13F-HR 1 efc11-133_fm13fhr.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 2010 ----------------- Check here if Amendment []: Amendment Number: --------- This Amendment (Check only one): [ ] is a restatement [ ] adds new holdings entries Institutional Investment Manager Filing this Report: Name: Brevan Howard Capital Management LP Address: 4th Floor, One Esplanade St Helier, Jersey, JE2 3AD, Channel Islands Form 13F File Number: To be determined after filing ----------------------------- The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: David Barton Title: Authorized Signatory Phone: +44 1534 605 427 Signature, Place and Date of Signing: /s/ David Barton St Helier, Jersey February 14, 2011 --------------------------------- ---------------------- ----------------- [Signature] [City, State] [Date] *NOTE: THE INVESTMENT MANAGER FILING THIS REPORT IS DEEMED TO HAVE INVESTMENT DISCRETION WITH RESPECT TO SECURITIES OVER WHICH BREVAN HOWARD INVESTMENT PRODUCTS LIMITED ("BHIPL"), A SUBSIDIARY OF THE INVESTMENT MANAGER, EXERCISES INVESTMENT DISCRETION AS A RESULT OF THE INVESTMENT MANAGER HAVING CONTROL OVER BHIPL. THE INVESTMENT MANAGER, HOWEVER, DOES NOT HAVE CONTROL OVER BREVAN HOWARD ASSET MANAGEMENT LLP (UK) ("BHAM") AND, THEREFORE, IS NOT INCLUDING ANY POSITIONS OVER WHICH BHAM EXERCISES INVESTMENT DISCRETION. BHAM HAS THUS FILED A SEPARATE FORM 13F REPORTING SECURITIES OVER WHICH IT HAS INVESTMENT DISCRETION. Report Type (Check only one): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 -------------- Form 13F Information Table Entry Total: 6 -------------- Form 13F Information Table Value Total: $1,331,632 -------------- (in thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. No. Form 13F File Number Name 1 Brevan Howard Investment Products Limited
BREVAN HOWARD CAPITAL MANAGEMENT LP FORM 13F INFORMATION TABLE Quarter Ended December 31, 2010 ----------------------------------------------------------------------------------------------------------------------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY -------- ------- --- ---- ---------- ----- --------------------- NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ----------------------------------------------------------------------------------------------------------------------------------- GENERAL MTRS CO JR PFD CNV SRB 37045V209 37,877 700,000 PRN DEFINED 1 NONE ISHARES TR MSCI EMERG MKT 464287234 411,751 8,642,600 SH DEFINED 1 8,642,600 ISHARES TR MSCI EMERG MKT 464287234 301,407 6,326,500 SH CALL DEFINED 1 6,326,500 POWERSHARES QQQ TRUST UNIT SER 1 73935A104 353,990 6,500,000 SH CALL DEFINED 1 6,500,000 SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 159,500 10,000,000 SH CALL DEFINED 1 10,000,000 SPDR SERIES TRUST SPDR KBW BK ETF 78464A797 67,107 2,590,000 SH DEFINED 1 2,590,000