Brevan Howard Capital Management LP
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Brevan Howard Capital Management LP reported 1,718 stock positions worth $9.0 billion. Its top holding was iShares Bitcoin Trust ETF (IBIT) at 25.4% of the portfolio, followed by iShares Large Cap Deep Quart (IVVB, 5.1%) and Alphabet Class A (GOOGL, 1.7%). Compared with Q1 2025, it opened 865 new positions, sold out of 216, added to 617 and reduced 234. The biggest buy was a new position in iShares Large Cap Deep Quart (IVVB) and the biggest sale an exit from iShares MSCI Emerging Market (EEM).
- Most Recent 13F
- Q2 2026
- Location
- ST. HELIER, Y9
- CIK
- 0001512857
- Portfolio Value
- $9.0B (Q2 2025)
- SEC Filing
- 0000905148-25-002941 ↗ filed Aug 14, 2025
Holdings Value
Holdings 1,718 stocks · $9.0B
| IBIT iShares Bitcoin Trust ETF | 25.44% | 37,506,057 | $2.3B | Add +73.9% |
| IVVB iShares Large Cap Deep Quart | 5.10% | 60,706,457 | $460.5M | New |
| GOOGL Alphabet Inc. Class A | 1.74% | 889,880 | $156.8M | Add +6703.4% |
| MSFT Microsoft Corp. | 1.44% | 260,505 | $129.6M | Add +75.3% |
| PLTR Palantir Technologies Inc. Class A | 1.42% | 941,874 | $128.4M | Add +240.4% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 1.30% | 1,455,000 | $117.3M | Add +2863.0% |
| AMZN Amazon.com Inc. | 1.16% | 477,123 | $104.7M | Add +1861.6% |
| APP AppLovin Corp. Class A | 1.02% | 263,755 | $92.3M | New |
| VCIT Vanguard Int-Term Corporate | 0.69% | 750,000 | $62.0M | New |
| GOOG Alphabet Inc. Class C | 0.65% | 328,929 | $58.3M | Add +1688.0% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.59% | 1,117,901 | $52.9M | Add +297.9% |
| CME Cme Group Inc. | 0.53% | 174,716 | $48.2M | Add +62.9% |
| META Meta Platforms Inc. Class A | 0.50% | 61,106 | $45.1M | Reduce -34.2% |
| APH Amphenol Corp. Class A | 0.49% | 449,345 | $44.4M | New |
| TMUS T-Mobile US Inc. | 0.48% | 180,383 | $43.0M | Add +337.1% |
| JPM JPMorgan Chase & Co. | 0.44% | 138,021 | $40.0M | Add +127.0% |
| AAPL Apple Inc. | 0.41% | 179,102 | $36.7M | Reduce -51.0% |
| MRK Merck & Co. Inc. | 0.39% | 448,919 | $35.5M | New |
| CRM Salesforce Inc. | 0.39% | 129,798 | $35.4M | Add +105.0% |
| HOOD Robinhood Markets Inc. Class A | 0.38% | 362,988 | $34.0M | New |
| XOM Exxon Mobil Corp. | 0.38% | 314,196 | $33.9M | Add +60.0% |
| PGR Progressive Corp. | 0.37% | 126,688 | $33.8M | New |
| GS Goldman Sachs Group Inc. | 0.37% | 47,768 | $33.8M | New |
| MSTR Strategy Inc. filed as MICROSTRATEGY INC | 0.34% | 75,116 | $30.4M | New |
| MA Mastercard Inc. Class A | 0.33% | 53,333 | $29.5M | Reduce -3.9% |
| HES Hess Corp. | 0.32% | 211,061 | $29.2M | Add +44.7% |
| WMT Walmart Inc. | 0.32% | 297,535 | $29.1M | Add +1539.0% |
| CVX Chevron Corp. | 0.32% | 200,526 | $28.7M | Add +3717.4% |
| FISV Fiserv Inc. | 0.32% | 166,154 | $28.6M | New |
| WFC Wells Fargo & Co. | 0.31% | 347,594 | $28.0M | Add +31.7% |
| CAT Caterpillar Inc. | 0.30% | 68,638 | $26.6M | Add +119.6% |
| KR Kroger Co. | 0.30% | 371,327 | $26.6M | Add +2419.0% |
