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← Hudson Bay Capital Management LP, its record

Hudson Bay Capital Management LP and AllianceBernstein LP: where the books meet

At Q2 2026, at least 20% of the two 13F books was the same, across 140 stocks both listed, against 3.0% at Q2 2013. Overlap is the smaller of each shared stock’s two weights, added up: the part of one book that could be swapped for the other’s without a trade.

Overlap by quarter
0%13%26%Q2 2013: 3.0%, 21 in bothQ3 2013: 3.4%, 24 in bothQ4 2013: 5.0%, 30 in bothQ1 2014: 5.1%, 33 in both14Q2 2014: 4.0%, 20 in bothQ3 2014: 6.6%, 36 in bothQ4 2014: 3.9%, 21 in bothQ1 2015: 4.0%, 24 in both15Q2 2015: 4.8%, 30 in bothQ3 2015: 4.0%, 28 in bothQ4 2015: 4.6%, 22 in bothQ1 2016: 2.1%, 23 in both16Q2 2016: 3.8%, 64 in bothQ3 2016: 4.4%, 70 in bothQ4 2016: 6.9%, 79 in bothQ1 2017: 7.7%, 88 in both17Q2 2017: 7.4%, 92 in bothQ3 2017: 7.7%, 69 in bothQ4 2017: 7.7%, 79 in bothQ1 2018: 12%, 96 in both18Q2 2018: 11%, 94 in bothQ3 2018: 11%, 94 in bothQ4 2018: 12%, 111 in bothQ1 2019: 6.9%, 83 in both19Q2 2019: 8.0%, 78 in bothQ3 2019: 8.1%, 77 in bothQ4 2019: 9.3%, 83 in bothQ1 2020: 8.3%, 82 in both20Q2 2020: 5.3%, 79 in bothQ3 2020: 5.2%, 66 in bothQ4 2020: 6.6%, 62 in bothQ1 2021: 5.5%, 52 in both21Q2 2021: 10%, 67 in bothQ3 2021: 3.8%, 51 in bothQ4 2021: 15%, 64 in bothQ1 2022: 5.4%, 59 in both22Q2 2022: 16%, 78 in bothQ3 2022: 18%, 74 in bothQ4 2022: 21%, 90 in bothQ1 2023: 16%, 98 in both23Q2 2023: 24%, 111 in bothQ3 2023: 23%, 108 in bothQ4 2023: 24%, 116 in bothQ1 2024: 24%, 109 in both24Q2 2024: 26%, 126 in bothQ3 2024: 24%, 115 in bothQ4 2024: 21%, 126 in bothQ1 2025: 18%, 127 in both25Q2 2025: 16%, 130 in bothQ3 2025: 18%, 137 in bothQ4 2025: 22%, 131 in bothQ1 2026: 21%, 138 in both26Q2 2026: 20%, 140 in both
  • Q2 2013: 3.0%, 21 in both
  • Q3 2013: 3.4%, 24 in both
  • Q4 2013: 5.0%, 30 in both
  • Q1 2014: 5.1%, 33 in both
  • Q2 2014: 4.0%, 20 in both
  • Q3 2014: 6.6%, 36 in both
  • Q4 2014: 3.9%, 21 in both
  • Q1 2015: 4.0%, 24 in both
  • Q2 2015: 4.8%, 30 in both
  • Q3 2015: 4.0%, 28 in both
  • Q4 2015: 4.6%, 22 in both
  • Q1 2016: 2.1%, 23 in both
  • Q2 2016: 3.8%, 64 in both
  • Q3 2016: 4.4%, 70 in both
  • Q4 2016: 6.9%, 79 in both
  • Q1 2017: 7.7%, 88 in both
  • Q2 2017: 7.4%, 92 in both
  • Q3 2017: 7.7%, 69 in both
  • Q4 2017: 7.7%, 79 in both
  • Q1 2018: 12%, 96 in both
  • Q2 2018: 11%, 94 in both
  • Q3 2018: 11%, 94 in both
  • Q4 2018: 12%, 111 in both
  • Q1 2019: 6.9%, 83 in both
  • Q2 2019: 8.0%, 78 in both
  • Q3 2019: 8.1%, 77 in both
  • Q4 2019: 9.3%, 83 in both
  • Q1 2020: 8.3%, 82 in both
  • Q2 2020: 5.3%, 79 in both
  • Q3 2020: 5.2%, 66 in both
  • Q4 2020: 6.6%, 62 in both
  • Q1 2021: 5.5%, 52 in both
  • Q2 2021: 10%, 67 in both
  • Q3 2021: 3.8%, 51 in both
  • Q4 2021: 15%, 64 in both
  • Q1 2022: 5.4%, 59 in both
  • Q2 2022: 16%, 78 in both
  • Q3 2022: 18%, 74 in both
  • Q4 2022: 21%, 90 in both
  • Q1 2023: 16%, 98 in both
  • Q2 2023: 24%, 111 in both
  • Q3 2023: 23%, 108 in both
  • Q4 2023: 24%, 116 in both
  • Q1 2024: 24%, 109 in both
  • Q2 2024: 26%, 126 in both
  • Q3 2024: 24%, 115 in both
  • Q4 2024: 21%, 126 in both
  • Q1 2025: 18%, 127 in both
  • Q2 2025: 16%, 130 in both
  • Q3 2025: 18%, 137 in both
  • Q4 2025: 22%, 131 in both
  • Q1 2026: 21%, 138 in both
  • Q2 2026: 20%, 140 in both

