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Hudson Bay Capital Management

Hudson Bay Capital Management Portfolio holdings

AUM $29B
1-Year Est. Return 30.2%
This Fund
S&P 500
This Quarter Est. Return
+11.06%
1 Year Est. Return
+30.2%
3 Year Est. Return
+99.99%
5 Year Est. Return
+135.78%
10 Year Est. Return
+498.47%
AUM
$30.1B
AUM Growth
+$641M
Cap. Flow
-$3.63B
Cap. Flow %
-12.08%
Top 10 Hldgs %
29.43%
Holding
1,782
New
442
Increased
250
Reduced
348
Closed
584

Top Buys

Rank Stock Value
1
AMZN icon
Amazon
AMZN
+$521M
2
AAPL icon
Apple
AAPL
+$212M
3
CYBR
CyberArk
CYBR
+$205M
4
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$164M
5
TSM icon
TSMC
TSM
+$162M

Top Sells

Rank Stock Value
1
MSTR icon
Strategy Inc
MSTR
+$272M
2
QQQ icon
Invesco QQQ Trust
QQQ
+$271M
3
AMD icon
Advanced Micro Devices
AMD
+$206M
4
NVDA icon
NVIDIA
NVDA
+$186M
5
HES
Hess
HES
+$163M

Sector Composition

Rank Sector Weight
1 Technology 10.62%
2 Consumer Discretionary 9%
3 Financials 6.82%
4 Healthcare 3.96%
5 Real Estate 3.67%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LBRDK icon
326
Liberty Broadband Class C
LBRDK
$5.32B
$10.5M 0.03%
165,000
+40,000
+32% +$2.8M
QBTS.WS
327
DELISTED
D-Wave Quantum Inc Warrants
QBTS.WS
$10.4M 0.03%
427,213
+57,461
+16% +$864K
AON icon
328
Aon
AON
$75.6B
$10.4M 0.03%
+29,113
New +$10.5M
ASML icon
329
CALL
ASML
ASML
$691B
$10.4M 0.03%
10,700
+9,800
+1,089% +$7.7M
COIN icon
330
CALL
Coinbase
COIN
$39.2B
$10.3M 0.03%
+30,600
New +$10.4M
FACT
331
FACT II Acquisition Corp
FACT
$259M
$10.3M 0.03%
1,000,000
– –
STEP icon
332
StepStone Group
STEP
$4.07B
$10.2M 0.03%
156,855
+106,781
+213% +$6.52M
XPO icon
333
XPO
XPO
$23.8B
$10.2M 0.03%
79,081
-15,993
-17% -$2.08M
SLNO
334
PUT
DELISTED
Soleno Therapeutics
SLNO
$10.1M 0.03%
150,000
+125,000
+500% +$9.27M
CCI icon
335
PUT
Crown Castle
CCI
$31.3B
$10M 0.03%
+104,100
New +$10.5M
CYTK icon
336
Cytokinetics
CYTK
$10.6B
$10M 0.03%
182,131
+24,345
+15% +$1M
ASST icon
337
Strive Inc
ASST
$1.08B
$10M 0.03%
+370,370
New +$35.2M
WYNN icon
338
Wynn Resorts
WYNN
$10.8B
$9.97M 0.03%
77,704
-6,278
-7% -$725K
UNM icon
339
Unum
UNM
$14.2B
$9.95M 0.03%
127,981
+26,385
+26% +$1.98M
EVAC
340
EQV Ventures Acquisition Corp II
EVAC
$599M
$9.95M 0.03%
+1,000,000
New +$9.94M
UGI icon
341
UGI
UGI
$7.54B
$9.94M 0.03%
298,997
-62,173
-17% -$2.17M
SHOP icon
342
Shopify
SHOP
$196B
$9.93M 0.03%
+66,835
New +$9.06M
NTRS icon
343
Northern Trust
NTRS
$34.4B
$9.83M 0.03%
73,026
-27,472
-27% -$3.54M
HAYW icon
344
Hayward Holdings
HAYW
$3.3B
$9.82M 0.03%
649,715
-226,631
-26% -$3.47M
ARES icon
345
Ares Management
ARES
$32.3B
$9.71M 0.03%
60,717
+57,687
+1,904% +$10.4M
VMC icon
346
Vulcan Materials
VMC
$37.3B
$9.65M 0.03%
31,367
-13,113
-29% -$3.72M
CBOE icon
347
Cboe Global Markets
CBOE
$29.5B
$9.6M 0.03%
+39,130
New +$9.4M
TER icon
348
Teradyne
TER
$59.3B
$9.52M 0.03%
69,182
+61,248
+772% +$6.69M
APLS
349
DELISTED
Apellis Pharmaceuticals
APLS
$9.47M 0.03%
418,500
-56,500
-12% -$1.32M
CCI icon
350
Crown Castle
CCI
$31.3B
$9.46M 0.03%
+98,032
New +$9.92M
12 13
14
15 16

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Hudson Bay Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, Hudson Bay Capital Management held 1,782 positions worth $30.1B, up 2.2% from $29.4B the previous quarter. Its ten largest holdings account for 29% of the portfolio.

Hudson Bay Capital Management withdrew a net $3.63B in Q3 2025, closing 584 positions and reducing 348 holdings. Its most notable exit was Hess, an estimated $163M position sold in full.

By sector, the portfolio is most concentrated in Technology at 11% of assets, down from 11% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Hudson Bay Capital Management opened a new position in CyberArk worth $230M.

  • Hudson Bay Capital Management's largest Q3 2025 buy was CyberArk: 476,630 shares worth $230M.
  • Hudson Bay Capital Management added most to Amazon in Q3 2025, an estimated $521M increase.
  • Hudson Bay Capital Management's biggest Q3 2025 reduction was Strategy Inc, cutting an estimated $272M.
  • Hudson Bay Capital Management fully exited Hess in Q3 2025, selling an estimated $163M.
  • Hudson Bay Capital Management's ten largest holdings make up 29% of its $30.1B portfolio in Q3 2025.
  • Hudson Bay Capital Management opened 442 new positions and closed 584 in Q3 2025.
  • Hudson Bay Capital Management's portfolio value rose 2.2% quarter-over-quarter to $30.1B.

Based on Hudson Bay Capital Management's 13F filing for Q3 2025, filed 13 Nov 2025.