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MKP Capital Management, L.L.C.

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13F filer, CIK 1534949, New York, NY

MKP Capital Management, L.L.C. reported $2,809,442,920 across 22 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-10. Its ten largest share positions make up 89.68% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-26-000569

Period
2025-12-31
Reported value
$2.81B
Holdings
22
Top 10 weight
89.68%
New
16
Sold out
6

Largest buys vs the previous quarter

SecurityShares changeApprox. value
IVVadded+851,266$583M
RSPnew+522,000$100M
EEMnew+1,663,000$91M
BACnew+1,100,000$60.5M
KREnew+745,700$48.3M

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
AAPLreduced-1,260,000-$343M
AMZNexited-1,151,820-$253M
TJXexited-600,000-$86.7M
COFexited-375,000-$79.7M
MSFTreduced-160,800-$77.8M

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 0001172661-26-000569, largest first. % of portfolio is the value over $2,809,442,920, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
IVVISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,665,086 shares; 2025Q1: 1,809,274 shares; 2025Q2: 2,193,357 shares; 2025Q3: 1,939,406 shares; 2025Q4: 2,790,672 shares 2,790,672$1.91B68.04%+851,266Timeline
RSPINVESCO EXCHANGE TRADED FD TQuarterly 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: 522,000 shares 522,000$100M3.56%newTimeline
EEMISHARES TRQuarterly 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: 1,663,000 shares 1,663,000$91M3.24%newTimeline
FXIISHARES TRQuarterly 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: 2,924,346 shares; 2025Q4: 2,283,547 shares 2,283,547$87.4M3.11%-640,799Timeline
EWZISHARES 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: 2,220,000 shares; 2025Q4: 2,286,900 shares 2,286,900$72.7M2.59%+66,900Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 880,000 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 352,000 shares; 2025Q4: 200,000 shares 200,000$62.6M2.23%-152,000Timeline
BACBANK OF AMER 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: 1,713,000 shares; 2025Q3: not reported; 2025Q4: 1,100,000 shares 1,100,000$60.5M2.15%newTimeline
KRESPDR SERIES TRUSTQuarterly 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: 745,700 shares 745,700$48.3M1.72%newTimeline
NCLHNORWEGIAN CRUISE LINE HLDGSQuarterly 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: 2,000,000 shares 2,000,000$44.6M1.59%newTimeline
CCITIGROUP 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: 350,000 shares 350,000$40.8M1.45%newTimeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 357,000 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 105,000 shares; 2025Q3: 240,800 shares; 2025Q4: 80,000 shares 80,000$38.7M1.38%-160,800Timeline
ITBISHARES TRQuarterly 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: 389,800 shares 389,800$37.5M1.34%newTimeline
AAPLAPPLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 425,000 shares; 2025Q2: not reported; 2025Q3: 1,390,000 shares; 2025Q4: 130,000 shares 130,000$35.3M1.26%-1,260,000Timeline
NDAQNASDAQ 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: 350,000 shares 350,000$34M1.21%newTimeline
KWEBKRANESHARES TRUSTQuarterly 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: 893,310 shares 893,310$30.4M1.08%newTimeline
XLFSELECT SECTOR SPDR TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,867,000 shares; 2024Q4: not reported; 2025Q1: 5,140,000 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 511,340 shares 511,340$28M1%newTimeline
HOODROBINHOOD MKTS 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: 200,000 shares 200,000$22.6M0.81%newTimeline
NFLXNETFLIX INC.Quarterly 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: 200,000 shares 200,000$18.8M0.67%newTimeline
COOCOOPER COS 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: 200,000 shares 200,000$16.4M0.58%newTimeline
CTSHCOGNIZANT TECHNOLOGY SOLUTIOQuarterly 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: 150,000 shares 150,000$12.4M0.44%newTimeline
KBWBINVESCO EXCH TRADED FD TR IIQuarterly 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: 100,000 shares 100,000$8.43M0.3%newTimeline
OWLBLUE OWL CAPITAL 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: 494,639 shares 494,639$7.39M0.26%newTimeline

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
AMZNAMAZON COM INC1,151,820$253Mshares
TJXTJX COS INC NEW600,000$86.7Mshares
COFCAPITAL ONE FINL CORP375,000$79.7Mshares
FXIISHARES TR1,560,000$64.2Mcall
PGPROCTER & GAMBLE CO158,000$24.3Mshares
FXIISHARES TR509,200$20.9Mput

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 0001172661-26-000569 base2026-02-10acceptance time not in the bulk data set