Hudson Bay Capital Management LP
Filing Date
Global Rank
#236
/ 8,578
▼ 5
Top Industry
Semiconductors
19.7%
3Y Alpha vs SPY
-1.6%
Period ended 3 months ago
Filed May 13, 2026 · 34d
25 quarters · since Mar 2020
Clone Performance
Jun 2023–Jun 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+71.3%
SPY
+78.1%
Annualised alpha
-1.6%
Max drawdown
−22.2%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
1,002 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
9.3%
−0.8 pts
Top 5
31.9%
+1.0 pts
Top 10
48.2%
+4.2 pts
HHI
304
Diversified+12
Portfolio Trend
25 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Technology | 35.4% | $8,902,744,746 |
| Consumer Cyclical | 15.6% | $3,930,498,277 |
| Financial Services | 12.2% | $3,062,386,069 |
| Communication Services | 9.0% | $2,256,907,331 |
| Healthcare | 8.1% | $2,041,431,495 |
| Unclassified | 5.9% | $1,480,012,335 |
| Industrials | 4.5% | $1,141,233,391 |
| Utilities | 2.9% | $717,721,009 |
| Real Estate | 2.5% | $625,979,250 |
| Consumer Defensive | 2.1% | $538,241,307 |
| Energy | 1.3% | $327,133,511 |
| Basic Materials | 0.5% | $123,576,125 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| WBD | Warner Bros. Discovery, Inc. | +7,541,656 | 7,727,354 | $212,193,140 | |
| OPTU | Optimum Communications, Inc. | +4,292,490 | 10,542,481 | $13,705,225 | |
| NFLX | Netflix Inc | +3,430,009 | 11,030,819 | $1,060,613,246 | |
| AMZN | Amazon Com Inc | +2,336,020 | 8,014,797 | $1,669,241,770 | |
| PLTR | Palantir Technologies Inc. | +2,205,719 | 7,458,219 | $1,090,988,274 | |
| AAPL | Apple Inc. | +2,176,061 | 4,486,515 | $1,138,632,641 | |
| VISN | Vistance Networks, Inc. | +2,046,033 | 4,283,779 | $77,964,777 | |
| SOFI | SoFi Technologies, Inc. | +1,780,000 | 3,644,271 | $57,871,023 | |
| ORCL | Oracle Corp | +1,731,586 | 1,752,463 | $257,804,831 | |
| NVDA | Nvidia Corp | +1,546,667 | 13,405,294 | $2,337,883,273 | |
| KVUE | Kenvue Inc. | +1,305,000 | 4,085,000 | $70,425,400 | |
| KIM | Kimco Realty Corp | +1,147,934 | 1,487,096 | $33,415,047 | |
| TSM | Taiwan Semiconductor Manufacturing Co Ltd | +1,003,226 | 1,386,699 | $468,634,926 | |
| NVRI-WI | Enviri II Corp | +1,000,300 | 2,500,300 | $0 | |
| EA | Electronic Arts Inc. | +988,187 | 1,385,687 | $282,500,008 | |
| INTC | Intel Corp | +984,163 | 3,875,776 | $171,037,994 | |
| CHRS | Coherus Oncology, Inc. | +869,980 | 1,704,980 | $2,881,416 | |
| PECO | Phillips Edison & Company, Inc. | +628,957 | 910,029 | $34,053,284 | |
| CUBE | CubeSmart | +597,912 | 774,412 | $28,382,199 | |
| MRK | Merck & Co., Inc. | +549,705 | 901,505 | $108,442,036 | |
| TERN | Terns Pharmaceuticals, Inc. | +537,144 | 618,178 | $32,590,343 | |
| XPOF | Xponential Fitness, Inc. | +500,000 | 1,250,000 | $7,525,000 | |
| LEGN | Legend Biotech Corp | +451,551 | 1,026,551 | $18,570,307 | |
| SPY | Spdr S&P 500 ETF Trust | +446,561 | 1,284,545 | $835,390,995 | |
| WFC | Wells Fargo & Company/Mn | +413,389 | 657,190 | $52,318,895 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| BP | Bp PLC | −4,348,062 | 151,938 | $7,141,086 | |
