Hudson Bay Capital Management portfolio

What changed this quarter

1188 positions with a change (272 new, 235 added to, 268 trimmed, 413 sold); also, 53 entered through an IPO, 30 exited through an acquisition or merger, 65 entered through a spin-off. 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Sandisk+3.6 ppof portfolioNew
  — → 3.6%
• Alphabet+3.4 ppof portfolioIncreased
  0.6% → 4.0%
• Taiwan Semiconductor Manufacturing+170%more sharesIncreased
  1.6% → 4.8%
• Apple−69%fewer sharesReduced
  3.5% → 0.9%
• Flagstar Bank, National Association−72%fewer sharesReduced
  3.1% → 0.8%
• Palantir Technologies+108%more sharesIncreased
  2.6% → 3.4%
• Advanced Micro Devices−58%fewer sharesReduced
  2.2% → 2.1%
• Amazon.com+40%more sharesIncreased
  4.1% → 5.1%
• NVIDIA−25%fewer sharesReduced
  6.1% → 4.1%
• Meta Platforms+869%more sharesIncreased
  0.2% → 1.5%
• UnitedHealth Group−64%fewer sharesReduced
  1.3% → 0.5%
• Synopsys+945%more sharesIncreased
  0.1% → 1.0%

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

• Amazon.comAMZN5.1%
• Taiwan Semiconductor ManufacturingTSM4.8%
• TeslaTSLA4.5%
• AlphabetGOOGL · GOOG4.2%
• NVIDIANVDA4.1%
• SandiskSNDK3.6%
• Palantir TechnologiesPLTR3.4%
• Berkshire HathawayBRK/B2.1%
• Advanced Micro DevicesAMD2.1%
• MicrosoftMSFT2.0%
• Meta PlatformsMETA1.5%
• IntelINTC1.4%
• Space Exploration TechnologiesSPCX1.4%
• NetflixNFLX1.1%
• SynopsysSNPS1.0%
• Vertex PharmaceuticalsVRTX1.0%
• Electronic ArtsEA1.0%
• AppleAAPL0.9%
• Norfolk SouthernNSC0.8%
• Dollar TreeDLTR0.8%
• Warner Bros. DiscoveryWBD0.8%
• Flagstar Bank, National AssociationFLG0.8%
• Abbott LaboratoriesABT0.8%
• AdobeADBE0.7%
• VisaV0.7%
• Intuitive SurgicalISRG0.7%
• Bloom EnergyBE0.7%
• Microchip TechnologyMCHP0.6%
• ShopifySHOP0.6%
• Eli LillyLLY0.6%
• Super Micro Computer(preferred)0.6%
• State Str Spdr S&P 500 ETF TSPY0.6%
• Arista NetworksANET0.5%
• UnitedHealth GroupUNH0.5%
• AmgenAMGN0.5%
• AbbVieABBV0.5%
• American Healthcare REITAHR0.5%
• Integer HoldingsITGR0.5%
• Core ScientificCORZ · CORZW0.5%
• Peabody EnergyBTU0.5%
• Home DepotHD0.4%
• Bank of Amer(preferred)0.4%
• Eos Energy EnterprisesEOSE0.4%
• Parker-hannifinPH0.4%
• BlackRockBLK0.4%
• Morgan StanleyMS0.4%
• WalmartWMT0.4%
• Webster FinancialWBS0.4%
• EntergyETR0.3%
• Northwestern Energy GroupNWE0.3%
• RokuROKU0.3%
• Wells FargoWFC0.3%
• PenumbraPEN0.3%
• American Electric PowerAEP0.3%
• Capital One FinancialCOF0.3%
• Monster BeverageMNST0.3%
• Chipotle Mexican GrillCMG0.3%
• NeogenNEOG0.3%
• United Airlines HoldingsUAL0.3%
• International Business MachinesIBM0.3%
• Sun CommunitiesSUI0.3%
• AirbnbABNB0.3%
• NNN ReitNNN0.3%
• TXNM EnergyTXNM0.3%
• BioMarin PharmaceuticalBMRN0.2%
• UDRUDR0.2%
• EchoStarECHO0.2%
• Alnylam PharmaceuticalsALNY0.2%
• Keel InfrastructureKEEL0.2%
• Digital Realty TrustDLR0.2%
• AutoZoneAZO0.2%
• NCR AtleosNATL0.2%
• KenvueKVUE0.2%
• FirstenergyFE0.2%
• Four Corners Property TrustFCPT0.2%
• Xcel EnergyXEL0.2%
• LPL Financial HoldingsLPLA0.2%
• Invesco QQQ Trust Series 1 ETFQQQ0.2%
• Cerebras SystemsCBRS0.2%
• AmerenAEE0.2%
• Howmet AerospaceHWM0.2%
• Omega Healthcare InvestorsOHI0.2%
• Acadia Realty TrustAKR0.2%
• JPMorgan ChaseJPM0.2%
• Invesco Senior Loan ETFBKLN0.2%
• Novo Nordisk A/sNVO0.2%
• Telephone and Data SystemsTDS0.2%
• EvergyEVRG0.2%
• TangerSKT0.2%
• Rexford Industrial RealtyREXR0.2%
• TeamsharesTMS0.2%
• Ishares Bitcoin Trust ETFIBIT0.2%
• Vistance NetworksVISN0.2%
• Boston ScientificBSX0.2%
• ConocoPhillipsCOP0.2%
• Brixmor Property GroupBRX0.2%
• RTXRTX0.2%