Brevan Howard Capital Management LP
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Brevan Howard Capital Management LP reported 1,996 stock positions worth $9.7 billion. Its top holding was iShares Bitcoin Trust ETF (IBIT) at 9.6% of the portfolio, followed by Invesco QQQ Trust Series 1 (QQQ, 8.8%) and Ishr Ibx Usd Hiyld CB ETF-Ui (HYG, 5.3%). Compared with Q4 2025, it opened 794 new positions, sold out of 403, added to 641 and reduced 560. The biggest buy was Invesco QQQ Trust Series 1 (QQQ, shares +6637%) and the biggest sale an exit from FT Smallcap Buywrite Inc. ETF (FTKI).
- Most Recent 13F
- Q2 2026
- Location
- ST. HELIER, Y9
- CIK
- 0001512857
- Portfolio Value
- $9.7B (Q1 2026)
- SEC Filing
- 0000905148-26-002360 ↗ filed May 15, 2026
Holdings Value
Holdings 1,996 stocks · $9.7B
| IBIT iShares Bitcoin Trust ETF | 9.63% | 24,304,788 | $933.8M | Add +338.0% |
| QQQ Invesco QQQ Trust Series 1 | 8.82% | 1,482,035 | $855.4M | Add +6636.5% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 5.27% | 6,420,000 | $510.8M | New |
| NVDA Nvidia Corp. | 5.19% | 2,960,428 | $503.4M | Add +487.2% |
| TSLA Tesla Inc. | 4.31% | 1,123,875 | $417.8M | Add +719.4% |
| PDD PDD Holdings Inc. | 3.04% | 180,500 | $295.1M | New |
| TLT iShares 20+ Year Treasury BD | 2.46% | 2,750,000 | $238.4M | Add +1618.8% |
| FXI iShares China Large-Cap ETF | 2.23% | 6,030,000 | $216.5M | New |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 2.22% | 1,975,000 | $215.3M | Add +527.0% |
| GLD SPDR Gold Shares | 1.90% | 427,603 | $184.0M | Add +42875.2% |
| XLF SS Financial Select Sector | 1.27% | 2,500,000 | $123.4M | New |
| EWZ iShares MSCI Brazil ETF | 1.22% | 3,070,495 | $117.9M | New |
| META Meta Platforms Inc. Class A | 1.19% | 208,822 | $115.3M | Add +10736.6% |
| PLTR Palantir Technologies Inc. Class A | 1.16% | 791,246 | $112.0M | Add +1644.6% |
| BA The Boeing Co. | 1.05% | 511,019 | $101.7M | Add +9206.5% |
| SNDK Sandisk Corp. | 0.86% | 131,559 | $83.6M | Add +6.6% |
| UBER Uber Technologies Inc. | 0.81% | 1,116,853 | $78.6M | Add +1763.8% |
| NFLX Netflix Inc. | 0.79% | 811,542 | $76.6M | Add +621.0% |
| MU Micron Technology Inc. | 0.78% | 222,516 | $75.2M | Add +1278.2% |
| SCHW Schwab (charles) Corp. | 0.75% | 781,655 | $72.3M | Add +24698.7% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.71% | 1,500,000 | $68.8M | Add +1150.0% |
| GM General Motors Co. | 0.70% | 910,166 | $67.8M | Add +22317.9% |
| MSFT Microsoft Corp. | 0.60% | 1,611,410 | $57.8M | Add +17070.1% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.58% | 143,829 | $56.2M | New |
| XLB SS Materials Select Sector | 0.52% | 1,000,000 | $50.0M | New |
| XLP SS Consumer Staples Sel Sect | 0.51% | 600,000 | $49.2M | New |
