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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
XLK icon
776
State Street Technology Select Sector SPDR ETF
XLK
$125B
$1.49M 0.01%
+10,600
New +$1.4M
IMVT icon
777
Immunovant
IMVT
$8.64B
$1.49M 0.01%
92,500
– –
MBX
778
MBX Biosciences
MBX
$3.23B
$1.49M ﹤0.01%
+85,000
New +$1.14M
ENHA
779
Enhanced Group Inc
ENHA
$322M
$1.49M ﹤0.01%
+150,000
New +$1.48M
TMHC
780
CALL
DELISTED
Taylor Morrison
TMHC
$1.48M ﹤0.01%
22,400
-27,100
-55% -$1.78M
OTIS icon
781
Otis Worldwide
OTIS
$27.8B
$1.46M ﹤0.01%
15,920
-20,169
-56% -$1.83M
BJRI icon
782
PUT
BJ's Restaurants
BJRI
$1.42B
$1.45M ﹤0.01%
+47,500
New +$1.69M
SHAK icon
783
CALL
Shake Shack
SHAK
$2.98B
$1.44M ﹤0.01%
+15,400
New +$1.77M
MSTZ
784
PUT
T-Rex 2X Inverse MSTR Daily Target ETF
MSTZ
$95.5M
$1.42M ﹤0.01%
270,500
– –
MRNA icon
785
Moderna
MRNA
$25.4B
$1.42M ﹤0.01%
55,000
-20,000
-27% -$558K
OC icon
786
CALL
Owens Corning
OC
$12.3B
$1.41M ﹤0.01%
10,000
-29,000
-74% -$4.26M
STLD icon
787
Steel Dynamics
STLD
$37.3B
$1.41M ﹤0.01%
10,089
-19,966
-66% -$2.62M
TPH
788
PUT
DELISTED
Tri Pointe Homes
TPH
$1.39M ﹤0.01%
40,900
-107,900
-73% -$3.67M
ITT icon
789
ITT
ITT
$19.4B
$1.37M ﹤0.01%
7,665
-17,773
-70% -$2.98M
HUN icon
790
PUT
Huntsman Corp
HUN
$1.81B
$1.35M ﹤0.01%
+150,000
New +$1.58M
GILD icon
791
Gilead Sciences
GILD
$171B
$1.33M ﹤0.01%
12,014
-12,411
-51% -$1.41M
CHRS icon
792
Coherus Oncology
CHRS
$176M
$1.33M ﹤0.01%
810,000
-25,000
-3% -$27.8K
TPH
793
CALL
DELISTED
Tri Pointe Homes
TPH
$1.32M ﹤0.01%
38,900
-106,800
-73% -$3.64M
DXLG icon
794
Destination XL Group
DXLG
$33.2M
$1.31M ﹤0.01%
1,000,004
– –
KYMR icon
795
Kymera Therapeutics
KYMR
$9.51B
$1.31M ﹤0.01%
23,134
+18,134
+363% +$818K
MTRX icon
796
Matrix Service
MTRX
$328M
$1.31M ﹤0.01%
+100,000
New +$1.42M
RNAM
797
DELISTED
Avidity Biosciences
RNAM
$1.31M ﹤0.01%
30,000
-45,000
-60% -$1.82M
LRMR icon
798
Larimar Therapeutics
LRMR
$444M
$1.3M ﹤0.01%
403,449
+174,688
+76% +$655K
NUVL
799
DELISTED
Nuvalent
NUVL
$1.3M ﹤0.01%
+15,000
New +$1.19M
AL
800
DELISTED
Air Lease Corp
AL
$1.28M ﹤0.01%
+20,179
New +$1.21M
30 31
32
33 34

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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.