Hudson Bay Capital Management LP
Filing Date
Global Rank
#244
/ 7,976
▼ 22
Top Industry
Semiconductors
17.5%
3Y Alpha vs SPY
-2.2%
Period ended 9 months ago
Filed Dec 15, 2025 · 6mo
23 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
+67.1%
SPY
+76.3%
Annualised alpha
-2.2%
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
780 positions · as of Sep 30, 2025 · Δ vs Jun 30, 2025Top Position
11.3%
+1.6 pts
Top 5
36.2%
+0.7 pts
Top 10
48.8%
−1.9 pts
HHI
357
Diversified+13
Portfolio Trend
23 quarters · across all stocks
Sector Breakdown
As of Sep 30, 2025| Sector | % Portfolio | Value |
|---|---|---|
| Technology | 28.4% | $6,770,947,639 |
| Consumer Cyclical | 21.7% | $5,160,589,819 |
| Financial Services | 12.3% | $2,930,870,307 |
| Unclassified | 9.6% | $2,291,662,138 |
| Healthcare | 6.4% | $1,521,045,882 |
| Industrials | 4.6% | $1,105,943,607 |
| Real Estate | 4.5% | $1,067,141,796 |
| Communication Services | 3.8% | $913,079,183 |
| Consumer Defensive | 3.6% | $865,632,635 |
| Energy | 2.3% | $542,848,781 |
| Utilities | 2.0% | $486,078,968 |
| Basic Materials | 0.7% | $159,901,247 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| IBIT | iShares Bitcoin Trust ETF | +4,549,157 | 9,106,378 | $591,914,570 | |
| SLB | Slb Limited/Nv | +3,660,865 | 4,007,420 | $137,735,025 | |
| AAPL | Apple Inc. | +3,114,819 | 3,740,591 | $952,466,686 | |
| HTZ | Hertz Global Holdings, Inc | +2,750,004 | 4,000,004 | $27,200,027 | |
| AMZN | Amazon Com Inc | +2,637,310 | 8,921,145 | $1,958,815,806 | |
| VISN | Vistance Networks, Inc. | +1,428,389 | 2,428,389 | $37,591,461 | |
| IPCX | Inflection Point Acquisition Corp. III | +1,360,042 | 1,833,042 | $18,458,732 | |
| TSM | Taiwan Semiconductor Manufacturing Co Ltd | +1,283,110 | 1,343,431 | $375,206,843 | |
| CART | Maplebear Inc. | +1,100,213 | 1,976,062 | $72,640,038 | |
| CTRE | CareTrust REIT, Inc. | +1,072,594 | 1,710,528 | $59,321,111 | |
| NTST | NETSTREIT Corp. | +986,842 | 3,794,639 | $68,531,180 | |
| BEAG | Bold Eagle Acquisition Corp. | +880,000 | 1,020,311 | $10,611,234 | |
| EA | Electronic Arts Inc. | +813,235 | 847,449 | $170,930,463 | |
| TMUS | T-Mobile US, Inc. | +800,394 | 866,612 | $207,449,580 | |
| CSCO | Cisco Systems, Inc. | +779,306 | 1,151,372 | $78,776,872 | |
| KIM | Kimco Realty Corp | +748,956 | 1,892,903 | $41,359,930 | |
| WRD | WeRide Inc. | +717,516 | 1,544,602 | $15,291,559 | |
| XOM | Exxon Mobil Corp | +716,777 | 861,986 | $97,188,920 | |
| CUZ | Cousins Properties Inc | +555,696 | 3,315,646 | $95,954,795 | |
| LRMR | Larimar Therapeutics, Inc. | +551,888 | 1,278,649 | $4,130,036 | |
| KDP | Keurig Dr Pepper Inc. | +551,685 | 1,114,713 | $28,436,328 | |
| BTU | Peabody Energy Corp | +546,018 | 2,422,266 | $64,238,493 | |
| PRA | Proassurance Corp | +525,000 | 575,000 | $13,794,250 | |
