King Street Capital Management, L.P.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), King Street Capital Management, L.P. reported 7 stock positions worth $370.7 million. Its top holding was Boeing (BA) at 42.4% of the portfolio, followed by Surgery Partners (SGRY, 37.3%) and Uniti Group LLC Com SHS (UNIT, 7.0%). Compared with Q1 2025, it opened 1 new position, sold out of 2, added to 3 and reduced 3. The biggest buy was Surgery Partners (SGRY, shares +25%) and the biggest sale an exit from P G & E (PCG).

Most Recent 13F
Q2 2026
Location
New York, NY
CIK
0001218199
Portfolio Value
$370.7M (Q2 2025)
SEC Filing
0001172661-25-003271 ↗ filed Aug 14, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $46.7M Q1 2024 Q2 2024: $37.6M Q2 2024 Q3 2024: $113.0M Q3 2024 Q4 2024: $242.9M Q4 2024 Q1 2025: $369.9M Q1 2025 Q2 2025: $370.7M $370.7M Q2 2025 Q3 2025: $499.9M Q3 2025 Q4 2025: $492.4M Q4 2025 Q1 2026: $328.0M Q1 2026 Q2 2026: $189.7M Q2 2026

Holdings 7 stocks · $370.7M
BA The Boeing Co. 42.39% 750,000 $157.1M Reduce -16.7%
SGRY Surgery Partners Inc. 37.33% 6,225,000 $138.4M Add +24.5%
UNIT Uniti Group LLC Com SHS 6.99% 6,000,000 $25.9M Add +36.4%
AVAH Aveanna Healthcare Holdings 6.42% 4,550,000 $23.8M Reduce -27.3%
HOUS Anywhere Real Estate Inc. 4.69% 4,800,000 $17.4M Add +174.3%
AMBP Ardagh Metal Packaging SA 2.02% 1,750,000 $7.5M Reduce -37.5%
LESLIES INC 0.17% 1,500,000 $630K New

Options reported separately and not counted above: HYG puts ($322.6M), NVDA puts ($94.8M).

Other holdings (3): bonds, preferreds, convertibles and warrants · $261.5M (not counted above)
SecurityClassShares / PrincipalValueChange
BOEING CO/THE (BA 6 10/15/27) DEP CONV PFD A 1,700,000$115.7MNo change
PG&E CORP (PCG 4.25 12/01/27) NOTE 4.250%12/0 · principal 110,000,000$108.8MReduce -49.5%
ZTO EXPRESS KY INC (ZTO 1.5 09/01/27) NOTE 1.500% 9/0 · principal 37,513,000$36.9MAdd +4.2%

Total filed on the 13F, all lines: $632.2M.

Portfolio Sells Q1 2025 → Q2 2025
PCG P G & E Corp. Sold out 0.00% −4.64
AVAH Aveanna Healthcare Holdings Reduce -27.3% 6.42% −2.75
OPTU Optimum Communications Inc. Class A Sold out 0.00% −2.73
AMBP Ardagh Metal Packaging SA Reduce -37.5% 2.02% −0.27
BA The Boeing Co. Reduce -16.7% 42.39% +0.89

Portfolio Buys Q1 2025 → Q2 2025
SGRY Surgery Partners Inc. Add +24.5% 37.33% +5.22
HOUS Anywhere Real Estate Inc. Add +174.3% 4.69% +3.11
UNIT Uniti Group LLC Com SHS Add +36.4% 6.99% +1.00
LESLIES INC New 0.17% +0.17

Options Activity Q1 2025 → Q2 2025
HYG Ishr Ibx Usd Hiyld CB ETF-Ui put New 4,000,000 $322.6M
PCG P G & E Corp. call Sold out 2,500,000 $43.0Mbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q1 2025 → Q2 2025
PG&E CORP (PCG 4.25 12/01/27) NOTE 4.250%12/0 · principal Reduce -49.5% 110,000,000 $108.8M
ZTO EXPRESS KY INC (ZTO 1.5 09/01/27) NOTE 1.500% 9/0 · principal Add +4.2% 37,513,000 $36.9M
ANYWHERE RE GRP/REALOGY (HOUS 0.25 06/15/26) NOTE 0.250% 6/1 · principal Sold out 16,500,000 $15.4Mbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 6$189.7MSGRY, USHY, HYG, TLN, VST
Q1 2026 11$328.0MSGRY, BA, BXSL, UWMC, UNIT
Q4 2025 10$492.4MSGRY, BA, LPLA, AGNC, NLY
Q3 2025 13$499.9MSGRY, BA, UNIT, SLG, KRE
Q2 2025 7$370.7MBA, SGRY, UNIT, AVAH, HOUS
Q1 2025 8$369.9MBA, SGRY, AVAH, UNIT, PCG
Q4 2024 8$242.9MBA, SGRY, AVAH, BLCO, PCG
Q3 2024Amended 7$113.0MSGRY, AVAH, BLCO, UNIT, OPTU
Q2 2024Amended 3$37.6MAVAH, AMBP, OPTU
Q1 2024 3$46.7MAVB, AVAH, VMRK