| JD Jd.com Inc.-ADR | 0.49% | 1,649,000 | $47.8M | New |
| ORCL Oracle Corp. | 0.48% | 317,233 | $46.7M | Add +25.8% |
| GDX Vaneck Gold Miners ETF | 0.47% | 496,884 | $45.6M | Add +82.6% |
| COIN Coinbase Global Inc. Class A | 0.43% | 253,685 | $42.0M | Add +1894.1% |
| COP Conocophillips | 0.42% | 306,002 | $40.4M | New |
| AAPL Apple Inc. | 0.40% | 151,567 | $38.5M | Reduce -44.7% |
| EWY iShares MSCI South Korea ETF | 0.37% | 292,385 | $36.0M | New |
| PPTA Perpetua Resources Corp. | 0.34% | 1,225,000 | $32.9M | Add +148.9% |
| KWEB Kranesh Csi China Internet | 0.33% | 1,117,500 | $31.8M | Add +3753.4% |
| EEM iShares MSCI Emerging Market | 0.33% | 556,362 | $31.6M | New |
| CME Cme Group Inc. | 0.31% | 102,706 | $30.3M | Reduce -8.3% |
| MTZ Mastec Inc. | 0.30% | 94,669 | $29.5M | Add +994.6% |
| FTI Technipfmc PLC | 0.30% | 417,708 | $28.9M | New |
| MCD McDonald's Corp. | 0.29% | 92,740 | $28.6M | Add +7699.8% |
| NB Niocorp Developments Ltd. | 0.29% | 6,485,000 | $28.0M | Add +153.3% |
| CMCSA Comcast Corp. Class A | 0.28% | 942,356 | $27.1M | Add +558.9% |
| EA Electronic Arts Inc. | 0.27% | 128,540 | $26.2M | Add +26.0% |
| XLY SS Consumer Disc Select Sect | 0.26% | 230,944 | $25.2M | New |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.25% | 254,345 | $24.0M | Add +6567.0% |
| COST Costco Wholesale Corp. | 0.24% | 23,483 | $23.4M | Add +237.3% |
| GOOGL Alphabet Inc. Class A | 0.24% | 80,984 | $23.3M | Reduce -85.3% |
| TSM Taiwan Semiconductor-SP ADR | 0.22% | 65,533 | $21.3M | Add +60.3% |
| XOM Exxon Mobil Corp. | 0.21% | 119,450 | $20.3M | Add +348.8% |
| CVX Chevron Corp. | 0.21% | 97,185 | $20.1M | Add +5141.9% |
| FANG Diamondback Energy Inc. | 0.20% | 100,192 | $19.8M | Add +3989.5% |
| LNG Cheniere Energy Inc. | 0.19% | 65,278 | $18.5M | Add +579.3% |
| TMUS T-Mobile US Inc. | 0.19% | 87,616 | $18.4M | Add +1580.1% |
| WMT Walmart Inc. | 0.19% | 144,495 | $18.0M | Reduce -83.5% |
| CCJ Cameco Corp. | 0.18% | 162,545 | $17.7M | Add +68.9% |
| CVBF CVB Financial Corp. | 0.18% | 895,386 | $17.4M | Add +198.5% |
| CSCO Cisco Systems Inc. | 0.18% | 221,143 | $17.2M | Add +96.5% |
| XPO Xpo Inc. | 0.17% | 85,603 | $16.7M | New |
| NSC Norfolk Southern Corp. | 0.17% | 58,552 | $16.6M | Add +0.9% |
| SF Stifel Financial Corp. | 0.17% | 221,321 | $16.4M | Add +13.4% |
| MRVL Marvell Technology Inc. | 0.17% | 164,745 | $16.3M | Reduce -0.0% |
| ABBV Abbvie Inc. | 0.17% | 73,583 | $16.0M | New |
| FCX Freeport-McMoran Inc. | 0.16% | 268,503 | $15.8M | Add +166.4% |
| LLY Eli Lilly & Co. | 0.16% | 17,119 | $15.7M | Reduce -7.8% |
| SPOT Spotify Technology SA | 0.16% | 32,363 | $15.5M | New |
| C Citigroup Inc. | 0.16% | 140,370 | $15.4M | Reduce -50.9% |
