MKP Capital Management, L.L.C. Hedge Fund

CIK: 0001534949 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 10, 2026

Total Value ($000): $2,809,443 (100.0% shares, 0.0% debt)

Holdings (22)

New Positions (16)

RSP INVESCO EXCHANGE TRADED FD T 3.6%

Value ($000) $99,994 Shares 522,000 Est. Cost $191.56 Unrealized —

EEM ISHARES TR 3.2%

Value ($000) $90,983 Shares 1,663,000 Est. Cost $54.71 Unrealized —

BAC BANK AMERICA CORP 2.2%

Value ($000) $60,500 Shares 1,100,000 Est. Cost $52.67 Unrealized 0.0%

KRE SPDR SERIES TRUST 1.7%

Value ($000) $48,329 Shares 745,700 Est. Cost $64.81 Unrealized —

NCLH NORWEGIAN CRUISE LINE HLDG L 1.6%

Value ($000) $44,640 Shares 2,000,000 Est. Cost $21.11 Unrealized 0.0%

C CITIGROUP INC 1.5%

Value ($000) $40,842 Shares 350,000 Est. Cost $103.64 Unrealized 0.0%

ITB ISHARES TR 1.3%

Value ($000) $37,538 Shares 389,800 Est. Cost $96.30 Unrealized —

NDAQ NASDAQ INC 1.2%

Value ($000) $33,996 Shares 350,000 Est. Cost $89.74 Unrealized 0.0%

KWEB KRANESHARES TRUST 1.1%

Value ($000) $30,417 Shares 893,310 Est. Cost $34.05 Unrealized —

XLF SELECT SECTOR SPDR TR 1.0%

Value ($000) $28,006 Shares 511,340 Est. Cost $54.77 Unrealized —

HOOD ROBINHOOD MKTS INC 0.8%

Value ($000) $22,620 Shares 200,000 Est. Cost $130.05 Unrealized 0.0%

NFLX NETFLIX INC 0.7%

Value ($000) $18,752 Shares 200,000 Est. Cost $107.81 Unrealized 0.0%

COO COOPER COS INC 0.6%

Value ($000) $16,392 Shares 200,000 Est. Cost $74.85 Unrealized 0.0%

CTSH COGNIZANT TECHNOLOGY SOLUTIO 0.4%

Value ($000) $12,450 Shares 150,000 Est. Cost $74.65 Unrealized 0.0%

KBWB INVESCO EXCH TRADED FD TR II 0.3%

Value ($000) $8,429 Shares 100,000 Est. Cost $84.29 Unrealized —

OWL BLUE OWL CAPITAL INC 0.3%

Value ($000) $7,390 Shares 494,639 Est. Cost $15.64 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
RSP	INVESCO EXCHANGE TRADED FD T	522,000	$99,994	3.6%	$191.56	—	S&P500 EQL WGT	46137V357
EEM	ISHARES TR	1,663,000	$90,983	3.2%	$54.71	—	MSCI EMG MKT ETF	464287234
BAC	BANK AMERICA CORP	1,100,000	$60,500	2.2%	$52.67	0.0%	COM	060505104
KRE	SPDR SERIES TRUST	745,700	$48,329	1.7%	$64.81	—	STATE STREET SPD	78464A698
NCLH	NORWEGIAN CRUISE LINE HLDG L	2,000,000	$44,640	1.6%	$21.11	0.0%	SHS	G66721104
C	CITIGROUP INC	350,000	$40,842	1.5%	$103.64	0.0%	COM NEW	172967424
ITB	ISHARES TR	389,800	$37,538	1.3%	$96.30	—	US HOME CONS ETF	464288752
NDAQ	NASDAQ INC	350,000	$33,996	1.2%	$89.74	0.0%	COM	631103108
KWEB	KRANESHARES TRUST	893,310	$30,417	1.1%	$34.05	—	CSI CHI INTERNET	500767306
XLF	SELECT SECTOR SPDR TR	511,340	$28,006	1.0%	$54.77	—	STATE STREET FIN	81369Y605
HOOD	ROBINHOOD MKTS INC	200,000	$22,620	0.8%	$130.05	0.0%	COM CL A	770700102
NFLX	NETFLIX INC	200,000	$18,752	0.7%	$107.81	0.0%	COM	64110L106
COO	COOPER COS INC	200,000	$16,392	0.6%	$74.85	0.0%	COM	216648501
CTSH	COGNIZANT TECHNOLOGY SOLUTIO	150,000	$12,450	0.4%	$74.65	0.0%	CL A	192446102
KBWB	INVESCO EXCH TRADED FD TR II	100,000	$8,429	0.3%	$84.29	—	KBW BK ETF	46138E628
OWL	BLUE OWL CAPITAL INC	494,639	$7,390	0.3%	$15.64	0.0%	COM CL A	09581B103