| CNC | Centene Corp | −3,250,000 | 500,000 | $16,370,000 | |
| HOOD | Robinhood Markets, Inc. | −2,903,947 | 311,031 | $21,554,447 | |
| NBIS | Nebius Group N.V. | −2,317,701 | 2,300 | $238,648 | |
| WMT | Walmart Inc. | −2,281,066 | 57,806 | $7,184,129 | |
| BMNR | Bitmine Immersion Technologies, Inc. | −2,084,830 | 59,870 | $1,184,228 | |
| YEXT | Yext, Inc. | −2,050,183 | 902,270 | $3,464,716 | |
| VRT | Vertiv Holdings Co | −1,877,462 | 7,142 | $1,789,641 | |
| NTST | NETSTREIT Corp. | −1,711,035 | 2,245,391 | $42,280,711 | |
| CUZ | Cousins Properties Inc | −1,534,414 | 285,133 | $6,435,451 | |
| BA | Boeing Co | −1,390,149 | 364,379 | $72,522,352 | |
| VNO | Vornado Realty Trust | −1,356,654 | 279,636 | $7,267,739 | |
| DBRG | DigitalBridge Group, Inc. | −1,351,531 | 109,991 | $1,696,060 | |
| FLY | Firefly Aerospace Inc. | −1,348,887 | 659,017 | $18,762,213 | |
| JHG | Janus Henderson Group PLC | −1,324,030 | 354,772 | $18,224,637 | |
| GOOGL | Alphabet Inc. | −1,320,273 | 662,673 | $190,558,247 | |
| TSLA | Tesla, Inc. | −1,263,501 | 4,813,015 | $1,789,238,326 | |
| DMAA | Drugs Made In America Acquisition Corp. | −1,252,167 | 297,833 | $3,121,289 | |
| HON | Honeywell International Inc | −1,200,076 | 60,002 | $13,562,252 | |
| ANGX | Angel Studios, Inc. | −1,176,649 | 4,117,817 | $12,559,340 | |
| AMD | Advanced Micro Devices Inc | −1,061,990 | 4,438,010 | $902,824,374 | |
| DAWN | Day One Biopharmaceuticals, Inc. | −1,030,000 | 670,000 | $14,364,800 | |
| NSA | National Storage Affiliates Trust | −972,582 | 182,123 | $6,873,322 | |
| TMUS | T-Mobile US, Inc. | −929,601 | 65,585 | $13,774,816 | |
| BAC | Bank Of America Corp /De/ | −905,948 | 10,741 | $523,623 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| UNH | Unitedhealth Group Inc | 1,400,000 | $378,826,000 | |
| MU | Micron Technology Inc | 1,000,070 | $337,863,648 | |
| GLD | Spdr Gold Trust | 566,690 | $243,841,040 | |
| PEN | Penumbra Inc | 349,038 | $114,613,607 | |
| ITGR | Integer Holdings Corp | 1,000,000 | $88,000,000 | |
| WBS | Webster Financial Corp | 1,199,249 | $83,251,865 | |
| FSLR | First Solar, Inc. | 400,000 | $78,904,000 | |
| BE | Bloom Energy Corp | 579,266 | $78,484,749 | |
| MASI | Masimo Corp | 330,679 | $58,817,873 | |
| RTX | RTX Corp | 298,555 | $57,591,259 | |
| CVX | Chevron Corp | 267,726 | $55,392,509 | |
| POWI | Power Integrations Inc | 1,000,000 | $51,200,000 | |
| VAL | Valaris Ltd | 499,604 | $48,981,176 | |
| WELL | Welltower Inc. | 235,296 | $46,520,372 | |
| KLAC | Kla Corp | 26,600 | $39,166,106 | |
| CSCO | Cisco Systems, Inc. | 503,800 | $39,089,842 | |
| ASTS | AST SpaceMobile, Inc. | 451,030 | $37,376,856 | |
| TXN | Texas Instruments Inc | 178,990 | $34,749,118 | |
| AES | Aes Corp | 1,950,000 | $27,475,500 | |
| SAP | Sap SE | 120,000 | $20,545,200 | |
| CHH | Choice Hotels International Inc /De | 193,155 | $19,991,542 | |
| NEE | Nextera Energy Inc | 214,296 | $19,903,812 | |
