HBK Investments L P
HBK Investments L.P. is a multi-strategy alternative investment management firm headquartered in Dallas, Texas. Founded in 1991, HBK manages assets across a diversified array of strategies, serving institutional investors, including endowments, foundations, pension funds, and family offices. The firm has a global presence, with additional offices in New York, London, and Charlottesville, and employs a team comprised of investment professionals, operational staff, and risk management specialists. HBK is known for its rigorous, research-driven investment approach and its long-standing reputation in the alternative asset management industry.
Investment Strategy
HBK Investments pursues a multi-strategy approach focused on identifying and capitalizing on inefficiencies across global markets. Their strategies include convertible arbitrage, equity long/short, event-driven, capital structure arbitrage, credit opportunities, and other relative value trades. The firm emphasizes a disciplined, analytical investment process, strong risk management, and diversification across asset classes and geographies. Investment decisions are grounded in deep fundamental research, quantitative analysis, and an opportunistic philosophy that aims to generate attractive risk-adjusted returns regardless of market conditions.
Top Holdings
Equity Positions (72)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
H HES | HESS CORP | 26.42% | $1.25B | 9,000,100 | $142.24 | $138.54 | +$71.9M |
A ARKB | ARK 21SHARES BITCOIN ETF | 2.48% | $116.9M | 3,267,144 | $48.37 | $35.79 | +$49.8M |
G GMS | GMS INC | 1.62% | $76.6M | 704,721 | $108.75 | $108.75 | +$76.6M |
F FBTC | FIDELITY WISE ORIGIN BITCOIN | 1.55% | $73.3M | 780,164 | $75.95 | $93.99 | +$41.6M |
U UBER | UBER TECHNOLOGIES INC | 0.95% | $44.7M | 479,421 | $73.51 | $93.30 | +$10.9M |
Options Positions (10)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
S SPY | SPDR S&P 500 ETF TR | Bought | Put | $362.8M | 5,872 | $617.85 | $487.07 | +2,446 | +$171.2M |
G GLD | SPDR GOLD TR | Bought | Put | $203.4M | 6,672 | $304.83 | $269.67 | +3,396 | +$109.0M |
S SPY | SPDR S&P 500 ETF TR | Bought | Call | $185.4M | 3,000 | $617.85 | $508.43 | +1,500 | +$101.4M |
M MSTR | MICROSTRATEGY INC | Bought | Put | $147.8M | 3,657 | $404.23 | $283.08 | +949 | +$69.8M |
X XOP | SPDR SERIES TRUST | Bought | Put | $109.3M | 8,690 | $125.80 | $127.52 | +6,170 | +$76.1M |