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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
PET
276
DELISTED
Wag!
PET
– –
-60,000
Closed -$92.4K
PFSI icon
277
PennyMac Financial
PFSI
$3.89B
– –
-34,583
Closed -$2.14M
PSX icon
278
CALL
Phillips 66
PSX
$84.2B
– –
-5,000
Closed -$520K
PTON icon
279
PUT
Peloton Interactive
PTON
$2.73B
– –
-51,200
Closed -$407K
RBA icon
280
CALL
RB Global
RBA
$20.3B
– –
-110,000
Closed -$6.36M
RCL icon
281
CALL
Royal Caribbean
RCL
$85.1B
– –
-37,500
Closed -$1.85M
RNG icon
282
CALL
RingCentral
RNG
$4.56B
– –
-17,000
Closed -$602K
RVLV icon
283
CALL
Revolve Group
RVLV
$1.81B
– –
-46,000
Closed -$1.02M
RVLV icon
284
Revolve Group
RVLV
$1.81B
– –
-199,990
Closed -$4.45M
SIMO icon
285
Silicon Motion
SIMO
$8.95B
– –
-6,614
Closed -$430K
SJT
286
PUT
San Juan Basin Royalty Trust
SJT
$118M
– –
-45,600
Closed -$521K
SLDB icon
287
Solid Biosciences
SLDB
$816M
– –
-342,271
Closed -$1.84M
SPCE icon
288
CALL
Virgin Galactic
SPCE
$319M
– –
-3,110
Closed -$216K
TGT icon
289
PUT
Target
TGT
$65.2B
– –
-31,000
Closed -$4.62M
UHAL icon
290
CALL
U-Haul Holding Co
UHAL
$13.7B
– –
-12,000
Closed -$722K
UHAL icon
291
U-Haul Holding Co
UHAL
$13.7B
– –
-13,000
Closed -$782K
UHAL.B icon
292
U-Haul Holding Co Series N
UHAL.B
$12.2B
– –
-176,882
Closed -$10M
VZLA
293
Vizsla Silver
VZLA
$1.11B
– –
-40,000
Closed -$45.6K
X
294
PUT
DELISTED
US Steel
X
– –
-35,000
Closed -$877K
CERO
295
DELISTED
CERo Therapeutics
CERO
– –
-6
Closed -$124K
TXNM
296
TXNM Energy Inc
TXNM
$6.4B
– –
-60,186
Closed -$2.94M
EONR
297
EON Resources
EONR
$25.5M
– –
-10,840
Closed -$111K
CYCU
298
Cycurion Inc
CYCU
$12.2M
– –
-949
Closed -$287K
OCEAW
299
DELISTED
Ocean Biomediacal, Inc. Warrants
OCEAW
– –
-105,024
Closed -$15.8K
NVRO
300
PUT
DELISTED
NEVRO CORP.
NVRO
– –
-27,300
Closed -$1.08M
10 11
12
13 14

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SCA
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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.