HBK INVESTMENTS L P Q4 2025 Filing
Filed February 17, 2026
Portfolio Value
$12.7B
Holdings
222
Report Date
Q4 2025
Filing Type
13F-HR
All Holdings (222 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | NVDANVIDIA CORPORATION | 5,939,500 | $1.1B | 8.70% | Put |
| 2 | CYBRCYBERARK SOFTWARE LTD | 2,450,000 | $1.1B | 8.59% | |
| 3 | SPYSPDR S&P 500 ETF TR | 1,263,837 | $861.8M | 6.77% | Put |
| 4 | EXASEXACT SCIENCES CORP | 7,646,637 | $776.6M | 6.10% | |
| 5 | HOLXHOLOGIC INC | 8,400,000 | $625.7M | 4.92% | |
| 6 | NSCNORFOLK SOUTHN CORP | 2,130,000 | $615.0M | 4.83% | |
| 7 | DAYDAYFORCE INC | 7,850,000 | $542.9M | 4.27% | |
| 8 | CFLTCONFLUENT INC | 15,000,000 | $453.6M | 3.56% | |
| 9 | GTLSCHART INDS INC | 1,969,092 | $406.1M | 3.19% | |
| 10 | EAELECTRONIC ARTS INC | 1,909,982 | $390.3M | 3.07% | |
| 11 | NDQINVESCO QQQ TR | 579,500 | $356.0M | 2.80% | Put |
| 12 | CMACOMERICA INC | 3,975,000 | $345.5M | 2.71% | |
| 13 | RNAAVIDITY BIOSCIENCES INC | 4,365,000 | $314.8M | 2.47% | |
| 14 | WBDWARNER BROS DISCOVERY INC | 10,862,870 | $313.1M | 2.46% | Put |
| 15 | FYBRFRONTIER COMMUNICATIONS PARE | 7,800,000 | $296.9M | 2.33% | |
| 16 | ALAIR LEASE CORP | 4,602,260 | $295.6M | 2.32% | |
| 17 | LBRDKLIBERTY BROADBAND CORP | 5,908,691 | $287.2M | 2.26% | |
| 18 | CDTXCIDARA THERAPEUTICS INC | 1,260,000 | $278.3M | 2.19% | |
| 19 | AM6AMICUS THERAPEUTICS INC | 15,250,000 | $217.2M | 1.71% | |
| 20 | GQ9SPDR GOLD TR | 488,900 | $193.8M | 1.52% | Put |
| 21 | SYU1SYNOVUS FINL CORP | 3,792,518 | $189.5M | 1.49% | |
| 22 | IBITISHARES BITCOIN TRUST ETF | 3,476,600 | $172.6M | 1.36% | Put |
| 23 | AHLASPEN INSURANCE HOLDINGS LTD | 4,500,000 | $166.9M | 1.31% | |
| 24 | BHFBRIGHTHOUSE FINL INC | 2,100,000 | $136.1M | 1.07% | |
| 25 | TSMTAIWAN SEMICONDUCTOR MFG LTD | 338,900 | $103.0M | 0.81% | Put |
| 26 | TXNMTXNM ENERGY INC | 1,697,244 | $99.9M | 0.79% | |
| 27 | IWMISHARES TR | 298,200 | $73.4M | 0.58% | Put |
| 28 | TWO 6.25 01/15/26TWO HARBORS INVENTMENT CORPO | 62,077,000 | $62.2M | 0.49% | |
| 29 | CSGS 3.875 09/15/28CSG SYS INTL INC | 50,800,000 | $60.1M | 0.47% | |
| 30 | ARKBARK 21SHARES BITCOIN ETF | 1,966,887 | $57.1M | 0.45% | |
| 31 | WWAYFAIR INC | 24,805,000 | $56.9M | 0.45% | |
| 32 | SNDKSANDISK CORP | 234,697 | $55.7M | 0.44% | |
| 33 | TSLATESLA INC | 112,300 | $50.5M | 0.40% | Put |
