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Hudson Bay Capital Management LP

The positions Hudson Bay Capital Management LP reported on its Form 13F for Q2 2026, the quarter ending 30 Jun 2026, filed on 14 Aug 2026. Every figure below is the filing’s own: US-listed long equity, valued at the quarter end, with the change measured against the same manager’s previous filing.

Reported book
$36.8bn
+$7.8bn on Q1 2026
Positions
1,335
56 new, 100 sold out
Top ten weight
26%
Spread across the book
Quarter
Q2 2026
Filed 14 Aug 2026
Read the Q2 2026 filing on sec.gov CIK 0001393825 · Multistrategy · CT
Reported book by quarter
$0$18.4bn$36.8bnQ3 24: $24.7bn$24.7bnQ3 24Q4 24: $28.4bn$28.4bnQ4 24Q1 25: $32.4bn$32.4bnQ1 25Q2 25: $29.4bn$29.4bnQ2 25Q3 25: $30.1bn$30.1bnQ3 25Q4 25: $30.3bn$30.3bnQ4 25Q1 26: $29.0bn$29.0bnQ1 26Q2 26: $36.8bn$36.8bnQ2 26
Largest positions, share of the book
Tesla Inc (TSLA): 3.2%Tesla Inc (TSLA)3.2%Amazon Com Inc (AMZN): 3.1%Amazon Com Inc (AMZN)3.1%Amazon Com Inc (AMZN): 2.7%Amazon Com Inc (AMZN)2.7%Nvidia Corporation (NVDA): 2.6%Nvidia Corporation (NVD…2.6%iShares TR: 2.5%iShares TR2.5%Taiwan Semiconductor Manufac: 2.5%Taiwan Semiconductor Ma…2.5%Taiwan Semiconductor Manufac: 2.5%Taiwan Semiconductor Ma…2.5%Tesla Inc (TSLA): 2.3%Tesla Inc (TSLA)2.3%Advanced Micro Devices Inc (AMD): 2.2%Advanced Micro Devices …2.2%Nvidia Corporation (NVDA): 2.1%Nvidia Corporation (NVD…2.1%

Opened this quarter

A new position is the clearest thing a filing says. Somebody argued for it recently, and it is the easiest question to be ready for.

  • SanDisk Corp (SNDK)$696m · 1.9%
  • SanDisk Corp (SNDK)$693m · 1.9%
  • Space Exploration Techn Corp$267m · 0.7%
  • Firstenergy Corp (FE)$207m · 0.6%
  • Synopsys Inc (SNPS)$178m · 0.5%
  • Abbott Laboratories (ABT)$136m · 0.4%
  • Visa Inc (V)$134m · 0.4%
  • Akamai Technologies Inc (AKAM)$133m · 0.4%
  • Vertex Pharmaceuticals Inc$124m · 0.3%
  • Microchip Technology Inc.$123m · 0.3%
  • Super Micro Computer Inc$114m · 0.3%
  • Uber Technologies Inc (UBER)$107m · 0.3%
  • and 44 more, in the table below.

Sold out of this quarter

Exits are valued at what the position was worth in the previous filing, because by this one it is gone.

  • Micron Technology Inc (MU)$338m held before
  • Disney Walt Co$212m held before
  • Avis Budget Group Inc (CAR)$73m held before
  • Masimo Corp$59m held before
  • Power Integrations Inc (POWI)$51m held before
  • Enviri Corp (NVRI)$49m held before
  • Valaris LTD$49m held before
  • Apellis Pharmaceuticals Inc$48m held before
  • Welltower Inc (WELL)$47m held before
  • Netstreit Corp (NTST)$42m held before
  • SPDR Series Trust$37m held before
  • Eastgroup Pptys Inc$37m held before
  • and 88 more.