Increased Positions (2)

IVV ISHARES TR 68.0%

Value ($000) $1,911,443 (+47.3%) Shares 2,790,672 (+43.9%) Est. Cost $621.96 Unrealized —

EWZ ISHARES INC 2.6%

Value ($000) $72,655 (+5.6%) Shares 2,286,900 (+3.0%) Est. Cost $31.02 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IVV	ISHARES TR	2,790,672 (+43.9%)	$1,911,443 (+47.3%)	68.0%	$621.96	—	CORE S&P500 ETF	464287200
EWZ	ISHARES INC	2,286,900 (+3.0%)	$72,655 (+5.6%)	2.6%	$31.02	—	MSCI BRAZIL ETF	464286400

Exited Positions (6)

AMZN AMAZON COM INC 9.0%

Value ($000) $252,905 Shares 1,151,820 Est. Cost $206.30 Unrealized +10.9%

TJX TJX COS INC NEW 3.1%

Value ($000) $86,724 Shares 600,000 Est. Cost $132.28 Unrealized +11.7%

COF CAPITAL ONE FINL CORP 2.8%

Value ($000) $79,718 Shares 375,000 Est. Cost $217.80 Unrealized +2.0%

FXI ISHARES TR 2.3%

Value ($000) $64,178 Shares 1,560,000 Est. Cost $41.14 Unrealized —

PG PROCTER AND GAMBLE CO 0.9%

Value ($000) $24,277 Shares 158,000 Est. Cost $160.77 Unrealized -8.5%

FXI ISHARES TR 0.7%

Value ($000) $20,948 Shares 509,200 Est. Cost $41.14 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AMZN	AMAZON COM INC	1,151,820	$252,905	9.0%	$206.30	+10.9%	—	023135106
TJX	TJX COS INC NEW	600,000	$86,724	3.1%	$132.28	+11.7%	—	872540109
COF	CAPITAL ONE FINL CORP	375,000	$79,718	2.8%	$217.80	+2.0%	—	14040H105
FXI	ISHARES TR	1,560,000	$64,178	2.3%	$41.14	—	CALL	464287184
PG	PROCTER AND GAMBLE CO	158,000	$24,277	0.9%	$160.77	-8.5%	—	742718109
FXI	ISHARES TR	509,200	$20,948	0.7%	$41.14	—	PUT	464287184

Decreased Positions (4)

AAPL APPLE INC 1.3%

Value ($000) $35,342 (-90.0%) Shares 130,000 (-90.6%) Est. Cost $225.58 Unrealized +19.0%

MSFT MICROSOFT CORP 1.4%

Value ($000) $38,690 (-69.0%) Shares 80,000 (-66.8%) Est. Cost $475.43 Unrealized +5.3%

FXI ISHARES TR 3.1%

Value ($000) $87,437 (-27.3%) Shares 2,283,547 (-21.9%) Est. Cost $41.14 Unrealized —

GOOGL ALPHABET INC 2.2%

Value ($000) $62,600 (-26.8%) Shares 200,000 (-43.2%) Est. Cost $209.20 Unrealized +36.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AAPL	APPLE INC	130,000 (-90.6%)	$35,342 (-90.0%)	1.3%	$225.58	+19.0%	COM	037833100
MSFT	MICROSOFT CORP	80,000 (-66.8%)	$38,690 (-69.0%)	1.4%	$475.43	+5.3%	COM	594918104
FXI	ISHARES TR	2,283,547 (-21.9%)	$87,437 (-27.3%)	3.1%	$41.14	—	CHINA LG-CAP ETF	464287184
GOOGL	ALPHABET INC	200,000 (-43.2%)	$62,600 (-26.8%)	2.2%	$209.20	+36.5%	CAP STK CL A	02079K305