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HBK INVESTMENTS L P

Q4 2025 · Filed 2026-02-17
Market Value
$8.3B
+45.3%
Holdings
135
+13
New Purchases
48
Added To
19
Closed
40
Reduced
17
Top 10 Concentration
67.4%
Turnover
65.2%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
EXAS 9.41% 0.00% +9.41% $777M
HOLX 7.58% 0.00% +7.58% $626M
CFLT 5.50% 0.00% +5.50% $454M
EA 4.73% 0.00% +4.73% $390M
CMA 4.19% 0.00% +4.19% $346M
RNAM 3.82% 0.00% +3.82% $315M
CDTX 3.37% 0.00% +3.37% $278M
FOLD 2.63% 0.00% +2.63% $217M
WBD 3.12% 0.60% +2.52% $257M
SNV 2.30% 0.00% +2.30% $189M
BHF 1.65% 0.00% +1.65% $136M
DAY 6.58% 5.22% +1.36% $543M
FYBR 3.60% 2.32% +1.28% $297M
TXNM 1.21% 0.00% +1.21% $100M
NSC 7.45% 6.72% +0.74% $615M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
VRNA 0.00% 8.01% -8.01% $0
CYBR 13.25% 19.99% -6.75% $1.1B
INFA 0.00% 5.67% -5.67% $0
IPG 0.00% 5.20% -5.20% $0
MRUS 0.00% 4.72% -4.72% $0
COOP 0.00% 3.57% -3.57% $0
MTSR 0.00% 2.95% -2.95% $0
K 0.00% 2.89% -2.89% $0
LBRDK 3.48% 6.35% -2.87% $287M
GTLS 4.92% 7.50% -2.58% $406M
SCS 0.00% 1.68% -1.68% $0
ARKB 0.69% 2.18% -1.48% $57M
SPNS 0.00% 1.48% -1.48% $0
VRNT 0.00% 0.97% -0.97% $0
UBER 0.27% 0.86% -0.58% $23M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 2 $57M 0.7%
Large Cap 43 $5.6B 68.4%
Mid Cap 46 $2.4B 29.6%
Small Cap 27 $58M 0.7%
Micro Cap 17 $46M 0.6%

Portfolio Analytics

Avg Market Cap
$25.7B
Median Market Cap
$4.6B
Avg P/E
36.4
Median P/E
26.1
Avg Dividend Yield
0.01%
Avg Beta
1.31
# Stocks
123
# ETFs / Funds
12

