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Hedge fund

MKP Capital Management, L.L.C.

13F for the quarter to June 30, 2026, filed August 7, 2026 · SEC CIK 1534949

Reported value
$3.6bn
26% in companies we cover
Positions we cover
10
Largest JPM 12.8%
Copy, a year
+1.1%
S&P 500 +14.1%
Copy Sharpe ratio
0.13
S&P 500 0.78

How copying its 13F would have done

$5.0k$10.0k$20.0k$40.0k 2013201520172019202120232025 $57.0k$11.5k
CopyS&P 500 $10,000 copying MKP Capital Management, L.L.C.'s filed holdings in companies we cover from August 16, 2013, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −74.2% (S&P 500 −31.8%); beta 1.19; alpha −10.9% a year (t = −1.65); last 12 months −9.5% against +12.1%.

Reported value by quarter

MKP Capital Management, L.L.C.: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).
$0 $200B $400B $600B Reported value, 2013-06-30: $0 Reported value, 2013-09-30: $4.8M Reported value, 2013-12-31: $27.4M Reported value, 2014-03-31: $24.6M Reported value, 2014-06-30: $320.3M Reported value, 2014-09-30: $130.9M Reported value, 2014-12-31: $999.5M Reported value, 2015-03-31: $170.9M Reported value, 2015-06-30: $34.3M Reported value, 2015-09-30: $0 Reported value, 2015-12-31: $0 Reported value, 2016-03-31: $3.9M Reported value, 2016-06-30: $1.2M Reported value, 2016-09-30: $24.9M Reported value, 2016-12-31: $99.5M Reported value, 2017-03-31: $495.8M Reported value, 2017-06-30: $11.3M Reported value, 2017-09-30: $718.2M Reported value, 2017-12-31: $608.9M Reported value, 2018-03-31: $50.5M Reported value, 2018-06-30: $1.2M Reported value, 2018-09-30: $330.9M Reported value, 2018-12-31: $573K Reported value, 2019-03-31: $275K Reported value, 2019-06-30: $91.1M Reported value, 2019-09-30: $165.1M Reported value, 2019-12-31: $733.1M Reported value, 2020-03-31: $0 Reported value, 2020-06-30: $115.1M Reported value, 2020-09-30: $380.7M Reported value, 2020-12-31: $1B Reported value, 2021-03-31: $881.7M Reported value, 2021-06-30: $831.5M Reported value, 2021-09-30: $612M Reported value, 2021-12-31: $1.2B Reported value, 2022-03-31: $1.6M Reported value, 2022-06-30: $298.8M Reported value, 2022-09-30: $318.8M Reported value, 2022-12-31: $582.5B Reported value, 2023-03-31: $623.5M Reported value, 2023-06-30: $916.8M Reported value, 2023-09-30: $1.1B Reported value, 2023-12-31: $1.6B Reported value, 2024-03-31: $885.6M Reported value, 2024-06-30: $1.2B Reported value, 2024-09-30: $1.1B Reported value, 2024-12-31: $2B Reported value, 2025-03-31: $1.6B Reported value, 2025-06-30: $1.9B Reported value, 2025-09-30: $2.5B Reported value, 2025-12-31: $2.8B Reported value, 2026-03-31: $3B Reported value, 2026-06-30: $3.6B 2013-06-30 2016-03-31 2018-12-31 2021-09-30 2026-06-30 $3.6B
View chart data
Period Reported value
2013-06-30 $0
2013-09-30 $4.8M
2013-12-31 $27.4M
2014-03-31 $24.6M
2014-06-30 $320.3M
2014-09-30 $130.9M
2014-12-31 $999.5M
2015-03-31 $170.9M
2015-06-30 $34.3M
2015-09-30 $0
2015-12-31 $0
2016-03-31 $3.9M
2016-06-30 $1.2M
2016-09-30 $24.9M
2016-12-31 $99.5M
2017-03-31 $495.8M
2017-06-30 $11.3M
2017-09-30 $718.2M
2017-12-31 $608.9M
2018-03-31 $50.5M
2018-06-30 $1.2M
2018-09-30 $330.9M
2018-12-31 $573K
2019-03-31 $275K
2019-06-30 $91.1M
2019-09-30 $165.1M
2019-12-31 $733.1M
2020-03-31 $0
2020-06-30 $115.1M
2020-09-30 $380.7M
2020-12-31 $1B
2021-03-31 $881.7M
2021-06-30 $831.5M
2021-09-30 $612M
2021-12-31 $1.2B
2022-03-31 $1.6M
2022-06-30 $298.8M
2022-09-30 $318.8M
2022-12-31 $582.5B
2023-03-31 $623.5M
2023-06-30 $916.8M
2023-09-30 $1.1B
2023-12-31 $1.6B
2024-03-31 $885.6M
2024-06-30 $1.2B
2024-09-30 $1.1B
2024-12-31 $2B
2025-03-31 $1.6B
2025-06-30 $1.9B
2025-09-30 $2.5B
2025-12-31 $2.8B
2026-03-31 $3B
2026-06-30 $3.6B

