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← Hudson Bay Capital Management LP, its record

Hudson Bay Capital Management LP and Woodline Partners LP: where the books meet

At Q2 2026, at least 21% of the two 13F books was the same, across 145 stocks both listed, against 5.6% at Q4 2019. 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%12%23%Q4 2019: 5.6%, 24 in bothQ1 2020: 5.8%, 34 in both20Q2 2020: 4.0%, 30 in bothQ3 2020: 3.3%, 29 in bothQ4 2020: 3.4%, 34 in bothQ1 2021: 5.9%, 97 in both21Q2 2021: 6.6%, 99 in bothQ3 2021: 7.8%, 103 in bothQ4 2021: 9.7%, 101 in bothQ1 2022: 9.6%, 105 in both22Q2 2022: 10%, 114 in bothQ3 2022: 10%, 113 in bothQ4 2022: 14%, 120 in bothQ1 2023: 8.9%, 103 in both23Q2 2023: 11%, 101 in bothQ3 2023: 13%, 99 in bothQ4 2023: 11%, 95 in bothQ1 2024: 10%, 108 in both24Q2 2024: 11%, 114 in bothQ3 2024: 8.6%, 93 in bothQ4 2024: 16%, 125 in bothQ1 2025: 16%, 117 in both25Q2 2025: 15%, 137 in bothQ3 2025: 17%, 139 in bothQ4 2025: 23%, 148 in bothQ1 2026: 21%, 138 in both26Q2 2026: 21%, 145 in both
  • Q4 2019: 5.6%, 24 in both
  • Q1 2020: 5.8%, 34 in both
  • Q2 2020: 4.0%, 30 in both
  • Q3 2020: 3.3%, 29 in both
  • Q4 2020: 3.4%, 34 in both
  • Q1 2021: 5.9%, 97 in both
  • Q2 2021: 6.6%, 99 in both
  • Q3 2021: 7.8%, 103 in both
  • Q4 2021: 9.7%, 101 in both
  • Q1 2022: 9.6%, 105 in both
  • Q2 2022: 10%, 114 in both
  • Q3 2022: 10%, 113 in both
  • Q4 2022: 14%, 120 in both
  • Q1 2023: 8.9%, 103 in both
  • Q2 2023: 11%, 101 in both
  • Q3 2023: 13%, 99 in both
  • Q4 2023: 11%, 95 in both
  • Q1 2024: 10%, 108 in both
  • Q2 2024: 11%, 114 in both
  • Q3 2024: 8.6%, 93 in both
  • Q4 2024: 16%, 125 in both
  • Q1 2025: 16%, 117 in both
  • Q2 2025: 15%, 137 in both
  • Q3 2025: 17%, 139 in both
  • Q4 2025: 23%, 148 in both
  • Q1 2026: 21%, 138 in both
  • Q2 2026: 21%, 145 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 LPWoodline Partners LP
Nvidia Corp(NVDA)2.1%Trimmed3.3%Added
Amazon Com Inc(AMZN)2.7%Added1.8%Trimmed
Alphabet Inc(GOOGL)1.5%Added1.2%Trimmed
Microsoft Corp(MSFT)1.1%Added1.9%Added
Tesla Motors Inc(TSLA)2.3%Added0.8%Added
Facebook Inc(META)0.8%Added1.4%Added
Adv Micro Dev STK(AMD)1.1%Trimmed0.6%Trimmed
Berkshire Hathaway Inc(BRK-B)1.1%Added0.6%Added
Alphabet Inc(GOOG)0.6%Added1.1%Added
Apple Inc(AAPL)0.5%Trimmed2.9%Added
Intel Corp(INTC)0.8%Added0.5%Added
Visa Inc(V)0.4%New0.4%Added
Microchip Technology Inc(MCHP)0.3%Added0.7%Added
Lilly Eli & Co(LLY)0.3%Added0.9%Added
Netflix Inc(NFLX)0.6%Trimmed0.3%Added
Unitedhealth Group Inc Com(UNH)0.3%Trimmed0.4%Added
Abbvie Inc(ABBV)0.3%Added0.7%Added
84615q103(SPCX)0.7%New0.3%New
Amgen Inc(AMGN)0.3%New0.3%Added
Home Depot Inc(HD)0.2%Added0.5%Added

and 125 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.

  • Nvidia Corp(NVDA)Hudson Bay Capital Management LP trimmed; Woodline Partners LP added
  • Amazon Com Inc(AMZN)Hudson Bay Capital Management LP added; Woodline Partners LP trimmed
  • Apple Inc(AAPL)Hudson Bay Capital Management LP trimmed; Woodline Partners LP added
  • Palantir Technologies Inc(PLTR)Hudson Bay Capital Management LP added; Woodline Partners LP trimmed
  • Alphabet Inc(GOOGL)Hudson Bay Capital Management LP added; Woodline Partners LP trimmed
  • Verizon Communications Inc(VZ)Hudson Bay Capital Management LP trimmed; Woodline Partners LP added
  • Walt Disney STK(DIS)Hudson Bay Capital Management LP sold out; Woodline Partners LP added
  • Netflix Inc(NFLX)Hudson Bay Capital Management LP trimmed; Woodline Partners LP added
  • JPMorgan Chase & Co(JPM)Hudson Bay Capital Management LP trimmed; Woodline Partners LP added
  • Johnson Controls International(JCI)Hudson Bay Capital Management LP trimmed; Woodline Partners LP added
  • Dollar Tree Inc(DLTR)Hudson Bay Capital Management LP added; Woodline Partners LP trimmed
  • Raytheon Technologies Corp(RTX)Hudson Bay Capital Management LP trimmed; Woodline Partners LP added
Hudson Bay Capital Management LP: the recordWoodline Partners LP: the record

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