Hudson Bay Capital Management LP Q4 2025 Filing

Filed February 13, 2026

Portfolio Value

$30.3B

Holdings

1,040

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (1,040 positions)

#StockSharesValue% PortfolioType
101
SATSECHOSTAR CORP
360,728$38.0M0.13%Put
102
NVONOVO-NORDISK A S
779,203$38.0M0.13%Call
103
DWDMORGAN STANLEY
216,874$38.0M0.13%
104
AKRACADIA RLTY TR
1,888,022$38.0M0.13%
105
ETRENTERGY CORP NEW
421,663$38.0M0.13%
106
BIIBBIOGEN INC
221,860$38.0M0.13%
107
ISIIONIS PHARMACEUTICALS INC
475,000$37.0M0.12%
108
FRFIRST INDL RLTY TR INC
652,741$37.0M0.12%
109
MRKMERCK & CO INC
351,800$36.0M0.12%Put
110
HOLXHOLOGIC INC
490,000$36.0M0.12%
111
BNTXBIONTECH SE
375,000$35.0M0.12%
112
MAAMID-AMER APT CMNTYS INC
253,231$35.0M0.12%
113
ROKUROKU INC
323,326$35.0M0.12%
114
QRVOQORVO INC
402,372$34.0M0.11%
115
CTRECARETRUST REIT INC
952,641$34.0M0.11%
116
LVSLAS VEGAS SANDS CORP
528,084$34.0M0.11%Put
117
TVTXTRAVERE THERAPEUTICS INC
900,300$34.0M0.11%Put
118
LNTALLIANT ENERGY CORP
531,559$34.0M0.11%
119
BHCBAUSCH HEALTH COS INC
5,000,000$34.0M0.11%
120
TEAMATLASSIAN CORPORATION
206,000$33.0M0.11%
121
CUCAAVIS BUDGET GROUP
250,000$32.0M0.11%
122
SNYSANOFI SA
680,050$32.0M0.11%Call
123
SPOTSPOTIFY TECHNOLOGY S A
57,950$32.0M0.11%Put
124
NSANATIONAL STORAGE AFFILIATES
1,154,705$32.0M0.11%
125
XOMEXXON MOBIL CORP
272,979$32.0M0.11%
126
EGPEASTGROUP PPTYS INC
178,716$31.0M0.10%
127
NWENORTHWESTERN ENERGY GROUP IN
499,509$31.0M0.10%
128
MTDMETTLER TOLEDO INTERNATIONAL
22,000$30.0M0.10%
129
CFLTCONFLUENT INC
1,000,000$30.0M0.10%
130
TDSTELEPHONE & DATA SYS INC
750,000$30.0M0.10%
131
MTN 0 01/01/26VAIL RESORTS INC
30,236,000$30.0M0.10%
132
PPLPPL CORP
848,797$29.0M0.10%
133
APLSAPELLIS PHARMACEUTICALS INC
1,179,828$29.0M0.10%
134
AEPAMERICAN ELEC PWR CO INC
250,201$28.0M0.09%
135
ABVXABIVAX SA
208,219$28.0M0.09%
136
AEEAMEREN CORP
282,791$28.0M0.09%
137
MAMASTERCARD INCORPORATED
50,000$28.0M0.09%
138
DAY 0.25 03/15/26DAYFORCE INC
29,204,000$28.0M0.09%
139
LPLALPL FINL HLDGS INC
80,097$28.0M0.09%
140
KDPKEURIG DR PEPPER INC
1,000,000$28.0M0.09%Call
141
COPCONOCOPHILLIPS
300,000$28.0M0.09%
142
UBERUBER TECHNOLOGIES INC
355,933$28.0M0.09%Put
143
KNXKNIGHT-SWIFT TRANSN HLDGS IN
551,527$27.0M0.09%Put
144
MARMARRIOTT INTL INC NEW
89,178$27.0M0.09%
145
PDMPIEDMONT REALTY TRUST INC
3,247,359$27.0M0.09%
146
NVRIENVIRI CORP
1,500,000$26.0M0.09%
147
ACLXARCELLX INC
400,942$26.0M0.09%
148
HPEHEWLETT PACKARD ENTERPRISE C
1,000,000$24.0M0.08%Call
149
JPMJPMORGAN CHASE & CO.