Holdings and moves

CompanyShare of portfolioValueSharesChange in shares
JPMJPMorgan Chase12.84%$465.8m1.42M+762.4% Added
CCitigroup3.63%$131.8m942.0KNew
MSFTMicrosoft Corporation3.52%$127.8m342.5KNew
GSGoldman Sachs3.26%$118.3m117.0KNew
AMZNAmazon1.44%$52.4m219.8K−39.3% Reduced
NVDANVIDIA Corporation0.57%$20.8m104.0KNew
AVGOBroadcom0.25%$9.1m24.0KNew
CRDOCredo Technology Group Holding Ltd0.08%$2.8m10.4KNew
VRTVertiv0.08%$2.7m8.2KNew
GEVGE Vernova0.07%$2.6m2.2KNew
CompanyBought (value)Shares
JPMJPMorgan Chase$411.8m1.26M
CCitigroup$131.8m942.0K
MSFTMicrosoft Corporation$127.8m342.5K
GSGoldman Sachs$118.3m117.0K
NVDANVIDIA Corporation$20.8m104.0K
AVGOBroadcom$9.1m24.0K
CRDOCredo Technology Group Holding Ltd$2.8m10.4K
VRTVertiv$2.7m8.2K
GEVGE Vernova$2.6m2.2K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanySold (value)Shares
AAPLApple Inc.−$163.4m−644.0K
GOOGLAlphabet Inc. (Class A)−$71.9m−250.0K
CRWVCoreweave, Inc.−$44.9m−580.0K
BEBloom Energy−$41.6m−307.0K
BSXBoston Scientific−$34.4m−549.0K
AMZNAmazon−$33.9m−142.3K
ASMLAsml Holding NV−$33.0m−25.0K
TMOThermo Fisher Scientific−$29.5m−60.0K
SCHWCharles Schwab Corporation−$28.2m−300.0K
DVNDevon Energy−$4.8m−95.1K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanyValue last quarterShares
AAPLApple Inc.$163.4m644.0K
GOOGLAlphabet Inc. (Class A)$71.9m250.0K
CRWVCoreweave, Inc.$44.9m580.0K
BEBloom Energy$41.6m307.0K
BSXBoston Scientific$34.4m549.0K
ASMLAsml Holding NV$33.0m25.0K
TMOThermo Fisher Scientific$29.5m60.0K
SCHWCharles Schwab Corporation$28.2m300.0K
DVNDevon Energy$4.8m95.1K
  • Financials76.6%
  • Technology17.2%
  • Consumer Discretionary5.6%
  • Industrials0.6%

Share of the value held in companies we cover, by sector.

PeriodCopy, a yearS&P 500SharpeS&P 500Biggest dropBeta
Whole backtestAugust 16, 2013 to November 2, 2026+1.1%+14.1%0.130.78−74.2%1.19
2018 onwardsJanuary 5, 2018 to November 2, 2026+0.7%+13.9%0.130.66−70.6%1.34
Last three yearsNovember 3, 2023 to November 2, 2026+25.4%+21.8%0.791.16−32.1%1.48
Last yearNovember 7, 2025 to November 2, 2026−8.7%+14.2%−0.580.84−16.1%1.27

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.