Funds › Brevan Howard Capital Management LP › Q2 2023Brevan Howard Capital Management LP 13F holdings, Q2 2023 Brevan Howard Capital Management LP disclosed 153 US equity positions worth $544.1m in its Q2 2023 13F filing. Its largest position is TLT at 15.9% of the reported book, followed by EMB and EWZ. Versus Q1 2023 it opened 85 new positions, added to 21, reduced 16 and exited 23.
$544m Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
153 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
15.9% Largest position The largest single position as a share of the reported equity book.
61.7% Top 10 weight The ten largest positions together, as a share of the reported equity book.
16 Effective positions 1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
40 Quarters on file since Q3 2013 Quarters for which this manager's 13F holdings are on record. Holdings Against Q1 2023: 85 new , 21 added , 16 reduced , 23 exited
50 of 153 Show all 153
Stock Sector Weight Value Shares Δ shares Action TLT ISHARES TR – 15.9% $86.8m 842,930 +69% added EMB ISHARES TR – 11.7% $63.5m 734,035 +4.1% added EWZ ISHARES INC – 10.8% $58.5m 1.80m – new EEM ISHARES TR – 4.7% $25.3m 640,000 – new URA GLOBAL X FDS – 3.8% $20.5m 945,000 −1.5% reduced MRNA MODERNA INC Healthcare 3.5% $19.1m 157,000 −40% reduced CME CME GROUP INC Financial Services 3.5% $19.0m 102,553 0.0% held NIO INC no ticker – 3.0% $16.4m 17.80m +58% added PINDUODUO INC no ticker – 2.6% $14.1m 14.70m +26% added TIP ISHARES TR – 2.3% $12.7m 117,600 – new VNET GROUP INC no ticker – 2.2% $11.8m 14.81m +26% added IOVA IOVANCE BIOTHERAPEUTICS INC Healthcare 1.9% $10.4m 1.48m +177% added BILIBILI INC no ticker – 1.2% $6.8m 9.00m +64% added 0C3 ENDEAVOR GROUP HLDGS INC – 1.1% $6.2m 260,000 +86% added WWEUSD WORLD WRESTLING ENTMT INC – 1.1% $6.0m 55,000 – new VMWEUR VMWARE INC – 1.1% $5.9m 41,156 0.0% held ORCL ORACLE CORP Technology 1.1% $5.7m 48,000 – new TRTX TPG RE FIN TR INC Real Estate 1.0% $5.2m 704,738 0.0% held ATVIEUR ACTIVISION BLIZZARD INC – 1.0% $5.2m 61,543 0.0% held MSFT MICROSOFT CORP Technology 0.9% $5.2m 15,158 −41% reduced SPY SPDR S&P 500 ETF Trust – 0.9% $4.7m 10,642 – new HORIZON THERAPEUTICS PUB L no ticker – 0.9% $4.6m 45,000 0.0% held NOW SERVICENOW INC Technology 0.8% $4.3m 7,700 −44% reduced WDAY WORKDAY INC Technology 0.8% $4.3m 19,000 −43% reduced DOCN DIGITALOCEAN HLDGS INC Technology 0.7% $4.0m 99,000 −26% reduced TPICQEUR TPI COMPOSITES INC – 0.7% $3.8m 364,044 +45% added URI UNITED RENTALS INC Industrials 0.6% $3.4m 7,650 – new LIBERTY MEDIA CORP DEL no ticker – 0.6% $3.1m 94,000 – new LIBERTY MEDIA CORP DEL no ticker – 0.6% $3.0m 40,500 −21% reduced RUN SUNRUN INC Technology 0.5% $3.0m 167,474 +57% added LQD ISHARES TR – 0.5% $2.9m 26,521 −91% reduced SONY SONY GROUP CORP Technology 0.5% $2.8m 31,600 – new VUG VANGUARD INDEX FDS – 0.5% $2.8m 10,000 −60% reduced SEDG SOLAREDGE TECHNOLOGIES INC Technology 0.5% $2.5m 9,291 +50% added AMZN AMAZON COM INC Consumer Cyclical 0.5% $2.5m 19,000 −54% reduced NIO INC no ticker – 0.4% $2.4m 3.00m – new ASML ASML HLDG NV Technology 0.4% $2.3m 3,200 −29% reduced CDNS CADENCE DESIGN SYSTEM INC Technology 0.4% $2.2m 9,500 +46% added AMAT APPLIED MATLS INC Technology 0.4% $2.2m 15,000 +15% added JD JD.COM INC Consumer Cyclical 0.4% $2.0m 59,133 −32% reduced TSLA TESLA INC Consumer Cyclical 0.4% $2.0m 7,692 +19% added GDXJ VANECK ETF TRUST – 0.4% $1.9m 53,566 – new S9Q SPIRIT AEROSYSTEMS HLDGS INC – 0.4% $1.9m 65,250 – new IQIYI INC no ticker – 0.3% $1.9m 3.10m 0.0% held DAR DARLING INGREDIENTS INC Consumer Defensive 0.3% $1.9m 29,347 +57% added GDX VANECK ETF TRUST – 0.3% $1.8m 59,184 – new ALB ALBEMARLE CORP Basic Materials 0.3% $1.7m 7,740 +28% added KRBN KRANESHARES TR – 0.3% $1.6m 42,637 0.0% held MLM MARTIN MARIETTA MATLS INC Basic Materials 0.3% $1.5m 3,280 0.0% held GOOGL ALPHABET INC Communication Services 0.3% $1.5m 12,500 −17% reduced
Exited since Q1 2023 Sector mix Unclassified 71.3% Technology 8.5% Healthcare 6.1% Financial Services 3.8% Consumer Cyclical 3.2% Basic Materials 1.7% Industrials 1.6% Real Estate 1.3% Communication Services 1.2% Consumer Defensive 0.7% Energy 0.4% Utilities 0.1% Book over time Every quarter on file (40) Where Brevan Howard Capital Management LP was early Concentration and tenure
23.1% Median largest position, all quarters The largest single position as a share of the reported equity book.
76.6% Median top 10 weight, all quarters The ten largest positions together, as a share of the reported equity book.
Concentrated Style, by median largest position
1 Median completed holding, quarters