Plan Ledger DOL Form 5500 · updated monthly

Hudson Bay Capital Management, LP401(k)

HBC RETIREMENT PLAN · NEW YORK, NY · plan year 2025

Reported admin expense ratio · 2025
0.33%

Peer grade: B · admin costs + employer contributions vs same-size plans · how grading works

Hudson Bay Capital Management, LP reported $153,848 in plan administrative expenses for 2025: 0.33% of average plan assets, above the peer median. Employer contributions averaged $3,640 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.

Across the 3 years on file its reported administrative ratio has held roughly steady near 0.33%. The plan sits in the $10M–$50M size bracket, benchmarked here against 1,620 comparable plans and shown alongside other finance & insurance employers. By assets it is the 1,268th-largest of 5,648 plans among New York employers on file, and the 1,540th of 4,798 in finance & insurance. In 2025, employees put in $4.64 for every $1.00 the employer contributed; active participation has grown from 175 to 372 since 2023.

Plan summary
Net assets, end of year$55,981,036
Participants with balances328
Active participants372
Employer contributions$1,354,156
Employee contributions$6,281,423
Employer contribution per active participant$3,640
Average account balance$170,674
Benefits paid to participants$562,216
Plan auditUnmodified (clean) audit opinion
Plan history3
Yearassets · accounts · employer contribution
2025$56.0M · 328 accts · $1.4M emplr
2024$38.5M · 229 accts · $760K emplr
2023$28.2M · 155 accts · $596K emplr
Administrative expenses, itemized · 2025
Recordkeeping & contract admin$66,550
Investment management$43,649
Total administrative$153,848
The Hudson Bay Capital Management, LP 401(k) match · 2025
Employer contribution per active participant$3,640
Median for plans this size$2,666
2025$3,640 per active participant
2024$2,657 per active participant
2023$3,408 per active participant

Hudson Bay Capital Management, LP's 2025 employer contribution ran above the $2,666 median for plans its size. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.

What these fees cost you

Annual cost at the plan's reported 2025 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.

Service providers · 20253
MERRILL LYNCH PIERCE FENNER & SMITH · Pension consulting · Investment advisory (plan)$87,298
PRINCIPAL LIFE INSURANCE COMPANY · Contract administrator · Loan processing$64,296
ORENDA RETIREMENT LLC · Contract administrator · Other services$2,125

Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.

Administrative cost history3
2025$153,848 · 0.33%
2024$114,978 · 0.34%
2023$84,434 · 0.34%
Similar plansFinance & Insurance · New York
Cifc Asset Management LLC NY$56.8M · 0.01%
Better Holdco, Inc. NY$56.0M · 0.28%
Greenhill & Co., Inc. NY$54.1M · 0.19%

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Source: U.S. Department of Labor, Form 5500 series, EIN 371511773 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.