§ 13F · FUND PROFILE
Hudson Bay Capital Management LP.
Multi-strategy, convertible arbitrage
AUM · $60.2B (13F)Positions · 3035Turnover · 66% · Q1Filed · May 13, 2026
CONCENTRATION
27%
Top 10 holdings
NEW BUYS
+510
+$2.9B deployed
EXITS
0
No exits
SECTOR SHIFT
OTHER → SEMICONDUCTORS
-6pp · +3pp
3YR HIT RATE
—
Top-5 overlap
§ 01 · TOP HOLDINGS
The book · Q1 2026
FILED MAY 13, 2026
| # | Ticker | Name | Shares | $ value | % port | Δ Q1 |
|---|---|---|---|---|---|---|
| 1 | NVDA | NVIDIA CORPORATION | 6.85M | $1.2B | 4.1% | +13% |
| 2 | TSLA | TESLA INC | 2.43M | $903M | 3.1% | −21% |
| 3 | NVDA | NVIDIA CORPORATION | 5.10M | $890M | 3.1% | — |
| 4 | AMZN | AMAZON COM INC | 4.26M | $887M | 3.1% | +41% |
| 5 | IWM | ISHARES TR | 3.52M | $872M | 3.0% | +66% |
| 6 | TSLA | TESLA INC | 1.88M | $700M | 2.4% | — |
| 7 | AMZN | AMAZON COM INC | 2.87M | $598M | 2.1% | — |
| 8 | PLTR | PALANTIR TECHNOLOGIES INC | 4.00M | $585M | 2.0% | +42% |
| 9 | NFLX | NETFLIX INC. | 5.90M | $567M | 2.0% | +45% |
| 10 | SPY | STATE STR SPDR S&P 500 ETF T | 864K | $562M | 1.9% | +53% |
§ 02 · SECTOR ALLOCATION
Where the money is
Other25.8% (−5pp)
Semiconductors16.5% (+3pp)
Technology12.8% (−1pp)
Media7.7% (±0)
Retail7.4% (−1pp)
Automobiles6.2% (−3pp)
§ 03 · THE HUDSON SIGNAL
AC read
Hudson Bay Capital Management LP is a Tactical / Macro fund managing $60.2 billion in assets. The fund runs a massive portfolio of 3,035 positions, broad diversification across holdings, with the top 10 accounting for 27%. Trading activity is aggressive at 66% quarterly turnover, with 510 new positions and 0 exits last quarter. Top sector allocations: Other (26%), Semiconductors (17%), Technology (13%).
Read the full dossier →§ 04 · FILING HISTORY
Q-by-Q deltas
2 FILINGS
Q1 2026
Busy quarter
+510 buys · −0 exits · 546 changed
Q4 2025
Busy quarter
+379 buys · −0 exits · 660 changed
Q3 2025
Busy quarter
+365 buys · −0 exits · 664 changed
Q3 2025
Busy quarter
+365 buys · −0 exits · 664 changed