| AMZN Amazon.com Inc. | 0.16% | 73,640 | $15.3M | Reduce -24.5% |
| ENVA Enova International Inc. | 0.15% | 109,793 | $14.9M | Add +2095.9% |
| GOOG Alphabet Inc. Class C | 0.15% | 51,594 | $14.8M | Reduce -89.3% |
| KVUE Kenvue Inc. | 0.15% | 841,248 | $14.5M | Add +743.2% |
| HOOD Robinhood Markets Inc. Class A | 0.14% | 200,508 | $13.9M | Add +6764.4% |
| COLB Columbia Banking System Inc. | 0.13% | 468,474 | $12.9M | Add +33.9% |
| LRCX Lam Research Corp. | 0.13% | 60,065 | $12.8M | New |
| CORZ Core Scientific Inc. | 0.13% | 883,432 | $12.4M | Add +205.8% |
| SFBS Servisfirst Bancshares Inc. | 0.13% | 170,000 | $12.2M | Add +1384.2% |
| UUUU Energy Fuels Inc. | 0.13% | 668,755 | $12.2M | Add +3946.2% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.12% | 834,449 | $12.0M | New |
| FIGR Figure Technology Solut Class A | 0.12% | 350,157 | $11.9M | Add +725.1% |
| ABCB Ameris Bancorp | 0.12% | 150,000 | $11.7M | Add +39.4% |
| JPM JPMorgan Chase & Co. | 0.12% | 39,316 | $11.6M | Reduce -64.7% |
| AX Axos Financial Inc. | 0.12% | 135,129 | $11.5M | Add +440.5% |
| BAP Credicorp Ltd. | 0.12% | 33,802 | $11.5M | New |
| CRCL Circle Internet Group Inc. | 0.12% | 120,114 | $11.5M | Add +44.2% |
| GGAL Grupo Financiero Galicia-ADR | 0.12% | 252,650 | $11.2M | Add +158.2% |
| WULF Terawulf Inc. | 0.12% | 775,366 | $11.2M | Add +425.3% |
| AMAT Applied Materials Inc. | 0.12% | 32,721 | $11.2M | Add +99.0% |
| WWD Woodward Inc. | 0.11% | 30,711 | $11.0M | Add +213.7% |
| PH Parker Hannifin Corp. | 0.11% | 12,168 | $10.9M | Add +227.1% |
| WMB Williams Cos Inc. | 0.11% | 148,081 | $10.8M | Add +261.9% |
| BSX Boston Scientific Corp. | 0.11% | 171,568 | $10.8M | Reduce -14.5% |
| COF Capital One Financial Corp. | 0.11% | 58,439 | $10.7M | Add +522.0% |
| QCRH QCR Holdings Inc. filed as QCR HLDGS INC | 0.11% | 124,507 | $10.6M | Add +55.6% |
| BMY Bristol-Myers Squibb Co. | 0.11% | 170,511 | $10.3M | Reduce -38.3% |
| NBIS Nebius Group NV | 0.11% | 99,400 | $10.3M | Add +29.1% |
| ALB Albemarle Corp. | 0.11% | 57,318 | $10.3M | Add +148.3% |
| RGLD Royal Gold Inc. | 0.10% | 39,225 | $10.0M | Add +182.4% |
| CCB Coastal Financial Corp. | 0.10% | 130,000 | $9.9M | Add +18.2% |
| CRWV Coreweave Inc. Class A | 0.10% | 126,776 | $9.8M | Add +1545.2% |
| SII Sprott Inc. | 0.10% | 70,000 | $9.8M | Reduce -6.7% |
| BWXT BWX Technologies Inc. | 0.10% | 47,453 | $9.7M | Add +863.9% |
Options reported separately and not counted above: LQD puts ($299.7M), TLT calls ($281.7M), HYG calls ($198.9M), AGNC puts ($95.5M), AGNC calls ($30.1M), BABA calls ($28.5M), BABA puts ($28.5M), EEM puts ($28.4M), AMZN calls ($20.8M), ASML calls ($19.8M), ABNB puts ($17.7M), ABNB calls ($17.7M), and 90 more.
