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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
CIC.WS
251
DELISTED
Capitol Investment Corp. IV
CIC.WS
$92K 0.01%
92,000
– –
PRTH icon
252
Priority Technology Holdings
PRTH
$548M
$80K 0.01%
10,062
-17,738
-64% -$160K
TIBRW
253
DELISTED
Tiberius Acquisition Corporation Warrant
TIBRW
$78K 0.01%
200,000
– –
JE
254
PUT
DELISTED
Just Energy Group Inc
JE
$66K 0.01%
606
-303
-33% -$35.2K
WRLSR
255
DELISTED
Pensare Acquisition Corp. Right to purchase 1/10 of common stock
WRLSR
$50K 0.01%
173,586
– –
USWSW
256
DELISTED
U.S. Well Services, Inc. Warrants
USWSW
$48K 0.01%
+80,484
New +$50.6K
GIG.RT
257
DELISTED
GigCapital, Inc. Rights, each exchangeable into one-tenth of one share of Common Stock
GIG.RT
$45K 0.01%
164,000
+4,800
+3% +$1.75K
NRXPW
258
DELISTED
NRX Pharmaceuticals Warrant
NRXPW
$39K 0.01%
101,200
– –
BROGR
259
DELISTED
Twelve Seas Investment Company Rights
BROGR
$35K 0.01%
99,800
– –
LACQW
260
DELISTED
Leisure Acquisition Corp. Warrant
LACQW
$32K ﹤0.01%
40,400
– –
JSYNW
261
DELISTED
Jensyn Acquistion Corp. Warrants
JSYNW
$29K ﹤0.01%
382,627
+35,000
+10% +$2.49K
NEBUW
262
DELISTED
Nebula Acquisition Corporation Warrant
NEBUW
$26K ﹤0.01%
27,849
– –
TWLVW
263
DELISTED
Twelve Seas Investment Company Warrant
TWLVW
$25K ﹤0.01%
95,500
– –
LTN.RT
264
DELISTED
Union Acquisition Corp.
LTN.RT
$22K ﹤0.01%
+57,654
New +$22.1K
BRACR
265
DELISTED
Black Ridge Acquisition Corp. Right
BRACR
$21K ﹤0.01%
70,500
-5,400
-7% -$1.87K
JSYNR
266
DELISTED
Jensyn Acquistion Corp. Rights
JSYNR
$18K ﹤0.01%
130,155
+100
+0.1% +$13
LTN.WS
267
DELISTED
Union Acquisition Corp.
LTN.WS
$18K ﹤0.01%
71,245
+15,800
+28% +$5.15K
LGC.WS
268
DELISTED
Legacy Acquisition Corp. Warrants, exercisable for one-half of one share of Class A Common Stock for
LGC.WS
$17K ﹤0.01%
50,000
– –
TKKSW
269
DELISTED
TKK Symphony Acquisition Corporation Warrant
TKKSW
$8K ﹤0.01%
+50,000
New +$9.97K
AMRWW
270
DELISTED
Alta Mesa Resources Inc Warrant
AMRWW
$8K ﹤0.01%
107,166
-50,000
-32% -$14.7K
ESTRW
271
DELISTED
Estre Ambiental, Inc
ESTRW
$7K ﹤0.01%
82,168
-63,587
-44% -$10.6K
MUDSW
272
DELISTED
Mudrick Capital Acquisition Corporation Warrant
MUDSW
$5K ﹤0.01%
11,000
-7,400
-40% -$4.22K
AAL icon
273
CALL
American Airlines Group
AAL
$9.89B
– –
-25,900
Closed -$1.07M
ABUS icon
274
Arbutus Biopharma
ABUS
$871M
– –
-11,884
Closed -$112K
AMD icon
275
PUT
Advanced Micro Devices
AMD
$736B
– –
-30,000
Closed -$927K
9 10
11
12 13

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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.