Hudson Way Capital Management LLC

Hedge Fund • Long/Short

Hudson Way Capital Management LLC is a Long/Short Hedge Fund based in Dallas, TX led by Carrie Elizabeth Bass, managing $1.3B across 17 long positions as of Q3 2025 with 31% Consumer Cyclical concentration and 76% concentrated in top 10 holdings.

CFOCarrie Elizabeth Bass

Portfolio Value: $1.3B
Positions: 17
Top Holding: KKR at 14.3%
Last Reported: Q3 2025

Address2300 N. Field Street, Suite 1630, Dallas, TX, 75201, United States

Top Holdings

Largest long holdings in Hudson Way Capital Management LLC's portfolio (75.8% of total portfolio)

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GthenH

Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 KKR & Co. KKR	Asset Management Financial Services	$182.3M	14.30%	+$29.5M Bought	0.16% 1.4M shares	Q3 2018 Held for 7y 2m
2 Churchill Downs CHDN	Gambling, Resorts & Casinos Consumer Cyclical	$110.6M	8.67%	+$13.8M Bought	1.63% 1.1M shares	Q3 2018 Held for 7y 2m
3 SS&C Technologies SSNC	Software - Application Technology	$107.6M	8.44%	+$21.9M Bought	0.50% 1.2M shares	Q1 2023 Held for 2y 8m
4 SGI Silicon Graphics International Corp SGI	Unknown Unknown	$96.1M	7.54%	-$39.5M Sold	— 1.1M shares	Q1 2025 Held for 8 months
5 SGI Tempur Sealy International SGI	Furnishings, Fixtures & Appliances Consumer Cyclical	$96.1M	7.54%	-$39.5M Sold	0.54% 1.1M shares	Q1 2023 Held for 2y 8m
6 TransDigm Group TDG	Aerospace & Defense Industrials	$90.7M	7.11%	+$6.9M Bought	0.12% 68.8K shares	Q2 2022 Held for 3y 5m
7 Visa V	Financial - Credit Services Financial Services	$82.4M	6.47%	-$2.1M Sold	0.01% 241.5K shares	Q1 2019 Held for 6y 8m
8 Hilton Worldwide HLT	Travel Lodging Consumer Cyclical	$81.1M	6.36%	-$13.7M Sold	0.13% 312.5K shares	Q1 2024 Held for 1y 8m
9 S&P Global SPGI	Financial - Data & Stock Exchanges Financial Services	$60.9M	4.78%	+$10.2M Bought	0.04% 125.2K shares	Q1 2022 Held for 3y 8m
10 Guidewire Software GWRE	Software - Application Technology	$58.2M	4.56%	+$3.9M Bought	0.30% 253.0K shares	Q3 2024 Held for 1y 2m

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GthenH

Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Hudson Way Capital Management LLC's latest filing

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GthenC

Market Value

$1.3B

Prior: $1.2B

Q/Q Change

+4.89%

+$59.5M

Net Flows % of MV

-0.518%

Turnover Ratio

14.3%

New Purchases

1 stocks

$53.4M

Added To

7 stocks

+$96.9M

Sold Out Of

2 stocks

$31.7M

Reduced Holdings

8 stocks

-$125.1M

Increased Positions

Position	Shares Δ	Change
1 AppFolio APPF	New	0 → 193.6K +$53.4M
2 Axon Enterprise, Inc. AXON	+44.35%	33.1K → 47.8K +$10.5M
3 SS&C Technologies SSNC	+25.62%	965.0K → 1.2M +$21.9M
4 S&P Global SPGI	+20.19%	104.2K → 125.2K +$10.2M
5 KKR & Co. KKR	+19.28%	1.2M → 1.4M +$29.5M

Decreased Positions

Position	Shares Δ	Change
1 KBR KBR	Sold	376.4K → 0 −$18.0M
2 Progressive PGR	Sold	51.3K → 0 −$13.7M
3 SGI Tempur Sealy International SGI	-29.12%	1.6M → 1.1M −$39.5M
4 SGI Silicon Graphics International Corp SGI	-29.12%	1.6M → 1.1M −$39.5M
5 LKQ LKQ	-23.01%	1.9M → 1.4M −$13.2M