| 34 | NBISNEBIUS GROUP N.V. | 556,800 | $46.6M | 0.37% | Put |
| 35 | GSGOLDMAN SACHS GROUP INC | 50,800 | $44.7M | 0.35% | Put |
| 36 | KVUEKENVUE INC | 2,535,001 | $43.7M | 0.34% | |
| 37 | GMEGAMESTOP CORP NEW | 2,022,153 | $40.6M | 0.32% | Put |
| 38 | SIRISIRIUSXM HOLDINGS INC | 1,970,104 | $39.4M | 0.31% | Call |
| 39 | MSTR 0 12/01/29STRATEGY INC | 47,396,000 | $39.0M | 0.31% | |
| 40 | RIVN 3.625 10/15/30RIVIAN AUTOMOTIVE INC | 34,000,000 | $38.2M | 0.30% | |
| 41 | COIN 0.25 04/01/30COINBASE GLOBAL INC | 37,200,000 | $38.2M | 0.30% | |
| 42 | PTON 5.5 12/01/29PELOTON INTERACTIVE INC | 22,500,000 | $37.4M | 0.29% | |
| 43 | ALHC 4.25 11/15/29ALIGNMENT HEALTHCARE INC | 24,100,000 | $36.6M | 0.29% | |
| 44 | LTMLATAM AIRLINES GROUP SA | 625,000 | $33.8M | 0.27% | Put |
| 45 | FETHFIDELITY ETHEREUM FD | 1,126,139 | $33.3M | 0.26% | |
| 46 | UBERUBER TECHNOLOGIES INC | 404,754 | $33.1M | 0.26% | Put |
| 47 | FRPT 3 04/01/28FRESHPET INC | 27,200,000 | $31.9M | 0.25% | |
| 48 | NWSANEWS CORP NEW | 1,183,664 | $30.9M | 0.24% | |
| 49 | SOLVSOLVENTUM CORP | 388,022 | $30.7M | 0.24% | |
| 50 | OMFONEMAIN HLDGS INC | 453,800 | $30.7M | 0.24% | Put |
| 51 | TXNM 5.75 06/01/54TXNM ENERGY INC | 22,500,000 | $30.3M | 0.24% | |
| 52 | ANIP 2.25 09/01/29ANI PHARMACEUTICALS INC | 22,650,000 | $28.6M | 0.22% | |
| 53 | MIGASTRATEGY INC | 173,564 | $26.4M | 0.21% | Put |
| 54 | CNKCINEMARK HLDGS INC | 1,123,000 | $26.1M | 0.21% | Put |
| 55 | TFXTELEFLEX INCORPORATED | 192,372 | $23.5M | 0.18% | |
| 56 | PMT 5.5 03/15/26PENNYMAC CORP | 21,840,000 | $21.8M | 0.17% | |
| 57 | PMT 8.5 06/01/29PENNYMAC CORP | 20,250,000 | $21.4M | 0.17% | |
| 58 | VERX 0.75 05/01/29VERTEX INC | 22,500,000 | $21.4M | 0.17% | |
| 59 | DUK 4.125 04/15/26DUKE ENERGY CORP NEW | 20,000,000 | $20.6M | 0.16% | |
| 60 | BL 1 06/01/29BLACKLINE INC | 18,505,000 | $19.6M | 0.15% | |
| 61 | LGNLEGENCE CORP | 450,000 | $19.4M | 0.15% | |
| 62 | AGNCAGNC INVT CORP | 1,800,000 | $19.3M | 0.15% | Put |
| 63 | BABA 0.5 06/01/31ALIBABA GROUP HLDG LTD | 12,000,000 | $18.7M | 0.15% | |
| 64 | ETHWBITWISE ETHEREUM ETF | 833,682 | $17.7M | 0.14% | |
| 65 | CHTRCHARTER COMMUNICATIONS INC N | 82,190 | $17.2M | 0.13% | Put |
| 66 | FVICN 3.75 06/30/29FORTUNA MNG CORP | 10,000,000 | $17.0M | 0.13% | |
