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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
BNS icon
251
Scotiabank
BNS
$107B
– –
-397,554
Closed -$20.4M
BYND icon
252
CALL
Beyond Meat
BYND
$292M
– –
-25,400
Closed -$313K
BYND icon
253
Beyond Meat
BYND
$292M
– –
-11,964
Closed -$147K
CDIOW icon
254
Cardio Diagnostics Holdings Inc Warrant
CDIOW
$730K
– –
-92,500
Closed -$4.58K
CM icon
255
CALL
Canadian Imperial Bank of Commerce
CM
$108B
– –
-21,600
Closed -$1.18M
COIN icon
256
CALL
Coinbase
COIN
$38.5B
– –
-58,000
Closed -$2.05M
CVNA icon
257
CALL
Carvana
CVNA
$68.6B
– –
-75,000
Closed -$71.1K
CVNA icon
258
PUT
Carvana
CVNA
$68.6B
– –
-497,000
Closed -$471K
CWK icon
259
CALL
Cushman & Wakefield Ltd
CWK
$3.14B
– –
-58,000
Closed -$723K
DASH icon
260
PUT
DoorDash
DASH
$85.5B
– –
-75,400
Closed -$3.68M
DLR icon
261
PUT
Digital Realty Trust
DLR
$69.7B
– –
-2,200
Closed -$221K
DUOL icon
262
CALL
Duolingo
DUOL
$6.28B
– –
-5,000
Closed -$356K
FCX icon
263
CALL
Freeport-McMoran
FCX
$90B
– –
-190,000
Closed -$7.22M
IEI icon
264
PUT
iShares 3-7 Year Treasury Bond ETF
IEI
$18.1B
– –
-50,000
Closed -$5.74M
INSP icon
265
Inspire Medical Systems
INSP
$1.45B
– –
-14,956
Closed -$3.78M
JETS icon
266
US Global Jets ETF
JETS
$776M
– –
-90,000
Closed -$1.54M
KGC icon
267
CALL
Kinross Gold
KGC
$27.4B
– –
-350,000
Closed -$1.43M
KTTA icon
268
Pasithea Therapeutics
KTTA
$15.4M
– –
-14,122
Closed -$181K
MNST icon
269
Monster Beverage
MNST
$94.3B
– –
-216,654
Closed -$11M
MPC icon
270
CALL
Marathon Petroleum
MPC
$92.4B
– –
-22,500
Closed -$2.62M
MT icon
271
CALL
ArcelorMittal
MT
$52.9B
– –
-135,000
Closed -$3.54M
MX icon
272
CALL
Magnachip Semiconductor
MX
$119M
– –
-47,400
Closed -$445K
NBR icon
273
PUT
Nabors Industries
NBR
$1.27B
– –
-20,000
Closed -$3.1M
NNDM
274
Nano Dimension
NNDM
$316M
– –
-85,000
Closed -$196K
OFIX icon
275
Orthofix Medical
OFIX
$477M
– –
-31,780
Closed -$652K
9 10
11
12 13

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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.