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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
-8.03%
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
$1.16B
AUM Growth
-$351M
Cap. Flow
-$335M
Cap. Flow %
-28.92%
Top 10 Hldgs %
45.37%
Holding
494
New
126
Increased
47
Reduced
55
Closed
192

Top Buys

Rank Stock Value
1
PFSI icon
PennyMac Financial
PFSI
+$32M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$29.2M
3
NMRK icon
Newmark Group
NMRK
+$11.5M
4
COIN icon
Coinbase
COIN
+$9.28M
5
BMO icon
Bank of Montreal
BMO
+$8.82M

Top Sells

Rank Stock Value
1
SKIN icon
SkinHealth Systems
SKIN
+$24.3M
2
BG icon
Bunge Global
BG
+$15.9M
3
CIXX
CI Financial Corp.
CIXX
+$12.4M
4
TRIS
Tristar Acquisition I Corp.
TRIS
+$11.2M
5
SAGAU
Sagaliam Acquisition Corp. Units
SAGAU
+$9.93M

Sector Composition

Rank Sector Weight
1 Financials 16.69%
2 Real Estate 2.6%
3 Technology 2.09%
4 Communication Services 1.94%
5 Consumer Staples 1.7%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$777B
$179M 15.43%
396,100
+246,100
+164% +$110M
PFSI icon
2
PennyMac Financial
PFSI
$4.29B
$84.8M 7.32%
1,594,651
+529,079
+50% +$32M
CIXX
3
DELISTED
CI Financial Corp.
CIXX
$64.3M 5.55%
4,045,910
-696,124
-15% -$12.4M
INSP icon
4
PUT
Inspire Medical Systems
INSP
$1.46B
$63.2M 5.45%
246,100
+202,100
+459% +$46.2M
DASH icon
5
CALL
DoorDash
DASH
$74B
$33.6M 2.9%
+287,000
New +$31M
SPY icon
6
State Street SPDR S&P 500 ETF Trust
SPY
$777B
$29.6M 2.55%
+65,553
New +$29.2M
DASH icon
7
PUT
DoorDash
DASH
$74B
$23.8M 2.05%
+202,700
New +$21.9M
SJT
8
San Juan Basin Royalty Trust
SJT
$118M
$17.9M 1.54%
2,037,213
+22,494
+1% +$157K
ATVI
9
CALL
DELISTED
Activision Blizzard
ATVI
$15.3M 1.32%
191,300
-140,800
-42% -$11M
NMRK icon
10
Newmark Group
NMRK
$2.67B
$14.6M 1.26%
918,057
+707,158
+335% +$11.5M
HTZWW
11
Hertz Global Holdings Warrants
HTZWW
$75.5M
$14.6M 1.26%
951,171
+324,943
+52% +$4.59M
FCX icon
12
PUT
Freeport-McMoran
FCX
$91.3B
$13.5M 1.16%
271,000
+195,900
+261% +$8.68M
SKIN icon
13
SkinHealth Systems
SKIN
$95.9M
$13.3M 1.15%
789,680
-1,474,915
-65% -$24.3M
HYG icon
14
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.3B
$12.3M 1.06%
150,000
-69,800
-32% -$5.84M
LQD icon
15
PUT
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.7B
$10.9M 0.94%
90,000
+40,000
+80% +$4.99M
CIXX
16
CALL
DELISTED
CI Financial Corp.
CIXX
$10.7M 0.93%
540,100
-20,000
-4% -$357K
CDR
17
DELISTED
Cedar Realty Trust, Inc
CDR
$10M 0.86%
361,960
+283,131
+359% +$7.11M
DJT icon
18
PUT
Trump Media & Technology Group
DJT
$2.46B
$9.1M 0.78%
+141,000
New +$10.6M
COIN icon
19
Coinbase
COIN
$42.5B
$9.01M 0.78%
+47,468
New +$9.28M
BMO icon
20
Bank of Montreal
BMO
$124B
$8.98M 0.77%
+76,100
New +$8.82M
CVNA icon
21
CALL
Carvana
CVNA
$43.1B
$8.95M 0.77%
+375,000
New +$10.9M
RIVN icon
22
CALL
Rivian
RIVN
$23.8B
$8.79M 0.76%
+174,900
New +$10.6M
NVRO
23
PUT
DELISTED
NEVRO CORP.
NVRO
$8.3M 0.72%
114,800
+106,800
+1,335% +$7.7M
NUE icon
24
PUT
Nucor
NUE
$54.9B
$8.18M 0.71%
55,000
+50,000
+1,000% +$6.13M
INSP icon
25
Inspire Medical Systems
INSP
$1.46B
$7.93M 0.68%
+30,879
New +$7.06M
1
2 3 4 5

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K2 Principal Fund's Q1 2022 Portfolio in Review

As of Q1 2022, K2 Principal Fund held 494 positions worth $1.16B, down 23% from $1.51B the previous quarter. Its ten largest holdings account for 45% of the portfolio.

K2 Principal Fund withdrew a net $335M in Q1 2022, closing 192 positions and reducing 55 holdings. Its most notable exit was Bunge Global, an estimated $15.9M position sold in full.

By sector, the portfolio is most concentrated in Financials at 17% of assets, up from 16% a quarter earlier, followed by Real Estate and Technology.

Against the trend, K2 Principal Fund opened a new position in State Street SPDR S&P 500 ETF Trust worth $29.6M.

  • K2 Principal Fund's largest Q1 2022 buy was State Street SPDR S&P 500 ETF Trust: 65,553 shares worth $29.6M.
  • K2 Principal Fund added most to PennyMac Financial in Q1 2022, an estimated $32M increase.
  • K2 Principal Fund's biggest Q1 2022 reduction was SkinHealth Systems, cutting an estimated $24.3M.
  • K2 Principal Fund fully exited Bunge Global in Q1 2022, selling an estimated $15.9M.
  • K2 Principal Fund's ten largest holdings make up 45% of its $1.16B portfolio in Q1 2022.
  • K2 Principal Fund opened 126 new positions and closed 192 in Q1 2022.
  • K2 Principal Fund's portfolio value fell 23% quarter-over-quarter to $1.16B.

Based on K2 Principal Fund's 13F filing for Q1 2022, filed 16 May 2022.