§ 13F · FUND PROFILE
Hudson Bay Capital Management LP.
Multi-strategy, convertible arbitrage
AUM · $36.8B (13F)Positions · 1520Turnover · 66% · Q1Filed · Aug 14, 2026
CONCENTRATION
27%
Top 10 holdings
NEW BUYS
+510
+$3.8B deployed
EXITS
0
No exits
SECTOR SHIFT
OTHER → SEMICONDUCTORS
-6pp · +3pp
§ 01 · TOP HOLDINGS
The book · Q1 2026
FILED AUG 14, 2026
| # | Ticker | Name | Shares | $ value | % port | Δ Q1 |
|---|---|---|---|---|---|---|
| 1 | AMZN | AMAZON COM INC | 4.70M | $1.1B | 3.0% | +11% |
| 2 | TSLA | TESLA INC | 2.50M | $1.1B | 2.9% | +6% |
| 3 | AMZN | AMAZON COM INC | 4.04M | $962M | 2.6% | — |
| 4 | IWM | ISHARES TR | 3.11M | $935M | 2.5% | −24% |
| 5 | TSM | TAIWAN SEMICONDUCTOR MANUFAC | 1.95M | $931M | 2.5% | +183% |
| 6 | TSM | TAIWAN SEMICONDUCTOR MANUFAC | 1.91M | $913M | 2.5% | — |
| 7 | NVDA | NVIDIA CORPORATION | 4.46M | $892M | 2.4% | −33% |
| 8 | TSLA | TESLA INC | 2.05M | $864M | 2.3% | — |
| 9 | AMD | ADVANCED MICRO DEVICES INC | 1.40M | $811M | 2.2% | −43% |
| 10 | NVDA | NVIDIA CORPORATION | 3.93M | $786M | 2.1% | — |
§ 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 $36.8 billion in assets. The fund runs a massive portfolio of 1,520 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
3 OF 2 FILINGS MEASURED
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