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KC

Kepos Capital Portfolio holdings

AUM $61.3M
1-Year Est. Return 12.13%
This Fund
S&P 500
This Quarter Est. Return
+5.66%
1 Year Est. Return
+12.13%
3 Year Est. Return
+22.16%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$308M
AUM Growth
-$257M
Cap. Flow
-$269M
Cap. Flow %
-87.21%
Top 10 Hldgs %
43.96%
Holding
323
New
36
Increased
74
Reduced
42
Closed
100

Top Buys

Rank Stock Value
1
PXD
Pioneer Natural Resource Co.
PXD
+$17.6M
2
X
US Steel
X
+$9.09M
3
UNP icon
Union Pacific
UNP
+$8.24M
4
LSXMK
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
+$7.87M
5
CLBR.U
Colombier Acquisition Corp. II Units, each consisting of one Class A ordinary share and one-third of one redeemable warrant
CLBR.U
+$6.03M

Top Sells

Rank Stock Value
1
VNQ icon
Vanguard Real Estate ETF
VNQ
+$108M
2
ATVI
Activision Blizzard
ATVI
+$60.9M
3
LBRDK icon
Liberty Broadband Class C
LBRDK
+$25.2M
4
TMUS icon
T-Mobile US
TMUS
+$14M
5
AQN icon
Algonquin Power & Utilities
AQN
+$8.74M

Sector Composition

Rank Sector Weight
1 Financials 40.99%
2 Industrials 16.86%
3 Energy 7.51%
4 Technology 6.95%
5 Materials 6.86%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BETRW icon
226
Better Home & Finance Warrant
BETRW
$2.2M
– –
-99,998
Closed -$11K
BLKB icon
227
Blackbaud
BLKB
$1.94B
– –
-45,000
Closed -$3.16M
BMY icon
228
Bristol-Myers Squibb
BMY
$133B
– –
-641
Closed -$37K
BNZI icon
229
Banzai International
BNZI
$6.13M
– –
-33
Closed -$3.49M
BTM
230
DELISTED
Bitcoin Depot
BTM
– –
-19,976
Closed -$368K
CDT icon
231
CDT Equity Inc
CDT
$1.85M
– –
0
– -$9K
CHRW icon
232
C.H. Robinson
CHRW
$17.4B
– –
-50,000
Closed -$4.31M
CLNN icon
233
Clene
CLNN
$64M
– –
-6,566
Closed -$65K
CVS icon
234
CVS Health
CVS
$133B
– –
-75,000
Closed -$5.24M
DIS icon
235
Walt Disney
DIS
$167B
– –
-50,000
Closed -$4.05M
ECDA
236
DELISTED
ECD Automotive Design
ECDA
– –
-1,000
Closed -$2.12M
ELBM
237
Electra Battery Materials
ELBM
$54.9M
– –
-42,500
Closed -$105K
ERII icon
238
Energy Recovery
ERII
$446M
– –
-2,587
Closed -$55K
ES icon
239
Eversource Energy
ES
$26.9B
– –
-35
Closed -$2K
FCX icon
240
Freeport-McMoran
FCX
$90B
– –
-100,000
Closed -$3.73M
GMED icon
241
Globus Medical
GMED
$10.7B
– –
-85,000
Closed -$4.22M
GOOG icon
242
Alphabet (Google) Class C
GOOG
$4.36T
– –
-25,000
Closed -$3.3M
GT icon
243
Goodyear
GT
$2B
– –
-50,000
Closed -$622K
HWKN icon
244
Hawkins
HWKN
$2.67B
– –
-896
Closed -$53K
KBR icon
245
KBR
KBR
$4.62B
– –
-28,075
Closed -$1.66M
KDP icon
246
Keurig Dr Pepper
KDP
$42.3B
– –
-1,213
Closed -$38K
LLYVK icon
247
Liberty Live Group Series C
LLYVK
$9.07B
– –
-95,840
Closed -$3.08M
MANU icon
248
Manchester United
MANU
$3.97B
– –
-175,000
Closed -$3.46M
MSAIW icon
249
MultiSensor AI Holdings Warrant
MSAIW
– –
-776,750
Closed -$22K
MX icon
250
Magnachip Semiconductor
MX
$119M
– –
-150,000
Closed -$1.25M
8 9
10
11 12

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ACM
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BGPJL
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Kepos Capital's Q4 2023 Portfolio in Review

As of Q4 2023, Kepos Capital held 323 positions worth $308M, down 45% from $565M the previous quarter. Its ten largest holdings account for 44% of the portfolio.

Kepos Capital withdrew a net $269M in Q4 2023, closing 100 positions and reducing 42 holdings. Its most notable exit was Vanguard Real Estate ETF, an estimated $108M position sold in full.

By sector, the portfolio is most concentrated in Financials at 41% of assets, up from 25% a quarter earlier, followed by Industrials and Energy.

Against the trend, Kepos Capital opened a new position in US Steel worth $12.2M.

  • Kepos Capital's largest Q4 2023 buy was US Steel: 250,000 shares worth $12.2M.
  • Kepos Capital added most to Pioneer Natural Resource Co. in Q4 2023, an estimated $17.6M increase.
  • Kepos Capital's biggest Q4 2023 reduction was Liberty Broadband Class C, cutting an estimated $25.2M.
  • Kepos Capital fully exited Vanguard Real Estate ETF in Q4 2023, selling an estimated $108M.
  • Kepos Capital's ten largest holdings make up 44% of its $308M portfolio in Q4 2023.
  • Kepos Capital opened 36 new positions and closed 100 in Q4 2023.
  • Kepos Capital's portfolio value fell 45% quarter-over-quarter to $308M.

Based on Kepos Capital's 13F filing for Q4 2023, filed 12 Feb 2024.