| SATS | EchoStar CORP | +504,725 | 744,525 | $56,851,928 | |
| SLG | Sl Green Realty Corp | +497,040 | 1,460,373 | $87,344,908 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| QQQ | Invesco Qqq Trust, Series 1 | −2,828,816 | 876,540 | $526,248,319 | |
| AMD | Advanced Micro Devices Inc | −2,660,975 | 3,851,156 | $623,078,529 | |
| PYPL | PayPal Holdings, Inc. | −2,248,999 | 11,980 | $803,378 | |
| UBER | Uber Technologies, Inc | −2,223,659 | 57,384 | $5,621,910 | |
| WFC | Wells Fargo & Company/Mn | −1,942,488 | 131,286 | $11,004,392 | |
| ACHR | Archer Aviation Inc. | −1,902,843 | 1,948,333 | $18,665,030 | |
| INTC | Intel Corp | −1,651,235 | 398,018 | $13,353,503 | |
| BAC | Bank Of America Corp /De/ | −1,614,196 | 750,981 | $38,743,109 | |
| TSLA | Tesla, Inc. | −1,563,056 | 4,420,575 | $1,965,918,113 | |
| OHI | Omega Healthcare Investors Inc | −1,350,939 | 594,808 | $25,112,793 | |
| PLTR | Palantir Technologies Inc. | −1,154,823 | 1,030,382 | $187,962,284 | |
| FCPT | Four Corners Property Trust, Inc. | −1,092,072 | 351,092 | $8,566,644 | |
| GOOGL | Alphabet Inc. | −1,042,449 | 532,101 | $129,353,753 | |
| BRK-B | Berkshire Hathaway Inc | −930,190 | 1,307,415 | $657,289,817 | |
| TVA | Texas Ventures Acquisition III Corp | −917,224 | 482,776 | $5,170,530 | |
| NVDA | Nvidia Corp | −897,847 | 14,392,655 | $2,685,381,569 | |
| CMG | Chipotle Mexican Grill Inc | −760,341 | 1,563,206 | $61,262,043 | |
| CURB | Curbline Properties Corp. | −755,539 | 89,196 | $1,989,070 | |
| NEM | NEWMONT Corp /DE/ | −746,794 | 559,152 | $47,142,105 | |
| OPTU | Optimum Communications, Inc. | −700,000 | 6,749,991 | $16,267,478 | |
| MLCO | Melco Resorts & Entertainment LTD | −624,906 | 848,596 | $7,781,625 | |
| PCG | PG&E Corp | −603,957 | 802,604 | $12,103,267 | |
| MSTR | Strategy Inc | −568,647 | 1,788,211 | $576,179,466 | |
| LKFT | Lakefront Biotherapeutics NV | −553,400 | 245,000 | $8,486,800 | |
| PG | PROCTER & GAMBLE Co | −553,340 | 6,818 | $1,047,585 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| WDAY | Workday, Inc. | 1,011,648 | $243,534,023 | |
| SOFI | SoFi Technologies, Inc. | 2,616,890 | $69,138,233 | |
| HPE | Hewlett Packard Enterprise Co | 2,292,499 | $56,303,775 | |
| FLY | Firefly Aerospace Inc. | 1,811,811 | $53,122,298 | |
| ETHA | iShares Ethereum Trust ETF | 1,500,000 | $47,265,000 | |
| BNL | Broadstone Net Lease, Inc. | 2,126,373 | $37,998,285 | |
| NVO | Novo Nordisk A S | 680,806 | $37,777,924 | |
| NSA | National Storage Affiliates Trust | 1,094,696 | $33,081,713 | |
| BABA | Alibaba Group Holding Ltd | 166,675 | $29,789,821 | |
| NEOG | Neogen Corp | 5,000,000 | $28,550,000 | |
| NNN | Nnn REIT, Inc. | 600,985 | $25,583,931 | |
| YUM | Yum Brands Inc | 163,069 | $24,786,488 | |
| IVT | InvenTrust Properties Corp. | 823,924 | $23,580,704 | |
| EQR | Equity Residential | 349,010 | $22,591,417 | |
