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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
-4.81%
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
$659M
AUM Growth
-$383M
Cap. Flow
-$356M
Cap. Flow %
-54%
Top 10 Hldgs %
15.19%
Holding
434
New
108
Increased
53
Reduced
69
Closed
152

Top Buys

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$10.4M
2
FSAC
Federal Street Acquisition Corp. Common Stock
FSAC
+$8.03M
3
CFFAU
CF Finance Acquisition Corp. Unit
CFFAU
+$8.01M
4
FTACU
FinTech Acquisition Corp. III Unit
FTACU
+$7.52M
5
VVC
Vectren Corporation
VVC
+$6.11M

Top Sells

Rank Stock Value
1
AET
Aetna Inc
AET
+$23M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$20.6M
3
COL
Rockwell Collins
COL
+$19.1M
4
NRCG
NRC Group Holdings Corp.
NRCG
+$18.6M
5
EACQ
Easterly Acquisition Corp
EACQ
+$16.3M

Sector Composition

Rank Sector Weight
1 Financials 7.89%
2 Technology 7.77%
3 Communication Services 6.55%
4 Consumer Discretionary 4.47%
5 Industrials 4.47%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TPGH.WS
226
DELISTED
TPG Pace Holdings Corp. Warrants, each exercisable for one Class A Ordinary Share at an exercise pri
TPGH.WS
$291K 0.04%
290,800
-9,200
-3% -$12.5K
ROSEW
227
DELISTED
Rosehill Resources Inc.
ROSEW
$280K 0.04%
864,548
– –
BROG
228
DELISTED
Brooge Energy
BROG
$277K 0.04%
28,200
– –
DNR
229
CALL
DELISTED
Denbury Resources, Inc.
DNR
$257K 0.04%
+150,000
New +$516K
GTYHW
230
DELISTED
GTY Technology Holdings, Inc. Warrants
GTYHW
$257K 0.04%
329,729
-44,400
-12% -$56K
BBCPW
231
DELISTED
Concrete Pumping Holdings, Inc. Warrant
BBCPW
$233K 0.04%
+298,950
New +$212K
SCACW
232
DELISTED
Saban Capital Acquisition Corp. Warrants
SCACW
$231K 0.04%
385,295
+4,700
+1% +$3.81K
IBTX
233
CALL
DELISTED
Independent Bank Group, Inc.
IBTX
$229K 0.03%
+5,000
New +$284K
CVON
234
DELISTED
ConvergeOne Holdings, Inc. Class A Common Stock
CVON
$228K 0.03%
+18,429
New +$203K
NRCG.WS
235
DELISTED
NRC Group Holdings Corp.
NRCG.WS
$215K 0.03%
+265,330
New +$245K
CMSSR
236
DELISTED
CM Seven Star Acquisition Corporation Right
CMSSR
$213K 0.03%
574,454
+102,500
+22% +$40.6K
FNF icon
237
Fidelity National Financial
FNF
$14B
$205K 0.03%
+6,792
New +$219K
WINR
238
DELISTED
Simplicity Esports and Gaming Company Common Stock
WINR
$203K 0.03%
33,821
-176,948
-84% -$1.18M
VEACW
239
DELISTED
Vantage Energy Acquisition Corp.
VEACW
$189K 0.03%
402,174
-431,159
-52% -$368K
TWNKW
240
DELISTED
Hostess Brands, Inc. Warrants
TWNKW
$180K 0.03%
194,000
-30,000
-13% -$30K
DNR
241
PUT
DELISTED
Denbury Resources, Inc.
DNR
$171K 0.03%
+100,000
New +$344K
OMAD.WS
242
DELISTED
One Madison Corporation
OMAD.WS
$144K 0.02%
185,059
-3,900
-2% -$4.06K
SMSHW
243
DELISTED
Smaaash Entertainment Inc. Warrant
SMSHW
$138K 0.02%
+795,144
New +$167K
WRLSW
244
DELISTED
Pensare Acquisition Corp. Warrant
WRLSW
$135K 0.02%
673,401
– –
CMSSW
245
DELISTED
CM Seven Star Acquisition Corporation Warrant
CMSSW
$132K 0.02%
528,234
+18,700
+4% +$6K
GSAH.WS
246
DELISTED
GS Acquisition Holdings Corp Warrants, each whole warrant exercisable for one share of Class A Commo
GSAH.WS
$127K 0.02%
101,020
– –
BRPAR
247
DELISTED
Big Rock Partners Acquisition Corp. Right
BRPAR
$123K 0.02%
340,332
– –
TMCXW
248
DELISTED
Trinity Merger Corp. Warrant
TMCXW
$118K 0.02%
299,400
– –
CHK
249
CALL
DELISTED
Chesapeake Energy Corporation
CHK
$105K 0.02%
+250
New +$172K
CHK
250
PUT
DELISTED
Chesapeake Energy Corporation
CHK
$105K 0.02%
+250
New +$172K
8 9
10
11 12

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K2 Principal Fund's Q4 2018 Portfolio in Review

As of Q4 2018, K2 Principal Fund held 434 positions worth $659M, down 37% from $1.04B the previous quarter. Its ten largest holdings account for 15% of the portfolio.

K2 Principal Fund withdrew a net $356M in Q4 2018, closing 152 positions and reducing 69 holdings. Its most notable exit was Aetna Inc, an estimated $23M position sold in full.

By sector, the portfolio is most concentrated in Financials at 7.9% of assets, down from 8.8% a quarter earlier, followed by Technology and Communication Services.

Against the trend, K2 Principal Fund opened a new position in Alphabet (Google) Class C worth $10M.

  • K2 Principal Fund's largest Q4 2018 buy was Alphabet (Google) Class C: 194,020 shares worth $10M.
  • K2 Principal Fund added most to Federal Street Acquisition Corp. Common Stock in Q4 2018, an estimated $8.03M increase.
  • K2 Principal Fund's biggest Q4 2018 reduction was Twenty-First Century Fox, Inc. Class B, cutting an estimated $6.42M.
  • K2 Principal Fund fully exited Aetna Inc in Q4 2018, selling an estimated $23M.
  • K2 Principal Fund's ten largest holdings make up 15% of its $659M portfolio in Q4 2018.
  • K2 Principal Fund opened 108 new positions and closed 152 in Q4 2018.
  • K2 Principal Fund's portfolio value fell 37% quarter-over-quarter to $659M.

Based on K2 Principal Fund's 13F filing for Q4 2018, filed 13 Feb 2019.