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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
+11.09%
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
$658M
AUM Growth
-$213M
Cap. Flow
-$356M
Cap. Flow %
-54.08%
Top 10 Hldgs %
41.88%
Holding
370
New
83
Increased
31
Reduced
76
Closed
126

Top Buys

Rank Stock Value
1
BNS icon
Scotiabank
BNS
+$19.6M
2
UHAL.B icon
U-Haul Holding Co Series N
UHAL.B
+$10.2M
3
SJT
San Juan Basin Royalty Trust
SJT
+$6.12M
4
MNST icon
Monster Beverage
MNST
+$6.11M
5
STOR
STORE Capital Corporation
STOR
+$5.01M

Top Sells

Rank Stock Value
1
CIXX
CI Financial Corp.
CIXX
+$27.9M
2
RIVN icon
Rivian
RIVN
+$17.5M
3
PMT
PennyMac Mortgage Investment
PMT
+$15.7M
4
HTZWW
Hertz Global Holdings Warrants
HTZWW
+$13.2M
5
NMRK icon
Newmark Group
NMRK
+$13.1M

Sector Composition

Rank Sector Weight
1 Financials 10.45%
2 Healthcare 5.32%
3 Energy 4.61%
4 Real Estate 4.08%
5 Industrials 2.3%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DUOL icon
251
Duolingo
DUOL
$6.53B
– –
-33,626
Closed -$2.63M
EQNR icon
252
CALL
Equinor
EQNR
$97.3B
– –
-50,000
Closed -$1.66M
EWC icon
253
PUT
iShares MSCI Canada ETF
EWC
$6.12B
– –
-200,000
Closed -$6.15M
FL
254
DELISTED
Foot Locker
FL
– –
-8,000
Closed -$249K
FRPT icon
255
CALL
Freshpet
FRPT
$3.04B
– –
-36,300
Closed -$1.82M
GLD icon
256
PUT
SPDR Gold Trust
GLD
$131B
– –
-20,000
Closed -$3.09M
LKFT
257
Lakefront Biotherapeutics American Depositary Shares
LKFT
$1.82B
– –
-5,500
Closed -$235K
GME icon
258
CALL
GameStop
GME
$9.8B
– –
-15,000
Closed -$377K
GME icon
259
GameStop
GME
$9.8B
– –
-11,875
Closed -$298K
HHH icon
260
CALL
Howard Hughes
HHH
$3.94B
– –
-4,196
Closed -$222K
HTZWW
261
Hertz Global Holdings Warrants
HTZWW
$68M
– –
-1,488,111
Closed -$13.2M
HYG icon
262
CALL
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
– –
-50,000
Closed -$3.57M
HZO icon
263
CALL
MarineMax
HZO
$748M
– –
-10,000
Closed -$298K
IIPR icon
264
PUT
Innovative Industrial Properties
IIPR
$1.77B
– –
-46,900
Closed -$4.15M
INSP icon
265
CALL
Inspire Medical Systems
INSP
$1.47B
– –
-9,000
Closed -$1.6M
INSP icon
266
PUT
Inspire Medical Systems
INSP
$1.47B
– –
-18,400
Closed -$3.26M
IRBT
267
DELISTED
iRobot
IRBT
– –
-53,800
Closed -$3.03M
IRON icon
268
Disc Medicine
IRON
$2.81B
– –
-6,437
Closed -$317K
IWM icon
269
iShares Russell 2000 ETF
IWM
$79.1B
– –
-9,022
Closed -$1.49M
IWM icon
270
PUT
iShares Russell 2000 ETF
IWM
$79.1B
– –
-65,200
Closed -$10.8M
IYR icon
271
PUT
iShares US Real Estate ETF
IYR
$4.75B
– –
-50,000
Closed -$4.07M
KOD icon
272
Kodiak Sciences
KOD
$2.5B
– –
-468,275
Closed -$3.62M
LCID icon
273
Lucid Motors
LCID
$3.11B
– –
-3,729
Closed -$521K
LEN icon
274
PUT
Lennar Class A
LEN
$20.4B
– –
-15,598
Closed -$1.13M
LQD icon
275
PUT
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.3B
– –
-250,000
Closed -$25.6M
9 10
11
12 13

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WIM
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LCG
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CCM
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SMA
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SCA
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K2 Principal Fund's Q4 2022 Portfolio in Review

As of Q4 2022, K2 Principal Fund held 370 positions worth $658M, down 24% from $871M the previous quarter. Its ten largest holdings account for 42% of the portfolio.

K2 Principal Fund withdrew a net $356M in Q4 2022, closing 126 positions and reducing 76 holdings. Its most notable exit was Rivian, an estimated $17.5M position sold in full.

By sector, the portfolio is most concentrated in Financials at 10% of assets, up from 8% a quarter earlier, followed by Healthcare and Energy.

Against the trend, K2 Principal Fund opened a new position in Scotiabank worth $19.5M.

  • K2 Principal Fund's largest Q4 2022 buy was Scotiabank: 397,554 shares worth $19.5M.
  • K2 Principal Fund added most to San Juan Basin Royalty Trust in Q4 2022, an estimated $6.12M increase.
  • K2 Principal Fund's biggest Q4 2022 reduction was CI Financial Corp., cutting an estimated $27.9M.
  • K2 Principal Fund fully exited Rivian in Q4 2022, selling an estimated $17.5M.
  • K2 Principal Fund's ten largest holdings make up 42% of its $658M portfolio in Q4 2022.
  • K2 Principal Fund opened 83 new positions and closed 126 in Q4 2022.
  • K2 Principal Fund's portfolio value fell 24% quarter-over-quarter to $658M.

Based on K2 Principal Fund's 13F filing for Q4 2022, filed 10 Feb 2023.