| UNP Union Pacific Corp. | 0.29% | 114,367 | $26.3M | Add +234.0% |
| WELL Welltower Inc. | 0.29% | 169,844 | $26.1M | Add +255.8% |
| AFL Aflac Inc. | 0.29% | 245,455 | $25.9M | Add +503.2% |
| PEP Pepsico Inc. | 0.27% | 184,977 | $24.4M | Add +3705.3% |
| V Visa Inc. Class A | 0.27% | 68,603 | $24.4M | New |
| PG The Procter & Gamble Co. | 0.27% | 152,311 | $24.3M | Add +1814.9% |
| UNH Unitedhealth Group Inc. | 0.26% | 76,575 | $23.9M | Add +1043.3% |
| WMB Williams Cos Inc. | 0.26% | 374,202 | $23.5M | Add +4985.0% |
| CI The Cigna Group | 0.25% | 69,373 | $22.9M | Add +209.2% |
| APO Apollo Global Management Inc. | 0.25% | 155,602 | $22.2M | Add +1119.5% |
| QCOM Qualcomm Inc. | 0.25% | 140,237 | $22.2M | Add +273.8% |
| ADBE Adobe Inc. | 0.24% | 56,388 | $21.8M | Add +260.4% |
| JNJ Johnson & Johnson | 0.24% | 141,719 | $21.6M | Add +121.3% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.24% | 174,789 | $21.6M | Add +251.2% |
| XLP SS Consumer Staples Sel Sect | 0.24% | 265,431 | $21.5M | Add +604.3% |
| BKNG Booking Holdings Inc. | 0.24% | 3,703 | $21.4M | Add +798.8% |
| INSM Insmed Inc. | 0.23% | 202,594 | $20.4M | New |
| C Citigroup Inc. | 0.21% | 225,675 | $19.2M | Add +159.3% |
| GWRE Guidewire Software Inc. | 0.20% | 76,660 | $18.0M | Add +240.7% |
| FYBR Frontier Communications Pare | 0.20% | 495,418 | $18.0M | Reduce -14.2% |
| HON Honeywell International Inc. | 0.19% | 75,104 | $17.5M | New |
| NFLX Netflix Inc. | 0.19% | 13,049 | $17.5M | Add +141.8% |
| LMT Lockheed Martin Corp. | 0.19% | 37,650 | $17.4M | Add +361.1% |
| SFM Sprouts Farmers Market Inc. | 0.19% | 105,545 | $17.4M | Add +788.0% |
| CMCSA Comcast Corp. Class A | 0.19% | 480,794 | $17.2M | Add +322.4% |
| T AT&T Inc. | 0.19% | 588,179 | $17.0M | Add +90.1% |
| CSX CSX Corp. | 0.19% | 515,401 | $16.8M | Add +523.6% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.18% | 51,969 | $16.6M | New |
| BX Blackstone Inc. | 0.18% | 110,977 | $16.6M | Add +340.7% |
| COIN Coinbase Global Inc. Class A | 0.18% | 47,252 | $16.6M | Add +66.7% |
| ECL Ecolab Inc. | 0.18% | 61,441 | $16.6M | Add +126.0% |
| AMAT Applied Materials Inc. | 0.18% | 90,180 | $16.5M | Add +61.5% |
| BA The Boeing Co. | 0.18% | 78,531 | $16.5M | New |
| EQT Eqt Corp. | 0.18% | 279,716 | $16.3M | Add +2165.8% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.18% | 131,471 | $16.3M | Add +111.2% |
| PM Philip Morris International | 0.18% | 88,216 | $16.1M | Add +117.5% |
| AIT Applied Industrial Tech Inc. | 0.18% | 68,575 | $15.9M | New |
| LLY Eli Lilly & Co. | 0.17% | 20,176 | $15.7M | Add +1283.8% |
| NDAQ Nasdaq Inc. | 0.17% | 172,058 | $15.4M | New |
| CRS Carpenter Technology | 0.17% | 54,995 | $15.2M | New |
| ANET Arista Networks Inc. | 0.17% | 148,366 | $15.2M | Add +625.8% |
| KMI Kinder Morgan Inc. | 0.17% | 516,233 | $15.2M | Add +667.4% |
| AAL American Airlines Group Inc. | 0.16% | 1,324,318 | $14.9M | Add +83.2% |
| CTAS Cintas Corp. | 0.16% | 66,403 | $14.8M | Add +147.1% |