Top Holdings (135 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 CYBR 13.25% 2,450,000 $1.1B $446.06 -$43M +100,000 +4.3%
2 EXAS 9.41% 7,646,637 $777M $101.56 +7,646,637 NEW
3 HOLX 7.58% 8,400,000 $626M $74.49 +8,400,000 NEW
4 NSC 7.45% 2,130,000 $615M $288.72 $233M +860,000 +67.7%
5 DAY 6.58% 7,850,000 $543M $69.16 $247M +3,550,000 +82.6%
6 CFLT 5.50% 15,000,000 $454M $30.24 +15,000,000 NEW
7 GTLS 4.92% 1,969,092 $406M $206.23 -$20M -158,783 -7.5%
8 EA 4.73% 1,909,982 $390M $204.33 +1,909,982 NEW
9 CMA 4.19% 3,975,000 $346M $86.93 +3,975,000 NEW
10 RNAM 3.82% 4,365,000 $315M $72.13 +4,365,000 NEW
11 FYBR 3.60% 7,800,000 $297M $38.07 $165M +4,275,000 +121.3%
12 AL 3.58% 4,602,260 $296M $64.23 $121M +1,852,260 +67.3%
13 LBRDK 3.48% 5,908,691 $287M $48.60 -$73M +233,691 +4.1%
14 CDTX 3.37% 1,260,000 $278M $220.89 +1,260,000 NEW
15 WBD 3.12% 8,924,170 $257M $28.82 $223M +7,174,170 +409.9%
16 FOLD 2.63% 15,250,000 $217M $14.24 +15,250,000 NEW
17 SNV 2.30% 3,792,518 $189M $49.97 +3,792,518 NEW
18 BHF 1.65% 2,100,000 $136M $64.79 +2,100,000 NEW
19 TXNM 1.21% 1,697,244 $100M $58.88 +1,697,244 NEW
20 ARKB 0.69% 1,966,887 $57M $29.04 -$67M -1,285,150 -39.5%
21 SNDK 0.68% 234,697 $56M $237.38 $29M +3
22 KVUE 0.53% 2,535,001 $44M $17.25 +2,535,001 NEW
23 SIRI 0.41% 1,685,004 $34M $20.00 +1,685,004 NEW
24 FETH 0.40% 1,126,139 $33M $29.61 -$13M
25 NWSA 0.37% 1,183,664 $31M $26.12 -$6M -19,893 -1.6%
26 SOLV 0.37% 388,022 $31M $79.24 $3M +2,380 +0.6%
27 TFX 0.28% 192,372 $23M $122.04 -$984K -7,540 -3.8%
28 UBER 0.27% 276,754 $23M $81.71 -$26M -220,489 -44.3%
29 LGN 0.23% 450,000 $19M $43.04 $11M +190,000 +73.1%
30 ETHW 0.21% 833,682 $18M $21.27 -$7M
31 CON 0.21% 862,750 $17M $19.68 -$1M -7,798 -0.9%
32 PSKY 0.16% 1,000,100 $13M $13.40 +1,000,100 NEW
33 BUD 0.14% 185,796 $12M $64.04 $823K -2
34 BTSG 0.14% 300,000 $11M $37.45 $4M +50,000 +20.0%
35 MDLN 0.12% 235,000 $10M $42.00 +235,000 NEW
36 ACHR 0.11% 1,250,000 $9M $7.52 -$180K +250,000 +25.0%
37 CWAN 0.11% 373,303 $9M $24.12 +373,303 NEW
38 ETH 0.11% 311,141 $9M $28.06 -$3M
39 SPLG 0.10% 105,288 $8M $80.22 $4M +50,418 +91.9%
40 MSTR 0.09% 51,564 $8M $151.95 +51,564 NEW
41 DDOG 0.08% 50,000 $7M $135.99 +50,000 NEW
42 GME 0.08% 336,553 $7M $20.08 $5M +278,840 +483.1%
43 CRWV 0.08% 93,800 $7M $71.61 +93,800 NEW
44 TRIP 0.07% 417,160 $6M $14.56 -$709K
45 CHTR 0.07% 28,590 $6M $208.75 +28,590 NEW
46 DLR 0.07% 36,842 $6M $154.71 -$7M -34,180 -48.1%
47 BOX 0.07% 186,766 $6M $29.91 +186,766 NEW
48 CC 0.06% 439,051 $5M $11.79 +439,051 NEW
49 AACB 0.06% 499,998 $5M $10.30 $60K
50 GTEN 0.06% 500,000 $5M $10.25 $20K
51 ADACU 0.06% 500,000 $5M $9.97 +500,000 NEW
52 WDC 0.06% 28,747 $5M $172.27 $2M -2 -0.0%
53 DMII 0.06% 500,000 $5M $9.90 +500,000 NEW
54 CEPF 0.06% 450,000 $5M $10.28 -$466K -49,999 -10.0%
55 KBONU 0.05% 400,000 $4M $10.07 +400,000 NEW
56 AEXA 0.05% 350,000 $4M $11.39 -$1M -150,000 -30.0%
57 CHKP 0.05% 20,680 $4M $185.56 +20,680 NEW
58 SBXE-UN 0.04% 350,000 $4M $10.06 +350,000 NEW
59 HNGE 0.04% 70,000 $3M $46.45 $61K +5,000 +7.7%
60 CTEV 0.04% 75,000 $3M $42.75 +75,000 NEW
61 ETHV 0.04% 72,028 $3M $43.44 -$1M
62 CCXIU 0.04% 300,000 $3M $10.21 +300,000 NEW
63 CAEP 0.04% 300,000 $3M $10.20 -$1M -100,000 -25.0%
64 IMSR 0.04% 500,000 $3M $6.11 +500,000 NEW
65 BETA 0.03% 100,000 $3M $28.21 +100,000 NEW
66 TTEK 0.03% 76,400 $3M $33.54 +76,400 NEW
67 HVMC 0.03% 250,000 $2M $10.00 +250,000 NEW
68 CVLT 0.03% 19,700 $2M $125.36 -$249K +5,300 +36.8%
69 LMRI 0.03% 120,000 $2M $18.50 +120,000 NEW
70 SAC-UN 0.02% 200,000 $2M $10.09 +200,000 NEW
71 SOFI 0.02% 75,000 $2M $26.18 +75,000 NEW
72 XZO 0.02% 80,000 $2M $24.25 +80,000 NEW
73 ANDG 0.02% 74,500 $2M $25.93 +74,500 NEW
74 ASTS 0.02% 25,546 $2M $72.63 +25,546 NEW
75 NIO 0.02% 350,648 $2M $5.10 -$763K +15,888 +4.8%
76 CDNL 0.02% 68,995 $2M $24.18 +68,995 NEW
77 CEPV 0.02% 150,000 $2M $10.25 +150,000 NEW
78 SLG 0.02% 32,074 $1M $45.87 -$248K +3,333 +11.6%
79 STSS 0.02% 769,231 $1M $1.88 +769,231 NEW
80 HIMS 0.02% 42,088 $1M $32.47 -$9M -136,719 -76.5%
81 FIGXU 0.02% 125,002 $1M $10.06 $9K
82 CEPO 0.01% 110,000 $1M $10.41 -$6K
83 LWLG 0.01% 350,000 $1M $3.24 +350,000 NEW
84 PENN 0.01% 71,467 $1M $14.75 +71,467 NEW
85 SPY 0.01% 1,437 $980K $681.92 $516K +740 +106.2%
86 EZET 0.01% 39,678 $894K $22.52 -$360K
87 NWL 0.01% 200,000 $744K $3.72 -$2M -248,699 -55.4%
88 CETH 0.01% 40,215 $596K $14.83 -$240K
89 MDU 0.01% 30,000 $586K $19.52 +30,000 NEW
90 RKLB 0.01% 8,300 $579K $69.76 $138K -900 -9.8%
91 VOYG —% 11,500 $301K $26.14 +11,500 NEW
92 WOLF —% 16,149 $281K $17.41 -$1M -42,677 -72.5%
93 LCID —% 12,903 $136K $10.57 -$259K -3,706 -22.3%
94 DMIIR —% 500,000 $70K $0.14 +500,000 NEW
95 HVMCW —% 125,000 $34K $0.27 +125,000 NEW
96 FBTC —% -$33M -331,272 -100.0% SOLD
97 LITE —% -$2M -9,500 -100.0% SOLD
98 BTC —% -$11M -226,705 -100.0% SOLD
99 FCRS —% -$3M -300,000 -100.0% SOLD
100 IWM —% -$1M -4,433 -100.0% SOLD