Every reported position, Q2 2026

200 positions, sorted by weight · page 1 of 2

PositionWeight ↑ValueSharesChange on the quarterAction
Insulet Corp (PODD)
COM · CUSIP 45784P101
0.1%$24m155,000
+$500k
+45,000 shares
Added
Biontech Se (BNTX)
SPONSORED ADS · CUSIP 09075V102
0.1%$24m260,000
-$200k
-15,000 shares
Trimmed
CSX Corp (CSX)
COM · CUSIP 126408103
0.1%$24m511,993
+$5.8m
+59,632 shares
Added
Lincoln Natl Corp Ind
COM · CUSIP 534187109
0.1%$25m694,014
+$7.2m
+206,859 shares
Added
Bausch Health Cos Inc
COM · CUSIP 071734107
0.1%$25m5,000,000
-$2.4m
0 shares
Held
Verizon Communications Inc (VZ)
COM CALL · CUSIP 92343V104
0.1%$25m584,800No earlier filingNew
Verizon Communications Inc (VZ)
COM PUT · CUSIP 92343V104
0.1%$25m584,800No earlier filingNew
Vaneck ETF Trust
SEMICONDUCTR ETF · CUSIP 92189F676
0.1%$25m37,960No earlier filingNew
Phillips Edison & Co Inc (PECO)
COMMON STOCK · CUSIP 71844V201
0.1%$25m598,996
-$9.1m
-311,033 shares
Trimmed
Alphabet Inc
DEP SHS RP1/20 A · CUSIP 02079K404
0.1%$25m500,000No earlier filingNew
Arcosa Inc (ACA)
COM · CUSIP 039653100
0.1%$25m175,000No earlier filingNew
Extra Space Storage Inc (EXR)
COM · CUSIP 30225T102
0.1%$26m175,298No earlier filingNew
Boeing Co
COM · CUSIP 097023105
0.1%$26m119,112
+$16m
+69,733 shares
Added
SPDR Series Trust
SP O&G EXPL PRO CALL · CUSIP 78468R556
0.1%$26m170,000No earlier filingNew
Citizens Finl Group Inc
COM · CUSIP 174610105
0.1%$26m376,960
+$5.1m
+21,596 shares
Added
Sofi Technologies Inc (SOFI)
COM PUT · CUSIP 83406F102
0.1%$27m1,500,000
-$12m
-920,000 shares
Trimmed
PNC Finl SVCS Group Inc
COM · CUSIP 693475105
0.1%$27m109,372
+$5.8m
+7,873 shares
Added
Cummins Inc (CMI)
COM · CUSIP 231021106
0.1%$27m38,224
+$8.0m
+2,509 shares
Added
Mettler Toledo International (MTD)
COM · CUSIP 592688105
0.1%$28m22,000
+$400k
0 shares
Held
Johnson Controls Internation
SHS · CUSIP G51502105
0.1%$29m196,219
unchanged
-22,485 shares
Trimmed
BXP Inc (BXP)
COM · CUSIP 101121101
0.1%$29m435,892
+$21m
+282,724 shares
Added
Cubesmart (CUBE)
COM · CUSIP 229663109
0.1%$29m734,792
+$800k
-39,620 shares
Trimmed
Coherent Corp (COHR)
COM PUT · CUSIP 19247G107
0.1%$29m74,000
+$600k
-46,000 shares
Trimmed
Coherent Corp (COHR)
COM · CUSIP 19247G107
0.1%$29m74,240
+$700k
-45,760 shares
Trimmed
Servicenow Inc (NOW)
COM PUT · CUSIP 81762P102
0.1%$30m300,000No earlier filingNew
Servicenow Inc (NOW)
COM · CUSIP 81762P102
0.1%$30m303,100No earlier filingNew
RTX Corporation (RTX)
COM · CUSIP 75513E101
0.1%$30m159,316
-$22m
-109,239 shares
Trimmed
Southern Co
NOTE 3.250% 6/1 · CUSIP 842587ED5
0.1%$30m30,000,000No earlier filingNew
Brixmor Ppty Group Inc
COM · CUSIP 11120U105
0.1%$31m970,848No earlier filingNew
iShares Bitcoin Trust ETF (IBIT)
SHS BEN INT PUT · CUSIP 46438F101
0.1%$31m925,000
-$96m
-2,377,600 shares
Trimmed
Conocophillips (COP)
COM · CUSIP 20825C104
0.1%$31m301,860No earlier filingNew
Novo-nordisk A S
ADR PUT · CUSIP 670100205
0.1%$32m660,000No earlier filingNew
Boston Scientific Corp (BSX)
COM · CUSIP 101137107
