UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F COVER PAGE
OMB APPROVAL
OMB Number:3235-0006
Expires:July 31, 2015
Estimated average burden
hours per response:23.8
Report for the Calendar Year or Quarter Ended:
12-31-2024
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:
BlueCrest Capital Management Ltd
Address:
GROUND FLOOR, HARBOUR REACH
LA RUE DE CARTERET
ST HELIER, Y9 JE2 4HR
Form 13F File Number:
028-16345

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:
Margot Marshall
Title:
Head of Compliance
Phone:
44-20-3180-3040


Signature, Place, and Date of Signing:

/s/ Margot Marshall
                         [Signature]
London, UNITED KINGDOM
                 [City, State]
02-14-2025
                           [Date]
                          

Report Type (Check only one.):

☒ 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:
0
Form 13F Information table Entry Total:
95
Form 13F Information table Value Total:
3545596394
          (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.
[If there are no entries in this list, state "NONE" and omit the column headings and list entries.]

  
NONE


UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number:3235-0006
Expires:July 31, 2015
Estimated average burden
hours per response:23.8
COLUMN 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
AIR TRANS SVCS GROUP INCNOTE 3.875% 8/100922RAD72,372,2032,388,000PRNOTR 0 0 2,388,000
AKAMAI TECHNOLOGIES INCNOTE 0.375% 9/000971TAL54,909,5644,883,000PRNOTR 0 0 4,883,000
AKAMAI TECHNOLOGIES INCNOTE 1.125% 2/100971TAN112,157,52112,445,000PRNOTR 0 0 12,445,000
ALBEMARLE CORP7.25% DEP SHS A0126532005,829,738143,272SHOTR 0 143,272 0
APOLLO GLOBAL MGMT INCSER A MAND CNV03769M3045,572,23564,115SHOTR 0 64,115 0
ARES MANAGEMENT CORPORATION6.75 SE B PFD03990B30916,757,478304,460SHOTR 0 304,460 0
BOEING CODEP CONV PFD A09702320412,918,422212,160SHOTR 0 212,160 0
BRIGHTSPRING HEALTH SVCS INCUNIT 02/01/202710950A2056,300,878100,653SHOTR 0 100,653 0
CALUMET INCCOM1314281041,101,00050,000SHOTR 0 50,000 0
CAPITAL SOUTHWEST CORPNOTE 5.125%11/1140501AE71,465,4031,500,000PRNOTR 0 0 1,500,000
CAPRI HOLDINGS LIMITEDSHSG1890L107473,85022,500SHCallOTR 0 22,500 0
CBOE GLOBAL MKTS INCCOM12503M108484,3972,479SHOTR 0 2,479 0
CHART INDS INC6.75DP CNV PFD B16115Q4072,657,37837,704SHOTR 0 37,704 0
CLOUDFLARE INCNOTE 8/118915MAC14,798,8755,000,000PRNOTR 0 0 5,000,000
CME GROUP INCCOM12572Q1051,393,3806,000SHOTR 0 6,000 0
COINBASE GLOBAL INCCOM CL A19260Q1072,060,8908,300SHOTR 0 8,300 0
COLLEGIUM PHARMACEUTICAL INCNOTE 2.875% 2/119459JAC82,628,1252,500,000PRNOTR 0 0 2,500,000
CRITEO S ASPONS ADS22671810489,405,6002,260,000SHOTR 0 2,260,000 0
