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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
DOO
251
PUT
Bombardier Recreational Products
DOO
$4.58B
– –
-6,200
Closed -$369K
ERO icon
252
PUT
Ero Copper
ERO
$2.82B
– –
-50,000
Closed -$1.11M
GOOS
253
Canada Goose Holdings
GOOS
$904M
– –
-40,000
Closed -$409K
GROY icon
254
Gold Royalty Corp
GROY
$621M
– –
-537,175
Closed -$731K
GSM icon
255
FerroAtlántica
GSM
$600M
– –
-100,000
Closed -$464K
HUBCZ icon
256
Hub Cyber Security Warrant
HUBCZ
$114K
– –
-1,950,375
Closed –
IMO icon
257
Imperial Oil
IMO
$62.3B
– –
-9,000
Closed -$634K
INTC icon
258
CALL
Intel
INTC
$460B
– –
-35,000
Closed -$821K
INTC icon
259
Intel
INTC
$460B
– –
-100,000
Closed -$2.35M
ITOS
260
DELISTED
iTeos Therapeutics
ITOS
– –
-534,951
Closed -$4.6M
JELD icon
261
JELD-WEN Holding
JELD
$117M
– –
-17,602
Closed -$278K
KGC icon
262
Kinross Gold
KGC
$28.2B
– –
-23,400
Closed -$219K
KREF
263
CALL
KKR Real Estate Finance Trust
KREF
$453M
– –
-500,000
Closed -$6.17M
MBI icon
264
MBIA
MBI
$274M
– –
-48,449
Closed -$173K
MDU icon
265
CALL
MDU Resources
MDU
$4.17B
– –
-72,200
Closed -$1.1M
MKSI icon
266
MKS Inc
MKSI
$19.8B
– –
-12,849
Closed -$1.4M
MLM icon
267
CALL
Martin Marietta Materials
MLM
$32.4B
– –
-1,500
Closed -$807K
MLM icon
268
Martin Marietta Materials
MLM
$32.4B
– –
-1,500
Closed -$807K
MODV
269
DELISTED
ModivCare
MODV
– –
-158,820
Closed -$2.51M
MU icon
270
Micron Technology
MU
$988B
– –
-7,500
Closed -$778K
NE icon
271
CALL
Noble Corp
NE
$6.62B
– –
-10,000
Closed -$361K
NE icon
272
Noble Corp
NE
$6.62B
– –
-10,900
Closed -$394K
NEM icon
273
CALL
Newmont
NEM
$101B
– –
-25,000
Closed -$1.34M
NLOP
274
CALL
Net Lease Office Properties
NLOP
$174M
– –
-25,000
Closed -$766K
NVDA icon
275
PUT
NVIDIA
NVDA
$4.72T
– –
-20,000
Closed -$2.43M
9 10
11
12 13

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KGI
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SC
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WIM
Weitz Investment Management Omaha, Nebraska $1.43B AUM 0.51% 1-Year Est. Return
LCG
Luxor Capital Group New York $1.43B AUM 30.88% 1-Year Est. Return
CCM
Callodine Capital Management Boston, Massachusetts $1.43B AUM 8.74% 1-Year Est. Return
TS
Triglav Skladi Ljubljana, Slovenia $1.43B AUM 39.24% 1-Year Est. Return
SMA
Sage Mountain Advisors Atlanta, Georgia $1.43B AUM 16.47% 1-Year Est. Return
SCA
Stonebridge Capital Advisors St Paul, Minnesota $1.43B AUM 21.98% 1-Year Est. Return

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.