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Hedge fund

Hudson Bay Capital Management LP

13F for the quarter to June 30, 2026, filed August 14, 2026 · SEC CIK 1393825

Reported value
$19.3bn
84% in companies we cover
Positions we cover
723
Largest AMZN 5.1%
Copy, a year
+14.3%
S&P 500 +14.1%
Copy Sharpe ratio
0.67
S&P 500 0.78

How copying its 13F would have done

$10.0k$20.0k$40.0k 2013201520172019202120232025 $58.2k$57.0k
CopyS&P 500 $10,000 copying Hudson Bay Capital Management LP's filed holdings in companies we cover from August 16, 2013, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −32.3% (S&P 500 −31.8%); beta 1.12; alpha −0.6% a year (t = −0.24); last 12 months +7.4% against +12.1%.

Reported value by quarter

Hudson Bay Capital Management LP: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).
$0 $2T $4T $6T $8T Reported value, 2013-06-30: $949.2M Reported value, 2013-09-30: $893M Reported value, 2013-12-31: $985.7M Reported value, 2014-03-31: $1.3B Reported value, 2014-06-30: $1B Reported value, 2014-09-30: $1.4B Reported value, 2014-12-31: $917.2M Reported value, 2015-03-31: $1.1B Reported value, 2015-06-30: $1.4B Reported value, 2015-09-30: $1B Reported value, 2015-12-31: $778.5M Reported value, 2016-03-31: $937.9M Reported value, 2016-06-30: $996.6M Reported value, 2016-09-30: $1.1B Reported value, 2016-12-31: $2.7B Reported value, 2017-03-31: $2.3B Reported value, 2017-06-30: $2.1B Reported value, 2017-09-30: $2B Reported value, 2017-12-31: $2.5B Reported value, 2018-03-31: $2.2B Reported value, 2018-06-30: $2.6B Reported value, 2018-09-30: $2.7B Reported value, 2018-12-31: $2.7B Reported value, 2019-03-31: $2.5B Reported value, 2019-06-30: $2.4B Reported value, 2019-09-30: $2.3B Reported value, 2019-12-31: $2.8B Reported value, 2020-03-31: $2.4B Reported value, 2020-06-30: $3.1B Reported value, 2020-09-30: $3.5B Reported value, 2020-12-31: $8.9B Reported value, 2021-03-31: $5.3B Reported value, 2021-06-30: $6.3B Reported value, 2021-09-30: $5.2B Reported value, 2021-12-31: $7.2B Reported value, 2022-03-31: $5.2B Reported value, 2022-06-30: $8.8B Reported value, 2022-09-30: $8.3B Reported value, 2022-12-31: $7.2T Reported value, 2023-03-31: $14.7B Reported value, 2023-06-30: $8.9B Reported value, 2023-09-30: $18.9B Reported value, 2023-12-31: $10.3B Reported value, 2024-03-31: $10.3B Reported value, 2024-06-30: $11.7B Reported value, 2024-09-30: $12.6B Reported value, 2024-12-31: $14B Reported value, 2025-03-31: $13.8B Reported value, 2025-06-30: $13.6B Reported value, 2025-09-30: $14.3B Reported value, 2025-12-31: $16B Reported value, 2026-03-31: $15B Reported value, 2026-06-30: $19.3B 2013-06-30 2016-03-31 2018-12-31 2021-09-30 2026-06-30 $19.3B
View chart data
Period Reported value
2013-06-30 $949.2M
2013-09-30 $893M
2013-12-31 $985.7M
2014-03-31 $1.3B
2014-06-30 $1B
2014-09-30 $1.4B
2014-12-31 $917.2M
2015-03-31 $1.1B
2015-06-30 $1.4B
2015-09-30 $1B
2015-12-31 $778.5M
2016-03-31 $937.9M
2016-06-30 $996.6M
2016-09-30 $1.1B
2016-12-31 $2.7B
2017-03-31 $2.3B
2017-06-30 $2.1B
2017-09-30 $2B
2017-12-31 $2.5B
2018-03-31 $2.2B
2018-06-30 $2.6B
2018-09-30 $2.7B
2018-12-31 $2.7B
2019-03-31 $2.5B
2019-06-30 $2.4B
2019-09-30 $2.3B
2019-12-31 $2.8B
2020-03-31 $2.4B
2020-06-30 $3.1B
2020-09-30 $3.5B
2020-12-31 $8.9B
2021-03-31 $5.3B
2021-06-30 $6.3B
2021-09-30 $5.2B
2021-12-31 $7.2B
2022-03-31 $5.2B
2022-06-30 $8.8B
2022-09-30 $8.3B
2022-12-31 $7.2T
2023-03-31 $14.7B
2023-06-30 $8.9B
2023-09-30 $18.9B
2023-12-31 $10.3B
2024-03-31 $10.3B
2024-06-30 $11.7B
2024-09-30 $12.6B
2024-12-31 $14B
2025-03-31 $13.8B
2025-06-30 $13.6B
2025-09-30 $14.3B
2025-12-31 $16B
2026-03-31 $15B
2026-06-30 $19.3B

