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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
GIA.WS
176
DELISTED
GigCapital 5, Inc. Redeemable Warrants, each exercisable for one share of Common Stock at an exercise price of $11.50 per share
GIA.WS
$16.9K ﹤0.01%
483,036
-436,164
-47% -$12.4K
ASPAW
177
DELISTED
Abri SPAC I Inc Warrant
ASPAW
$16.4K ﹤0.01%
327,492
– –
OCEAW
178
DELISTED
Ocean Biomediacal, Inc. Warrants
OCEAW
$15.8K ﹤0.01%
105,024
-19,976
-16% -$2.78K
LIVBW
179
DELISTED
LIV Capital Acquisition Corp. II Warrants
LIVBW
$15.6K ﹤0.01%
282,790
– –
MCAFR
180
DELISTED
Mountain Crest Acquisition Corp. IV Rights
MCAFR
$15.1K ﹤0.01%
216,314
-484,935
-69% -$69.8K
NOVVR
181
DELISTED
Nova Vision Acquisition Corp. Rights
NOVVR
$15K ﹤0.01%
263,452
-6,548
-2% -$777
AVACW
182
DELISTED
Avalon Acquisition Inc. Warrant
AVACW
$14.8K ﹤0.01%
227,011
-29,395
-11% -$2.04K
BMAQW
183
DELISTED
Blockchain Moon Acquisition Corp. Warrants
BMAQW
$13.6K ﹤0.01%
704,279
-11,903
-2% -$357
MTRYW
184
DELISTED
Monterey Innovation Acquisition Corp. Warrant
MTRYW
$13.2K ﹤0.01%
400,000
– –
ROCLW
185
DELISTED
Roth CH Acquisition V Co. Warrant
ROCLW
$12.8K ﹤0.01%
336,819
– –
ONMDW icon
186
OneMedNet Corp Warrant
ONMDW
$11.6K ﹤0.01%
335,408
– –
WINVW
187
DELISTED
WinVest Acquisition Corp. Warrant
WINVW
$10K ﹤0.01%
588,200
-61,800
-10% -$2.13K
CIIGW
188
DELISTED
CIIG Capital Partners II, Inc. Warrant
CIIGW
$9.47K ﹤0.01%
+118,340
New +$7.81K
AAGRW
189
DELISTED
African Agriculture Holdings Inc Warrant
AAGRW
$8.88K ﹤0.01%
134,569
– –
BMAC.WS
190
DELISTED
Black Mountain Acquisition Corp. Warrants, exercisable for one share of Class A Common Stock
BMAC.WS
$8.36K ﹤0.01%
227,900
+202,900
+812% +$11K
ROSEW
191
DELISTED
Rose Hill Acquisition Corporation Warrant
ROSEW
$8.1K ﹤0.01%
100,000
– –
ESLAW icon
192
Estrella Immunopharma Warrant
ESLAW
$6.98K ﹤0.01%
134,155
-9,792
-7% -$819
XBPEW
193
XBP Europe Holdings Warrant
XBPEW
$6.89K ﹤0.01%
246,196
-52,081
-17% -$3.34K
SCMAW
194
DELISTED
Seaport Calibre Materials Acquisition Corp. Warrant
SCMAW
$6.77K ﹤0.01%
193,450
– –
GWIIW
195
DELISTED
Good Works II Acquisition Corp. Warrant
GWIIW
$6.34K ﹤0.01%
87,509
-293,732
-77% -$46.4K
MCACW
196
DELISTED
Monterey Capital Acquisition Corporation Warrants
MCACW
$6.26K ﹤0.01%
+164,642
New +$6.44K
LIONW
197
DELISTED
Lionheart III Corp Warrant
LIONW
$5.79K ﹤0.01%
222,628
– –
CFIVW
198
DELISTED
CF Acquisition Corp. IV Warrant
CFIVW
$5.72K ﹤0.01%
74,311
-289,216
-80% -$13.8K
ALTUW
199
DELISTED
Altitude Acquisition Corp Warrant
ALTUW
$5.33K ﹤0.01%
91,168
-8,832
-9% -$497
IMAQR
200
DELISTED
International Media Acquisition Corp. Rights
IMAQR
$5.3K ﹤0.01%
75,709
-324,291
-81% -$22.2K
6 7
8
9 10

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WIM
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LCG
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CCM
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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.