Returns–Not enough quarters yet
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| Topbuild CorCUSIP 89055F103 | $930.6M | 12.0% | New |
| Electronic Arts IncCUSIP 285512109 | $654.1M | 8.4% | −2.4% |
| PENPenumbra Inc | $580.5M | 7.5% | +12.5% |
| NSCNorfolk Southn Corp | $550.5M | 7.1% | |
| KVUEKenvue Inc | $535.1M | 6.9% | +33.3% |
| Warner Bros Discovery IncCUSIP 934423104 | $505.6M | 6.5% | +15.9% |
| TECHBio-techne Corp | $482.2M | 6.2% | New |
| Nuvalent IncCUSIP 670703107 | $430.2M | 5.5% | New |
| Apogee Therapeutics IncCUSIP 03770N101 | $378.3M | 4.9% | New |
| Chart Inds IncCUSIP 16115Q308 | $373.8M | 4.8% | +159.6% |
| TECKTeck Resources Ltd | $343.3M | 4.4% | +264.2% |
| Janus Henderson Group PLCCUSIP G4474Y214 | $267.8M | 3.4% | +21.7% |
| SLABSilicon Laboratories Inc | $218.6M | 2.8% | New |
| ROKURoku Inc | $163.6M | 2.1% | New |
| AESAes Corp | $162.3M | 2.1% | New |
| Liberty Broadband CorpCUSIP 530307305 | $149.5M | 1.9% | +4.8% |
| Valaris LtdCUSIP G9460G101 | $114.4M | 1.5% | New |
| Catalyst Pharmaceuticals IncCUSIP 14888U101 | $88.6M | 1.1% | New |
| Hewlett Packard Enterprise CCUSIP 42824C208 | $41.0M | 0.5% | +16.7% |
| SPCXSpace Exploration Techn Corp | $40.6M | 0.5% | New |
| ARKBArk 21shares Bitcoin Etf | $38.3M | 0.5% | |
| COOCooper Cos Inc | $31.7M | 0.4% | New |
| CONConcentra Group Holdings Par | $31.1M | 0.4% | +21.1% |
| SOLVSolventum Corp | $29.9M | 0.4% | |
| NWSANews Corp New | $29.4M | 0.4% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| Warner Bros Discovery IncCUSIP 934423104 | March 31, 2025 | +148.5% | $505.6M |
| Hewlett Packard Enterprise CCUSIP 42824C208 | September 30, 2024 | +91.1% | $41.0M |
| CONConcentra Group Holdings Par | December 31, 2024 | +50.4% | $31.1M |
| SIRISiriusxm Holdings Inc | December 31, 2025 | +47.7% | $25.1M |
| NWSANews Corp New | June 30, 2023 | +27.3% | $29.4M |
| TECKTeck Resources Ltd | March 31, 2026 | +14.9% | $343.3M |
| SPYMSpdr Series Trust | September 30, 2025 | +12.2% | $12.1M |
| KVUEKenvue Inc | December 31, 2025 | +10.8% | $535.1M |
| SOLVSolventum Corp | September 30, 2024 | +10.7% | $29.9M |
| NSCNorfolk Southn Corp | September 30, 2025 | +4.7% | $550.5M |
Sold off last quarter
- Hologic IncCUSIP 436440101 was $740.8M
- Masimo CorpCUSIP 574795100 was $458.2M
- CTRACoterra Energy Inc was $371.4M
- Air Lease CorpCUSIP 00912X302 was $358.9M
- Clearwater Analytics Hldgs ICUSIP 185123106 was $328.1M
- Sealed Air Corp NewCUSIP 81211K100 was $307.2M
- Arcellx IncCUSIP 03940C100 was $261.6M
- Terns Pharmaceuticals IncCUSIP 880881107 was $155.5M
- Apellis Pharmaceuticals IncCUSIP 03753U106 was $142.8M
- Amicus TherapeuticCUSIP 03152W109 was $127.0M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | −5.6% | +14.8% |
| December 31, 2025 | +5.8% | +2.4% |
| September 30, 2025 | −2.2% | +7.8% |
| June 30, 2025 | −3.6% | +10.5% |
| March 31, 2025 | −1.0% | −4.6% |
| December 31, 2024 | +2.3% | +2.1% |
| September 30, 2024 | −0.4% | +5.4% |
| June 30, 2024 | −22.1% | +4.0% |
| March 31, 2024 | +7.1% | +10.0% |
| December 31, 2023 | −13.8% | +11.2% |
| September 30, 2023 | −1.1% | −3.6% |
| September 30, 2022 | +1.3% | −5.3% |
| June 30, 2022 | −2.7% | −16.5% |
| March 31, 2022 | −2.3% | −4.9% |
| December 31, 2021 | +6.0% | +10.7% |
| September 30, 2021 | +0.4% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Hbk Investments L P Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1011443&type=13F-HR&dateb=&owner=include&count=40CIK 1011443
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1011443/000101144326000015/Filed August 14, 2026 · accession 0001011443-26-000015