# Sonic Fund II, L.P.

> Institutional holdings reported to the SEC as of Q3 2022 on Form 13F. CIK 1771377. Source: https://holderbook.com/funds/1771377-sonic-fund-ii-l-p/

- Reported value: $147.2M
- Positions: 27
- Weight of the ten largest: 61.5%
- Filed: 2022-11-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| FENNEC PHARMACEUTICALS INC | [FENC](https://holderbook.com/stocks/FENC/) | $19.5M | 2,407,357 | 13.2% | 12 |
| SPIRIT AIRLS INC | [SAVEQ](https://holderbook.com/stocks/SAVEQ/) | $11.3M | 600,000 | 7.7% | 11 |
| BRIGHTHOUSE FINL INC | [BHF](https://holderbook.com/stocks/BHF/) | $8.7M | 200,000 | 5.9% | 5 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $8.4M | 200,740 | 5.7% | 8 |
| GENWORTH FINL INC | [GNW](https://holderbook.com/stocks/GNW/) | $8.2M | 2,333,830 | 5.5% | 12 |
| ALGOMA STL GROUP INC | [ASTL](https://holderbook.com/stocks/ASTL/) | $7.7M | 1,200,000 | 5.2% | 4 |
| KOHLS CORP | [KSS](https://holderbook.com/stocks/KSS/) | $7.5M | 300,000 | 5.1% | 2 |
| UNITED PARKS & RESORTS INC | [PRKS](https://holderbook.com/stocks/PRKS/) | $6.8M | 150,000 | 4.6% | 10 |
| ADVERUM BIOTECHNOLOGIES INC | [ADVM](https://holderbook.com/stocks/ADVM/) | $6.2M | 6,552,068 | 4.2% | 12 |
| CEDAR FAIR L P | [FUNXXXX](https://holderbook.com/stocks/FUNXXXX/) | $6.2M | 150,000 | 4.2% | 10 |
| RADIAN GROUP INC | [RDN](https://holderbook.com/stocks/RDN/) | $5.8M | 300,000 | 3.9% | 11 |
| UNITED AIRLS HLDGS INC | [UAL](https://holderbook.com/stocks/UAL/) | $5.6M | 171,785 | 3.8% | 10 |
| UNITED STATES STL CORP NEW | [X](https://holderbook.com/stocks/X/) | $5.4M | 300,000 | 3.7% | 6 |
| US FOODS HLDG CORP | [USFD](https://holderbook.com/stocks/USFD/) | $5.3M | 200,000 | 3.6% | 11 |
| REGENXBIO INC | [RGNX](https://holderbook.com/stocks/RGNX/) | $5.1M | 193,079 | 3.5% | 12 |
| ENTERPRISE PRODS PARTNERS L | [EPD](https://holderbook.com/stocks/EPD/) | $4.8M | 200,000 | 3.2% | 10 |
| VIRTU FINL INC | [VIRT](https://holderbook.com/stocks/VIRT/) | $4.2M | 200,000 | 2.8% | 7 |
| HAWAIIAN HOLDINGS INC | [HA](https://holderbook.com/stocks/HA/) | $3.9M | 300,000 | 2.7% | 11 |
| AUTHID INC | [AUID](https://holderbook.com/stocks/AUID/) | $2.9M | 1,000,000 | 2.0% | 3 |
| BP PLC | [BP](https://holderbook.com/stocks/BP/) | $2.9M | 100,000 | 1.9% | 7 |
| TRONOX HOLDINGS PLC | [TROX](https://holderbook.com/stocks/TROX/) | $2.6M | 213,055 | 1.8% | 12 |
| REE AUTOMOTIVE LTD | [REE](https://holderbook.com/stocks/REE/) | $2.5M | 3,602,395 | 1.7% | 3 |
| ARCELORMITTAL SA LUXEMBOURG | [MT](https://holderbook.com/stocks/MT/) | $2.0M | 100,000 | 1.4% | 5 |
| SIRIUSPOINT LTD | [SPNT](https://holderbook.com/stocks/SPNT/) | $2.0M | 402,185 | 1.4% | 7 |
| UNIQURE NV | [QURE](https://holderbook.com/stocks/QURE/) | $938.0K | 50,000 | 0.6% | 4 |
| OLYMPIC STEEL INC | [ZEUS](https://holderbook.com/stocks/ZEUS/) | $684.0K | 30,000 | 0.5% | 5 |
| ALGOMA STL GROUP INC | [ASTLW](https://holderbook.com/stocks/ASTLW/) | $269.0K | 279,995 | 0.2% | 4 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q3 2022 | -6.6% | -5.3% | -1.3% | 100% |
| Q2 2022 | -20.1% | -16.5% | -3.7% | 100% |
| Q1 2022 | +5.9% | -4.9% | +10.8% | 100% |
| Q4 2021 | -10.9% | +10.7% | -21.5% | 94% |
| Q3 2021 | -4.9% | +0.3% | -5.2% | 100% |
| Q2 2021 | -14.1% | +8.0% | -22.1% | 100% |
| Q1 2021 | +7.1% | +6.0% | +1.1% | 98% |
| Q4 2020 | +27.8% | +11.6% | +16.2% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q3 2022 | $147.2M | 27 |
| Q2 2022 | $163.8M | 27 |
| Q1 2022 | $178.0M | 26 |
| Q4 2021 | $154.4M | 26 |
| Q3 2021 | $177.0M | 29 |
| Q2 2021 | $219.4M | 27 |
| Q1 2021 | $242.1M | 23 |
| Q4 2020 | $206.9M | 20 |
| Q3 2020 | $142.2M | 18 |
| Q2 2020 | $201.0M | 17 |
| Q1 2020 | $115.4M | 12 |
| Q4 2019 | $97.4M | 7 |