Hudson Bay Capital Management Lp
SEC-registered
Private Fund Manager · Large ($10B–$100B)
CRD 155910
· SEC file 801-73536
· Stamford, CT
· WWW.HUDSONBAYCAPITAL.COM
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ADV data as of Jul 24, 2026
- Regulatory AUM
- $40.7B
- Discretionary
- $40.7B
- Clients
- 7
- Avg AUM / client
- $5.8B
- Accounts
- 7
- Employees
- 418
AUM over time
$2.0B
$40.7B
Dec 2011
Jul 2026
Annual snapshots from Form ADV filings · as of Jul 24, 2026
Investments (13F portfolio — 1,278 positions, $28,981,838,636)
13F period Mar 31, 2026| # | Issuer | Class | Value | Shares | % of 13F | % of AUM |
|---|---|---|---|---|---|---|
| 1 | Nvidia Corporation | COM | $2,337,883,274 | 13,405,294 | 8.07% | 5.74% |
| 2 | Tesla Inc | COM | $1,789,238,326 | 4,813,015 | 6.17% | 4.39% |
| 3 | Amazon Com Inc | COM | $1,669,241,771 | 8,014,797 | 5.76% | 4.1% |
| 4 | Apple Inc | COM | $1,138,632,642 | 4,486,515 | 3.93% | 2.8% |
| 5 | Palantir Technologies Inc | CL A | $1,090,988,276 | 7,458,219 | 3.76% | 2.68% |
| 6 | Netflix Inc. | COM | $1,060,613,247 | 11,030,819 | 3.66% | 2.61% |
| 7 | Ishares Tr | RUSSELL 2000 ETF | $1,017,469,600 | 4,102,700 | 3.51% | 2.5% |
| 8 | Advanced Micro Devices Inc | COM | $902,824,374 | 4,438,010 | 3.12% | 2.22% |
| 9 | State Str Spdr S&P 500 Etf T | TR UNIT | $835,390,995 | 1,284,545 | 2.88% | 2.05% |
| 10 | Berkshire Hathaway Inc Del | CL B NEW | $750,075,467 | 1,565,266 | 2.59% | 1.84% |
| 11 | Microsoft Corp | COM | $545,773,096 | 1,474,385 | 1.88% | 1.34% |
| 12 | Echostar Corp | NOTE 3.875%11/3 | $469,926,409 | 131,204,072 | 1.62% | 1.15% |
| 13 | Taiwan Semiconductor Manufac | SPONSORED ADS | $468,634,927 | 1,386,699 | 1.62% | 1.15% |
| 14 | Flagstar Bank National Assoc | COM NEW | $456,859,912 | 34,689,439 | 1.58% | 1.12% |
| 15 | Unitedhealth Group Inc | COM | $378,826,000 | 1,400,000 | 1.31% | 0.93% |
| 16 | Dollar Tree Inc | COM | $342,656,790 | 3,129,000 | 1.18% | 0.84% |
| 17 | Micron Technology Inc | COM | $337,863,649 | 1,000,070 | 1.17% | 0.83% |
| 18 | Broadcom Inc | COM | $309,510,619 | 1,000,002 | 1.07% | 0.76% |
| 19 | Electronic Arts Inc | COM | $282,500,009 | 1,385,687 | 0.97% | 0.69% |
| 20 | Pg&E Corp | NOTE 4.250%12/0 | $274,524,733 | 263,895,000 | 0.95% | 0.67% |
| 21 | Alibaba Group Hldg Ltd | NOTE 0.500% 6/0 | $270,231,822 | 194,500,000 | 0.93% | 0.66% |
| 22 | Transocean Inc | DEB 4.625% 9/3 | $265,853,583 | 131,243,000 | 0.92% | 0.65% |
| 23 | Oracle Corp | COM | $257,804,832 | 1,752,463 | 0.89% | 0.63% |
| 24 | Ishares Tr | IBOXX HI YD ETF | $253,796,400 | 3,190,000 | 0.88% | 0.62% |
| 25 | Spdr Gold Tr | GOLD SHS | $243,841,040 | 566,690 | 0.84% | 0.6% |
Top 25 of 1,278 positions from the manager's latest Form 13F · source filing (EDGAR) ↗. 13F covers long US-listed positions only. "% of AUM" is share of the firm's total regulatory AUM (Form ADV Item 5.F).
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 7 | $40.7B | 100.0% |
Private funds (8)
Reported in Form ADV Section 7.B.(1), filing of Dec 2024 · $34.5B combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Hudson Bay Master Fund Ltd. master | Hedge Fund | Cayman Islands | $30.1B | 3,164 |
| Hudson Bay Capital Structure Opportunities Master Fund Ltd. master | Hedge Fund | Cayman Islands | $885M | 23 |
| Hudson Bay Special Opportunities Master Fund B Lp master | Hedge Fund | Cayman Islands | $690M | 76 |
| Hudson Bay Special Opportunities Master Fund C Lp master | Hedge Fund | Delaware | $690M | 76 |
| Hb Special Opportunities Aiv I Lp | Hedge Fund | Delaware | $690M | 75 |
| Hudson Bay Special Opportunities Master Fund A Lp master | Hedge Fund | Cayman Islands | $690M | 76 |
| Hudson Bay Special Opportunities Master Fund D Lp master | Hedge Fund | Cayman Islands | $690M | 76 |
| Hudson Bay Spac Master Fund Lp master | Hedge Fund | Delaware | $1.4M | 19 |
Nonprofit clients
Charities that reported this firm as a top-paid contractor (investment services) on Form 990.
