WhaleCreep

Brevan Howard Capital Management LP 13F holdings, Q3 2023

Hedge fundSEC filingsCompare with another fundHoldings as of 2023-09-30, filed 2023-11-14

Brevan Howard Capital Management LP disclosed 326 US equity positions worth $337.5m in its Q3 2023 13F filing. Its largest position is EWZ at 9.6% of the reported book, followed by CME and NIO 0 02/26. Versus Q2 2023 it opened 234 new positions, added to 34, reduced 22 and exited 61.

$337m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
326
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
9.6%
Largest position
The largest single position as a share of the reported equity book.
44.1%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
37
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 Q2 2023: 234 new, 34 added, 22 reduced, 61 exited

50 of 326
EWZ ISHARES INC–9.6%$32.4m1.05m−42%reduced
CME CME GROUP INCFinancial Services6.1%$20.5m102,5530.0%held
NIO 0 02/26 no ticker–4.9%$16.4m17.80m0.0%held
MRNA MODERNA INCHealthcare4.8%$16.2m157,0000.0%held
VNET 0 02/26 no ticker–4.2%$14.2m17.81m+20%added
PINDUODUO INC no ticker–4.2%$14.1m14.70m0.0%held
XLF SELECT SECTOR SPDR TR–3.7%$12.4m374,801–new
EMB ISHARES TR–2.6%$8.7m105,000−86%reduced
IOVA IOVANCE BIOTHERAPEUTICS INCHealthcare2.1%$7.1m1.56m+5.5%added
VMWEUR VMWARE INC–2.0%$6.9m41,1560.0%held
BILIBILI INC no ticker–2.0%$6.8m9.00m0.0%held
ATVIEUR ACTIVISION BLIZZARD INC–1.9%$6.4m68,523+11%added
SGENUSD SEAGEN INC–1.7%$5.8m27,445–new
DIS DISNEY WALT COCommunication Services1.7%$5.6m69,282–new
HORIZON THERAPEUTICS PUB L no ticker–1.5%$5.2m45,0000.0%held
TRTX TPG RE FIN TR INCReal Estate1.4%$4.7m704,7380.0%held
EEM ISHARES TR–1.2%$4.2m110,000−83%reduced
BKLN INVESCO EXCHNG TRADED FD TR–1.1%$3.7m175,000–new
WW6 WW INTL INC–1.0%$3.2m290,233–new
SEDG SOLAREDGE TECHNOLOGIES INCTechnology0.7%$2.4m18,720+101%added
S9Q SPIRIT AEROSYSTEMS HLDGS INC–0.7%$2.4m148,619+128%added
NIO 0.5 02/27 no ticker–0.7%$2.4m3.00m0.0%held
SABR SABRE CORPTechnology0.7%$2.3m510,379–new
RUN SUNRUN INCTechnology0.6%$2.1m167,4740.0%held
ALB ALBEMARLE CORPBasic Materials0.6%$2.1m12,310+59%added
TSLA TESLA INCConsumer Cyclical0.6%$1.9m7,6920.0%held
IQ 4 12/26 no ticker–0.6%$1.9m3.10m0.0%held
V VISA INCFinancial Services0.5%$1.8m7,942–new
GDXJ VANECK ETF TRUST–0.5%$1.7m53,5660.0%held
DAR DARLING INGREDIENTS INCConsumer Defensive0.5%$1.7m32,158+9.6%added
GDX VANECK ETF TRUST–0.5%$1.6m59,1840.0%held
HD HOME DEPOT INCConsumer Cyclical0.5%$1.6m5,206–new
MLM MARTIN MARIETTA MATLS INCBasic Materials0.5%$1.6m3,790+16%added
KRBN KRANESHARES TR–0.5%$1.5m42,6370.0%held
FCX FREEPORT MCMORAN INCBasic Materials0.4%$1.3m35,6180.0%held
EZA ISHARES INC–0.4%$1.3m35,0950.0%held
NVDA NVIDIA CORPORATIONTechnology0.4%$1.3m2,996+20%added
C CITIGROUP INCFinancial Services0.4%$1.3m31,596–new
AAPL APPLE INCTechnology0.4%$1.3m7,439+332%added
NEM NEWMONT CORPBasic Materials0.3%$1.1m30,4670.0%held
BA BOEING COIndustrials0.3%$1.1m5,759–new
MA MASTERCARD INCFinancial Services0.3%$1.1m2,700–new
ZTS ZOETIS INCHealthcare0.3%$1.1m6,1260.0%held
USO UNITED STS OIL FD LP–0.3%$1.1m13,000–new
TPICQEUR TPI COMPOSITES INC–0.3%$989k373,340+2.6%added
BMY BRISTOL-MYERS SQUIBB COHealthcare0.3%$978k16,853–new
ACH ACCENDRA HEALTH INCHealthcare0.3%$949k58,712–new
NLR VANECK ETF TRUST–0.3%$949k13,3880.0%held
TJX TJX COS INC NEWConsumer Cyclical0.3%$943k10,613–new
VAC MARRIOTT VACATIONS WORLDWIDEConsumer Cyclical0.3%$934k9,277+63%added

