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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
-0.79%
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
$871M
AUM Growth
-$35.6M
Cap. Flow
-$72.1M
Cap. Flow %
-8.28%
Top 10 Hldgs %
31.88%
Holding
420
New
69
Increased
48
Reduced
66
Closed
133

Top Buys

Rank Stock Value
1
COOP
Mr. Cooper
COOP
+$24.3M
2
PMT
PennyMac Mortgage Investment
PMT
+$19.5M
3
SJT
San Juan Basin Royalty Trust
SJT
+$8.97M
4
SPRY icon
ARS Pharmaceuticals
SPRY
+$8.41M
5
TWO
Two Harbors Investment
TWO
+$6.57M

Top Sells

Rank Stock Value
1
TSLA icon
Tesla
TSLA
+$52M
2
COIN icon
Coinbase
COIN
+$16M
3
SIVB
SVB Financial Group
SIVB
+$15.9M
4
CIXX
CI Financial Corp.
CIXX
+$11.9M
5
GME icon
GameStop
GME
+$11.8M

Sector Composition

Rank Sector Weight
1 Financials 7.96%
2 Real Estate 4.84%
3 Healthcare 4.77%
4 Consumer Discretionary 4.27%
5 Energy 2.48%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IAU icon
26
CALL
iShares Gold Trust
IAU
$63.5B
$7.88M 0.91%
250,000
+125,000
+100% +$4.1M
SJR
27
DELISTED
Shaw Communications Inc.
SJR
$7.37M 0.85%
303,200
+66,800
+28% +$1.77M
FCX icon
28
CALL
Freeport-McMoran
FCX
$90.4B
$7.35M 0.84%
269,000
+139,000
+107% +$4.07M
AFRM icon
29
PUT
Affirm
AFRM
$24.6B
$7.18M 0.82%
+382,600
New +$10M
PFSI icon
30
PennyMac Financial
PFSI
$4.44B
$7.15M 0.82%
166,645
-141,836
-46% -$7.41M
EWC icon
31
PUT
iShares MSCI Canada ETF
EWC
$6.14B
$6.15M 0.71%
+200,000
New +$6.8M
CVNA icon
32
CALL
Carvana
CVNA
$45.6B
$5.63M 0.65%
1,387,500
+992,500
+251% +$6.47M
DASH icon
33
DoorDash
DASH
$79.1B
$5.62M 0.65%
113,698
-37,060
-25% -$2.48M
SRG
34
Seritage Growth Properties
SRG
$135M
$5.59M 0.64%
620,000
+200,063
+48% +$2.29M
HYG icon
35
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
$5.35M 0.61%
75,000
-175,000
-70% -$13.2M
ILLM
36
DELISTED
illumin Holdings Inc. Common Shares
ILLM
$4.93M 0.57%
2,869,407
+250,791
+10% +$586K
CF icon
37
CALL
CF Industries
CF
$18.5B
$4.81M 0.55%
+50,000
New +$4.88M
TWO
38
Two Harbors Investment
TWO
$1.27B
$4.5M 0.52%
+338,602
New +$6.57M
MPC icon
39
CALL
Marathon Petroleum
MPC
$90.9B
$4.47M 0.51%
+45,000
New +$4.21M
AA icon
40
PUT
Alcoa
AA
$11.7B
$4.46M 0.51%
+132,500
New +$6.19M
PTON icon
41
PUT
Peloton Interactive
PTON
$2.7B
$4.42M 0.51%
637,800
+212,500
+50% +$2.16M
NXTC icon
42
NextCure
NXTC
$19.2M
$4.19M 0.48%
131,776
+66,082
+101% +$3.37M
IIPR icon
43
PUT
Innovative Industrial Properties
IIPR
$1.8B
$4.15M 0.48%
+46,900
New +$4.55M
SWCH
44
DELISTED
Switch, Inc. Class A Common Stock
SWCH
$4.14M 0.47%
122,753
+14,800
+14% +$501K
W icon
45
CALL
Wayfair
W
$12B
$4.13M 0.47%
127,000
-111,800
-47% -$5.91M
IYR icon
46
PUT
iShares US Real Estate ETF
IYR
$4.75B
$4.07M 0.47%
+50,000
New +$4.73M
MNST icon
47
Monster Beverage
MNST
$92.7B
$3.94M 0.45%
90,512
+67,102
+287% +$3.09M
WING icon
48
PUT
Wingstop
WING
$3.73B
$3.76M 0.43%
+30,000
New +$3.59M
DASH icon
49
PUT
DoorDash
DASH
$79.1B
$3.73M 0.43%
75,400
+19,800
+36% +$1.32M
KOD icon
50
Kodiak Sciences
KOD
$2.63B
$3.62M 0.42%
+468,275
New +$4.55M
1
2
3 4 5

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K2 Principal Fund's Q3 2022 Portfolio in Review

As of Q3 2022, K2 Principal Fund held 420 positions worth $871M, down 3.9% from $907M the previous quarter. Its ten largest holdings account for 32% of the portfolio.

K2 Principal Fund withdrew a net $72.1M in Q3 2022, closing 133 positions and reducing 66 holdings. Its most notable exit was Tesla, an estimated $52M position sold in full.

By sector, the portfolio is most concentrated in Financials at 8% of assets, down from 13% a quarter earlier, followed by Real Estate and Healthcare.

Against the trend, K2 Principal Fund opened a new position in Mr. Cooper worth $23.3M.

  • K2 Principal Fund's largest Q3 2022 buy was Mr. Cooper: 574,409 shares worth $23.3M.
  • K2 Principal Fund added most to San Juan Basin Royalty Trust in Q3 2022, an estimated $8.97M increase.
  • K2 Principal Fund's biggest Q3 2022 reduction was Coinbase, cutting an estimated $16M.
  • K2 Principal Fund fully exited Tesla in Q3 2022, selling an estimated $52M.
  • K2 Principal Fund's ten largest holdings make up 32% of its $871M portfolio in Q3 2022.
  • K2 Principal Fund opened 69 new positions and closed 133 in Q3 2022.
  • K2 Principal Fund's portfolio value fell 3.9% quarter-over-quarter to $871M.

Based on K2 Principal Fund's 13F filing for Q3 2022, filed 14 Nov 2022.