Shai Gilgeous-Alexander and the Oklahoma City Thunder were 35-7 last season, as the defending champions doubled up at the start of the second half of the 2025-26 campaign with the same record. No easy task for a team receiving every team's best effort, especially after a historic 24-1 start. And after losing half a dozen games amid a 12-game stretch, Gilgeous-Alexander and the Thunder extended a five-game winning streak in the second half of the regular season.
How much better can the defending champion Thunder get between now and the end of the regular season? Believe it or not, there's still room for growth considering Gilgeous-Alexander's leading his third consecutive MVP race this year, Chet Holmgren's All-Star production, and other intriguing sub-plots that round out Oklahoma City's dominance atop of the Western Conference.
Here are four Thunder storylines to keep an eye on in the second half of the 2025-26 season.
1. Shai Gilgeous-Alexander's signature MVP finish
Thunder guard Jalen Williams (8) and guard Shai Gilgeous-Alexander (2) react after a play during the third quarter against the Houston Rockets at Toyota Center
Troy Taormina-Imagn Images
Thunder All-Star Shai Gilgeous-Alexander nearly saw his historic streak of scoring 20+ points come to an end in Thursday's 111-91 win against the Rockets. It was Gilgeous-Alexander's closest call to seeing his streak, which reached 112 games, come to an end. SGA is 14 consecutive 20-point games away from tying Hall of Famer Wilt Chamberlain's 126-game streak.
Gilgeous-Alexander is having arguably the best season of his career. He's averaging 31.6 points on a career-best 54.4% shooting, including 39.2% from deep, 6.3 assists, 4.4 rebounds, and 1.4 steals per game. The Thunder entered the second half with a league-best point differential of 13.2, outscoring opponets by a league-record 12.9 points per game.
Shai Gilgeous-Alexander and the Thunder aren't just bullying teams into run-away victories, as he made an epic block on Spurs All-Star Victor Wembanyama in a 119-98 win against Rockets, he's getting his teammates involved in a team effort. Plus, Gilgeous-Alexander and the Thunder are only getting better.
2. Chet Holmgren's breakout season for Thunder
Thunder starting forward Chet Holmgren wasted little time after winning a championship in only his third season. Less than two weeks after Oklahoma City's first NBA championship parade, Holmgren was back in the gym working on his game for 2025-26. And his hardwork has paid off, as he's averaging a career-best in points (17.9), field-goal percentage (57.5%), 3-point shooting percentage (37.4%), and rebounds (8.4). He's also averaging 1.9 blocks per game.
“Part of it is — over the summer — building your body to be able to do what it needs asked to do. But it was also working on all of the technical things — the shot, where I want to be more effective on the court, inside the 3-point line, outside the 3-point line, transitions; everything,” Holmgren said. “And then, just coming into the season with an understanding that I’ve worked on things in the summer, but everybody else was working on their own things in the summer.
“Now, over the course of the season, we have to have great attention to learning everybody’s improvements, and how to play with each other now that everybody’s better at different things.”
Holmgren also leads the league with the best player defensive rating (103.6) amid the first season he's received serious All-Star consideration. In many ways, his acension this season reminds fans of Jalen Williams' 2024-25 campaign. Williams reached both accomplishments for the first time last season, and was named to the All-NBA Third Team.
Holmgren, who missed his entire rookie campaign, is in his third active season, as Williams' last year. Chet is on pace to receive similar honors, watching it unfold will be the fun part.
3. Isaiah Hartenstein's return to Thunder starting lineup
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Thunder center Isaiah Hartenstein (55) and center Chet Holmgren (7) during the third quarter at FedExForum
Petre Thomas-Imagn Images
Heading into the regular season, it was difficult to believe that Isaiah Hartenstein and Chet Holmgren had only played 20 regular-season games together last season, which is the exact amout of games they've played together, thus far. With 40 games left before the playoffs, Holmgren and Hartenstein should have a much better understanding of how the tandem can impact winning.
The Thunder defense's intensity is turned up a notch when these two seven footers are on the floor together. With devastating rim protection on one end of the floor, and unlimited lob opportunities on the other, the two present matchup issues for opposing teams. Holmgren's improved outside shot adds to the Thunder's spacing, while Hartenstein playmaking abilities has only been exenuated by the defending champions' elite offensive talents around.
As the rebounding struggles continue for the defending champions, Hartenstein's return should correct those lopsided margins, and strengthen the Thunder's execution in the 2025-26 season, as the league's best defense with an explosive offense.
4. The growth of Thunder's second unit
Thunder guard Ajay Mitchell (25) reacts with guard Aaron Wiggins (21) during the fourth quarter against the Memphis Grizzlies at FedExForum
Petre Thomas-Imagn Images
As starting center Isaiah Hartenstein misses his 11th consecutive game due to a strained right calf, Thunder reserves Kenrich Williams, Jaylin Williams, and Branden Carlson have all taken turns in and out of the starting lineup. Coach Mark Daigneault instills confidence in his second unit, as its depth was on full display amid Jalen Williams missing the season's first 19 games, Lu Dort's injuries (right adductor strain, right upper trap strain), and Hartenstein.
Daigneault leads one of the more dynamic second units in the league, as the defending champions roster at least three reserves who could start for half of the teams in the NBA. Cason Wallace is tied with Clippers' Kawhi Leonard for first in steals per game (2.2) and is second in deflections (4.5), according to NBA.com. Wallace has emerged as one of the Thunder's better on-ball defenders in the backcourt, joining the likes of starter Lu Dort and Alex Caruso.
All three guards can also shoot. The Thunder's bench is fifth in 3-pointers made (6.6) and leads the league in 3-point attempts, according to StatMuse. Defensively, Oklahoma City's second unit is fourth in steals with 173. Ajay Mitchell, a second-round pick in his sophomore season, has 57 steals halfway through the regular season.
And as his breakout campaign simmers to a sustainable level of production, he's still averaging 14.2 points on 48.4% shooting, 3.6 assists, 3.5 rebounds, and 1.4 steals per game.