Portfolio (Quarterly) Guide ↗

Hudson Bay Capital Management LP

· CIK 0001393825

13F Portfolio $30.3B AUM 1,279 positions Filed Feb 13, 2026 EDGAR ↗ ← All Funds

Q4 2025 Q3 2025 · All 448 New 268 Added 279 Reduced 486 Exited

Page 15 of 25 · 486 positions

#	Ticker	Company	Sector	Shares	Value ↓	% Port	Status
281	APLE CALL	APPLE HOSPITALITY REIT INC	Real Estate	152,500	$1.8M	0.01%	SOLD
282	—	DAVE INC	—	9,162	$1.8M	0.01%	SOLD
283	CLW	CLEARWATER PAPER CORP	Basic Materials	85,929	$1.8M	0.01%	SOLD
284	ATO	ATMOS ENERGY CORP	Utilities	10,090	$1.7M	0.01%	SOLD
285	PTRN	PATTERN GROUP INC	Technology	120,343	$1.6M	0.01%	SOLD
286	—	LEIDOS HOLDINGS INC	—	8,579	$1.6M	0.01%	SOLD
287	LRMR CALL	LARIMAR THERAPEUTICS INC	Healthcare	498,200	$1.6M	0.01%	SOLD
288	—	INGERSOLL RAND INC	—	18,553	$1.5M	0.01%	SOLD
289	XLK	SELECT SECTOR SPDR TR	—	5,300	$1.5M	0.01%	SOLD
290	IMVT	IMMUNOVANT INC	Healthcare	92,500	$1.5M	0.01%	SOLD
291	MBX	MBX BIOSCIENCES INC	Healthcare	85,000	$1.5M	0.01%	SOLD
292	TMHC CALL	TAYLOR MORRISON HOME CORP	Consumer Cyclical	22,400	$1.5M	0.01%	SOLD
293	BJRI PUT	BJS RESTAURANTS INC	Consumer Cyclical	47,500	$1.5M	0.01%	SOLD
294	SHAK CALL	SHAKE SHACK INC	Consumer Cyclical	15,400	$1.4M	0.01%	SOLD
295	MSTZ PUT	ETF OPPORTUNITIES TRUST	—	270,500	$1.4M	0.01%	SOLD
296	OC CALL	OWENS CORNING NEW	Industrials	10,000	$1.4M	0.01%	SOLD
297	TPH PUT	TRI POINTE HOMES INC	Consumer Cyclical	40,900	$1.4M	0.01%	SOLD
298	HUN PUT	HUNTSMAN CORP	Basic Materials	150,000	$1.3M	0.00%	SOLD
299	TPH CALL	TRI POINTE HOMES INC	Consumer Cyclical	38,900	$1.3M	0.00%	SOLD
300	KYMR	KYMERA THERAPEUTICS INC	Healthcare	23,134	$1.3M	0.00%	SOLD

Page 15 of 25 · 486 positions

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Sector Allocation

Technology 29.4%

Consumer Cyclical 14.2%

Financial Services 10.8%

Communication Services 10.2%

Healthcare 10.0%

Industrials 8.9%

Real Estate 5.7%

Consumer Defensive 4.3%

Utilities 3.3%

Energy 2.2%