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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
COIN icon
51
CALL
Coinbase
COIN
$44.2B
$2.05M 0.31%
58,000
-119,000
-67% -$6.27M
SAVE
52
DELISTED
Spirit Airlines, Inc.
SAVE
$2.04M 0.31%
104,665
+14,763
+16% +$303K
INDT
53
DELISTED
INDUS Realty Trust, Inc. (MD) Common Stock
INDT
$1.97M 0.3%
+30,963
New +$1.76M
PFSI icon
54
PennyMac Financial
PFSI
$4.45B
$1.96M 0.3%
34,583
-132,062
-79% -$6.99M
RCL icon
55
CALL
Royal Caribbean
RCL
$86.5B
$1.85M 0.28%
37,500
-52,500
-58% -$2.75M
SLDB icon
56
Solid Biosciences
SLDB
$785M
$1.84M 0.28%
342,271
-28,478
-8% -$187K
NSTC
57
DELISTED
Northern Star Investment Corp. III
NSTC
$1.8M 0.27%
+179,257
New +$1.78M
CLF icon
58
PUT
Cleveland-Cliffs
CLF
$6.84B
$1.77M 0.27%
110,000
-734,500
-87% -$11.1M
AA icon
59
CALL
Alcoa
AA
$11.7B
$1.59M 0.24%
+35,000
New +$1.52M
JETS icon
60
US Global Jets ETF
JETS
$790M
$1.54M 0.23%
+90,000
New +$1.57M
HTZ icon
61
Hertz
HTZ
$556M
$1.53M 0.23%
+99,481
New +$1.68M
NVRO
62
CALL
DELISTED
NEVRO CORP.
NVRO
$1.5M 0.23%
38,000
+26,000
+217% +$1.08M
TOL icon
63
CALL
Toll Brothers
TOL
$14.5B
$1.5M 0.23%
+30,000
New +$1.38M
KGC icon
64
CALL
Kinross Gold
KGC
$28.1B
$1.43M 0.22%
+350,000
New +$1.38M
FRPT icon
65
PUT
Freshpet
FRPT
$3.01B
$1.42M 0.22%
27,000
-160,600
-86% -$9.56M
MLAI
66
DELISTED
McLaren Technology Acquisition Corp. Class A Common Stock
MLAI
$1.27M 0.19%
+123,998
New +$1.26M
ATMVU
67
DELISTED
AlphaVest Acquisition Corp Unit
ATMVU
$1.26M 0.19%
+125,000
New +$1.26M
FSM icon
68
CALL
Fortuna Silver Mines
FSM
$2.55B
$1.22M 0.18%
+324,300
New +$1.07M
BGC icon
69
BGC Group
BGC
$5.73B
$1.2M 0.18%
317,145
+240,014
+311% +$948K
CM icon
70
CALL
Canadian Imperial Bank of Commerce
CM
$109B
$1.18M 0.18%
+21,600
New +$953K
AFRM icon
71
CALL
Affirm
AFRM
$24.2B
$1.09M 0.17%
113,100
+53,200
+89% +$802K
NVRO
72
PUT
DELISTED
NEVRO CORP.
NVRO
$1.08M 0.16%
27,300
-36,000
-57% -$1.5M
MAXR
73
CALL
DELISTED
Maxar Technologies Inc. Common Stock
MAXR
$1.03M 0.16%
+20,000
New +$549K
DKNG icon
74
CALL
DraftKings
DKNG
$12.2B
$1.03M 0.16%
90,000
+14,000
+18% +$195K
RVLV icon
75
CALL
Revolve Group
RVLV
$1.92B
$1.02M 0.16%
46,000
+26,200
+132% +$629K
1 2
3
4 5

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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.