HBK INVESTMENTS L P

CIK

1011443

Location

DALLAS, TX

Portfolio Value

Mid $8,716,937,475

Diversification

Diversified

Filing Date

Global Rank

#465 / 8,622 ▲ 42 · as of Mar 2026

Top Industry

Medical Devices 12.0%

3Y Alpha vs SPY

-4.1%

Period ended 4 months ago

Filed May 15, 2026 · 2mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Not a measure of this manager's performance. Most of HBK INVESTMENTS L P's reported book is option positions, which a stock-only clone cannot replicate. The figures below are the return of the 23% that is ordinary stock — as little as 2% in one quarter — so a manager whose options thesis lost money can still show a large gain here.

Cloned portfolio

+51.2%

SPY

+67.9%

Annualised alpha

-4.1%

Max drawdown

−22.9%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 23% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

186 tracked positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

8.5%

−5.6 pts

Top 5

34.9%

−16.0 pts

Top 10

57.8%

−15.6 pts

HHI

424

Diversified−254

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Healthcare	28.9%	$2,521,082,376	16
Communication Services	15.5%	$1,349,450,905	16
Industrials	13.1%	$1,140,990,744	20
Technology	12.7%	$1,108,015,736	18
Consumer Cyclical	6.0%	$519,881,645	19
Financial Services	5.3%	$461,779,381	57
Unclassified	5.3%	$460,396,154	10
Consumer Defensive	4.7%	$405,376,321	4
Energy	4.5%	$392,797,842	5
Utilities	2.2%	$191,972,702	4
Basic Materials	1.1%	$92,566,597	4
Real Estate	0.8%	$72,627,072	13