Holdings and moves

CompanyShare of portfolioValueSharesChange in shares
AMZNAmazon5.10%$981.8m4.12M+39.6% Added
TSMTaiwan Semiconductor Manufacturing Co LTD4.79%$923.2m1.93M+169.7% Added
TSLATesla, Inc.4.48%$863.5m2.05M+8.2% Added
NVDANVIDIA Corporation4.08%$785.8m3.93M−24.7% Reduced
SNDKSandisk3.61%$696.0m306.1KNew
PLTRPalantir Technologies Inc.3.42%$658.3m5.64M+108.3% Added
GOOGLAlphabet Inc. (Class A)2.90%$559.0m1.56M+400.3% Added
AMDAdvanced Micro Devices2.07%$398.4m685.8K−57.7% Reduced
MSFTMicrosoft Corporation2.02%$388.5m1.04M+42.8% Added
METAMeta Platforms1.49%$287.9m511.0K+868.6% Added
INTCIntel1.44%$276.9m1.98M+3.3% Added
SPCXSpace Exploration Technologies Corp1.39%$267.3m1.56MNew
NFLXNetflix1.06%$204.6m2.87M−37.5% Reduced
SNPSSynopsys Inc1.02%$195.8m438.9K+945.0% Added
VRTXVertex Pharmaceuticals1.01%$193.9m390.4K+767.6% Added
AAPLApple Inc.0.95%$182.6m631.1K−69.1% Reduced
NSCNorfolk Southern0.79%$153.0m486.3K+17.9% Added
DLTRDollar Tree0.79%$152.6m1.26M+11.7% Added
FLGFlagstar Bank, National Association0.76%$145.4m9.73M−71.9% Reduced
ABTAbbott Laboratories0.75%$145.2m1.60M+2033.3% Added
ADBEAdobe Inc.0.71%$136.5m665.6K+55.3% Added
VVisa Inc.0.70%$134.2m391.2KNew
ISRGIntuitive Surgical0.68%$130.0m327.0K+227.0% Added
BEBloom Energy0.66%$127.5m421.2K+31.1% Added
MCHPMicrochip Technology Inc0.64%$122.6m1.34M+3175.3% Added
SHOPShopify Inc.0.63%$121.7m1.07M+12.2% Added
LLYLilly (Eli)0.62%$119.9m100.0K+49.2% Added
ANETArista Networks0.55%$105.9m623.5K−20.7% Reduced
UNHUnitedHealth Group0.55%$105.7m254.3K−63.7% Reduced
AMGNAmgen0.53%$101.8m281.0KNew
ABBVAbbVie0.53%$101.3m402.4K+1911.2% Added
AHRAmerican Healthcare Reit, Inc.0.52%$99.4m1.91M+59.5% Added
ITGRInteger Holdings Corp0.48%$93.5m1.00M0.0%
BTUPeabody Energy Corp0.47%$89.8m3.88M+73.5% Added
HDThe Home Depot0.44%$83.9m238.0K+2019.1% Added
EOSEEos Energy Enterprises, Inc.0.42%$80.5m13.68MNew
PHParker Hannifin0.40%$76.1m77.8K+540.6% Added
BLKBlackRock0.39%$74.7m77.7K+391.8% Added
MSMorgan Stanley0.39%$74.3m355.5K+103.8% Added
WMTWalmart0.37%$71.7m632.9K+994.9% Added
ETREntergy0.34%$65.4m569.6K+7.8% Added
NWENorthwestern Energy Group, Inc.0.34%$64.7m903.0K+44.5% Added
ROKURoku, Inc0.33%$64.2m465.0K+2881.7% Added
WFCWells Fargo0.33%$64.2m777.1K+18.2% Added
PENPenumbra Inc0.33%$64.1m203.1K−41.8% Reduced
AEPAmerican Electric Power0.32%$61.7m450.7K+52.4% Added
COFCapital One0.32%$60.9m303.7K+16.5% Added
MNSTMonster Beverage0.31%$60.2m626.8K+11.5% Added
CMGChipotle Mexican Grill0.31%$59.2m1.74M+32.9% Added
NEOGNeogen Corp0.30%$58.4m6.50M0.0%
UALUnited Airlines Holdings0.30%$57.9m425.8K+7.4% Added
