Brevan Howard Capital Management Cuts Bristol Myers Squibb Stake

Hedge fund reduces position in pharmaceutical company by over 55% in Q3

Mar. 17, 2026 at 8:19am

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Brevan Howard Capital Management LP, a prominent hedge fund, reduced its stake in Bristol Myers Squibb Company (NYSE:BMY) by 55.5% during the third quarter, according to a recent filing with the Securities and Exchange Commission. The firm now owns 72,658 shares of the biopharmaceutical company's stock, down from 163,252 shares previously.

Why it matters

This reduction in Brevan Howard's position in Bristol Myers Squibb is noteworthy as it suggests the hedge fund may have a less bullish outlook on the pharmaceutical company's prospects compared to the prior quarter. Changes in institutional ownership can provide insights into investor sentiment around a stock.

The details

According to the filing, Brevan Howard Capital Management sold 90,594 shares of Bristol Myers Squibb during the third quarter. The firm's remaining stake in the company is valued at $3,277,000 as of the end of the quarter.

  • Brevan Howard Capital Management reduced its Bristol Myers Squibb position during the third quarter of 2026.

The players

Brevan Howard Capital Management LP

A prominent global macro hedge fund based in the United Kingdom.

Bristol Myers Squibb Company

A major biopharmaceutical company headquartered in Princeton, New Jersey that focuses on discovering, developing, and delivering medicines for serious diseases.

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The takeaway

This reduction in Brevan Howard's position in Bristol Myers Squibb could signal a shift in investor sentiment around the pharmaceutical company, though more context would be needed to fully understand the hedge fund's rationale for the move.