| SRRK | Scholar Rock Holding Corp | 560,800 | $20,884,192 | |
| ETHE | Grayscale Ethereum Staking ETF | 594,306 | $20,366,866 | |
| FR | First Industrial Realty Trust Inc | 391,911 | $20,171,659 | |
| CCI | Crown Castle Inc. | 202,132 | $19,503,716 | |
| WAT | Waters Corp /De/ | 65,004 | $19,488,849 | |
| TASK | TaskUs, Inc. | 996,979 | $17,796,075 | |
| CTLP | Cantaloupe, Inc. | 1,554,659 | $16,432,744 | |
| ASND | Ascendis Pharma A/S | 78,934 | $15,692,868 | |
| CNM | Core & Main, Inc. | 268,267 | $14,440,811 | |
| LNC | Lincoln National Corp | 355,911 | $14,353,890 | |
| BFH | Bread Financial Holdings, Inc. | 252,642 | $14,089,844 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| TGT | Target Corp | 3,001,363 | $296,084,459 | |
| ARM | Arm Holdings PLC /Uk | 1,650,000 | $266,871,000 | |
| PATH | UiPath, Inc. | 8,012,400 | $102,558,720 | |
| DDOG | Datadog, Inc. | 428,370 | $57,542,942 | |
| ALLY | Ally Financial Inc. | 1,132,259 | $44,101,488 | |
| TXN | Texas Instruments Inc | 191,269 | $39,711,269 | |
| UE | Urban Edge Properties | 1,949,069 | $36,369,626 | |
| INVH | Invitation Homes Inc. | 984,893 | $32,304,489 | |
| AMGN | Amgen Inc | 109,761 | $30,646,368 | |
| WY | Weyerhaeuser Co | 1,165,539 | $29,942,696 | |
| AMKR | Amkor Technology, Inc. | 1,320,539 | $27,718,113 | |
| STAG | STAG Industrial, Inc. | 747,958 | $27,135,916 | |
| ETSY | Etsy Inc | 501,404 | $25,150,424 | |
| DJT | Trump Media & Technology Group Corp. | 1,360,808 | $24,548,976 | |
| HIMS | Hims & Hers Health, Inc. | 450,000 | $22,432,500 | |
| CCJ | Cameco Corp | 300,000 | $22,269,000 | |
| USO | United States Oil Fund, LP | 300,000 | $21,933,000 | |
| TRNO | Terreno Realty Corp | 390,919 | $21,918,828 | |
| MA | Mastercard Inc | 36,976 | $20,778,293 | |
| LEVI | Levi Strauss & Co | 1,000,000 | $18,490,000 | |
| SMA | SmartStop Self Storage REIT, Inc. | 502,406 | $18,202,169 | |
| ANF | Abercrombie & Fitch Co /De/ | 200,000 | $16,570,000 | |
| BBWI | Bath & Body Works, Inc. | 509,119 | $15,253,205 | |
| MGM | MGM Resorts International | 437,911 | $15,059,759 | |
| AFRM | Affirm Holdings, Inc. | 200,000 | $13,828,000 | |
| No positions match the current search. | ||||
35 positions ·
$159,901,247 total
· Basic Materials only
· as of Sep 30, 2025
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 |
|---|---|---|---|---|---|---|
| NEM |
NEWMONT Corp /DE/
Basic Materials
|
Reduced | 559,152 | $47,142,105 | 29.48% | |
| FCX |
Freeport-Mcmoran Inc
Basic Materials
|
Added | 299,545 | $11,748,154 | 7.35% | |
| JHX |
James Hardie Industries plc
Basic Materials
|
NEW | 534,264 | $10,263,211 | 6.42% | |
| BCC |
BOISE CASCADE Co
Basic Materials
|
Added | 130,529 | $10,092,502 | 6.31% | |
| VMC |
Vulcan Materials CO
Basic Materials
|
Reduced | 31,367 | $9,649,116 | 6.03% | |
| ECL |
Ecolab Inc.
