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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
CGC
76
PUT
Canopy Growth
CGC
$376M
$1.75M 0.24%
+100,000
New +$2.37M
LGVC
77
DELISTED
LAMF Global Ventures Corp. I Class A Ordinary Shares
LGVC
$1.73M 0.24%
+166,027
New +$1.72M
LIBY
78
DELISTED
Liberty Resources Acquisition Corp. Class A Common Stock
LIBY
$1.7M 0.23%
+162,339
New +$1.69M
GMED icon
79
Globus Medical
GMED
$11.1B
$1.68M 0.23%
+29,647
New +$1.9M
GDST
80
DELISTED
Goldenstone Acquisition Limited Common Stock
GDST
$1.66M 0.23%
+160,430
New +$1.65M
HWKZ
81
DELISTED
Hawks Acquisition Corp
HWKZ
$1.64M 0.23%
+161,161
New +$1.63M
COCH icon
82
Envoy Medical
COCH
$49.5M
$1.6M 0.22%
+158,930
New +$1.59M
ATVI
83
CALL
DELISTED
Activision Blizzard
ATVI
$1.56M 0.21%
+18,200
New +$1.41M
CNH
84
CALL
CNH Industrial
CNH
$13.3B
$1.53M 0.21%
+100,000
New +$1.62M
NUVA
85
DELISTED
NuVasive, Inc.
NUVA
$1.48M 0.2%
+35,770
New +$1.53M
APGB
86
DELISTED
Apollo Strategic Growth Capital II
APGB
$1.47M 0.2%
+143,027
New +$1.45M
INSP icon
87
CALL
Inspire Medical Systems
INSP
$1.47B
$1.4M 0.19%
+6,000
New +$1.52M
HUBCZ icon
88
Hub Cyber Security Warrant
HUBCZ
$118K
$1.4M 0.19%
+2,154,013
New +$1.23M
ITAQ
89
DELISTED
Industrial Tech Acquisitions II, Inc. Class A Common Stock
ITAQ
$1.38M 0.19%
+132,737
New +$1.37M
X
90
CALL
DELISTED
US Steel
X
$1.3M 0.18%
50,000
-110,000
-69% -$3.06M
MAXR
91
DELISTED
Maxar Technologies Inc. Common Stock
MAXR
$1.29M 0.18%
25,274
+9,700
+62% +$497K
AMCI
92
AMC Robotics
AMCI
$97.8M
$1.28M 0.18%
+124,265
New +$1.27M
ISRL
93
DELISTED
Israel Acquisitions Corp
ISRL
$1.28M 0.18%
+124,798
New +$1.27M
AIV
94
Aimco
AIV
$377M
$1.25M 0.17%
+163,192
New +$1.22M
RIVN icon
95
CALL
Rivian
RIVN
$23.6B
$1.21M 0.17%
78,000
-54,000
-41% -$912K
W icon
96
CALL
Wayfair
W
$11.8B
$1.2M 0.17%
35,000
-84,000
-71% -$3.72M
COOP
97
CALL
DELISTED
Mr. Cooper
COOP
$1.19M 0.16%
+29,000
New +$1.27M
ABEV icon
98
Ambev
ABEV
$47.9B
$1.14M 0.16%
402,639
-535,197
-57% -$1.4M
WRLD icon
99
World Acceptance Corp
WRLD
$861M
$1.1M 0.15%
+13,233
New +$1.15M
CREC
100
DELISTED
Crescera Capital Acquisition Corp Class A Ordinary Shares
CREC
$1.05M 0.14%
+100,000
New +$1.04M
2 3
4
5 6

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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.