Hudson Bay Reports 5.22% Stake (3.94M Shares) in SpringWorks SWTX

Hudson Bay Capital Management LP and Sander Gerber report beneficial ownership of 3,936,857 shares of SpringWorks Therapeutics, representing 5.22% of the outstanding common stock.

Rhea-AI Filing Summary

Hudson Bay Capital Management LP and Sander Gerber report beneficial ownership of 3,936,857 shares of SpringWorks Therapeutics, representing 5.22% of the outstanding common stock. The reported position includes 3,529,200 shares issuable upon exercise of call options. The filings show no sole voting or dispositive power and shared voting and dispositive power of 3,936,857 shares, indicating the securities are held in the name of the fund managed by the Investment Manager.

The Schedule 13G filing includes a certification that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer. The ownership percentage is calculated using an outstanding share base of 75,348,995 shares as disclosed in the company proxy.

Positive

• Beneficial ownership disclosed: 3,936,857 shares (5.22% of class)
• Options included: 3,529,200 shares issuable upon exercise of call options
• Institutional holding: Securities held in the name of Hudson Bay Master Fund Ltd. via the Investment Manager

Negative

• No sole voting or dispositive power: Sole voting and dispositive power reported as 0
• Concentration: Position represents a material 5.22% stake in the company

Insights

Financial Analyst

TL;DR Hudson Bay reports a passive 5.22% stake (3.94M shares, incl. 3.53M option shares) in SpringWorks.

The filing shows an institutional position held in the name of Hudson Bay Master Fund Ltd., with Hudson Bay Capital Management LP as investment manager. Reported holdings total 3,936,857 shares, of which 3,529,200 are exercisable call options, and the percentage is based on 75,348,995 shares outstanding per the company proxy. The cover information indicates shared voting and dispositive power and no sole voting or dispositive power. The Item 10 certification states the position is held in the ordinary course and not to influence control.

Corporate Governance Expert

TL;DR The Schedule 13G disclosure signals a non-control, institutional stake of 5.22% reported jointly by Hudson Bay and Sander Gerber.

The statement identifies the Investment Manager as holding the securities on behalf of Hudson Bay Master Fund Ltd., and Mr. Gerber disclaims beneficial ownership while serving as managing member of the general partner. The filing reports shared voting/dispositive power for the reported shares and contains a certification that the holdings were not acquired to change or influence issuer control, consistent with a passive 13G disclosure.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many SpringWorks (SWTX) shares does Hudson Bay report owning?

The filing reports 3,936,857 shares of SpringWorks common stock beneficially owned.

What percentage of SWTX does the reported position represent?

The reported position represents 5.22% of the outstanding common stock.

Does the reported ownership include option shares?

Yes. The report states it includes 3,529,200 shares issuable upon exercise of call options.

Does Hudson Bay have sole voting control over these SWTX shares?

No. The filing shows 0 sole voting power and 3,936,857 shared voting power.

On what share count is the 5.22% based?

The percentage is calculated using an outstanding share base of 75,348,995 shares as disclosed in the company's proxy.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 08/08/2025 - 04:24 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

SpringWorks Therapeutics, Inc.

(Name of Issuer)

Common Stock, $0.0001 par value

(Title of Class of Securities)

85205L107

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 85205L107

1

Names of Reporting Persons

Hudson Bay Capital Management LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,936,857.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,936,857.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,936,857.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.22 %

12

Type of Reporting Person (See Instructions)

IA, PN

Comment for Type of Reporting Person: Includes 3,529,200 shares of Common Stock issuable upon exercise of call options.

SCHEDULE 13G

CUSIP No. 85205L107

1

Names of Reporting Persons

Sander Gerber

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,936,857.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,936,857.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,936,857.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.22 %

12

Type of Reporting Person (See Instructions)

HC, IN

Comment for Type of Reporting Person: Includes 3,529,200 shares of Common Stock issuable upon exercise of call options.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: SpringWorks Therapeutics, Inc.
(b)	Address of issuer's principal executive offices: 100 Washington Blvd, Stamford, Connecticut 06902
Item 2.
(a)	Name of person filing: This statement is filed by Hudson Bay Capital Management LP (the "Investment Manager") and Mr. Sander Gerber ("Mr. Gerber"), who are collectively referred to herein as "Reporting Persons."
(b)	Address or principal business office or, if none, residence: The address of the business office of each of the Reporting Persons is 290 Harbor Dr., Stamford, CT 06902.
(c)	Citizenship: The Investment Manager is a Delaware limited partnership. Mr. Gerber is a United States citizen.
(d)	Title of class of securities: Common Stock, $0.0001 par value
(e)	CUSIP No.: 85205L107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The information required by Item 4(a) is set forth in Row 9 of the cover page for each of the Reporting Persons and is incorporated herein by reference. The percentage set forth in this Schedule 13G is calculated based upon an aggregate of 75,348,995 shares of common stock, $0.0001 par value (the "Common Stock") of SpringWorks Therapeutics, Inc. (the "Company") outstanding as of May 27, 2025, as reported in the Company's Definitive Proxy Statement on Schedule 14A, filed with the Securities and Exchange Commission on May 28, 2025. The Investment Manager serves as the investment manager to Hudson Bay Master Fund Ltd., in whose name the securities reported herein are held. As such, the Investment Manager may be deemed to be the beneficial owner of all shares of Common Stock and shares of Common Stock issuable upon exercise of the call options held by Hudson Bay Master Fund Ltd.. Mr. Gerber serves as the managing member of Hudson Bay Capital GP LLC, which is the general partner of the Investment Manager. Mr. Gerber disclaims beneficial ownership of these securities.
(b)	Percent of class: 5.22%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(ii) Shared power to vote or to direct the vote: The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(iii) Sole power to dispose or to direct the disposition of: The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(iv) Shared power to dispose or to direct the disposition of: The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. See Item 4(a).
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Hudson Bay Capital Management LP

Signature:	/s/ Sander Gerber
Name/Title:	Sander Gerber, Authorized Signatory
Date:	08/08/2025

Sander Gerber

Signature:	/s/ Sander Gerber
Name/Title:	Sander Gerber, Individually
Date:	08/08/2025

Exhibit Information

EXHIBIT 99.1 JOINT ACQUISITION STATEMENT PURSUANT TO RULE 13d-1(k) The undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate. DATED: August 8, 2025 HUDSON BAY CAPITAL MANAGEMENT LP By: /s/ Sander Gerber Name: Sander Gerber Title: Authorized Signatory /s/ Sander Gerber SANDER GERBER