Exited since Q2 2023

61 rows
TLT ISHARES TR15.9%$86.8m
URA GLOBAL X FDS3.8%$20.5m
TIP ISHARES TR2.3%$12.7m
0C3 ENDEAVOR GROUP HLDGS INC1.1%$6.2m
WWEUSD WORLD WRESTLING ENTMT INC1.1%$6.0m
ORCL ORACLE CORP1.1%$5.7m
SPY SPDR S&P 500 ETF Trust0.9%$4.7m
DOCN DIGITALOCEAN HLDGS INC0.7%$4.0m
URI UNITED RENTALS INC0.6%$3.4m
LIBERTY MEDIA CORP DEL no ticker0.6%$3.1m
LIBERTY MEDIA CORP DEL no ticker0.6%$3.0m
LQD ISHARES TR0.5%$2.9m
SONY SONY GROUP CORP0.5%$2.8m
VUG VANGUARD INDEX FDS0.5%$2.8m
AMZN AMAZON COM INC0.5%$2.5m
ASML ASML HLDG NV0.4%$2.3m
CDNS CADENCE DESIGN SYSTEM INC0.4%$2.2m
AMAT APPLIED MATLS INC0.4%$2.2m
JD JD.COM INC0.4%$2.0m
GOOGL ALPHABET INC0.3%$1.5m
ARCELORMITTAL SA LUXEMBOURG no ticker0.3%$1.4m
XLI SELECT SECTOR SPDR TR0.2%$1.3m
ANET ARISTA NETWORKS INC0.2%$1.2m
AMD ADVANCED MICRO DEVICES INC0.2%$1.1m
WBD WARNER BROS DISCOVERY INC0.2%$919k
SAH SONIC AUTOMOTIVE INC0.2%$849k
CHINDATA GROUP HLDGS LTD no ticker0.2%$818k
CHTR CHARTER COMMUNICATIONS INC0.1%$761k
SMG SCOTTS MIRACLE-GRO CO0.1%$693k
LAD LITHIA MTRS INC0.1%$654k
CVX CHEVRON CORPORATION0.1%$619k
SGI SOMNIGROUP INTERNATIONAL INC0.1%$607k
AFRM AFFIRM HLDGS INC0.1%$578k
DAN DANA INC0.10%$532k
IRM IRON MTN INC DEL0.10%$524k
SEE1GBP SEALED AIR CORP NEW0.09%$511k
DTM DT MIDSTREAM INC0.09%$502k
TWI TITAN INTL INC ILL0.08%$444k
VIAV VIAVI SOLUTIONS INC0.07%$398k
TMUS T-MOBILE US INC0.07%$391k
NOG NORTHERN OIL & GAS INC0.07%$387k
G2C EVERI HLDGS INC0.07%$384k
CIEN CIENA CORP0.07%$374k
VTOL BRISTOW GROUP INC0.07%$360k
AVTR AVANTOR INC0.07%$359k
APTV APTIV PLC0.06%$349k
OLN OLIN CORP0.06%$341k
USX1 UNITED STATES STL CORP NEW0.06%$314k
SWAVUSD SHOCKWAVE MED INC0.05%$253k
WMS ADVANCED DRAIN SYS INC DEL0.04%$243k

Sector mix

  • Unclassified49.3%
  • Healthcare10.4%
  • Financial Services9.2%
  • Technology6.9%
  • Consumer Cyclical6.9%
  • Industrials4.0%
  • Basic Materials3.2%
  • Real Estate3.1%
  • Communication Services2.7%
  • Consumer Defensive2.5%
  • Energy1.3%
  • Utilities0.6%

