Hudson Bay Capital Management LP's Q4 2024 13F: 252 new positions, 190 exits
Form 13F-HR for the quarter ended Dec 31, 2024 · filed Feb 14, 2025 · 668 reported positions · accession 0002033916-25-000027
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Reduced | META PLATFORMS INC (META) | 5.0% | 0.2% | −4.7 pts | −1.04M sh | −95% |
| Reduced | ALPHABET INC (GOOG) | 2.1% | 0.0% | −2.1 pts | −1.56M sh | −99% |
| Reduced | NVIDIA CORPORATION (NVDA) | 10.4% | 8.3% | −2.1 pts | −2.13M sh | −20% |
| Reduced | BROADCOM INC (AVGO) | 1.8% | 0.2% | −1.6 pts | −1.19M sh | −92% |
| Exited | INVESCO QQQ TR (QQQ) | 1.7% | — | −1.7 pts | −433K sh | −100% |
| Increased | TESLA INC (TSLA) | 1.0% | 2.9% | +2.0 pts | +555K sh | +118% |
| New | UNITEDHEALTH GROUP INC (UNH) | — | 1.6% | +1.6 pts | +441K sh | new |
| Reduced | MICROSOFT CORP (MSFT) | 5.9% | 3.8% | −2.2 pts | −484K sh | −28% |
| Reduced | AMAZON COM INC (AMZN) | 5.0% | 3.8% | −1.1 pts | −912K sh | −27% |
| Reduced | TAIWAN SEMICONDUCTOR MFG LTD (TSM) | 2.6% | 1.4% | −1.2 pts | −862K sh | −46% |
| Increased | MICROSTRATEGY INC (MSTR) | 0.1% | 1.3% | +1.2 pts | +539K sh | +747% |
| New | ARM HOLDINGS PLC (ARM) | — | 1.1% | +1.1 pts | +1.2M sh | new |
| Increased | ELI LILLY & CO (LLY) | 0.6% | 1.5% | +0.9 pts | +187K sh | +234% |
| Increased | ISHARES TR (LQD) | 0.7% | 1.5% | +0.8 pts | +1.2M sh | +150% |
| New | COCA COLA CO (KO) | — | 0.9% | +0.9 pts | +2.02M sh | new |
| New | TEXAS INSTRS INC (TXN) | — | 0.9% | +0.9 pts | +665K sh | new |
| New | EXXON MOBIL CORP (XOM) | — | 0.8% | +0.8 pts | +1.1M sh | new |
| New | EQUINIX INC (EQIX) | — | 0.8% | +0.8 pts | +125K sh | new |
| Increased | PAYPAL HLDGS INC (PYPL) | 0.0% | 0.9% | +0.8 pts | +1.34M sh | +2430% |
| Reduced | COINBASE GLOBAL INC (COIN) | 1.6% | 1.2% | −0.4 pts | −452K sh | −39% |
| Reduced | ALPHABET INC (GOOGL) | 1.5% | 0.7% | −0.8 pts | −589K sh | −52% |
| New | MONGODB INC (MDB) | — | 0.8% | +0.8 pts | +469K sh | new |
| New | COGNIZANT TECHNOLOGY SOLUTIO (CTSH) | — | 0.7% | +0.7 pts | +1.35M sh | new |
| Increased | INTERNATIONAL BUSINESS MACHS (IBM) | 0.0% | 0.7% | +0.6 pts | +410K sh | +2231% |
