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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
-8.03%
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
$1.16B
AUM Growth
-$351M
Cap. Flow
-$335M
Cap. Flow %
-28.92%
Top 10 Hldgs %
45.37%
Holding
494
New
126
Increased
47
Reduced
55
Closed
192

Top Buys

Rank Stock Value
1
PFSI icon
PennyMac Financial
PFSI
+$32M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$29.2M
3
NMRK icon
Newmark Group
NMRK
+$11.5M
4
COIN icon
Coinbase
COIN
+$9.28M
5
BMO icon
Bank of Montreal
BMO
+$8.82M

Top Sells

Rank Stock Value
1
SKIN icon
SkinHealth Systems
SKIN
+$24.3M
2
BG icon
Bunge Global
BG
+$15.9M
3
CIXX
CI Financial Corp.
CIXX
+$12.4M
4
TRIS
Tristar Acquisition I Corp.
TRIS
+$11.2M
5
SAGAU
Sagaliam Acquisition Corp. Units
SAGAU
+$9.93M

Sector Composition

Rank Sector Weight
1 Financials 16.69%
2 Real Estate 2.6%
3 Technology 2.09%
4 Communication Services 1.94%
5 Consumer Staples 1.7%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GCMGW
301
DELISTED
GCM Grosvenor Inc Warrant
GCMGW
– –
-860,548
Closed -$1.29M
GFL icon
302
CALL
GFL Environmental
GFL
$14.9B
– –
-147,000
Closed -$5.56M
B
303
PUT
Barrick Mining
B
$61.7B
– –
-95,000
Closed -$1.8M
GPN icon
304
CALL
Global Payments
GPN
$23.1B
– –
-20,400
Closed -$2.76M
GSHD icon
305
PUT
Goosehead Insurance
GSHD
$2.24B
– –
-13,000
Closed -$1.69M
HHH icon
306
CALL
Howard Hughes
HHH
$3.83B
– –
-21,190
Closed -$2.06M
HTZ icon
307
Hertz
HTZ
$499M
– –
-59,459
Closed -$1.49M
IAU icon
308
CALL
iShares Gold Trust
IAU
$62.8B
– –
-37,500
Closed -$1.3M
IGV icon
309
CALL
iShares Expanded Tech-Software Sector ETF
IGV
$12.6B
– –
-182,500
Closed -$14.5M
IJR icon
310
CALL
iShares Core S&P Small-Cap ETF
IJR
$110B
– –
-35,000
Closed -$4.01M
IJR icon
311
PUT
iShares Core S&P Small-Cap ETF
IJR
$110B
– –
-400,000
Closed -$45.8M
IRWD icon
312
CALL
Ironwood Pharmaceuticals
IRWD
$686M
– –
-25,000
Closed -$292K
IWM icon
313
PUT
iShares Russell 2000 ETF
IWM
$79.8B
– –
-88,000
Closed -$19.6M
KGC icon
314
CALL
Kinross Gold
KGC
$27.3B
– –
-200,000
Closed -$1.16M
KITTW icon
315
Nauticus Robotics Warrant
KITTW
$190K
– –
-210,550
Closed -$126K
LPX icon
316
CALL
Louisiana-Pacific
LPX
$5.08B
– –
-55,000
Closed -$4.31M
LSPD icon
317
Lightspeed Commerce
LSPD
$1.29B
– –
-10,000
Closed -$404K
LSPD icon
318
PUT
Lightspeed Commerce
LSPD
$1.29B
– –
-30,000
Closed -$1.21M
LUV icon
319
CALL
Southwest Airlines
LUV
$22.1B
– –
-75,000
Closed -$3.21M
LYV icon
320
CALL
Live Nation Entertainment
LYV
$40.7B
– –
-5,000
Closed -$598K
LYV icon
321
Live Nation Entertainment
LYV
$40.7B
– –
-4,100
Closed -$491K
MERC icon
322
Mercer International
MERC
$38.8M
– –
-94,462
Closed -$1.13M
OBIO icon
323
Orchestra BioMed
OBIO
$237M
– –
-425,541
Closed -$4.29M
PANW icon
324
CALL
Palo Alto Networks
PANW
$269B
– –
-30,000
Closed -$2.78M
PLAY icon
325
PUT
Dave & Buster's
PLAY
$375M
– –
-11,500
Closed -$442K
11 12
13
14 15

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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 2022 Portfolio in Review

As of Q1 2022, K2 Principal Fund held 494 positions worth $1.16B, down 23% from $1.51B the previous quarter. Its ten largest holdings account for 45% of the portfolio.

K2 Principal Fund withdrew a net $335M in Q1 2022, closing 192 positions and reducing 55 holdings. Its most notable exit was Bunge Global, an estimated $15.9M position sold in full.

By sector, the portfolio is most concentrated in Financials at 17% of assets, up from 16% a quarter earlier, followed by Real Estate and Technology.

Against the trend, K2 Principal Fund opened a new position in State Street SPDR S&P 500 ETF Trust worth $29.6M.

  • K2 Principal Fund's largest Q1 2022 buy was State Street SPDR S&P 500 ETF Trust: 65,553 shares worth $29.6M.
  • K2 Principal Fund added most to PennyMac Financial in Q1 2022, an estimated $32M increase.
  • K2 Principal Fund's biggest Q1 2022 reduction was SkinHealth Systems, cutting an estimated $24.3M.
  • K2 Principal Fund fully exited Bunge Global in Q1 2022, selling an estimated $15.9M.
  • K2 Principal Fund's ten largest holdings make up 45% of its $1.16B portfolio in Q1 2022.
  • K2 Principal Fund opened 126 new positions and closed 192 in Q1 2022.
  • K2 Principal Fund's portfolio value fell 23% quarter-over-quarter to $1.16B.

Based on K2 Principal Fund's 13F filing for Q1 2022, filed 16 May 2022.