MKP Capital Management, L.L.C.
Registered adviserRegulatory profile
From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.
| Rosters | Regulatory AUM | Main clients |
|---|---|---|
| Apr 2026 to Nov 2026 | $12,852,553,163 | Governments and sovereign funds (58%) |
| Jan 2026 to Mar 2026 | $9,919,906,894 | Governments and sovereign funds (66%) |
| Apr 2025 to Dec 2025 | $9,919,906,894 | Governments and sovereign funds (66%) |
| Apr 2024 to Mar 2025 | $6,400,280,360 | Pooled investment vehicles (100%) |
| May 2023 to Mar 2024 | $5,194,952,470 | Pooled investment vehicles (100%) |
| Apr 2023 | $5,194,952,470 | Pooled investment vehicles (100%) |
Portfolio style
Measured from the filed 13F common-share book for Jun 30, 2026, the newest measured quarter, never from the firm's own description.
Closest benchmark: every 13F filer's combined book, active share 87.2%; sector active share 69.8% against the combined 13F book's sector weights.
Over time 26 measured quarters
How the bands are measured
Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.
Clone Performance
Build a hypothetical price-return history from this filer's public 13F holdings.
View clone backtestPortfolio Concentration
21 tracked positions · as of Sep 30, 2026 · Δ vs Jun 30, 2026Portfolio Trend
Sector Breakdown
As of Sep 30, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Unclassified | 65.5% | $2,187,859,829 |
| Financial Services | 14.6% | $488,751,405 |
| Consumer Cyclical | 8.2% | $274,189,575 |
| Technology | 6.0% | $201,810,539 |
| Communication Services | 3.9% | $128,948,794 |
| Consumer Defensive | 1.8% | $61,226,546 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| EWZ | iShares MSCI Brazil ETF | +2,317,762 | 3,327,762 | $123,959,134 | |
| AMZN | Amazon Com Inc | +880,675 | 1,100,500 | $274,189,575 | |
| VFLO | VictoryShares Free Cash Flow ETF | +342,700 | 561,700 | $28,753,423 | |
| GS | Goldman Sachs Group Inc | +206,000 | 323,000 | $290,816,280 | |
| CRDO | Credo Technology Group Holding Ltd | +9,550 | 20,000 | $3,895,800 | |
| SMH | VanEck Semiconductor ETF | +2,357 | 46,257 | $28,170,513 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| RSP | Victory Portfolios II | −1,677,893 | 128,107 | $0 | |
| SPYM | State Street(R) SPDR(R) Portfolio S&P 500(R) ETF | −1,243,400 | 10,407,000 | $934,132,320 | |
| IVV | iShares Core S&P 500 ETF | −351,000 | 828,376 | $634,411,759 | |
| NVDA | Nvidia Corp | −81,100 | 22,900 | $5,229,902 | |
| GDX | VanEck Gold Miners ETF | −53,500 | 659,000 | $57,860,200 | |
| EWY | iShares Trust | −8,570 | 34,678 | $0 | |
| BRK-B | Berkshire Hathaway Inc | −8,000 | 397,500 | $197,935,125 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| VEU | Vanguard International Equity Index Funds | 2,750,000 | $228,167,500 | |
| AAPL | Apple Inc. | 492,000 | $163,845,840 | |
| META | Meta Platforms, Inc. | 92,300 | $66,934,114 | |
| EEM | iShares MSCI Emerging Markets ETF | 952,000 | $63,584,080 | |
| GOOG | Alphabet Inc. | 182,000 | $62,014,680 | |
| WMT | Walmart Inc. | 589,170 | $61,226,546 | |
| AMAT | Applied Materials Inc | 8,500 | $4,346,730 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| JPM | Jpmorgan Chase & Co | 1,423,000 | $465,790,590 | |
| C | Citigroup Inc | 942,000 | $131,842,320 | |
| MSFT | Microsoft Corp | 342,500 | $127,759,350 | |
| XLI | State Street(R) Industrial Select Sector SPDR(R) ETF | 207,500 | $38,435,225 | |
| EWJ | iShares MSCI Japan ETF | 159,300 | $14,857,911 | |
| INDA | iShares MSCI India ETF | 202,000 | $9,976,780 | |
| AVGO | Broadcom Inc. | 24,000 | $9,066,000 | |
| VRT | Vertiv Holdings Co | 8,200 | $2,745,524 | |
| GEV | GE Vernova Inc. | 2,245 | $2,637,560 | |
| No positions match the current search. | ||||
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| SPYM |
State Street(R) SPDR(R) Portfolio S&P 500(R) ETF
|
Reduced | 10,407,000 | $934,132,320 | 27.94% | |
| IVV |
iShares Core S&P 500 ETF
|
Reduced | 828,376 | $634,411,759 | 18.98% | |
| GS |
Goldman Sachs Group Inc
Financial Services
|
Added | 323,000 | $290,816,280 | 8.70% | |
| AMZN |
Amazon Com Inc
Consumer Cyclical
|
Added | 1,100,500 | $274,189,575 | 8.20% | |
| VEU |
Vanguard International Equity Index Funds
|
NEW | 2,750,000 | $228,167,500 | 6.83% | |
| BRK-B |
Berkshire Hathaway Inc
Financial Services
|
Reduced | 397,500 | $197,935,125 | 5.92% | |
| AAPL |
Apple Inc.
Technology
|
NEW | 492,000 | $163,845,840 | 4.90% | |
| EWZ |
iShares MSCI Brazil ETF
CALL
+ SHARES
|
Added | 3,985,762 | $148,469,634 | 4.44% | |
| SMH |
VanEck Semiconductor ETF
PUT
+ SHARES
|
Added | 151,857 | $92,480,913 | 2.77% | |
| META |
Meta Platforms, Inc.
Communication Services
|
NEW | 92,300 | $66,934,114 | 2.00% | |
| EEM |
iShares MSCI Emerging Markets ETF
|
NEW | 952,000 | $63,584,080 | 1.90% | |
| GOOG |
Alphabet Inc.
Communication Services
|
NEW | 182,000 | $62,014,680 | 1.86% | |
| WMT |
Walmart Inc.
Consumer Defensive
|
NEW | 589,170 | $61,226,546 | 1.83% | |
| GDX |
VanEck Gold Miners ETF
|
Reduced | 659,000 | $57,860,200 | 1.73% | |
| VFLO |
VictoryShares Free Cash Flow ETF
|
Added | 561,700 | $28,753,423 | 0.86% | |
| MRVL |
Marvell Technology, Inc.
CALL
Technology
|
NEW | 92,700 | $24,492,267 | 0.73% | |
| NVDA |
Nvidia Corp
Technology
|
Reduced | 22,900 | $5,229,902 | 0.16% | |
| AMAT |
Applied Materials Inc
Technology
|
NEW | 8,500 | $4,346,730 | 0.13% | |
| CRDO |
Credo Technology Group Holding Ltd
Technology
|
Added | 20,000 | $3,895,800 | 0.12% | |
| RSP |
Victory Portfolios II
|
Reduced | 128,107 | $0 | 0.00% | |
| EWY |
iShares Trust
|
Reduced | 34,678 | $0 | 0.00% |
Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.