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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
KFIIR
1101
K&F Growth Acquisition Corp II Rights
KFIIR
$56.2K ﹤0.01%
374,953
-425,047
-53% -$64K
EVAC.WS
1102
EQV Ventures Acquisition Corp II Warrants
EVAC.WS
$56K ﹤0.01%
+233,333
New +$64.9K
RIBBR
1103
Ribbon Acquisition Corp Rights
RIBBR
$55K ﹤0.01%
250,000
– –
YELP icon
1104
Yelp
YELP
$1.32B
$54.6K ﹤0.01%
+1,750
New +$57.4K
GNRC icon
1105
Generac Holdings
GNRC
$12.8B
$53.4K ﹤0.01%
+319
New +$55.9K
FERAR
1106
Fifth Era Acquisition Corp I Rights
FERAR
$53K ﹤0.01%
200,000
– –
PLBY icon
1107
Playboy Inc
PLBY
$149M
$52K ﹤0.01%
+35,385
New +$60.8K
HIVE
1108
HIVE Digital Technologies
HIVE
$706M
$51.2K ﹤0.01%
+12,700
New +$34.2K
QSEAR
1109
Quartzsea Acquisition Corp Rights
QSEAR
$50.3K ﹤0.01%
175,000
– –
NOEMW
1110
CO2 Energy Transition Corp Warrant
NOEMW
$1.1M
$49K ﹤0.01%
290,000
– –
KKR icon
1111
KKR & Co
KKR
$103B
$48.1K ﹤0.01%
370
-56,974
-99% -$8.09M
RDAGW
1112
Republic Digital Acquisition Co Warrants
RDAGW
$4.5M
$47.6K ﹤0.01%
73,290
– –
COPL.WS
1113
Copley Acquisition Corp Warrants
COPL.WS
$47.5K ﹤0.01%
+250,000
New +$45.8K
GOVX icon
1114
GeoVax Labs
GOVX
$3.74M
$47.3K ﹤0.01%
+4,000
New +$70K
BTMWW
1115
DELISTED
Bitcoin Depot Inc Warrant
BTMWW
$46.3K ﹤0.01%
186,527
– –
BLUWW
1116
Blue Water Acquisition Corp III Warrant
BLUWW
$46.1K ﹤0.01%
+325,000
New +$49K
EVGOW
1117
DELISTED
EVgo Inc Warrants
EVGOW
$45.3K ﹤0.01%
238,500
– –
QUMSR
1118
Quantumsphere Acquisition Corp Rights
QUMSR
$44.6K ﹤0.01%
+235,000
New +$44.6K
FRMM
1119
Forum Markets
FRMM
$82.4M
$43K ﹤0.01%
+1,783
New +$53.4K
BLDP
1120
Ballard Power Systems
BLDP
$790M
$42.9K ﹤0.01%
+15,837
New +$32.4K
OBAWW
1121
Oxley Bridge Acquisition Ltd Warrants
OBAWW
$2.78M
$42.5K ﹤0.01%
+250,000
New +$41.2K
ORIQW
1122
Origin Investment Corp I Warrant
ORIQW
$42.5K ﹤0.01%
+250,000
New +$38.3K
USAS
1123
Americas Gold and Silver
USAS
$1.7B
$42K ﹤0.01%
+11,260
New +$29.4K
DTSQR
1124
DT Cloud Star Acquisition Corp Right
DTSQR
$39K ﹤0.01%
195,000
– –
HOVRW icon
1125
New Horizon Aircraft Ltd
HOVRW
$12.3M
$38.5K ﹤0.01%
99,290
– –
43 44
45
46 47

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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.