0.1%$32m742,896
+$1.3m
+258,896 shares
Added
Boeing Co
COM CALL · CUSIP 097023105
0.1%$32m146,600No earlier filingNew
Vistance Networks Inc (VISN)
COM · CUSIP 20337X109
0.1%$32m2,501,765
-$46m
-1,782,014 shares
Trimmed
iShares Bitcoin Trust ETF (IBIT)
SHS BEN INT · CUSIP 46438F101
0.1%$33m978,262
-$40m
-900,000 shares
Trimmed
Teamshares Inc
COM · CUSIP 87821B109
0.1%$33m4,000,000No earlier filingNew
iShares Bitcoin Trust ETF (IBIT)
SHS BEN INT CALL · CUSIP 46438F101
0.1%$33m1,000,000
+$14m
+500,000 shares
Added
Broadcom Inc (AVGO)
COM PUT · CUSIP 11135F101
0.1%$33m88,100
-$122m
-411,900 shares
Trimmed
Rexford Indl Rlty Inc
COM · CUSIP 76169C100
0.1%$34m1,001,292No earlier filingNew
Tanger Inc (SKT)
COM · CUSIP 875465106
0.1%$34m866,251
+$15m
+313,707 shares
Added
Berkshire Hathaway Inc Del
CL B NEW CALL · CUSIP 084670702
0.1%$34m68,600No earlier filingNew
Evergy Inc (EVRG)
COM · CUSIP 30034W106
0.1%$35m400,467
+$18m
+193,518 shares
Added
Telephone & Data Sys Inc
COM NEW · CUSIP 879433829
0.1%$35m942,129
+$400k
+123,429 shares
Added
Novo-nordisk A S
ADR · CUSIP 670100205
0.1%$35m730,000
+$30m
+604,962 shares
Added
Invesco Exch Traded FD TR II
SR LN ETF · CUSIP 46138G508
0.1%$35m1,725,000No earlier filingNew
JPMorgan Chase & Co
COM · CUSIP 46625H100
0.1%$36m109,391
-$22m
-88,385 shares
Trimmed
Invesco QQQ TR
UNIT SER 1 CALL · CUSIP 46090E103
0.1%$37m50,000
-$87m
-164,900 shares
Trimmed
Acadia Rlty TR
COM SH BEN INT · CUSIP 004239109
0.1%$37m1,774,333
+$6.5m
+172,964 shares
Added
Alphabet Inc
DEP SHS RP1/20 B · CUSIP 02079K602
0.1%$37m740,000No earlier filingNew
Howmet Aerospace Inc (HWM)
COM · CUSIP 443201108
0.1%$38m141,770No earlier filingNew
Omega Healthcare Invs Inc
COM · CUSIP 681936100
0.1%$38m799,358No earlier filingNew
Cerebras Systems Inc (CBRS)
COM CL A · CUSIP 15675D103
0.1%$39m174,672No earlier filingNew
Ameren Corp (AEE)
COM · CUSIP 023608102
0.1%$39m341,487
-$2.5m
-32,029 shares
Trimmed
Invesco QQQ TR
UNIT SER 1 · CUSIP 46090E103
0.1%$39m52,836
+$24m
+26,836 shares
Added
LPL Finl HLDGS Inc
COM · CUSIP 50212V100
0.1%$39m138,214
-$1.8m
+2,890 shares
Added
Xcel Energy Inc
COM · CUSIP 98389B100
0.1%$40m491,605
+$2.0m
+19,972 shares
Added
Procter & Gamble Co (PG)
COM CALL · CUSIP 742718109
0.1%$40m272,600No earlier filingNew
Procter & Gamble Co (PG)
COM PUT · CUSIP 742718109
0.1%$40m272,600No earlier filingNew
Four Corners Ppty TR Inc
COM · CUSIP 35086T109
0.1%$40m1,631,387No earlier filingNew
Firstenergy Corp (FE)
NOTE 3.875% 1/1 · CUSIP 337932AV9
0.1%$40m36,000,000No earlier filingNew
iShares Inc
MSCI STH KOR ETF CALL · CUSIP 464286772
0.1%$40m200,000No earlier filingNew
SPDR Gold TR
GOLD SHS PUT · CUSIP 78463V107
0.1%$41m110,000
-$133m
-293,400 shares
Trimmed
Firstenergy Corp (FE)
COM · CUSIP 337932107
0.1%$41m854,839
-$13m
-201,298 shares
Trimmed
Kenvue Inc (KVUE)
COM · CUSIP 49177J102
0.1%$42m2,195,000
-$29m
-1,890,000 shares
Trimmed
NCR Atleos Corporation (NATL)
COM SHS · CUSIP 63001N106
0.1%$43m992,914No earlier filingNew
Autozone Inc (AZO)
COM · CUSIP 053332102