| New | AFFIRM HLDGS INC (AFRM) | — | 0.6% | +0.6 pts | +1.43M sh | new |
| New | FLUTTER ENTMT PLC (FLUT) | — | 0.6% | +0.6 pts | +330K sh | new |
| Increased | RTX CORPORATION (RTX) | 0.0% | 0.6% | +0.6 pts | +693K sh | +2771% |
| Exited | CATALENT INC (CTLT) | 0.5% | — | −0.5 pts | −1.12M sh | −100% |
| New | UBER TECHNOLOGIES INC (UBER) | — | 0.5% | +0.5 pts | +1.25M sh | new |
| New | ROBINHOOD MKTS INC (HOOD) | — | 0.5% | +0.5 pts | +2M sh | new |
| Reduced | APPLE INC (AAPL) | 4.4% | 3.7% | −0.7 pts | −294K sh | −13% |
| Increased | TARGET CORP (TGT) | 0.0% | 0.5% | +0.5 pts | +505K sh | +1763% |
| Exited | THE CIGNA GROUP (CI) | 0.5% | — | −0.5 pts | −175K sh | −100% |
| New | QUALCOMM INC (QCOM) | — | 0.5% | +0.5 pts | +414K sh | new |
| New | MICROCHIP TECHNOLOGY INC. (MCHP) | — | 0.5% | +0.5 pts | +1.1M sh | new |
| Reduced | HONEYWELL INTL INC (HON) | 0.7% | 0.3% | −0.5 pts | −275K sh | −61% |
| Reduced | SPDR S&P 500 ETF TR (SPY) | 0.7% | 0.2% | −0.5 pts | −105K sh | −69% |
| Reduced | BOEING CO (BA) | 0.8% | 0.4% | −0.4 pts | −330K sh | −49% |
| New | SERVICENOW INC (NOW) | — | 0.4% | +0.4 pts | +54,564 sh | new |
| Increased | BANK AMERICA CORP (BAC) | 0.2% | 0.6% | +0.4 pts | +1.3M sh | +208% |
| Reduced | MICRON TECHNOLOGY INC (MU) | 1.3% | 0.5% | −0.7 pts | −674K sh | −44% |
| Exited | AUTOMATIC DATA PROCESSING IN (ADP) | 0.4% | — | −0.4 pts | −181K sh | −100% |
| Increased | MSCI INC (MSCI) | 0.1% | 0.5% | +0.4 pts | +92,536 sh | +526% |
| Reduced | JOHNSON & JOHNSON (JNJ) | 0.7% | 0.2% | −0.5 pts | −370K sh | −67% |
| New | ASML HOLDING N V (ASML) | — | 0.4% | +0.4 pts | +76,837 sh | new |
| New | LULULEMON ATHLETICA INC (LULU) | — | 0.4% | +0.4 pts | +135K sh | new |
| Reduced | ADVANCED MICRO DEVICES INC (AMD) | 4.1% | 2.3% | −1.7 pts | −425K sh | −14% |
| Increased | HESS CORP (HES) | 1.4% | 1.6% | +0.2 pts | +386K sh | +30% |
| Increased | HENRY SCHEIN INC (HSIC) | 0.4% | 0.7% | +0.3 pts | +740K sh | +102% |
| Increased | DISNEY WALT CO (DIS) | 0.3% | 0.6% | +0.4 pts | +444K sh | +125% |
The 50 largest of 785 changes, by size of the trade. Full holdings for this quarter.
