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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
-0.54%
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
$727M
AUM Growth
+$68.5M
Cap. Flow
-$74.1M
Cap. Flow %
-10.2%
Top 10 Hldgs %
28.59%
Holding
373
New
123
Increased
37
Reduced
62
Closed
108

Top Buys

Rank Stock Value
1
PMT
PennyMac Mortgage Investment
PMT
+$11.3M
2
ACI icon
Albertsons Companies
ACI
+$5.8M
3
FHN icon
First Horizon
FHN
+$4.56M
4
ILLM
illumin Holdings Inc. Common Shares
ILLM
+$3.79M
5
NATI
National Instruments Corp
NATI
+$3.53M

Top Sells

Rank Stock Value
1
BNS icon
Scotiabank
BNS
+$20.4M
2
SJT
San Juan Basin Royalty Trust
SJT
+$12.9M
3
MNST icon
Monster Beverage
MNST
+$11M
4
COOP
Mr. Cooper
COOP
+$11M
5
UHAL.B icon
U-Haul Holding Co Series N
UHAL.B
+$10M

Sector Composition

Rank Sector Weight
1 Financials 5.98%
2 Real Estate 4.77%
3 Healthcare 4.13%
4 Technology 3.4%
5 Energy 2.08%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GMED icon
51
CALL
Globus Medical
GMED
$10.9B
$2.83M 0.39%
+50,000
New +$3.21M
HWH icon
52
HWH International
HWH
$11.1M
$2.71M 0.37%
+52,966
New +$2.7M
AA icon
53
PUT
Alcoa
AA
$11.2B
$2.68M 0.37%
63,000
+48,000
+320% +$2.31M
PSX icon
54
PUT
Phillips 66
PSX
$83.8B
$2.53M 0.35%
+25,000
New +$2.54M
SAVE
55
DELISTED
Spirit Airlines, Inc.
SAVE
$2.42M 0.33%
140,727
+36,062
+34% +$674K
LENZ
56
LENZ Therapeutics
LENZ
$178M
$2.38M 0.33%
138,517
+134,456
+3,311% +$2.17M
AOGO
57
DELISTED
Arogo Capital Acquisition Corp. Class A Common Stock
AOGO
$2.37M 0.33%
+227,423
New +$2.34M
BL icon
58
CALL
BlackLine
BL
$1.92B
$2.35M 0.32%
+35,000
New +$2.41M
DKNG icon
59
CALL
DraftKings
DKNG
$12.1B
$2.34M 0.32%
121,000
+31,000
+34% +$516K
AJRD
60
DELISTED
Aerojet Rocketdyne Holdings
AJRD
$2.24M 0.31%
39,939
+32,300
+423% +$1.81M
HZNP
61
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$2.22M 0.3%
+20,300
New +$2.24M
KRE icon
62
PUT
State Street SPDR S&P Regional Banking ETF
KRE
$4.54B
$2.19M 0.3%
+50,000
New +$2.84M
AVAC
63
DELISTED
Avalon Acquisition Inc. Class A Common Stock
AVAC
$2.19M 0.3%
+210,120
New +$2.18M
SGHL
64
DELISTED
Signal Hill Acquisition Corp. Class A Common Stock
SGHL
$2.18M 0.3%
+209,969
New +$2.16M
GRML
65
Greenland Mines Ltd
GRML
$27.9M
$2.17M 0.3%
+209,786
New +$2.15M
HUBC icon
66
Hub Cyber Security
HUBC
$6.21M
$2.16M 0.3%
+1
New +$2.6M
PMCB icon
67
PharmaCyte Biotech
PMCB
$6.33M
$2.06M 0.28%
723,271
-8,834
-1% -$26K
CLRC
68
DELISTED
ClimateRock Class A Ordinary Shares
CLRC
$2.04M 0.28%
+196,312
New +$2.02M
CCL icon
69
PUT
Carnival Corporation Ltd
CCL
$38B
$2.03M 0.28%
200,000
+165,000
+471% +$1.71M
CCV
70
DELISTED
Churchill Capital Corp V
CCV
$2.02M 0.28%
+200,000
New +$2.01M
TFPM icon
71
Triple Flag Precious Metals
TFPM
$5.8B
$2.01M 0.28%
+99,737
New +$1.36M
HTZ icon
72
Hertz
HTZ
$496M
$1.85M 0.25%
113,535
+14,054
+14% +$245K
CLF icon
73
PUT
Cleveland-Cliffs
CLF
$6.36B
$1.83M 0.25%
100,000
-10,000
-9% -$198K
WING icon
74
PUT
Wingstop
WING
$3.94B
$1.8M 0.25%
9,800
+4,800
+96% +$788K
ECDA
75
DELISTED
ECD Automotive Design
ECDA
$1.8M 0.25%
+875
New +$1.78M
1 2
3
4 5

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K2 Principal Fund's Q1 2023 Portfolio in Review

As of Q1 2023, K2 Principal Fund held 373 positions worth $727M, up 10% from $658M the previous quarter. Its ten largest holdings account for 29% of the portfolio.

K2 Principal Fund withdrew a net $74.1M in Q1 2023, closing 108 positions and reducing 62 holdings. Its most notable exit was Scotiabank, an estimated $20.4M position sold in full.

By sector, the portfolio is most concentrated in Financials at 6% of assets, down from 10% a quarter earlier, followed by Real Estate and Healthcare.

Against the trend, K2 Principal Fund opened a new position in PennyMac Mortgage Investment worth $10.4M.

  • K2 Principal Fund's largest Q1 2023 buy was PennyMac Mortgage Investment: 839,533 shares worth $10.4M.
  • K2 Principal Fund added most to First Horizon in Q1 2023, an estimated $4.56M increase.
  • K2 Principal Fund's biggest Q1 2023 reduction was San Juan Basin Royalty Trust, cutting an estimated $12.9M.
  • K2 Principal Fund fully exited Scotiabank in Q1 2023, selling an estimated $20.4M.
  • K2 Principal Fund's ten largest holdings make up 29% of its $727M portfolio in Q1 2023.
  • K2 Principal Fund opened 123 new positions and closed 108 in Q1 2023.
  • K2 Principal Fund's portfolio value rose 10% quarter-over-quarter to $727M.

Based on K2 Principal Fund's 13F filing for Q1 2023, filed 11 May 2023.