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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
+2.96%
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
$437M
AUM Growth
-$289M
Cap. Flow
-$451M
Cap. Flow %
-103.14%
Top 10 Hldgs %
29.71%
Holding
349
New
84
Increased
25
Reduced
62
Closed
127

Top Buys

Rank Stock Value
1
ATVI
Activision Blizzard
ATVI
+$5.46M
2
WRLD icon
World Acceptance Corp
WRLD
+$4.62M
3
PFSI icon
PennyMac Financial
PFSI
+$3.57M
4
NUVA
NuVasive, Inc.
NUVA
+$2.9M
5
UHAL icon
U-Haul Holding Co
UHAL
+$2.22M

Top Sells

Rank Stock Value
1
COOP
Mr. Cooper
COOP
+$10.5M
2
SPRY icon
ARS Pharmaceuticals
SPRY
+$9.44M
3
SJT
San Juan Basin Royalty Trust
SJT
+$8.96M
4
PMT
PennyMac Mortgage Investment
PMT
+$7.59M
5
AUY
Yamana Gold, Inc.
AUY
+$7.09M

Sector Composition

Rank Sector Weight
1 Financials 6.76%
2 Technology 5.6%
3 Healthcare 3.73%
4 Real Estate 3.63%
5 Industrials 3.5%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SJT
251
CALL
San Juan Basin Royalty Trust
SJT
$117M
– –
-59,500
Closed -$626K
SLV icon
252
PUT
iShares Silver Trust
SLV
$27.6B
– –
-25,000
Closed -$553K
SMXWW
253
SMX (Security Matters) Public Ltd Warrant
SMXWW
$769K
– –
-92,801
Closed -$4.64K
SPY icon
254
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$783B
– –
-50,000
Closed -$20.5M
STHO icon
255
Star Holdings Shares of Beneficial Interest
STHO
$114M
– –
-14,039
Closed -$244K
STLD icon
256
Steel Dynamics
STLD
$37.5B
– –
-3,000
Closed -$305K
TLT icon
257
CALL
iShares 20+ Year Treasury Bond ETF
TLT
$43.1B
– –
-140,000
Closed -$14.9M
TLT icon
258
PUT
iShares 20+ Year Treasury Bond ETF
TLT
$43.1B
– –
-100,000
Closed -$10.6M
TOL icon
259
CALL
Toll Brothers
TOL
$14.5B
– –
-156,600
Closed -$9.4M
TOL icon
260
PUT
Toll Brothers
TOL
$14.5B
– –
-10,000
Closed -$600K
USAS
261
Americas Gold and Silver
USAS
$1.31B
– –
-129,600
Closed -$156K
USO icon
262
CALL
United States Oil Fund
USO
$2B
– –
-100,000
Closed -$6.64M
VGASW icon
263
Verde Clean Fuels Warrant
VGASW
$507K
– –
-15,600
Closed -$3K
WING icon
264
PUT
Wingstop
WING
$3.67B
– –
-9,800
Closed -$1.8M
X
265
CALL
DELISTED
US Steel
X
– –
-50,000
Closed -$1.3M
LENZ
266
LENZ Therapeutics
LENZ
$184M
– –
-138,517
Closed -$2.38M
FLDDW
267
Fold Holdings Warrant
FLDDW
$1.06M
– –
-10,886
Closed -$1.15K
GRML
268
Greenland Mines Ltd
GRML
$29.9M
– –
-209,786
Closed -$2.17M
VEEA
269
Veea Inc
VEEA
$8.93M
– –
-24,474
Closed -$252K
YOTA
270
DELISTED
Yotta Acquisition Corporation Common Stock
YOTA
– –
-48,666
Closed -$501K
CLRC
271
DELISTED
ClimateRock Class A Ordinary Shares
CLRC
– –
-196,312
Closed -$2.04M
GDST
272
DELISTED
Goldenstone Acquisition Limited Common Stock
GDST
– –
-160,430
Closed -$1.66M
BNIXR
273
DELISTED
Bannix Acquisition Corp. Right
BNIXR
– –
-193,307
Closed -$26.9K
CSLMW
274
DELISTED
CSLM Acquisition Corp. Warrant
CSLMW
– –
-31,000
Closed -$852
IVCB
275
DELISTED
Investcorp Europe Acquisition Corp I Class A Ordinary Shares
IVCB
– –
-63,920
Closed -$669K
9 10
11
12 13

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SMA
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SCA
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K2 Principal Fund's Q2 2023 Portfolio in Review

As of Q2 2023, K2 Principal Fund held 349 positions worth $437M, down 40% from $727M the previous quarter. Its ten largest holdings account for 30% of the portfolio.

K2 Principal Fund withdrew a net $451M in Q2 2023, closing 127 positions and reducing 62 holdings. Its most notable exit was Mr. Cooper, an estimated $10.5M position sold in full.

By sector, the portfolio is most concentrated in Financials at 6.8% of assets, up from 6% a quarter earlier, followed by Technology and Healthcare.

Against the trend, K2 Principal Fund opened a new position in PennyMac Financial worth $3.96M.

  • K2 Principal Fund's largest Q2 2023 buy was PennyMac Financial: 56,373 shares worth $3.96M.
  • K2 Principal Fund added most to Activision Blizzard in Q2 2023, an estimated $5.46M increase.
  • K2 Principal Fund's biggest Q2 2023 reduction was ARS Pharmaceuticals, cutting an estimated $9.44M.
  • K2 Principal Fund fully exited Mr. Cooper in Q2 2023, selling an estimated $10.5M.
  • K2 Principal Fund's ten largest holdings make up 30% of its $437M portfolio in Q2 2023.
  • K2 Principal Fund opened 84 new positions and closed 127 in Q2 2023.
  • K2 Principal Fund's portfolio value fell 40% quarter-over-quarter to $437M.

Based on K2 Principal Fund's 13F filing for Q2 2023, filed 15 Aug 2023.