| MSCI MSCI Inc. | 0.16% | 25,554 | $14.7M | Add +326.1% |
| MGM MGM Resorts International | 0.16% | 422,983 | $14.5M | Add +943.7% |
| MLI Mueller Industries Inc. | 0.16% | 182,515 | $14.5M | Add +807.0% |
| EXE Expand Energy Corp. | 0.16% | 122,140 | $14.3M | New |
| PYPL PayPal Holdings Inc. | 0.16% | 191,937 | $14.3M | Add +25.0% |
| WM Waste Management Inc. | 0.16% | 61,186 | $14.0M | New |
| CARR Carrier Global Corp. | 0.15% | 190,206 | $13.9M | Add +91.0% |
| ELV Elevance Health Inc. | 0.15% | 35,471 | $13.8M | New |
| ODFL Old Dominion Freight Line | 0.15% | 84,357 | $13.7M | Add +2974.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.15% | 28,046 | $13.6M | New |
| ABNB Airbnb Inc. Class A | 0.15% | 102,726 | $13.6M | Add +420.1% |
| DELL Dell Technologies -C | 0.15% | 110,190 | $13.5M | Add +437.2% |
| ETR Entergy Corp. | 0.15% | 161,204 | $13.4M | Add +25.1% |
| HBAN Huntington Bancshares Inc. | 0.15% | 796,122 | $13.3M | Reduce -28.8% |
| HCA HCA Healthcare Inc. | 0.14% | 34,112 | $13.1M | New |
| SYK Stryker Corp. | 0.14% | 32,870 | $13.0M | New |
| CSCO Cisco Systems Inc. | 0.14% | 187,202 | $13.0M | Reduce -18.3% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.14% | 156,625 | $12.7M | New |
| DHI D.R. Horton Inc. | 0.14% | 97,569 | $12.6M | Add +82.7% |
| SPR Spirit Aerosystems Hold Class A | 0.14% | 321,324 | $12.4M | Reduce -27.5% |
| USB US Bancorp | 0.14% | 272,450 | $12.3M | Reduce -61.2% |
| WBD Warner Bros Discovery Inc. | 0.14% | 1,063,981 | $12.2M | Add +103.6% |
| PCG P G & E Corp. | 0.13% | 867,462 | $12.1M | Add +1065.2% |
| GD General Dynamics Corp. | 0.13% | 41,454 | $12.1M | Add +163.1% |
Options reported separately and not counted above: META calls ($1.2B), AMZN calls ($980.7M), GOOG calls ($723.8M), HYG puts ($645.2M), MSFT calls ($621.7M), GOOGL calls ($424.6M), EEM calls ($383.5M), QQQ calls ($372.4M), EEM puts ($357.0M), IWM puts ($339.0M), EWZ calls ($249.8M), SPY puts ($197.7M), and 77 more.
Other holdings (10): bonds, preferreds, convertibles and warrants · $65.4M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | 14,000,000 | $17.8M | New |
| SEA LTD (SEALTD 2.375 12/01/25) | NOTE 2.375%12/0 · principal | 6,000,000 | $10.6M | No change |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 10,000,000 | $9.8M | Reduce -9.1% |
| PDD HOLDINGS INC (PDD 0 12/01/25) | NOTE 12/0 · principal | 9,500,000 | $9.3M | No change |
| TRMD Torm PLC-A | SHS CL A · principal | 451,555 | $7.5M | New |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | 5,000,000 | $4.7M | Reduce -33.3% |
| ZTO EXPRESS KY INC (ZTO 1.5 09/01/27) | NOTE 1.500% 9/0 · principal | 4,000,000 | $4.0M | No change |
| RDAG Republic Digital Acquis Class A | USD CL A ORD SHS · principal | 125,000 | $1.3M | New |
| DAAQ Digital Asset Acquisiti Class A | SHS CL A · principal | 38,502 | $404K | New |
| BZFDW Buzzfeed Inc. -CW27 | *W EXP 12/03/202 | 603,324 | $49K | No change |
Total filed on the 13F, all lines: $9.1B.
