1y return+15.7%S&P 500 +20.9%
3y return+62.3%S&P 500 +68.5%
5y return+60.7%S&P 500 +74.5%
10y return+223.4%S&P 500 +256.5%
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.
$100 invested in its stock picks
Since June 30, 2016: $323 against $357 in the S&P 500.2
Hudson Bay Capital Management LPS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| AMZNAmazon Com Inc | $981.8M | 5.1% | +39.6% |
| TSMTaiwan Semiconductor Manufac | $923.2M | 4.8% | +169.7% |
| TSLATesla Inc | $863.5M | 4.5% | +8.2% |
| NVDANvidia Corporation | $785.8M | 4.1% | −24.7% |
| SNDKSandisk Corp | $696.0M | 3.6% | New |
| PLTRPalantir Technologies Inc | $658.3M | 3.4% | +108.3% |
| GOOGLAlphabet Inc | $559.0M | 2.9% | +400.3% |
| BRK/BBerkshire Hathaway Inc Del | $409.5M | 2.1% | +6.9% |
| AMDAdvanced Micro Devices Inc | $398.4M | 2.1% | −57.7% |
| MSFTMicrosoft Corp | $388.5M | 2.0% | +42.8% |
| METAMeta Platforms Inc | $287.9M | 1.5% | +868.6% |
| INTCIntel Corp | $276.9M | 1.4% | +3.3% |
| SPCXSpace Exploration Techn Corp | $267.3M | 1.4% | New |
| GOOGAlphabet Inc | $207.9M | 1.1% | +30574.2% |
| NFLXNetflix Inc. | $204.6M | 1.1% | −37.5% |
| SNPSSynopsys Inc | $195.8M | 1.0% | +945.0% |
| VRTXVertex Pharmaceuticals Inc | $193.9M | 1.0% | +767.6% |
| Electronic Arts IncCUSIP 285512109 | $184.7M | 1.0% | +23.6% |
| AAPLApple Inc | $182.6M | 0.9% | −69.1% |
| NSCNorfolk Southn Corp | $153.0M | 0.8% | +17.9% |
| DLTRDollar Tree Inc | $152.6M | 0.8% | +11.7% |
| Warner Bros Discovery IncCUSIP 934423104 | $149.0M | 0.8% | +16.6% |
| FLGFlagstar Bank National Assoc | $145.4M | 0.8% | −71.9% |
| ABTAbbott Laboratories | $145.2M | 0.8% | +2033.3% |
| ADBEAdobe Inc | $136.5M | 0.7% | +55.3% |
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 |
|---|---|---|---|
| NVDANvidia Corporation | June 30, 2022 | +1219.9% | $785.8M |
| AMDAdvanced Micro Devices Inc | September 30, 2023 | +465.0% | $398.4M |
| AHRAmerican Healthcare Reit Inc | March 31, 2024 | +253.6% | $99.4M |
| TSMTaiwan Semiconductor Manufac | March 31, 2024 | +251.0% | $923.2M |
| GOOGLAlphabet Inc | June 30, 2022 | +228.0% | $559.0M |
| BEBloom Energy Corp | March 31, 2026 | +123.4% | $127.5M |
| ANETArista Networks Inc | March 31, 2025 | +119.3% | $105.9M |
| AAPLApple Inc | June 30, 2022 | +111.6% | $182.6M |
| GOOGAlphabet Inc | September 30, 2024 | +111.3% | $207.9M |
| BRK/BBerkshire Hathaway Inc Del | June 30, 2022 | +83.3% | $409.5M |
Sold off last quarter
- MUMicron Technology Inc was $168.9M
- AVGOBroadcom Inc was $154.8M
- DISDisney Walt Co was $106.0M
- CARAvis Budget Group Inc was $72.9M
- Masimo CorpCUSIP 574795100 was $58.8M
- POWIPower Integrations Inc was $51.2M
- Enviri CorpCUSIP 415864107 was $49.1M
- Valaris LtdCUSIP G9460G101 was $49.0M
- Apellis Pharmaceuticals IncCUSIP 03753U106 was $47.9M
- WELLWelltower Inc was $46.5M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +12.4% | +14.8% |
| March 31, 2026 | −4.4% | −4.6% |
| December 31, 2025 | +0.9% | +2.4% |
| September 30, 2025 | +6.9% | +7.8% |
| June 30, 2025 | +14.1% | +10.5% |
| March 31, 2025 | −5.5% | −4.6% |
| December 31, 2024 | +2.6% | +2.1% |
| September 30, 2024 | +3.3% | +5.4% |
| June 30, 2024 | +3.4% | +4.0% |
| March 31, 2024 | +10.5% | +10.0% |
| December 31, 2023 | +9.0% | +11.2% |
| September 30, 2023 | −1.5% | −3.6% |
| June 30, 2023 | +6.2% | +8.3% |
| March 31, 2023 | +8.7% | +7.0% |
| December 31, 2022 | −0.2% | +7.1% |
| September 30, 2022 | −1.3% | −5.3% |
| June 30, 2022 | −7.7% | −16.5% |
| March 31, 2022 | −3.6% | −4.9% |
| December 31, 2021 | −0.7% | +10.7% |
| September 30, 2021 | −1.5% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Hudson Bay Capital Management LP Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1393825&type=13F-HR&dateb=&owner=include&count=40CIK 1393825
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1393825/000139382526000058/Filed August 14, 2026 · accession 0001393825-26-000058