IBMIBM0.29%$56.2m200.0KNew
SUISUN Communities Inc0.29%$55.6m463.9K+201.6% Added
ABNBAirbnb0.27%$52.8m369.2K+20.3% Added
NNNNNN Reit, Inc.0.27%$51.3m1.10M−0.7% Reduced
TXNMTxnm Energy Inc0.26%$50.4m888.0K+12.1% Added
CORZCore Scientific, Inc.0.25%$48.5m1.90M+440.8% Added
BMRNBiomarin Pharmaceutical Inc0.24%$47.2m825.0K−15.4% Reduced
UDRUDR, Inc.0.24%$47.1m1.18M+49.6% Added
ECHOEchoStar0.24%$46.5m457.7K+177.1% Added
ALNYAlnylam Pharmaceuticals, Inc.0.23%$44.8m148.7K+271.8% Added
KEELKeel Infrastructure Corp.0.23%$44.2m7.70MNew
DLRDigital Realty0.23%$43.3m241.1KNew
AZOAutoZone0.22%$43.1m13.5K0.0%
NATLNCR Atleos Corp0.22%$43.1m992.9KNew
KVUEKenvue0.22%$41.9m2.19M−46.3% Reduced
FEFirstEnergy0.21%$40.6m854.8K−19.1% Reduced
FCPTFour Corners Property Trust, Inc.0.21%$40.1m1.63MNew
XELXcel Energy0.20%$39.5m491.6K+4.2% Added
LPLALPL Financial Holdings Inc.0.20%$38.9m138.2K+2.1% Added
CBRSCerebras Systems Inc.0.20%$38.6m174.7KNew
AEEAmeren0.20%$38.6m341.5K−8.6% Reduced
HWMHowmet Aerospace0.20%$38.1m141.8KNew
OHIOmega Healthcare Investors Inc0.20%$38.1m799.4KNew
AKRAcadia Realty Trust0.19%$37.1m1.77M+10.8% Added
JPMJPMorgan Chase0.19%$35.8m109.4K−44.7% Reduced
NVONovo Nordisk A S0.18%$35.0m730.0K+483.8% Added
TDSTelephone & Data Systems Inc0.18%$34.9m942.1K+15.1% Added
EVRGEvergy0.18%$34.6m400.5K+93.5% Added
SKTTanger Inc.0.18%$34.2m866.3K+56.8% Added
REXRRexford Industrial Realty, Inc.0.17%$33.5m1.00MNew
TMSTeamshares Inc0.17%$32.9m4.00MNew
VISNVistance Networks, Inc.0.17%$32.0m2.50M−41.6% Reduced
BSXBoston Scientific0.17%$31.7m742.9K+53.5% Added
COPConocoPhillips0.16%$31.4m301.9KNew
BRXBrixmor Property Group Inc.0.16%$30.6m970.8KNew
RTXRTX Corporation0.16%$30.2m159.3K−40.7% Reduced
NOWServiceNow0.16%$30.1m303.1KNew
COHRCoherent Corp.0.15%$29.3m74.2K−38.1% Reduced
CUBECubesmart0.15%$29.2m734.8K−5.1% Reduced
BXPBXP, Inc.0.15%$28.9m435.9K+184.6% Added
JCIJohnson Controls0.15%$28.7m196.2K−10.3% Reduced
MTDMettler Toledo0.15%$28.1m22.0K0.0%
CMICummins0.14%$27.3m38.2K+7.0% Added
PNCPNC Financial Services0.14%$26.9m109.4K+7.8% Added
CFGCitizens Financial Group0.14%$26.4m377.0K+6.1% Added
BABoeing0.13%$25.8m119.1K+141.2% Added
EXRExtra Space Storage0.13%$25.5m175.3KNew
PECOPhillips Edison & Company, Inc.0.13%$24.9m599.0K−34.2% Reduced
BHCBausch Health Companies Inc.0.13%$24.6m5.00M0.0%
LNCLincoln National Corp0.13%$24.5m694.0K+42.5% Added
CSXCSX Corporation0.13%$24.3m512.0K+13.2% Added
BNTXBiontech SE0.13%$24.2m260.0K−5.5% Reduced
PODDInsulet Corporation0.12%$23.6m155.0K+40.9% Added
FSLRFirst Solar, Inc.0.12%$23.6m100.0K−50.0% Reduced
