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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
FCPT icon
376
Four Corners Property Trust
FCPT
$2.72B
$8.57M 0.03%
351,092
-1,092,072
-76% -$28.2M
BX icon
377
Blackstone
BX
$109B
$8.54M 0.03%
+50,000
New +$8.57M
USARW
378
DELISTED
USA Rare Earth Inc Warrant
USARW
$8.49M 0.03%
1,176,622
+604,862
+106% +$3M
LKFT
379
Lakefront Biotherapeutics American Depositary Shares
LKFT
$1.83B
$8.49M 0.03%
245,000
-270,000
-52% -$8.64M
USB icon
380
US Bancorp
USB
$101B
$8.47M 0.03%
+175,349
New +$8.29M
SO icon
381
Southern Company
SO
$106B
$8.46M 0.03%
89,259
-127,518
-59% -$11.9M
SPY icon
382
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$809B
$8.33M 0.03%
12,500
-277,500
-96% -$178M
CFG icon
383
Citizens Financial Group
CFG
$31B
$8.25M 0.03%
+155,171
New +$7.72M
IRM icon
384
Iron Mountain
IRM
$36.9B
$8.22M 0.03%
80,657
+74,549
+1,221% +$7.18M
CEG icon
385
Constellation Energy
CEG
$98.9B
$8.16M 0.03%
24,785
+20,676
+503% +$6.67M
GMAB icon
386
Genmab
GMAB
$19.6B
$8.13M 0.03%
265,000
-35,000
-12% -$853K
BCSS.U
387
Bain Capital GSS Investment Corp Units
BCSS.U
$8.07M 0.03%
+800,000
New +$8.07M
LHX icon
388
L3Harris
LHX
$52.8B
$8M 0.03%
26,202
-8,863
-25% -$2.42M
SOC icon
389
PUT
Sable Offshore Corp
SOC
$840M
$7.98M 0.03%
+457,000
New +$11.7M
RARE icon
390
Ultragenyx Pharmaceutical
RARE
$2.63B
$7.97M 0.03%
265,000
+6,319
+2% +$190K
MAS icon
391
Masco
MAS
$14.7B
$7.91M 0.03%
112,442
+41,611
+59% +$2.93M
JPM icon
392
CALL
JPMorgan Chase
JPM
$971B
$7.89M 0.03%
25,000
-9,400
-27% -$2.8M
JPM icon
393
PUT
JPMorgan Chase
JPM
$971B
$7.89M 0.03%
25,000
-87,200
-78% -$25.9M
AVAV icon
394
PUT
AeroVironment
AVAV
$9.78B
$7.87M 0.03%
+25,000
New +$6.47M
VACH
395
DELISTED
Voyager Acquisition Corp
VACH
$7.87M 0.03%
750,000
– –
RAL
396
Ralliant Corp
RAL
$7.97B
$7.87M 0.03%
179,891
+132,403
+279% +$5.89M
GM icon
397
General Motors
GM
$76.9B
$7.83M 0.03%
+128,413
New +$7.16M
MLCO icon
398
Melco Resorts & Entertainment
MLCO
$2.15B
$7.78M 0.03%
848,596
-624,906
-42% -$5.72M
ULTA icon
399
Ulta Beauty
ULTA
$23.1B
$7.75M 0.03%
14,166
-118,726
-89% -$60.8M
ARGX icon
400
argenx
ARGX
$54.9B
$7.74M 0.03%
10,500
-57,423
-85% -$37.9M
14 15
16
17 18

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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.