Equal-WT
WhaleScore 2.0
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HBK Investments L P is based out of Dallas. HBK Investments L P is a hedge fund with 8 clients and discretionary assets under management (AUM) of $20,308,069,000 (Form ADV from 2025-01-31). Their last reported 13F filing for Q1 2025 included $3,823,729,017 in managed 13F securities
and a top 10 holdings concentration of 54.9%. HBK Investments L P's largest holding is Hess Corporation with shares held of 7,355,900. Whalewisdom has at least 314 13F filings, 31 13D filings, and 401 13G filings
Business Description
The advisory firm provides discretionary investment management services and related administrative services to its Funds. Founded in 1991, the firm has approximately 205 employees across four offices located in Dallas, Texas (headquarters), New York City, London, and Charlottesville, Virginia. The principal owner of HBK Investments L.P. is HBK Management LLC, which is controlled by HBK's partners.
The firm's employees may serve as directors or committee members of companies in which the Funds invest, potentially creating conflicts of interest. Additionally, the firm may establish new investment funds, enter into advisory relationships, and engage in other business activities that could compete with existing Funds or clients.
Investment Strategy
HBK Investments L.P. employs various investment strategies for its Funds, utilizing fundamental, quantitative, and technical methods of analysis. The firm organizes portfolio positions into business units, aggregated into six primary groups: Corporate Credit, Emerging Markets, Structured Credit, Event Driven Equities, Volatility, and Developed Markets Fixed Income. Specific funds focus on particular strategies, such as the Merger Strategies Funds within Event Driven Equities and the Convertible Arbitrage Fund within Corporate Credit. The CV Strategies Fund targets opportunities in continuation vehicles.
The Funds have broad investment flexibility, with activities not limited to the outlined strategies. They can invest in a wide range of securities, instruments, and assets, pursuing diverse strategies, even those not explicitly described or contrary to typical approaches. The distinctions between the business groups are not always rigid, allowing for investments that span multiple groups or do not neatly fit within any category.
Owners
- HBK MANAGEMENT LLC - GENERAL PARTNER
- AKHTAR, JAMIEL, ANDREW - CHIEF INVESTMENT OFFICER, MANAGING DIRECTOR
- HARRIS, HEATHER, LYNNE - CHIEF FINANCIAL OFFICER, MANAGING DIRECTOR
- DOUD, ROYA, SALEH - CHIEF COMPLIANCE OFFICER
- LUTH, MATTHEW, FREDERICK - CHIEF INVESTMENT OFFICER, MANAGING DIRECTOR
- HAAS, ISAAC, SEBASTIAN - GENERAL COUNSEL
- LEFFERS, MATTHEW, ATCHESON - PRESIDENT, MANAGING DIRECTOR Click on the Ownership/Private Fund Data tab for more details.
Known Email Addresses
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Other Contact Information
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Confidential Treatment - This manager has
obtained confidential treatment for one or more investments in
the most recent 13F filing.
2025-03-31
Top Buys (13F)
| Name | % Change |
|---|---|
| HES Hess Corporation | 13.89% |
| META Meta Platforms Inc (PUT) | 3.45% |
| DEBT-MICR MICROSTRATEGY INC NO (PRN) | 1.87% |
| MSTR Strategy Inc (PUT) | 1.5% |
| GLD SPDR Gold Shares ETF (PUT) | 1.17% |
2025-03-31
Top Sells (13F)
| Name | % Change |
|---|---|
| SPY SPDR S&P 500 ETF TRU (CALL) | 13.8% |
| SPY SPDR S&P 500 ETF TRU (PUT) | 3.59% |
| SPY SPDR S&P 500 ETF TRU | 3.48% |
| TKO TKO Group Holdings I (PUT) | 3.48% |
| FBTC Fidelity Wise Origin | 3.17% |
2025-03-31
13F Holdings Summary
| Name | $ Change |
|---|---|
| HES Hess Corporation | 30.73% |
| SPY SPDR S&P 500 ETF TRU(PUT) | 5.01% |
| IWM iShares Russell 2000(PUT) | 3.68% |
| META Meta Platforms Inc(PUT) | 3.45% |
| GLD SPDR Gold Shares ETF(PUT) | 2.47% |
Confidential Treatment - Holdings omitted in latest filing.
HBK Services LLC ("Services"), a relying adviser under the same registration as HBK Investments L.P., has been delegated discretion to vote and dispose of the securities described below. Services may, from time to time, delegate discretion to vote and dispose of certain of such Securities to one or more subadvisors. Each of Services and such subadvisors is under common control with HBK Investments L.P. The filing of this report shall not be deemed an admission that such subadvisors are, for the purpose of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, beneficial owners of such securities.
2025-03-31
13F Activity
| Market Value | $3.82b, Prior: $5.72b |
| Inflows (Outflows) as % of Total MV | (-41.0205)% |
| New Purchases | 62 stocks |
| Added To | 35 stocks |
| Sold out of | 75 stocks |
| Reduced holdings in | 48 stocks |
| Top 10 Holdings % | 54.9% |
| Turnover %[1] | 55.47% |
| Turnover Alt %[2] | 19.81% |
| Time Held Top 20 | 3.45 quarters |
| Time Held Top 10 | 5.2 quarters |
| Time Held All | 3.24 quarters |
[1]: Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter.
[2]: Alt Turnover is calculated by taking either the total MV of new purchases or the MV of securities sold, whichever is less, divided by the total MV of the fund.
2025-03-31
13F Sector Allocation Over Time
limited to past 4 quarters. Subscribe to see all available data
2025-03-31
Analysis
Top 20 equal-weighted holdings. Performance numbers calculated through 2025-03-31