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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 $724,349,346 across 12 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 96.02% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-26-000871

Period
2025-12-31
Reported value
$724M
Holdings
12
Top 10 weight
96.02%
New
2
Sold out
8

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

How groups are built

Stakes and trades reported after 2025-12-31

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.

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

Largest buys vs the previous quarter

SecurityShares changeApprox. value
LPLAnew+104,000$37.1M
AGNCadded+1,926,000$20.6M
NLYadded+826,225$18.5M
BAadded+80,000$17.4M
RHnew+87,000$15.6M

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
SLGexited-450,330-$26.9M
KREexited-275,000-$17.4M
UNITreduced-1,993,256-$14M
VNOexited-293,879-$11.9M
AVAHexited-1,286,000-$11.4M

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, Q4 2025

Share positions as resolved from 13F-HR 0001172661-26-000871, largest first. % of portfolio is the value over $724,349,346, 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; 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; 2025Q4: 10,229,730 shares 10,229,730$158M21.82%+889,800Timeline
BABOEING COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 500,000 shares; 2025Q1: 900,000 shares; 2025Q2: 750,000 shares; 2025Q3: 584,000 shares; 2025Q4: 664,000 shares 664,000$144M19.9%+80,000Timeline
BAPRABOEING COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,706,000 shares 1,706,000$118M16.34%+6,000Timeline
LPLALPL FINL HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 104,000 shares 104,000$37.1M5.13%newTimeline
AGNCAGNC INVT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,325,000 shares; 2025Q4: 3,251,000 shares 3,251,000$34.9M4.81%+1,926,000Timeline
NLYANNALY CAPITAL MANAGEMENT INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 600,000 shares; 2025Q4: 1,426,225 shares 1,426,225$31.9M4.4%+826,225Timeline
UWMCUWM HOLDINGS CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 2,800,000 shares; 2025Q4: 4,594,000 shares 4,594,000$20.1M2.78%+1,794,000Timeline
ALLYALLY FINL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 441,000 shares; 2025Q4: 438,500 shares 438,500$19.9M2.74%-2,500Timeline
UNITUNITI GROUP LLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 4,491,482 shares; 2025Q4: 2,498,226 shares 2,498,226$17.5M2.42%-1,993,256Timeline
RHRHQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 87,000 shares 87,000$15.6M2.15%newTimeline
OPTUOPTIMUM COMMUNICATIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 8,032,126 shares 8,032,126$13.3M1.83%+3,993,552Timeline

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$114M0

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
HYGISHARES TR9,500,000$771Mput
LQDISHARES TR6,500,000$725Mput
NVDANVIDIA CORPORATION600,000$112Mput
SLGSL GREEN RLTY CORP450,330$26.9Mshares
KRESPDR SERIES TRUST275,000$17.4Mshares
VNOVORNADO RLTY TR293,879$11.9Mshares
AVAHAVEANNA HEALTHCARE HLDGS INC1,286,000$11.4Mshares
VLYVALLEY NATL BANCORP700,000$7.42Mshares

How Q4 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 0001172661-26-000871 base2026-02-17acceptance time not in the bulk data set