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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
SYK icon
1001
Stryker
SYK
$131B
$210K ﹤0.01%
568
-2,570
-82% -$993K
LYV icon
1002
Live Nation Entertainment
LYV
$43.3B
$206K ﹤0.01%
+1,259
New +$199K
BZAIW
1003
Blaize Holdings Warrants
BZAIW
$6.11M
$206K ﹤0.01%
+331,000
New +$179K
ADP icon
1004
Automatic Data Processing
ADP
$110B
$201K ﹤0.01%
+685
New +$206K
LUMN icon
1005
Lumen
LUMN
$6.6B
$198K ﹤0.01%
32,340
+16,740
+107% +$80.3K
ARCT icon
1006
Arcturus Therapeutics
ARCT
$223M
$195K ﹤0.01%
10,600
-144,400
-93% -$2.32M
CRMLW icon
1007
Critical Metals Corp Warrants
CRMLW
$21.7M
$191K ﹤0.01%
+90,639
New +$143K
ONDS icon
1008
Ondas Inc
ONDS
$5.08B
$184K ﹤0.01%
+23,830
New +$98.9K
MPT
1009
Medical Properties Trust
MPT
$2.51B
$181K ﹤0.01%
35,671
+24,031
+206% +$106K
MDWD icon
1010
MediWound
MDWD
$174M
$180K ﹤0.01%
+10,000
New +$184K
CCIX
1011
DELISTED
Churchill Capital Corp IX
CCIX
$180K ﹤0.01%
17,159
-139,000
-89% -$1.46M
MLTX icon
1012
CALL
MoonLake Immunotherapeutics
MLTX
$1.4B
$179K ﹤0.01%
+25,000
New +$1.3M
TWI icon
1013
Titan International
TWI
$438M
$175K ﹤0.01%
+23,163
New +$207K
HOUS
1014
DELISTED
Anywhere Real Estate
HOUS
$169K ﹤0.01%
+15,980
New +$93.9K
WLACW
1015
DELISTED
Willow Lane Acquisition Corp Warrants
WLACW
$167K ﹤0.01%
59,034
-315,966
-84% -$330K
PCG icon
1016
CALL
PG&E
PCG
$38.5B
$158K ﹤0.01%
10,500
-1,000,000
-99% -$14.6M
NHICW
1017
NewHold Investment Corp III Warrants
NHICW
$17.8M
$158K ﹤0.01%
438,625
– –
BHVN icon
1018
PUT
Biohaven
BHVN
$2.24B
$150K ﹤0.01%
+10,000
New +$146K
RAAQW
1019
DELISTED
Real Asset Acquisition Corp Warrants
RAAQW
$146K ﹤0.01%
325,000
– –
CHACR
1020
DELISTED
Crane Harbor Acquistion Corp Rights
CHACR
$144K ﹤0.01%
450,000
– –
MLTX icon
1021
MoonLake Immunotherapeutics
MLTX
$1.4B
$143K ﹤0.01%
20,000
-85,000
-81% -$4.43M
MLTX icon
1022
PUT
MoonLake Immunotherapeutics
MLTX
$1.4B
$143K ﹤0.01%
+20,000
New +$1.04M
KCHVR
1023
Kochav Defense Acquisition Corp Right
KCHVR
$143K ﹤0.01%
+650,000
New +$134K
LAC
1024
PUT
Lithium Americas
LAC
$1.24B
$143K ﹤0.01%
+25,000
New +$79K
KOYNW
1025
CSLM Digital Asset Acquisition Corp III Warrants
KOYNW
$140K ﹤0.01%
+325,000
New +$136K
39 40
41
42 43

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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.