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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
TTD icon
301
Trade Desk
TTD
$8.59B
– –
-56,012
Closed -$3.35M
VXX icon
302
CALL
iPath Series B S&P 500 VIX Short-Term Futures ETN
VXX
$158M
– –
-6,250
Closed -$2.12M
VXX icon
303
iPath Series B S&P 500 VIX Short-Term Futures ETN
VXX
$158M
– –
-3,125
Closed -$1.06M
W icon
304
Wayfair
W
$11.9B
– –
-93,209
Closed -$3.25M
WING icon
305
CALL
Wingstop
WING
$3.66B
– –
-10,000
Closed -$1.25M
WRLD icon
306
World Acceptance Corp
WRLD
$840M
– –
-9,808
Closed -$950K
X
307
DELISTED
US Steel
X
– –
-55,000
Closed -$1.27M
CEROW
308
DELISTED
CERo Therapeutics Warrants
CEROW
– –
-75,000
Closed -$6K
DJT icon
309
PUT
Trump Media & Technology Group
DJT
$2.87B
– –
-188,600
Closed -$3.17M
TECX
310
Tectonic Therapeutic
TECX
$538M
– –
-228,201
Closed -$1.76M
ALSAW
311
DELISTED
Alpha Star Acquisition Corp Warrants
ALSAW
– –
-95,965
Closed -$4K
CLOER
312
DELISTED
Clover Leaf Capital Corp. Rights
CLOER
– –
-1,721,812
Closed -$80K
AVHIW
313
DELISTED
Achari Ventures Holdings Corp I Warrant
AVHIW
– –
-500,000
Closed -$25K
ASCAW
314
DELISTED
A SPAC I Acquisition Corp. Warrant
ASCAW
– –
-156,216
Closed -$6K
MBTCR
315
DELISTED
Nocturne Acquisition Corporation Right
MBTCR
– –
-949,931
Closed -$42K
HCMAW
316
DELISTED
HCM Acquisition Corp Warrant
HCMAW
– –
-364,998
Closed -$26K
PRPC.WS
317
DELISTED
CC Neuberger Principal Holdings III Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50
PRPC.WS
– –
-551,323
Closed -$99K
WWE
318
CALL
DELISTED
World Wrestling Entertainment
WWE
– –
-4,100
Closed -$288K
BSAQ.WS
319
DELISTED
Black Spade Acquisition Co Redeemable warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50
BSAQ.WS
– –
-388,920
Closed -$45K
TCRR
320
DELISTED
TCR2 Therapeutics Inc. Common Stock
TCRR
– –
-1,899,824
Closed -$3.42M
GRCYW
321
DELISTED
Greencity Acquisition Corporation Warrants
GRCYW
– –
-123,945
Closed -$2K
BRIVW
322
DELISTED
B. Riley Principal 250 Merger Corp. Warrant
BRIVW
– –
-245,465
Closed -$27K
ATCO
323
CALL
DELISTED
Atlas Corp.
ATCO
– –
-50,000
Closed -$695K
ATCO
324
DELISTED
Atlas Corp.
ATCO
– –
-29,600
Closed -$411K
ONEM
325
CALL
DELISTED
1Life Healthcare
ONEM
– –
-25,000
Closed -$429K
11 12
13
14 15

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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.