Book over time

Every quarter on file (40)
QuarterPositionsEquity book
Q2 20261,908$7.1bn
Q1 20262,006$10.0bn
Q4 20251,618$5.2bn
Q3 20251,799$7.0bn
Q2 20251,727$9.1bn
Q1 20251,076$3.6bn
Q4 2024963$4.0bn
Q3 20241,049$2.1bn
Q2 2024970$1.5bn
Q1 2024913$1.1bn
Q4 2023958$994m
Q3 2023326$337m
Q2 2023153$544m
Q1 202391$454m
Q4 202271$343m
Q3 202259$263m
Q2 202236$137m
Q1 202225$133m
Q4 202117$114m
Q3 202128$165m
Q2 202129$120m
Q1 202133$150m
Q4 202019$172m
Q3 201730$43.5m
Q2 20173$19.7m
Q1 20171$12.2m
Q4 20162$33.9m
Q3 201612$102m
Q2 20163$35.2m
Q1 201613$208m
Q4 201512$198m
Q3 201519$198m
Q2 201527$302m
Q1 201516$161m
Q4 20148$170m
Q3 20149$238m
Q2 20149$127m
Q1 201411$144m
Q4 201314$207m
Q3 201318$61.7m

Where Brevan Howard Capital Management LP was early

25 rows
MCHI ISHARES TRQ4 20131 of 580.2%8.5%6Exited by Q2 2015+13%
XRT SPDR SER TRQ4 20132 of 7710.7%13.8%3Exited by Q1 2025+81%
EEM ISHARES TRQ4 20137 of 1344.0%71.1%16Exited by Q2 2026+36%
FXI ISHARES TRQ4 20138 of 13549.9%49.9%8Exited by Q2 2026−6.4%
GLD SPDR GOLD TRQ4 201313 of 19122.8%24.8%9Exited by Q2 2026+271%
RDN RADIAN GROUP INCQ1 20144 of 1202.3%4.1%10Held at last filing, Q2 2026+151%
AAXJ ISHARESQ4 20141 of 3111.6%11.6%2Exited by Q2 2015+5.0%
BMA BANCO MACRO S AQ1 20151 of 831.8%2.6%11Held at last filing, Q2 2026+62%
PAM PAMPA ENERGIA SAQ1 20151 of 725.1%16.1%13Held at last filing, Q2 2026+365%
AGRO ADECOAGRO S AQ1 20152 of 787.9%18.1%5Exited by Q2 2016+13%
GGAL GRUPO FINANCIERO GALICIA S.AQ1 20152 of 965.7%9.9%12Held at last filing, Q2 2026+116%
CRESY CRESUD S A C I F Y AQ1 20153 of 323.8%11.7%5Exited by Q2 2016−15%
EDN EMPRESA DIST Y COMERCIAL NORQ1 20153 of 291.0%2.4%10Held at last filing, Q2 2026+54%
TX TERNIUM SAQ1 20153 of 525.0%9.1%4Exited by Q1 2016−31%
NMIH NMI HLDGS INCQ1 20157 of 1131.4%1.4%11Held at last filing, Q2 2026+449%
CFG CITIZENS FINL GROUP INCQ1 201510 of 1715.0%5.0%13Held at last filing, Q2 2026+190%
IBB ISHARES NASDAQ BIOTECHQ3 201611 of 12023.5%65.1%5Exited by Q3 2024+42%
LQD ISHARES TRQ2 20176 of 10124.2%24.2%11Exited by Q2 2026−9.6%
KOPN KOPIN CORPQ1 20211 of 682.7%2.7%5Exited by Q2 2025−91%
ATOM Atomera IncQ1 20212 of 421.8%1.9%6Exited by Q3 2022−62%
DDOG DATADOG INCQ1 202123 of 2671.5%2.3%11Held at last filing, Q2 2026+212%
URA GLOBAL X FDSQ3 20212 of 823.0%23.3%13Exited by Q1 2026+80%
EWY ISHARES INCQ4 202112 of 1131.5%4.0%3Exited by Q2 2026+58%
DOCN DIGITALOCEAN HLDGS INCQ2 202210 of 1751.1%1.2%11Held at last filing, Q2 2026+280%
ETHA ISHARES ETHEREUM TRQ4 20243 of 642.3%2.3%4Exited by Q1 2026−11%

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