Other holdings (16): bonds, preferreds, convertibles and warrants · $327.1M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | 37,500,000 | $51.1M | Add +31.6% |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 25,000,000 | $33.5M | No change |
| SNOWFLAKE INC (SNOW 0 10/01/29) | NOTE 10/0 · principal | 25,000,000 | $30.2M | Add +150.0% |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 27,000,000 | $23.6M | New |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 20,000,000 | $23.6M | No change |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | 20,000,000 | $22.9M | New |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | 20,000,000 | $22.2M | Add +100.0% |
| JAZZ INVESTMENTS I LTD (JAZZ 3.125 09/15/30) | NOTE 3.125% 9/1 · principal | 15,000,000 | $21.1M | No change |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 20,000,000 | $20.8M | Add +60.0% |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/27) | NOTE 4.375% 6/0 · principal | 15,000,000 | $18.0M | No change |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 18,000,000 | $17.4M | New |
| FIRSTENERGY CORP (FE 4 05/01/26) | NOTE 4.000% 5/0 · principal | 15,000,000 | $16.3M | Reduce -25.0% |
| PINNACLE WEST CAPITAL (PNW 4.75 06/15/27) | NOTE 4.750% 6/1 · principal | 12,500,000 | $14.3M | Reduce -44.4% |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 10,000,000 | $11.0M | Reduce -56.5% |
| IQIYI INC (IQ 4.625 03/15/30) | NOTE 4.625% 3/1 · principal | 1,000,000 | $947K | New |
| BZFDW Buzzfeed Inc. -CW27 | *W EXP 12/03/202 | 603,324 | $9K | No change |
Total filed on the 13F, all lines: $10.0B.
Portfolio Sells Q4 2025 → Q1 2026
| FTKI FT Smallcap Buywrite Inc. ETF | Sold out | 0.00% | −9.46 |
| GOOGL Alphabet Inc. Class A | Reduce -85.3% | 0.24% | −3.36 |
| GOOG Alphabet Inc. Class C | Reduce -89.3% | 0.15% | −3.00 |
| IVV iShares Core S&P 500 ETF | Sold out | 0.00% | −2.34 |
| WMT Walmart Inc. | Reduce -83.5% | 0.19% | −1.86 |
| AVGO Broadcom Inc. | Reduce -90.0% | 0.07% | −1.47 |
| B Barrick Mining Corp. | Reduce -99.5% | 0.00% | −1.36 |
| AAPL Apple Inc. | Reduce -44.7% | 0.40% | −1.16 |
| BABA Alibaba Group Holding-SP ADR | Reduce -95.8% | 0.02% | −1.14 |
| NEM Newmont Corp. | Reduce -96.5% | 0.02% | −0.83 |
| BAC Bank of America Corp. | Reduce -74.9% | 0.09% | −0.73 |
| COHR Coherent Corp. | Reduce -94.1% | 0.03% | −0.69 |
| JPM JPMorgan Chase & Co. | Reduce -64.7% | 0.12% | −0.63 |
| C Citigroup Inc. | Reduce -50.9% | 0.16% | −0.54 |
| LITE Lumentum Holdings Inc. | Reduce -91.0% | 0.04% | −0.48 |
| FYBR Frontier Communications Pare | Sold out | 0.00% | −0.42 |
| AA Alcoa Corp. | Reduce -89.6% | 0.03% | −0.40 |
| TBBK The Bancorp Inc. | Reduce -86.3% | 0.02% | −0.35 |
| CME Cme Group Inc. | Reduce -8.3% | 0.31% | −0.33 |
| REGN Regeneron Pharmaceuticals | Reduce -98.3% | 0.00% | −0.32 |