Only quarters both managers filed. Where either filing has more positions than are read each quarter, a stock both hold below that range is not counted, so the figure is a floor.

What the overlap is made of, Q2 2026

Stocks both listed, by the smaller of the two weights. A weight is the stock’s share of that manager’s reported book, which says how large the position is, not how strongly it is held.

StockHudson Bay Capital Management LPAllianceBernstein LP
Amazon Com Inc(AMZN)2.7%Added2.6%Trimmed
Nvidia Corp(NVDA)2.1%Trimmed5.6%Trimmed
Alphabet Inc(GOOGL)1.5%Added1.1%Added
Microsoft Corp(MSFT)1.1%Added3.2%Trimmed
Taiwan Semiconductor MFG LTD(TSM)2.5%Added0.8%Trimmed
Facebook Inc(META)0.8%Added2.3%Trimmed
Berkshire Hathaway Inc(BRK-B)1.1%Added0.6%Trimmed
Alphabet Inc(GOOG)0.6%Added3.5%Trimmed
Netflix Inc(NFLX)0.6%Trimmed1.1%Trimmed
Apple Inc(AAPL)0.5%Trimmed3.6%Added
Vertex Pharmaceuticals Inc(VRTX)0.5%Added0.4%Trimmed
Tesla Motors Inc(TSLA)2.3%Added0.4%Added
Visa Inc(V)0.4%New1.8%Trimmed
Adv Micro Dev STK(AMD)1.1%Trimmed0.4%Added
Intuitive Surgical Inc(ISRG)0.4%Added0.6%Trimmed
Lilly Eli & Co(LLY)0.3%Added1.3%Trimmed
Shopify Inc(SHOP)0.3%Added0.3%Trimmed
Unitedhealth Group Inc Com(UNH)0.3%Trimmed0.7%Added
Abbvie Inc(ABBV)0.3%Added0.3%Trimmed
Home Depot Inc(HD)0.2%Added0.7%Added

and 120 smaller ones

Moved different ways in Q2 2026

Stocks one manager started or added to while the other trimmed or sold out, between the same two quarter ends. A 13F shows the quarter ends, never when in between anything was bought or sold, or why.

  • Apple Inc(AAPL)Hudson Bay Capital Management LP trimmed; AllianceBernstein LP added
  • Alphabet Inc(GOOG)Hudson Bay Capital Management LP added; AllianceBernstein LP trimmed
  • Microsoft Corp(MSFT)Hudson Bay Capital Management LP added; AllianceBernstein LP trimmed
  • Amazon Com Inc(AMZN)Hudson Bay Capital Management LP added; AllianceBernstein LP trimmed
  • Facebook Inc(META)Hudson Bay Capital Management LP added; AllianceBernstein LP trimmed
  • Visa Inc(V)Hudson Bay Capital Management LP started; AllianceBernstein LP trimmed
  • Lilly Eli & Co(LLY)Hudson Bay Capital Management LP added; AllianceBernstein LP trimmed
  • Costco Wholesale Coro(COST)Hudson Bay Capital Management LP added; AllianceBernstein LP trimmed
  • Taiwan Semiconductor MFG LTD(TSM)Hudson Bay Capital Management LP added; AllianceBernstein LP trimmed
  • Unitedhealth Group Inc Com(UNH)Hudson Bay Capital Management LP trimmed; AllianceBernstein LP added
  • Monster Beverage Corp(MNST)Hudson Bay Capital Management LP added; AllianceBernstein LP trimmed
  • Berkshire Hathaway Inc(BRK-B)Hudson Bay Capital Management LP added; AllianceBernstein LP trimmed
Hudson Bay Capital Management LP: the recordAllianceBernstein LP: the record

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