13F value (AUM)
$13.5B
Brevan Howard Capital Management
BREVAN HOWARD CAPITAL MANAGEMENT LP
$13.5B
13F long value · 2026-Q2Positions2030
CategoryAsset Manager
Quarters tracked9
● #437 of 581 by 13F value
Size rank 3/10
16 NEW242 ADD328 2×+365 TRIM146 NEAR EXIT18 EXIT
Snapshot
Brevan Howard Capital Management's 13F portfolio at a glance — size, concentration and this quarter's activity.
Positions
2030 (135 unmapped)
Top 100 weight
68.2%
Quarters tracked
9
Latest 13F filed
Aug 14, 2026
New positions
16
Exits / near-exits
164
13F value by quarter
Total reported long value each quarter — fund flows plus market moves.
Top holdings — 2026-Q2
The fund's largest reported positions (PUT/CALL rows are option positions, reported separately). The 100 shown cover 68.2% of the portfolio.
| Ticker | Issuer | Weight | Value | Shares | Since 2026-Q2 |
|---|---|---|---|---|---|
| IVV | ISHARES TR | 6.7% | $898.2M | 1.2M | — |
| QQQ CALL | INVESCO QQQ TR | 3.6% | $491.3M | 667.2K | — |
| TLT PUT | ISHARES TR | 3.4% | $461.1M | 5.3M | — |
| HYG PUT | ISHARES TR | 3.0% | $399.9M | 5.0M | — |
| TLT CALL | ISHARES TR | 2.5% | $331.4M | 3.8M | — |
| LQD PUT | ISHARES TR | 2.3% | $305.9M | 2.8M | — |
| TSLA PUT | TESLA INC | 2.0% | $263.6M | 626.8K | — |
| KRE PUT | SPDR SERIES TRUST | 1.9% | $263.2M | 3.5M | — |
| TSLA CALL | TESLA INC | 1.9% | $253.8M | 603.4K | — |
| IBIT CALL | ISHARES BITCOIN TRUST ETF | 1.8% | $240.7M | 7.2M | — |
| LQD CALL | ISHARES TR | 1.8% | $240.0M | 2.2M | — |
| IBIT | ISHARES BITCOIN TRUST ETF | 1.8% | $239.9M | 7.2M | — |
| NVDA CALL | NVIDIA CORPORATION | 1.6% | $214.9M | 1.1M | — |
| AMZN CALL | AMAZON COM INC | 1.6% | $214.5M | 900.0K | — |
| IBIT PUT | ISHARES BITCOIN TRUST ETF | 1.3% | $175.6M | 5.3M | — |
Option positions — 2026-Q2
$2.8B across 44 put positions vs $3.5B across 72 call positions — put/call ratio 0.80. Values are notional — the market value of the shares the options reference.
| Type | Ticker | Issuer | Underlying shares | Notional value | % of 13F value |
|---|---|---|---|---|---|
| CALL | QQQ | INVESCO QQQ TR | 667.2K | $491.3M | 3.6% |
| PUT | TLT | ISHARES TR | 5.3M | $461.1M | 3.4% |
| PUT | HYG | ISHARES TR | 5.0M | $399.9M | 3.0% |
| CALL | TLT | ISHARES TR | 3.8M | $331.4M | 2.5% |
| PUT | LQD | ISHARES TR | 2.8M | $305.9M | 2.3% |
| PUT | TSLA | TESLA INC | 626.8K | $263.6M | 2.0% |
| PUT | KRE | SPDR SERIES TRUST | 3.5M | $263.2M | 1.9% |
| CALL | TSLA | TESLA INC | 603.4K | $253.8M | 1.9% |
| CALL | IBIT | ISHARES BITCOIN TRUST ETF | 7.2M | $240.7M | 1.8% |
| CALL | LQD | ISHARES TR | 2.2M | $240.0M | 1.8% |
Quarterly changes — 2026-Q2
What Brevan Howard Capital Management opened, added, trimmed and exited this quarter, largest dollar moves first.
| Action | Ticker | Issuer | Prev shares | Curr shares | Change | Value Δ |
|---|---|---|---|---|---|---|
| NEW | IVV | ISHARES TR | — | 1.2M | — | +$898.2M |
| NEAR EXIT | QQQ | INVESCO QQQ TR | 1.5M | 2.3K | -99.8% | -$853.7M |
| TRIM | IBIT | ISHARES BITCOIN TRUST ETF | 24.3M | 7.2M | -70.4% | -$693.9M |
| NEAR EXIT | HYG | ISHARES TR | 6.4M | 250.0K | -96.1% | -$490.8M |
| NEAR EXIT | TSLA | TESLA INC | 1.1M | 109.1K | -90.3% | -$371.9M |
| NEAR EXIT | NVDA | NVIDIA CORPORATION | 3.0M | 657.5K | -77.8% | -$371.8M |
| EXIT | PDD | PDD HOLDINGS INC | 180.5K | 0 | -100.0% | -$295.1M |
| EXIT | FXI | ISHARES TR | 6.0M | 0 | -100.0% | -$216.5M |
| EXIT | LQD | ISHARES TR | 2.0M | 0 | -100.0% | -$215.3M |
| NEAR EXIT | TLT | ISHARES TR | 2.8M | 323.8K | -88.2% | -$210.4M |
Conviction over time
Portfolio weight of the current top long holdings, quarter by quarter — rising weight = growing conviction.