HBK Investments portfolio

Investment firm

Portfolio as of Jun 30, 2026 (Q2 2026) · filed with the SEC on Aug 14, 2026 · data updated on Nov 5, 2026 · Q2 2026 13F (filing) ↗ · amendment (replaces the original) of Sep 16, 2026 ↗ · all its 13F filings ↗

A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.

HBK Investments reported a $7.8 bn portfolio of 142 companies (173 positions, counting each share class separately) to the SEC as of the end of Q2 2026. Its largest positions are BLD, EA, PEN. During the quarter it opened TopBuild and Bio-techne.

Stock portfolio

$7.8 bn

Companies

142

173 positions (by CUSIP)Top 10: 69%

Turnover

52%

Copying its 13F, 5 years

—

Not calculated: not counted as a concentrated manager

Sections with a free account

What it reported after the quarter end (Q2 2026)

The 13F shows the portfolio as of Jun 30, 2026. Since then HBK Investments has filed these own trades with the SEC (Form 4, when it owns more than 10% of a company or holds a role in it) and stakes above 5% (13D and 13G). It is not everything it did: only what it must report before the next 13F.

13GTopBuildBLD0 %
Stake reported in the company · event of Jun 30, 2026 · filed Aug 14, 2026 · filing ↗

What changed this quarter

142 positions with a change (28 new, 17 added to, 28 trimmed, 69 sold); also, 9 entered through an IPO, 10 exited through an acquisition or merger, 21 entered through a spin-off. 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).

Newly listedDPC HoldingsDPC0.8% of the portfolio
Newly listedSpace Exploration TechnologiesSPCX0.5% of the portfolio

It started trading this quarter: it appears in a 13F for the first time. The filing does not say whether the manager already held it before the listing, so it is not counted as a purchase.

TopBuild+11.9 ppof portfolioNew
— → 11.9%
Bio-techne+6.1 ppof portfolioNew
— → 6.1%
Nuvalent+5.5 ppof portfolioNew
— → 5.5%
Apogee Therapeutics+4.8 ppof portfolioNew
— → 4.8%
Teck Resources+264%more sharesIncreased
1.1% → 4.4%
Chart Industries+160%more sharesIncreased
1.9% → 4.8%
Silicon Laboratories+2.8 ppof portfolioNew
— → 2.8%
Roku+2.1 ppof portfolioNew
— → 2.1%
AES+2.1 ppof portfolioNew
— → 2.1%
TXNM Energy−84%fewer sharesReduced
2.4% → 0.4%
Kenvue+33%more sharesIncreased
4.9% → 6.8%
Valaris+1.5 ppof portfolioNew
— → 1.5%

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight: what it bought or sold, excluding price effects.

