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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
GVCIU
51
DELISTED
Green Visor Financial Technology Acquisition Corp. I Units
GVCIU
$5.04M 0.33%
+500,000
New +$5.05M
MX icon
52
Magnachip Semiconductor
MX
$118M
$5.03M 0.33%
240,000
+5,000
+2% +$92.4K
MGLN
53
DELISTED
Magellan Health Services, Inc.
MGLN
$5.03M 0.33%
52,901
-22,099
-29% -$2.09M
UNG icon
54
CALL
United States Natural Gas Fund
UNG
$444M
$5M 0.33%
+100,000
New +$6.5M
BHC icon
55
CALL
Bausch Health
BHC
$1.69B
$4.72M 0.31%
171,000
-273,800
-62% -$7.33M
TWLO icon
56
CALL
Twilio
TWLO
$29.5B
$4.61M 0.31%
+17,500
New +$5.23M
SCPL
57
DELISTED
SciPlay Corporation Class A Common Stock
SCPL
$4.55M 0.3%
330,463
+45,363
+16% +$813K
GDNRU
58
DELISTED
Gardiner Healthcare Acquisitions Corp. Unit
GDNRU
$4.54M 0.3%
+450,000
New +$4.52M
FBC
59
DELISTED
Flagstar Bancorp, Inc. New
FBC
$4.53M 0.3%
94,533
+85,019
+894% +$4.22M
WTMAU
60
DELISTED
Welsbach Technology Metals Acquisition Corp. Unit
WTMAU
$4.37M 0.29%
+436,100
New +$4.37M
CPLG
61
DELISTED
CorePoint Lodging Inc. Common Stock
CPLG
$4.35M 0.29%
277,028
+201,423
+266% +$3.18M
ZG icon
62
Zillow
ZG
$7.74B
$4.34M 0.29%
+69,759
New +$5.01M
LPX icon
63
CALL
Louisiana-Pacific
LPX
$5.35B
$4.31M 0.29%
+55,000
New +$3.77M
OBIO icon
64
Orchestra BioMed
OBIO
$231M
$4.29M 0.28%
425,541
+5,192
+1% +$51.2K
CIXX
65
PUT
DELISTED
CI Financial Corp.
CIXX
$4.18M 0.28%
+200,000
New +$4.43M
SC
66
DELISTED
SANTANDER CONSUMER USA HOLDINGS INC
SC
$4.16M 0.28%
98,945
-3,668
-4% -$154K
FEXDU
67
DELISTED
Fintech Ecosystem Development Corp. Units
FEXDU
$4.08M 0.27%
+400,000
New +$4.08M
CFFSU
68
DELISTED
CF Acquisition Corp. VII Unit
CFFSU
$4.06M 0.27%
+400,000
New +$4.02M
JWACU
69
DELISTED
Jupiter Wellness Acquisition Corp. Unit
JWACU
$4.03M 0.27%
+400,000
New +$4.01M
NVACU
70
DELISTED
NorthView Acquisition Corporation Unit
NVACU
$4.02M 0.27%
+400,000
New +$4.01M
PKBO
71
DELISTED
Peak Bio, Inc. Common Stock
PKBO
$4.02M 0.27%
412,651
– –
IJR icon
72
CALL
iShares Core S&P Small-Cap ETF
IJR
$110B
$4.01M 0.27%
+35,000
New +$3.99M
NMRK icon
73
Newmark Group
NMRK
$2.88B
$3.94M 0.26%
+210,899
New +$3.36M
SCMA
74
DELISTED
Seaport Calibre Materials Acquisition Corp. Class A Common Stock
SCMA
$3.8M 0.25%
+386,900
New +$3.76M
BCSAU
75
DELISTED
Blockchain Coinvestors Acquisition Corp. I Unit
BCSAU
$3.77M 0.25%
+372,593
New +$3.78M
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.