Hudson Bay Capital Management LP

New 13F: Q3 2026

Hudson Bay Capital Management LP filed its 13F for the quarter ended Sep 30, 2026 on Nov 13, 2026: $6.2B in AI and semiconductor stocks; $1.4B bought and $4.0B sold against its previous quarter, at the quarter's prices.

Hudson Bay Capital Management LP declares $8.1B in 102 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 22.1% of its $36.8B 13F portfolio. Largest positions: Amazon (0.04% of the company) and TSMC (0.04% of the company). Over time: $8.1B in 102 of these companies for Q2 2026, against $267.2M in 11 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $3.7B and sold $2.1B of these stocks, at the quarter's prices: a net purchase of $1.6B; 43 new positions and 17 sold out.

Performance of its AI picks

The AI-stock portfolio Hudson Bay Capital Management LP declared for Q2 2026 (Form 13F), held unchanged, returned +5.2% in Q3 2026 (SMH -7.1%), ranked 557 of 1,785 active managers. Over the last 12 months, quarter after quarter: +43.1% (SMH +87.2%), ranked 231 of 1,360 active managers. Over three years, quarter after quarter: +199.2% (SMH +325.8%), ranked 105 of 784 active managers. Over five years, quarter after quarter: +211.3% (SMH +389.8%). Trades made during a quarter are not visible in 13F filings: this measures its declared picks, not the return of its funds.

Largest positions

  1. Amazon (AMZN): $981.8M, 4.1M shares, 0.04% of the company, 2.7% of its portfolio (added this quarter); held since Q4 2021
  2. TSMC (TSM): $923.2M, 1.9M shares, 0.04% of the company, 2.5% of its portfolio (added this quarter); held since Q1 2024
  3. NVIDIA (NVDA): $785.8M, 3.9M shares, 0.02% of the company, 2.1% of its portfolio (trimmed this quarter); held since Q2 2022
  4. Alphabet (GOOGL): $766.9M, 2.2M shares, 0.02% of the company, 2.1% of its portfolio (added this quarter); held since Q4 2021
  5. Sandisk (SNDK): $696.0M, 306,118 shares, 0.22% of the company, 1.9% of its portfolio (new position this quarter)
  6. Palantir (PLTR): $658.3M, 5.6M shares, 0.23% of the company, 1.8% of its portfolio (added this quarter); held since Q1 2025
  7. AMD (AMD): $398.4M, 685,802 shares, 0.04% of the company, 1.1% of its portfolio (trimmed this quarter); held since Q3 2023
  8. Microsoft (MSFT): $388.5M, 1.0M shares, 0.01% of the company, 1.1% of its portfolio (added this quarter); held since Q2 2022
  9. Meta Platforms (META): $287.9M, 511,031 shares, 0.02% of the company, 0.78% of its portfolio (added this quarter); held since Q4 2021
  10. Intel (INTC): $276.9M, 2.0M shares, 0.04% of the company, 0.75% of its portfolio (added this quarter); held since Q3 2024
  11. SpaceX (SPCX): $267.3M, 1.6M shares, 0.01% of the company, 0.73% of its portfolio
  12. Synopsys (SNPS): $195.8M, 438,900 shares, 0.23% of the company, 0.53% of its portfolio (added this quarter); held since Q3 2024
  13. Apple (AAPL): $182.6M, 631,092 shares, 0.00% of the company, 0.50% of its portfolio (trimmed this quarter); held since Q2 2022
  14. Adobe (ADBE): $136.5M, 665,580 shares, 0.17% of the company, 0.37% of its portfolio (added this quarter); held since Q1 2023
  15. Bloom Energy (BE): $127.5M, 421,220 shares, 0.14% of the company, 0.35% of its portfolio (added this quarter); held since Q1 2026

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