HBK INVESTMENTS L P

Registered adviser

CIK

1011443

Location

DALLAS, TX

Portfolio Value

Mid $8,562,577,299

Diversification

Diversified

Filing Date

Global Rank

#601 / 8,818 ▼ 94

Top Industry

Engineering & Construction 12.6%

Period ended 4 months ago

Filed Sep 16, 2026 · 42d

26 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 115079

Roster of Oct 1, 2026

Regulatory AUM

$35,613,522,000

Main clients

Pooled investment vehicles (95% of AUM)

Private funds

4 funds · Hedge funds

Focus by fund count, roster of Oct 1, 2026

$32,805,452,000 gross assets

LEI

HELATY3NJ3Y3YM0BQS70

Private funds on Schedule D 7.B.(1)

As filed Jun 14, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$20,081,042,000 gross assets in 3 funds Hedge funds $20,081,042,000 (3)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Oct 2026	$35,613,522,000	Pooled investment vehicles (95%)
Apr 2025 to Mar 2026	$28,454,381,000	Pooled investment vehicles (98%)
Jul 2024 to Mar 2025	$20,308,069,000	Pooled investment vehicles (100%)
Apr 2024 to Jun 2024	$20,308,069,000	Pooled investment vehicles (100%)
Jun 2023 to Mar 2024	$28,457,389,000	Pooled investment vehicles (100%)
May 2023	$28,457,389,000	Pooled investment vehicles (100%)

5 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Concentrated

The top 10 positions are 76.1% of the book (60%+)

Turnover

Medium turnover

93.9% over the last four quarters (30% to under 100%)

Horizon

Short horizon

Value-weighted holding period 2.5 quarters (under 4)

Closest benchmark: the S&P MidCap 400 as of 2026-06-30, active share 97.4%; sector active share 51.5% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

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Portfolio Concentration

205 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

10.9%

+2.8 pts

Top 5

38.0%

+5.1 pts

Top 10

64.2%

+9.6 pts

HHI

497

Diversified+109

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Communication Services	20.4%	$1,747,004,260	19
Industrials	19.4%	$1,663,640,883	16
Healthcare	18.4%	$1,576,773,393	16
Unclassified	12.6%	$1,080,158,709	14
Consumer Defensive	6.6%	$563,347,372	5
Technology	6.4%	$551,965,291	16
Financial Services	6.0%	$514,928,687	89
Basic Materials	4.2%	$355,910,174	3
Utilities	2.3%	$194,927,358	4
Consumer Cyclical	1.8%	$156,768,750	11
Energy	1.5%	$127,845,016	5
Real Estate	0.3%	$29,307,406	7

