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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
IMSR
1651
PUT
Terrestrial Energy
IMSR
$567M
– –
-100,000
Closed -$611K
PONY
1652
CALL
Pony AI Inc
PONY
$3.39B
– –
-2,000
Closed -$29K
PONY
1653
Pony AI Inc
PONY
$3.39B
– –
-66,149
Closed -$959K
BACQR
1654
DELISTED
Inflection Point Acquisition Corp IV Right
BACQR
– –
-572,182
Closed -$421K
MRLN
1655
Merlin Inc
MRLN
$401M
– –
-432,943
Closed -$4.64M
BEAGR
1656
Bold Eagle Acquisition Corp Right
BEAGR
– –
-14,357
Closed -$4.59K
OACCW
1657
Oaktree Acquisition Corp III Life Sciences Warrant
OACCW
$3.68M
– –
-39,680
Closed -$28.2K
XYZ
1658
Block Inc
XYZ
$50.1B
– –
-100,808
Closed -$6.56M
PLMKW
1659
Plum Acquisition Corp IV Warrants
PLMKW
$3.97M
– –
-281,068
Closed -$76K
HSPT
1660
DELISTED
Horizon Space Acquisition II Corp
HSPT
– –
-400,000
Closed -$4.22M
SAIL
1661
SailPoint Inc
SAIL
$10.1B
– –
-198,907
Closed -$4.02M
SGI
1662
Somnigroup International
SGI
$14.6B
– –
-91,961
Closed -$8.21M
TIC
1663
TIC Solutions Inc
TIC
$1.81B
– –
-50,000
Closed -$506K
CEPT
1664
DELISTED
Cantor Equity Partners II
CEPT
– –
-10,000
Closed -$113K
CRCL
1665
Circle Internet Group
CRCL
$15.7B
– –
-500,000
Closed -$39.6M
CRCL
1666
PUT
Circle Internet Group
CRCL
$15.7B
– –
-500,000
Closed -$39.6M
BRRWW
1667
ProCap Financial Inc
BRRWW
$2.19M
– –
-77,500
Closed -$54.3K
CCCX
1668
DELISTED
Churchill Capital Corp X
CCCX
– –
-5,000
Closed -$78K
FIG
1669
Figma
FIG
$14.9B
– –
-7,832
Closed -$293K
FLY
1670
CALL
Firefly Aerospace
FLY
$3.75B
– –
-220,000
Closed -$4.92M
BCARW
1671
D. Boral ARC Acquisition I Corp Warrant
BCARW
$7.42M
– –
-307,726
Closed -$112K
APADR
1672
DELISTED
A Paradise Acquisition Corp Rights
APADR
– –
-398,596
Closed -$99.6K
FIGR
1673
Figure Technology Solutions
FIGR
$6.35B
– –
-15,788
Closed -$645K
STUB
1674
PUT
StubHub Holdings
STUB
$3.42B
– –
-250,000
Closed -$3.38M
NTSK
1675
Netskope Inc
NTSK
$5.69B
– –
-129,916
Closed -$2.28M
65 66
67
68 69

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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.