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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
BRG
451
DELISTED
Bluerock Residential Growth REIT, Inc.
BRG
– –
-65,100
Closed -$829K
GPCOR
452
DELISTED
Golden Path Acquisition Corporation Rights
GPCOR
– –
-19,500
Closed -$8K
RDBXW
453
DELISTED
Redbox Entertainment Inc. Warrant
RDBXW
– –
-448,047
Closed -$421K
CHWAU
454
DELISTED
CHW Acquisition Corporation Unit
CHWAU
– –
-990,000
Closed -$10.1M
MACU
455
DELISTED
Mallard Acquisition Corp. Common stock
MACU
– –
-281,220
Closed -$2.8M
CHPM
456
DELISTED
CHP Merger Corp. Class A Common Stock
CHPM
– –
-442,226
Closed -$4.43M
PPGHW
457
DELISTED
Poema Global Holdings Corp. Warrant
PPGHW
– –
-117,658
Closed -$105K
VNE
458
DELISTED
Veoneer, Inc.
VNE
– –
-33,355
Closed -$1.14M
GWB
459
DELISTED
Great Western Bancorp, Inc.
GWB
– –
-25,611
Closed -$839K
CFV
460
DELISTED
CF Acquisition Corp. V Class A Common Stock
CFV
– –
-229,398
Closed -$2.27M
CFFVW
461
DELISTED
CF Acquisition Corp. V Warrant
CFFVW
– –
-74,785
Closed -$73K
HCAQ
462
DELISTED
HealthCor Catalio Acquisition Corp. Class A Ordinary Shares
HCAQ
– –
-149,935
Closed -$1.48M
KSU
463
DELISTED
Kansas City Southern
KSU
– –
-33,510
Closed -$9.07M
HRC
464
DELISTED
HILL-ROM HOLDINGS, INC.
HRC
– –
-21,491
Closed -$3.22M
SVOKW
465
DELISTED
Seven Oaks Acquisition Corp. Warrant
SVOKW
– –
-444,103
Closed -$355K
PPD
466
DELISTED
PPD, Inc. Common Stock
PPD
– –
-137,969
Closed -$6.46M
CXP
467
DELISTED
COLUMBIA PROPERTY TRUST, INC.
CXP
– –
-277,497
Closed -$5.28M
ZGYHR
468
DELISTED
Yunhong International Right
ZGYHR
– –
-551,721
Closed -$105K
ZGYHW
469
DELISTED
Yunhong International Warrant
ZGYHW
– –
-476,255
Closed -$76K
TRIL
470
DELISTED
Trillium Therapeutics Inc.
TRIL
– –
-45,000
Closed -$790K
EBSB
471
DELISTED
Meridian Bancorp, Inc.
EBSB
– –
-63,035
Closed -$1.31M
SKINW
472
DELISTED
The Beauty Health Company Warrant expiring 5/4/2026
SKINW
– –
-784,234
Closed -$11.4M
BNIXU
473
DELISTED
Bannix Acquisition Corp. Unit
BNIXU
– –
-300,000
Closed -$3.08M
VEI
474
DELISTED
Vine Energy Inc.
VEI
– –
-29,717
Closed -$489K
XOG
475
DELISTED
Extraction Oil & Gas, Inc. Common Stock
XOG
– –
-94,646
Closed -$5.34M
16 17 18
19
20

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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.