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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
BDTX icon
126
Black Diamond Therapeutics
BDTX
$95.1M
$285K 0.04%
158,192
-873,319
-85% -$1.57M
CCL icon
127
PUT
Carnival Corporation Ltd
CCL
$38.1B
$282K 0.04%
35,000
-140,000
-80% -$1.21M
KVSA
128
DELISTED
Khosla Ventures Acquisition Co. Class A Common Stock
KVSA
$237K 0.04%
+23,763
New +$236K
NSTD
129
DELISTED
Northern Star Investment Corp. IV
NSTD
$232K 0.04%
+23,058
New +$230K
MMX
130
DELISTED
Maverix Metals Inc. Common Shares
MMX
$223K 0.03%
+47,672
New +$184K
SPNE
131
DELISTED
SeaSpine Holdings Corporation Common Stock
SPNE
$223K 0.03%
+26,654
New +$179K
AA icon
132
Alcoa
AA
$11.3B
$221K 0.03%
4,859
-30,141
-86% -$1.31M
DLR icon
133
PUT
Digital Realty Trust
DLR
$69.6B
$221K 0.03%
+2,200
New +$225K
SPCE icon
134
CALL
Virgin Galactic
SPCE
$315M
$216K 0.03%
+3,110
New +$290K
NNDM
135
Nano Dimension
NNDM
$314M
$196K 0.03%
+85,000
New +$207K
SOC.WS
136
DELISTED
Sable Offshore Corp. Warrants, each whole warrant exercisable for one share of Common Stock at an exercise price of $11.50
SOC.WS
$185K 0.03%
284,346
-3,400
-1% -$1.58K
KTTA icon
137
Pasithea Therapeutics
KTTA
$15M
$181K 0.03%
14,122
-10,468
-43% -$209K
TYGOW
138
DELISTED
Tigo Energy, Inc. Warrant
TYGOW
$170K 0.03%
790,995
-30,150
-4% -$3.52K
MCAGR
139
DELISTED
Mountain Crest Acquisition Corp. V Right
MCAGR
$164K 0.02%
984,700
-8,700
-0.9% -$1.52K
BYND icon
140
Beyond Meat
BYND
$274M
$147K 0.02%
+11,964
New +$167K
KVSC
141
DELISTED
Khosla Ventures Acquisition Co. III Class A Common Stock
KVSC
$138K 0.02%
+13,893
New +$138K
AGFS
142
DELISTED
AgroFresh Solutions Inc
AGFS
$130K 0.02%
+43,894
New +$110K
VLNS
143
DELISTED
The Valens Company, Inc. Common Shares
VLNS
$129K 0.02%
195,800
-28,900
-13% -$22K
ROCAR
144
DELISTED
ROC Energy Acquisition Corp. Rights
ROCAR
$128K 0.02%
750,000
-50,000
-6% -$4.09K
CERO
145
DELISTED
CERo Therapeutics
CERO
$124K 0.02%
+6
New +$122K
SCMA
146
DELISTED
Seaport Calibre Materials Acquisition Corp. Class A Common Stock
SCMA
$118K 0.02%
+11,545
New +$117K
EONR
147
EON Resources
EONR
$25.4M
$111K 0.02%
+10,840
New +$110K
MBSC.WS
148
DELISTED
M3-Brigade Acquisition III Corp. Public warrants, each whole public warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50 per share
MBSC.WS
$95.1K 0.01%
237,763
+53,137
+29% +$8.47K
LENZ
149
LENZ Therapeutics
LENZ
$179M
$94.4K 0.01%
+4,061
New +$94.1K
VHAQ.RT
150
DELISTED
Viveon Health Acquisition Corp. Rights, each exchangeable into one-twentieth of a share of Common Stock
VHAQ.RT
$94.3K 0.01%
722,804
-501,147
-41% -$62.7K
4 5
6
7 8

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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.