BH Macro Limited (BHMDF)
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
BH Macro Limited (BHMDF) trades at $4.54 with AI Score 45/100 (Grade C). BH Macro Limited operates as a feeder fund, investing its entire capital into the Brevan Howard Master Fund Limited. Market cap: $1.64B, Sector: Financial services.
Price live · AI analysis from Mar 16, 2026Analyst Coverage for BHMDF: BHMDF does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates BHMDF against Financial Services peers across nine fundamental dimensions and assigns an underweight signal based on the underlying data.
BHMDF: the 1 perspectives are evenly split.
How is this calculated? →BH Macro Limited (BHMDF) Financial Services Profile
BH Macro Limited, managed by Brevan Howard Asset Management LLP, is a feeder fund providing access to a diversified portfolio of macro trading strategies. With a substantial market capitalization, the company offers investors exposure to alternative investments, distinguishing itself through a high profit margin and low beta relative to broader market indices.
What Is the Investment Thesis for BHMDF?
BH Macro Limited presents a notable research candidate for those seeking exposure to macro trading strategies managed by Brevan Howard. The company's high profit margin of 173.3% indicates efficient operations and successful investment outcomes. With a market capitalization of $1.64B, BH Macro offers liquidity and scale. The low beta of 0.14 suggests a relatively low correlation with broader market movements, potentially providing diversification benefits. However, investors should carefully consider the risks associated with feeder fund structures and the dependence on the performance of the Brevan Howard Master Fund. Key value drivers include Brevan Howard's ability to generate consistent returns and effectively manage risk in various market conditions. Upcoming catalysts include potential shifts in global macroeconomic trends that could create opportunities for macro trading strategies.
Based on FMP financials and quantitative analysis
BHMDF Key Highlights
- Market capitalization of $1.64B, indicating substantial size and liquidity.
- P/E ratio of 7.68, suggesting a potentially undervalued investment relative to earnings.
- Profit margin of 173.3%, reflecting efficient operations and successful investment strategies.
- Gross margin of 100.0%, indicating no cost of goods sold, typical for a feeder fund structure.
- Beta of 0.14, suggesting low correlation with broader market movements, offering diversification benefits.
Who Are BHMDF's Competitors?
BHMDF is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| AIFLF Aiful Corporation | $3.05 | +0.00% | $1.46B | 55 |
| BDVC Franklin BSP Lending Corporation | $3.50 | -65.75% | $814.46M | 46 |
| FECHF Fidelity China Special Situations PLC | $3.49 | +0.00% | $1.60B | 51 |
| HMCBF Home Capital Group Inc. | $32.52 | +0.34% | $1.24B | 48 |
| MBAKF mBank S.A. | $39.88 | +0.00% | $1.70B | 58 |
| NXDT NexPoint Diversified Real Estate Trust | $5.53 | +3.08% | $285.77M | 73 |
| GENB Generate Biomedicines, Inc. | $17.03 | -2.18% | $2.18B | 72 |
| SII Sprott Inc. | $118.11 | +2.72% | $3.05B | 71 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are BHMDF's Key Strengths?
- Access to Brevan Howard's expertise in macro trading.
- High profit margin of 173.3%.
- Low beta of 0.14, indicating low correlation with market movements.
- Established track record of performance.
What Are BHMDF's Weaknesses?
- Dependence on the performance of the Brevan Howard Master Fund.
- Feeder fund structure limits investment flexibility.
- Lack of dividend payments may deter some investors.
- Limited control over investment decisions.
What Could Drive BHMDF Stock Higher?
- Shifts in global macroeconomic trends creating opportunities for macro trading strategies.
- Investor demand for alternative investments and diversification.
- Potential expansion into new geographic markets.
- Development of new investment products.
- Strategic partnerships with institutional investors.
What Are the Key Risks for BHMDF?
- Increased regulatory scrutiny of alternative investments.
