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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
THCPW
351
DELISTED
Thunder Bridge Capital Partners IV, Inc. Warrant
THCPW
$10K ﹤0.01%
+11,298
New +$10.7K
APO icon
352
Apollo Global Management
APO
$69.3B
– –
-3,855
Closed -$237K
ATAI icon
353
AtaiBeckley Inc
ATAI
$2.66B
– –
-106,672
Closed -$1.26M
BG icon
354
PUT
Bunge Global
BG
$20.4B
– –
-10,000
Closed -$813K
BKNG icon
355
CALL
Booking.com
BKNG
$150B
– –
-25,000
Closed -$2.37M
BKNG icon
356
PUT
Booking.com
BKNG
$150B
– –
-12,500
Closed -$1.19M
BNZI icon
357
Banzai International
BNZI
$6.03M
– –
-43
Closed -$4.22M
BZFD icon
358
BuzzFeed
BZFD
$99.9M
– –
-73,498
Closed -$2.91M
CLBT icon
359
CALL
Cellebrite
CLBT
$3.63B
– –
-130,400
Closed -$1.21M
CLBT icon
360
Cellebrite
CLBT
$3.63B
– –
-47,901
Closed -$444K
GPGI
361
GPGI Inc
GPGI
$3.9B
– –
-173,809
Closed -$1.46M
COOP
362
CALL
DELISTED
Mr. Cooper
COOP
– –
-82,300
Closed -$3.39M
CSV icon
363
Carriage Services
CSV
$637M
– –
-25,624
Closed -$1.14M
CVE icon
364
CALL
Cenovus Energy
CVE
$56.5B
– –
-800,000
Closed -$8.05M
CWB icon
365
PUT
State Street SPDR Bloomberg Convertible Securities ETF
CWB
$5.58B
– –
-10,000
Closed -$853K
DFLI icon
366
Dragonfly Energy
DFLI
$16.5M
– –
-3,611
Closed -$3.23M
EDV icon
367
PUT
Vanguard World Funds Extended Duration ETF
EDV
$3.26B
– –
-200,000
Closed -$27.1M
ESLA icon
368
Estrella Immunopharma
ESLA
$31M
– –
-287,894
Closed -$2.85M
FIVN icon
369
CALL
FIVE9
FIVN
$2.12B
– –
-10,000
Closed -$1.6M
GEN icon
370
PUT
Gen Digital
GEN
$16.3B
– –
-20,000
Closed -$506K
GOGO icon
371
CALL
Gogo Inc
GOGO
$559M
– –
-25,000
Closed -$432K
GOGO icon
372
Gogo Inc
GOGO
$559M
– –
-104,116
Closed -$1.8M
GRP.U
373
CALL
DELISTED
Granite Real Estate Investment Trust
GRP.U
– –
-4,500
Closed -$405K
HHH icon
374
Howard Hughes
HHH
$3.87B
– –
-219,045
Closed -$19.2M
IAU icon
375
iShares Gold Trust
IAU
$63.8B
– –
-37,500
Closed -$1.28M
13 14
15
16 17

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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.