0.1%$43m13,500
-$2.5m
0 shares
Held
Home Depot Inc (HD)
COM CALL · CUSIP 437076102
0.1%$43m122,600No earlier filingNew
Core Scientific Inc New
*W EXP 01/23/202 · CUSIP 21874A114
0.1%$43m2,299,662
+$29m
+709,002 shares
Added
Digital Rlty TR Inc
COM · CUSIP 253868103
0.1%$43m241,081No earlier filingNew
Keel Infrastructure Corp (KEEL)
COM SHS · CUSIP 486917107
0.1%$44m7,698,729No earlier filingNew
SPDR Series Trust
SP O&G EXPL PRO PUT · CUSIP 78468R556
0.1%$45m290,000No earlier filingNew
Alnylam Pharmaceuticals Inc (ALNY)
COM · CUSIP 02043Q107
0.1%$45m148,720
+$32m
+108,720 shares
Added
Echostar Corp (ECHO)
CL A · CUSIP 278768106
0.1%$47m457,719
+$27m
+292,565 shares
Added
Udr Inc (UDR)
COM · CUSIP 902653104
0.1%$47m1,180,557
+$21m
+391,376 shares
Added
Biomarin Pharmaceutical Inc (BMRN)
COM · CUSIP 09061G101
0.1%$47m825,002
-$7.9m
-149,774 shares
Trimmed
Core Scientific Inc New
COM · CUSIP 21874A106
0.1%$49m1,895,000
+$43m
+1,544,590 shares
Added
TXNM Energy Inc (TXNM)
COM · CUSIP 69349H107
0.1%$50m888,032
+$4.1m
+95,922 shares
Added
Unitedhealth Group Inc (UNH)
COM CALL · CUSIP 91324P102
0.1%$51m123,000No earlier filingNew
NNN REIT Inc (NNN)
COM · CUSIP 637417106
0.1%$51m1,102,191
+$4.6m
-8,207 shares
Trimmed
Morgan Stanley
COM NEW PUT · CUSIP 617446448
0.1%$52m250,000No earlier filingNew
Asml HLDG NV
N Y REGISTRY SHS CALL · CUSIP N07059210
0.1%$53m26,500No earlier filingNew
Airbnb Inc (ABNB)
COM CL A · CUSIP 009066101
0.1%$53m369,225
+$14m
+62,225 shares
Added
Sun Cmntys Inc
COM · CUSIP 866674104
0.2%$56m463,853
+$36m
+310,035 shares
Added
International Business Machs
COM · CUSIP 459200101
0.2%$56m200,000No earlier filingNew
United Airls HLDGS Inc
COM · CUSIP 910047109
0.2%$58m425,772
+$21m
+29,313 shares
Added
Neogen Corp (NEOG)
COM · CUSIP 640491106
0.2%$58m6,500,000
-$2.0m
-180 shares
Trimmed
Chipotle Mexican Grill Inc (CMG)
COM · CUSIP 169656105
0.2%$59m1,740,400
+$17m
+431,300 shares
Added
Monster Beverage Corp New (MNST)
COM · CUSIP 61174X109
0.2%$60m626,812
+$20m
+64,812 shares
Added
Capital One Finl Corp
COM · CUSIP 14040H105
0.2%$61m303,740
+$13m
+42,950 shares
Added
American Elec PWR Co Inc
COM · CUSIP 025537101
0.2%$62m450,653
+$23m
+154,871 shares
Added
iShares TR
ISHARES SEMICDTR CALL · CUSIP 464287523
0.2%$64m100,000No earlier filingNew
Penumbra Inc (PEN)
COM · CUSIP 70975L107
0.2%$64m203,138
-$51m
-145,900 shares
Trimmed
Roku Inc (ROKU)
COM CL A · CUSIP 77543R102
0.2%$64m465,000
+$63m
+449,405 shares
Added
Wells Fargo & Co
COM · CUSIP 949746101
0.2%$64m777,069
+$12m
+119,879 shares
Added
Northwestern Energy Group In
COM NEW · CUSIP 668074305
0.2%$65m903,026
+$24m
+278,017 shares
Added
Entergy Corp New
COM · CUSIP 29364G103
0.2%$65m569,554
+$6.0m
+40,988 shares
Added
Nvidia Corporation (NVDA)
COM CALL · CUSIP 67066G104
0.2%$66m329,000
-$151m
-912,500 shares
Trimmed
Uber Technologies Inc (UBER)
COM PUT · CUSIP 90353T100
0.2%$69m961,100
+$50m
+694,500 shares
Added
Webster Finl Corp
COM · CUSIP 947890109
0.2%$70m912,247
-$14m
-287,002 shares
Trimmed

