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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
-0.79%
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
$871M
AUM Growth
-$35.6M
Cap. Flow
-$72.1M
Cap. Flow %
-8.28%
Top 10 Hldgs %
31.88%
Holding
420
New
69
Increased
48
Reduced
66
Closed
133

Top Buys

Rank Stock Value
1
COOP
Mr. Cooper
COOP
+$24.3M
2
PMT
PennyMac Mortgage Investment
PMT
+$19.5M
3
SJT
San Juan Basin Royalty Trust
SJT
+$8.97M
4
SPRY icon
ARS Pharmaceuticals
SPRY
+$8.41M
5
TWO
Two Harbors Investment
TWO
+$6.57M

Top Sells

Rank Stock Value
1
TSLA icon
Tesla
TSLA
+$52M
2
COIN icon
Coinbase
COIN
+$16M
3
SIVB
SVB Financial Group
SIVB
+$15.9M
4
CIXX
CI Financial Corp.
CIXX
+$11.9M
5
GME icon
GameStop
GME
+$11.8M

Sector Composition

Rank Sector Weight
1 Financials 7.96%
2 Real Estate 4.84%
3 Healthcare 4.77%
4 Consumer Discretionary 4.27%
5 Energy 2.48%
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
$53.6M 6.15%
+150,000
New +$59.6M
SPY icon
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$777B
$39.3M 4.51%
+110,000
New +$43.7M
CIXX
3
DELISTED
CI Financial Corp.
CIXX
$29.4M 3.37%
3,070,510
-1,077,300
-26% -$11.9M
IEI icon
4
PUT
iShares 3-7 Year Treasury Bond ETF
IEI
$18.1B
$25.7M 2.95%
225,000
+125,000
+125% +$14.8M
LQD icon
5
PUT
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.7B
$25.6M 2.94%
+250,000
New +$27.6M
COOP
6
DELISTED
Mr. Cooper
COOP
$23.3M 2.67%
+574,409
New +$24.3M
TLT icon
7
CALL
iShares 20+ Year Treasury Bond ETF
TLT
$42.1B
$20.5M 2.35%
200,000
-102,300
-34% -$11.5M
FCX icon
8
PUT
Freeport-McMoran
FCX
$91.3B
$20.4M 2.35%
747,500
+96,500
+15% +$2.82M
CIXX
9
CALL
DELISTED
CI Financial Corp.
CIXX
$20.3M 2.33%
+1,535,300
New +$17M
RIVN icon
10
Rivian
RIVN
$23.8B
$19.6M 2.25%
595,293
+156,184
+36% +$5.32M
SJT
11
San Juan Basin Royalty Trust
SJT
$118M
$17.3M 1.98%
1,835,316
+762,525
+71% +$8.97M
SPRY icon
12
ARS Pharmaceuticals
SPRY
$596M
$16.9M 1.94%
3,247,533
+1,705,827
+111% +$8.41M
PMT
13
PennyMac Mortgage Investment
PMT
$835M
$15.7M 1.81%
+1,335,843
New +$19.5M
TLT icon
14
PUT
iShares 20+ Year Treasury Bond ETF
TLT
$42.1B
$15.4M 1.76%
150,000
-40,800
-21% -$4.59M
HTZWW
15
Hertz Global Holdings Warrants
HTZWW
$75.5M
$13.2M 1.52%
1,488,111
+16,625
+1% +$179K
NMRK icon
16
Newmark Group
NMRK
$2.67B
$13.1M 1.51%
1,630,260
-380,255
-19% -$3.92M
COIN icon
17
CALL
Coinbase
COIN
$42.5B
$11.4M 1.31%
177,000
+144,500
+445% +$10.1M
CLF icon
18
PUT
Cleveland-Cliffs
CLF
$6.25B
$11.4M 1.31%
844,500
+496,500
+143% +$8.26M
IWM icon
19
PUT
iShares Russell 2000 ETF
IWM
$81.2B
$10.8M 1.23%
65,200
+25,200
+63% +$4.6M
X
20
PUT
DELISTED
US Steel
X
$9.56M 1.1%
527,500
+31,000
+6% +$663K
FRPT icon
21
PUT
Freshpet
FRPT
$2.78B
$9.4M 1.08%
+187,600
New +$8.85M
SMH icon
22
PUT
VanEck Semiconductor ETF
SMH
$69.8B
$8.79M 1.01%
+95,000
New +$10.4M
ABNB icon
23
CALL
Airbnb
ABNB
$81.6B
$8.53M 0.98%
81,200
+72,000
+783% +$7.98M
MT icon
24
PUT
ArcelorMittal
MT
$49.9B
$8.26M 0.95%
+415,000
New +$9.51M
DASH icon
25
CALL
DoorDash
DASH
$74B
$8.24M 0.95%
166,700
+132,500
+387% +$8.85M
1
2 3 4 5

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LCG
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K2 Principal Fund's Q3 2022 Portfolio in Review

As of Q3 2022, K2 Principal Fund held 420 positions worth $871M, down 3.9% from $907M the previous quarter. Its ten largest holdings account for 32% of the portfolio.

K2 Principal Fund withdrew a net $72.1M in Q3 2022, closing 133 positions and reducing 66 holdings. Its most notable exit was Tesla, an estimated $52M position sold in full.

By sector, the portfolio is most concentrated in Financials at 8% of assets, down from 13% a quarter earlier, followed by Real Estate and Healthcare.

Against the trend, K2 Principal Fund opened a new position in Mr. Cooper worth $23.3M.

  • K2 Principal Fund's largest Q3 2022 buy was Mr. Cooper: 574,409 shares worth $23.3M.
  • K2 Principal Fund added most to San Juan Basin Royalty Trust in Q3 2022, an estimated $8.97M increase.
  • K2 Principal Fund's biggest Q3 2022 reduction was Coinbase, cutting an estimated $16M.
  • K2 Principal Fund fully exited Tesla in Q3 2022, selling an estimated $52M.
  • K2 Principal Fund's ten largest holdings make up 32% of its $871M portfolio in Q3 2022.
  • K2 Principal Fund opened 69 new positions and closed 133 in Q3 2022.
  • K2 Principal Fund's portfolio value fell 3.9% quarter-over-quarter to $871M.

Based on K2 Principal Fund's 13F filing for Q3 2022, filed 14 Nov 2022.