| Charity | Location | Period |
|---|---|---|
| West Virginia Univ Foundation Inc EIN 556017181 | Morgantown, WV | 06/30/2024 |
People (12)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Gerber, Sander, Ross | Chief Executive Officer And Chief Investment Officer | Jun 2005 (21y) | ≈ 12.5% – 37.5% via Gerber Ventures Llc | |
| Roth, Yoav | Senior Managing Director And Portfolio Manager | Jun 2005 (21y) | ≈ 7.5% – 25% via Yrhbcm Llc | |
| Winkler, Charles, Howard | Senior Partner/Advisor | Nov 2007 (19y) | ≈ 5% – 18.75% via Winco Group Llc | |
| Astrachan, Roy | Senior Managing Director And Portfolio Manager | Jan 2009 (18y) | ≈ 7.5% – 25% via Rahbcm Llc | |
| Black, Scott, Lawrence | Chief Legal Officer And Chief Compliance Officer | Oct 2010 (16y) | Less than 5% | |
| Sargen, Paul, Michael | Chief Risk Officer | Nov 2012 (14y) | Less than 5% | |
| Antonopoulos, George | Senior Managing Director And Portfolio Manager | Jan 2018 (9y) | ≈ 7.5% – 25% via Thealeka Llc | |
| Willis, Mark, Lawrence | General Counsel | Feb 2020 (7y) | Less than 5% | |
| Gerber, Tracy, Deborah | Member | May 2020 (6y) | ≈ 12.5% – 37.5% via Gerber Ventures Llc | |
| Winkler, Darlene, D | Member | Jan 2021 (6y) | ≈ 5% – 18.75% via Winco Group Llc | |
| Albee, Brendan, Dermott | Chief Operating Officer | May 2022 (4y) | Less than 5% | |
| Han, Edward, Jin | Chief Financial Officer | Oct 2024 (2y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Gerber Ventures Llc | Limited Partner | May 2020 | A | 25% – 50% |
| Yrhbcm Llc | Limited Partner | Jan 2021 | A | 10% – 25% |
| Thealeka Llc | Limited Partner | Jan 2021 | A | 10% – 25% |
| Winco Group Llc | Limited Partner | Jan 2021 | A | 10% – 25% |
| Rahbcm Llc | Limited Partner | Jan 2021 | A | 10% – 25% |
| Hudson Bay Capital Gp Llc | General Partner | Jun 2005 | A | Less than 5% |
Estimated effective ownership (look-through of filed bands):
- Gerber, Sander, Ross: 50% – 75% of Gerber Ventures Llc × 25% – 50% direct ≈ 12.5% – 37.5% of the firm
- Roth, Yoav: 75% – 100% of Yrhbcm Llc × 10% – 25% direct ≈ 7.5% – 25% of the firm
- Winkler, Charles, Howard: 50% – 75% of Winco Group Llc × 10% – 25% direct ≈ 5% – 18.75% of the firm
- Astrachan, Roy: 75% – 100% of Rahbcm Llc × 10% – 25% direct ≈ 7.5% – 25% of the firm
- Antonopoulos, George: 75% – 100% of Thealeka Llc × 10% – 25% direct ≈ 7.5% – 25% of the firm
- Gerber, Tracy, Deborah: 50% – 75% of Gerber Ventures Llc × 25% – 50% direct ≈ 12.5% – 37.5% of the firm
- Winkler, Darlene, D: 50% – 75% of Winco Group Llc × 10% – 25% direct ≈ 5% – 18.75% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (8, $34.5B gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Hudson Bay Master Fund Ltd. | Hedge Fund | $30.1B | $5.0M | 3,164 |
| Hudson Bay Capital Structure Opportunities Master Fund Ltd. | Hedge Fund | $885M | $5.0M | 23 |
| Hudson Bay Special Opportunities Master Fund B Lp | Hedge Fund | $690M | $10.0M | 76 |
| Hudson Bay Special Opportunities Master Fund C Lp | Hedge Fund | $690M | $10.0M | 76 |
| Hb Special Opportunities Aiv I Lp | Hedge Fund | $690M | $10.0M | 75 |
| Hudson Bay Special Opportunities Master Fund A Lp | Hedge Fund | $690M | $10.0M | 76 |
| Hudson Bay Special Opportunities Master Fund D Lp | Hedge Fund | $690M | $10.0M | 76 |
| Hudson Bay Spac Master Fund Lp | Hedge Fund | $1.4M | $1.0M | 19 |
From Form ADV Section 7.B private fund reporting.
Foundations & charities (1)
| Organization | Type | Assets | As of |
|---|---|---|---|
| West Virginia Univ Foundation Inc | Public charity | $3.0B | 06/30/2024 |
From IRS Form 990 investment-management-fee disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/30/2026 | 5.74 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for pooled investment vehicles
Custody
Firm reports having custody of client funds or securities (Item 9.A).
No custodian data reported or mined yet.
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Jul 24, 2026.
View current Form ADV (SEC/IAPD) ↗