DBX ETF TRXTRACK HRVST CSI233051879159,761,1676,035,556SHOTR 0 6,035,556 0
DBX ETF TRXTRACK HRVST CSI233051879166,099,2506,275,000SHCallOTR 0 6,275,000 0
DBX ETF TRXTRACK HRVST CSI233051879117,661,7974,445,100SHPutOTR 0 4,445,100 0
DISNEY WALT COCOM254687106334,0503,000SHOTR 0 3,000 0
ENCORE CAP GROUP INCNOTE 4.000% 3/1292554AP72,022,7002,000,000PRNOTR 0 0 2,000,000
FORD MTR COCOM34537086099,00010,000SHPutOTR 0 10,000 0
GENERAC HLDGS INCCOM368736104313,0462,019SHOTR 0 2,019 0
GEO GROUP INC NEWCOM36162J10634,455,5791,231,436SHOTR 0 1,231,436 0
HEWLETT PACKARD ENTERPRISE C7.625 MAND CONV42824C2083,160,45950,398SHOTR 0 50,398 0
INDIE SEMICONDUCTOR INCCLASS A COM45569U101301,32074,400SHCallOTR 0 74,400 0
INNOVATE CORPNOTE 7.500% 8/0404139AG2479,6251,383,000PRNOTR 0 0 1,383,000
INTEGER HLDGS CORPNOTE 2.125% 2/145826HAB513,861,0508,666,000PRNOTR 0 0 8,666,000
INTERDIGITAL INCNOTE 3.500% 6/045867GAD331,891,09312,650,000PRNOTR 0 0 12,650,000
INVESCO QQQ TRUNIT SER 146090E103166,149,750325,000SHCallOTR 0 325,000 0
INVESCO QQQ TRUNIT SER 146090E10312,780,75025,000SHPutOTR 0 25,000 0
IONIS PHARMACEUTICALS INCCOM462222100915,95226,200SHOTR 0 26,200 0
ISHARES BITCOIN TRUST ETFSHS BEN INT46438F10162,653,4821,181,027SHOTR 0 1,181,027 0
ISHARES BITCOIN TRUST ETFSHS BEN INT46438F10153,050,0001,000,000SHCallOTR 0 1,000,000 0
ISHARES BITCOIN TRUST ETFSHS BEN INT46438F101795,75015,000SHPutOTR 0 15,000 0
ISHARES INCMSCI BRAZIL ETF46428640032,526,9501,445,000SHCallOTR 0 1,445,000 0
ISHARES INCMSCI GERMANY ETF46428680612,728,000400,000SHPutOTR 0 400,000 0
ISHARES TRBROAD USD HIGH46435U853608,21216,532SHOTR 0 16,532 0
ISHARES TRCORE S&P500 ETF464287200902,268,0701,532,697SHOTR 0 1,532,697 0
ISHARES TRIBOXX HI YD ETF46428851320,352,418258,772SHOTR 0 258,772 0
ISHARES TRIBOXX HI YD ETF46428851347,221,460600,400SHPutOTR 0 600,400 0
ISHARES TRIBOXX INV CP ETF46428724210,684,000100,000SHOTR 0 100,000 0
ISHARES TRIBOXX INV CP ETF464287242267,100,0002,500,000SHCallOTR 0 2,500,000 0
ISHARES TRJPMORGAN USD EMG46428828135,616,000400,000SHPutOTR 0 400,000 0
ISHARES TRMSCI EMG MKT ETF46428723420,910,000500,000SHCallOTR 0 500,000 0
ISHARES TRMSCI EMG MKT ETF4642872346,273,000150,000SHPutOTR 0 150,000 0
ISHARES TRRUSSELL 2000 ETF464287655684,9763,100SHOTR 0 3,100 0
ISHARES TRRUSSELL 2000 ETF46428765519,886,40090,000SHPutOTR 0 90,000 0
ITRON INCNOTE 3/1465741AN63,117,2403,000,000PRNOTR 0 0 3,000,000
JETBLUE AWYS CORPCOM477143101314,40040,000SHPutOTR 0 40,000 0
JUNIPER NETWORKS INCCOM48203R1042,599,77969,420SHOTR 0 69,420 0
JUNIPER NETWORKS INCCOM48203R1041,213,38032,400SHCallOTR 0 32,400 0
JUNIPER NETWORKS INCCOM48203R1042,321,90062,000SHPutOTR 0 62,000 0
KRANESHARES TRUSTCSI CHI INTERNET50076730612,163,840416,000SHOTR 0 416,000 0
