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← Hudson Bay Capital Management LP, its record

Hudson Bay Capital Management LP and T. Rowe Price Associates Inc: where the books meet

At Q2 2026, at least 22% of the two 13F books was the same, across 136 stocks both listed, against 3.3% 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%15%31%Q2 2013: 3.3%, 22 in bothQ3 2013: 3.1%, 26 in bothQ4 2013: 4.9%, 35 in bothQ1 2014: 5.2%, 39 in both14Q2 2014: 3.9%, 28 in bothQ3 2014: 4.7%, 39 in bothQ4 2014: 3.9%, 27 in bothQ1 2015: 6.1%, 34 in both15Q2 2015: 6.3%, 38 in bothQ3 2015: 3.4%, 27 in bothQ4 2015: 4.3%, 28 in bothQ1 2016: 2.7%, 27 in both16Q2 2016: 4.3%, 65 in bothQ3 2016: 4.5%, 66 in bothQ4 2016: 8.0%, 80 in bothQ1 2017: 8.0%, 80 in both17Q2 2017: 7.8%, 93 in bothQ3 2017: 9.6%, 79 in bothQ4 2017: 8.3%, 95 in bothQ1 2018: 12%, 90 in both18Q2 2018: 12%, 94 in bothQ3 2018: 12%, 104 in bothQ4 2018: 15%, 106 in bothQ1 2019: 8.3%, 88 in both19Q2 2019: 9.7%, 86 in bothQ3 2019: 8.7%, 80 in bothQ4 2019: 13%, 79 in bothQ1 2020: 8.6%, 84 in both20Q2 2020: 6.2%, 76 in bothQ3 2020: 5.9%, 68 in bothQ4 2020: 6.9%, 77 in bothQ1 2021: 5.7%, 59 in both21Q2 2021: 10%, 61 in bothQ3 2021: 3.8%, 53 in bothQ4 2021: 16%, 52 in bothQ1 2022: 5.8%, 55 in both22Q2 2022: 20%, 79 in bothQ3 2022: 23%, 80 in bothQ4 2022: 24%, 107 in bothQ1 2023: 19%, 119 in both23Q2 2023: 26%, 119 in bothQ3 2023: 31%, 133 in bothQ4 2023: 29%, 131 in bothQ1 2024: 26%, 125 in both24Q2 2024: 29%, 140 in bothQ3 2024: 26%, 132 in bothQ4 2024: 22%, 144 in bothQ1 2025: 19%, 129 in both25Q2 2025: 16%, 138 in bothQ3 2025: 20%, 138 in bothQ4 2025: 23%, 134 in bothQ1 2026: 22%, 143 in both26Q2 2026: 22%, 136 in both
  • Q2 2013: 3.3%, 22 in both
  • Q3 2013: 3.1%, 26 in both
  • Q4 2013: 4.9%, 35 in both
  • Q1 2014: 5.2%, 39 in both
  • Q2 2014: 3.9%, 28 in both
  • Q3 2014: 4.7%, 39 in both
  • Q4 2014: 3.9%, 27 in both
  • Q1 2015: 6.1%, 34 in both
  • Q2 2015: 6.3%, 38 in both
  • Q3 2015: 3.4%, 27 in both
  • Q4 2015: 4.3%, 28 in both
  • Q1 2016: 2.7%, 27 in both
  • Q2 2016: 4.3%, 65 in both
  • Q3 2016: 4.5%, 66 in both
  • Q4 2016: 8.0%, 80 in both
  • Q1 2017: 8.0%, 80 in both
  • Q2 2017: 7.8%, 93 in both
  • Q3 2017: 9.6%, 79 in both
  • Q4 2017: 8.3%, 95 in both
  • Q1 2018: 12%, 90 in both
  • Q2 2018: 12%, 94 in both
  • Q3 2018: 12%, 104 in both
  • Q4 2018: 15%, 106 in both
  • Q1 2019: 8.3%, 88 in both
  • Q2 2019: 9.7%, 86 in both
  • Q3 2019: 8.7%, 80 in both
  • Q4 2019: 13%, 79 in both
  • Q1 2020: 8.6%, 84 in both
  • Q2 2020: 6.2%, 76 in both
  • Q3 2020: 5.9%, 68 in both
  • Q4 2020: 6.9%, 77 in both
  • Q1 2021: 5.7%, 59 in both
  • Q2 2021: 10%, 61 in both
  • Q3 2021: 3.8%, 53 in both
  • Q4 2021: 16%, 52 in both
  • Q1 2022: 5.8%, 55 in both
  • Q2 2022: 20%, 79 in both
  • Q3 2022: 23%, 80 in both
  • Q4 2022: 24%, 107 in both
  • Q1 2023: 19%, 119 in both
  • Q2 2023: 26%, 119 in both
  • Q3 2023: 31%, 133 in both
  • Q4 2023: 29%, 131 in both
  • Q1 2024: 26%, 125 in both
  • Q2 2024: 29%, 140 in both
  • Q3 2024: 26%, 132 in both
  • Q4 2024: 22%, 144 in both
  • Q1 2025: 19%, 129 in both
  • Q2 2025: 16%, 138 in both
  • Q3 2025: 20%, 138 in both
  • Q4 2025: 23%, 134 in both
  • Q1 2026: 22%, 143 in both
  • Q2 2026: 22%, 136 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 LPT. Rowe Price Associates Inc
Amazon Com Inc(AMZN)2.7%Added2.6%Trimmed
Nvidia Corp(NVDA)2.1%Trimmed7.4%Trimmed
Alphabet Inc(GOOGL)1.5%Added3.6%Added
Adv Micro Dev STK(AMD)1.1%Trimmed2.1%Added
Tesla Motors Inc(TSLA)2.3%Added1.1%Added
Microsoft Corp(MSFT)1.1%Added3.3%Trimmed
Facebook Inc(META)0.8%Added1.7%Trimmed
Intel Corp(INTC)0.8%Added0.7%Added
Alphabet Inc(GOOG)0.6%Added2.1%Trimmed
Netflix Inc(NFLX)0.6%Trimmed0.7%Trimmed
Taiwan Semiconductor MFG LTD(TSM)2.5%Added0.5%Added
Apple Inc(AAPL)0.5%Trimmed4.6%Trimmed
Berkshire Hathaway Inc(BRK-B)1.1%Added0.5%Trimmed
Visa Inc(V)0.4%New1.2%Trimmed
SanDisk Corp(SNDK)1.9%New0.4%Added
Intuitive Surgical Inc(ISRG)0.4%Added0.4%Trimmed
Lilly Eli & Co(LLY)0.3%Added1.7%Trimmed
Arista Networks Inc(ANET)0.3%Trimmed0.4%Trimmed
Unitedhealth Group Inc Com(UNH)0.3%Trimmed1.0%Added
Shopify Inc(SHOP)0.3%Added0.3%Trimmed

