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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
WMB icon
1701
Williams Companies
WMB
$89.3B
– –
-19,620
Closed -$1.23M
WMS icon
1702
CALL
Advanced Drainage Systems
WMS
$11.3B
– –
-10,100
Closed -$1.16M
WMS icon
1703
PUT
Advanced Drainage Systems
WMS
$11.3B
– –
-9,300
Closed -$1.07M
WMT icon
1704
PUT
Walmart Inc
WMT
$921B
– –
-50,000
Closed -$4.89M
WSM icon
1705
CALL
Williams-Sonoma
WSM
$28.5B
– –
-20,900
Closed -$3.41M
WSM icon
1706
PUT
Williams-Sonoma
WSM
$28.5B
– –
-12,600
Closed -$2.06M
WST icon
1707
West Pharmaceutical
WST
$24.4B
– –
-1,704
Closed -$373K
WY icon
1708
Weyerhaeuser
WY
$17.9B
– –
-263,839
Closed -$6.78M
WY icon
1709
PUT
Weyerhaeuser
WY
$17.9B
– –
-901,700
Closed -$23.2M
XLV icon
1710
State Street Health Care Select Sector SPDR ETF
XLV
$44B
– –
-150,225
Closed -$20.2M
YMM icon
1711
Full Truck Alliance
YMM
$9.2B
– –
-143,222
Closed -$1.69M
ZNTL icon
1712
Zentalis Pharmaceuticals
ZNTL
$297M
– –
-16,638
Closed -$19.3K
ZM icon
1713
Zoom
ZM
$32.2B
– –
-7,060
Closed -$551K
ZS icon
1714
Zscaler
ZS
$30.4B
– –
-6,442
Closed -$2.02M
BTSG icon
1715
BrightSpring Health Services
BTSG
$11.9B
– –
-55,000
Closed -$1.3M
GUTS icon
1716
Fractyl Health
GUTS
$105M
– –
-12,457
Closed -$20.2K
BBOT
1717
BridgeBio Oncology
BBOT
$740M
– –
-108,300
Closed -$1.15M
UCFI
1718
CN Healthy Food Tech Group
UCFI
– –
-275,000
Closed -$2.89M
JVSAR
1719
DELISTED
JV SPAC Acquisition Corp. Right
JVSAR
– –
-100,000
Closed -$87K
DJT icon
1720
Trump Media & Technology Group
DJT
$2.31B
– –
-1,360,808
Closed -$24.5M
CHA
1721
Chagee Holdings Ltd
CHA
$1.95B
– –
-100,000
Closed -$2.61M
GRAL
1722
CALL
GRAIL Inc
GRAL
$3.05B
– –
-41,600
Closed -$2.14M
SW
1723
Smurfit Westrock
SW
$26.2B
– –
-5,188
Closed -$224K
MKDWW
1724
MKDWELL Tech Inc Warrants
MKDWW
– –
-200,000
Closed -$2.34K
EXE
1725
Expand Energy Corp
EXE
$21.9B
– –
-4,320
Closed -$505K
67 68
69
70 71

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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.