Basic Materials
|
Reduced | 26,348 | $7,215,663 | 4.51% | |
| NTR |
Nutrien Ltd.
Basic Materials
|
Added | 116,312 | $6,828,677 | 4.27% | |
| EXP |
Eagle Materials Inc
Basic Materials
|
Added | 25,641 | $5,975,377 | 3.74% | |
| RS |
Reliance, Inc.
Basic Materials
|
NEW | 18,144 | $5,095,379 | 3.19% | |
| CSTM |
Constellium SE
Basic Materials
|
Reduced | 307,487 | $4,575,406 | 2.86% | |
| OLN |
OLIN Corp
Basic Materials
|
NEW | 166,701 | $4,165,857 | 2.61% | |
| CE |
Celanese Corp
Basic Materials
|
Reduced | 95,894 | $4,035,219 | 2.52% | |
| MLM |
Martin Marietta Materials Inc
Basic Materials
|
NEW | 5,785 | $3,646,169 | 2.28% | |
| ORGN |
Origin Materials, Inc.
Basic Materials
|
Held | 231,328 | $3,601,776 | 2.25% | |
| AMRZ |
Amrize Ltd
Basic Materials
|
Reduced | 69,944 | $3,394,382 | 2.12% | |
| AA |
Alcoa Corp
Basic Materials
|
Reduced | 86,165 | $2,833,966 | 1.77% | |
| RPM |
Rpm International Inc/De/
Basic Materials
|
Reduced | 20,591 | $2,427,266 | 1.52% | |
| CC |
Chemours Co
Basic Materials
|
NEW | 121,537 | $1,925,146 | 1.20% | |
| CLW |
Clearwater Paper Corp
Basic Materials
|
Added | 85,929 | $1,783,886 | 1.12% | |
| DOW |
Dow Inc.
Basic Materials
|
NEW | 72,000 | $1,650,959 | 1.03% | |
| STLD |
Steel Dynamics Inc
Basic Materials
|
Reduced | 10,089 | $1,406,709 | 0.88% | |
| HUN |
Huntsman CORP
Basic Materials
|
NEW | 150,000 | $1,347,000 | 0.84% | |
| RYAM |
Rayonier Advanced Materials Inc.
Basic Materials
|
NEW | 175,489 | $1,267,030 | 0.79% | |
| CRH |
Crh Public Ltd Co
Basic Materials
|
Reduced | 10,000 | $1,199,000 | 0.75% | |
| SKE |
Skeena Resources Ltd
Basic Materials
|
Reduced | 60,295 | $1,111,236 | 0.69% | |
| WFG |
West Fraser Timber Co., Ltd
Basic Materials
|
NEW | 14,000 | $951,720 | 0.60% | |
| METC |
Ramaco Resources, Inc.
Basic Materials
|
NEW | 25,141 | $834,429 | 0.52% | |
| LIN |
Linde PLC
Basic Materials
|
Reduced | 1,718 | $816,050 | 0.51% | |
| B |
Barrick Mining Corp
Basic Materials
|
NEW | 23,899 | $783,170 | 0.49% | |
| CMP |
Compass Minerals International Inc
Basic Materials
|
Reduced | 31,898 | $612,441 | 0.38% | |
| MP |
MP Materials Corp. / DE
Basic Materials
|
NEW | 8,179 | $548,565 | 0.34% | |
| IAG |
Iamgold Corp
Basic Materials
|
Reduced | 40,189 | $519,643 | 0.32% | |
| WLK |
Westlake Corp
Basic Materials
|
NEW | 3,496 | $269,401 | 0.17% | |
| LAC |
Lithium Americas Corp.
Basic Materials
|
NEW | 25,000 | $142,750 | 0.09% | |
| USAS |
Americas Gold & Silver Corp
Basic Materials
|
NEW | 11,260 | $41,887 | 0.03% |