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Kepos Capital LP
Kepos Capital LP is a New York-based hedge fund founded in 2010, employing approximately 45 people. The firm specializes in systematic, quantitative investment strategies across equities, fixed income, commodities, and currencies. Kepos Capital serves primarily institutional clients through discretionary investment management, offering research-driven, data-centric solutions using advanced technologies and algorithms to identify and exploit global market opportunities. It is co-led by Mark Carhart and Giorgio De Santis, with a strong emphasis on a research-focused and diversified approach across multiple asset classes and strategies.
Investment Strategy
Kepos Capital employs a systematic and data-driven investment process that combines economic theory, statistical analysis, and advanced algorithms to identify lucrative market opportunities. The firm's primary focus is on quantitative, global macro investing, seeking to capture alpha across asset classes such as global equities, fixed income, currencies, commodities, volatility, and cross-asset strategies. Proprietary research and empirical evidence support strategy development, and risk management emphasizes diversification and liquidity. While largely driven by systematic methods, some strategies integrate economic intuition and investing experience for select client portfolios.
Latest 13F Filing Activity
Kepos Capital LP filed their most recent 13F report on Jun 30, 2025 disclosing 34 equity positions with a total 13F market value of $75M. The fund increased holdings in Gigcapital7 Corp., Cme Group Inc., Fact II Acquisition Corp. among other positions. Kepos Capital LP reduced exposure to GSR III Acquisition Corp., Newbury Street II Acquisition Corp., Acuren Corp. among others.
Top Holdings
Equity Positions (34)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
G GIG | GigCapital7 Corp | 21.07% | $15.7M | 1,514,600 | $9.93 | $10.38 | +$319.0K |
D DRDB | Roman DBDR Acquisition Corp II | 13.54% | $10.1M | 980,000 | $10.03 | $10.31 | -$5.9M |
F FACT | Fact II Acquisition Corp | 13.49% | $10.1M | 975,700 | $10.02 | $10.29 | +$287.0K |
E EQV | EQV Ventures Acquisition Corp | 12.82% | $9.6M | 910,000 | $10.08 | $10.51 | -$3.4M |
C CME | CME Group Inc | 11.08% | $8.3M | 30,000 | $185.49 | $275.62 | +$310.0K |
Industry Allocation
Investment Team (14)
| Name | Role | Location | |
|---|---|---|---|
 | Senior Portfolio Manager | New York, NY , United States | |
B Bernard Yoo | Portfolio Manager and Researcher | New York, NY , United States | |
 | Portfolio Manager and Researcher | New York, NY , United States | |
 | Analyst | Greenwich, CT , United States | |
 | Founding Partner and Chief Investment Officer | New York, NY , United States | |
 | Quantitative Researcher | New York, NY , United States | |
 | Trader | Miami, FL , United States | |
 | Portfolio Manager | New York, NY , United States | |
E Ernest Asp | Senior Trader | New York, NY , United States | |
 | Researcher and Portfolio Manager | United States |
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