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

21 positions

Ticker	Company	Δ Shares	Shares	Value
KVUE	Kenvue Inc.	+18,465,000	21,000,001	$362,040,017
CWAN	Clearwater Analytics Holdings, Inc.	+13,501,697	13,875,000	$328,143,750
WBD	Warner Bros. Discovery, Inc.	+5,498,330	16,361,200	$449,278,552
TRIP	TripAdvisor, Inc.	+3,811,056	4,877,216	$51,991,122
HOLX	HOLOGIC INC	+1,400,000	9,800,000	$740,782,000
EA	Electronic Arts Inc.	+1,360,118	3,270,100	$666,675,287
TXNM	Txnm Energy Inc	+1,343,694	3,040,938	$177,773,235
AL	SUMISHO AIR LEASE CORP	+924,982	5,527,242	$358,939,095
TSLX	Sixth Street Specialty Lending, Inc.	+316,200	326,400	$5,999,232
TTEK	Tetra Tech Inc	+233,828	374,028	$11,265,723
MDLN	Medline Inc.	+190,000	425,000	$18,912,500
DJT	Trump Media & Technology Group Corp.	+168,703	229,303	$2,127,931
AGNC	AGNC Investment Corp.	+129,829	1,929,829	$19,356,184
UBER	Uber Technologies, Inc	+87,095	491,849	$35,378,698
NEE	Nextera Energy Inc	+82,951	107,951	$10,026,488
BAC	Bank Of America Corp /De/	+71,769	238,569	$11,630,238
GRAB	Grab Holdings Ltd	+30,000	450,000	$1,647,000
FRPT	Freshpet, Inc.	+21,000	29,000	$1,709,840
DDOG	Datadog, Inc.	+20,249	83,149	$9,815,739
TSLA	Tesla, Inc.	+16,890	129,190	$48,026,382
PLD	Prologis, Inc.	+13,239	63,239	$8,358,931
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
FOLD	AMICUS THERAPEUTICS, INC.	−6,466,552	8,783,448	$127,008,658
NVDA	Nvidia Corp	−2,509,683	3,429,817	$598,160,084
IBIT	iShares Bitcoin Trust ETF	−1,996,100	1,480,500	$56,880,810
BHF	Brighthouse Financial, Inc.	−1,900,000	200,000	$11,976,000
GTLS	Chart Industries Inc	−1,280,000	689,092	$142,469,771
SPY	Spdr S&P 500 ETF Trust	−1,022,205	241,632	$157,142,954
NIO	NIO Inc.	−727,648	225,500	$1,359,765
NSC	Norfolk Southern Corp	−393,644	1,736,356	$498,334,172
CNK	Cinemark Holdings, Inc.	−366,000	757,000	$21,589,640
LION	Lionsgate Studios Corp.	−342,330	242,329	$2,323,935
TSM	Taiwan Semiconductor Manufacturing Co Ltd	−310,200	28,700	$9,699,165
PTON	Peloton Interactive, Inc.	−306,900	502,500	$2,155,725
QQQ	Invesco Qqq Trust, Series 1	−290,818	288,682	$166,621,476
LGN	Legence Corp.	−250,000	200,000	$11,292,000
ACHR	Archer Aviation Inc.	−250,000	1,000,000	$5,170,000
BOX	Box Inc	−209,916	121,850	$2,880,534
CAEP	Cantor Equity Partners III, Inc.	−200,000	100,000	$1,031,000
ALHC	Alignment Healthcare, Inc.	−192,800	32,600	$574,412
MSTR	Strategy Inc	−157,564	16,000	$1,996,800
ARCC	Ares Capital Corp	−133,600	566,400	$10,206,528
RIVN	Rivian Automotive, Inc. / DE	−131,000	131,000	$1,971,550
MFIC	MidCap Financial Investment Corp	−105,500	100,000	$1,124,000