Portfolio Sells Q1 2025 → Q2 2025
| EEM iShares MSCI Emerging Market | Sold out | 0.00% | −5.23 |
| AAPL Apple Inc. | Reduce -51.0% | 0.41% | −1.91 |
| NVDA Nvidia Corp. | Reduce -89.2% | 0.12% | −1.82 |
| PFE Pfizer Inc. | Reduce -85.7% | 0.09% | −1.66 |
| BLK BlackRock Inc. | Sold out | 0.00% | −1.17 |
| META Meta Platforms Inc. Class A | Reduce -34.2% | 0.50% | −1.03 |
| FCX Freeport-McMoran Inc. | Reduce -91.2% | 0.03% | −0.75 |
| USB US Bancorp | Reduce -61.2% | 0.14% | −0.71 |
| MA Mastercard Inc. Class A | Reduce -3.9% | 0.33% | −0.52 |
| TPR Tapestry Inc. | Reduce -54.4% | 0.13% | −0.45 |
| GM General Motors Co. | Reduce -77.1% | 0.04% | −0.41 |
| FYBR Frontier Communications Pare | Reduce -14.2% | 0.20% | −0.39 |
| MTB M & T Bank Corp. | Reduce -48.0% | 0.10% | −0.36 |
| DFS Discover Financial Services | Sold out | 0.00% | −0.36 |
| MP MP Materials Corp. | Reduce -83.5% | 0.03% | −0.34 |
| HBAN Huntington Bancshares Inc. | Reduce -28.8% | 0.15% | −0.33 |
| JNPR Juniper Networks Inc. | Reduce -40.4% | 0.11% | −0.32 |
| ABBV Abbvie Inc. | Reduce -32.8% | 0.09% | −0.31 |
| SPR Spirit Aerosystems Hold Class A | Reduce -27.5% | 0.14% | −0.30 |
| CSCO Cisco Systems Inc. | Reduce -18.3% | 0.14% | −0.26 |
| SHOP Shopify Inc. Class A | Sold out | 0.00% | −0.26 |
| BAH Booz Allen Hamilton Holdings | Reduce -33.1% | 0.08% | −0.23 |
| FWRD Forward Air Corp. | Sold out | 0.00% | −0.22 |
| XLF SS Financial Select Sector | Sold out | 0.00% | −0.21 |
| EWZ iShares MSCI Brazil ETF | Sold out | 0.00% | −0.21 |
| KLAC KLA Corp. | Reduce -61.4% | 0.05% | −0.20 |
| GLW Corning Inc. | Reduce -22.9% | 0.10% | −0.20 |
| MDY State Street SPDR S&P Midcap | Sold out | 0.00% | −0.19 |
| MGY Magnolia Oil & Gas Corp. Class A | Reduce -73.7% | 0.02% | −0.18 |
| PPTA Perpetua Resources Corp. | Sold out | 0.00% | −0.18 |
| LEN Lennar Corp. Class A | Reduce -50.9% | 0.04% | −0.18 |
| BSX Boston Scientific Corp. | Reduce -11.6% | 0.09% | −0.16 |
| NOC Northrop Grumman Corp. | Reduce -66.7% | 0.02% | −0.16 |
| BWA Borgwarner Inc. | Reduce -3.6% | 0.12% | −0.16 |
| EDN Emp Distrib Y Comerc Nor-ADR | Reduce -49.7% | 0.03% | −0.15 |
| BMA Banco Macro SA-ADR | Reduce -14.3% | 0.07% | −0.15 |
| CCK Crown Holdings Inc. | Reduce -71.0% | 0.02% | −0.14 |
| HRB H&R Block Inc. | Reduce -67.4% | 0.02% | −0.14 |
| FXI iShares China Large-Cap ETF | Sold out | 0.00% | −0.14 |
| AMGN Amgen Inc. | Reduce -15.2% | 0.06% | −0.14 |
| KEY Keycorp | Reduce -38.1% | 0.05% | −0.14 |
| TLN Talen Energy Corp. | Reduce -92.8% | 0.01% | −0.14 |
| ZION Zions Bancorp NA | Reduce -24.1% | 0.06% | −0.14 |
| SLM SLM Corp. | Reduce -71.4% | 0.02% | −0.13 |
| ABT Abbott Laboratories | Reduce -13.0% | 0.07% | −0.13 |