| AMZN Amazon.com Inc. | Reduce -24.5% | 0.16% | −0.31 |
| BSX Boston Scientific Corp. | Reduce -14.5% | 0.11% | −0.29 |
| NOW ServiceNow Inc. | Sold out | 0.00% | −0.26 |
| BIIB Biogen Inc. | Sold out | 0.00% | −0.26 |
| LLY Eli Lilly & Co. | Reduce -7.8% | 0.16% | −0.26 |
| BIDU Baidu Inc. - Spon ADR | Sold out | 0.00% | −0.25 |
| GILD Gilead Sciences Inc. | Reduce -65.8% | 0.06% | −0.24 |
| PAM Pampa Energia SA-Spon ADR | Reduce -54.9% | 0.07% | −0.24 |
| PG The Procter & Gamble Co. | Reduce -89.9% | 0.01% | −0.24 |
| KEY Keycorp | Reduce -75.8% | 0.03% | −0.21 |
| BBIO Bridgebio Pharma Inc. | Reduce -53.0% | 0.06% | −0.21 |
| VIST Vista Energy Sab DE CV | Reduce -78.3% | 0.04% | −0.21 |
| AFL Aflac Inc. | Reduce -93.5% | 0.01% | −0.21 |
| TTD Trade Desk Inc./the Class A | Sold out | 0.00% | −0.21 |
| BMY Bristol-Myers Squibb Co. | Reduce -38.3% | 0.11% | −0.21 |
| MRK Merck & Co. Inc. | Reduce -55.7% | 0.07% | −0.21 |
| TFC Truist Financial Corp. | Reduce -84.6% | 0.02% | −0.20 |
| CW Curtiss-Wright Corp. | Reduce -75.8% | 0.03% | −0.20 |
| JNJ Johnson & Johnson | Reduce -66.5% | 0.05% | −0.19 |
| SOFI Sofi Technologies Inc. | Reduce -69.0% | 0.02% | −0.19 |
| ISRG Intuitive Surgical Inc. | Reduce -84.5% | 0.01% | −0.19 |
| SLB SLB Ltd. | Reduce -76.2% | 0.03% | −0.19 |
| GS Goldman Sachs Group Inc. | Reduce -67.2% | 0.03% | −0.18 |
| RL Ralph Lauren Corp. | Reduce -76.3% | 0.02% | −0.18 |
| CHTR Charter Communications Inc. Class A | Reduce -72.3% | 0.03% | −0.18 |
| SNDX Syndax Pharmaceuticals Inc. | Reduce -60.2% | 0.05% | −0.18 |
| FBK FB Financial Corp. | Reduce -95.9% | 0.00% | −0.18 |
| BLK BlackRock Inc. | Reduce -51.2% | 0.05% | −0.17 |
| WFC Wells Fargo & Co. | Reduce -54.4% | 0.04% | −0.17 |
| ASTS Ast Spacemobile Inc. | Sold out | 0.00% | −0.17 |
Portfolio Buys Q4 2025 → Q1 2026
| QQQ Invesco QQQ Trust Series 1 | Add +6636.5% | 8.82% | +8.54 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | New | 5.27% | +5.27 |
| IBIT iShares Bitcoin Trust ETF | Add +338.0% | 9.63% | +3.86 |
| NVDA Nvidia Corp. | Add +487.2% | 5.19% | +3.22 |
| PDD PDD Holdings Inc. | New | 3.04% | +3.04 |
| TSLA Tesla Inc. | Add +719.4% | 4.31% | +3.02 |
| FXI iShares China Large-Cap ETF | New | 2.23% | +2.23 |
| TLT iShares 20+ Year Treasury BD | Add +1618.8% | 2.46% | +2.17 |
| GLD SPDR Gold Shares | Add +42875.2% | 1.90% | +1.89 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Add +527.0% | 2.22% | +1.49 |
| XLF SS Financial Select Sector | New | 1.27% | +1.27 |
| EWZ iShares MSCI Brazil ETF | New | 1.22% | +1.22 |
| META Meta Platforms Inc. Class A | Add +10736.6% | 1.19% | +1.16 |
| BA The Boeing Co. | Add +9206.5% | 1.05% | +1.02 |
| PLTR Palantir Technologies Inc. Class A | Add +1644.6% | 1.16% | +0.99 |
| SCHW Schwab (charles) Corp. | Add +24698.7% | 0.75% | +0.74 |
| UBER Uber Technologies Inc. | Add +1763.8% | 0.81% | +0.71 |
