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 6 of 25 · 486 positions

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#	Ticker	Company	Sector	Shares	Value ↓	% Port	Status
101	CCI PUT	CROWN CASTLE INC	Real Estate	104,100	$10.0M	0.03%	SOLD
102	—	STRIVE INC	—	7,407,407	$10.0M	0.03%	SOLD
103	WYNN	WYNN RESORTS LTD	Consumer Cyclical	77,704	$10.0M	0.03%	SOLD
104	—	FIRSTENERGY CORP	—	9,500,000	$9.9M	0.03%	SOLD
105	NTRS	NORTHERN TR CORP	Financial Services	73,026	$9.8M	0.03%	SOLD
106	ARES	ARES MANAGEMENT CORPORATION	Financial Services	60,717	$9.7M	0.03%	SOLD
107	CBOE	CBOE GLOBAL MKTS INC	Financial Services	39,130	$9.6M	0.03%	SOLD
108	TER	TERADYNE INC	Technology	69,182	$9.5M	0.03%	SOLD
109	CCI	CROWN CASTLE INC	Real Estate	98,032	$9.5M	0.03%	SOLD
110	FRT	FEDERAL RLTY INVT TR NEW	Real Estate	93,076	$9.4M	0.03%	SOLD
111	SAIA	SAIA INC	Industrials	31,364	$9.4M	0.03%	SOLD
112	VRSK	VERISK ANALYTICS INC	Industrials	37,270	$9.4M	0.03%	SOLD
113	ZONE	CLEANCORE SOLUTIONS INC	Industrials	5,000,000	$9.3M	0.03%	SOLD
114	GEV	GE VERNOVA INC	Utilities	15,130	$9.3M	0.03%	SOLD
115	BHF CALL	BRIGHTHOUSE FINL INC	Financial Services	172,700	$9.2M	0.03%	SOLD
116	—	GSR IV ACQUISITION CORP	—	900,000	$9.1M	0.03%	SOLD
117	CME	CME GROUP INC	Financial Services	33,554	$9.1M	0.03%	SOLD
118	UTHR	UNITED THERAPEUTICS CORP DEL	Healthcare	21,524	$9.0M	0.03%	SOLD
119	BMY CALL	BRISTOL-MYERS SQUIBB CO	Healthcare	199,900	$9.0M	0.03%	SOLD
120	BBY	BEST BUY INC	Consumer Cyclical	117,179	$8.9M	0.03%	SOLD

Page 6 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%