KING STREET CAPITAL MANAGEMENT, L.P.

Top Holdings12 positions

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Activity:AllNewIncreasedDecreasedExitedUnchangedFirst report

Stock	Shares	Value	Weight	Price Trend	Avg Buy	Est. P&L	Held	Conviction
SGRY SURGERY PARTNERS INC COM	10.2M	$158M	21.8%	—	$23.05	-32.11%	6 qtrssince 2024-Q3	Increased 68
BA BOEING CO	664,000	$144.2M	19.9%	—	$179.31	+21.08%	5 qtrssince 2024-Q4	Increased 70
??BOEING CO DEP CONV PFD A Preferred	1.7M	$118.4M	16.3%	—	—	—	5 qtrssince 2024-Q4	Increased 61
??PG&E CORP Bond	110M	$113.5M	15.7%	—	—	—	5 qtrssince 2024-Q4	Unchanged 0
LPLA LPL FINL HLDGS INC	104,000	$37.1M	5.1%	—	$356.17	-7.91%	1 qtr	New 93
AGNC REIT AGNC INVT CORP	3.3M	$34.9M	4.8%	—	$9.22	+5.05%	2 qtrssince 2025-Q3	Increased 89
NLY REIT ANNALY CAPITAL MANAGEMENT INC COM NEW	1.4M	$31.9M	4.4%	—	$21.19	-13.76%	2 qtrssince 2025-Q3	Increased 88
UWMC UWM HOLDINGS CORPORATION COM CL A	4.6M	$20.1M	2.8%	—	$5.44	-18.72%	2 qtrssince 2025-Q3	Increased 74
ALLY ALLY FINL INC	438,500	$19.9M	2.7%	—	$38.10	-0.70%	2 qtrssince 2025-Q3	Decreased 0
UNIT UNITI GROUP LLC COM SHS	2.5M	$17.5M	2.4%	—	$6.04	+14.57%	2 qtrssince 2025-Q3	Decreased 0
RH RH COM	87,000	$15.6M	2.2%	—	$181.93	-37.52%	1 qtr	New 76
OPTU ALTICE USA INC	8M	$13.3M	1.8%	—	$2.00	-18.08%	2 qtrssince 2025-Q3	Increased 74

$724.3M

AUM

12

Positions

Q4 2025

Filing

HI score · 1.5/5

Quarterly 13F Value Change

Activity profile

$ moved · Q4'25

New3%Increased6%Decreased1%Exited91%

Composition

Equity vs derivatives

Equity100%Puts0%Calls0%

Holding period

Avg 2.4 years

<1Q17%1-4Q17%1-2Y33%2Y+33%

KING STREET CAPITAL MANAGEMENT, L.P. manages $724.3M across 12 positions as of Q4 2025. Top holdings: SGRY (21.8%), BA (19.9%), BOEING CO DEP CONV PFD A (16.3%). Fund DNA: Momentum Trader. HoldingsIntel Score: 1.5/5.0.

Position Outcomes

Best and worst performing positions by estimated return

Top Winners

BA5Q held

BOEING CO

Avg $179.31 · $25.1M est. P&L

—

Est. P&L

+21.08%

UNIT2Q held

UNITI GROUP LLC

Avg $6.04 · $2.2M est. P&L

—

Est. P&L

+14.57%

AGNC2Q held

AGNC INVT CORP

Avg $9.22 · $1.5M est. P&L

—

Est. P&L

+5.05%

Top Losers

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Cost basis estimates based on full filing history using quarter-end prices. Actual transaction prices are not disclosed in 13F filings.