AESAES Corporation0.12%$23.5m1.60M−17.9% Reduced
WECWEC Energy Group0.12%$23.4m200.4K+120.8% Added
VRSKVerisk Analytics, Inc.0.12%$23.4m130.2KNew
IRTIndependence Realty Trust, Inc.0.12%$22.5m1.35MNew
COINCoinbase0.11%$22.1m150.9K−13.8% Reduced
NBIXNeurocrine Biosciences Inc0.11%$21.9m130.0K−67.2% Reduced
ALLAllstate0.11%$21.4m90.0KNew
LNTAlliant Energy0.11%$21.2m277.7K−45.5% Reduced
MSCIMSCI0.11%$20.6m36.7K−14.3% Reduced
INIOInnio N.V.0.11%$20.5m517.3KNew
TNLTravel & Leisure Co.0.11%$20.4m267.0K+42.6% Added
TTWOTake TWO Interactive Software Inc0.10%$20.0m80.0KNew
BIIBBiogen0.10%$19.4m90.0K−55.3% Reduced
LFUSLittelfuse Inc0.10%$19.3m42.4K+8.1% Added
FPSForgent Power Solutions, Inc.0.10%$19.3m345.2K−36.6% Reduced
ICEIntercontinental Exchange0.10%$18.9m153.4K+15.0% Added
AMEAmetek0.10%$18.8m77.8K−0.5% Reduced
CSRCenterspace0.10%$18.8m334.7KNew
NEENextEra Energy0.10%$18.8m214.3K0.0%
PPLPPL Corporation0.10%$18.8m517.4K−55.0% Reduced
IMCRImmunocore Holdings plc0.10%$18.7m590.0K−6.8% Reduced
EDConsolidated Edison0.10%$18.7m169.3K+5.8% Added
AIGAmerican International Group0.10%$18.7m250.7K+9.2% Added
DHCDiversified Healthcare Trust0.10%$18.6m2.00M−0.2%
HLTHilton Worldwide0.10%$18.3m55.3KNew
YUMYum! Brands0.09%$18.1m113.3K−10.8% Reduced
VSATViasat Inc0.09%$18.0m200.0K+4110.5% Added
GLPIGaming & Leisure Properties, Inc.0.09%$17.7m398.4K+97.7% Added
CLSKCleanspark, Inc.0.09%$17.5m1.20MNew
BNYBNY Mellon0.09%$17.2m119.0K+17.3% Added
AXPAmerican Express0.09%$17.1m50.7K+94.4% Added
VSTVistra Corp.0.09%$16.6m104.6K+9.4% Added
ASMLAsml Holding NV0.09%$16.4m8.2K+13.3% Added
TXRHTexas Roadhouse, Inc.0.08%$16.2m84.0KNew
HAYWHayward Holdings, Inc.0.08%$15.8m915.4K+89.0% Added
MAIRMadison Air Solutions Corp0.08%$15.7m401.7KNew
TEXTerex Corp0.08%$15.5m214.4K+165.1% Added
SWXSouthwest Gas Holdings, Inc.0.08%$15.5m174.7K−2.0% Reduced
LITELumentum0.08%$15.4m18.0K+182.2% Added
VSECVSE Corp0.08%$15.4m67.5K+117.2% Added
CNOCNO Financial Group, Inc.0.08%$15.3m300.8K+7.8% Added
ORLYO'Reilly Automotive0.08%$15.3m165.7K+255.5% Added
WMBWilliams Companies0.08%$15.0m202.3K+264.9% Added
BFHBread Financial Holdings, Inc.0.08%$14.8m136.7K+3.9% Added
NRGNRG Energy0.08%$14.7m100.6K−28.0% Reduced
CompanyBought (value)Shares
SNDKSandisk$696.0m306.1K
TSMTaiwan Semiconductor Manufacturing Co LTD$580.9m1.22M
GOOGLAlphabet Inc. (Class A)$447.2m1.25M
PLTRPalantir Technologies Inc.$342.3m2.93M
AMZNAmazon$278.4m1.17M
SPCXSpace Exploration Technologies Corp$267.3m1.56M
METAMeta Platforms$258.1m458.3K
SNPSSynopsys Inc$177.0m396.9K
VRTXVertex Pharmaceuticals$171.6m345.4K
ABTAbbott Laboratories$138.4m1.52M
