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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
+9.18%
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
$579M
AUM Growth
-$206M
Cap. Flow
-$356M
Cap. Flow %
-61.45%
Top 10 Hldgs %
27.08%
Holding
345
New
120
Increased
30
Reduced
40
Closed
108

Top Buys

Rank Stock Value
1
IAU icon
iShares Gold Trust
IAU
+$8.11M
2
IBIT icon
iShares Bitcoin Trust
IBIT
+$6.24M
3
DJT icon
Trump Media & Technology Group
DJT
+$5.82M
4
INTC icon
Intel
INTC
+$3.56M
5
ZEO
Zeo Energy
ZEO
+$3.48M

Top Sells

Rank Stock Value
1
COOP
Mr. Cooper
COOP
+$13.2M
2
SPRY icon
ARS Pharmaceuticals
SPRY
+$6.23M
3
IVCB
Investcorp Europe Acquisition Corp I Class A Ordinary Shares
IVCB
+$3.62M
4
TLT icon
iShares 20+ Year Treasury Bond ETF
TLT
+$3.55M
5
TRP icon
TC Energy
TRP
+$3.13M

Sector Composition

Rank Sector Weight
1 Financials 7.82%
2 Healthcare 4.46%
3 Technology 4.07%
4 Energy 3.13%
5 Industrials 2.74%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPRY icon
1
ARS Pharmaceuticals
SPRY
$596M
$22.7M 3.92%
2,219,131
-835,202
-27% -$6.23M
TLT icon
2
PUT
iShares 20+ Year Treasury Bond ETF
TLT
$42.1B
$22M 3.79%
+232,000
New +$21.9M
IAU icon
3
iShares Gold Trust
IAU
$62.9B
$10.5M 1.81%
250,000
+206,800
+479% +$8.11M
VOO icon
4
CALL
Vanguard S&P 500 ETF
VOO
$967B
$9.61M 1.66%
20,000
-5,000
-20% -$2.29M
SRG
5
CALL
Seritage Growth Properties
SRG
$130M
$9.4M 1.62%
974,100
+118,300
+14% +$1.11M
GLD icon
6
PUT
SPDR Gold Trust
GLD
$130B
$9.36M 1.62%
+45,500
New +$8.73M
IAU icon
7
PUT
iShares Gold Trust
IAU
$62.9B
$8.4M 1.45%
200,000
-50,000
-20% -$1.96M
XLC icon
8
PUT
State Street Communication Services Select Sector SPDR ETF
XLC
$21.7B
$8.17M 1.41%
+100,000
New +$7.79M
IBIT icon
9
iShares Bitcoin Trust
IBIT
$47.5B
$8.09M 1.4%
+200,000
New +$6.24M
TLT icon
10
CALL
iShares 20+ Year Treasury Bond ETF
TLT
$42.1B
$7.1M 1.23%
75,000
+10,000
+15% +$946K
COOP
11
DELISTED
Mr. Cooper
COOP
$7.05M 1.22%
90,473
-189,037
-68% -$13.2M
PXD
12
DELISTED
Pioneer Natural Resource Co.
PXD
$6.34M 1.09%
24,138
+10,815
+81% +$2.54M
MLM icon
13
CALL
Martin Marietta Materials
MLM
$32.8B
$6.14M 1.06%
+10,000
New +$5.46M
TROW icon
14
CALL
T. Rowe Price
TROW
$24.6B
$6.1M 1.05%
+50,000
New +$5.58M
SMH icon
15
CALL
VanEck Semiconductor ETF
SMH
$69.8B
$5.06M 0.87%
+22,500
New +$4.52M
MDU icon
16
CALL
MDU Resources
MDU
$4.42B
$5.04M 0.87%
+361,000
New +$4.18M
INTC icon
17
Intel
INTC
$504B
$4.86M 0.84%
110,000
+80,000
+267% +$3.56M
SRG
18
Seritage Growth Properties
SRG
$130M
$4.81M 0.83%
498,605
-42,049
-8% -$395K
ACI icon
19
Albertsons Companies
ACI
$5.6B
$4.77M 0.82%
222,700
+32,700
+17% +$701K
TXNM
20
CALL
TXNM Energy Inc
TXNM
$6.45B
$4.5M 0.78%
+119,500
New +$4.45M
UNG icon
21
CALL
United States Natural Gas Fund
UNG
$473M
$4.37M 0.76%
+300,000
New +$5.46M
TROW icon
22
PUT
T. Rowe Price
TROW
$24.6B
$4.27M 0.74%
+35,000
New +$3.91M
BITO icon
23
ProShares Bitcoin Strategy ETF
BITO
$1.42B
$4.2M 0.73%
+130,128
New +$3.27M
FNV icon
24
CALL
Franco-Nevada
FNV
$41.3B
$3.85M 0.66%
32,300
-72,700
-69% -$8M
SANM icon
25
CALL
Sanmina
SANM
$11.7B
$3.73M 0.64%
+60,000
New +$3.49M
1
2 3 4 5

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K2 Principal Fund's Q1 2024 Portfolio in Review

As of Q1 2024, K2 Principal Fund held 345 positions worth $579M, down 26% from $785M the previous quarter. Its ten largest holdings account for 27% of the portfolio.

K2 Principal Fund withdrew a net $356M in Q1 2024, closing 108 positions and reducing 40 holdings. Its most notable exit was Investcorp Europe Acquisition Corp I Class A Ordinary Shares, an estimated $3.62M position sold in full.

By sector, the portfolio is most concentrated in Financials at 7.8% of assets, down from 8.3% a quarter earlier, followed by Healthcare and Technology.

Against the trend, K2 Principal Fund opened a new position in iShares Bitcoin Trust worth $8.09M.

  • K2 Principal Fund's largest Q1 2024 buy was iShares Bitcoin Trust: 200,000 shares worth $8.09M.
  • K2 Principal Fund added most to iShares Gold Trust in Q1 2024, an estimated $8.11M increase.
  • K2 Principal Fund's biggest Q1 2024 reduction was Mr. Cooper, cutting an estimated $13.2M.
  • K2 Principal Fund fully exited Investcorp Europe Acquisition Corp I Class A Ordinary Shares in Q1 2024, selling an estimated $3.62M.
  • K2 Principal Fund's ten largest holdings make up 27% of its $579M portfolio in Q1 2024.
  • K2 Principal Fund opened 120 new positions and closed 108 in Q1 2024.
  • K2 Principal Fund's portfolio value fell 26% quarter-over-quarter to $579M.

Based on K2 Principal Fund's 13F filing for Q1 2024, filed 14 May 2024.