NBIS	Nebius Group N.V.	−103,443	453,357	$47,040,322
PFLT	PennantPark Floating Rate Capital Ltd.	−100,000	192,700	$1,549,308
GME	GameStop Corp.	−87,388	1,934,765	$44,576,985
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
PEN	Penumbra Inc	1,634,261	$536,642,284
MASI	Masimo Corp	2,576,109	$458,212,507
CTRA	Coterra Energy Inc.	10,568,659	$371,382,677
SEE	SEALED AIR CORP/DE	7,305,341	$307,189,589
ACLX	Arcellx, Inc.	2,278,517	$261,619,321
JHG	Janus Henderson Group Ltd.	4,230,723	$217,332,240
TERN	Terns Pharmaceuticals, Inc.	2,950,000	$155,524,000
APLS	Apellis Pharmaceuticals, Inc.	3,550,000	$142,816,500
TECK	Teck Resources Ltd	1,585,092	$82,028,511
HWM	Howmet Aerospace Inc.	211,700	$48,788,382
CMCSA	Comcast Corp	1,067,001	$30,633,598
COST	Costco Wholesale Corp /New	28,430	$28,328,504
BA	Boeing Co	126,234	$25,124,353
AMD	Advanced Micro Devices Inc	123,369	$25,096,955
AAPL	Apple Inc.	98,581	$25,018,871
BRK-B	Berkshire Hathaway Inc	44,079	$21,122,656
QCOM	Qualcomm Inc/De	148,894	$19,174,569
META	Meta Platforms, Inc.	33,304	$19,054,217
MAT	Mattel Inc /De/	1,300,000	$18,889,000
BABA	Alibaba Group Holding Ltd	127,188	$15,957,006
DHR	Danaher Corp /De/	83,170	$15,769,032
KTOS	Kratos Defense & Security Solutions, Inc.	200,000	$14,102,000
WELL	Welltower Inc.	69,515	$13,743,810
VEL	Velocity Financial, Inc.	737,500	$13,341,375
WMT	Walmart Inc.	107,000	$13,297,960
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
EXAS	EXACT SCIENCES CORP	7,646,637	$776,592,453
GLD	Spdr Gold Trust	488,900	$193,755,959
SNDK	Sandisk Corp	234,697	$55,712,373
GS	Goldman Sachs Group Inc	50,800	$44,653,200
LTM	Latam Airlines Group S.A.	625,000	$33,756,250
OMF	OneMain Holdings, Inc.	453,800	$30,654,190
TFX	Teleflex Inc	192,372	$23,477,078
ETHW	Bitwise Ethereum ETF	833,682	$17,732,416
PSKY	Paramount Skydance Corp	1,000,100	$13,401,340
BUD	Anheuser-Busch InBev SA/NV	185,796	$11,898,375
HIMS	Hims & Hers Health, Inc.	342,888	$11,133,573
CVLT	Commvault Systems Inc	87,800	$11,006,608
TCOM	Trip.com Group Ltd	123,600	$8,888,076
ECHO	EchoStar CORP	75,800	$8,239,460
SLV	iShares Silver Trust	101,800	$6,557,956
OPEN	Opendoor Technologies Inc.	1,015,000	$5,917,450
CC	Chemours Co	439,051	$5,176,411
WDC	Western Digital Corp	28,747	$4,952,245
CHKP	Check Point Software Technologies Ltd	20,680	$3,837,380
IMSR	Terrestrial Energy Inc. /DE/	550,000	$3,360,500
CTEV	Claritev Corp	75,000	$3,206,250
HUN	Huntsman CORP	300,000	$3,000,000
CMPR	CIMPRESS plc	41,000	$2,730,190
PENN	PENN Entertainment, Inc.	171,467	$2,529,138
ASTS	AST SpaceMobile, Inc.	32,046	$2,327,500
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