77,500$24.0M0.08%
150
XBISPDR SERIES TRUST
200,000$24.0M0.08%Put
151
FT2FIRST HORIZON CORPORATION
1,029,675$24.0M0.08%
152
ANGXANGEL STUDIOS INC
5,294,466$24.0M0.08%
153
CMICUMMINS INC
47,730$24.0M0.08%
154
YEXTYEXT INC
2,952,453$23.0M0.08%
155
SLGSL GREEN RLTY CORP
507,882$23.0M0.08%
156
DAYDAYFORCE INC
341,401$23.0M0.08%
157
WFCWELLS FARGO CO NEW
243,801$22.0M0.07%
158
PODDINSULET CORP
80,000$22.0M0.07%
159
RIVN 3.625 10/15/30RIVIAN AUTOMOTIVE INC
20,000,000$22.0M0.07%
160
MDLNMEDLINE INC
550,050$22.0M0.07%
161
PNCPNC FINL SVCS GROUP INC
101,499$21.0M0.07%
162
DBRGDIGITALBRIDGE GROUP INC
1,461,522$21.0M0.07%Call
163
VSTVISTRA CORP
132,959$20.0M0.07%Put
164
SCHWSCHWAB CHARLES CORP
200,912$20.0M0.07%
165
REGNREGENERON PHARMACEUTICALS
26,127$20.0M0.07%
166
IVTINVENTRUST PPTYS CORP
740,690$20.0M0.07%
167
ICLRICON PLC
114,000$20.0M0.07%
168
HPPHUDSON PAC PPTYS INC
1,918,515$20.0M0.07%
169
JBHTHUNT J B TRANS SVCS INC
107,847$20.0M0.07%Put
170
ACHRARCHER AVIATION INC
2,648,333$19.0M0.06%
171
QCOMQUALCOMM INC
121,275$19.0M0.06%Put
172
DMIIDRUGS MADE IN AMER ACQ II CO
1,969,030$19.0M0.06%
173
AIGAMERICAN INTL GROUP INC
228,379$19.0M0.06%
174
TFCTRUIST FINL CORP
405,978$19.0M0.06%
175
EQREQUITY RESIDENTIAL
304,594$19.0M0.06%
176
SONSONOCO PRODS CO
440,884$18.0M0.06%Call
177
ARGXARGENX SE
21,822$18.0M0.06%
178
IPCXINFLECTION PT ACQUISITION CO
1,799,282$18.0M0.06%
179
VOYAVOYA FINANCIAL INC
253,740$18.0M0.06%
180
LMTLOCKHEED MARTIN CORP
40,000$18.0M0.06%Put
181
BFHBREAD FINANCIAL HOLDINGS INC
253,251$18.0M0.06%
182
LQDISHARES TR
165,000$18.0M0.06%
183
FDXFEDEX CORP
60,351$17.0M0.06%
184
MESHMESHFLOW ACQUISITION CORP
1,756,000$17.0M0.06%
185
YUMYUM BRANDS INC
113,730$17.0M0.06%
186
RACRITHM ACQUISITION CORP
1,724,500$17.0M0.06%
187
AMEAMETEK INC
85,361$17.0M0.06%
188
TEVATEVA PHARMACEUTICAL INDS LTD
570,000$17.0M0.06%Put
189
LVLNSPDR SERIES TRUST
276,139$17.0M0.06%
190
CFGCITIZENS FINL GROUP INC
304,489$17.0M0.06%
191
JCIJOHNSON CTLS INTL PLC
141,136$16.0M0.05%
192
LNCLINCOLN NATL CORP IND
380,224$16.0M0.05%
193
DMIIDRUGS MADE IN AMER ACQUTN CO
1,550,000$16.0M0.05%
194
AVDLAVADEL PHARMACEUTICALS PLC
782,239$16.0M0.05%
195
PSAPUBLIC STORAGE OPER CO
64,510$16.0M0.05%
196
CLCOLGATE PALMOLIVE CO
207,331$16.0M0.05%
197
ICEINTERCONTINENTAL EXCHANGE IN
100,350$16.0M0.05%
198
GILDGILEAD SCIENCES INC
136,871$16.0M0.05%
199
DAWNDAY ONE BIOPHARMACEUTICALS I
1,700,000$15.0M0.05%
200
JACSJACKSON ACQUISITION CO II
1,488,300$15.0M0.05%
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