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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
MRSH
1501
CALL
Marsh
MRSH
$91.3B
– –
-1,600
Closed -$350K
MRSH
1502
PUT
Marsh
MRSH
$91.3B
– –
-14,100
Closed -$3.08M
MNST icon
1503
CALL
Monster Beverage
MNST
$89.2B
– –
-12,000
Closed -$376K
MNST icon
1504
PUT
Monster Beverage
MNST
$89.2B
– –
-32,200
Closed -$1.01M
MO icon
1505
CALL
Altria Group
MO
$109B
– –
-6,000
Closed -$352K
MO icon
1506
PUT
Altria Group
MO
$109B
– –
-53,300
Closed -$3.12M
MORN icon
1507
Morningstar
MORN
$7.33B
– –
-660
Closed -$207K
MOS icon
1508
The Mosaic Company
MOS
$7.34B
– –
-60,756
Closed -$2.22M
MQ icon
1509
Marqeta
MQ
$1.62B
– –
-5,230
Closed -$122K
MRUS
1510
PUT
DELISTED
Merus
MRUS
– –
-50,000
Closed -$2.63M
MRVL icon
1511
CALL
Marvell Technology
MRVL
$191B
– –
-9,100
Closed -$704K
MS icon
1512
CALL
Morgan Stanley
MS
$338B
– –
-204,300
Closed -$28.8M
MS icon
1513
PUT
Morgan Stanley
MS
$338B
– –
-26,900
Closed -$3.79M
MSFT icon
1514
PUT
Microsoft
MSFT
$3.74T
– –
-57,500
Closed -$28.6M
MSM icon
1515
MSC Industrial Direct
MSM
$6.7B
– –
-5,340
Closed -$454K
MTCH icon
1516
Match Group
MTCH
$8.45B
– –
-18,680
Closed -$577K
MTH icon
1517
CALL
Meritage Homes
MTH
$4.81B
– –
-30,200
Closed -$2.02M
MTH icon
1518
Meritage Homes
MTH
$4.81B
– –
-13,077
Closed -$876K
MTH icon
1519
PUT
Meritage Homes
MTH
$4.81B
– –
-30,300
Closed -$2.03M
MTN icon
1520
Vail Resorts
MTN
$5.26B
– –
-16,649
Closed -$2.62M
MU icon
1521
CALL
Micron Technology
MU
$981B
– –
-160,000
Closed -$19.7M
NAK
1522
Northern Dynasty Minerals
NAK
$953M
– –
-250,000
Closed -$335K
NAMS icon
1523
NewAmsterdam Pharma
NAMS
$3.3B
– –
-10,739
Closed -$194K
NAMS icon
1524
PUT
NewAmsterdam Pharma
NAMS
$3.3B
– –
-30,000
Closed -$543K
NEE icon
1525
PUT
NextEra Energy
NEE
$179B
– –
-57,900
Closed -$4.02M
59 60
61
62 63

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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.