Brevan Howard Capital Management LP Q3 2025 Filing

Filed November 14, 2025

Portfolio Value

$22.4T

Holdings

1,817

Report Date

Q3 2025

Filing Type

13F-HR

All Holdings (1,817 positions)

#StockSharesValue% PortfolioType
1
GOOGALPHABET INC
15,917,044$3.9T17.30%Put
2
IBITISHARES BITCOIN TRUST ETF
41,953,248$2.7T12.17%Put
3
PDDPDD HOLDINGS INC
1,068,375$2.3T10.11%Put
4
MSFTMICROSOFT CORP
2,783,572$1.4T6.44%Put
5
METAMETA PLATFORMS INC
1,933,944$1.4T6.34%Call
6
EEMISHARES TR
20,504,190$1.1T4.89%Call
7
HYGISHARES TR
8,611,800$699.2B3.12%Put
8
LQDISHARES TR
6,000,000$668.8B2.99%Put
9
ASHRDBX ETF TR
12,212,434$402.8B1.80%Call
10
NVDANVIDIA CORPORATION
2,021,047$377.1B1.68%Put
11
NDQINVESCO QQQ TR
610,375$366.5B1.64%Put
12
COINCOINBASE GLOBAL INC
1,085,639$366.4B1.64%Put
13
BIDUNBAIDU INC
2,698,605$355.6B1.59%Put
14
AEMAGNICO EAGLE MINES LTD
1,595,018$268.6B1.20%Call
15
GOOGLALPHABET INC
990,620$240.8B1.07%Put
16
NEMNEWMONT CORP
2,523,603$212.8B0.95%Call
17
GQ9SPDR GOLD TR
593,000$210.8B0.94%Put
18
GDXVANECK ETF TRUST
2,659,721$203.2B0.91%Call
19
BBARRICK MNG CORP
5,844,016$192.1B0.86%Call
20
TLTISHARES TR
2,000,000$178.7B0.80%Put
21
FXIISHARES TR
4,000,000$164.6B0.73%Call
22
TSLATESLA INC
319,691$142.2B0.63%Call
23
SPYSPDR S&P 500 ETF TR
205,892$137.2B0.61%Put
24
BABAALIBABA GROUP HLDG LTD
764,105$136.6B0.61%Put
25
AAPLAPPLE INC
486,334$123.8B0.55%Call
26
IWMISHARES TR
312,877$75.7B0.34%Call
27
AMZNAMAZON COM INC
338,541$74.3B0.33%Put
28
BABA 0.5 06/01/31ALIBABA GROUP HLDG LTD
28,500,000$52.7B0.24%
29
LMTLOCKHEED MARTIN CORP
104,108$52.0B0.23%Call
30
XLESELECT SECTOR SPDR TR
500,000$44.7B0.20%Call
31
BACBANK AMERICA CORP
858,869$44.3B0.20%Put
32
IM8NINSMED INC
294,047$42.3B0.19%
33
BABOEING CO
189,293$40.9B0.18%Put
34
FIXCOMFORT SYS USA INC
48,062$39.7B0.18%
35
QCOMQUALCOMM INC
235,742$39.2B0.18%Put
36
JPMJPMORGAN CHASE & CO.
119,793$37.8B0.17%
37
KBESPDR SERIES TRUST
627,284$37.3B0.17%Put
38
ALABASTERA LABS INC
186,984$36.6B0.16%
39
XOMEXXON MOBIL CORP
315,297$35.5B0.16%Put
40
SNOWSNOWFLAKE INC
155,735$35.1B0.16%Put
41
TRVCCITIGROUP INC
302,030$30.7B0.14%
42
CMECME GROUP INC
105,580$28.5B0.13%
43
ITBISHARES TR
253,744$27.2B0.12%Call
44
FSLRFIRST SOLAR INC
107,273$23.7B0.11%Call
45
BXBLACKSTONE INC
136,073$23.2B0.10%Call
46
SCHWSCHWAB CHARLES CORP
242,931$23.2B0.10%Put
47