| 67 | CONCONCENTRA GROUP HOLDINGS PAR | 862,750 | $17.0M | 0.13% | |
| 68 | BATRAATLANTA BRAVES HLDGS INC | 418,804 | $16.5M | 0.13% | |
| 69 | KOS 3.125 03/15/30KOSMOS ENERGY LTD | 38,250,000 | $16.3M | 0.13% | |
| 70 | VAC 3.25 12/15/27MARRIOTT VACATIONS WORLDWIDE | 16,500,000 | $15.7M | 0.12% | |
| 71 | TRIPTRIPADVISOR INC | 1,066,160 | $15.5M | 0.12% | Put |
| 72 | JETSETF SER SOLUTIONS | 513,300 | $14.4M | 0.11% | Put |
| 73 | ARCCARES CAPITAL CORP | 700,000 | $14.2M | 0.11% | Put |
| 74 | XLFSELECT SECTOR SPDR TR | 255,300 | $14.0M | 0.11% | Put |
| 75 | CRWVCOREWEAVE INC | 187,600 | $13.4M | 0.11% | Put |
| 76 | PSKYPARAMOUNT SKYDANCE CORP | 1,000,100 | $13.4M | 0.11% | |
| 77 | SVMCN 4.75 12/15/29SILVERCORP METALS INC | 6,500,000 | $13.3M | 0.10% | |
| 78 | HPE 7.625 09/01/27HEWLETT PACKARD ENTERPRISE C | 200,000 | $13.2M | 0.10% | |
| 79 | MSTRSTRATEGY INC | 10,107,000 | $12.8M | 0.10% | |
| 80 | CNP 4.25 08/15/26CENTERPOINT ENERGY INC | 11,500,000 | $12.6M | 0.10% | |
| 81 | BUDANHEUSER BUSCH INBEV SA/NV | 185,796 | $11.9M | 0.09% | |
| 82 | BTSGBRIGHTSPRING HEALTH SVCS INC | 300,000 | $11.2M | 0.09% | |
| 83 | HIMSHIMS & HERS HEALTH INC | 342,888 | $11.1M | 0.09% | Put |
| 84 | CVLTCOMMVAULT SYS INC | 87,800 | $11.0M | 0.09% | Put |
| 85 | BOXBOX INC | 331,766 | $9.9M | 0.08% | Put |
| 86 | MDLNMEDLINE INC | 235,000 | $9.9M | 0.08% | |
| 87 | ACHRARCHER AVIATION INC | 1,250,000 | $9.4M | 0.07% | |
| 88 | BACBANK AMERICA CORP | 166,800 | $9.2M | 0.07% | Put |
| 89 | CWANCLEARWATER ANALYTICS HLDGS I | 373,303 | $9.0M | 0.07% | |
| 90 | CLVTRIP COM GROUP LTD | 123,600 | $8.9M | 0.07% | Put |
| 91 | ETHGRAYSCALE ETHEREUM MINI TR E | 311,141 | $8.7M | 0.07% | |
| 92 | FQIDIGITAL RLTY TR INC | 55,842 | $8.6M | 0.07% | Put |
| 93 | DDOGDATADOG INC | 62,900 | $8.6M | 0.07% | Put |
| 94 | SPYMSPDR SERIES TRUST | 105,288 | $8.4M | 0.07% | |
| 95 | NIO 4.625 10/15/30NIO INC | 9,300,000 | $8.4M | 0.07% | |
| 96 | TRVCCITIGROUP INC | 72,000 | $8.4M | 0.07% | Put |
| 97 | PMTPENNYMAC MTG INVT TR | 666,700 | $8.4M | 0.07% | Put |
| 98 | SATSECHOSTAR CORP | 75,800 | $8.2M | 0.06% | Put |
| 99 | NEE 7.299 06/01/27NEXTERA ENERGY INC | 150,000 | $7.7M | 0.06% | |
| 100 | ARES 6.75 10/01/27 BARES MANAGEMENT CORPORATION | 150,000 | $7.5M | 0.06% |
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