Kingstown Capital Management: 13F holdings, Q3 2022
Concentrated value · SEC EDGAR filings (CIK 0001458425) · Explore on the interactive board
Kingstown Capital Management disclosed 47 US equity positions worth $30.4m in its Q3 2022 13F filing (holdings as of September 30, 2022, filed November 14, 2022). Its largest position is INFLECTION POINT ACQUSTN COR at 94.9% of the reported book, followed by PSFE, TH INTERNATIONAL LIMITED. The top ten holdings are 98.4% of the book, and the portfolio behaves like about 1 equal-weight positions. Versus the prior filing it opened 3 new positions, added to 0, reduced 2 and exited 19. Note: this manager's most recent filing is 15 quarters behind the newest quarter on file, so these figures are history rather than current positioning.
What does Kingstown Capital Management own? Top holdings as of September 30, 2022
Change is measured in shares against the previous filing (Q2 2022), so price moves do not read as decisions. This quarter: 3 new, 0 added, 2 reduced, 19 exited.
| # | Stock | Sector | Weight | Value | Shares | Δ shares | Action |
|---|---|---|---|---|---|---|---|
| 1 | INFLECTION POINT ACQUSTN COR | 94.9% | $28.9m | 2,900,000 | 0% | held | |
| 2 | PSFE PAYSAFE LIMITED | Technology | 1.4% | $414.0k | 300,000 | 0% | held |
| 3 | TH INTERNATIONAL LIMITED | 0.5% | $155.0k | 450,000 | – | new | |
| 4 | BARK BARK INC | 0.5% | $137.0k | 75,000 | 0% | held | |
| 5 | MONDEE HOLDINGS INC | 0.4% | $128.0k | 200,000 | – | new | |
| 6 | CARTESIAN GROWTH CORP | 0.3% | $97.0k | 352,800 | -2% | reduced | |
| 7 | AUSTERLITZ ACQUISITION CORP | 0.1% | $44.0k | 437,000 | 0% | held | |
| 8 | DHC ACQUISITION CORP | 0.1% | $35.0k | 200,000 | 0% | held | |
| 9 | AUSTERLITZ ACQUISITION CORP | 0.1% | $31.0k | 312,853 | 0% | held | |
| 10 | ONE EQUITY PARTNERS OPEN WTR | 0.1% | $27.0k | 301,238 | 0% | held | |
| 11 | ARES ACQUISITION CORPORATION | 0.1% | $27.0k | 235,569 | 0% | held | |
| 12 | PRIMAVERA CAPITAL ACQUIST CO | 0.1% | $26.0k | 202,500 | 0% | held | |
| 13 | PROVIDENT ACQUISITION CORP | 0.1% | $25.0k | 92,470 | 0% | held | |
| 14 | NOBLE ROCK ACQUISITION CORP | 0.1% | $23.0k | 350,000 | 0% | held | |
| 15 | OCA ACQUISITION CORP | 0.1% | $23.0k | 335,869 | 0% | held | |
| 16 | ALPHA TAU MEDICAL LTD | 0.1% | $22.0k | 50,000 | -69% | reduced | |
| 17 | FUSION ACQUISITION CORP II | 0.1% | $20.0k | 275,000 | 0% | held | |
| 18 | VELOCITY ACQUISITION CORP | 0.1% | $20.0k | 225,000 | 0% | held | |
| 19 | SEMANTIX INC | 0.1% | $20.0k | 165,277 | – | new | |
| 20 | HH&L ACQUISITION CO | 0.1% | $18.0k | 325,000 | 0% | held | |
| 21 | ITIQUIRA ACQUISITION CORP | 0.1% | $18.0k | 320,184 | 0% | held | |
| 22 | BIOTECH ACQUISITION COMPANY | 0.1% | $18.0k | 300,000 | 0% | held | |
| 23 | TLG ACQUISITION ONE CORP | 0.1% | $18.0k | 358,975 | 0% | held | |
| 24 | AGILE GROWTH CORP | 0.0% | $14.0k | 225,000 | 0% | held | |
| 25 | KL ACQUISITION CORP | 0.0% | $14.0k | 200,000 | 0% | held | |
| 26 | SCIENCE STRATEGIC ACQ ALPHA | 0.0% | $13.0k | 200,000 | 0% | held | |
| 27 | DEEP LAKE CAPITAL ACQUSTN CO | 0.0% | $11.0k | 275,000 | 0% | held | |
| 28 | WARBURG PINCUS CAPTAL CORP I | 0.0% | $10.0k | 164,076 | 0% | held | |
| 29 | HAMILTON LANE ALLIANCE HLDGS | 0.0% | $10.0k | 207,352 | 0% | held | |
| 30 | CONSTELLATION ACQUISITN CORP | 0.0% | $10.0k | 275,000 | 0% | held | |
| 31 | TWELVE SEAS INVESTMENT CO II | 0.0% | $10.0k | 202,582 | 0% | held | |
