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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
MT icon
101
PUT
ArcelorMittal
MT
$50.7B
$656K 0.1%
25,000
-390,000
-94% -$9.57M
OFIX icon
102
Orthofix Medical
OFIX
$496M
$652K 0.1%
+31,780
New +$561K
WEST icon
103
Westrock Coffee
WEST
$803M
$626K 0.1%
93,750
– –
ELIQ
104
DELISTED
Electriq Power Holdings, Inc.
ELIQ
$613K 0.09%
+60,223
New +$603K
RNG icon
105
CALL
RingCentral
RNG
$4.77B
$602K 0.09%
+17,000
New +$608K
SRG
106
CALL
Seritage Growth Properties
SRG
$129M
$592K 0.09%
50,000
-264,600
-84% -$2.93M
XPL icon
107
Solitario Resources
XPL
$67.9M
$577K 0.09%
930,000
– –
CWH icon
108
CALL
Camping World
CWH
$399M
$558K 0.08%
+25,000
New +$648K
ARES icon
109
CALL
Ares Management
ARES
$28.8B
$548K 0.08%
+8,000
New +$577K
HZON.WS
110
DELISTED
Horizon Acquisition Corporation II Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50
HZON.WS
$535K 0.08%
1,304,591
-683,695
-34% -$325K
SJT
111
PUT
San Juan Basin Royalty Trust
SJT
$117M
$521K 0.08%
45,600
– –
PSX icon
112
CALL
Phillips 66
PSX
$82.5B
$520K 0.08%
+5,000
New +$511K
ACB
113
Aurora Cannabis
ACB
$168M
$506K 0.08%
+55,000
New +$656K
CCL icon
114
CALL
Carnival Corporation Ltd
CCL
$38.7B
$484K 0.07%
+60,000
New +$517K
POSH
115
DELISTED
Poshmark, Inc. Class A Common Stock
POSH
$479K 0.07%
+26,793
New +$476K
CVNA icon
116
PUT
Carvana
CVNA
$47.3B
$471K 0.07%
497,000
-100,000
-17% -$211K
MX icon
117
CALL
Magnachip Semiconductor
MX
$118M
$445K 0.07%
47,400
-128,400
-73% -$1.24M
SIMO icon
118
Silicon Motion
SIMO
$7.51B
$430K 0.07%
6,614
-27,536
-81% -$1.69M
AJRD
119
DELISTED
Aerojet Rocketdyne Holdings
AJRD
$427K 0.06%
+7,639
New +$378K
PTON icon
120
PUT
Peloton Interactive
PTON
$2.84B
$407K 0.06%
51,200
-586,600
-92% -$5.63M
DUOL icon
121
CALL
Duolingo
DUOL
$6.56B
$356K 0.05%
+5,000
New +$390K
PLL
122
CALL
DELISTED
Piedmont Lithium
PLL
$321K 0.05%
+7,300
New +$405K
BLNG
123
DELISTED
Belong Acquisition Corp. Class A Common Stock
BLNG
$317K 0.05%
+32,062
New +$320K
BYND icon
124
CALL
Beyond Meat
BYND
$279M
$313K 0.05%
+25,400
New +$354K
CYCU
125
Cycurion Inc
CYCU
$3.43M
$287K 0.04%
+949
New +$287K
3 4
5
6 7

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WIM
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LCG
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CCM
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SMA
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SCA
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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.