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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
+6.61%
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
$669M
AUM Growth
+$39.7M
Cap. Flow
-$77.2M
Cap. Flow %
-11.54%
Top 10 Hldgs %
20.07%
Holding
361
New
109
Increased
44
Reduced
41
Closed
118

Top Buys

Rank Stock Value
1
PFSI icon
PennyMac Financial
PFSI
+$14.1M
2
PRPB.U
CC Neuberger Principal Holdings II
PRPB.U
+$9.95M
3
FGNA.U
FG New America Acquisition Corp. Units, each consisting of one share of Class A common stock and one
FGNA.U
+$8.34M
4
WPF
Foley Trasimene Acquisition Corp.
WPF
+$7.22M
5
CCIV.U
Churchill Capital Corp IV Units, each consisting of one share of Class A common stock and one-fifth
CCIV.U
+$7.06M

Top Sells

Rank Stock Value
1
GB
Global Blue Group Holding
GB
+$13.5M
2
CFFAU
CF Finance Acquisition Corp. Unit
CFFAU
+$10.5M
3
PAYA
Paya Holdings Inc. Class A Common Stock
PAYA
+$9.71M
4
FSR
Fisker Inc.
FSR
+$7.79M
5
OPEN icon
Opendoor
OPEN
+$6.16M

Sector Composition

Rank Sector Weight
1 Financials 9.57%
2 Technology 6%
3 Consumer Discretionary 4.46%
4 Consumer Staples 3.65%
5 Healthcare 3.57%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GTEC icon
226
Greenland Technologies Holding
GTEC
$13.8M
$12K ﹤0.01%
10,000
– –
AG icon
227
CALL
First Majestic Silver
AG
$7.41B
– –
-50,000
Closed -$498K
ALLY icon
228
CALL
Ally Financial
ALLY
$13.2B
– –
-180,000
Closed -$3.57M
BIP icon
229
Brookfield Infrastructure Partners
BIP
$19.2B
– –
-60,000
Closed -$2.23M
BRK.B icon
230
Berkshire Hathaway Class B
BRK.B
$1.1T
– –
-2,700
Closed -$482K
CAH icon
231
Cardinal Health
CAH
$53.9B
– –
-17,757
Closed -$911K
DOO
232
Bombardier Recreational Products
DOO
$4.54B
– –
-45,000
Closed -$2.61M
ENPH icon
233
CALL
Enphase Energy
ENPH
$4.96B
– –
-40,000
Closed -$1.9M
GB
234
DELISTED
Global Blue Group Holding
GB
– –
-1,322,391
Closed -$13.5M
GOGO icon
235
PUT
Gogo Inc
GOGO
$565M
– –
-51,500
Closed -$163K
HBM icon
236
Hudbay
HBM
$10.1B
– –
-135,600
Closed -$557K
HPK icon
237
HighPeak Energy
HPK
$903M
– –
-25,184
Closed -$265K
HYG icon
238
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
– –
-50,000
Closed -$4.08M
ING icon
239
CALL
ING
ING
$99.8B
– –
-164,700
Closed -$1.14M
ITB icon
240
iShares US Home Construction ETF
ITB
$2.26B
– –
-15,000
Closed -$784K
IWM icon
241
PUT
iShares Russell 2000 ETF
IWM
$79.8B
– –
-15,000
Closed -$2.15M
JCI icon
242
CALL
Johnson Controls International
JCI
$88.8B
– –
-46,800
Closed -$1.6M
JNK icon
243
PUT
State Street SPDR Bloomberg High Yield Bond ETF
JNK
$7.07B
– –
-50,000
Closed -$5.06M
KNX icon
244
Knight Transportation
KNX
$11.3B
– –
-10,000
Closed -$417K
LBRDK icon
245
Liberty Broadband Class C
LBRDK
$4.88B
– –
-2,471
Closed -$306K
LPTH icon
246
Lightpath Technologies
LPTH
$651M
– –
-78,396
Closed -$262K
LSEA
247
DELISTED
Landsea Homes
LSEA
– –
-501,699
Closed -$5.37M
LUV icon
248
CALL
Southwest Airlines
LUV
$22B
– –
-50,000
Closed -$1.71M
LUV icon
249
PUT
Southwest Airlines
LUV
$22B
– –
-20,000
Closed -$684K
MCD icon
250
CALL
McDonald's
MCD
$192B
– –
-18,000
Closed -$3.32M
8 9
10
11 12

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SCA
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K2 Principal Fund's Q3 2020 Portfolio in Review

As of Q3 2020, K2 Principal Fund held 361 positions worth $669M, up 6.3% from $629M the previous quarter. Its ten largest holdings account for 20% of the portfolio.

K2 Principal Fund withdrew a net $77.2M in Q3 2020, closing 118 positions and reducing 41 holdings. Its most notable exit was Global Blue Group Holding, an estimated $13.5M position sold in full.

By sector, the portfolio is most concentrated in Financials at 9.6% of assets, up from 6.9% a quarter earlier, followed by Technology and Consumer Discretionary.

Against the trend, K2 Principal Fund opened a new position in CC Neuberger Principal Holdings II worth $10.1M.

  • K2 Principal Fund's largest Q3 2020 buy was CC Neuberger Principal Holdings II: 976,880 shares worth $10.1M.
  • K2 Principal Fund added most to PennyMac Financial in Q3 2020, an estimated $14.1M increase.
  • K2 Principal Fund's biggest Q3 2020 reduction was Tuscan Holdings Corp. II Common Stock, cutting an estimated $3.5M.
  • K2 Principal Fund fully exited Global Blue Group Holding in Q3 2020, selling an estimated $13.5M.
  • K2 Principal Fund's ten largest holdings make up 20% of its $669M portfolio in Q3 2020.
  • K2 Principal Fund opened 109 new positions and closed 118 in Q3 2020.
  • K2 Principal Fund's portfolio value rose 6.3% quarter-over-quarter to $669M.

Based on K2 Principal Fund's 13F filing for Q3 2020, filed 13 Nov 2020.