Top holdings

TopBuildBLD11.9%
Electronic ArtsEA8.3%
PenumbraPEN7.4%
Norfolk SouthernNSC7.0%
KenvueKVUE6.8%
Warner Bros. DiscoveryWBD6.4%
Bio-techneTECH6.1%
Nuvalent5.5%
Apogee Therapeutics4.8%
Chart Industries4.8%
TECK ResourcesTECK4.4%
Janus Henderson GroupJHG3.4%
Silicon LaboratoriesSLAB2.8%
RokuROKU2.1%
AESAES2.1%
Liberty BroadbandLBRDK1.9%
ValarisVAL1.5%
Catalyst Pharmaceuticals1.1%
DPC HoldingsDPC0.8%
Hewlett Packard Enterprise C(preferred)0.5%
Space Exploration TechnologiesSPCX0.5%
ARK 21shares Bitcoin ETFARKB0.5%
Cooper CompaniesCOO0.4%
Concentra Group Holdings ParentCON0.4%
SolventumSOLV0.4%
NewsNWSA0.4%
TXNM EnergyTXNM0.4%
UBER TechnologiesUBER0.3%
Sirius XM HoldingsSIRI0.3%
ComcastCMCSA0.3%
TripadvisorTRIP0.3%
MattelMAT0.2%
Nextera Energy(preferred)0.2%
GameStopGME0.2%
Fidelity Ethereum FundFETH0.2%
QuantinuumQNT0.2%
Integer HoldingsITGR0.2%
VersigentVGNT0.2%
Digital Realty TrustDLR0.2%
MedlineMDLN0.2%
STE Str SPDR PT S&P 500 ETFSPYM0.2%
Atlanta Braves HoldingsBATRK0.1%
Viavi SolutionsVIAV0.1%
FluorFLR0.1%
IMAXIMAX0.1%
Fortress Value Acquisition Corp. VFVAV0.1%
KPET Ultra PacelineKPET0.1%
Pershing Square USAPSUS0.1%
Averin Capital AcquisitionACAA0.1%
Gores Holdings XIGHXIU(unit)0.1%
Jena Acquisition Corporation IIJENA0.1%
General Catalyst Global Resilience MergerGCGR0.1%
KRAKacquisitionKRAQ0.1%
FMCFMC0.1%
Alphabet(preferred)0.1%
RMG ML Sports HoldingsSHOTU(unit)0.1%
Liftoff MobileLFTO0.1%
InnioINIO0.1%
CH4 Natural SolutionsMTNE0.1%
DatadogDDOG0.1%
Honeywell AerospaceHONA0.1%
Pg&e(preferred)0.1%
Artius II Acquisition0.1%
Gores Holdings XGTEN0.1%
Super Micro Computer(preferred)0.1%
Colombier Acquisition Corp. IIICLBR0.1%
Oneim AcquisitionOIM0.1%
Drugs Made In America Acquisition IIDMII0.1%
Alussa Energy Acquisition Corp. IIALUB0.1%
American Drive AcquisitionADAC0.1%
Snow Rothschild AcquisitionISNRU(unit)0.1%
Bold Eagle AcquisitionBEAG0.1%
Cantor Equity Partners IVCEPF0.1%
Infinite Eagle AcquisitionIEAG0.1%
Lifeway FoodsLWAY0.1%
American Exceptionalism Acquisition Corp. AAEXA0.1%
Karbon Capital PartnersKBON0.1%
Wilco 63WLCOU(unit)0.1%
Bob's Discount FurnitureBOBS0.1%
PPL(preferred)under 0.1%
Perimeter Acquisition Corp. IPMTRunder 0.1%
Silverbox Corp VSBXEunder 0.1%
Irenic AcquisitionIACQunder 0.1%
Honeywell InternationalHONunder 0.1%
Churchill Capital Corp XIICXIIunder 0.1%
Entrepreneurshares Series TrXOVRunder 0.1%
Churchill Capital Corp XICCXIunder 0.1%
Siddhi AcquisitionSDHIunder 0.1%
GMR SolutionsGMRSunder 0.1%
Futurecrest AcquisitionFCRSunder 0.1%
Solarius Capital AcquisitionSOCAunder 0.1%
Archer AviationACHRunder 0.1%
Cantor Equity Partners VIICAESunder 0.1%
Long Table GrowthLTGRU(unit)under 0.1%
1rt AcquisitionONCHunder 0.1%
Pyrophyte Acquisition Corp. IIPAIIunder 0.1%
Tetra TechTTEKunder 0.1%
Highview MergerHVMCunder 0.1%
HCM IV AcquisitionHACQunder 0.1%

“Since”: first quarter of the current run, unbroken until today. In the details, prices are the quarter-end prices of the quarters in which it added shares, per the 13F. The manager may have bought at any price within each quarter; the SEC only publishes the value at quarter end.

Portfolio by sector

● Health Care 27%
● Industrials 25%
● Communication Services 20%
● Consumer Staples 7%
● Materials 5%
● Financials 3%
● Information Technology 3%
● SPAC / vehículos 2%
● Utilities 2%
● No sector 2%
● Energy 1%
● Consumer Discretionary 1%

How its portfolio changed (8 quarters)

Positions

Q2 2026: 173

1940

Q3 2024Q2 2026

Top 10 weight

Q2 2026: 69%

83%65%

Q3 2024Q2 2026

Traded turnover

Q2 2026: 28.9%

47.3%0

Q3 2024Q2 2026

Traded turnover: the weight it bought plus the weight it sold in the quarter, divided by two, excluding price moves. The plain “turnover” in the header does include that effect. With a free account: the full history and sectors over time.

