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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
BAX icon
751
Baxter International
BAX
$14B
$1.82M 0.01%
+80,000
New +$2.03M
TFII icon
752
TFI International
TFII
$12.1B
$1.81M 0.01%
20,506
-99,908
-83% -$9.14M
WM icon
753
Waste Management
WM
$89.6B
$1.79M 0.01%
8,120
+3,696
+84% +$832K
CLW icon
754
Clearwater Paper
CLW
$354M
$1.78M 0.01%
85,929
+20,811
+32% +$503K
QSEA
755
Quartzsea Acquisition Corp
QSEA
$1.78M 0.01%
175,000
– –
ATO icon
756
Atmos Energy
ATO
$28.7B
$1.72M 0.01%
+10,090
New +$1.63M
HYAC
757
DELISTED
Haymaker Acquisition Corp 4
HYAC
$1.7M 0.01%
150,000
– –
AISPW
758
Airship AI Holdings Warrants
AISPW
$14.1M
$1.7M 0.01%
1,012,084
+327,034
+48% +$553K
BEAM icon
759
Beam Therapeutics
BEAM
$2.74B
$1.7M 0.01%
70,000
+25,000
+56% +$497K
MIAX
760
Miami International Holdings
MIAX
$4.36B
$1.66M 0.01%
+41,145
New +$1.51M
DOW icon
761
Dow Inc
DOW
$21.9B
$1.65M 0.01%
+72,000
New +$1.79M
PTRN
762
Pattern Group Inc
PTRN
$4.05B
$1.65M 0.01%
+120,343
New +$1.68M
OGS icon
763
ONE Gas
OGS
$5.09B
$1.63M 0.01%
+20,119
New +$1.51M
LDOS icon
764
Leidos
LDOS
$17.9B
$1.62M 0.01%
+8,579
New +$1.49M
LRMR icon
765
CALL
Larimar Therapeutics
LRMR
$444M
$1.61M 0.01%
498,200
+200
+0% +$750
OPFI.WS
766
DELISTED
OppFi Inc Warrants
OPFI.WS
$1.6M 0.01%
713,194
+49,339
+7% +$119K
MCGA
767
Yorkville Acquisition Corp
MCGA
$242M
$1.6M 0.01%
+150,000
New +$1.61M
HNRG icon
768
Hallador Energy
HNRG
$730M
$1.56M 0.01%
79,549
-10,554
-12% -$181K
IPEX
769
Inflection Point Acquisition Corp V
IPEX
$127M
$1.54M 0.01%
150,000
-150,000
-50% -$1.53M
IR icon
770
Ingersoll Rand
IR
$32.7B
$1.53M 0.01%
+18,553
New +$1.52M
SLNO
771
DELISTED
Soleno Therapeutics
SLNO
$1.51M 0.01%
22,362
-44,990
-67% -$3.34M
ACAD icon
772
Acadia Pharmaceuticals
ACAD
$4.89B
$1.5M 0.01%
70,300
-119,700
-63% -$2.83M
GTERA
773
Globa Terra Acquisition Corp
GTERA
$247M
$1.5M 0.01%
+150,000
New +$1.49M
AXIN
774
Axiom Intelligence Acquisition Corp 1
AXIN
$281M
$1.5M 0.01%
+150,000
New +$1.5M
RDAG
775
Republic Digital Acquisition Co
RDAG
$389M
$1.5M 0.01%
146,580
– –
29 30
31
32 33

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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.