and 116 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.

  • Microsoft Corp(MSFT)Hudson Bay Capital Management LP added; T. Rowe Price Associates Inc trimmed
  • Amazon Com Inc(AMZN)Hudson Bay Capital Management LP added; T. Rowe Price Associates Inc trimmed
  • Alphabet Inc(GOOG)Hudson Bay Capital Management LP added; T. Rowe Price Associates Inc trimmed
  • Adv Micro Dev STK(AMD)Hudson Bay Capital Management LP trimmed; T. Rowe Price Associates Inc added
  • Facebook Inc(META)Hudson Bay Capital Management LP added; T. Rowe Price Associates Inc trimmed
  • Lilly Eli & Co(LLY)Hudson Bay Capital Management LP added; T. Rowe Price Associates Inc trimmed
  • Micron Technology Inc(MU)Hudson Bay Capital Management LP sold out; T. Rowe Price Associates Inc added
  • Visa Inc(V)Hudson Bay Capital Management LP started; T. Rowe Price Associates Inc trimmed
  • Unitedhealth Group Inc Com(UNH)Hudson Bay Capital Management LP trimmed; T. Rowe Price Associates Inc added
  • JPMorgan Chase & Co(JPM)Hudson Bay Capital Management LP trimmed; T. Rowe Price Associates Inc added
  • Caterpillar STK(CAT)Hudson Bay Capital Management LP trimmed; T. Rowe Price Associates Inc added
  • Berkshire Hathaway Inc(BRK-B)Hudson Bay Capital Management LP added; T. Rowe Price Associates Inc trimmed
Hudson Bay Capital Management LP: the recordT. Rowe Price Associates Inc: the record

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