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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
-8.03%
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
$1.16B
AUM Growth
-$351M
Cap. Flow
-$335M
Cap. Flow %
-28.92%
Top 10 Hldgs %
45.37%
Holding
494
New
126
Increased
47
Reduced
55
Closed
192

Top Buys

Rank Stock Value
1
PFSI icon
PennyMac Financial
PFSI
+$32M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$29.2M
3
NMRK icon
Newmark Group
NMRK
+$11.5M
4
COIN icon
Coinbase
COIN
+$9.28M
5
BMO icon
Bank of Montreal
BMO
+$8.82M

Top Sells

Rank Stock Value
1
SKIN icon
SkinHealth Systems
SKIN
+$24.3M
2
BG icon
Bunge Global
BG
+$15.9M
3
CIXX
CI Financial Corp.
CIXX
+$12.4M
4
TRIS
Tristar Acquisition I Corp.
TRIS
+$11.2M
5
SAGAU
Sagaliam Acquisition Corp. Units
SAGAU
+$9.93M

Sector Composition

Rank Sector Weight
1 Financials 16.69%
2 Real Estate 2.6%
3 Technology 2.09%
4 Communication Services 1.94%
5 Consumer Staples 1.7%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BREZ
176
DELISTED
Breeze Holdings Acquisition Corp. Common Stock
BREZ
$229K 0.02%
+22,240
New +$228K
GES
177
DELISTED
Guess Inc
GES
$218K 0.02%
+10,000
New +$217K
BENER
178
DELISTED
Benessere Capital Acquisition Corp. Right
BENER
$217K 0.02%
976,767
+151,925
+18% +$48.1K
RDFN
179
CALL
DELISTED
Redfin
RDFN
$216K 0.02%
+12,000
New +$309K
DFLIW icon
180
Dragonfly Energy Holdings Warrant
DFLIW
$32.5K
$214K 0.02%
714,251
– –
GIA.WS
181
DELISTED
GigCapital 5, Inc. Redeemable Warrants, each exercisable for one share of Common Stock at an exercise price of $11.50 per share
GIA.WS
$207K 0.02%
919,200
– –
SPOK icon
182
CALL
Spok Holdings
SPOK
$229M
$203K 0.02%
+25,500
New +$232K
MBTCR
183
DELISTED
Nocturne Acquisition Corporation Right
MBTCR
$200K 0.02%
949,931
-250,000
-21% -$76.3K
MCAGR
184
DELISTED
Mountain Crest Acquisition Corp. V Right
MCAGR
$196K 0.02%
993,400
-6,600
-0.7% -$2.04K
SHO icon
185
Sunstone Hotel Investors
SHO
$2.19B
$192K 0.02%
+16,300
New +$185K
PKBOW
186
DELISTED
Peak Bio, Inc. Warrant
PKBOW
$187K 0.02%
441,409
– –
TBCPW
187
DELISTED
Thunder Bridge Capital Partners III Inc. Warrant
TBCPW
$181K 0.02%
351,605
-75,000
-18% -$42.9K
ASPAW
188
DELISTED
Abri SPAC I Inc Warrant
ASPAW
$180K 0.02%
532,292
-199,100
-27% -$80.2K
MCAER
189
DELISTED
Mountain Crest Acquisition Corp. III Right
MCAER
$179K 0.02%
593,179
-264,300
-31% -$105K
HWKZ.WS
190
DELISTED
Hawks Acquisition Corp Public warrants, each whole public warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50 per share
HWKZ.WS
$176K 0.02%
740,000
– –
AAGRW
191
DELISTED
African Agriculture Holdings Inc Warrant
AAGRW
$168K 0.01%
184,569
– –
GTPAW
192
DELISTED
Gores Technology Partners, Inc. Warrant
GTPAW
$157K 0.01%
196,059
+18,980
+11% +$18K
TRIS.WS
193
DELISTED
Tristar Acquisition I Corp. Redeemable Warrants, each exercisable for one Class A Ordinary Share at an exercise price of $11.50 per share
TRIS.WS
$154K 0.01%
383,357
-476,600
-55% -$206K
ROCAR
194
DELISTED
ROC Energy Acquisition Corp. Rights
ROCAR
$154K 0.01%
+800,000
New +$179K
GSDWW
195
DELISTED
Global Systems Dynamics, Inc. Warrant
GSDWW
$153K 0.01%
462,575
-100,975
-18% -$40K
HCICW
196
DELISTED
Hennessy Capital Investment Corp. V Warrant
HCICW
$152K 0.01%
379,873
– –
VHAQ.RT
197
DELISTED
Viveon Health Acquisition Corp. Rights, each exchangeable into one-twentieth of a share of Common Stock
VHAQ.RT
$150K 0.01%
1,249,735
-113,921
-8% -$18.2K
BMAQW
198
DELISTED
Blockchain Moon Acquisition Corp. Warrants
BMAQW
$143K 0.01%
716,182
+53,300
+8% +$13.7K
BMAC.WS
199
DELISTED
Black Mountain Acquisition Corp. Warrants, exercisable for one share of Class A Common Stock
BMAC.WS
$142K 0.01%
525,000
– –
IMAQW
200
DELISTED
International Media Acquisition Corp. Warrants
IMAQW
$138K 0.01%
777,272
– –
6 7
8
9 10

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K2 Principal Fund's Q1 2022 Portfolio in Review

As of Q1 2022, K2 Principal Fund held 494 positions worth $1.16B, down 23% from $1.51B the previous quarter. Its ten largest holdings account for 45% of the portfolio.

K2 Principal Fund withdrew a net $335M in Q1 2022, closing 192 positions and reducing 55 holdings. Its most notable exit was Bunge Global, an estimated $15.9M position sold in full.

By sector, the portfolio is most concentrated in Financials at 17% of assets, up from 16% a quarter earlier, followed by Real Estate and Technology.

Against the trend, K2 Principal Fund opened a new position in State Street SPDR S&P 500 ETF Trust worth $29.6M.

  • K2 Principal Fund's largest Q1 2022 buy was State Street SPDR S&P 500 ETF Trust: 65,553 shares worth $29.6M.
  • K2 Principal Fund added most to PennyMac Financial in Q1 2022, an estimated $32M increase.
  • K2 Principal Fund's biggest Q1 2022 reduction was SkinHealth Systems, cutting an estimated $24.3M.
  • K2 Principal Fund fully exited Bunge Global in Q1 2022, selling an estimated $15.9M.
  • K2 Principal Fund's ten largest holdings make up 45% of its $1.16B portfolio in Q1 2022.
  • K2 Principal Fund opened 126 new positions and closed 192 in Q1 2022.
  • K2 Principal Fund's portfolio value fell 23% quarter-over-quarter to $1.16B.

Based on K2 Principal Fund's 13F filing for Q1 2022, filed 16 May 2022.