AMDADVANCED MICRO DEVICES INC
140,365$22.7B0.10%Call
48
USOUNITED STS OIL FD LP
300,000$22.1B0.10%Call
49
AGNCAGNC INVT CORP
2,196,600$21.5B0.10%Put
50
KKRKKR & CO INC
159,548$20.7B0.09%Call
51
NFLXNETFLIX INC
17,060$20.5B0.09%
52
CIENCIENA CORP
137,727$20.1B0.09%
53
MIGASTRATEGY INC
62,129$20.0B0.09%
54
SLBSCHLUMBERGER LTD
580,394$19.9B0.09%Put
55
WFCWELLS FARGO CO NEW
236,401$19.8B0.09%
56
RCATRED CAT HLDGS INC
1,907,122$19.7B0.09%
57
FYBRFRONTIER COMMUNICATIONS PARE
518,477$19.4B0.09%
58
XHBSPDR SERIES TRUST
164,254$18.2B0.08%Call
59
GSGOLDMAN SACHS GROUP INC
22,080$17.6B0.08%
60
AVGOBROADCOM INC
51,013$16.8B0.08%
61
PLTRPALANTIR TECHNOLOGIES INC
91,251$16.6B0.07%
62
VVISA INC
48,161$16.4B0.07%
63
KELKELLANOVA
198,962$16.3B0.07%
64
IWVISHARES TR
41,937$15.8B0.07%
65
LLYELI LILLY & CO
20,561$15.7B0.07%
66
JNJJOHNSON & JOHNSON
83,645$15.5B0.07%
67
LVLNSPDR SERIES TRUST
238,361$15.1B0.07%Call
68
CSCOCISCO SYS INC
220,487$15.1B0.07%
69
BRK/BBERKSHIRE HATHAWAY INC DEL
29,847$15.0B0.07%
70
CRWVCOREWEAVE INC
107,137$14.7B0.07%
71
S9QSPIRIT AEROSYSTEMS HLDGS INC
354,742$13.7B0.06%
72
ETHAISHARES ETHEREUM TR
428,995$13.5B0.06%Call
73
EFRENERGY FUELS INC
836,768$13.3B0.06%
74
UBERUBER TECHNOLOGIES INC
130,315$12.8B0.06%Put
75
FITBFIFTH THIRD BANCORP
285,339$12.7B0.06%Put
76
RDDTREDDIT INC
51,073$11.7B0.05%
77
TERTERADYNE INC
84,792$11.7B0.05%Call
78
IONQIONQ INC
187,269$11.5B0.05%
79
PGPROCTER AND GAMBLE CO
74,710$11.5B0.05%
80
HDHOME DEPOT INC
27,359$11.1B0.05%
81
CASYCASEYS GEN STORES INC
19,501$11.0B0.05%
82
KEYKEYCORP
584,471$10.9B0.05%
83
CVNACARVANA CO
28,939$10.9B0.05%
84
PEPPEPSICO INC
75,670$10.6B0.05%
85
HBANHUNTINGTON BANCSHARES INC
613,111$10.6B0.05%
86
MOALTRIA GROUP INC
159,349$10.5B0.05%
87
CCOCAMECO CORP
126,184$10.5B0.05%Call
88
UNPUNION PAC CORP
43,585$10.3B0.05%
89
WBDWARNER BROS DISCOVERY INC
515,685$10.1B0.04%Call
90
MTBM & T BK CORP
50,765$10.0B0.04%
91
PYPLPAYPAL HLDGS INC
148,530$10.0B0.04%
92
ARKKARK ETF TR
115,304$10.0B0.04%Call
93
CPNGCOUPANG INC
306,770$9.9B0.04%
94
QRVOQORVO INC
108,001$9.8B0.04%
95
VSTVISTRA CORP
50,146$9.8B0.04%
96
AFLAFLAC INC
87,319$9.8B0.04%
97
CMICUMMINS INC
23,069$9.7B0.04%
98
NIOCORP DEVS LTD
1,450,542$9.7B0.04%
99
RIOTRIOT PLATFORMS INC
508,649$9.7B0.04%Call
100
WMTWALMART INC
93,268$9.6B0.04%
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