| IRM | Iron Mountain Inc | 190,884 | $19,496,891 | |
| FGII | FG Imperii Acquisition Corp. | 1,948,264 | $19,287,813 | |
| SKT | Tanger Inc. | 552,544 | $18,775,445 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| NOW | ServiceNow, Inc. | 930,000 | $142,466,700 | |
| PYPL | PayPal Holdings, Inc. | 2,394,000 | $139,761,720 | |
| EXAS | EXACT SCIENCES CORP | 1,115,996 | $113,340,553 | |
| GS | Goldman Sachs Group Inc | 121,000 | $106,359,000 | |
| CRCL | Circle Internet Group, Inc. | 1,000,000 | $79,300,000 | |
| GTLS | Chart Industries Inc | 311,071 | $64,152,172 | |
| FR | First Industrial Realty Trust Inc | 652,741 | $37,382,477 | |
| MAA | Mid America Apartment Communities Inc. | 253,231 | $35,176,318 | |
| CTRE | CareTrust REIT, Inc. | 952,641 | $34,447,498 | |
| SNY | Sanofi | 680,050 | $32,955,223 | |
| MA | Mastercard Inc | 50,000 | $28,544,000 | |
| COP | Conocophillips | 300,000 | $28,083,000 | |
| KDP | Keurig Dr Pepper Inc. | 1,000,000 | $28,010,000 | |
| PDM | Piedmont Realty Trust, Inc. | 3,247,359 | $27,082,974 | |
| HPE | Hewlett Packard Enterprise Co | 1,000,000 | $24,020,000 | |
| SLG | Sl Green Realty Corp | 507,882 | $23,296,547 | |
| MDLN | Medline Inc. | 550,050 | $23,102,100 | |
| IVT | InvenTrust Properties Corp. | 740,690 | $20,894,864 | |
| HPP | Hudson Pacific Properties, Inc. | 1,918,515 | $20,777,517 | |
| TFC | Truist Financial Corp | 405,978 | $19,978,177 | |
| TEVA | Teva Pharmaceutical Industries Ltd | 570,000 | $17,789,700 | |
| CL | Colgate Palmolive Co | 207,331 | $16,383,295 | |
| NVS | Novartis AG | 114,346 | $15,764,883 | |
| FICO | Fair Isaac Corp | 9,156 | $15,479,316 | |
| REXR | Rexford Industrial Realty, Inc. | 395,377 | $15,308,997 | |
| No positions match the current search. | ||||
44 positions ·
$123,576,125 total
· Basic Materials only
· as of Mar 31, 2026
All sectors
Basic Materials
Communication Services
Consumer Cyclical
Consumer Defensive
Energy
Financial Services
Healthcare
Industrials
Real Estate
Technology
Utilities
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| NB |
Niocorp Developments Ltd
Basic Materials
|
NEW | 12,870 | $57,400 | 0.05% | |
| DC |
Dakota Gold Corp.
Basic Materials
|
NEW | 13,050 | $65,902 | 0.05% | |
| AREC |
American Resources Corp
Basic Materials
|
Added | 60,180 | $145,635 | 0.12% | |
| CTGO |
Contango Silver & Gold Inc.
Basic Materials
|
Reduced | 11,124 | $208,575 | 0.17% | |
| ALTO |
Alto Ingredients, Inc.
Basic Materials
|
Added | 48,898 | $236,666 | 0.19% | |
| CLMT |
Calumet, Inc. /DE
Basic Materials
|
NEW | 8,780 | $315,202 | 0.26% | |
| AMTX |
Aemetis, Inc
Basic Materials
|
NEW | 106,836 | $340,806 | 0.28% | |
| LODE |
Comstock Inc.
Basic Materials
|
Added | 121,731 | $371,279 | 0.30% | |
| CENX |
Century Aluminum Co
Basic Materials
|
NEW | 7,471 | $438,472 | 0.35% | |
| CLW |
Clearwater Paper Corp
Basic Materials
|
NEW | 45,000 | $647,100 | 0.52% | |
| IAUX |
i-80 Gold Corp.
Basic Materials
|
NEW | 454,856 | $691,381 | 0.56% | |
| LWLG |
Lightwave Logic, Inc.
