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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
-0.62%
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
$477M
AUM Growth
+$40.2M
Cap. Flow
-$122M
Cap. Flow %
-25.62%
Top 10 Hldgs %
32.85%
Holding
320
New
93
Increased
27
Reduced
48
Closed
94

Top Buys

Rank Stock Value
1
SPRY icon
ARS Pharmaceuticals
SPRY
+$8.4M
2
COOP
Mr. Cooper
COOP
+$7.77M
3
GMED icon
Globus Medical
GMED
+$3.92M
4
CVE icon
Cenovus Energy
CVE
+$3.82M
5
TSEM icon
Tower Semiconductor
TSEM
+$3.17M

Top Sells

Rank Stock Value
1
WRLD icon
World Acceptance Corp
WRLD
+$7.53M
2
NUVA
NuVasive, Inc.
NUVA
+$4.42M
3
AJRD
Aerojet Rocketdyne Holdings
AJRD
+$3.33M
4
LSI
Life Storage, Inc.
LSI
+$3.09M
5
ILLM
illumin Holdings Inc. Common Shares
ILLM
+$2.86M

Sector Composition

Rank Sector Weight
1 Technology 6.54%
2 Healthcare 4.19%
3 Financials 3.85%
4 Energy 2.45%
5 Real Estate 1.9%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FRPT icon
101
CALL
Freshpet
FRPT
$3.01B
$264K 0.06%
4,000
-4,000
-50% -$287K
GFR icon
102
Greenfire Resources
GFR
$771M
$226K 0.05%
+45,666
New +$303K
WW
103
DELISTED
WW International
WW
$221K 0.05%
+20,000
New +$197K
UHAL.B icon
104
CALL
U-Haul Holding Co Series N
UHAL.B
$12.6B
$210K 0.04%
4,000
– –
MCAA
105
DELISTED
Mountain & Co. I Acquisition Corp. Class A Ordinary Shares
MCAA
$198K 0.04%
+17,777
New +$196K
LZM.WS icon
106
Lifezone Metals Ltd Warrants
LZM.WS
$20.6M
$197K 0.04%
+166,691
New +$145K
FLD
107
Fold Holdings
FLD
$22.9M
$195K 0.04%
+18,632
New +$194K
ENVX icon
108
Enovix
ENVX
$866M
$193K 0.04%
+17,535
New +$251K
AIV
109
CALL
Aimco
AIV
$375M
$192K 0.04%
28,200
– –
PHYT
110
DELISTED
Pyrophyte Acquisition Corp.
PHYT
$163K 0.03%
14,961
– –
BCTX
111
Briacell Therapeutics
BCTX
$30.2M
$156K 0.03%
+166
New +$162K
LSDI
112
DELISTED
Lucy Scientific Discovery Inc. Common Stock
LSDI
$150K 0.03%
25,000
– –
USAR
113
USA Rare Earth Inc
USAR
$3.44B
$141K 0.03%
+13,760
New +$140K
ESHA
114
DELISTED
ESH Acquisition Corp
ESHA
$138K 0.03%
+13,657
New +$138K
SCLX icon
115
PUT
Scilex Holding
SCLX
$48M
$136K 0.03%
+2,783
New +$381K
FSM icon
116
CALL
Fortuna Silver Mines
FSM
$2.55B
$136K 0.03%
+50,000
New +$157K
SOC.WS
117
DELISTED
Sable Offshore Corp. Warrants, each whole warrant exercisable for one share of Common Stock at an exercise price of $11.50
SOC.WS
$132K 0.03%
165,158
-120,155
-42% -$62.1K
PMT
118
PennyMac Mortgage Investment
PMT
$854M
$131K 0.03%
10,597
-208,618
-95% -$2.73M
SCRM
119
DELISTED
Screaming Eagle Acquisition Corp. Class A Ordinary Shares
SCRM
$121K 0.03%
+11,540
New +$120K
DTI icon
120
Drilling Tools International
DTI
$79.4M
$101K 0.02%
25,950
– –
DMAQR
121
DELISTED
Deep Medicine Acquisition Corp. Rights
DMAQR
$97.8K 0.02%
280,361
+113,779
+68% +$30K
FSM icon
122
Fortuna Silver Mines
FSM
$2.55B
$86.1K 0.02%
+31,663
New +$99.3K
SJT
123
San Juan Basin Royalty Trust
SJT
$117M
$72.2K 0.02%
10,418
-85,598
-89% -$616K
RWT
124
Redwood Trust
RWT
$587M
$71.4K 0.02%
10,014
-69,048
-87% -$508K
TRTL.WS
125
DELISTED
TortoiseEcofin Acquisition Corp. III Warrant, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 per share
TRTL.WS
$58.1K 0.01%
445,943
+429,318
+2,582% +$58.1K
3 4
5
6 7

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K2 Principal Fund's Q3 2023 Portfolio in Review

As of Q3 2023, K2 Principal Fund held 320 positions worth $477M, up 9.2% from $437M the previous quarter. Its ten largest holdings account for 33% of the portfolio.

K2 Principal Fund withdrew a net $122M in Q3 2023, closing 94 positions and reducing 48 holdings. Its most notable exit was World Acceptance Corp, an estimated $7.53M position sold in full.

By sector, the portfolio is most concentrated in Technology at 6.5% of assets, up from 5.6% a quarter earlier, followed by Healthcare and Financials.

Against the trend, K2 Principal Fund opened a new position in Mr. Cooper worth $7.57M.

  • K2 Principal Fund's largest Q3 2023 buy was Mr. Cooper: 141,363 shares worth $7.57M.
  • K2 Principal Fund added most to ARS Pharmaceuticals in Q3 2023, an estimated $8.4M increase.
  • K2 Principal Fund's biggest Q3 2023 reduction was PennyMac Mortgage Investment, cutting an estimated $2.73M.
  • K2 Principal Fund fully exited World Acceptance Corp in Q3 2023, selling an estimated $7.53M.
  • K2 Principal Fund's ten largest holdings make up 33% of its $477M portfolio in Q3 2023.
  • K2 Principal Fund opened 93 new positions and closed 94 in Q3 2023.
  • K2 Principal Fund's portfolio value rose 9.2% quarter-over-quarter to $477M.

Based on K2 Principal Fund's 13F filing for Q3 2023, filed 13 Nov 2023.