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

15 positions

Ticker	Company	Δ Shares	Shares	Value
KVUE	Kenvue Inc.	+7,000,000	28,000,001	$535,080,019
TECK	Teck Resources Ltd	+4,188,029	5,773,121	$343,269,774
WBD	Warner Bros. Discovery, Inc.	+2,604,732	18,965,932	$505,631,747
—		+1,100,000	1,789,092	$0
—		+918,577	5,149,300	$267,506,135
—		+206,081	4,495,095	$149,506,859
PEN	Penumbra Inc	+204,247	1,838,508	$580,508,901
CON	Concentra Group Holdings Parent, Inc.	+181,864	1,044,614	$31,077,266
DLR	Digital Realty Trust, Inc.	+67,264	80,000	$14,366,400
UBER	Uber Technologies, Inc	+62,585	361,434	$26,081,077
LCID	Lucid Group, Inc.	+22,667	33,070	$221,238
SPYM	State Street(R) SPDR(R) Portfolio S&P 500(R) ETF	+17,077	137,616	$12,093,694
NSC	Norfolk Southern Corp	+13,644	1,750,000	$550,532,500
HON	Honeywell International Inc	+12,456	15,004	$3,359,395
SCHW	Schwab Charles Corp	+1,627	11,483	$1,059,536
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
TXNM	Txnm Energy Inc	−2,556,000	484,938	$27,534,779
TRIP	TripAdvisor, Inc.	−1,011,888	1,514,728	$20,766,920
ACHR	Archer Aviation Inc.	−350,000	650,000	$3,074,500
SIRI	Sirius Xm Holdings Inc.	−315,358	848,845	$25,074,881
ETH	Grayscale Ethereum Staking Mini ETF	−158,520	152,621	$2,293,893
TTEK	Tetra Tech Inc	−151,105	87,923	$2,540,095
FETH	Fidelity Ethereum Fund	−146,131	980,008	$15,425,325
CMCSA	Comcast Corp	−129,999	937,002	$23,003,399
CLF	Cleveland-Cliffs Inc.	−128,000	240,000	$2,253,600
CCXI	Churchill Capital Corp XI	−120,000	180,000	$3,141,000
MDLN	Medline Inc.	−100,000	325,000	$12,818,000
—		−80,100	3,190,000	$654,077,600
GME	GameStop Corp.	−52,700	729,665	$16,111,003
DDOG	Datadog, Inc.	−39,400	22,249	$5,792,749
CHTR	Charter Communications, Inc.	−23,613	3,352	$476,687
DHR	Danaher Corp	−21,992	2,178	$414,865
PLTR	Palantir Technologies Inc.	−20,230	1,753	$204,522
CCXIW	Churchill Capital Corp XI	−15,000	15,000	$0
HAL	Halliburton Co	−14,911	20,036	$680,222
VZ	Verizon Communications Inc	−14,795	24,979	$1,057,610
KRSP	Rice Acquisition Corp 3	−14,119	135,000	$1,417,500
BATRK	Atlanta Braves Holdings, Inc.	−12,597	185,872	$9,646,756
NRG	Nrg Energy, Inc.	−7,000	8,000	$1,168,480
CVX	Chevron Corp	−2,945	8,121	$1,346,136
SPY	Spdr S&P 500 ETF Trust	−1,050	2,782	$2,077,514
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
—		2,625,000	$930,641,250
TECH	BIO-TECHNE Corp	6,825,000	$482,186,250
—		2,850,000	$378,280,500
SLAB	Silicon Laboratories Inc.	1,000,000	$218,560,000
ROKU	Roku, Inc	1,184,334	$163,603,898
AES	Aes Corp	11,070,839	$162,298,499
VAL	Valaris Ltd	1,575,143	$114,355,381
DPC	DPC Holdings PLC	1,482,881	$72,750,141
SPCX	Space Exploration Technologies Corp	237,500	$40,579,250
COO	Cooper Companies, Inc.	441,651	$31,670,793
QNT	Quantinuum Inc.	179,462	$14,669,223
ITGR	Integer Holdings Corp	155,186	$14,502,131
VGNT	Versigent PLC	343,706	$14,439,089
VIAV	Viavi Solutions Inc.	200,000	$9,550,000
FLR	Fluor Corp	160,953	$8,432,327
IMAX	Imax Corp	202,160	$8,058,097
KPET	KPET Ultra Paceline Corp	750,006	$7,485,059
PSUS	Pershing Square USA, Ltd.	200,000	$7,476,000
ACAA	Averin Capital Acquisition Corp.	750,006	$7,470,059
GCGR	General Catalyst Global Resilience Merger Corp.	700,004	$7,063,040
FMC	Fmc Corp	595,200	$6,844,800
GOOGN	Alphabet Inc.	133,800	$6,730,140
LFTO	Liftoff Mobile, Inc.	256,250	$6,155,125
INIO	Innio N.V.	152,500	$6,031,375
MTNE	CH4 Natural Solutions Corp	600,000	$5,910,000
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
—		9,800,000	$740,782,000
—		2,576,109	$458,212,508
—		10,568,659	$371,382,677
—		5,527,242	$358,939,095
—		13,875,000	$328,143,750
—		7,305,341	$307,189,589
—		2,278,517	$261,619,322
—		2,950,000	$155,524,000
—		3,550,000	$142,816,500
—		8,783,448	$127,008,658
KTOS	Kratos Defense & Security Solutions, Inc.	200,000	$14,102,000
BTSG	BrightSpring Health Services, Inc.	300,000	$12,783,000
WELL	Welltower Inc.	62,515	$12,359,840
BHF	Brighthouse Financial, Inc.	200,000	$11,976,000
LGN	Legence Corp.	200,000	$11,292,000
TSLA	Tesla, Inc.	21,490	$7,988,907
ACAAU	Averin Capital Acquisition Corp.	750,006	$7,500,060
AMD	Advanced Micro Devices Inc	36,569	$7,439,231
CRWV	CoreWeave, Inc.	93,800	$7,266,686
BA	Boeing Co	32,534	$6,475,242
AAPL	Apple Inc.	24,781	$6,289,169
META	Meta Platforms, Inc.	9,304	$5,323,097
BRK-B	Berkshire Hathaway Inc	10,879	$5,213,216
BABA	Alibaba Group Holding Ltd	40,188	$5,041,986
QCOM	Qualcomm Inc	39,094	$5,034,525
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

