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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
PTON icon
76
CALL
Peloton Interactive
PTON
$2.84B
$3.71M 0.25%
+103,700
New +$6.33M
ALSAU
77
DELISTED
Alpha Star Acquisition Corp Units
ALSAU
$3.69M 0.24%
+360,000
New +$3.67M
STL
78
DELISTED
Sterling Bancorp
STL
$3.69M 0.24%
142,940
+114,407
+401% +$2.96M
BASE
79
DELISTED
Couchbase
BASE
$3.66M 0.24%
146,800
-8,200
-5% -$271K
ROCLU
80
DELISTED
Roth CH Acquisition V Co. Unit
ROCLU
$3.54M 0.23%
+350,000
New +$3.51M
DPCSU
81
DELISTED
DP Cap Acquisition Corp I Unit
DPCSU
$3.54M 0.23%
+349,800
New +$3.53M
FRTA
82
DELISTED
Forterra, Inc
FRTA
$3.5M 0.23%
+147,170
New +$3.5M
UA icon
83
Under Armour Class C
UA
$2.97B
$3.43M 0.23%
190,015
+56,910
+43% +$1.11M
BMAQ
84
DELISTED
Blockchain Moon Acquisition Corp. Common Stock
BMAQ
$3.41M 0.23%
+349,994
New +$3.42M
IPOD
85
DELISTED
Social Capital Hedosophia Holdings Corp. IV
IPOD
$3.33M 0.22%
+325,934
New +$3.34M
LUV icon
86
CALL
Southwest Airlines
LUV
$22.7B
$3.21M 0.21%
+75,000
New +$3.52M
LSPRU
87
DELISTED
Larkspur Health Acquisition Corp. Unit
LSPRU
$3.19M 0.21%
+318,255
New +$3.18M
FCX icon
88
PUT
Freeport-McMoran
FCX
$88.6B
$3.13M 0.21%
75,100
+30,100
+67% +$1.14M
AOGOU
89
DELISTED
Arogo Capital Acquisition Corp. Unit
AOGOU
$3.04M 0.2%
+303,000
New +$3.03M
ROCAU
90
DELISTED
ROC Energy Acquisition Corp. Unit
ROCAU
$3.03M 0.2%
+300,000
New +$3.02M
MNR
91
DELISTED
Monmouth Real Estate Investment Corp
MNR
$2.92M 0.19%
139,108
-220,684
-61% -$4.45M
ISBC
92
DELISTED
Investors Bancorp, Inc.
ISBC
$2.8M 0.19%
184,779
+68,979
+60% +$1.06M
PANW icon
93
CALL
Palo Alto Networks
PANW
$260B
$2.78M 0.18%
30,000
– –
GPN icon
94
CALL
Global Payments
GPN
$23.9B
$2.76M 0.18%
+20,400
New +$2.81M
THCA
95
DELISTED
Tuscan Holdings Corp. II Common Stock
THCA
$2.68M 0.18%
262,362
– –
FXCOU
96
DELISTED
Financial Strategies Acquisition Corp. Unit
FXCOU
$2.59M 0.17%
+249,930
New +$2.56M
ADRT.U
97
DELISTED
Ault Disruptive Technologies Corporation Units, each consisting of one share of Common Stock, and three-fourths of one Redeemable Warrant to purchase one share of Common Stock
ADRT.U
$2.52M 0.17%
+248,651
New +$2.49M
TWTR
98
CALL
DELISTED
Twitter, Inc.
TWTR
$2.48M 0.16%
+57,500
New +$2.99M
FOE
99
DELISTED
Ferro Corporation
FOE
$2.47M 0.16%
113,173
+8,811
+8% +$187K
SJR
100
DELISTED
Shaw Communications Inc.
SJR
$2.47M 0.16%
81,300
+10,000
+14% +$292K
2 3
4
5 6

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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.