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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
PRMB
1726
Primo Brands
PRMB
$8.56B
– –
-42,178
Closed -$1.25M
PONY
1727
CALL
Pony AI Inc
PONY
$3.68B
– –
-120,200
Closed -$1.59M
DYNCW
1728
Dynamix Corp Warrant
DYNCW
$1.42M
– –
-200,000
Closed -$72K
TTAN
1729
ServiceTitan Inc
TTAN
$8.43B
– –
-20,000
Closed -$2.14M
GSRTR
1730
DELISTED
GSR III Acquisition Corp Right
GSRTR
– –
-40,254
Closed -$275K
WLAC
1731
DELISTED
Willow Lane Acquisition Corp
WLAC
– –
-750,000
Closed -$7.67M
MRP
1732
CALL
Millrose Properties Inc
MRP
$4.94B
– –
-9,500
Closed -$271K
SMA
1733
SmartStop Self Storage REIT
SMA
$1.88B
– –
-502,406
Closed -$18.2M
BULLW
1734
Webull Corp Warrants
BULLW
$103M
– –
-104,387
Closed -$412K
COPL.U
1735
Copley Acquisition Corp Units
COPL.U
– –
-250,000
Closed -$41.9K
NVACW
1736
DELISTED
NorthView Acquisition Corporation Warrant
NVACW
– –
-281,328
Closed -$113K
AII
1737
American Integrity Insurance
AII
$396M
– –
-96,312
Closed -$1.77M
AHL
1738
DELISTED
Aspen Insurance
AHL
– –
-15,000
Closed -$472K
EGHAU
1739
EGH Acquisition Corp Unit
EGHAU
– –
-319,900
Closed -$3.26M
CCCXU
1740
DELISTED
Churchill Capital Corp X Unit
CCCXU
– –
-950,000
Closed -$9.79M
TVAIU
1741
Thayer Ventures Acquisition Corporation II Unit
TVAIU
– –
-375,000
Closed -$3.81M
WENNU
1742
Wen Acquisition Corp Unit
WENNU
– –
-92,887
Closed -$985K
PCAPU
1743
ProCap Acquisition Corp Unit
PCAPU
– –
-327,939
Closed -$3.52M
OYSEU
1744
Oyster Enterprises II Acquisition Corp Units
OYSEU
– –
-696,630
Closed -$7.05M
KCHVU
1745
Kochav Defense Acquisition Corp Units
KCHVU
– –
-650,000
Closed -$6.61M
WTGUU
1746
Wintergreen Acquisition Corp Unit
WTGUU
– –
-100,000
Closed -$1.01M
OMDA
1747
Omada Health Inc
OMDA
$1.46B
– –
-60,500
Closed -$1.11M
BLUWU
1748
Blue Water Acquisition Corp III Unit
BLUWU
– –
-650,000
Closed -$6.5M
VOYG
1749
Voyager Technologies
VOYG
$2.6B
– –
-15,000
Closed -$589K
CHYM
1750
Chime Financial
CHYM
$12B
– –
-22,903
Closed -$790K
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.