Fund HoldingsBrevan Howard Capital Management LP

Total Portfolio Value
$9.16B
Total Bought
$3.51B
Total Sold
$17.12B
Net Transaction
-$13.60B
Filing Period:
Securities
SharesValue ($K)
Q3 2025
Q4 2025
Change
Q3 2025
Q4 2025
Weight (%)
Change
FIRST TR EXCHANGE TRADED FD
SM CAP BUYWRITE
057,081,120+57,081,1200452,0404.93%+452,040
ISHARES BITCOIN TRUST ETF(IBIT)(Call)3,200,5008,058,800+4,858,300208,033400,119+192,087
NVIDIA CORPORATION(NVDA)(Put)1,094,0002,068,000+974,000204,119385,682+181,563
BANK AMERICA CORP(Call)02,350,000+2,350,0000129,250+129,250
ISHARES BITCOIN TRUST ETF(IBIT)(Put)2,000,0005,000,000+3,000,000130,000248,250+118,250
ISHARES TR0162,970+162,9700112,0161.22%+112,016
WALMART INC(WMT)0875,623+875,623097,5531.06%+97,553
SPDR SERIES TRUST(Call)
ST STR SP HOME
0660,000+660,000067,954+67,954
BROADCOM INC(AVGO)51,013211,631+160,61816,83073,4350.80%+56,605
SELECT SECTOR SPDR TR(Put)
ST STR UTIL ETF
01,300,000+1,300,000055,497+55,497
BARRICK MNG CORP(B)444,0161,499,501+1,055,48514,79465,3030.71%+50,509
ORACLE CORP(ORCL)0252,175+252,175049,4010.54%+49,401
ALIBABA GROUP HLDG LTD(BABA)000044,5930.49%+44,593
ALPHABET INC(GOOG)437,044480,053+43,009106,442150,6411.64%+44,199
ISHARES TR(Call)0500,000+500,000040,315+40,315
WESTERN UN CO(WU)(Call)04,311,200+4,311,200040,137+40,137
AGNC INVT CORP(AGNC)(Put)05,500,000+5,500,000059,153+59,153
SPOT 0 03/26(SPOT)000037,3860.41%+37,386
ALIBABA GROUP HLDG LTD(BABA)(Put)295,000613,000+318,00052,72589,380+36,654
ALIBABA GROUP HLDG LTD(BABA)114,105379,350+265,24520,39455,3050.60%+34,911
ISHARES TR0315,000+315,000034,7100.38%+34,710
F 0 03/26(F)000031,3570.34%+31,357
EVRG 4.5 12/27(EVRG)000030,5910.33%+30,591
COHERENT CORP(COHR)0184,303+184,303034,0170.37%+34,017
ORACLE CORP(ORCL)(Call)0150,000+150,000029,385+29,385
SANDISK CORP(SNDK)0123,362+123,362029,2840.32%+29,284
SELECT SECTOR SPDR TR(Put)
ST STR TECHN ETF
0200,000+200,000028,794+28,794
COMCAST CORP NEW(CCZ)(Call)0900,000+900,000026,901+26,901
LUMENTUM HLDGS INC(LITE)067,356+67,356024,8270.27%+24,827
SPDR SERIES TRUST(Call)
ST STR SP BANK
0400,000+400,000024,276+24,276
PINNACLE WEST CAP CORP(PNW)000024,1310.26%+24,131
AKAM 1.125 02/29(AKAM)000023,8250.26%+23,825
DUK 4.125 04/26(DUK)000023,8080.26%+23,808
SELECT SECTOR SPDR TR(Call)
ST STR MATER ETF
0500,000+500,000022,675+22,675
SELECT SECTOR SPDR TR(Put)
ST STR MATER ETF
0500,000+500,000022,675+22,675
CNP 4.25 08/26(CNP)000021,9880.24%+21,988
ELI LILLY & CO(LLY)(Call)020,000+20,000021,552+21,552
SELECT SECTOR SPDR TR(Call)
ST STR UTIL ETF
0500,000+500,000021,345+21,345
LNT 3.875 03/26(LNT)000020,9150.23%+20,915
JBTM 0.25 05/26(JBTM)000020,6990.23%+20,699
BANK AMERICA CORP0712,959+712,959039,2130.43%+39,213
FE 4 05/26(FE)000020,5080.22%+20,508
JAZZ INVESTMENTS I LTD(JAZZ)000020,0060.22%+20,006
ANIP 2.25 09/29(ANIP)000019,1040.21%+19,104
ALCOA CORP(AA)0387,491+387,491020,5910.22%+20,591
BANCORP INC DEL(TBBK)0259,460+259,460017,5190.19%+17,519
WEC 4.375 06/27(WEC)000016,9850.19%+16,985