Every filing on file

QuarterPeriod endFiledBookPositionsTop 10Filing
Q2 202630 Jun 202614 Aug 2026$36.8bn1,33526%13F-HR
Q1 202631 Mar 202613 May 2026$29.0bn1,37827%13F-HR
Q4 202531 Dec 202513 Feb 2026$30.3bn1,16026%13F-HR
Q3 202530 Sept 202515 Dec 2025$30.1bn1,19829%13F-HR
Q2 202530 Jun 202518 Aug 2025$29.4bn1,33928%13F-HR
Q1 202531 Mar 202514 May 2025$32.4bn1,27124%13F-HR
Q4 202431 Dec 202414 Feb 2025$28.4bn90625%13F-HR
Q3 202430 Sept 202413 Nov 2024$24.7bn83431%13F-HR

Taking this into the room

Pick one name from the top of the book and one from the new positions, and know both properly: what the company earns, what it is priced at, and what has to be true for the position to work. That is a conversation. Reciting the whole table is not, and the interviewer wrote it.

A position sold out of is worth as much preparation as one opened. Ask what changed rather than asserting the fund was wrong, and be ready for the answer that the thesis played out and the money went somewhere better.

Compare this against every other manager →How a hedge fund interview runs →

What this filing leaves out

A 13F covers US-listed long equity at one moment in time. Shorts, bonds, cash, private positions and non-US listings never appear, and options are reported in a form that will mislead you if you read them as a position. A long/short manager showing $8bn here may run a book several times that size.

The lag matters too. Positions are as at the quarter end and the filing arrives up to forty-five days later, so what you are reading is at least six weeks old and possibly four months. Phrase it as what the filing showed, not what the fund holds today.

Company names, tickers and logos are the trademarks of their respective owners and appear here to identify the company whose public figures are being used. L3VLUP is not affiliated with, sponsored by or endorsed by any company shown, and nothing here is a statement by or about that company. More