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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
CAR icon
26
CALL
Avis
CAR
$5.78B
$7.9M 0.68%
+30,000
New +$6.03M
CLF icon
27
CALL
Cleveland-Cliffs
CLF
$6.99B
$7.57M 0.65%
+235,000
New +$5.36M
FCX icon
28
CALL
Freeport-McMoran
FCX
$90.2B
$7.34M 0.63%
147,500
+142,500
+2,850% +$6.31M
TWLO icon
29
CALL
Twilio
TWLO
$29.5B
$7.33M 0.63%
44,500
+27,000
+154% +$4.92M
GLD icon
30
PUT
SPDR Gold Trust
GLD
$132B
$7.23M 0.62%
40,000
-115,000
-74% -$20.2M
RCL icon
31
CALL
Royal Caribbean
RCL
$81.8B
$6.91M 0.6%
82,500
+52,500
+175% +$4.13M
PTON icon
32
CALL
Peloton Interactive
PTON
$2.71B
$6.74M 0.58%
255,000
+151,300
+146% +$4.34M
X
33
CALL
DELISTED
US Steel
X
$6.42M 0.55%
170,000
+157,500
+1,260% +$4.26M
WY icon
34
PUT
Weyerhaeuser
WY
$17.2B
$6.38M 0.55%
+168,200
New +$6.67M
NTR icon
35
PUT
Nutrien
NTR
$32.4B
$6.24M 0.54%
+60,000
New +$4.97M
FAZE
36
DELISTED
FaZe Holdings Inc. Common Stock
FAZE
$6.11M 0.53%
616,316
+395,707
+179% +$3.93M
QCOM icon
37
CALL
Qualcomm
QCOM
$179B
$6.11M 0.53%
+40,000
New +$6.71M
PTON icon
38
PUT
Peloton Interactive
PTON
$2.71B
$6.11M 0.53%
231,200
-509,500
-69% -$14.6M
EJFA
39
DELISTED
EJF Acquisition Corp. Class A Ordinary Share
EJFA
$5.62M 0.49%
+568,607
New +$5.63M
SJR
40
DELISTED
Shaw Communications Inc.
SJR
$5.58M 0.48%
179,700
+98,400
+121% +$2.95M
MX icon
41
Magnachip Semiconductor
MX
$126M
$5.51M 0.48%
326,110
+86,110
+36% +$1.55M
TLT icon
42
PUT
iShares 20+ Year Treasury Bond ETF
TLT
$42.8B
$5.28M 0.46%
40,000
-66,000
-62% -$9.1M
RBAC
43
DELISTED
RedBall Acquisition Corp.
RBAC
$5.21M 0.45%
524,834
-85,146
-14% -$844K
WFG icon
44
West Fraser Timber
WFG
$5.18B
$5.09M 0.44%
61,700
-73,805
-54% -$6.93M
STLD icon
45
CALL
Steel Dynamics
STLD
$36.1B
$5.01M 0.43%
+60,000
New +$4.05M
MSTR icon
46
PUT
Strategy Inc
MSTR
$36B
$4.86M 0.42%
+100,000
New +$4.33M
CCL icon
47
CALL
Carnival Corporation Ltd
CCL
$37.1B
$4.45M 0.38%
220,000
+147,500
+203% +$2.98M
CDR
48
CALL
DELISTED
Cedar Realty Trust, Inc
CDR
$4.41M 0.38%
+159,700
New +$4.01M
ILLM
49
DELISTED
illumin Holdings Inc. Common Shares
ILLM
$4.33M 0.37%
+1,374,473
New +$3.95M
DOCU
50
CALL
DocuSign
DOCU
$10.1B
$4.29M 0.37%
+40,000
New +$4.59M
1
2
3 4 5

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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.