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HBK Investments Portfolio holdings
AUM
$10.3B
Turnover
52.97%
1-Year Est. Return
67.69%
This Fund
S&P 500
This Quarter
Est. Return
+19.88%
1 Year Est. Return
+67.69%
3 Year Est. Return
+191.59%
5 Year Est. Return
+445.48%
10 Year Est. Return
+2,540.16%
AUM
$12.7B
AUM Growth
+$3.61B
(+40%)
Cap. Flow
+$1.52B
Cap. Flow
% of AUM
11.96%
Top 10 Holdings %
Top 10 Hldgs %
51.73%
Holding
340
New
95
Increased
37
Reduced
44
Closed
80
Avg Time Held Equity + Options
0.5
years
Top 10 Avg Time Held Equity + Options
0.2
years
Top 20 Avg Time Held Equity + Options
0.4
years
Avg Time Held Equity only
0.4
years
Top 10 Avg Time Held Equity only
0.1
years
Top 20 Avg Time Held Equity only
0.1
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Exact Sciences
EXAS
|
+$614M |
| 2 |
Hologic
HOLX
|
+$614M |
| 3 |
Electronic Arts
EA
|
+$386M |
| 4 |
Confluent
CFLT
|
+$368M |
| 5 |
Comerica
CMA
|
+$320M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
VRNA
Verona Pharma
VRNA
|
+$455M |
| 2 |
Informatica
INFA
|
+$322M |
| 3 |
Interpublic Group of Companies
IPG
|
+$295M |
| 4 |
Merus
MRUS
|
+$268M |
| 5 |
Mr. Cooper
COOP
|
+$203M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 34.55% |
| 2 | Healthcare | 18.19% |
| 3 | Technology | 17.43% |
| 4 | Industrials | 10.63% |
| 5 | Communication Services | 10.51% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
PUT
NVIDIA
NVDA
$5.17T
| $1.11B | 8.7% |
5,939,500
+4,410,100
| +288% | +$821M |
2025 Q1
3 quarters
|
|
2
DELISTED
CyberArk
CYBR
| $1.09B | 8.59% |
2,450,000
+100,000
| +4% | +$48.1M |
2025 Q3
1 quarter
|
|
|
3
DELISTED
Exact Sciences
EXAS
| $777M | 6.1% |
+7,646,637
| New | +$614M |
2025 Q4
0 quarters
|
|
|
4
DELISTED
Hologic
HOLX
| $626M | 4.92% |
+8,400,000
| New | +$614M |
2025 Q4
0 quarters
|
|
5
Norfolk Southern
NSC
$73.4B
| $615M | 4.83% |
2,130,000
+860,000
| +68% | +$249M |
2025 Q3
1 quarter
|
|
6
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$806B
| $574M | 4.51% |
841,400
+159,900
| +23% | +$108M |
2023 Q1
11 quarters
|
|
7
DELISTED
Dayforce
DAY
| $543M | 4.27% |
7,850,000
+3,550,000
| +83% | +$244M |
2025 Q3
1 quarter
|
|
|
8
DELISTED
Confluent
CFLT
| $454M | 3.56% |
+15,000,000
| New | +$368M |
2025 Q4
0 quarters
|
|
9
DELISTED
Chart Industries
GTLS
| $406M | 3.19% |
1,969,092
-158,783
| -7% | -$32.2M |
2025 Q3
1 quarter
|
|
|
10
DELISTED
Electronic Arts
EA
| $390M | 3.07% |
+1,909,982
| New | +$386M |
2025 Q4
0 quarters
|
|
|
11
DELISTED
Comerica
CMA
| $346M | 2.72% |
+3,975,000
| New | +$320M |
2025 Q4
0 quarters
|
|
|
RNAM
12
DELISTED
Avidity Biosciences
RNAM
| $315M | 2.47% |
+4,365,000
| New | +$282M |
2025 Q4
0 quarters
|
|
13
DELISTED
Frontier Communications
FYBR
| $297M | 2.33% |
7,800,000
+4,275,000
| +121% | +$162M |
2025 Q3
1 quarter
|
|
14
DELISTED
Air Lease Corp
AL
| $296M | 2.32% |
4,602,260
+1,852,260
| +67% | +$118M |
2025 Q3
1 quarter
|
|
15
DELISTED
Liberty Broadband Class C
LBRDK
| $287M | 2.26% |
5,908,691
+233,691
| +4% | +$12.2M |
2025 Q3
1 quarter
|
|
|
16
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$806B
| $287M | 2.26% |
421,000
+110,300
| +36% | +$74.6M |
2023 Q1
11 quarters
|
|
17
DELISTED
Cidara Therapeutics
CDTX
| $278M | 2.19% |
+1,260,000
| New | +$204M |
2025 Q4
0 quarters
|
|
18
DELISTED
Warner Bros
WBD
| $257M | 2.02% |
8,924,170
+7,174,170
| +410% | +$168M |
2025 Q1
3 quarters
|
|
19
DELISTED
Amicus Therapeutics
FOLD
| $217M | 1.71% |
+15,250,000
| New | +$150M |
2025 Q4
0 quarters
|
|
20
CALL
Invesco QQQ Trust
QQQ
$475B
| $206M | 1.62% |
+335,400
| New | +$206M |
2025 Q4
0 quarters
|
|
21
PUT
SPDR Gold Trust
GLD
$141B
| $194M | 1.52% |
488,900
| – | – |
2024 Q2
6 quarters
|
|
22
DELISTED
Synovus
SNV
| $189M | 1.49% |
+3,792,518
| New | +$182M |
2025 Q4
0 quarters
|
|
23
PUT
iShares Bitcoin Trust
IBIT
$65.6B
| $173M | 1.36% |
3,476,600
+2,954,000
| +565% | +$168M |
2024 Q4
4 quarters
|
|
|
AHL
24
DELISTED
Aspen Insurance
AHL
| $167M | 1.31% |
4,500,000
+886,361
| +25% | +$32.7M |
2025 Q3
1 quarter
|
|
|
25
PUT
Invesco QQQ Trust
QQQ
$475B
| $150M | 1.18% |
244,100
+3,100
| +1% | +$1.9M |
2025 Q1
3 quarters
|
|
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HBK Investments's Q4 2025 Portfolio in Review
As of Q4 2025, HBK Investments held 340 positions worth $12.7B, up 40% from $9.12B the previous quarter. Its ten largest holdings account for 52% of the portfolio.
HBK Investments deployed $1.52B of net new capital in Q4 2025, opening 95 new positions and adding to 37 existing holdings. Its largest new stake was Exact Sciences: 7,646,637 shares worth $777M.
By sector, the portfolio is most concentrated in Miscellaneous at 35% of assets, down from 37% a quarter earlier, followed by Healthcare and Technology.
On the sell side, the largest reduction was ARK 21Shares Bitcoin ETF, an estimated $42.7M trimmed.
- HBK Investments's largest Q4 2025 buy was Exact Sciences: 7,646,637 shares worth $777M.
- HBK Investments added most to Norfolk Southern in Q4 2025, an estimated $249M increase.
- HBK Investments's biggest Q4 2025 reduction was ARK 21Shares Bitcoin ETF, cutting an estimated $42.7M.
- HBK Investments fully exited Verona Pharma in Q4 2025, selling an estimated $455M.
- HBK Investments's ten largest holdings make up 52% of its $12.7B portfolio in Q4 2025.
- HBK Investments opened 95 new positions and closed 80 in Q4 2025.
- HBK Investments's portfolio value rose 40% quarter-over-quarter to $12.7B.
Based on HBK Investments's 13F filing for Q4 2025, filed 17 Feb 2026.