 0.0% |
| ABBV ABBVIE INC | Healthcare | 73.6K | $16.0M | 0.2% | New |
| FCX FREEPORT-MCMORAN INC | Materials | 268.5K | $15.8M | 0.2% | +166.4% |
| LLY ELI LILLY & CO | Healthcare | 17.1K | $15.7M | 0.2% | -7.8% |
| SPOT SPOTIFY TECHNOLOGY SA | Communications | 32.4K | $15.5M | 0.2% | New |
| C CITIGROUP INC | Financials | 140.4K | $15.4M | 0.2% | -50.9% |
| AMZN AMAZON.COM INC | Consumer discretionary | 73.6K | $15.3M | 0.2% | -24.5% |
| ENVA ENOVA INTERNATIONAL INC | Financials | 109.8K | $14.9M | 0.2% | +2095.9% |
| GOOG ALPHABET INC-CL C | Technology | 51.6K | $14.8M | 0.2% | -89.3% |
| KVUE KENVUE INC | Other | 841.2K | $14.5M | 0.1% | +743.2% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 2477 | $11.31B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 1878 | $9.16B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 2007 | $22.40B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 1894 | $17.27B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 1752 | $10.39B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 1263 | $15.55B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 1179 | $14.37B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 1022 | $11.19B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 987 | $11.10B | canonical | SEC ↗ |
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