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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
+3.32%
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
$1.51B
AUM Growth
+$279M
Cap. Flow
+$223M
Cap. Flow %
14.8%
Top 10 Hldgs %
40.05%
Holding
511
New
204
Increased
73
Reduced
35
Closed
140

Top Buys

Rank Stock Value
1
SKIN icon
SkinHealth Systems
SKIN
+$43.2M
2
PFSI icon
PennyMac Financial
PFSI
+$21.6M
3
SJT
San Juan Basin Royalty Trust
SJT
+$12.6M
4
WFG icon
West Fraser Timber
WFG
+$11.3M
5
TRIS
Tristar Acquisition I Corp.
TRIS
+$11.2M

Top Sells

Rank Stock Value
1
PMT
PennyMac Mortgage Investment
PMT
+$23.6M
2
HHH icon
Howard Hughes
HHH
+$19.2M
3
PFTAU
Perception Capital Corp. III Unit
PFTAU
+$15.9M
4
SKINW
The Beauty Health Company Warrant expiring 5/4/2026
SKINW
+$11.4M
5
SOND
Sonder
SOND
+$10.1M

Sector Composition

Rank Sector Weight
1 Financials 16.28%
2 Consumer Staples 4.73%
3 Materials 1.97%
4 Communication Services 1.66%
5 Technology 1.6%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LIONW
301
DELISTED
Lionheart III Corp Warrant
LIONW
$100K 0.01%
+222,628
New +$105K
AUS.WS
302
DELISTED
Austerlitz Acquisition Corporation I Warrants, each whole Warrant exercisable for one Class A Ordinary Share at an exercise price of $11.50 per share
AUS.WS
$100K 0.01%
+95,619
New +$141K
BNIXR
303
DELISTED
Bannix Acquisition Corp. Right
BNIXR
$99K 0.01%
+300,000
New +$103K
ARIZR
304
DELISTED
Arisz Acquisition Corp. Right
ARIZR
$97K 0.01%
+541,408
New +$84.9K
NOVVW
305
DELISTED
Nova Vision Acquisition Corp. Warrant
NOVVW
$97K 0.01%
+270,000
New +$70.6K
SCMAW
306
DELISTED
Seaport Calibre Materials Acquisition Corp. Warrant
SCMAW
$96K 0.01%
+193,450
New +$88K
ACBAW
307
DELISTED
Ace Global Business Acquisition Ltd Warrant
ACBAW
$94K 0.01%
389,659
-52,127
-12% -$23.9K
OPA.WS
308
DELISTED
Magnum Opus Acquisition Limited Redeemable Warrants, each warrant exercisable for one Class A ordinary share at an exercise price of $11.50
OPA.WS
$91K 0.01%
88,086
-5,686
-6% -$6.95K
PAQCW
309
DELISTED
Provident Acquisition Corp. Warrant
PAQCW
$91K 0.01%
+171,934
New +$115K
EUDAW icon
310
EUDA Health Holdings Warrant
EUDAW
$269K
$90K 0.01%
+237,415
New +$89.8K
ONYXW
311
DELISTED
Onyx Acquisition Co. I Warrant
ONYXW
$87K 0.01%
+150,000
New +$73.1K
NOVVR
312
DELISTED
Nova Vision Acquisition Corp. Rights
NOVVR
$86K 0.01%
270,000
– –
ENTFW
313
DELISTED
Enterprise 4.0 Technology Acquisition Corp. Warrant
ENTFW
$82K 0.01%
+150,000
New +$81.2K
FTPAW
314
DELISTED
FTAC Parnassus Acquisition Corp. Warrant
FTPAW
$82K 0.01%
81,115
+9,999
+14% +$11.8K
MPACR
315
DELISTED
Model Performance Acquisition Corp. Right
MPACR
$82K 0.01%
254,800
-45,200
-15% -$18.8K
GLLIW
316
DELISTED
Globalink Investment Inc. Warrants
GLLIW
$80K 0.01%
+400,000
New +$91.3K
CLAS.WS
317
DELISTED
Class Acceleration Corp. Redeemable Warrants, each whole warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50
CLAS.WS
$77K 0.01%
150,633
– –
XFINW
318
DELISTED
ExcelFin Acquisition Corp Warrant
XFINW
$76K 0.01%
+150,000
New +$88K
LAXXR
319
DELISTED
8i Acquisition 2 Corp Rights
LAXXR
$75K 0.01%
+268,113
New +$75K
IMAQR
320
DELISTED
International Media Acquisition Corp. Rights
IMAQR
$73K ﹤0.01%
400,000
– –
NSTB.WS
321
DELISTED
Northern Star Investment Corp. II Redeemable warrants, each whole warrant exercisable for shares of Class A common stock at an exercise price of $11.50 per share
NSTB.WS
$73K ﹤0.01%
+114,537
New +$132K
ESLAW icon
322
Estrella Immunopharma Warrant
ESLAW
$133K
$72K ﹤0.01%
143,947
– –
ESM.WS
323
DELISTED
ESM Acquisition Corporation Redeemable warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50
ESM.WS
$71K ﹤0.01%
100,500
+500
+0.5% +$361
ARIZW
324
DELISTED
Arisz Acquisition Corp. Warrant
ARIZW
$69K ﹤0.01%
+250,000
New +$69.9K
SANBW
325
DELISTED
Sanaby Health Acquisition Corp. I Warrant
SANBW
$64K ﹤0.01%
+125,000
New +$63.9K
11 12
13
14 15

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K2 Principal Fund's Q4 2021 Portfolio in Review

As of Q4 2021, K2 Principal Fund held 511 positions worth $1.51B, up 23% from $1.23B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

K2 Principal Fund deployed $223M of net new capital in Q4 2021, opening 204 new positions and adding to 73 existing holdings. Its largest new stake was San Juan Basin Royalty Trust: 2,014,719 shares worth $12.3M.

By sector, the portfolio is most concentrated in Financials at 16% of assets, down from 18% a quarter earlier, followed by Consumer Staples and Materials.

On the sell side, the largest reduction was Mercer International, an estimated $7.82M trimmed.

  • K2 Principal Fund's largest Q4 2021 buy was San Juan Basin Royalty Trust: 2,014,719 shares worth $12.3M.
  • K2 Principal Fund added most to SkinHealth Systems in Q4 2021, an estimated $43.2M increase.
  • K2 Principal Fund's biggest Q4 2021 reduction was Mercer International, cutting an estimated $7.82M.
  • K2 Principal Fund fully exited PennyMac Mortgage Investment in Q4 2021, selling an estimated $23.6M.
  • K2 Principal Fund's ten largest holdings make up 40% of its $1.51B portfolio in Q4 2021.
  • K2 Principal Fund opened 204 new positions and closed 140 in Q4 2021.
  • K2 Principal Fund's portfolio value rose 23% quarter-over-quarter to $1.51B.

Based on K2 Principal Fund's 13F filing for Q4 2021, filed 11 Feb 2022.