Basic Materials
|
Added | 99,098 | $696,658 | 0.56% | |
| OLN |
OLIN Corp
Basic Materials
|
Reduced | 30,000 | $891,900 | 0.72% | |
| MLM |
Martin Marietta Materials Inc
Basic Materials
|
Reduced | 1,609 | $947,186 | 0.77% | |
| CF |
CF Industries Holdings, Inc.
Basic Materials
|
NEW | 8,000 | $1,038,720 | 0.84% | |
| IE |
Ivanhoe Electric Inc.
Basic Materials
|
NEW | 110,790 | $1,309,537 | 1.06% | |
| CC |
Chemours Co
Basic Materials
|
Reduced | 70,050 | $1,543,201 | 1.25% | |
| B |
Barrick Mining Corp
Basic Materials
|
NEW | 40,589 | $1,655,625 | 1.34% | |
| RYAM |
Rayonier Advanced Materials Inc.
Basic Materials
|
NEW | 156,087 | $1,727,883 | 1.40% | |
| MEOH |
Methanex Corp
Basic Materials
|
NEW | 30,000 | $1,786,200 | 1.45% | |
| HYMC |
Hycroft Mining Holding Corp
Basic Materials
|
Reduced | 53,172 | $1,871,654 | 1.51% | |
| AMRZ |
Amrize Ltd
Basic Materials
|
Reduced | 33,885 | $1,898,237 | 1.54% | |
| DOW |
Dow Inc.
Basic Materials
|
Added | 45,892 | $1,911,401 | 1.55% | |
| HBM |
Hudbay Minerals Inc.
Basic Materials
|
Added | 101,060 | $2,112,154 | 1.71% | |
| ESI |
Element Solutions Inc
Basic Materials
|
Reduced | 71,079 | $2,426,637 | 1.96% | |
| AXTA |
Axalta Coating Systems Ltd.
Basic Materials
|
Reduced | 89,756 | $2,486,241 | 2.01% | |
| ECL |
Ecolab Inc.
Basic Materials
|
Added | 10,122 | $2,692,654 | 2.18% | |
| FCX |
Freeport-Mcmoran Inc
Basic Materials
|
Added | 50,853 | $2,989,138 | 2.42% | |
| IFF |
International Flavors & Fragrances Inc
Basic Materials
|
NEW | 45,370 | $3,291,593 | 2.66% | |
| AA |
Alcoa Corp
Basic Materials
|
Reduced | 50,905 | $3,376,527 | 2.73% | |
| AUGO |
Aura Minerals Inc.
Basic Materials
|
NEW | 42,000 | $3,427,200 | 2.77% | |
| SKE |
Skeena Resources Ltd
Basic Materials
|
Reduced | 116,400 | $3,459,408 | 2.80% | |
| JHX |
James Hardie Industries plc
Basic Materials
|
Added | 196,708 | $3,725,649 | 3.01% | |
| SLVM |
Sylvamo Corp
Basic Materials
|
Added | 101,162 | $4,273,082 | 3.46% | |
| EXP |
Eagle Materials Inc
Basic Materials
|
Added | 25,458 | $4,823,018 | 3.90% | |
| VMC |
Vulcan Materials CO
Basic Materials
|
Added | 18,448 | $5,023,390 | 4.07% | |
| NTR |
Nutrien Ltd.
Basic Materials
|
Added | 75,759 | $5,716,774 | 4.63% | |
| NG |
Novagold Resources Inc
Basic Materials
|
NEW | 640,500 | $5,751,690 | 4.65% | |
| LIN |
Linde PLC
Basic Materials
|
Reduced | 12,191 | $6,043,810 | 4.89% | |
| BCC |
BOISE CASCADE Co
Basic Materials
|
Reduced | 81,211 | $6,159,854 | 4.98% | |
| STLD |
Steel Dynamics Inc
Basic Materials
|
Added | 35,372 | $6,366,960 | 5.15% | |
| RPM |
Rpm International Inc/De/
Basic Materials
|
Added | 65,763 | $6,536,842 | 5.29% | |
| CSTM |
Constellium SE
Basic Materials
|
Held | 401,989 | $9,880,889 | 8.00% | |
| CRH |
Crh Public Ltd Co
Basic Materials
|
Added | 116,210 | $12,215,995 | 9.89% |