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KPF

K2 Principal Fund Portfolio holdings

AUM $1.43B
1-Year Est. Return 29.56%
This Fund
S&P 500
This Quarter Est. Return
-0.54%
1 Year Est. Return
+29.56%
3 Year Est. Return
+71.66%
5 Year Est. Return
+57.43%
10 Year Est. Return
+278.66%
AUM
$727M
AUM Growth
+$68.5M
Cap. Flow
-$74.1M
Cap. Flow %
-10.2%
Top 10 Hldgs %
28.59%
Holding
373
New
123
Increased
37
Reduced
62
Closed
108

Top Buys

Rank Stock Value
1
PMT
PennyMac Mortgage Investment
PMT
+$11.3M
2
ACI icon
Albertsons Companies
ACI
+$5.8M
3
FHN icon
First Horizon
FHN
+$4.56M
4
ILLM
illumin Holdings Inc. Common Shares
ILLM
+$3.79M
5
NATI
National Instruments Corp
NATI
+$3.53M

Top Sells

Rank Stock Value
1
BNS icon
Scotiabank
BNS
+$20.4M
2
SJT
San Juan Basin Royalty Trust
SJT
+$12.9M
3
MNST icon
Monster Beverage
MNST
+$11M
4
COOP
Mr. Cooper
COOP
+$11M
5
UHAL.B icon
U-Haul Holding Co Series N
UHAL.B
+$10M

Sector Composition

Rank Sector Weight
1 Financials 5.98%
2 Real Estate 4.77%
3 Healthcare 4.13%
4 Technology 3.4%
5 Energy 2.08%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GLLIW
226
DELISTED
Globalink Investment Inc. Warrants
GLLIW
$4.16K ﹤0.01%
400,000
– –
BWAQW
227
DELISTED
Blue World Acquisition Corporation Warrant
BWAQW
$3.7K ﹤0.01%
178,087
-300,000
-63% -$16.7K
AOGOW
228
DELISTED
Arogo Capital Acquisition Corp. Warrant
AOGOW
$3K ﹤0.01%
+50,000
New +$2K
VGASW icon
229
Verde Clean Fuels Warrant
VGASW
$3K ﹤0.01%
+15,600
New +$2.81K
IMAQW
230
DELISTED
International Media Acquisition Corp. Warrants
IMAQW
$2.95K ﹤0.01%
98,456
-30,760
-24% -$1.22K
APLMW icon
231
Apollomics Inc Warrant
APLMW
$1.61M
$2.29K ﹤0.01%
+21,710
New +$2.45K
TRTL.WS
232
DELISTED
TortoiseEcofin Acquisition Corp. III Warrant, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 per share
TRTL.WS
$1.86K ﹤0.01%
18,631
+757
+4% +$137
PUCKW
233
DELISTED
Goal Acquisitions Corp. Warrant
PUCKW
$1.83K ﹤0.01%
60,855
-572,776
-90% -$28.5K
GRMLW
234
Greenland Mines Ltd Warrant
GRMLW
$1.77K ﹤0.01%
+35,335
New +$1.23K
ALTUW
235
DELISTED
Altitude Acquisition Corp Warrant
ALTUW
$1.75K ﹤0.01%
34,243
-56,925
-62% -$3.11K
VSACW
236
DELISTED
Vision Sensing Acquisition Corp. Warrants
VSACW
$1.69K ﹤0.01%
33,875
-40,000
-54% -$1.94K
AEAEW
237
DELISTED
AltEnergy Acquisition Corp Warrant
AEAEW
$1.32K ﹤0.01%
16,521
+3,997
+32% +$638
FLDDW
238
Fold Holdings Warrant
FLDDW
$1.22M
$1.15K ﹤0.01%
+10,886
New +$976
EUCRW
239
DELISTED
Eucrates Biomedical Acquisition Corp. Warrant
EUCRW
$1.14K ﹤0.01%
+34,509
New +$2.38K
PEGRW
240
DELISTED
Project Energy Reimagined Acquisition Corp. Warrant
PEGRW
$986 ﹤0.01%
+13,815
New +$1.12K
CSLMW
241
DELISTED
CSLM Acquisition Corp. Warrant
CSLMW
$852 ﹤0.01%
31,000
-14,750
-32% -$543
AA icon
242
CALL
Alcoa
AA
$11.9B
– –
-35,000
Closed -$1.59M
AA icon
243
Alcoa
AA
$11.9B
– –
-4,859
Closed -$234K
ACB
244
Aurora Cannabis
ACB
$172M
– –
-55,000
Closed -$506K
AG icon
245
CALL
First Majestic Silver
AG
$7.36B
– –
-255,000
Closed -$2.13M
AI icon
246
C3.ai
AI
$1.41B
– –
-78,000
Closed -$873K
ANNX icon
247
Annexon
ANNX
$834M
– –
-145,564
Closed -$753K
ARES icon
248
CALL
Ares Management
ARES
$28.4B
– –
-8,000
Closed -$548K
BGC icon
249
BGC Group
BGC
$5.54B
– –
-317,145
Closed -$1.2M
BKLN icon
250
PUT
Invesco Senior Loan ETF
BKLN
$6.97B
– –
-100,000
Closed -$2.05M
8 9
10
11 12

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K2 Principal Fund's Q1 2023 Portfolio in Review

As of Q1 2023, K2 Principal Fund held 373 positions worth $727M, up 10% from $658M the previous quarter. Its ten largest holdings account for 29% of the portfolio.

K2 Principal Fund withdrew a net $74.1M in Q1 2023, closing 108 positions and reducing 62 holdings. Its most notable exit was Scotiabank, an estimated $20.4M position sold in full.

By sector, the portfolio is most concentrated in Financials at 6% of assets, down from 10% a quarter earlier, followed by Real Estate and Healthcare.

Against the trend, K2 Principal Fund opened a new position in PennyMac Mortgage Investment worth $10.4M.

  • K2 Principal Fund's largest Q1 2023 buy was PennyMac Mortgage Investment: 839,533 shares worth $10.4M.
  • K2 Principal Fund added most to First Horizon in Q1 2023, an estimated $4.56M increase.
  • K2 Principal Fund's biggest Q1 2023 reduction was San Juan Basin Royalty Trust, cutting an estimated $12.9M.
  • K2 Principal Fund fully exited Scotiabank in Q1 2023, selling an estimated $20.4M.
  • K2 Principal Fund's ten largest holdings make up 29% of its $727M portfolio in Q1 2023.
  • K2 Principal Fund opened 123 new positions and closed 108 in Q1 2023.
  • K2 Principal Fund's portfolio value rose 10% quarter-over-quarter to $727M.

Based on K2 Principal Fund's 13F filing for Q1 2023, filed 11 May 2023.