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KING STREET CAPITAL MANAGEMENT, L.P.

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13F filer, CIK 1218199, New York, NY

KING STREET CAPITAL MANAGEMENT, L.P. reported $2,337,682,161 across 18 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 92.79% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-25-004996

Period
2025-09-30
Reported value
$2.34B
Holdings
18
Top 10 weight
92.79%
New
11
Sold out
5

Part of the filer group KING STREET CAPITAL MANAGEMENT, L.P.

How groups are built

Stakes and trades reported after 2025-09-30

13D, 13G and Form 4 filings by this filer's group, dated after the 13F period, on securities the quarter does not hold as shares.

  • NFEGP NEW FORTRESS ENERGY INC: 13G 301,730 shares, 12.3% of the class, 13G filed 2026-10-07, 0000895345-26-000449Timeline
    Accepted , ingested

Largest buys vs the previous quarter

SecurityShares changeApprox. value
SGRYadded+3,114,930$67.4M
UNITnew+4,491,482$27.5M
SLGnew+450,330$26.9M
KREnew+275,000$17.4M
ALLYnew+441,000$17.3M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
BAreduced-166,000-$35.8M
AVAHreduced-3,264,000-$29M
UNITI GROUP INCexited-6,000,000-$25.9M
HOUSexited-4,800,000-$17.4M
AMBPexited-1,750,000-$7.49M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001172661-25-004996, largest first. % of portfolio is the value over $729,874,161, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
SGRYSURGERY PARTNERS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,450,000 shares; 2024Q4: 2,800,000 shares; 2025Q1: 5,000,000 shares; 2025Q2: 6,225,000 shares; 2025Q3: 9,339,930 shares 9,339,930$202M27.69%+3,114,930Timeline
BABOEING COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 500,000 shares; 2025Q1: 900,000 shares; 2025Q2: 750,000 shares; 2025Q3: 584,000 shares 584,000$126M17.27%-166,000Timeline
BAPRABOEING COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,700,000 shares; 2025Q1: 1,700,000 shares; 2025Q2: 1,700,000 shares; 2025Q3: 1,700,000 shares 1,700,000$118M16.23%0Timeline
UNITUNITI GROUP LLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 4,491,482 shares 4,491,482$27.5M3.77%newTimeline
SLGSL GREEN RLTY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 450,330 shares 450,330$26.9M3.69%newTimeline
KRESPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 275,000 shares 275,000$17.4M2.39%newTimeline
ALLYALLY FINL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 441,000 shares 441,000$17.3M2.37%newTimeline
UWMCUWM HOLDINGS CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 2,800,000 shares 2,800,000$17.1M2.34%newTimeline
AGNCAGNC INVT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,325,000 shares 1,325,000$13M1.78%newTimeline
NLYANNALY CAPITAL MANAGEMENT INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 600,000 shares 600,000$12.1M1.66%newTimeline
VNOVORNADO RLTY TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 293,879 shares 293,879$11.9M1.63%newTimeline
AVAHAVEANNA HEALTHCARE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,400,000 shares; 2024Q4: 6,400,000 shares; 2025Q1: 6,260,000 shares; 2025Q2: 4,550,000 shares; 2025Q3: 1,286,000 shares 1,286,000$11.4M1.56%-3,264,000Timeline
OPTUOPTIMUM COMMUNICATIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,500,000 shares; 2024Q4: 2,500,000 shares; 2025Q1: 3,800,000 shares; 2025Q2: not reported; 2025Q3: 4,038,574 shares 4,038,574$9.73M1.33%newTimeline
VLYVALLEY NATL BANCORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 700,000 shares 700,000$7.42M1.02%newTimeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
HYGISHARES TR IBOXX HI YD ETFput9,500,000$771M+5,500,000
LQDISHARES TR SHSput6,500,000$725Mnew
NVDANVIDIA CORPORATION COMput600,000$112M0

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
PG&E CORPPG&E CORP NOTE 4.250%12/0principal110,000,000$111M0

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
ZTO EXPRESS CAYMAN INCZTO EXPRESS CAYMAN INC37,513,000$36.9Mprincipal
UNITI GROUP INCUNITI GROUP INC6,000,000$25.9Mshares
HOUSANYWHERE REAL ESTATE INC4,800,000$17.4Mshares
AMBPARDAGH METAL PACKAGING S A1,750,000$7.49Mshares
Leslie's IncLeslie's Inc1,500,000$630Kshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001172661-25-004996 base2025-11-14acceptance time not in the bulk data set