- Changes in global macroeconomic conditions impacting investment performance.
- Competition from other macro hedge funds.
- Losses in adverse market conditions.
- Dependence on the performance of the Brevan Howard Master Fund.
What Are the Growth Opportunities for BHMDF?
- Expansion into new geographic markets: BH Macro could attract investors from regions with growing interest in alternative investments, such as Asia and the Middle East. This expansion could significantly increase the fund's assets under management (AUM) and revenue. The timeline for this growth opportunity is estimated at 3-5 years, contingent on regulatory approvals and market penetration efforts. The market size for alternative investments in these regions is projected to reach $1 trillion by 2030.
- Development of new investment products: BH Macro could diversify its offerings by launching new feeder funds focused on specific macro strategies or asset classes. This would cater to a wider range of investor preferences and risk profiles. The timeline for developing and launching new products is estimated at 1-2 years, requiring careful market research and product development. The market size for specialized macro strategies is estimated at $500 billion.
- Strategic partnerships with institutional investors: BH Macro could forge partnerships with pension funds, sovereign wealth funds, and other institutional investors to secure long-term capital commitments. This would provide a stable funding base and enhance the fund's credibility. The timeline for establishing strategic partnerships is estimated at 1-3 years, requiring relationship-building and negotiation. The market size for institutional investments in alternative assets is estimated at $2 trillion.
- Enhancement of risk management capabilities: BH Macro could invest in advanced risk management systems and expertise to mitigate potential losses and enhance investor confidence. This would strengthen the fund's reputation and attract risk-averse investors. The timeline for enhancing risk management capabilities is ongoing, requiring continuous monitoring and improvement. The market value of risk management services in the financial industry is estimated at $100 billion.
- Increased transparency and investor communication: BH Macro could improve its transparency and communication with investors by providing more detailed information on its investment strategies, performance, and risk management practices. This would build trust and attract investors seeking greater clarity. The timeline for enhancing transparency and communication is ongoing, requiring continuous effort and improvement. The market value of investor relations services in the financial industry is estimated at $50 billion.
What Opportunities Does BHMDF Have?
- Expansion into new geographic markets.
- Development of new investment products.
- Strategic partnerships with institutional investors.
- Enhancement of risk management capabilities.
What Threats Does BHMDF Face?
- Increased regulatory scrutiny of alternative investments.
- Changes in global macroeconomic conditions.
- Competition from other macro hedge funds.
- Potential for losses in adverse market conditions.
What Are BHMDF's Competitive Advantages?
- Access to Brevan Howard's expertise in macro trading strategies.
- Established track record of performance in various market conditions.
- Diversified portfolio of investments across global markets.
- Low correlation with broader market movements, providing diversification benefits.
What Does BHMDF Do?
BH Macro Limited, established on January 17, 2007, functions as a feeder fund, channeling all its investments into the Brevan Howard Master Fund Limited. Managed by Brevan Howard Asset Management LLP, the company provides investors with access to a range of macro-oriented investment strategies. These strategies typically involve trading in global fixed income, foreign exchange, and commodity markets, aiming to generate returns irrespective of the overall market direction. The company is domiciled in Guernsey, Channel Islands, reflecting its operational base and regulatory environment. BH Macro's structure allows investors to gain exposure to Brevan Howard's expertise in navigating complex and dynamic market conditions. The fund's performance is closely tied to the success of Brevan Howard's investment decisions and the effectiveness of its risk management practices. With a market capitalization of $1.64B, BH Macro represents a significant player in the alternative investment space, offering a specialized investment vehicle for those seeking diversification and absolute return potential.
What Products and Services Does BHMDF Offer?
- BH Macro Limited acts as a feeder fund.
- It invests all its capital into the Brevan Howard Master Fund Limited.
- It provides investors access to Brevan Howard's macro investment strategies.
- It offers exposure to global fixed income, foreign exchange, and commodity markets.
- It aims to generate returns irrespective of the overall market direction.
