HBK INVESTMENTS L P
SEC Form 13F institutional filer · CIK 0001011443
13F-HR · 64 reported holdings · 2026-03-31
SEC-registered institutional investment manager.
Reported long-US-equity value
$1.63B
Top-10 concentration
90.3%
HBK INVESTMENTS L P — $1.63B AUM allocation strategy
HBK INVESTMENTS L P files SEC Form 13F and reports $1.63B of long US equity value across 64 reported holdings for 2026-03-31.
Its largest sector bet is Industrials 32.4%, followed by Communication Services 32.0% and Consumer Staples 22.3%.
The top 10 holdings account for 90% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
HBK INVESTMENTS L P — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$1.63B
total across 64 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
90% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$KVUE +18.5M sh · +$318M+$WBD +7.44M sh · +$192M+$HPE +100K sh · +$6.33M
Biggest trims (shares)
−$NSC −394K sh · −$117M−$DLR −24.1K sh · −$3.4M−$CHTR −1.63K sh · −$147K
Exited to nil (held last quarter, gone now)
$SNDK ($55.7M last qtr)$PSKY ($13.4M last qtr)$ARES ($7.54M last qtr)$WDC ($4.95M last qtr)
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Rail Transportation30.7%—
- Broadcasting27.6%—
- Personal Care Products22.3%—
- Cable & Satellite2.3%—
- Publishing1.8%—
- Technology Hardware, Storage & Peripherals1.6%—
- Health Care Technology1.5%—
- Passenger Ground Transportation1.3%—
- Other holdings10.9%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
10 of 10 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $NSC | Norfolk Southern Corporation | 1.74M | $498M | -394K | 30.6% |
| $WBD | Warner Bros. Discovery Inc. Series A | 16.4M | $449M | +7.44M | 27.6% |
| $KVUE | Kenvue Inc | 21M | $362M | +18.5M | 22.3% |
| $CMCSA | Comcast Corporation | 1.07M | $30.6M | — | 1.9% |
| $NWS | News Corporation | 1.18M | $29.5M | +0 | 1.8% |
| $SOLV | Solventum Corporation | 388K | $25.3M | +0 | 1.6% |
| $UBER | Uber Technologies Inc | 299K | $21.5M | +22.1K | 1.3% |
| $HPE | Hewlett Packard Enterprise Company | 300K | $19.6M | +100K | 1.2% |
| $RL | Ralph Lauren Corporation | 1.3M | $18.9M | — | 1.2% |
| $NEE | NextEra Energy Inc | 223K | $13.5M | +73.3K | 0.8% |
…and 54 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
← All 13F filers·← QuantOrb.pro
How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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