SNOWFLAKE INC(SNOW)000015,7160.17%+15,716
TESLA INC(TSLA)104,691137,164+32,47346,55861,6850.67%+15,127
STIFEL FINL CORP(SF)0130,145+130,145016,2970.18%+16,297
ISHARES TR0160,000+160,000013,9460.15%+13,946
ELECTRONIC ARTS INC(EA)0102,000+102,000020,8420.23%+20,842
PG&E CORP(PCG)000012,8640.14%+12,864
MARVELL TECHNOLOGY INC(MRVL)0164,807+164,807014,0050.15%+14,005
COASTAL FINL CORP WA0110,000+110,000012,6050.14%+12,605
REGENERON PHARMACEUTICALS(REGN)019,985+19,985015,4260.17%+15,426
NORFOLK SOUTHN CORP(NSC)058,018+58,018016,7510.18%+16,751
BOSTON SCIENTIFIC CORP(BSX)0200,756+200,756019,2030.21%+19,203
GILEAD SCIENCES INC(GILD)0114,639+114,639014,0710.15%+14,071
BRISTOL-MYERS SQUIBB CO(BMY)0276,233+276,233014,9000.16%+14,900
SERVICENOW INC(NOW)081,760+81,760012,5250.14%+12,525
WALMART INC(WMT)(Call)0100,000+100,000011,141+11,141
FREEPORT-MCMORAN INC(FCX)(Call)0225,000+225,000011,428+11,428
PERPETUA RESOURCES CORP(PPTA)0492,200+492,200012,0660.13%+12,066
SOUTHERN CO(SO)000010,7060.12%+10,706
WKC 3.25 07/28(WKC)000010,6250.12%+10,625
BRIDGEBIO PHARMA INC(BBIO)0173,523+173,523013,1760.14%+13,176
QTWO 0.75 06/26(QTWO)000010,2400.11%+10,240
ASCENDIS PHARMA A/S(ASND)048,260+48,260010,1520.11%+10,152
DAY 0.25 03/2600009,9040.11%+9,904
INTERNATIONAL BUSINESS MACHS(IBM)(Call)033,300+33,30009,864+9,864
COLUMBIA BKG SYS INC(COLB)0350,000+350,00009,7830.11%+9,783
VISTA ENERGY S.A.B. DE C.V.(VIST)0250,045+250,045012,2070.13%+12,207
NORTHEAST BK PORTLAND ME
COM
092,107+92,10709,5730.10%+9,573
TAIWAN SEMICONDUCTOR MFG LTD(TSM)040,871+40,871012,4900.14%+12,490
THE TRADE DESK INC(TTD)0259,224+259,22409,8400.11%+9,840
SYNDAX PHARMACEUTICALS INC(SNDX)0515,129+515,129010,8230.12%+10,823
FB FINL CORP(FBK)0154,018+154,01808,5940.09%+8,594
PAMPA ENERGIA S A(PAM)0165,940+165,940014,5550.16%+14,555
WT 3.25 06/26(WT)00008,2130.09%+8,213
AST SPACEMOBILE INC(ASTS)0110,546+110,54608,0290.09%+8,029
CORE SCIENTIFIC INC NEW(CORZ)(Call)0550,000+550,00008,005+8,005
PATHWARD FINANCIAL INC(CASH)0115,505+115,50508,2010.09%+8,201
BIOGEN INC(BIIB)071,017+71,017012,4980.14%+12,498
SNOWFLAKE INC(SNOW)00007,5520.08%+7,552
SOUTHSTATE BK CORP080,000+80,00007,5290.08%+7,529
DISNEY WALT CO(DIS)(Call)066,100+66,10007,520+7,520
CONNECTONE BANCORP INC(CNOB)0283,923+283,92307,4440.08%+7,444
SPROTT INC(SII)075,000+75,00007,3780.08%+7,378
CITIGROUP INC(C)(Call)062,100+62,10007,246+7,246
NATERA INC(NTRA)035,328+35,32808,1600.09%+8,160
BRIGHTHOUSE FINL INC(BHF)(Put)0111,000+111,00007,192+7,192
ISHARES INC(Call)080,000+80,00007,778+7,778
CDW CORP(CDW)058,533+58,53307,9720.09%+7,972
DANAHER CORPORATION(DHR)032,948+32,94807,5420.08%+7,542
SOFI TECHNOLOGIES INC(SOFI)0383,874+383,874010,0500.11%+10,050
NEBIUS GROUP N.V.(NBIS)077,025+77,02506,5340.07%+6,534
IRSA INVERSIONES Y REP S A(IRS)0396,077+396,07706,4980.07%+6,498
RALPH LAUREN CORP(RL)027,378+27,37809,6810.11%+9,681
QCR HOLDINGS INC(QCRH)080,000+80,00006,6640.07%+6,664
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