205 tracked positions · $8,562,577,299 total · filing declares 276 positions · $10,294,126,645 · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 205 positions by value · page 1 of 5

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
		NEW	2,625,000	NEW	$930,641,250	NEW	1	unpriced	10.87%
		Reduced	3,190,000	-80,100	$654,077,600	−1.9%	3	$201.85	7.64%
PEN	Penumbra Inc Healthcare	Added	1,838,508	+204,247	$580,508,901	+8.2%	2	$336.99	6.78%
NSC	Norfolk Southern Corp Industrials	Added	1,750,000	+13,644	$550,532,500	+10.5%	4	$282.61	6.43%
SPY	Spdr S&P 500 ETF Trust PUT CALL + SHARES	Added	721,782	+480,150	$539,005,144	+243.0%	4	$672.05	6.29%
KVUE	Kenvue Inc. Consumer Defensive	Added	28,000,001	+7,000,000	$535,080,019	+47.8%	3	$17.63	6.25%
WBD	Warner Bros. Discovery, Inc. Communication Services	Added	18,965,932	+2,604,732	$505,631,747	+12.5%	6	$24.49	5.91%
TECH	BIO-TECHNE Corp Healthcare	NEW	6,825,000	NEW	$482,186,250	NEW	1	$54.00	5.63%
		NEW	2,850,000	NEW	$378,280,500	NEW	1	$90.09	4.42%
TECK	Teck Resources Ltd Basic Materials	Added	5,773,121	+4,188,029	$343,269,774	+318.5%	2	$58.91	4.01%
		Added	5,149,300	+918,577	$267,506,135	+23.1%	2	unpriced	3.12%
QQQ	Invesco Qqq Trust, Series 1 PUT CALL	Added	324,400	+35,718	$238,888,160	+43.4%	—	—	2.79%
SLAB	Silicon Laboratories Inc. Technology	NEW	1,000,000	NEW	$218,560,000	NEW	1	$216.27	2.55%
NVDA	Nvidia Corp PUT Technology	Reduced	1,029,400	-2,400,417	$205,972,646	−65.6%	—	—	2.41%
ROKU	Roku, Inc Communication Services	NEW	1,184,334	NEW	$163,603,898	NEW	1	$121.99	1.91%
AES	Aes Corp Utilities	NEW	11,070,839	NEW	$162,298,499	NEW	1	$14.53	1.90%
IWM	iShares Russell 2000 ETF PUT CALL	Reduced	533,900	-146,300	$160,410,255	−4.9%	—	—	1.87%
		Added	4,495,095	+206,081	$149,506,859	−30.7%	4	unpriced	1.75%
VAL	Valaris Ltd Energy	NEW	1,575,143	NEW	$114,355,381	NEW	1	$93.08	1.34%
NBIS	Nebius Group N.V. PUT Communication Services	Reduced	397,200	-56,157	$109,694,724	+133.2%	—	—	1.28%
DPC	DPC Holdings PLC Industrials	NEW	1,482,881	NEW	$72,750,141	NEW	1	unpriced	0.85%
GME	GameStop Corp. PUT CALL + SHARES Consumer Cyclical	Added	2,206,865	+272,100	$48,727,579	+9.3%	5	$23.08	0.57%
SIRI	Sirius Xm Holdings Inc. CALL + SHARES Communication Services	Reduced	1,622,245	-263,558	$47,921,117	+10.1%	3	$21.49	0.56%
TRIP	TripAdvisor, Inc. PUT CALL + SHARES Consumer Cyclical	Reduced	3,107,928	-1,769,288	$42,609,692	−18.0%	7	$12.18	0.50%