VVisa Inc.$134.2m391.2K
MCHPMicrochip Technology Inc$118.8m1.30M
MSFTMicrosoft Corporation$116.4m312.1K
AMGNAmgen$101.8m281.0K
ABBVAbbVie$96.2m382.4K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanySold (value)Shares
AMDAdvanced Micro Devices−$544.3m−937.0K
AAPLApple Inc.−$407.5m−1.41M
FLGFlagstar Bank, National Association−$372.8m−24.96M
NVDANVIDIA Corporation−$258.4m−1.29M
UNHUnitedHealth Group−$185.3m−445.7K
MUMicron Technology−$168.9m−500.1K
AVGOBroadcom−$154.8m−500.0K
NFLXNetflix−$122.5m−1.72M
ORCLOracle Corporation−$118.5m−808.6K
DISThe Walt Disney Company−$106.0m−1.10M
CARAvis Budget Group, Inc.−$72.9m−500.0K
CCitigroup−$65.3m−466.4K
CSCOCisco−$58.6m−499.1K
POWIPower Integrations Inc−$51.2m−1.00M
VALValaris Ltd−$49.0m−499.6K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanyValue last quarterShares
MUMicron Technology$168.9m500.1K
AVGOBroadcom$154.8m500.0K
DISThe Walt Disney Company$106.0m1.10M
CARAvis Budget Group, Inc.$72.9m500.0K
POWIPower Integrations Inc$51.2m1.00M
VALValaris Ltd$49.0m499.6K
WELLWelltower$46.5m235.3K
NTSTNetstreit Corp.$42.3m2.25M
EGPEastgroup Properties Inc$36.6m197.6K
DUKDuke Energy$24.7m188.5K
PSAPublic Storage$23.8m87.8K
IRMIron Mountain$19.5m190.9K
FITBFifth Third Bancorp$16.5m355.2K
VMRKVivmark Residential$16.2m273.2K
ABVXAbivax S.a.$15.5m139.4K
HBANHuntington Bancshares$14.8m947.3K
TEAMAtlassian Corp$14.1m206.0K
GPNGlobal Payments$13.9m207.1K
OPTUOptimum Communications, Inc.$13.7m10.54M
LVSLas Vegas Sands$12.3m227.6K
BHFBrighthouse Financial, Inc.$12.1m202.5K
PLDPrologis$11.9m90.0K
VERXVertex, Inc.$11.9m1.00M
SSBSouthstate Bank Corp$11.7m126.9K
INDVIndivior Pharmaceuticals, Inc.$11.1m364.2K
SAPSAP SE$10.3m60.0K
SYFSynchrony Financial$10.2m150.0K
CPTCamden Property Trust$9.5m97.5K
QSRRestaurant Brands International Inc.$9.3m126.4K
SUSuncor Energy Inc$8.7m131.8K
  • Technology34.5%
  • Consumer Discretionary15.0%
  • Health Care10.8%
  • Industrials9.8%
  • Communication Services8.0%
  • Financials7.5%
  • Real Estate5.3%
  • Utilities4.1%
  • Consumer Staples2.8%
  • Energy1.3%
  • Materials0.9%

Share of the value held in companies we cover, by sector.

PeriodCopy, a yearS&P 500SharpeS&P 500Biggest dropBeta
Whole backtestAugust 16, 2013 to November 2, 2026+14.3%+14.1%0.670.78−32.3%1.12
2018 onwardsJanuary 5, 2018 to November 2, 2026+15.3%+13.9%0.650.66−32.3%1.09
Last three yearsNovember 3, 2023 to November 2, 2026+21.4%+21.8%0.941.16−20.8%1.19
Last yearNovember 7, 2025 to November 2, 2026+11.2%+14.2%0.500.84−9.7%1.18

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.