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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
KGC icon
101
PUT
Kinross Gold
KGC
$27.7B
$942K 0.13%
+200,000
New +$848K
LTH icon
102
CALL
Life Time Group Holdings
LTH
$10.2B
$937K 0.13%
+58,700
New +$1.01M
LXU icon
103
CALL
LSB Industries
LXU
$824M
$930K 0.13%
90,000
+20,000
+29% +$244K
PLL
104
CALL
DELISTED
Piedmont Lithium
PLL
$901K 0.12%
15,000
+7,700
+105% +$467K
FHN icon
105
PUT
First Horizon
FHN
$12.2B
$889K 0.12%
+50,000
New +$1.11M
LYFT icon
106
CALL
Lyft
LYFT
$5.86B
$853K 0.12%
+92,000
New +$1.11M
MOBV
107
DELISTED
Mobiv Acquisition Corp Class A Common Stock
MOBV
$842K 0.12%
+81,082
New +$837K
BRD
108
DELISTED
Beard Energy Transition Acquisition Corp.
BRD
$824K 0.11%
+79,484
New +$817K
FSM icon
109
CALL
Fortuna Silver Mines
FSM
$2.54B
$810K 0.11%
212,000
-112,300
-35% -$399K
WRAC
110
DELISTED
Williams Rowland Acquisition Corp.
WRAC
$780K 0.11%
+76,107
New +$778K
PNAC
111
DELISTED
Prime Number Acquisition I Corp. Class A Common Stock
PNAC
$778K 0.11%
+75,008
New +$772K
CGAU
112
Centerra Gold
CGAU
$3.38B
$745K 0.1%
+115,200
New +$719K
SPRY icon
113
PUT
ARS Pharmaceuticals
SPRY
$579M
$727K 0.1%
+111,600
New +$857K
ARIZ
114
DELISTED
Arisz Acquisition Corp. Common Stock
ARIZ
$723K 0.1%
+70,204
New +$717K
AG icon
115
PUT
First Majestic Silver
AG
$7.52B
$721K 0.1%
+100,000
New +$737K
IVCB
116
DELISTED
Investcorp Europe Acquisition Corp I Class A Ordinary Shares
IVCB
$669K 0.09%
+63,920
New +$664K
FTII
117
DELISTED
FutureTech II Acquisition Corp. Class A Common Stock
FTII
$627K 0.09%
+60,000
New +$622K
SJT
118
CALL
San Juan Basin Royalty Trust
SJT
$119M
$626K 0.09%
+59,500
New +$618K
TOL icon
119
PUT
Toll Brothers
TOL
$14B
$600K 0.08%
+10,000
New +$577K
XPL icon
120
Solitario Resources
XPL
$66.3M
$587K 0.08%
886,656
-43,344
-5% -$29.5K
WEST icon
121
Westrock Coffee
WEST
$798M
$574K 0.08%
93,750
– –
USCT
122
DELISTED
Roth CH Acquisition Co. Class A Ordinary Shares
USCT
$573K 0.08%
+55,068
New +$573K
SLV icon
123
PUT
iShares Silver Trust
SLV
$27.7B
$553K 0.08%
+25,000
New +$518K
JNJ icon
124
Johnson & Johnson
JNJ
$640B
$525K 0.07%
+3,389
New +$547K
CLDT
125
CALL
Chatham Lodging
CLDT
$632M
$525K 0.07%
+50,000
New +$612K
3 4
5
6 7

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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.