186 tracked positions · $8,716,937,475 total · filing declares 346 positions · $9,854,373,209 · as of Mar 31, 2026

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

Showing 1–50 of 186 positions by value · page 1 of 4

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
HOLX	HOLOGIC INC Healthcare	Added	9,800,000	+1,400,000	$740,782,000	+18.4%	8.50%
EA	Electronic Arts Inc. Communication Services	Added	3,270,100	+1,360,118	$666,675,287	+70.8%	7.65%
NVDA	Nvidia Corp PUT + SHARES Technology	Reduced	3,429,817	-2,509,683	$598,160,084	−46.0%	6.86%
PEN	Penumbra Inc Healthcare	NEW	1,634,261	NEW	$536,642,284	NEW	6.16%
NSC	Norfolk Southern Corp Industrials	Reduced	1,736,356	-393,644	$498,334,172	−19.0%	5.72%
MASI	Masimo Corp Healthcare	NEW	2,576,109	NEW	$458,212,507	NEW	5.26%
WBD	Warner Bros. Discovery, Inc. Communication Services	Added	16,361,200	+5,498,330	$449,278,552	+43.5%	5.15%
CTRA	Coterra Energy Inc. Energy	NEW	10,568,659	NEW	$371,382,677	NEW	4.26%
KVUE	Kenvue Inc. Consumer Defensive	Added	21,000,001	+18,465,000	$362,040,017	+727.9%	4.15%
AL	SUMISHO AIR LEASE CORP Industrials	Added	5,527,242	+924,982	$358,939,095	+21.4%	4.12%
CWAN	Clearwater Analytics Holdings, Inc. Technology	Added	13,875,000	+13,501,697	$328,143,750	+3544.4%	3.76%
SEE	SEALED AIR CORP/DE Consumer Cyclical	NEW	7,305,341	NEW	$307,189,589	NEW	3.52%
ACLX	Arcellx, Inc. Healthcare	NEW	2,278,517	NEW	$261,619,321	NEW	3.00%
JHG	Janus Henderson Group Ltd. Financial Services	NEW	4,230,723	NEW	$217,332,240	NEW	2.49%
TXNM	Txnm Energy Inc Utilities	Added	3,040,938	+1,343,694	$177,773,235	+77.9%	2.04%
QQQ	Invesco Qqq Trust, Series 1 PUT CALL + SHARES	Reduced	288,682	-290,818	$166,621,476	−53.2%	1.91%
SPY	Spdr S&P 500 ETF Trust PUT + SHARES	Reduced	241,632	-1,022,205	$157,142,954	−81.8%	1.80%
TERN	Terns Pharmaceuticals, Inc. Healthcare	NEW	2,950,000	NEW	$155,524,000	NEW	1.78%
APLS	Apellis Pharmaceuticals, Inc. Healthcare	NEW	3,550,000	NEW	$142,816,500	NEW	1.64%
GTLS	Chart Industries Inc Industrials	Reduced	689,092	-1,280,000	$142,469,771	−64.9%	1.63%
FOLD	AMICUS THERAPEUTICS, INC. Healthcare	Reduced	8,783,448	-6,466,552	$127,008,658	−41.5%	1.46%
TECK	Teck Resources Ltd Basic Materials	NEW	1,585,092	NEW	$82,028,511	NEW	0.94%
IBIT	iShares Bitcoin Trust ETF PUT	Reduced	1,480,500	-1,996,100	$56,880,810	−67.0%	0.65%
TRIP	TripAdvisor, Inc. PUT + SHARES Consumer Cyclical	Added	4,877,216	+3,811,056	$51,991,122	+234.9%	0.60%
HWM	Howmet Aerospace Inc. PUT Industrials	NEW	211,700	NEW	$48,788,382	NEW	0.56%
TSLA	Tesla, Inc. PUT + SHARES Consumer Cyclical	Added	129,190	+16,890	$48,026,382	−4.9%	0.55%
NBIS	Nebius Group N.V. PUT + SHARES Communication Services	Reduced	453,357	-103,443	$47,040,322	+0.9%	0.54%
GME	GameStop Corp. PUT CALL + SHARES Consumer Cyclical	Reduced	1,934,765	-87,388	$44,576,985	+9.8%	0.51%
ARKB	Ark 21Shares Bitcoin ETF	Held	1,966,887	0	$44,235,288	−22.6%	0.51%
SIRI	Sirius Xm Holdings Inc. CALL + SHARES Communication Services	Reduced	1,885,803	-84,301	$43,524,333	+10.5%	0.50%
UBER	Uber Technologies, Inc PUT CALL + SHARES Technology	Added	491,849	+87,095	$35,378,698	+7.0%	0.41%
CMCSA	Comcast Corp Communication Services	NEW	1,067,001	NEW	$30,633,598	NEW	0.35%
NWSA	News Corp Communication Services	Held	1,183,664	0	$29,508,743	−4.6%	0.34%
COST	Costco Wholesale Corp /New PUT + SHARES Consumer Defensive	NEW	28,430	NEW	$28,328,504	NEW	0.32%
SOLV	Solventum Corp Healthcare	Held	388,022	0	$25,337,836	−17.6%	0.29%
BA	Boeing Co PUT + SHARES Industrials	NEW	126,234	NEW	$25,124,353	NEW	0.29%
AMD	Advanced Micro Devices Inc PUT + SHARES Technology	NEW	123,369	NEW	$25,096,955	NEW	0.29%
AAPL	Apple Inc. PUT + SHARES Technology	NEW	98,581	NEW	$25,018,871	NEW	0.29%
FETH	Fidelity Ethereum Fund	Held	1,126,139	0	$23,513,782	−29.5%	0.27%
CNK	Cinemark Holdings, Inc. PUT CALL Communication Services	Reduced	757,000	-366,000	$21,589,640	−17.3%	0.25%
BRK-B	Berkshire Hathaway Inc PUT + SHARES Financial Services	NEW	44,079	NEW	$21,122,656	NEW	0.24%
AGNC	AGNC Investment Corp. PUT CALL + SHARES Real Estate	Added	1,929,829	+129,829	$19,356,184	+0.3%	0.22%
QCOM	Qualcomm Inc/De PUT + SHARES Technology	NEW	148,894	NEW	$19,174,569	NEW	0.22%
META	Meta Platforms, Inc. PUT + SHARES Communication Services	NEW	33,304	NEW	$19,054,217	NEW	0.22%
MDLN	Medline Inc. Healthcare	Added	425,000	+190,000	$18,912,500	+91.6%	0.22%
MAT	Mattel Inc /De/ Consumer Cyclical	NEW	1,300,000	NEW	$18,889,000	NEW	0.22%
CON	Concentra Group Holdings Parent, Inc. Healthcare	Held	862,750	0	$18,505,987	+9.0%	0.21%
CHTR	Charter Communications, Inc. /Mo/ PUT + SHARES Communication Services	Reduced	76,465	-5,725	$16,507,264	−3.8%	0.19%
BABA	Alibaba Group Holding Ltd PUT + SHARES Consumer Cyclical	NEW	127,188	NEW	$15,957,006	NEW	0.18%
DHR	Danaher Corp /De/ PUT + SHARES Healthcare	NEW	83,170	NEW	$15,769,032	NEW	0.18%

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.