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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
+3.26%
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
$30.3B
AUM Growth
+$259M
Cap. Flow
+$4.21M
Cap. Flow %
0.01%
Top 10 Hldgs %
25.78%
Holding
1,635
New
443
Increased
264
Reduced
288
Closed
475

Top Buys

Rank Stock Value
1
PLTR icon
Palantir
PLTR
+$412M
2
MSFT icon
Microsoft
MSFT
+$384M
3
NFLX icon
Netflix
NFLX
+$293M
4
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$253M
5
AVGO icon
Broadcom
AVGO
+$190M

Top Sells

Rank Stock Value
1
AMZN icon
Amazon
AMZN
+$421M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$172M
3
TSM icon
TSMC
TSM
+$149M
4
K
Kellanova
K
+$100M
5
UNH icon
UnitedHealth
UNH
+$86.3M

Sector Composition

Rank Sector Weight
1 Technology 14.06%
2 Financials 8.07%
3 Consumer Discretionary 6.89%
4 Healthcare 5.17%
5 Communication Services 4.66%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HYG icon
51
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.9B
$121M 0.4%
1,500,000
-5,500,000
-79% -$443M
AAL icon
52
PUT
American Airlines Group
AAL
$9.93B
$118M 0.39%
7,694,800
+846,900
+12% +$11.4M
EXAS
53
DELISTED
Exact Sciences
EXAS
$113M 0.37%
+1,115,996
New +$89.6M
ISRG icon
54
PUT
Intuitive Surgical
ISRG
$139B
$113M 0.37%
+200,000
New +$106M
ANET icon
55
Arista Networks
ANET
$242B
$103M 0.34%
786,516
+93,089
+13% +$12.8M
WMT icon
56
PUT
Walmart Inc
WMT
$897B
$102M 0.34%
+920,000
New +$98.8M
COIN icon
57
PUT
Coinbase
COIN
$39.2B
$102M 0.34%
450,000
+263,800
+142% +$78.6M
TMUS icon
58
PUT
T-Mobile US
TMUS
$191B
$102M 0.33%
500,000
+100,000
+25% +$21.2M
ADBE icon
59
Adobe
ADBE
$109B
$101M 0.33%
290,000
+288,819
+24,455% +$98.2M
ADBE icon
60
PUT
Adobe
ADBE
$109B
$101M 0.33%
+290,000
New +$98.6M
TMUS icon
61
T-Mobile US
TMUS
$191B
$101M 0.33%
495,186
+28,574
+6% +$6.06M
NSC icon
62
Norfolk Southern
NSC
$75B
$96.8M 0.32%
335,320
+183,857
+121% +$53.2M
NBIS
63
PUT
Nebius Group N.V.
NBIS
$46.7B
$96.3M 0.32%
1,150,000
+1,110,000
+2,775% +$115M
SNPS icon
64
Synopsys
SNPS
$78.8B
$94.9M 0.31%
202,001
+159,896
+380% +$71M
SPY icon
65
State Street SPDR S&P 500 ETF Trust
SPY
$810B
$90.1M 0.3%
132,184
-254,816
-66% -$172M
COIN icon
66
CALL
Coinbase
COIN
$39.2B
$88.3M 0.29%
390,400
+359,800
+1,176% +$107M
CNC icon
67
PUT
Centene
CNC
$32.9B
$87.4M 0.29%
2,125,000
+2,000,000
+1,600% +$74.9M
AMD icon
68
CALL
Advanced Micro Devices
AMD
$767B
$85.7M 0.28%
+400,000
New +$89.8M
EA
69
DELISTED
Electronic Arts
EA
$81.2M 0.27%
397,500
-390,549
-50% -$78.8M
JHG
70
DELISTED
Janus Henderson
JHG
$79.9M 0.26%
+1,678,802
New +$74.3M
ALNY icon
71
PUT
Alnylam Pharmaceuticals
ALNY
$29B
$79.5M 0.26%
+200,000
New +$88.5M
CDNS icon
72
Cadence Design Systems
CDNS
$91.4B
$78.1M 0.26%
250,000
+99,633
+66% +$32.5M
CDNS icon
73
PUT
Cadence Design Systems
CDNS
$91.4B
$78.1M 0.26%
250,000
+100,000
+67% +$32.6M
NBIS
74
CALL
Nebius Group N.V.
NBIS
$46.7B
$75.3M 0.25%
+900,000
New +$93.3M
SNPS icon
75
PUT
Synopsys
SNPS
$78.8B
$75.2M 0.25%
+160,000
New +$71.1M
1 2
3
4 5

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Hudson Bay Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Hudson Bay Capital Management held 1,635 positions worth $30.3B, up 0.86% from $30.1B the previous quarter. Its ten largest holdings account for 26% of the portfolio.

Hudson Bay Capital Management's Q4 2025 filing shows 443 new, 264 increased, 288 reduced and 475 closed positions. Its largest new stake was Vertiv: 964,604 shares worth $156M. The largest sale was Amazon, an estimated $421M.

By sector, the portfolio is most concentrated in Technology at 14% of assets, up from 11% a quarter earlier, followed by Financials and Consumer Discretionary.

  • Hudson Bay Capital Management's largest Q4 2025 buy was Vertiv: 964,604 shares worth $156M.
  • Hudson Bay Capital Management added most to Palantir in Q4 2025, an estimated $412M increase.
  • Hudson Bay Capital Management's biggest Q4 2025 reduction was Amazon, cutting an estimated $421M.
  • Hudson Bay Capital Management fully exited Kellanova in Q4 2025, selling an estimated $100M.
  • Hudson Bay Capital Management's ten largest holdings make up 26% of its $30.3B portfolio in Q4 2025.
  • Hudson Bay Capital Management opened 443 new positions and closed 475 in Q4 2025.
  • Hudson Bay Capital Management's portfolio value rose 0.86% quarter-over-quarter to $30.3B.

Based on Hudson Bay Capital Management's 13F filing for Q4 2025, filed 13 Feb 2026.