| TSN Tyson Foods Inc. Class A | Reduce -77.6% | 0.01% | −0.13 |
| FMC FMC Corp. | Reduce -88.2% | 0.01% | −0.13 |
| MCO Moody's Corp. | Reduce -92.0% | 0.00% | −0.13 |
| MTG Mgic Investment Corp. | Reduce -84.6% | 0.01% | −0.13 |
| VZ Verizon Communications Inc. | Reduce -51.4% | 0.03% | −0.12 |
Portfolio Buys Q1 2025 → Q2 2025
| IVVB iShares Large Cap Deep Quart | New | 5.10% | +5.10 |
| GOOGL Alphabet Inc. Class A | Add +6703.4% | 1.74% | +1.68 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Add +2863.0% | 1.30% | +1.19 |
| AMZN Amazon.com Inc. | Add +1861.6% | 1.16% | +1.03 |
| APP AppLovin Corp. Class A | New | 1.02% | +1.02 |
| PLTR Palantir Technologies Inc. Class A | Add +240.4% | 1.42% | +0.76 |
| VCIT Vanguard Int-Term Corporate | New | 0.69% | +0.69 |
| GOOG Alphabet Inc. Class C | Add +1688.0% | 0.65% | +0.56 |
| APH Amphenol Corp. Class A | New | 0.49% | +0.49 |
| MRK Merck & Co. Inc. | New | 0.39% | +0.39 |
| HOOD Robinhood Markets Inc. Class A | New | 0.38% | +0.38 |
| PGR Progressive Corp. | New | 0.37% | +0.37 |
| GS Goldman Sachs Group Inc. | New | 0.37% | +0.37 |
| MSTR Strategy Inc. | New | 0.34% | +0.34 |
| FISV Fiserv Inc. | New | 0.32% | +0.32 |
| CVX Chevron Corp. | Add +3717.4% | 0.32% | +0.29 |
| WMT Walmart Inc. | Add +1539.0% | 0.32% | +0.28 |
| V Visa Inc. Class A | New | 0.27% | +0.27 |
| KR Kroger Co. | Add +2419.0% | 0.30% | +0.27 |
| BAC Bank of America Corp. | Add +297.9% | 0.59% | +0.26 |
| PEP Pepsico Inc. | Add +3705.3% | 0.27% | +0.25 |
| WMB Williams Cos Inc. | Add +4985.0% | 0.26% | +0.25 |
| PG The Procter & Gamble Co. | Add +1814.9% | 0.27% | +0.23 |
| INSM Insmed Inc. | New | 0.23% | +0.23 |
| APO Apollo Global Management Inc. | Add +1119.5% | 0.25% | +0.20 |
| HON Honeywell International Inc. | New | 0.19% | +0.19 |
| BKNG Booking Holdings Inc. | Add +798.8% | 0.24% | +0.18 |
| AJG Arthur J Gallagher & Co. | New | 0.18% | +0.18 |
| BA The Boeing Co. | New | 0.18% | +0.18 |
| AIT Applied Industrial Tech Inc. | New | 0.18% | +0.18 |
| NDAQ Nasdaq Inc. | New | 0.17% | +0.17 |
| CRS Carpenter Technology | New | 0.17% | +0.17 |
| UNH Unitedhealth Group Inc. | Add +1043.3% | 0.26% | +0.16 |
| TMUS T-Mobile US Inc. | Add +337.1% | 0.48% | +0.16 |
| EQT Eqt Corp. | Add +2165.8% | 0.18% | +0.16 |
| EXE Expand Energy Corp. | New | 0.16% | +0.16 |
| AFL Aflac Inc. | Add +503.2% | 0.29% | +0.16 |
| WM Waste Management Inc. | New | 0.16% | +0.16 |
| ELV Elevance Health Inc. | New | 0.15% | +0.15 |
| BRK.B Berkshire Hathaway Inc. Class B | New | 0.15% | +0.15 |
| XLP SS Consumer Staples Sel Sect | Add +604.3% | 0.24% | +0.15 |
| HCA HCA Healthcare Inc. | New | 0.14% | +0.14 |
| SYK Stryker Corp. | New | 0.14% | +0.14 |
