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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
MLAIW
326
DELISTED
McLaren Technology Acquisition Corp. Warrant
MLAIW
$62K ﹤0.01%
+125,000
New +$58.9K
DSAQ.WS
327
DELISTED
Direct Selling Acquisition Corp. Warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per share
DSAQ.WS
$62K ﹤0.01%
+125,000
New +$63.9K
OCEAW
328
DELISTED
Ocean Biomediacal, Inc. Warrants
OCEAW
$59K ﹤0.01%
+125,000
New +$62.6K
AFAQW
329
DELISTED
AF Acquisition Corp Warrants
AFAQW
$59K ﹤0.01%
100,000
– –
THACW
330
DELISTED
Thrive Acquisition Corporation Warrant
THACW
$56K ﹤0.01%
+112,500
New +$51.2K
EPHYW
331
DELISTED
Epiphany Technology Acquisition Corp. Warrant
EPHYW
$54K ﹤0.01%
72,559
– –
TEKKW
332
DELISTED
Tekkorp Digital Acquisition Corp. Warrant
TEKKW
$52K ﹤0.01%
80,500
-64,500
-44% -$55K
APGNW
333
DELISTED
Apexigen, Inc. WarrantApexigen, Inc. Warrant
APGNW
$51K ﹤0.01%
127,682
– –
ROSEW
334
DELISTED
Rose Hill Acquisition Corporation Warrant
ROSEW
$49K ﹤0.01%
+100,000
New +$47.6K
IQMDW
335
DELISTED
Intelligent Medicine Acquisition Corp. Warrant
IQMDW
$49K ﹤0.01%
+100,000
New +$50.2K
ACKIW
336
DELISTED
Ackrell SPAC Partners I Co Warrants
ACKIW
$44K ﹤0.01%
85,353
– –
RRAC.WS
337
DELISTED
Rigel Resource Acquisition Corp Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 per share
RRAC.WS
$41K ﹤0.01%
+75,000
New +$46.9K
COCHW icon
338
Envoy Medical Warrant
COCHW
$375K
$39K ﹤0.01%
+50,000
New +$36.6K
IIIIW
339
DELISTED
INSU Acquisition Corp. III Warrant
IIIIW
$33K ﹤0.01%
+54,485
New +$40.1K
CEROW
340
DELISTED
CERo Therapeutics Warrants
CEROW
$32K ﹤0.01%
+75,000
New +$34.6K
FNVTW
341
DELISTED
Finnovate Acquisition Corp. Warrants
FNVTW
$29K ﹤0.01%
+75,066
New +$31.4K
VSACW
342
DELISTED
Vision Sensing Acquisition Corp. Warrants
VSACW
$29K ﹤0.01%
+75,075
New +$30.6K
MBSC.WS
343
DELISTED
M3-Brigade Acquisition III Corp. Public warrants, each whole public warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50 per share
MBSC.WS
$27K ﹤0.01%
+50,000
New +$30.6K
GRCYW
344
DELISTED
Greencity Acquisition Corporation Warrants
GRCYW
$26K ﹤0.01%
123,945
– –
PGRWW
345
DELISTED
Progress Acquisition Corp. Warrant
PGRWW
$25K ﹤0.01%
50,187
– –
OTECW
346
DELISTED
OceanTech Acquisitions I Corp. Warrant
OTECW
$23K ﹤0.01%
+50,000
New +$24.1K
GHACW
347
DELISTED
Gaming & Hospitality Acquisition Corp. Warrants
GHACW
$22K ﹤0.01%
43,906
– –
ALACW
348
DELISTED
Alberton Acquisition Corp Warrant
ALACW
$22K ﹤0.01%
119,566
-397,206
-77% -$132K
BREZR
349
DELISTED
Breeze Holdings Acquisition Corp. Right
BREZR
$13K ﹤0.01%
61,336
+20,100
+49% +$4.61K
FZT.WS
350
DELISTED
FAST Acquisition Corp. II Redeemable warrants, each whole warrant exercisable for one share of Class A common stock, each at an exercise price of $11.50 per share
FZT.WS
$13K ﹤0.01%
+14,917
New +$14.9K
12 13
14
15 16

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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.