Options Breakdown

31 Calls $852M Call Value 93 Puts $2.6B Put Value 3.1 P/C Ratio

Top Calls

SymbolSharesValueStatus
SPY 841,400 $574M
QQQ 335,400 $206M NEW
WBD 851,800 $25M
GME 453,200 $9M
CNK 288,400 $7M
SIRI 285,100 $6M
UBER 64,000 $5M
ALHC 225,400 $4M
TRIP 231,800 $3M
BOX 72,500 $2M NEW

Top Puts

SymbolSharesValueStatus
NVDA 5,939,500 $1.1B
SPY 421,000 $287M
GLD 488,900 $194M
IBIT 3,476,600 $173M
QQQ 244,100 $150M
TSM 338,900 $103M
IWM 298,200 $73M
TSLA 112,300 $51M
YNDX 556,800 $47M
GS 50,800 $45M

New Positions

SymbolValue% Port
EXAS $777M 9.41%
HOLX $626M 7.58%
CFLT $454M 5.50%
EA $390M 4.73%
CMA $346M 4.19%
RNAM $315M 3.82%
CDTX $278M 3.37%
FOLD $217M 2.63%
SNV $189M 2.30%
BHF $136M 1.65%
TXNM $100M 1.21%
KVUE $44M 0.53%
SIRI $34M 0.41%
PSKY $13M 0.16%
MDLN $10M 0.12%

Sold Out Positions

SymbolValue% Port
NEE —%
B —%
CUBI —%
EVTL —%
BCSS —%
WBI —%
VIA —%
SCCO —%
PR —%
OLN —%
FCRS —%
RIG —%
FOX —%
COCO —%
CEPT —%
View SEC EDGAR Filings for HBK INVESTMENTS L P →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms