K2 PRINCIPAL FUND, L.P.

Filed: 5/11/2023ACC: 0001461790-23-000016

📋 What this filing means

K2 PRINCIPAL FUND, L.P. filed this quarterly 13F‑HR report disclosing 244 equity positions with a total reported market value of $726.64M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

244

Positions

$726.64M

Total AUM (reported)

51.46M

Total Shares

Allocation by class

COM$279.30M38.4%

CL B$25.57M3.5%

20 YR TR BD ETF$25.53M3.5%

CL A$25.13M3.5%

NOTE 3/0$20.97M2.9%

TR UNIT$20.47M2.8%

IBOXX HI YD ETF$20.31M2.8%

Portfolio Concentration

Top 3$78.82M10.8%

4–10$143.79M19.8%

11–25$169.58M23.3%

Rest$334.44M46.0%

Top 3 weight

10.8%

Top 10 weight

30.6%

Voting Authority Distribution

Total shares with voting rights: 51.46M

Sole

Full voting authority

51.46M

% of voting shares100.0%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

0.00

% of voting shares0.0%

Investment Discretion (by position count)

Sole244

Shared0

Other0

Dominant voting typeSole · 100.0% of voting shares

Institutional Holdings244

Rows:

TARGET CORP

SOLE

COM

Shares167.40K

TypeSH

Market value$27.73M

3.82%

Sole

167.40K

Shared

0.00

None

0.00

FREEPORT-MCMORAN INC

SOLE

CL B

Shares625K

TypeSH

Market value$25.57M

3.52%

Sole

625K

Shared

0.00

None

0.00

ISHARES TR

SOLE

20 YR TR BD ETF

Shares240K

TypeSH

Market value$25.53M

3.51%

Sole

240K

Shared

0.00

None

0.00

BANK NOVA SCOTIA HALIFAX

SOLE

COM

Shares481.80K

TypeSH

Market value$24.26M

3.34%

Sole

481.80K

Shared

0.00

None

0.00

FRESHPET INC

SOLE

COM

Shares321.30K

TypeSH

Market value$21.27M

2.93%

Sole

321.30K

Shared

0.00

None

0.00

SPDR SP 500 ETF TR

SOLE

TR UNIT

Shares50K

TypeSH

Market value$20.47M

2.82%

Sole

50K

Shared

0.00

None

0.00

ISHARES TR

SOLE

IBOXX HI YD ETF

Shares268.80K

TypeSH

Market value$20.31M

2.79%

Sole

268.80K

Shared

0.00

None

0.00

ATLANTICA SUSTAINABLE INFRA

SOLE

NOTE 4.000 7/1

Shares19.30K

TypePRN

Market value$19.75M

2.72%

Sole

19.30K

Shared

0.00

None

0.00

SPDR SER TR

SOLE

SP METALS MNG

Shares365K

TypeSH

Market value$19.40M

2.67%

Sole

365K

Shared

0.00

None

0.00

ARS PHARMACEUTICALS INC

SOLE

COM

Shares2.82M

TypeSH

Market value$18.33M

2.52%

Sole

2.82M

Shared

0.00

None

0.00

DROPBOX INC

SOLE

NOTE 3/0

Shares15.86K

TypePRN

Market value$14.09M

1.94%

Sole

15.86K

Shared

0.00

None

0.00

SPLUNK INC

SOLE

NOTE 0.500 9/1

Shares13.34K

TypePRN

Market value$13.02M

1.79%

Sole

13.34K

Shared

0.00

None

0.00

SAN JUAN BASIN RTY TR

SOLE

UNIT BEN INT

Shares1.21M

TypeSH

Market value$12.75M

1.76%

Sole

1.21M

Shared

0.00

None

0.00

WISDOMTREE INC

SOLE

NOTE 4.250 6/1

Shares12K

TypePRN

Market value$12.52M

1.72%

Sole

12K

Shared

0.00

None

0.00

MR COOPER GROUP INC

SOLE

COM

Shares286.21K

TypeSH

Market value$11.73M

1.61%

Sole

286.21K

Shared

0.00

None

0.00

ROYAL GOLD INC

SOLE

COM

Shares89K

TypeSH

Market value$11.54M

1.59%

Sole

89K

Shared

0.00

None

0.00

ENVESTNET INC

SOLE

NOTE 0.750 8/1

Shares12.50K

TypePRN

Market value$11.28M

1.55%

Sole

12.50K

Shared

0.00

None

0.00

MARATHON PETE CORP

SOLE

COM

Shares82K

TypeSH

Market value$11.06M

1.52%

Sole

82K

Shared

0.00

None

0.00

SPOTIFY USA INC

SOLE

NOTE 3/1

Shares13K

TypePRN

Market value$10.86M

1.50%

Sole

13K

Shared

0.00

None

0.00

NUTANIX INC

SOLE

NOTE 0.25010/0

Shares13K

TypePRN

Market value$10.82M

1.49%

Sole

13K

Shared

0.00

None

0.00

ROYAL CARIBBEAN GROUP

SOLE

COM

Shares162.50K

TypeSH

Market value$10.61M

1.46%

Sole

162.50K

Shared

0.00

None

0.00

PENNYMAC MTG INVT TR

SOLE

COM

Shares839.53K

TypeSH

Market value$10.35M

1.42%

Sole

839.53K

Shared

0.00

None

0.00

TOLL BROTHERS INC

SOLE

COM

Shares166.60K

TypeSH

Market value$10.00M

1.38%

Sole

166.60K

Shared

0.00

None

0.00

DOCUSIGN INC

SOLE

NOTE 1/1

Shares10.23K

TypePRN

Market value$9.78M

1.35%

Sole

10.23K

Shared

0.00

None

0.00

ISHARES GOLD TR

SOLE

ISHARES NEW

Shares245K

TypeSH

Market value$9.16M

1.26%

Sole

245K

Shared

0.00

None

0.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole
TARGET CORPSOLE	COM	167.40K	SH	$27.73M 3.82%	167.40K
FREEPORT-MCMORAN INCSOLE	CL B	625K	SH	$25.57M 3.52%	625K
ISHARES TRSOLE	20 YR TR BD ETF	240K	SH	$25.53M 3.51%	240K
BANK NOVA SCOTIA HALIFAXSOLE	COM	481.80K	SH	$24.26M 3.34%	481.80K
FRESHPET INCSOLE	COM	321.30K	SH	$21.27M 2.93%	321.30K
SPDR SP 500 ETF TRSOLE	TR UNIT	50K	SH	$20.47M 2.82%	50K
ISHARES TRSOLE	IBOXX HI YD ETF	268.80K	SH	$20.31M 2.79%	268.80K
ATLANTICA SUSTAINABLE INFRASOLE	NOTE 4.000 7/1	19.30K	PRN	$19.75M 2.72%	19.30K
SPDR SER TRSOLE	SP METALS MNG	365K	SH	$19.40M 2.67%	365K
ARS PHARMACEUTICALS INCSOLE	COM	2.82M	SH	$18.33M 2.52%	2.82M
DROPBOX INCSOLE	NOTE 3/0	15.86K	PRN	$14.09M 1.94%	15.86K
SPLUNK INCSOLE	NOTE 0.500 9/1	13.34K	PRN	$13.02M 1.79%	13.34K
SAN JUAN BASIN RTY TRSOLE	UNIT BEN INT	1.21M	SH	$12.75M 1.76%	1.21M
WISDOMTREE INCSOLE	NOTE 4.250 6/1	12K	PRN	$12.52M 1.72%	12K
MR COOPER GROUP INCSOLE	COM	286.21K	SH	$11.73M 1.61%	286.21K
ROYAL GOLD INCSOLE	COM	89K	SH	$11.54M 1.59%	89K
ENVESTNET INCSOLE	NOTE 0.750 8/1	12.50K	PRN	$11.28M 1.55%	12.50K
MARATHON PETE CORPSOLE	COM	82K	SH	$11.06M 1.52%	82K
SPOTIFY USA INCSOLE	NOTE 3/1	13K	PRN	$10.86M 1.50%	13K
NUTANIX INCSOLE	NOTE 0.25010/0	13K	PRN	$10.82M 1.49%	13K
ROYAL CARIBBEAN GROUPSOLE	COM	162.50K	SH	$10.61M 1.46%	162.50K
PENNYMAC MTG INVT TRSOLE	COM	839.53K	SH	$10.35M 1.42%	839.53K
TOLL BROTHERS INCSOLE	COM	166.60K	SH	$10.00M 1.38%	166.60K
DOCUSIGN INCSOLE	NOTE 1/1	10.23K	PRN	$9.78M 1.35%	10.23K
ISHARES GOLD TRSOLE	ISHARES NEW	245K	SH	$9.16M 1.26%	245K

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