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
† Security identifier (CUSIP) changed — read as one continuing position, not an exit and a new position:
- APTIV PLC (APTV): G6095L109 → G3265R107, 171K → 412K shares (share count changed with the identifier; not shown as a trade)
- SUPER MICRO COMPUTER INC (SMCI): 86800U104 → 86800U302, 50,000 → 1M shares (share count changed with the identifier; not shown as a trade)
Top 10 positions — 32.1% of the equity book
Changes in the top 10 this quarter: TSLA entered · BRK-B entered · UNH entered · HES entered · META left · TSM left · GOOG left · AVGO left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | NVIDIA CORPORATION (NVDA) | 10.4% | 8.3% | |
| 2 | AMAZON COM INC (AMZN) | 5.0% | 3.8% | |
| 3 | MICROSOFT CORP (MSFT) | 5.9% | 3.8% | |
| 4 | APPLE INC (AAPL) | 4.4% | 3.7% | |
| 5 | TESLA INC (TSLA) | 1.0% | 2.9% | Entered the top 10 |
| 6 | FLAGSTAR FINANCIAL INC (FLG) | 3.7% | 2.5% | |
| 7 | ADVANCED MICRO DEVICES INC (AMD) | 4.1% | 2.3% | |
| 8 | BERKSHIRE HATHAWAY INC DEL (BRK-B) | 1.8% | 1.7% | Entered the top 10 |
| 9 | UNITEDHEALTH GROUP INC (UNH) | 0.0% | 1.6% | Entered the top 10 |
| 10 | HESS CORP (HES) | 1.4% | 1.6% | Entered the top 10 |
| — | META PLATFORMS INC (META) | 5.0% | 0.2% | Left the top 10 |
| — | TAIWAN SEMICONDUCTOR MFG LTD (TSM) | 2.6% | 1.4% | Left the top 10 |
| — | ALPHABET INC (GOOG) | 2.1% | 0.0% | Left the top 10 |
| — | BROADCOM INC (AVGO) | 1.8% | 0.2% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).
Option positions (puts and calls)
Reported separately from the positions above. The value a 13F reports for an option is that of the underlying shares, not the option itself.
| Activity | Security | Type | Shares before | Shares now | Reported value |
|---|---|---|---|---|---|
| Reduced | MICROSOFT CORP (MSFT) | Put | 1.8M | 460K | $194M |
| Increased | TESLA INC (TSLA) | Put | 538K | 1.61M | $648M |
| Reduced | META PLATFORMS INC (META) | Put | 1.05M | 370K | $217M |
| Increased | INVESCO QQQ TR (QQQ) | Put | 138K | 825K | $422M |
| Exited | ALPHABET INC (GOOG) | Put | 1.56M | 0 | $0 |
| Increased | TESLA INC (TSLA) | Call | 170K | 734K | $296M |
| Reduced | BROADCOM INC (AVGO) | Put | 1.34M | 100K | $23.2M |
| New | UNITEDHEALTH GROUP INC (UNH) | Put | 0 | 395K | $200M |
| Exited | SPDR S&P 500 ETF TR (SPY) | Call | 330K | 0 | $0 |
| New | ARM HOLDINGS PLC (ARM) | Put | 0 | 1.5M | $185M |
| Reduced | ALPHABET INC (GOOGL) | Put | 1.35M | 250K | $47.3M |
| Increased | ELI LILLY & CO (LLY) | Put | 80,000 | 320K | $247M |
| New | MICROSTRATEGY INC (MSTR) | Put | 0 | 575K | $167M |
| Reduced | ADVANCED MICRO DEVICES INC (AMD) | Put | 3.11M | 2.9M | $350M |
| Increased | EXXON MOBIL CORP (XOM) | Put | 313K | 1.81M | $195M |
| Reduced | APPLE INC (AAPL) | Put | 2.4M | 1.63M | $407M |
| Increased | SPDR S&P 500 ETF TR (SPY) | Put | 1.14M | 1.34M | $783M |
| Exited | ORACLE CORP (ORCL) | Call | 767K | 0 | $0 |
| Increased | ISHARES TR (IWM) | Put | 204K | 775K | $171M |
| New | PAYPAL HLDGS INC (PYPL) | Put | 0 | 1.4M | $119M |
| New | EQUINIX INC (EQIX) | Put | 0 | 125K | $118M |
| New | COCA COLA CO (KO) | Put | 0 | 1.85M | $115M |
| Reduced | TAIWAN SEMICONDUCTOR MFG LTD (TSM) | Put | 1.66M | 880K | $174M |
| New | MONGODB INC (MDB) | Put | 0 | 460K | $107M |
| New | COGNIZANT TECHNOLOGY SOLUTIO (CTSH) | Put | 0 | 1.35M | $104M |