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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
+485.17%
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
NVDA icon
1
PUT
NVIDIA
NVDA
$4.86T
$1.32B 4.4%
7,100,100
-665,400
-9% -$116M
NVDA icon
2
NVIDIA
NVDA
$4.86T
$1.11B 3.7%
5,957,955
-1,066,347
-15% -$186M
AMZN icon
3
Amazon
AMZN
$2.92T
$977M 3.25%
4,451,145
+2,301,110
+107% +$521M
TSLA icon
4
PUT
Tesla
TSLA
$1.23T
$976M 3.25%
2,195,000
-802,500
-27% -$278M
AMZN icon
5
PUT
Amazon
AMZN
$2.92T
$960M 3.19%
4,370,000
+1,294,500
+42% +$293M
IWM icon
6
PUT
iShares Russell 2000 ETF
IWM
$79.8B
$871M 2.9%
3,600,000
+2,285,300
+174% +$524M
SPY icon
7
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$790B
$792M 2.63%
1,188,200
-205,000
-15% -$131M
TSLA icon
8
Tesla
TSLA
$1.23T
$788M 2.62%
1,770,975
-42,656
-2% -$14.8M
HYG icon
9
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
$568M 1.89%
7,000,000
+2,200,000
+46% +$177M
QQQ icon
10
PUT
Invesco QQQ Trust
QQQ
$453B
$487M 1.62%
810,500
-1,371,900
-63% -$786M
AAPL icon
11
PUT
Apple
AAPL
$4.54T
$471M 1.57%
1,850,000
+1,389,900
+302% +$314M
FLG
12
Flagstar Bank National Association
FLG
$5.93B
$401M 1.33%
34,689,439
– –
IBIT icon
13
PUT
iShares Bitcoin Trust
IBIT
$46.7B
$360M 1.2%
5,538,300
+3,888,300
+236% +$253M
NFLX icon
14
PUT
Netflix
NFLX
$299B
$360M 1.2%
3,000,000
+700,000
+30% +$85.4M
BRK.B icon
15
PUT
Berkshire Hathaway Class B
BRK.B
$1.1T
$344M 1.14%
684,000
-466,000
-41% -$226M
AMD icon
16
Advanced Micro Devices
AMD
$776B
$312M 1.04%
1,926,156
-1,274,575
-40% -$206M
AMD icon
17
PUT
Advanced Micro Devices
AMD
$776B
$311M 1.04%
1,925,000
-1,375,000
-42% -$222M
MSTR icon
18
PUT
Strategy Inc
MSTR
$34.1B
$293M 0.98%
910,400
-229,700
-20% -$85.2M
BRK.B icon
19
Berkshire Hathaway Class B
BRK.B
$1.1T
$293M 0.98%
583,415
-104,190
-15% -$50.5M
HOOD icon
20
CALL
Robinhood
HOOD
$77.8B
$271M 0.9%
1,889,300
+204,900
+12% +$22.3M
NFLX icon
21
CALL
Netflix
NFLX
$299B
$264M 0.88%
2,200,000
-58,000
-3% -$7.08M
SPY icon
22
State Street SPDR S&P 500 ETF Trust
SPY
$790B
$258M 0.86%
387,000
+255,501
+194% +$164M
AAPL icon
23
Apple
AAPL
$4.54T
$257M 0.86%
1,010,591
+940,419
+1,340% +$212M
NVDA icon
24
CALL
NVIDIA
NVDA
$4.86T
$249M 0.83%
1,334,600
+833,900
+167% +$145M
DLTR icon
25
PUT
Dollar Tree
DLTR
$24.4B
$236M 0.78%
2,500,000
– –
1
2 3 4 5

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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.