SEC 13F Intelligence

Managers / Q3 2021 · view latest →

Hudson Bay Capital Management LP

CIK 0001393825 · 290 HARBOR DR, 3RD FLOOR, STAMFORD, CT, 06902 · 212-571-1244

Reported Value
$7.4B
Q3 2021
Positions
991
Filings on Record
37
2019–present window
Filed
Nov 15, 2021
original filing

Summary

Hudson Bay Capital Management LP reported $7.4B in U.S.-listed holdings across 991 positions for Q3 2021.

Its largest position, Dexcom, represents 3.6% of the portfolio.

Compared with Q2 2021, the fund opened 260 new positions and exited 238.

Portfolio Metrics

Turnover
+28.7%
vs prior filed quarter
Top-10 Concentration
+22.2%
share of reported value
Largest Position
+3.6%
Dexcom
New / Exited
260 / 238
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $7.5BQ4 ’18Q1 ’19: $7.8BQ2 ’19: $4.4BQ3 ’19: $3.6BQ4 ’19: $4.5BQ4 ’19Q1 ’20: $4.0BQ2 ’20: $5.7BQ3 ’20: $6.7BQ4 ’20: $9.3BQ4 ’20Q1 ’21: $8.1BQ2 ’21: $8.3BQ3 ’21: $7.4BQ4 ’21: $9.8BQ4 ’21Q1 ’22: $7.4BQ2 ’22: $13.2BQ3 ’22: $11.3BQ4 ’22: $9.8BQ4 ’22Q1 ’23: $22.9BQ2 ’23: $13.8BQ3 ’23: $12.7BQ4 ’23: $15.8BQ4 ’23Q1 ’24: $18.0BQ2 ’24: $21.3BQ3 ’24: $24.7BQ4 ’24: $28.4BQ4 ’24Q1 ’25: $32.4BQ2 ’25: $29.4BQ3 ’25: $30.1BQ4 ’25: $30.3BQ4 ’25Q1 ’26: $29.0Bfilingsflow.com

Portfolio Composition

By security type
Other: 37.9%Common Stock: 30.6%US DOMESTIC: 22.6%ADR: 3.1%GLOBAL: 2.7%Other: 3.1%
  • Other · 37.9% · $2.8B
  • Common Stock · 30.6% · $2.3B
  • US DOMESTIC · 22.6% · $1.7B
  • ADR · 3.1% · $227M
  • GLOBAL · 2.7% · $198M
  • Other · 3.1% · $232M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ROYAL CARIBBEAN GROUPNEW+71.92M71.92M+$101M$101M
MIC2USDMACQUARIE INFRASTR HOLD LLCNEW+1.92M1.92M+$78M$78M
ISHARES TRNEW+850.0K850.0K+$74M$74M
ANTERO RESOURCES CORPNEW+12.63M12.63M+$56M$56M
DICKS SPORTING GOODS INCNEW+13.47M13.47M+$49M$49M
PERSHING SQUARE TONTINE HLDGNEW+1.62M1.62M+$32M$32M
ZENDESK INCNEW+16.78M16.78M+$31M$31M
VOLTA INCNEW+3.63M3.63M+$31M$31M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2021

