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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
HTZWW
26
Hertz Global Holdings Warrants
HTZWW
$79.8M
$9.99M 0.66%
+626,228
New +$9.85M
SAGAU
27
DELISTED
Sagaliam Acquisition Corp. Units
SAGAU
$9.93M 0.66%
+990,000
New +$9.9M
INFO
28
DELISTED
IHS Markit Ltd. Common Shares
INFO
$9.41M 0.62%
70,779
– –
BITO icon
29
CALL
ProShares Bitcoin Strategy ETF
BITO
$1.42B
$9.25M 0.61%
+320,000
New +$11.5M
XLF icon
30
CALL
State Street Financial Select Sector SPDR ETF
XLF
$56.7B
$8.79M 0.58%
+225,000
New +$8.84M
ADM icon
31
PUT
Archer Daniels Midland
ADM
$40.1B
$8.58M 0.57%
126,900
+76,900
+154% +$4.97M
XLNX
32
DELISTED
Xilinx Inc
XLNX
$7.87M 0.52%
37,100
-2,900
-7% -$572K
CTRA
33
CALL
DELISTED
Coterra Energy
CTRA
$7.6M 0.5%
+400,000
New +$8.34M
DKNG icon
34
PUT
DraftKings
DKNG
$12B
$7.56M 0.5%
+275,100
New +$10.8M
WFG icon
35
CALL
West Fraser Timber
WFG
$5.18B
$7.25M 0.48%
76,000
-64,600
-46% -$5.59M
NUAN
36
DELISTED
Nuance Communications, Inc.
NUAN
$7.11M 0.47%
128,524
+29,091
+29% +$1.6M
TSLA icon
37
Tesla
TSLA
$1.22T
$6.76M 0.45%
+19,200
New +$6.44M
RIVN icon
38
PUT
Rivian
RIVN
$23.9B
$6.64M 0.44%
+64,000
New +$7.37M
LQD icon
39
PUT
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.4B
$6.63M 0.44%
+50,000
New +$6.65M
KL
40
DELISTED
Kirkland Lake Gold Ltd Ordinary
KL
$6.54M 0.43%
+155,792
New +$6.57M
TXNM
41
TXNM Energy Inc
TXNM
$6.44B
$6.27M 0.42%
137,551
+61,600
+81% +$2.96M
RBAC
42
DELISTED
RedBall Acquisition Corp.
RBAC
$6.05M 0.4%
609,980
-35,000
-5% -$350K
GFGDU
43
DELISTED
The Growth for Good Acquisition Corporation Unit
GFGDU
$5.99M 0.4%
+600,000
New +$5.99M
PFTA
44
DELISTED
Perception Capital Corp. III Class A Ordinary Share
PFTA
$5.82M 0.39%
+598,671
New +$5.83M
GFL icon
45
PUT
GFL Environmental
GFL
$14.1B
$5.72M 0.38%
+151,100
New +$5.88M
GFL icon
46
CALL
GFL Environmental
GFL
$14.1B
$5.56M 0.37%
147,000
+129,700
+750% +$5.05M
BRKHU
47
DELISTED
BurTech Acquisition Corp. Unit
BRKHU
$5.33M 0.35%
+531,979
New +$5.32M
DHACU
48
DELISTED
Digital Health Acquisition Corp. Unit
DHACU
$5.12M 0.34%
+500,000
New +$5.1M
PBCT
49
DELISTED
People's United Financial Inc
PBCT
$5.1M 0.34%
286,403
+158,113
+123% +$2.82M
RNERU
50
DELISTED
Mount Rainier Acquisition Corp. Unit
RNERU
$5.08M 0.34%
+499,990
New +$5.06M
1
2
3 4 5

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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.