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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
+9.18%
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
$579M
AUM Growth
-$206M
Cap. Flow
-$356M
Cap. Flow %
-61.45%
Top 10 Hldgs %
27.08%
Holding
345
New
120
Increased
30
Reduced
40
Closed
108

Top Buys

Rank Stock Value
1
IAU icon
iShares Gold Trust
IAU
+$8.11M
2
IBIT icon
iShares Bitcoin Trust
IBIT
+$6.24M
3
DJT icon
Trump Media & Technology Group
DJT
+$5.82M
4
INTC icon
Intel
INTC
+$3.56M
5
ZEO
Zeo Energy
ZEO
+$3.48M

Top Sells

Rank Stock Value
1
COOP
Mr. Cooper
COOP
+$13.2M
2
SPRY icon
ARS Pharmaceuticals
SPRY
+$6.23M
3
IVCB
Investcorp Europe Acquisition Corp I Class A Ordinary Shares
IVCB
+$3.62M
4
TLT icon
iShares 20+ Year Treasury Bond ETF
TLT
+$3.55M
5
TRP icon
TC Energy
TRP
+$3.13M

Sector Composition

Rank Sector Weight
1 Financials 7.82%
2 Healthcare 4.46%
3 Technology 4.07%
4 Energy 3.13%
5 Industrials 2.74%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RCL icon
251
PUT
Royal Caribbean
RCL
$85.1B
– –
-11,000
Closed -$1.42M
RGLD icon
252
Royal Gold
RGLD
$16.8B
– –
-25,593
Closed -$2.89M
SLV icon
253
CALL
iShares Silver Trust
SLV
$27.8B
– –
-25,000
Closed -$545K
SLV icon
254
iShares Silver Trust
SLV
$27.8B
– –
-116,250
Closed -$2.53M
SLV icon
255
PUT
iShares Silver Trust
SLV
$27.8B
– –
-200,000
Closed -$4.36M
SPKL
256
Spark I Acquisition Corp
SPKL
$100M
– –
-117,860
Closed -$1.2M
SPY icon
257
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$784B
– –
-150,000
Closed -$71.3M
SPY icon
258
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$784B
– –
-200,000
Closed -$95.1M
STLD icon
259
CALL
Steel Dynamics
STLD
$36.3B
– –
-28,000
Closed -$3.31M
TLT icon
260
iShares 20+ Year Treasury Bond ETF
TLT
$42B
– –
-37,548
Closed -$3.55M
TOL icon
261
CALL
Toll Brothers
TOL
$13.8B
– –
-54,500
Closed -$5.6M
TOL icon
262
Toll Brothers
TOL
$13.8B
– –
-18,500
Closed -$1.9M
TRP icon
263
TC Energy
TRP
$70.8B
– –
-80,000
Closed -$3.13M
USO icon
264
CALL
United States Oil Fund
USO
$2.17B
– –
-100,000
Closed -$6.67M
VGAS icon
265
Verde Clean Fuels
VGAS
$22.5M
– –
-61,730
Closed -$146K
VLO icon
266
Valero Energy
VLO
$91.8B
– –
-3,200
Closed -$416K
VSTEW
267
DELISTED
Vast Renewables Limited Warrants
VSTEW
– –
-225,577
Closed -$22.6K
W icon
268
CALL
Wayfair
W
$11.4B
– –
-61,500
Closed -$3.79M
W icon
269
PUT
Wayfair
W
$11.4B
– –
-33,000
Closed -$2.04M
XLU icon
270
CALL
State Street Utilities Select Sector SPDR ETF
XLU
$22.9B
– –
-300,000
Closed -$9.5M
BRLSW icon
271
Borealis Foods Inc Warrant
BRLSW
$748K
– –
-47,682
Closed -$2.38K
AIRJW
272
AirJoule Technologies Warrant
AIRJW
$63.1M
– –
-46,473
Closed -$929
GCTS
273
GCT Semiconductor Holding
GCTS
$174M
– –
-118,294
Closed -$1.25M
CNH
274
CNH Industrial
CNH
$12.7B
– –
-114,141
Closed -$1.39M
EONR
275
EON Resources
EONR
$25.3M
– –
-16,687
Closed -$33.7K
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 Q1 2024 Portfolio in Review

As of Q1 2024, K2 Principal Fund held 345 positions worth $579M, down 26% from $785M the previous quarter. Its ten largest holdings account for 27% of the portfolio.

K2 Principal Fund withdrew a net $356M in Q1 2024, closing 108 positions and reducing 40 holdings. Its most notable exit was Investcorp Europe Acquisition Corp I Class A Ordinary Shares, an estimated $3.62M position sold in full.

By sector, the portfolio is most concentrated in Financials at 7.8% of assets, down from 8.3% a quarter earlier, followed by Healthcare and Technology.

Against the trend, K2 Principal Fund opened a new position in iShares Bitcoin Trust worth $8.09M.

  • K2 Principal Fund's largest Q1 2024 buy was iShares Bitcoin Trust: 200,000 shares worth $8.09M.
  • K2 Principal Fund added most to iShares Gold Trust in Q1 2024, an estimated $8.11M increase.
  • K2 Principal Fund's biggest Q1 2024 reduction was Mr. Cooper, cutting an estimated $13.2M.
  • K2 Principal Fund fully exited Investcorp Europe Acquisition Corp I Class A Ordinary Shares in Q1 2024, selling an estimated $3.62M.
  • K2 Principal Fund's ten largest holdings make up 27% of its $579M portfolio in Q1 2024.
  • K2 Principal Fund opened 120 new positions and closed 108 in Q1 2024.
  • K2 Principal Fund's portfolio value fell 26% quarter-over-quarter to $579M.

Based on K2 Principal Fund's 13F filing for Q1 2024, filed 14 May 2024.