40 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1IHS MARKIT LTDSHS4.26%$316M2.71M
2DEXCOM INCNOTE 0.750%12/03.57%$265M79.60M
3SNAP INCNOTE 0.750% 8/02.92%$216M66.23M
4TRANSOCEAN INCDEB 4.000%12/1 · DEB 0.500% 1/32.47%$183M185.27M
5LBRDKLIBERTY BROADBAND CORPCOM SER C · COM SER A2.39%$177M1.03M
6ISTAR INCNOTE 3.125% 9/12.31%$171M94.04M
7NABORS INDS INC NEWNOTE 0.750% 1/12.07%$154M172.00M
8NUANEURNUANCE COMMUNICATIONS INChistory →COM1.90%$141M2.56M
9EQT CORPNOTE 1.750% 5/01.84%$136M86.14M
10SQUARE INCNOTE 0.500% 5/11.67%$124M40.19M
11PENN NATL GAMING INCNOTE 2.750% 5/11.63%$121M37.89M
12ROYAL CARIBBEAN GROUPNOTE 4.250% 6/11.37%$101M71.92M
13XLNXEURXILINX INChistory →COM1.30%$96M637.1K
14LEGNLEGEND BIOTECH CORPhistory →SPONSORED ADS1.28%$95M1.88M
15MIC2USDMACQUARIE INFRASTR HOLD LLChistory →COMMON UNITS1.05%$78M1.92M
16KSUEURKANSAS CITY SOUTHERNhistory →COM NEW0.99%$73M271.5K
17MERITOR INCNOTE 3.250%10/10.89%$66M62.72M
18CNX RES CORPNOTE 2.250% 5/00.84%$62M49.67M
19ANTERO RESOURCES CORPNOTE 4.250% 9/00.76%$56M12.63M
20ZLABZAI LAB LTDhistory →ADR0.75%$56M530.7K
21DELLDELL TECHNOLOGIES INChistory →CL C0.73%$54M521.4K
22VINCO VENTURES INCCOM0.68%$50M8.81M
23DICKS SPORTING GOODS INCNOTE 3.250% 4/10.67%$49M13.47M
24WILLIS TOWERS WATSON PLC LTDSHS0.66%$49M209.4K
25ENVIRONMENTAL IMPACT ACQU COCOM CL A0.50%$37M4.11M
26LIBERTY MEDIA CORP DELCOM C SIRIUSXM0.49%$36M768.3K
27ATERIAN INCCOM0.47%$35M3.35M
28PPD INCCOM0.46%$34M735.1K
29PERSHING SQUARE TONTINE HLDGCOM CL A0.43%$32M1.62M
30ZENDESK INCNOTE 0.250% 3/10.42%$31M16.78M
31SLMSLM CORPhistory →COM0.40%$30M1.70M
32NCL CORP LTDNOTE 6.000% 5/10.39%$29M13.50M
33INFLECTION POINT ACQUSTN CORUNIT 09/21/20260.39%$29M2.90M
34VOLTA INCCOM CL A0.38%$29M3.39M
35CNXXCONX CORPhistory →COM CL A0.34%$25M2.55M
36DIGITAL WORLD ACQUISITION COUNIT 06/30/20280.33%$25M2.42M
37CLEVELAND-CLIFFS INC NEWDBCV 1.500% 1/10.33%$24M9.50M
38SCVX CORPCOM0.32%$24M2.37M
39APOLLO STRATEGIC GROWTH CAPTSHS CL A0.31%$23M2.37M
40TRGPTARGA RES CORPhistory →COM0.29%$22M443.8K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$29.0B1,607May 13, 202613F-HRchanges · EDGAR ↗
Q4 2025$30.3B1,279Feb 13, 202613F-HRchanges · EDGAR ↗
Q3 2025$30.1B1,518Nov 13, 202513F-HRchanges · EDGAR ↗
Q2 2025$29.4B1,443Aug 18, 2025RESTATEMENTchanges · EDGAR ↗
Q1 2025$32.4B1,339May 14, 202513F-HRchanges · EDGAR ↗
Q4 2024$28.4B946Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$24.7B865Nov 13, 202413F-HRchanges · EDGAR ↗
Q2 2024$21.3B787Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$18.0B739May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$15.8B712Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$12.7B798Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$13.8B851Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023REVEALED$22.9B1,670May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$9.8B986Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$11.3B1,231Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$13.2B1,329Aug 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$7.4B1,186May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$9.8B1,085Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$7.4B991Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$8.3B951Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$8.1B860May 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$9.3B588Feb 12, 202113F-HRchanges · EDGAR ↗
Q3 2020$6.7B546Nov 12, 202013F-HRchanges · EDGAR ↗
Q2 2020$5.7B493Aug 12, 202013F-HRchanges · EDGAR ↗
Q1 2020$4.0B494May 14, 202013F-HRchanges · EDGAR ↗
Q4 2019$4.5B422Feb 12, 202013F-HRchanges · EDGAR ↗
Q3 2019$3.6B394Nov 13, 201913F-HRchanges · EDGAR ↗
Q2 2019$4.4B403Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$7.8B674May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$7.5B759Feb 13, 2019RESTATEMENTchanges · EDGAR ↗

Other Included Managers

This filing reports holdings on behalf of 1 additional manager.

  • MIRABELLA FINANCIAL SERVICES LLP028-20053

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.