- It is managed by Brevan Howard Asset Management LLP.
How Does BHMDF Make Money?
- BH Macro Limited generates revenue through management fees charged on its assets under management (AUM).
- The company's profitability is directly linked to the performance of the Brevan Howard Master Fund Limited.
- It benefits from economies of scale as AUM increases, allowing for higher fee income.
What Industry Does BHMDF Operate In?
BH Macro Limited operates within the asset management industry, specifically focusing on alternative investments and macro trading strategies. The industry is characterized by increasing demand for diversification and absolute return potential, driving growth in macro hedge funds. The competitive landscape includes firms offering similar investment strategies, requiring BH Macro to differentiate itself through performance and risk management. Market trends include increased regulatory scrutiny and investor demand for transparency. BH Macro's feeder fund structure positions it as a specialized player within this broader industry, providing access to Brevan Howard's expertise.
Who Are BHMDF's Key Customers?
- Institutional investors seeking exposure to macro trading strategies.
- High-net-worth individuals looking for diversification and absolute return potential.
- Pension funds and sovereign wealth funds seeking alternative investment options.
F-Score 6/9Financial Health
BH Macro Limited's Piotroski F-Score is 6/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile.
Quarterly Financial Performance: BH Macro Limited
Revenue for BH Macro Limited came in at $10.3M during Q2 2025, a 92.4% contraction versus the preceding quarter. The company recorded net income of $80.7M, with diluted EPS of $0.23. Quarter-over-quarter revenue has been mixed, typical for a small-cap company operating in Financial Services.
BHMDF Valuation & Market Position
With a $1.64B market cap, BH Macro Limited sits in the small-cap segment of the market. Relative to its peer group, BHMDF's quantitative score of 45/100 is roughly in line with the peer average of 52/100.
ROE 7%Key Financial Metrics
Return on equity for BH Macro Limited stands at 7.4%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 7.6%, showing how much profit it generates from its asset base. BHMDF trades at a trailing price-to-earnings ratio of 12.38, below the Financial Services sector average of ~18x. Its free cash flow yield is 6.5%, a gauge of the cash the business throws off relative to its market value. A current ratio of 4.47 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is 8.1%, the inverse of the P/E and a quick read on earnings relative to price.
Company Profile
BH Macro Limited operates in the Asset Management industry within the Financial Services sector. It is headquartered in St. Helier, JE. The company is led by CEO David Arnold Barton. BHMDF has traded publicly since 2008.
BHMDF Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2024
Bull Case vs Bear Case
Bull Case
- Access to Brevan Howard's expertise in macro trading.
- High profit margin of 173.3%.
- Low beta of 0.14, indicating low correlation with market movements.
- Established track record of performance.
Bear Case
- Dependence on the performance of the Brevan Howard Master Fund.
- Feeder fund structure limits investment flexibility.
- Lack of dividend payments may deter some investors.
- Limited control over investment decisions.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · July 2026
Recent Quarterly Results
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q2 2025 | $10M | $81M | $0.23 |
| Q4 2024 | $135M | $108M | $0.28 |
| Q2 2024 | $17M | -$50M | -$0.13 |
Based on FMP financials and quantitative analysis
BHMDF Latest News
No recent news available for BHMDF.
BHMDF Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for BHMDF.
Price Targets
Wall Street price target analysis for BHMDF.
BHMDF MoonshotScore
What does this score mean?
The MoonshotScore rates BHMDF's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Leadership: David Arnold Barton
Director
David Arnold Barton serves as a Director of BH Macro Limited. Information regarding his detailed career history, education, and previous roles is not available in the provided data. Further research would be required to provide a comprehensive background profile.
Track Record: Due to limited information, David Arnold Barton's specific achievements and strategic decisions as a Director of BH Macro Limited cannot be detailed. Further research is needed to assess his track record and contributions to the company's performance.
