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HBK Investments Portfolio holdings

AUM $10.2B
1-Year Est. Return 67.73%
This Fund
S&P 500
This Quarter Est. Return
+19.88%
1 Year Est. Return
+67.73%
3 Year Est. Return
+191.66%
5 Year Est. Return
+445.61%
10 Year Est. Return
+2,601.8%
AUM
$12.7B
AUM Growth
+$3.62B
Cap. Flow
+$2.71B
Cap. Flow %
21.26%
Top 10 Hldgs %
51.73%
Holding
340
New
96
Increased
37
Reduced
44
Closed
80

Top Buys

Rank Stock Value
1
EXAS
Exact Sciences
EXAS
+$614M
2
HOLX
Hologic
HOLX
+$614M
3
EA
Electronic Arts
EA
+$386M
4
CFLT
Confluent
CFLT
+$368M
5
CMA
Comerica
CMA
+$320M

Top Sells

Rank Stock Value
1
VRNA
Verona Pharma
VRNA
+$455M
2
INFA
Informatica
INFA
+$322M
3
IPG
Interpublic Group of Companies
IPG
+$295M
4
MRUS
Merus
MRUS
+$268M
5
COOP
Mr. Cooper
COOP
+$203M

Sector Composition

Rank Sector Weight
1 Healthcare 18.19%
2 Technology 17.43%
3 Industrials 10.63%
4 Communication Services 10.51%
5 Financials 7.19%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NVDA icon
1
PUT
NVIDIA
NVDA
$5.05T
$1.11B 8.7%
5,939,500
+4,410,100
+288% +$821M
CYBR
2
DELISTED
CyberArk
CYBR
$1.09B 8.59%
2,450,000
+100,000
+4% +$48.1M
EXAS
3
DELISTED
Exact Sciences
EXAS
$777M 6.1%
+7,646,637
New +$614M
HOLX
4
DELISTED
Hologic
HOLX
$626M 4.92%
+8,400,000
New +$614M
NSC icon
5
Norfolk Southern
NSC
$79.3B
$615M 4.83%
2,130,000
+860,000
+68% +$249M
SPY icon
6
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$819B
$574M 4.51%
841,400
+159,900
+23% +$108M
DAY
7
DELISTED
Dayforce
DAY
$543M 4.27%
7,850,000
+3,550,000
+83% +$244M
CFLT
8
DELISTED
Confluent
CFLT
$454M 3.56%
+15,000,000
New +$368M
GTLS
9
DELISTED
Chart Industries
GTLS
$406M 3.19%
1,969,092
-158,783
-7% -$32.2M
EA
10
DELISTED
Electronic Arts
EA
$390M 3.07%
+1,909,982
New +$386M
CMA
11
DELISTED
Comerica
CMA
$346M 2.72%
+3,975,000
New +$320M
RNAM
12
DELISTED
Avidity Biosciences
RNAM
$315M 2.47%
+4,365,000
New +$282M
FYBR
13
DELISTED
Frontier Communications
FYBR
$297M 2.33%
7,800,000
+4,275,000
+121% +$162M
AL
14
DELISTED
Air Lease Corp
AL
$296M 2.32%
4,602,260
+1,852,260
+67% +$118M
LBRDK
15
DELISTED
Liberty Broadband Class C
LBRDK
$287M 2.26%
5,908,691
+233,691
+4% +$12.2M
SPY icon
16
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$819B
$287M 2.26%
421,000
+110,300
+36% +$74.6M
CDTX
17
DELISTED
Cidara Therapeutics
CDTX
$278M 2.19%
+1,260,000
New +$204M
WBD icon
18
Warner Bros
WBD
$72B
$257M 2.02%
8,924,170
+7,174,170
+410% +$168M
FOLD
19
DELISTED
Amicus Therapeutics
FOLD
$217M 1.71%
+15,250,000
New +$150M
QQQ icon
20
CALL
Invesco QQQ Trust
QQQ
$483B
$206M 1.62%
+335,400
New +$206M
GLD icon
21
PUT
SPDR Gold Trust
GLD
$155B
$194M 1.52%
488,900
– –
SNV
22
DELISTED
Synovus
SNV
$189M 1.49%
+3,792,518
New +$182M
IBIT icon
23
PUT
iShares Bitcoin Trust
IBIT
$59.5B
$173M 1.36%
3,476,600
+2,954,000
+565% +$168M
AHL
24
DELISTED
Aspen Insurance
AHL
$167M 1.31%
4,500,000
+886,361
+25% +$32.7M
QQQ icon
25
PUT
Invesco QQQ Trust
QQQ
$483B
$150M 1.18%
244,100
+3,100
+1% +$1.9M
1
2 3 4 5

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MOACM
Mutual of America Capital Management New York $10.3B AUM 43.46% 1-Year Est. Return
NB
Norinchukin Bank Tokyo, Japan $10.3B AUM 30.79% 1-Year Est. Return
SGA
Sustainable Growth Advisers Stamford, Connecticut $10.2B AUM 1.48% 1-Year Est. Return
DCP
Durable Capital Partners Bethesda, Maryland $10.3B AUM 29.04% 1-Year Est. Return
WT
Whittier Trust South Pasadena, California $10.2B AUM 33.39% 1-Year Est. Return
GIM
Generation Investment Management London, United Kingdom $10.3B AUM 4.84% 1-Year Est. Return
CCM
Cullen Capital Management New York $10.2B AUM 27.15% 1-Year Est. Return
LWCFA
Loring Wolcott & Coolidge Fiduciary Advisors Boston, Massachusetts $10.3B AUM 3.26% 1-Year Est. Return

HBK Investments's Q4 2025 Portfolio in Review

As of Q4 2025, HBK Investments held 340 positions worth $12.7B, up 40% from $9.11B the previous quarter. Its ten largest holdings account for 52% of the portfolio.

HBK Investments deployed $2.71B of net new capital in Q4 2025, opening 96 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 Healthcare at 18% of assets, up from 11% a quarter earlier, followed by Technology and Industrials.

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 96 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.