<SEC-DOCUMENT>0000895345-25-000356.txt : 20251114
<SEC-HEADER>0000895345-25-000356.hdr.sgml : 20251114
<ACCEPTANCE-DATETIME>20251114115231
ACCESSION NUMBER:		0000895345-25-000356
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20251114
DATE AS OF CHANGE:		20251114

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Surgery Partners, Inc.
		CENTRAL INDEX KEY:			0001638833
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-GENERAL MEDICAL & SURGICAL HOSPITALS, NEC [8062]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		EIN:				473620923
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-89294
		FILM NUMBER:		251483131

	BUSINESS ADDRESS:	
		STREET 1:		310 SEVEN SPRINGS WAY
		STREET 2:		SUITE 500
		CITY:			BRENTWOOD
		STATE:			TN
		ZIP:			37027
		BUSINESS PHONE:		615-234-5900

	MAIL ADDRESS:	
		STREET 1:		310 SEVEN SPRINGS WAY
		STREET 2:		SUITE 500
		CITY:			BRENTWOOD
		STATE:			TN
		ZIP:			37027

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KING STREET CAPITAL MANAGEMENT, L.P.
		CENTRAL INDEX KEY:			0001218199
		ORGANIZATION NAME:           	
		EIN:				133978904
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G

	BUSINESS ADDRESS:	
		STREET 1:		299 PARK AVENUE
		STREET 2:		40TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10171
		BUSINESS PHONE:		212-812-3100

	MAIL ADDRESS:	
		STREET 1:		299 PARK AVENUE
		STREET 2:		40TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10171

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KING STREET CAPITAL MGMT LLC
		DATE OF NAME CHANGE:	20030211
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G
<SEQUENCE>1
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<securitiesClassTitle>Common Stock, par value $0.01 per share</securitiesClassTitle>
<eventDateRequiresFilingThisStatement>10/30/2025</eventDateRequiresFilingThisStatement>
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<issuerCik>0001638833</issuerCik>
<issuerName>Surgery Partners, Inc.</issuerName>
<issuerCusip>86881A100</issuerCusip>
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<com:street1>340 Seven Springs Way</com:street1>
<com:street2>Suite 600</com:street2>
<com:city>Brentwood</com:city>
<com:stateOrCountry>TN</com:stateOrCountry>
<com:zipCode>37027</com:zipCode>
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<designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
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<reportingPersonName>King Street Capital Management, L.P.</reportingPersonName>
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<soleVotingPower>0</soleVotingPower>
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<classPercent>7.2</classPercent>
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<reportingPersonName>King Street Capital Management GP, L.L.C.</reportingPersonName>
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<classPercent>7.2</classPercent>
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<reportingPersonName>Brian J. Higgins</reportingPersonName>
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<issuerName>Surgery Partners, Inc.</issuerName>
<issuerPrincipalExecutiveOfficeAddress>340 Seven Springs Way, Suite 600, Brentwood, Tennessee, 37027</issuerPrincipalExecutiveOfficeAddress>
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<item2>
<filingPersonName>This Schedule 13G is being jointly filed by King Street Capital Management, L.P. ("KSCM"), King Street Capital Management GP, L.L.C. ("KSCM GP"), and Brian J. Higgins. KSCM, KSCM GP and Mr. Higgings are colletively referred to herein as the "Reporting Persons."</filingPersonName>
<principalBusinessOfficeOrResidenceAddress>The principal business address of each of the Reporting Persons is:&#13;
 &#13;
299 Park Avenue, 40th Floor&#13;
New York, NY 10171</principalBusinessOfficeOrResidenceAddress>
<citizenship>KSCM is a limited partnership organized under the laws of the State of Delaware, U.S.A. KSCM GP is a limited liability company organized under the laws of the State of Delaware, U.S.A. Mr. Higgins is a United States citizen.</citizenship>
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<amountBeneficiallyOwned>The information required by Items 4(a) - (c) is set forth in Rows 5 - 11 of the cover page for each of the Reporting Persons and is incorporated herein by reference.</amountBeneficiallyOwned>
<classPercent>The percentages set forth in this Schedule 13G are calculated based upon an aggregate of 129,341,779 shares of common stock outstanding as of November 3, 2025, as reported in the Company's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025, filed with the Securities and Exchange Commission on November 10, 2025.</classPercent>
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<subsidiaryIdentificationAndClassification>KSCM, a registered investment advisor, is the investment manager of various fund entities. As investment manager, KSCM has sole voting and dispositive power over the common stock reported hereunder. KSCM GP is the sole general partner of KSCM and Mr. Higgins is the managing member of KSCM GP.</subsidiaryIdentificationAndClassification>
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<certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
</item10>
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<exhibitInfo>Exhibit A - Joint Filing Agreement</exhibitInfo>
<signatureInformation>
<reportingPersonName>King Street Capital Management, L.P.</reportingPersonName>
<signatureDetails>
<signature>/s/ Richardo Marano</signature>
<title>Chief Compliance Officer</title>
<date>11/14/2025</date>
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<reportingPersonName>King Street Capital Management GP, L.L.C.</reportingPersonName>
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<signature>/s/ Ricardo Marano</signature>
<title>Authorized Signatory</title>
<date>11/14/2025</date>
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<reportingPersonName>Brian J. Higgins</reportingPersonName>
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<signature>/s/ Brian J. Higgins</signature>
<title>Brian J. Higgins</title>
<date>11/14/2025</date>
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<DOCUMENT>
<TYPE>EX-99.A
<SEQUENCE>2
<FILENAME>ex-99_a.htm
<DESCRIPTION>JOINT FILING AGREEMENT
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        <div style="text-align: left;">The undersigned King Street Capital Management, L.P., King Street Capital Management GP, L.L.C., and Brian J. Higgins hereby agree and acknowledge that the information required by this Schedule 13G, to which this
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