| GM General Motors Co. | Add +22317.9% | 0.70% | +0.69 |
| MU Micron Technology Inc. | Add +1278.2% | 0.78% | +0.68 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +1150.0% | 0.71% | +0.60 |
| CRWD CrowdStrike Holdings Inc. Class A | New | 0.58% | +0.58 |
| NFLX Netflix Inc. | Add +621.0% | 0.79% | +0.57 |
| XLB SS Materials Select Sector | New | 0.52% | +0.52 |
| XLP SS Consumer Staples Sel Sect | New | 0.51% | +0.51 |
| MSFT Microsoft Corp. | Add +17070.1% | 0.60% | +0.50 |
| JD Jd.com Inc.-ADR | New | 0.49% | +0.49 |
| COP Conocophillips | New | 0.42% | +0.42 |
| COIN Coinbase Global Inc. Class A | Add +1894.1% | 0.43% | +0.37 |
| EWY iShares MSCI South Korea ETF | New | 0.37% | +0.37 |
| EEM iShares MSCI Emerging Market | New | 0.33% | +0.33 |
| KWEB Kranesh Csi China Internet | Add +3753.4% | 0.33% | +0.31 |
| FTI Technipfmc PLC | New | 0.30% | +0.30 |
| MCD McDonald's Corp. | Add +7699.8% | 0.29% | +0.29 |
| MTZ Mastec Inc. | Add +994.6% | 0.30% | +0.26 |
| XLY SS Consumer Disc Select Sect | New | 0.26% | +0.26 |
| SNDK Sandisk Corp. | Add +6.6% | 0.86% | +0.25 |
| DIS The Walt Disney Co. | Add +6567.0% | 0.25% | +0.24 |
| CVX Chevron Corp. | Add +5141.9% | 0.21% | +0.20 |
| FANG Diamondback Energy Inc. | Add +3989.5% | 0.20% | +0.20 |
| CMCSA Comcast Corp. Class A | Add +558.9% | 0.28% | +0.19 |
| XPO Xpo Inc. | New | 0.17% | +0.17 |
| TMUS T-Mobile US Inc. | Add +1580.1% | 0.19% | +0.17 |
| ABBV Abbvie Inc. | New | 0.17% | +0.17 |
| SPOT Spotify Technology SA | New | 0.16% | +0.16 |
| LNG Cheniere Energy Inc. | Add +579.3% | 0.19% | +0.15 |
| XOM Exxon Mobil Corp. | Add +348.8% | 0.21% | +0.14 |
| ENVA Enova International Inc. | Add +2095.9% | 0.15% | +0.14 |
| HOOD Robinhood Markets Inc. Class A | Add +6764.4% | 0.14% | +0.14 |
| LRCX Lam Research Corp. | New | 0.13% | +0.13 |
| NU Nu Holdings Ltd./Cayman Isl-A | New | 0.12% | +0.12 |
Options Activity Q4 2025 → Q1 2026
| IBIT iShares Bitcoin Trust ETF | call | Sold out | 8,058,800 | $400.1Mbefore exit |
| NVDA Nvidia Corp. | put | Sold out | 2,068,000 | $385.7Mbefore exit |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | Sold out | 4,403,200 | $355.0Mbefore exit |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | call | Sold out | 3,000,000 | $330.6Mbefore exit |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | put | Add +5.8% | 2,750,000 | $299.7M |
| TLT iShares 20+ Year Treasury BD | call | Add +225.0% | 3,250,000 | $281.7M |
| IBIT iShares Bitcoin Trust ETF | put | Sold out | 5,000,000 | $248.3Mbefore exit |
| QQQ Invesco QQQ Trust Series 1 | call | Sold out | 378,000 | $232.2Mbefore exit |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | call | Add +400.0% | 2,500,000 | $198.9M |
| PDD PDD Holdings Inc. | call | Sold out | 101,000 | $183.2Mbefore exit |
| PDD PDD Holdings Inc. | put | Sold out | 96,000 | $174.2Mbefore exit |
