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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
MSON
476
DELISTED
Misonix Inc
MSON
– –
-74,552
Closed -$1.89M
MCADR
477
DELISTED
Mountain Crest Acquisition Corp. II Right
MCADR
– –
-194,170
Closed -$146K
TMTS
478
DELISTED
Spartacus Acquisition Corporation Class A Common Stock
TMTS
– –
-93,472
Closed -$946K
RPAI
479
DELISTED
RETAIL PROPERTIES OF AMERICA, INC.
RPAI
– –
-12,425
Closed -$160K
HZAC
480
DELISTED
Horizon Acquisition Corporation
HZAC
– –
-378,735
Closed -$3.78M
HZAC.WS
481
DELISTED
Horizon Acquisition Corporation Warrants, each whole warrant exercisable for one Class A ordinary sh
HZAC.WS
– –
-155,329
Closed -$264K
GPX
482
DELISTED
GP Strategies Corp.
GPX
– –
-72,050
Closed -$1.49M
CLDR
483
DELISTED
Cloudera, Inc.
CLDR
– –
-326,789
Closed -$5.22M
XEC
484
DELISTED
CIMAREX ENERGY CO
XEC
– –
-47,179
Closed -$4.11M
MAAC
485
DELISTED
Montes Archimedes Acquisition Corp. Class A Common Stock
MAAC
– –
-40,000
Closed -$374K
CTAC
486
DELISTED
Cerberus Telecom Acquisition Corp.
CTAC
– –
-75,969
Closed -$593K
VER
487
DELISTED
VEREIT, Inc.
VER
– –
-81,140
Closed -$3.67M
PFTAU
488
DELISTED
Perception Capital Corp. III Unit
PFTAU
– –
-1,600,000
Closed -$15.9M
CADE
489
DELISTED
Cadence Bancorporation
CADE
– –
-90,659
Closed -$1.99M
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.