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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
+9.1%
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
$901M
AUM Growth
+$206M
Cap. Flow
-$198M
Cap. Flow %
-21.99%
Top 10 Hldgs %
20.65%
Holding
406
New
128
Increased
42
Reduced
35
Closed
102

Top Buys

Rank Stock Value
1
WLAC
Willow Lane Acquisition Corp
WLAC
+$9.24M
2
DYNC
Dynamix Corp
DYNC
+$8.53M
3
MLACU
Mountain Lake Acquisition Corp Units
MLACU
+$7.5M
4
TDACU
Translational Development Acquisition Corp Units
TDACU
+$6.76M
5
SEI
Solaris Energy Infrastructure
SEI
+$6.13M

Top Sells

Rank Stock Value
1
VACHU
Voyager Acquisition Corp Unit
VACHU
+$10.4M
2
HONDU
HCM II Acquisition Corp Unit
HONDU
+$7.76M
3
VCICU
Vine Hill Capital Investment Corp Unit
VCICU
+$7.25M
4
PMT
PennyMac Mortgage Investment
PMT
+$5.84M
5
POLEU
Andretti Acquisition Corp II Unit
POLEU
+$5.4M

Sector Composition

Rank Sector Weight
1 Financials 4.72%
2 Technology 2.72%
3 Energy 2.11%
4 Communication Services 1.71%
5 Consumer Discretionary 1.34%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SVIIR
226
DELISTED
Spring Valley Acquisition Corp II Rights
SVIIR
$7K ﹤0.01%
100,000
-100,000
-50% -$6.68K
BOWNR
227
DELISTED
Bowen Acquisition Corp Rights
BOWNR
$5.92K ﹤0.01%
29,596
– –
BNIXW
228
DELISTED
Bannix Acquisition Corp. Warrant
BNIXW
$4.45K ﹤0.01%
148,397
– –
GRAF.WS
229
DELISTED
Graf Global Corp Warrants
GRAF.WS
$4.25K ﹤0.01%
32,657
– –
CHEB.WS
230
DELISTED
Chenghe Acquisition II Co. Redeemable Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50
CHEB.WS
$4.2K ﹤0.01%
105,037
– –
RFAIR
231
RF Acquisition Corp II Right
RFAIR
$3K ﹤0.01%
50,000
– –
ATMCW
232
DELISTED
AlphaTime Acquisition Corp Warrant
ATMCW
$2.83K ﹤0.01%
141,606
– –
FORLW
233
DELISTED
Four Leaf Acquisition Corp Warrants
FORLW
$2.78K ﹤0.01%
55,548
-32,308
-37% -$1.92K
WINVW
234
DELISTED
WinVest Acquisition Corp. Warrant
WINVW
$2.58K ﹤0.01%
257,731
– –
BYNOW
235
DELISTED
byNordic Acquisition Corporation Warrant
BYNOW
$2.2K ﹤0.01%
55,050
– –
HYAC.WS
236
DELISTED
Haymaker Acquisition Corp 4 Warrants
HYAC.WS
$1.75K ﹤0.01%
12,500
– –
AEM icon
237
CALL
Agnico Eagle Mines
AEM
$75.4B
– –
-43,900
Closed -$3.54M
ALB icon
238
CALL
Albemarle
ALB
$13.9B
– –
-10,000
Closed -$947K
BAM icon
239
Brookfield Asset Management
BAM
$76.6B
– –
-17,096
Closed -$1.09M
KEEL
240
Keel Infrastructure Corp
KEEL
$2.45B
– –
-30,745
Closed -$64.9K
BTDR icon
241
Bitdeer Technologies
BTDR
$2.7B
– –
-20,000
Closed -$157K
BTDR icon
242
PUT
Bitdeer Technologies
BTDR
$2.7B
– –
-75,000
Closed -$587K
BTU icon
243
CALL
Peabody Energy
BTU
$2.61B
– –
-82,500
Closed -$2.19M
BTU icon
244
Peabody Energy
BTU
$2.61B
– –
-19,100
Closed -$507K
CLF icon
245
Cleveland-Cliffs
CLF
$6.64B
– –
-185,000
Closed -$2.23M
CNI icon
246
CALL
Canadian National Railway
CNI
$76.9B
– –
-15,000
Closed -$1.76M
CNQ icon
247
Canadian Natural Resources
CNQ
$98.6B
– –
-12,300
Closed -$408K
CORZZ icon
248
Core Scientific Inc Tranche 2 Warrants
CORZZ
$1.79B
– –
-15,951
Closed -$188K
CP icon
249
Canadian Pacific Kansas City
CP
$78.3B
– –
-18,400
Closed -$1.57M
DIST
250
DELISTED
Distoken Acquisition Corp
DIST
– –
-37,572
Closed -$408K
8 9
10
11 12

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LCG
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K2 Principal Fund's Q4 2024 Portfolio in Review

As of Q4 2024, K2 Principal Fund held 406 positions worth $901M, up 30% from $695M the previous quarter. Its ten largest holdings account for 21% of the portfolio.

K2 Principal Fund withdrew a net $198M in Q4 2024, closing 102 positions and reducing 35 holdings. Its most notable exit was Voyager Acquisition Corp Unit, an estimated $10.4M position sold in full.

By sector, the portfolio is most concentrated in Financials at 4.7% of assets, up from 3.2% a quarter earlier, followed by Technology and Energy.

Against the trend, K2 Principal Fund opened a new position in Willow Lane Acquisition Corp worth $9.24M.

  • K2 Principal Fund's largest Q4 2024 buy was Willow Lane Acquisition Corp: 933,888 shares worth $9.24M.
  • K2 Principal Fund added most to Alphabet (Google) Class C in Q4 2024, an estimated $3.01M increase.
  • K2 Principal Fund's biggest Q4 2024 reduction was Presidio Production Co, cutting an estimated $2.6M.
  • K2 Principal Fund fully exited Voyager Acquisition Corp Unit in Q4 2024, selling an estimated $10.4M.
  • K2 Principal Fund's ten largest holdings make up 21% of its $901M portfolio in Q4 2024.
  • K2 Principal Fund opened 128 new positions and closed 102 in Q4 2024.
  • K2 Principal Fund's portfolio value rose 30% quarter-over-quarter to $901M.

Based on K2 Principal Fund's 13F filing for Q4 2024, filed 14 Feb 2025.