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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
+4.79%
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
$785M
AUM Growth
+$308M
Cap. Flow
-$1.15M
Cap. Flow %
-0.15%
Top 10 Hldgs %
37.08%
Holding
337
New
107
Increased
33
Reduced
35
Closed
107

Top Buys

Rank Stock Value
1
COOP
Mr. Cooper
COOP
+$8.17M
2
IVCB
Investcorp Europe Acquisition Corp I Class A Ordinary Shares
IVCB
+$3.6M
3
TXNM
TXNM Energy Inc
TXNM
+$3.43M
4
TLT icon
iShares 20+ Year Treasury Bond ETF
TLT
+$3.39M
5
PXD
Pioneer Natural Resource Co.
PXD
+$3.12M

Top Sells

Rank Stock Value
1
ATVI
Activision Blizzard
ATVI
+$9.83M
2
VMW
VMware, Inc
VMW
+$6.21M
3
CVE icon
Cenovus Energy
CVE
+$4.16M
4
GMED icon
Globus Medical
GMED
+$3.48M
5
NATI
National Instruments Corp
NATI
+$3.35M

Sector Composition

Rank Sector Weight
1 Financials 8.26%
2 Healthcare 2.22%
3 Technology 1.63%
4 Energy 1.34%
5 Consumer Discretionary 1.34%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CCL icon
201
PUT
Carnival Corporation Ltd
CCL
$38B
– –
-50,000
Closed -$686K
CLDT
202
PUT
Chatham Lodging
CLDT
$631M
– –
-100,000
Closed -$957K
CNQ icon
203
Canadian Natural Resources
CNQ
$96.1B
– –
-60,000
Closed -$1.94M
CPRI icon
204
PUT
Capri Holdings
CPRI
$1.78B
– –
-24,900
Closed -$1.31M
CVE icon
205
Cenovus Energy
CVE
$53.9B
– –
-200,000
Closed -$4.16M
DHI icon
206
PUT
D.R. Horton
DHI
$41.8B
– –
-2,500
Closed -$269K
DTI icon
207
Drilling Tools International
DTI
$79.8M
– –
-25,950
Closed -$101K
ERO icon
208
PUT
Ero Copper
ERO
$2.61B
– –
-75,000
Closed -$1.29M
ESHA
209
DELISTED
ESH Acquisition Corp
ESHA
– –
-13,657
Closed -$138K
EVH icon
210
Evolent Health
EVH
$391M
– –
-77,857
Closed -$2.12M
FCX icon
211
PUT
Freeport-McMoran
FCX
$84.7B
– –
-20,000
Closed -$746K
FRPT icon
212
CALL
Freshpet
FRPT
$3.04B
– –
-4,000
Closed -$264K
FSM icon
213
Fortuna Silver Mines
FSM
$2.49B
– –
-31,663
Closed -$106K
GMED icon
214
CALL
Globus Medical
GMED
$10.9B
– –
-44,000
Closed -$2.18M
GMED icon
215
Globus Medical
GMED
$10.9B
– –
-70,103
Closed -$3.48M
HOVRW icon
216
New Horizon Aircraft Ltd
HOVRW
$11.6M
– –
-231,901
Closed -$10.4K
HUBC icon
217
Hub Cyber Security
HUBC
$6.21M
– –
-1
Closed -$379K
IEI icon
218
PUT
iShares 3-7 Year Treasury Bond ETF
IEI
$18.1B
– –
-60,700
Closed -$6.87M
INN
219
PUT
Summit Hotel Properties
INN
$763M
– –
-100,000
Closed -$580K
IYR icon
220
PUT
iShares US Real Estate ETF
IYR
$4.74B
– –
-100,000
Closed -$7.81M
KIM icon
221
Kimco Realty
KIM
$17.6B
– –
-15,123
Closed -$266K
LCID icon
222
CALL
Lucid Motors
LCID
$3.04B
– –
-12,500
Closed -$699K
LEN icon
223
PUT
Lennar Class A
LEN
$20.7B
– –
-5,165
Closed -$561K
MDAIW icon
224
Spectral AI Warrants
MDAIW
$5.67M
– –
-89,595
Closed -$11.6K
MSAIW icon
225
MultiSensor AI Holdings Warrant
MSAIW
$715K
– –
-220,900
Closed -$6.3K
7 8
9
10 11

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K2 Principal Fund's Q4 2023 Portfolio in Review

As of Q4 2023, K2 Principal Fund held 337 positions worth $785M, up 64% from $477M the previous quarter. Its ten largest holdings account for 37% of the portfolio.

K2 Principal Fund's Q4 2023 filing shows 107 new, 33 increased, 35 reduced and 107 closed positions. Its largest new stake was Investcorp Europe Acquisition Corp I Class A Ordinary Shares: 328,498 shares worth $3.62M. The largest sale was Activision Blizzard, an estimated $9.83M.

By sector, the portfolio is most concentrated in Financials at 8.3% of assets, up from 3.8% a quarter earlier, followed by Healthcare and Technology.

  • K2 Principal Fund's largest Q4 2023 buy was Investcorp Europe Acquisition Corp I Class A Ordinary Shares: 328,498 shares worth $3.62M.
  • K2 Principal Fund added most to Mr. Cooper in Q4 2023, an estimated $8.17M increase.
  • K2 Principal Fund's biggest Q4 2023 reduction was U-Haul Holding Co Series N, cutting an estimated $2.02M.
  • K2 Principal Fund fully exited Activision Blizzard in Q4 2023, selling an estimated $9.83M.
  • K2 Principal Fund's ten largest holdings make up 37% of its $785M portfolio in Q4 2023.
  • K2 Principal Fund opened 107 new positions and closed 107 in Q4 2023.
  • K2 Principal Fund's portfolio value rose 64% quarter-over-quarter to $785M.

Based on K2 Principal Fund's 13F filing for Q4 2023, filed 14 Feb 2024.