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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
+9.18%
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
$579M
AUM Growth
-$206M
Cap. Flow
-$356M
Cap. Flow %
-61.45%
Top 10 Hldgs %
27.08%
Holding
345
New
120
Increased
30
Reduced
40
Closed
108

Top Buys

Rank Stock Value
1
IAU icon
iShares Gold Trust
IAU
+$8.11M
2
IBIT icon
iShares Bitcoin Trust
IBIT
+$6.24M
3
DJT icon
Trump Media & Technology Group
DJT
+$5.82M
4
INTC icon
Intel
INTC
+$3.56M
5
ZEO
Zeo Energy
ZEO
+$3.48M

Top Sells

Rank Stock Value
1
COOP
Mr. Cooper
COOP
+$13.2M
2
SPRY icon
ARS Pharmaceuticals
SPRY
+$6.23M
3
IVCB
Investcorp Europe Acquisition Corp I Class A Ordinary Shares
IVCB
+$3.62M
4
TLT icon
iShares 20+ Year Treasury Bond ETF
TLT
+$3.55M
5
TRP icon
TC Energy
TRP
+$3.13M

Sector Composition

Rank Sector Weight
1 Financials 7.82%
2 Healthcare 4.46%
3 Technology 4.07%
4 Energy 3.13%
5 Industrials 2.74%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TFPM icon
26
Triple Flag Precious Metals
TFPM
$5.93B
$3.56M 0.61%
181,737
+45,600
+33% +$589K
FCX icon
27
CALL
Freeport-McMoran
FCX
$87.4B
$3.53M 0.61%
75,000
-170,000
-69% -$6.86M
VST icon
28
CALL
Vistra
VST
$50.3B
$3.48M 0.6%
+50,000
New +$2.47M
BBU
29
DELISTED
Brookfield Business Partners
BBU
$3.45M 0.6%
156,353
+57,553
+58% +$1.23M
GRAB icon
30
Grab
GRAB
$13.7B
$3.15M 0.54%
1,004,373
-49,784
-5% -$160K
GLD icon
31
CALL
SPDR Gold Trust
GLD
$131B
$3.09M 0.53%
+15,000
New +$2.88M
HES
32
DELISTED
Hess
HES
$3.08M 0.53%
20,149
+2,000
+11% +$290K
ERF
33
DELISTED
Enerplus Corporation
ERF
$3.05M 0.53%
+155,105
New +$2.52M
XME icon
34
PUT
State Street SPDR S&P Metals & Mining ETF
XME
$3.9B
$3.01M 0.52%
+50,000
New +$2.86M
GDXJ icon
35
PUT
VanEck Junior Gold Miners ETF
GDXJ
$6.99B
$2.91M 0.5%
75,000
+25,000
+50% +$864K
SWN
36
DELISTED
Southwestern Energy Company
SWN
$2.87M 0.5%
+378,401
New +$2.57M
VST icon
37
Vistra
VST
$50.3B
$2.81M 0.49%
+40,355
New +$2M
MSOS icon
38
CALL
AdvisorShares Pure US Cannabis ETF
MSOS
$856M
$2.75M 0.48%
+275,000
New +$2.41M
MGRC icon
39
McGrath RentCorp
MGRC
$2.95B
$2.63M 0.45%
+21,311
New +$2.58M
NLOP
40
Net Lease Office Properties
NLOP
$172M
$2.6M 0.45%
+109,205
New +$2.57M
DELL icon
41
PUT
Dell
DELL
$250B
$2.57M 0.44%
+22,500
New +$2.1M
CVII
42
DELISTED
Churchill Capital Corp VII Class A Common Stock
CVII
$2.54M 0.44%
+236,940
New +$2.51M
TFII icon
43
TFI International
TFII
$12.6B
$2.5M 0.43%
+15,682
New +$2.24M
RGLD icon
44
CALL
Royal Gold
RGLD
$16.9B
$2.44M 0.42%
20,000
-10,000
-33% -$1.13M
DJT icon
45
PUT
Trump Media & Technology Group
DJT
$2.63B
$2.33M 0.4%
+37,600
New +$1.46M
STLD icon
46
Steel Dynamics
STLD
$36.9B
$2.31M 0.4%
+15,600
New +$1.96M
EGLE
47
DELISTED
Eagle Bulk Shipping Inc.
EGLE
$2.26M 0.39%
+36,206
New +$2.11M
ZEO
48
Zeo Energy
ZEO
$18.2M
$2.25M 0.39%
+395,293
New +$3.48M
FNVT
49
DELISTED
Finnovate Acquisition Corp. Class A Ordinary Shares
FNVT
$2.25M 0.39%
+200,000
New +$2.24M
INTC icon
50
CALL
Intel
INTC
$442B
$2.21M 0.38%
50,000
-210,000
-81% -$9.36M
1
2
3 4 5

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K2 Principal Fund's Q1 2024 Portfolio in Review

As of Q1 2024, K2 Principal Fund held 345 positions worth $579M, down 26% from $785M the previous quarter. Its ten largest holdings account for 27% of the portfolio.

K2 Principal Fund withdrew a net $356M in Q1 2024, closing 108 positions and reducing 40 holdings. Its most notable exit was Investcorp Europe Acquisition Corp I Class A Ordinary Shares, an estimated $3.62M position sold in full.

By sector, the portfolio is most concentrated in Financials at 7.8% of assets, down from 8.3% a quarter earlier, followed by Healthcare and Technology.

Against the trend, K2 Principal Fund opened a new position in iShares Bitcoin Trust worth $8.09M.

  • K2 Principal Fund's largest Q1 2024 buy was iShares Bitcoin Trust: 200,000 shares worth $8.09M.
  • K2 Principal Fund added most to iShares Gold Trust in Q1 2024, an estimated $8.11M increase.
  • K2 Principal Fund's biggest Q1 2024 reduction was Mr. Cooper, cutting an estimated $13.2M.
  • K2 Principal Fund fully exited Investcorp Europe Acquisition Corp I Class A Ordinary Shares in Q1 2024, selling an estimated $3.62M.
  • K2 Principal Fund's ten largest holdings make up 27% of its $579M portfolio in Q1 2024.
  • K2 Principal Fund opened 120 new positions and closed 108 in Q1 2024.
  • K2 Principal Fund's portfolio value fell 26% quarter-over-quarter to $579M.

Based on K2 Principal Fund's 13F filing for Q1 2024, filed 14 May 2024.