MFA FINL INCCOM55272X6071,703,360167,160SHOTR 0 167,160 0
MICRON TECHNOLOGY INCCOM595112103841,60010,000SHPutOTR 0 10,000 0
MICROSOFT CORPCOM594918104252,900600SHOTR 0 600 0
MICROSOFT CORPCOM59491810410,411,05024,700SHCallOTR 0 24,700 0
MICROSTRATEGY INCCL A NEW5949724081,431,3024,942SHOTR 0 4,942 0
NEW ORIENTAL ED & TECHNOLOGYSPON ADR6475812061,014,04415,800SHOTR 0 15,800 0
NEXTERA ENERGY INCUNIT 06/01/202765339F6636,907,883141,584SHOTR 0 141,584 0
NEXTERA ENERGY INCUNIT 09/01/202565339F7135,414,289132,314SHOTR 0 132,314 0
NEXTERA ENERGY INCUNIT 11/01/202765339F11925,121,906550,919SHOTR 0 550,919 0
ON SEMICONDUCTOR CORPCOM6821891051,115,98517,700SHOTR 0 17,700 0
ORMAT TECHNOLOGIES INCNOTE 2.500% 7/1686688AB87,637,6767,722,000PRNOTR 0 0 7,722,000
OWENS CORNING NEWCOM690742101263,1441,545SHOTR 0 1,545 0
PDD HOLDINGS INCSPONSORED ADS722304102969,90010,000SHPutOTR 0 10,000 0
PG&E CORPNOTE 4.250%12/069331CAL210,511,3369,660,000PRNOTR 0 0 9,660,000
PG&E CORPPFD CONV SER A69331C30623,336,872468,706SHOTR 0 468,706 0
REDDIT INCCL A75734B1004,903,20030,000SHOTR 0 30,000 0
RITHM CAPITAL CORPCOM NEW64828T20123,118,3792,134,661SHOTR 0 2,134,661 0
RUBRIK INC.CL A7811541091,634,00025,000SHOTR 0 25,000 0
SELECT SECTOR SPDR TRENERGY81369Y506403,9734,716SHOTR 0 4,716 0
SELECT SECTOR SPDR TRENERGY81369Y50629,981,000350,000SHCallOTR 0 350,000 0
SELECT SECTOR SPDR TRFINANCIAL81369Y60529,432,970609,000SHOTR 0 609,000 0
SELECT SECTOR SPDR TRFINANCIAL81369Y60512,082,500250,000SHCallOTR 0 250,000 0
SNOWFLAKE INCCL A8334451091,420,5729,200SHOTR 0 9,200 0
SPDR GOLD TRGOLD SHS78463V107338,982,0001,400,000SHCallOTR 0 1,400,000 0
SPDR GOLD TRGOLD SHS78463V107399,514,5001,650,000SHPutOTR 0 1,650,000 0
SPDR S&P 500 ETF TRTR UNIT78462F10317,582,40030,000SHPutOTR 0 30,000 0
SPDR S&P MIDCAP 400 ETF TRUTSER1 S&PDCRP78467Y1079,227,19616,200SHOTR 0 16,200 0
SPDR SER TRBBG CONV SEC ETF78464A3592,480,87431,851SHOTR 0 31,851 0
SPDR SER TRS&P BIOTECH78464A870138,051,3531,532,882SHOTR 0 1,532,882 0
SPDR SER TRS&P OILGAS EXP78468R556992,7757,500SHOTR 0 7,500 0
SPDR SER TRS&P REGL BKG78464A6986,035,000100,000SHCallOTR 0 100,000 0
SUNNOVA ENERGY INTL INC.NOTE 0.250%12/086745KAF13,123,6455,250,000PRNOTR 0 0 5,250,000
SUNNOVA ENERGY INTL INC.NOTE 2.625% 2/186745KAH7197,093500,000PRNOTR 0 0 500,000
VANECK ETF TRUSTGOLD MINERS ETF92189F1064,628,715136,500SHOTR 0 136,500 0
VANECK ETF TRUSTJUNIOR GOLD MINE92189F79119,742,933461,823SHOTR 0 461,823 0
VANGUARD SCOTTSDALE FDSINT-TERM CORP92206C8703,668,09845,697SHOTR 0 45,697 0
VANGUARD SCOTTSDALE FDSLG-TERM COR BD92206C8132,113,28328,260SHOTR 0 28,260 0
VERISIGN INCCOM92343E102344,7951,666SHOTR 0 1,666 0
VISA INCCOM CL A92826C839339,1111,073SHOTR 0 1,073 0