| SFM Sprouts Farmers Market Inc. | Add +788.0% | 0.19% | +0.14 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | New | 0.14% | +0.14 |
| LLY Eli Lilly & Co. | Add +1283.8% | 0.17% | +0.14 |
| ODFL Old Dominion Freight Line | Add +2974.2% | 0.15% | +0.14 |
| EOG EOG Resources Inc. | New | 0.13% | +0.13 |
| GE General Electric | New | 0.13% | +0.13 |
| MGM MGM Resorts International | Add +943.7% | 0.16% | +0.13 |
Options Activity Q1 2025 → Q2 2025
| META Meta Platforms Inc. Class A | call | New | 1,600,000 | $1.2B |
| XLF SS Financial Select Sector | call | Sold out | 23,045,300 | $1.1Bbefore exit |
| AMZN Amazon.com Inc. | call | New | 4,470,000 | $980.7M |
| GOOG Alphabet Inc. Class C | call | New | 4,080,000 | $723.8M |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | Add +53.3% | 8,000,000 | $645.2M |
| MSFT Microsoft Corp. | call | New | 1,249,900 | $621.7M |
| ASHR Xtrackers Harvest Csi 300 CH | call | Sold out | 16,484,540 | $438.0Mbefore exit |
| GOOGL Alphabet Inc. Class A | call | New | 2,409,500 | $424.6M |
| EEM iShares MSCI Emerging Market | call | Reduce -89.8% | 7,950,000 | $383.5M |
| QQQ Invesco QQQ Trust Series 1 | call | New | 675,000 | $372.4M |
| EEM iShares MSCI Emerging Market | put | New | 7,400,000 | $357.0M |
| IWM iShares Russell 2000 ETF | put | Add +12.2% | 1,571,000 | $339.0M |
| EWZ iShares MSCI Brazil ETF | call | New | 8,660,000 | $249.8M |
| BABA Alibaba Group Holding-SP ADR | call | Sold out | 1,900,000 | $247.7Mbefore exit |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Reduce -20.0% | 320,000 | $197.7M |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | call | New | 2,062,000 | $166.3M |
| MSFT Microsoft Corp. | put | New | 249,800 | $124.3M |
| JPM JPMorgan Chase & Co. | call | New | 328,500 | $95.2M |
| WFC Wells Fargo & Co. | call | New | 1,175,400 | $94.7M |
| TLT iShares 20+ Year Treasury BD | call | New | 1,000,000 | $88.3M |
| FXI iShares China Large-Cap ETF | put | Add +33.3% | 2,000,000 | $73.5M |
| AGNC AGNC Investment Corp. | put | Add +600.0% | 7,000,000 | $64.3M |
| MS Morgan Stanley | call | New | 394,200 | $55.5M |
| XLB SS Materials Select Sector | call | Add +188.9% | 624,900 | $54.9M |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | put | New | 500,000 | $54.8M |
| EFA iShares MSCI Eafe ETF | put | Sold out | 600,000 | $49.0Mbefore exit |
| BAC Bank of America Corp. | call | New | 1,031,200 | $48.8M |
| GS Goldman Sachs Group Inc. | call | New | 67,200 | $47.5M |
| PPLT Abrdn Physical Platinum SHRS | call | New | 360,000 | $44.2M |
| COIN Coinbase Global Inc. Class A | call | New | 112,000 | $39.3M |
| XLV SS Health Care Select Sector | put | Reduce -78.6% | 267,100 | $36.0M |
| EWY iShares MSCI South Korea ETF | call | New | 500,000 | $35.9M |
