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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
-1.15%
1 Year Est. Return
+30.2%
3 Year Est. Return
+99.99%
5 Year Est. Return
+135.78%
10 Year Est. Return
+485.17%
AUM
$29B
AUM Growth
-$1.36B
Cap. Flow
-$1.03B
Cap. Flow %
-3.55%
Top 10 Hldgs %
27.32%
Holding
1,717
New
560
Increased
295
Reduced
288
Closed
339

Top Buys

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$221M
2
UNH icon
UnitedHealth
UNH
+$208M
3
MU icon
Micron Technology
MU
+$196M
4
TSM icon
TSMC
TSM
+$173M
5
ORCL icon
Oracle
ORCL
+$134M

Top Sells

Rank Stock Value
1
CYBR
CyberArk
CYBR
+$232M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$217M
3
VRT icon
Vertiv
VRT
+$213M
4
COST icon
Costco
COST
+$188M
5
BP icon
BP
BP
+$170M

Sector Composition

Rank Sector Weight
1 Technology 14.15%
2 Financials 8.94%
3 Consumer Discretionary 6.12%
4 Healthcare 5.51%
5 Communication Services 3.82%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
YUMC icon
1626
Yum China
YUMC
$16.3B
– –
-145,365
Closed -$6.94M
ZS icon
1627
Zscaler
ZS
$26.1B
– –
-12,757
Closed -$2.87M
DAY
1628
DELISTED
Dayforce
DAY
– –
-341,401
Closed -$23.6M
GUTS icon
1629
Fractyl Health
GUTS
$109M
– –
-171,816
Closed -$378K
DJT icon
1630
Trump Media & Technology Group
DJT
$2.76B
– –
-15,000
Closed -$199K
CTRI icon
1631
Centuri Holdings
CTRI
$2.24B
– –
-101,560
Closed -$2.56M
CHA
1632
Chagee Holdings Ltd
CHA
$2.09B
– –
-179,772
Closed -$2.09M
INR
1633
Infinity Natural Resources
INR
$239M
– –
-50,073
Closed -$738K
TLN
1634
Talen Energy Corp
TLN
$15.8B
– –
-5,000
Closed -$1.87M
BWIN
1635
Baldwin Insurance Group
BWIN
$2.79B
– –
-22,740
Closed -$546K
QXO
1636
QXO Inc
QXO
$16.5B
– –
-35,000
Closed -$675K
ETHA
1637
iShares Ethereum Trust ETF
ETHA
$5.56B
– –
-100,000
Closed -$2.24M
ETHA
1638
PUT
iShares Ethereum Trust ETF
ETHA
$5.56B
– –
-100,000
Closed -$2.24M
ADGM
1639
Adagio Medical Holdings
ADGM
$16.4M
– –
-296,369
Closed -$308K
NBIS
1640
CALL
Nebius Group N.V.
NBIS
$55.6B
– –
-900,000
Closed -$75.3M
NBIS
1641
PUT
Nebius Group N.V.
NBIS
$55.6B
– –
-1,150,000
Closed -$96.3M
WRD
1642
CALL
WeRide Inc
WRD
$1.93B
– –
-4,000
Closed -$34.7K
WRD
1643
WeRide Inc
WRD
$1.93B
– –
-291,946
Closed -$2.53M
ORKA
1644
Oruka Therapeutics
ORKA
$5.86B
– –
-20,000
Closed -$606K
SEI
1645
Solaris Energy Infrastructure
SEI
$3.41B
– –
-25,602
Closed -$1.18M
AAM
1646
DELISTED
AA Mission Acquisition Corp
AAM
– –
-1,317,094
Closed -$14.1M
AAM.WS
1647
DELISTED
AA Mission Acquisition Corp Warrants
AAM.WS
– –
-500,000
Closed -$84.8K
MBAV
1648
DELISTED
M3-Brigade Acquisition V Corp
MBAV
– –
-15,000
Closed -$159K
GRDN
1649
PUT
Guardian Pharmacy Services
GRDN
$2.56B
– –
-40,000
Closed -$1.2M
FTW
1650
Presidio Production Co
FTW
$338M
– –
-692,000
Closed -$7.26M
64 65
66
67 68

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Hudson Bay Capital Management's Q1 2026 Portfolio in Review

As of Q1 2026, Hudson Bay Capital Management held 1,717 positions worth $29B, down 4.5% from $30.3B the previous quarter. Its ten largest holdings account for 27% of the portfolio.

Hudson Bay Capital Management withdrew a net $1.03B in Q1 2026, closing 339 positions and reducing 288 holdings. Its most notable exit was CyberArk, an estimated $232M position sold in full.

By sector, the portfolio is most concentrated in Technology at 14% of assets, up from 14% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Hudson Bay Capital Management opened a new position in UnitedHealth worth $189M.

  • Hudson Bay Capital Management's largest Q1 2026 buy was UnitedHealth: 700,000 shares worth $189M.
  • Hudson Bay Capital Management added most to Apple in Q1 2026, an estimated $221M increase.
  • Hudson Bay Capital Management's biggest Q1 2026 reduction was Alphabet (Google) Class A, cutting an estimated $217M.
  • Hudson Bay Capital Management fully exited CyberArk in Q1 2026, selling an estimated $232M.
  • Hudson Bay Capital Management's ten largest holdings make up 27% of its $29B portfolio in Q1 2026.
  • Hudson Bay Capital Management opened 560 new positions and closed 339 in Q1 2026.
  • Hudson Bay Capital Management's portfolio value fell 4.5% quarter-over-quarter to $29B.

Based on Hudson Bay Capital Management's 13F filing for Q1 2026, filed 13 May 2026.