| AGNC AGNC Investment Corp. | put | Add +73.2% | 9,524,200 | $95.5M |
| TLT iShares 20+ Year Treasury BD | put | Sold out | 1,000,000 | $87.2Mbefore exit |
| XHB SS SPDR S&P Homebldrs ETF | call | Sold out | 660,000 | $68.0Mbefore exit |
| BIDU Baidu Inc. - Spon ADR | call | Sold out | 445,800 | $57.8Mbefore exit |
| XLU St Sr Utl SL SE SPDR ETF-Usd | put | Sold out | 1,300,000 | $55.5Mbefore exit |
| ASHR Xtrackers Harvest Csi 300 CH | call | Sold out | 1,575,000 | $51.7Mbefore exit |
| WU Western Union Co. | call | Sold out | 4,311,200 | $40.1Mbefore exit |
| AGNC AGNC Investment Corp. | call | New | 3,000,000 | $30.1M |
| ORCL Oracle Corp. | call | Sold out | 150,000 | $29.4Mbefore exit |
| SNOW Snowflake Inc. | put | Sold out | 131,300 | $28.8Mbefore exit |
| XLK SS Technology Select Sector | put | Sold out | 200,000 | $28.8Mbefore exit |
| IWM iShares Russell 2000 ETF | call | Sold out | 116,000 | $28.6Mbefore exit |
| BABA Alibaba Group Holding-SP ADR | call | Reduce -6.0% | 233,300 | $28.5M |
| BABA Alibaba Group Holding-SP ADR | put | Reduce -62.0% | 233,200 | $28.5M |
| EEM iShares MSCI Emerging Market | put | New | 500,000 | $28.4M |
| CMCSA Comcast Corp. Class A | call | Sold out | 900,000 | $26.9Mbefore exit |
| KBE SS SPDR S&P Bank ETF | call | Sold out | 400,000 | $24.3Mbefore exit |
| XLB SS Materials Select Sector | call | Sold out | 500,000 | $22.7Mbefore exit |
| XLB SS Materials Select Sector | put | Sold out | 500,000 | $22.7Mbefore exit |
| LLY Eli Lilly & Co. | call | Sold out | 20,000 | $21.6Mbefore exit |
| XLU St Sr Utl SL SE SPDR ETF-Usd | call | Sold out | 500,000 | $21.3Mbefore exit |
| AMZN Amazon.com Inc. | call | New | 100,000 | $20.8M |
| ASML ASML Holding NV-NY Reg SHS | call | New | 15,000 | $19.8M |
| ABNB Airbnb Inc. Class A | put | New | 143,300 | $17.7M |
| ABNB Airbnb Inc. Class A | call | New | 143,100 | $17.7M |
| XLF SS Financial Select Sector | put | New | 332,358 | $16.4M |
| AMD Advanced Micro Devices | call | Sold out | 74,900 | $16.0Mbefore exit |
| EEM iShares MSCI Emerging Market | call | New | 279,453 | $15.9M |
| AAPL Apple Inc. | call | New | 60,000 | $15.2M |
| AAPL Apple Inc. | put | New | 60,000 | $15.2M |
| DIS The Walt Disney Co. | put | New | 154,100 | $14.5M |
| XOM Exxon Mobil Corp. | put | Sold out | 116,000 | $14.0Mbefore exit |
| XOM Exxon Mobil Corp. | call | Sold out | 116,000 | $14.0Mbefore exit |
| FCX Freeport-McMoran Inc. | call | Sold out | 225,000 | $11.4Mbefore exit |
| WMT Walmart Inc. | call | Sold out | 100,000 | $11.1Mbefore exit |
| MDLN Medline Inc. Class A | put | New | 242,602 | $10.8M |
| IBM Intl Business Machines Corp. | call | Sold out | 33,300 | $9.9Mbefore exit |
| BIDU Baidu Inc. - Spon ADR | put | Sold out | 75,000 | $9.8Mbefore exit |
| NOW ServiceNow Inc. | call | New | 92,331 | $9.7M |
Showing the first 50 of 178.