13F filings with amendments or confidential positions

13F Q2 2026 ↗filed Aug 14, 2026Amendment of Sep 16, 2026 (replaces the original) ↗
13F Q3 2025 ↗filed Nov 14, 2025Amendment of Sep 16, 2026 (adds holdings) ↗1 position known later through an amendment, worth $4.2M: they could not be copied when the 13F was published.
13F Q2 2025 ↗filed Aug 13, 2025Omitted positions (confidential)Amendment of Aug 14, 2026 (adds holdings) ↗13 positions known later through an amendment, worth $2.9 bn: they could not be copied when the 13F was published.
13F Q1 2025 ↗filed May 15, 2025Omitted positions (confidential)Amendment of May 15, 2026 (adds holdings) ↗13 positions known later through an amendment, worth $3.3 bn: they could not be copied when the 13F was published.
13F Q4 2024 ↗filed Feb 14, 2025Omitted positions (confidential)Amendment of Feb 17, 2026 (adds holdings) ↗11 positions known later through an amendment, worth $2.3 bn: they could not be copied when the 13F was published.
13F Q3 2024 ↗filed Nov 14, 2024Omitted positions (confidential)Amendment of Nov 14, 2025 (adds holdings) ↗Amendment of Aug 14, 2026 (adds holdings) ↗17 positions known later through an amendment, worth $2.8 bn: they could not be copied when the 13F was published.

Declared options (25)

Besides stocks, HBK Investments declared 21 puts (they gain if the stock falls) and 4 calls (they gain if it rises) with a notional of $1.7 bn. The 13F reports the value of the underlying shares, not the premium paid, so these figures look large and are not added to the portfolio. Nor does it say whether the option is bought or written, or its strike or expiry: it may be a hedge.

PUTState Str Spdr S&P 500 ETF TSPY$349M
PUTInvesco QQQ Trust Series 1 ETFQQQ$226M
PUTNVIDIANVDA$206M
CALLState Str Spdr S&P 500 ETF TSPYnew this quarter$188M
PUTiShares Russell 2000 ETFIWM$160M
PUTNebius GroupNBIS$110M
PUTVanguard Mrngstr Val ETF-aui ETFVTVnew this quarter$35.3M
CALLSirius XM HoldingsSIRI$22.8M
PUTTeslaTSLA$22.2M
PUTHowmet AerospaceHWM$22.0M
PUTiShares Russell 2000 Growth ETFIWO$19.7M
PUTGameStopGME$18.1M

Stakes above 5% (13D/13G)

Companies where this filer reported holding 5% or more of the shares. It is the figure from its latest filing on each one; history since December 2024.

How we classify it

Investment firm, per its Form ADV of Jun 30, 2026 (high confidence).

The data, as reported: HBK CAPITAL MANAGEMENT (CRD 115079): 7.B private funds: 3 hedge, 1 pe (gross assets $32.8 bn); 5.D assets by client type: pooled vehicles 95% (of $35.6 bn)

The type comes from a rule applied to that data. If it looks wrong, tell us.

Not counted as a concentrated manager: its portfolio is not within 5 to 100 positions; it turns over more than 50% of the portfolio per quarter. Its portfolio is shown all the same, but it is left out of manager counts, the consensus and the ranking. How this is decided

Similar managers by type and size

Same type of filer and a 13F portfolio value between a third and three times this one. It is not a comparison of what they hold.

Lyrical Asset ManagementInvestment firm · $7.9 bn
Greenhaven AssociatesInvestment firm · $8.0 bn
First Pacific AdvisorsInvestment firm · $8.0 bn
Carmignac GestionInvestment firm · $7.7 bn
Deerfield ManagementInvestment firm · $8.0 bn
Peconic PartnersInvestment firm · $7.5 bn

What it reported after the quarter end (Q2 2026)

What changed this quarter

Top holdings

Portfolio by sector

How its portfolio changed (8 quarters)

13F filings with amendments or confidential positions

Declared options (25)

Stakes above 5% (13D/13G)

Similar managers by type and size

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