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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
COOP
126
DELISTED
Mr. Cooper
COOP
$1.7M 0.11%
+40,777
New +$1.72M
GSHD icon
127
PUT
Goosehead Insurance
GSHD
$1.64B
$1.69M 0.11%
+13,000
New +$1.87M
VAC icon
128
CALL
Marriott Vacations Worldwide
VAC
$3.48B
$1.69M 0.11%
10,000
-5,000
-33% -$803K
CGAU
129
Centerra Gold
CGAU
$3.3B
$1.69M 0.11%
+220,000
New +$1.67M
FMBI
130
DELISTED
First Midwest Bancorp Inc/IL
FMBI
$1.6M 0.11%
78,163
+2,127
+3% +$42.6K
WEL.U
131
DELISTED
Integrated Wellness Acquisition Corp Units, each consisting of one Class A ordinary share and one-half of one redeemable warrant
WEL.U
$1.51M 0.1%
+150,000
New +$1.51M
LGVCU
132
DELISTED
LAMF Global Ventures Corp. I Unit
LGVCU
$1.51M 0.1%
+150,000
New +$1.51M
BGC icon
133
BGC Group
BGC
$5.73B
$1.5M 0.1%
323,552
+243,306
+303% +$1.21M
HTZ icon
134
Hertz
HTZ
$512M
$1.49M 0.1%
+59,459
New +$1.42M
RRAC
135
DELISTED
Rigel Resource Acquisition Corp.
RRAC
$1.47M 0.1%
+150,000
New +$1.47M
CCL icon
136
CALL
Carnival Corporation Ltd
CCL
$38.1B
$1.46M 0.1%
+72,500
New +$1.55M
CFIV
137
DELISTED
CF Acquisition Corp. IV Class A common stock
CFIV
$1.41M 0.09%
143,636
– –
ATVI
138
DELISTED
Activision Blizzard
ATVI
$1.4M 0.09%
+21,067
New +$1.44M
KOR
139
DELISTED
Corvus Gold Inc. Common Shares
KOR
$1.35M 0.09%
418,854
+51,594
+14% +$166K
ATC
140
DELISTED
Atotech Limited
ATC
$1.34M 0.09%
+52,623
New +$1.29M
PVG
141
DELISTED
PRETIUM RESOURCES INC.
PVG
$1.32M 0.09%
+93,756
New +$1.19M
IAU icon
142
CALL
iShares Gold Trust
IAU
$62.2B
$1.3M 0.09%
37,500
+12,500
+50% +$427K
GCMGW
143
DELISTED
GCM Grosvenor Inc Warrant
GCMGW
$1.29M 0.09%
860,548
-1,300,451
-60% -$2.33M
IPOF
144
DELISTED
Social Capital Hedosophia Holdings Corp. VI
IPOF
$1.29M 0.09%
+126,377
New +$1.3M
APCA.U
145
DELISTED
AP Acquisition Corp Units, each consisting of one Class A ordinary share and one-half of one redeemable warrant
APCA.U
$1.27M 0.08%
+125,000
New +$1.26M
DS
146
DELISTED
Drive Shack Inc.
DS
$1.26M 0.08%
879,998
-388,464
-31% -$855K
HZON.WS
147
DELISTED
Horizon Acquisition Corporation II Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50
HZON.WS
$1.22M 0.08%
1,312,990
+379,637
+41% +$407K
BBU
148
DELISTED
Brookfield Business Partners
BBU
$1.21M 0.08%
+41,094
New +$1.25M
LSPD icon
149
PUT
Lightspeed Commerce
LSPD
$1.42B
$1.21M 0.08%
+30,000
New +$2.05M
PICC
150
DELISTED
Pivotal Investment Corporation III
PICC
$1.18M 0.08%
120,660
– –
4 5
6
7 8

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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.