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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
+2.96%
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
$437M
AUM Growth
-$289M
Cap. Flow
-$451M
Cap. Flow %
-103.14%
Top 10 Hldgs %
29.71%
Holding
349
New
84
Increased
25
Reduced
62
Closed
127

Top Buys

Rank Stock Value
1
ATVI
Activision Blizzard
ATVI
+$5.46M
2
WRLD icon
World Acceptance Corp
WRLD
+$4.62M
3
PFSI icon
PennyMac Financial
PFSI
+$3.57M
4
NUVA
NuVasive, Inc.
NUVA
+$2.9M
5
UHAL icon
U-Haul Holding Co
UHAL
+$2.22M

Top Sells

Rank Stock Value
1
COOP
Mr. Cooper
COOP
+$10.5M
2
SPRY icon
ARS Pharmaceuticals
SPRY
+$9.44M
3
SJT
San Juan Basin Royalty Trust
SJT
+$8.96M
4
PMT
PennyMac Mortgage Investment
PMT
+$7.59M
5
AUY
Yamana Gold, Inc.
AUY
+$7.09M

Sector Composition

Rank Sector Weight
1 Financials 6.76%
2 Technology 5.6%
3 Healthcare 3.73%
4 Real Estate 3.63%
5 Industrials 3.5%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IWM icon
1
PUT
iShares Russell 2000 ETF
IWM
$80.3B
$18.7M 4.28%
100,000
+75,000
+300% +$13.4M
HYG icon
2
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
$11.3M 2.58%
150,000
-118,800
-44% -$8.87M
ATVI
3
DELISTED
Activision Blizzard
ATVI
$8.9M 2.04%
105,600
+67,448
+177% +$5.46M
ATVI
4
PUT
DELISTED
Activision Blizzard
ATVI
$8.9M 2.04%
+105,600
New +$8.55M
SPRY icon
5
ARS Pharmaceuticals
SPRY
$572M
$8.52M 1.95%
1,271,744
-1,414,746
-53% -$9.44M
XME icon
6
PUT
State Street SPDR S&P Metals & Mining ETF
XME
$3.96B
$7.62M 1.74%
150,000
-215,000
-59% -$10.6M
WRLD icon
7
World Acceptance Corp
WRLD
$909M
$7.53M 1.72%
56,203
+42,970
+325% +$4.62M
JNJ icon
8
CALL
Johnson & Johnson
JNJ
$641B
$6.97M 1.59%
42,100
-8,900
-17% -$1.44M
ACI icon
9
Albertsons Companies
ACI
$5.57B
$6.12M 1.4%
280,699
– –
ATVI
10
CALL
DELISTED
Activision Blizzard
ATVI
$5.97M 1.37%
70,800
+52,600
+289% +$4.26M
SRG
11
Seritage Growth Properties
SRG
$133M
$5.56M 1.27%
623,644
-186,918
-23% -$1.49M
IAU icon
12
CALL
iShares Gold Trust
IAU
$63.4B
$5.46M 1.25%
150,000
-95,000
-39% -$3.56M
FCX icon
13
PUT
Freeport-McMoran
FCX
$90.2B
$5M 1.14%
125,000
-500,000
-80% -$19.1M
VMW
14
DELISTED
VMware, Inc
VMW
$4.93M 1.13%
34,337
+4,190
+14% +$544K
SPRY icon
15
CALL
ARS Pharmaceuticals
SPRY
$572M
$4.69M 1.07%
699,900
+682,100
+3,832% +$4.55M
NUVA
16
DELISTED
NuVasive, Inc.
NUVA
$4.42M 1.01%
106,389
+70,619
+197% +$2.9M
PFSI icon
17
PennyMac Financial
PFSI
$4.39B
$3.96M 0.91%
+56,373
New +$3.57M
IRBT
18
PUT
DELISTED
iRobot
IRBT
$3.62M 0.83%
+80,000
New +$3.19M
AIV
19
Aimco
AIV
$377M
$3.56M 0.81%
418,148
+254,956
+156% +$2.07M
SAVE
20
DELISTED
Spirit Airlines, Inc.
SAVE
$3.44M 0.79%
200,727
+60,000
+43% +$983K
HTZ icon
21
Hertz
HTZ
$632M
$3.4M 0.78%
184,957
+71,422
+63% +$1.17M
FRPT icon
22
PUT
Freshpet
FRPT
$2.92B
$3.39M 0.78%
51,500
– –
AJRD
23
DELISTED
Aerojet Rocketdyne Holdings
AJRD
$3.33M 0.76%
60,600
+20,661
+52% +$1.15M
SLV icon
24
CALL
iShares Silver Trust
SLV
$28.3B
$3.13M 0.72%
150,000
-40,000
-21% -$889K
LSI
25
DELISTED
Life Storage, Inc.
LSI
$3.09M 0.71%
23,260
-6,522
-22% -$868K
1
2 3 4 5

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K2 Principal Fund's Q2 2023 Portfolio in Review

As of Q2 2023, K2 Principal Fund held 349 positions worth $437M, down 40% from $727M the previous quarter. Its ten largest holdings account for 30% of the portfolio.

K2 Principal Fund withdrew a net $451M in Q2 2023, closing 127 positions and reducing 62 holdings. Its most notable exit was Mr. Cooper, an estimated $10.5M position sold in full.

By sector, the portfolio is most concentrated in Financials at 6.8% of assets, up from 6% a quarter earlier, followed by Technology and Healthcare.

Against the trend, K2 Principal Fund opened a new position in PennyMac Financial worth $3.96M.

  • K2 Principal Fund's largest Q2 2023 buy was PennyMac Financial: 56,373 shares worth $3.96M.
  • K2 Principal Fund added most to Activision Blizzard in Q2 2023, an estimated $5.46M increase.
  • K2 Principal Fund's biggest Q2 2023 reduction was ARS Pharmaceuticals, cutting an estimated $9.44M.
  • K2 Principal Fund fully exited Mr. Cooper in Q2 2023, selling an estimated $10.5M.
  • K2 Principal Fund's ten largest holdings make up 30% of its $437M portfolio in Q2 2023.
  • K2 Principal Fund opened 84 new positions and closed 127 in Q2 2023.
  • K2 Principal Fund's portfolio value fell 40% quarter-over-quarter to $437M.

Based on K2 Principal Fund's 13F filing for Q2 2023, filed 15 Aug 2023.