| PDD PDD Holdings Inc. | call | New | 21,375 | $35.7M |
| XLP SS Consumer Staples Sel Sect | put | New | 400,000 | $32.4M |
| BA The Boeing Co. | call | Add +1889.3% | 149,200 | $31.3M |
| SPY SS SPDR S&P 500 ETF Trust-US | call | New | 50,000 | $30.9M |
| NVDA Nvidia Corp. | call | New | 183,375 | $29.0M |
| CRM Salesforce Inc. | put | Sold out | 100,000 | $26.3Mbefore exit |
| BABA Alibaba Group Holding-SP ADR | put | Sold out | 200,000 | $26.1Mbefore exit |
| ACI Albertsons Cos Inc. Class A | call | Sold out | 1,181,000 | $26.0Mbefore exit |
| EWZ iShares MSCI Brazil ETF | put | Reduce -10.0% | 900,000 | $26.0M |
| XLE SS Energy Select Sector | call | New | 295,200 | $25.0M |
| XHB SS SPDR S&P Homebldrs ETF | call | New | 250,000 | $24.6M |
| IBIT iShares Bitcoin Trust ETF | put | New | 400,000 | $24.5M |
| KBE SS SPDR S&P Bank ETF | call | Reduce -20.0% | 400,000 | $22.3M |
| XLK SS Technology Select Sector | call | Reduce -76.1% | 87,300 | $22.1M |
| XLV SS Health Care Select Sector | call | New | 140,000 | $18.9M |
| PDD PDD Holdings Inc. | put | New | 10,500 | $17.5M |
| SLB SLB Ltd. | call | Sold out | 400,000 | $16.7Mbefore exit |
| BA The Boeing Co. | put | New | 74,100 | $15.5M |
Showing the first 50 of 113.
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q1 2025 → Q2 2025
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | New | 14,000,000 | $17.8M |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | Reduce -9.1% | 10,000,000 | $9.8M |
| TRMD Torm PLC-A | SHS CL A · principal | New | 451,555 | $7.5M |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | Sold out | 7,500,000 | $7.3Mbefore exit |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Sold out | 6,000,000 | $7.2Mbefore exit |
| WOLF Wolfspeed Inc. (wolf 1.75 05/01/26) | NOTE 1.750% 5/0 · principal | Sold out | 10,000,000 | $6.0Mbefore exit |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | Reduce -33.3% | 5,000,000 | $4.7M |
| RDAG Republic Digital Acquis Class A | USD CL A ORD SHS · principal | New | 125,000 | $1.3M |
| DAAQ Digital Asset Acquisiti Class A | SHS CL A · principal | New | 38,502 | $404K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,888 | $6.8B | IVV, IBIT, AAPL, MSFT, KRE |
| Q1 2026 | 1,996 | $9.7B | IBIT, QQQ, HYG, NVDA, TSLA |
| Q4 2025 | 1,604 | $4.8B | FTKI, IBIT, GOOGL, GOOG, IVV |
| Q3 2025 | 1,793 | $6.9B | IBIT, MSFT, GOOGL, META, NVDA |
| Q2 2025 | 1,718 | $9.0B | IBIT, IVVB, GOOGL, MSFT, PLTR |
| Q1 2025 | 1,068 | $3.5B | IBIT, EEM, AAPL, NVDA, PFE |
| Q4 2024 | 955 | $4.0B | IBIT, EEM, XLF, ETHA, VIST |
| Q3 2024 | 1,038 | $2.0B | EEM, MSFT, NVDA, SPOT, META |
| Q2 2024 | 966 | $1.5B | HYG, AAPL, XLF, XOM, UNH |
| Q1 2024 | 910 | $1.1B | WDAY, PXD, CME, HES, AAPL |