SPCX	Space Exploration Technologies Corp Industrials	NEW	237,500	NEW	$40,579,250	NEW	1	unpriced	0.47%
ARKB	Ark 21Shares Bitcoin ETF	Held	1,966,887	0	$38,275,621	−13.5%	10	unpriced	0.45%
VTV	VANGUARD VALUE INDEX FUND PUT	NEW	162,200	NEW	$35,348,246	NEW	—	—	0.41%
COO	Cooper Companies, Inc. Healthcare	NEW	441,651	NEW	$31,670,793	NEW	1	$65.37	0.37%
CON	Concentra Group Holdings Parent, Inc. Healthcare	Added	1,044,614	+181,864	$31,077,266	+67.9%	7	$21.47	0.36%
UBER	Uber Technologies, Inc PUT CALL + SHARES Technology	Reduced	418,234	-73,615	$30,179,765	−14.7%	9	$72.24	0.35%
SOLV	Solventum Corp Healthcare	Held	388,022	0	$29,935,897	+18.1%	8	$65.60	0.35%
NWSA	News Corp Communication Services	Held	1,183,664	0	$29,390,377	−0.4%	13	$23.21	0.34%
TXNM	Txnm Energy Inc Utilities	Reduced	484,938	-2,556,000	$27,534,779	−84.5%	3	$58.25	0.32%
CMCSA	Comcast Corp Communication Services	Reduced	937,002	-129,999	$23,003,399	−24.9%	2	unpriced	0.27%
TSLA	Tesla, Inc. PUT Consumer Cyclical	Reduced	52,800	-76,390	$22,207,680	−53.8%	—	—	0.26%
HWM	Howmet Aerospace Inc. PUT Industrials	Reduced	82,000	-129,700	$22,046,520	−54.8%	—	—	0.26%
IWO	iShares Russell 2000 Growth ETF PUT	Held	50,000	0	$19,698,000	+25.5%	—	—	0.23%
MAT	Mattel Inc Consumer Cyclical	Held	1,300,000	0	$18,044,000	−4.5%	2	$18.22	0.21%
MSTR	Strategy Inc PUT + SHARES Technology	Added	206,927	+190,927	$17,988,164	+800.8%	1	$145.16	0.21%
FETH	Fidelity Ethereum Fund	Reduced	980,008	-146,131	$15,425,325	−34.4%	8	$28.94	0.18%
DAL	Delta Air Lines, Inc. PUT Industrials	Added	156,900	+153,000	$14,695,254	+5567.9%	—	—	0.17%
QNT	Quantinuum Inc. Technology	NEW	179,462	NEW	$14,669,223	NEW	1	unpriced	0.17%
ITGR	Integer Holdings Corp Healthcare	NEW	155,186	NEW	$14,502,131	NEW	1	$88.78	0.17%
VGNT	Versigent PLC Consumer Cyclical	NEW	343,706	NEW	$14,439,089	NEW	1	$39.85	0.17%
DLR	Digital Realty Trust, Inc. Real Estate	Added	80,000	+63,264	$14,366,400	+376.3%	5	$187.63	0.17%
ARM	Arm Holdings PLC PUT Technology	NEW	40,100	NEW	$14,218,257	NEW	—	—	0.17%
XLF	State Street Corp PUT Financial Services	Held	255,300	0	$13,686,633	+8.6%	—	—	0.16%
VEL	Velocity Financial, Inc. PUT Financial Services	Held	737,500	0	$13,614,250	+2.0%	—	—	0.16%
MDLN	Medline Inc. Healthcare	Reduced	325,000	-100,000	$12,818,000	−32.2%	3	unpriced	0.15%
CRWV	CoreWeave, Inc. PUT Technology	Reduced	124,800	-62,800	$12,422,592	−14.5%	—	—	0.15%

Showing the top 50 of 205 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.