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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
HTAQ.U
176
DELISTED
Hunt Companies Acquisition Corp. I Units, each consisting of one Class A ordinary share and one-half one redeemable warrant
HTAQ.U
$730K 0.05%
+71,935
New +$728K
TECK icon
177
PUT
Teck Resources
TECK
$28.8B
$720K 0.05%
+25,000
New +$686K
PUCKW
178
DELISTED
Goal Acquisitions Corp. Warrant
PUCKW
$715K 0.05%
1,307,983
+488,176
+60% +$318K
COLB icon
179
Columbia Banking Systems
COLB
$8.84B
$698K 0.05%
+21,345
New +$739K
ENVX icon
180
Enovix
ENVX
$866M
$682K 0.05%
+28,571
New +$692K
ENVX icon
181
PUT
Enovix
ENVX
$866M
$682K 0.05%
+28,571
New +$692K
PETWW
182
DELISTED
Wag! Group Co Warrant
PETWW
$682K 0.05%
+1,370,038
New +$666K
SPCE icon
183
PUT
Virgin Galactic
SPCE
$320M
$669K 0.04%
+2,500
New +$903K
EXEEL
184
DELISTED
Expand Energy Corp Class C Warrants
EXEEL
$655K 0.04%
19,996
+4,363
+28% +$135K
NVRO
185
PUT
DELISTED
NEVRO CORP.
NVRO
$649K 0.04%
+8,000
New +$802K
AGAC.WS
186
DELISTED
African Gold Acquisition Corp Warrants
AGAC.WS
$634K 0.04%
1,289,890
+215,063
+20% +$116K
PRPC.WS
187
DELISTED
CC Neuberger Principal Holdings III Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50
PRPC.WS
$607K 0.04%
557,310
+138,364
+33% +$157K
MCAFR
188
DELISTED
Mountain Crest Acquisition Corp. IV Rights
MCAFR
$601K 0.04%
1,502,329
+1,157,563
+336% +$555K
BMAQR
189
DELISTED
Blockchain Moon Acquisition Corp. Rights
BMAQR
$600K 0.04%
+1,713,215
New +$600K
LYV icon
190
CALL
Live Nation Entertainment
LYV
$42.1B
$598K 0.04%
5,000
-5,000
-50% -$539K
GSEVW
191
DELISTED
Gores Holdings VII, Inc. Warrant
GSEVW
$582K 0.04%
425,055
+347,988
+452% +$458K
NUE icon
192
PUT
Nucor
NUE
$60.5B
$571K 0.04%
5,000
-5,000
-50% -$547K
WBD icon
193
CALL
Warner Bros
WBD
$64.2B
$565K 0.04%
24,000
+4,000
+20% +$99.6K
TYGOW
194
DELISTED
Tigo Energy, Inc. Warrant
TYGOW
$563K 0.04%
703,579
+497,329
+241% +$357K
ANY icon
195
Sphere 3D
ANY
$16.8M
$561K 0.04%
2,569
-8,285
-76% -$3.21M
DKNG icon
196
CALL
DraftKings
DKNG
$12.2B
$549K 0.04%
+20,000
New +$783K
CIT
197
DELISTED
CIT Group Inc.
CIT
$532K 0.04%
10,360
-23,921
-70% -$1.22M
TWLO icon
198
Twilio
TWLO
$29.5B
$527K 0.03%
+2,000
New +$598K
ARNA
199
DELISTED
Arena Pharmaceuticals Inc
ARNA
$502K 0.03%
+5,400
New +$356K
FIBK icon
200
First Interstate BancSystem
FIBK
$3.7B
$498K 0.03%
+12,251
New +$509K
6 7
8
9 10

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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.