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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
MBUU icon
276
PUT
Malibu Boats
MBUU
$550M
– –
-75,100
Closed -$3.6M
MX icon
277
Magnachip Semiconductor
MX
$116M
– –
-266,148
Closed -$2.57M
NMRK icon
278
Newmark Group
NMRK
$2.68B
– –
-1,630,260
Closed -$13.1M
NXTC icon
279
NextCure
NXTC
$20.5M
– –
-131,776
Closed -$4.19M
OPEN icon
280
PUT
Opendoor
OPEN
$3.69B
– –
-103,333
Closed -$311K
PD icon
281
CALL
PagerDuty
PD
$800M
– –
-15,000
Closed -$346K
PMT
282
PennyMac Mortgage Investment
PMT
$812M
– –
-1,335,843
Closed -$15.7M
PSIL icon
283
AdvisorShares Psychedelics ETF
PSIL
$49.4M
– –
-1,331
Closed -$38K
RCL icon
284
PUT
Royal Caribbean
RCL
$86.1B
– –
-30,000
Closed -$1.14M
RENT
285
CALL
Rent the Runway
RENT
$119M
– –
-750
Closed -$33K
RIVN icon
286
Rivian
RIVN
$24.4B
– –
-595,293
Closed -$17.5M
RNG icon
287
RingCentral
RNG
$4.48B
– –
-18,500
Closed -$662K
RRC icon
288
CALL
Range Resources
RRC
$9.24B
– –
-10,000
Closed -$253K
SHO icon
289
Sunstone Hotel Investors
SHO
$2.18B
– –
-10,000
Closed -$94K
SLV icon
290
CALL
iShares Silver Trust
SLV
$28.6B
– –
-125,000
Closed -$2.19M
SMH icon
291
PUT
VanEck Semiconductor ETF
SMH
$65B
– –
-95,000
Closed -$8.79M
SOFI icon
292
SoFi Technologies
SOFI
$21.1B
– –
-15,000
Closed -$73K
SONO icon
293
Sonos
SONO
$1.72B
– –
-10,000
Closed -$139K
SPCE icon
294
Virgin Galactic
SPCE
$329M
– –
-1,997
Closed -$186K
SPY icon
295
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$784B
– –
-150,000
Closed -$53.6M
SPY icon
296
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$784B
– –
-110,000
Closed -$39.3M
STLD icon
297
CALL
Steel Dynamics
STLD
$36.2B
– –
-10,000
Closed -$709K
SU icon
298
Suncor Energy
SU
$78.8B
– –
-66,211
Closed -$1.86M
TLT icon
299
PUT
iShares 20+ Year Treasury Bond ETF
TLT
$42.4B
– –
-150,000
Closed -$15.4M
TSEM icon
300
Tower Semiconductor
TSEM
$23.9B
– –
-29,682
Closed -$1.3M
10 11
12
13 14

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WIM
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LCG
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CCM
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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.