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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
INMD icon
376
CALL
InMode
INMD
$871M
– –
-150,200
Closed -$12M
INMD icon
377
InMode
INMD
$871M
– –
-63,616
Closed -$5.07M
LYV icon
378
PUT
Live Nation Entertainment
LYV
$42.9B
– –
-5,000
Closed -$456K
MDB icon
379
CALL
MongoDB
MDB
$25.8B
– –
-5,000
Closed -$2.36M
MDB icon
380
PUT
MongoDB
MDB
$25.8B
– –
-7,500
Closed -$3.54M
MERC icon
381
CALL
Mercer International
MERC
$40.5M
– –
-260,000
Closed -$3.01M
MKSI icon
382
MKS Inc
MKSI
$17.4B
– –
-4,618
Closed -$697K
MRK icon
383
CALL
Merck
MRK
$322B
– –
-110,000
Closed -$8.26M
MU icon
384
PUT
Micron Technology
MU
$835B
– –
-30,000
Closed -$2.13M
NMRK icon
385
CALL
Newmark Group
NMRK
$2.64B
– –
-62,600
Closed -$896K
OGN icon
386
Organon & Co
OGN
$3.56B
– –
-23,353
Closed -$766K
PFSI icon
387
CALL
PennyMac Financial
PFSI
$4.47B
– –
-374,800
Closed -$22.9M
PMT
388
PennyMac Mortgage Investment
PMT
$845M
– –
-1,200,315
Closed -$23.6M
REAX icon
389
Real Brokerage
REAX
$360M
– –
-382,450
Closed -$895K
RKT icon
390
PUT
Rocket Companies
RKT
$38.8B
– –
-244,200
Closed -$3.92M
RNG icon
391
PUT
RingCentral
RNG
$4.83B
– –
-24,900
Closed -$5.42M
RUMBW
392
RUM Group Inc Warrant
RUMBW
$12.1M
– –
-60,310
Closed -$48K
SLX icon
393
PUT
VanEck Steel ETF
SLX
$166M
– –
-200,000
Closed -$11M
SNAP icon
394
CALL
Snap
SNAP
$7.96B
– –
-195,000
Closed -$14.4M
SNAP icon
395
Snap
SNAP
$7.96B
– –
-20,000
Closed -$1.48M
SOND
396
DELISTED
Sonder
SOND
– –
-51,134
Closed -$10.1M
SPWH icon
397
Sportsman's Warehouse
SPWH
$44.9M
– –
-345,675
Closed -$5.43M
SSB icon
398
SouthState Bank Corp
SSB
$10.3B
– –
-9,816
Closed -$733K
TIXT
399
DELISTED
TELUS International
TIXT
– –
-14,699
Closed -$515K
TSEM icon
400
PUT
Tower Semiconductor
TSEM
$21.2B
– –
-50,000
Closed -$1.5M
14 15
16
17 18

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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.