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2025 → Q1 2026
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | Add +31.6% | 37,500,000 | $51.1M |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | Sold out | 33,000,000 | $37.4Mbefore exit |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Sold out | 30,000,000 | $31.4Mbefore exit |
| SNOWFLAKE INC (SNOW 0 10/01/29) | NOTE 10/0 · principal | Add +150.0% | 25,000,000 | $30.2M |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | Sold out | 24,000,000 | $23.8Mbefore exit |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | New | 27,000,000 | $23.6M |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | New | 20,000,000 | $22.9M |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | Add +100.0% | 20,000,000 | $22.2M |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | Sold out | 20,000,000 | $20.9Mbefore exit |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | Add +60.0% | 20,000,000 | $20.8M |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | NOTE 0.250% 5/1 · principal | Sold out | 20,000,000 | $20.7Mbefore exit |
| ANI PHARMACEUTICALS INC (ANIP 2.25 09/01/29) | NOTE 2.250% 9/0 · principal | Sold out | 15,000,000 | $19.1Mbefore exit |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | New | 18,000,000 | $17.4M |
| FIRSTENERGY CORP (FE 4 05/01/26) | NOTE 4.000% 5/0 · principal | Reduce -25.0% | 15,000,000 | $16.3M |
| PINNACLE WEST CAPITAL (PNW 4.75 06/15/27) | NOTE 4.750% 6/1 · principal | Reduce -44.4% | 12,500,000 | $14.3M |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | Reduce -56.5% | 10,000,000 | $11.0M |
| WORLD KINECT GROUP (WKC 3.25 07/01/28) | NOTE 3.250% 7/0 · principal | Sold out | 10,000,000 | $10.6Mbefore exit |
| Q2 HOLDINGS INC (QTWO 0.75 06/01/26) | NOTE 0.750% 6/0 · principal | Sold out | 10,000,000 | $10.2Mbefore exit |
| DAYFORCE INC (DAY 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Sold out | 10,000,000 | $9.9Mbefore exit |
| WISDOMTREE INVESTMENTS (WT 3.25 06/15/26) | NOTE 3.250% 6/1 · principal | Sold out | 7,000,000 | $8.2Mbefore exit |
| SNOWFLAKE INC (SNOW 0 10/01/27) | NOTE 10/0 · principal | Sold out | 5,000,000 | $7.6Mbefore exit |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | Sold out | 5,000,000 | $4.9Mbefore exit |
| SEA LTD (SEALTD 0.25 09/15/26) | NOTE 0.250% 9/1 · principal | Sold out | 3,023,000 | $2.9Mbefore exit |
| IQIYI INC (IQ 4.625 03/15/30) | NOTE 4.625% 3/1 · principal | New | 1,000,000 | $947K |
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 |