BHMDF OTC Market Information
The OTC Other tier represents the lowest tier of the OTC market, indicating that BH Macro Limited may not meet the minimum financial reporting standards required for higher tiers like OTCQX or OTCQB. Companies in this tier may have limited or no financial disclosure, increasing the risk for investors. Unlike NYSE or NASDAQ-listed companies, OTC Other firms often have less stringent listing requirements, leading to greater variability in company quality and transparency. Investing in OTC Other stocks carries a higher degree of risk compared to stocks listed on major exchanges due to the potential for limited information and regulatory oversight.
- OTC Tier: OTC Other
- Disclosure Status: Unknown
- Limited financial disclosure increases investment risk.
- Lower trading volume and liquidity can lead to price volatility.
- Wider bid-ask spreads can increase transaction costs.
- Potential for limited regulatory oversight and investor protection.
- Higher risk of fraud or manipulation compared to exchange-listed stocks.
- Verify the company's financial statements and disclosures.
- Research the company's management team and their track record.
- Assess the company's business model and competitive landscape.
- Evaluate the company's risk factors and potential liabilities.
- Monitor trading volume and price activity for unusual patterns.
- Consult with a financial advisor before investing.
- Confirm the legitimacy of the company's operations and assets.
- The company is managed by Brevan Howard Asset Management LLP, a reputable firm.
- BH Macro Limited has a substantial market capitalization of $1.64B.
- The company has a high profit margin of 173.3%.
- The company was established in 2007, indicating a history of operations.
- The company's feeder fund structure provides access to Brevan Howard's expertise.
BH Macro Limited Financial Services Stock: Key Questions Answered
What does BH Macro Limited do?
BH Macro Limited functions as a feeder fund, channeling all its investments into the Brevan Howard Master Fund Limited. This structure allows investors to gain exposure to Brevan Howard's expertise in navigating complex and dynamic global markets, specifically in fixed income, foreign exchange, and commodities. The company aims to generate returns irrespective of the overall market direction by employing various macro-oriented investment strategies. BH Macro's role is to provide a vehicle for investors seeking access to these strategies, managed by a well-established asset management firm.
What are the main risks for BHMDF?
The primary risk for BH Macro Limited is its dependence on the performance of the Brevan Howard Master Fund, as its investment returns are entirely tied to the Master Fund's success. Changes in global macroeconomic conditions, such as interest rate fluctuations or geopolitical events, could negatively impact the Master Fund's performance. Additionally, increased regulatory scrutiny of alternative investments and competition from other macro hedge funds pose potential challenges. Investors should also consider the risks associated with the feeder fund structure and the potential for losses in adverse market conditions.
What are the key factors to evaluate for BHMDF?
BH Macro Limited (BHMDF) holds an AI score of 45/100 (low). Not financial advice.
How frequently does BHMDF data refresh on this page?
BHMDF prices update in real time during U.S. market hours. Fundamentals refresh after quarterly filings; analyst ratings and AI insights update daily; news is aggregated continuously.
What has driven BHMDF's recent stock price performance?
BH Macro Limited (BHMDF) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Access to Brevan Howard's expertise in macro trading. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider BHMDF overvalued or undervalued right now?
Valuing BH Macro Limited (BHMDF) requires multiple metrics. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
What research should beginners do before buying BHMDF?
Before investing in BH Macro Limited (BHMDF), research these four areas: (1) the company's revenue model and competitive position (see Company Overview), (2) financial health through revenue growth, margins, and cash flow (see MoonshotScore), (3) what Wall Street analysts recommend and their price targets (see Analyst tab), and (4) specific risk factors that could impact the stock (see Risk Factors section).
Why might investors consider adding BHMDF to a portfolio?
Key strength of BH Macro Limited (BHMDF): Access to Brevan Howard's expertise in macro trading. Weigh rewards against risks and diversify. Not financial advice.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Information is based on available data and may be subject to change.
- AI analysis is pending for BHMDF.