| 32 | ATLAS CREST INVESTMENT CORP | 0.0% | $9.0k | 215,000 | 0% | held | |
| 33 | NEW VISTA ACQUISITION CORP | 0.0% | $9.0k | 118,214 | 0% | held | |
| 34 | NORTHERN STAR INVSTMNT CORP | 0.0% | $9.0k | 300,000 | 0% | held | |
| 35 | CROWN PROPTECH ACQUISITIONS | 0.0% | $9.0k | 341,253 | 0% | held | |
| 36 | D AND Z MEDIA ACQUISITION CO | 0.0% | $8.0k | 279,121 | 0% | held | |
| 37 | AUTHENTIC EQUITY ACQUISTN CO | 0.0% | $8.0k | 200,000 | 0% | held | |
| 38 | CORAZON CAPITAL V838 MONOCER | 0.0% | $8.0k | 175,000 | 0% | held | |
| 39 | COVA ACQUISITION CORP | 0.0% | $7.0k | 226,403 | 0% | held | |
| 40 | KKR ACQUISITION HOLDING I CO | 0.0% | $7.0k | 60,568 | 0% | held | |
| 41 | ROCKET INTERNET GRWT OPRT CO | 0.0% | $6.0k | 100,000 | 0% | held | |
| 42 | JOFF FINTECH ACQUISITION COR | 0.0% | $6.0k | 150,000 | 0% | held | |
| 43 | FRONTIER ACQUISITION CORP | 0.0% | $4.0k | 36,986 | 0% | held | |
| 44 | L CATTERTON ASIA ACQUISITION | 0.0% | $4.0k | 109,064 | 0% | held | |
| 45 | LEVERE HOLDINGS CORP | 0.0% | $3.0k | 100,000 | 0% | held | |
| 46 | IRIS ACQUISITION CORP | 0.0% | $3.0k | 75,000 | 0% | held | |
| 47 | HIGHLAND TRANSCEND PARTNERS | 0.0% | $2.0k | 62,500 | 0% | held |
What did Kingstown Capital Management sell? Positions exited since the previous filing
| Stock | Prior weight | Prior value |
|---|---|---|
| CORAZON CAPITAL V838 MONOCER | 9.0% | $2.7m |
| BRIDGETOWN HOLDINGS LTD | 8.3% | $2.5m |
| CONSTELLATION ACQUISITN CORP | 8.2% | $2.5m |
| ARES ACQUISITION CORPORATION | 8.2% | $2.5m |
| HAMILTON LANE ALLIANCE HLDGS | 8.2% | $2.5m |
| FRONTIER ACQUISITION CORP | 8.2% | $2.5m |
| L CATTERTON ASIA ACQUISITION | 8.2% | $2.5m |
| KKR ACQUISITION HOLDING I CO | 8.2% | $2.4m |
| TRIBE CAPITAL GROWTH CORP I | 8.2% | $2.4m |
| ROCKET INTERNET GRWT OPRT CO | 8.2% | $2.4m |
| AUSTERLITZ ACQUISITION CORP | 8.2% | $2.4m |
| ATLAS CREST INVESTMENT CORP | 4.9% | $1.5m |
| ASTS AST SPACEMOBILE INC | 2.6% | $785.0k |
| RESERVOIR MEDIA INC | 0.6% | $166.0k |
| SILVER CREST ACQUISITION COR | 0.4% | $107.0k |
| ITHAX ACQUISITION CORP | 0.3% | $85.0k |
| ALPHA CAPITAL ACQUISITION CO | 0.1% | $43.0k |
| FORGE GLOBAL HOLDINGS INC | 0.0% | $11.0k |
| ISLEWORTH HEALTHCARE ACQU CO | 0.0% | $7.0k |
Sector mix
| Sector | Weight |
|---|---|
| Technology | 1.4% |
Sectors cover positions whose ticker resolved to a sector; the remainder is unclassified, not cash.
Filing history
| Quarter | Positions | Equity value |
|---|---|---|
| Q3 2022 | 47 | $30.4m |
| Q2 2022 | 63 | $60.4m |
| Q1 2022 | 68 | $65.9m |
| Q4 2021 | 70 | $79.5m |
| Q3 2021 | 79 | $100.0m |
| Q2 2021 | 101 | $167.4m |
| Q1 2021 | 99 | $290.8m |
| Q4 2020 | 33 | $184.4m |
| Q3 2020 | 15 | $162.4m |
| Q2 2020 | 14 | $212.4m |
| Q1 2020 | 21 | $650.9m |
| Q4 2019 | 13 | $344.3m |
| Q3 2019 | 15 | $402.1m |
| Q2 2019 | 15 | $549.2m |
| Q1 2019 | 15 | $487.3m |
| Q4 2018 | 15 | $460.6m |
Earliest filing: Q4 2010 · 48 quarters on file
How concentrated is Kingstown Capital Management's portfolio?
Across every quarter Kingstown Capital Management has filed, its median largest position is 13.5% of the book and its median top-ten weight is 79.9%, which WhaleCreep classifies as concentrated (the gate is a median largest position of 5%). Of 262 completed holding spells, the median lasted 2.0 quarters; 47 positions are still open and their final length is unknown.