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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
META icon
251
CALL
Meta Platforms (Facebook)
META
$1.42T
– –
-6,000
Closed -$1.36M
MIST icon
252
Milestone Pharmaceuticals
MIST
$138M
– –
-169,730
Closed -$642K
MMM icon
253
3M
MMM
$90.9B
– –
-9,710
Closed -$1.27M
MMM icon
254
PUT
3M
MMM
$90.9B
– –
-2,392
Closed -$312K
MS icon
255
Morgan Stanley
MS
$331B
– –
-60,876
Closed -$2.94M
MSFT icon
256
Microsoft
MSFT
$3.45T
– –
-7,265
Closed -$1.48M
MTA
257
Metalla Royalty & Streaming
MTA
$688M
– –
-90,000
Closed -$650K
MU icon
258
Micron Technology
MU
$930B
– –
-12,500
Closed -$644K
NOC icon
259
CALL
Northrop Grumman
NOC
$77.1B
– –
-4,000
Closed -$1.23M
ODP
260
DELISTED
ODP
ODP
– –
-4,643
Closed -$40K
OPEN icon
261
Opendoor
OPEN
$3.64B
– –
-541,908
Closed -$6.16M
PFSI icon
262
CALL
PennyMac Financial
PFSI
$3.92B
– –
-10,000
Closed -$418K
PLAY icon
263
CALL
Dave & Buster's
PLAY
$377M
– –
-25,000
Closed -$333K
QCOM icon
264
Qualcomm
QCOM
$155B
– –
-45,000
Closed -$4.81M
QCOM icon
265
PUT
Qualcomm
QCOM
$155B
– –
-10,000
Closed -$912K
RGLD icon
266
CALL
Royal Gold
RGLD
$16.8B
– –
-50,000
Closed -$6.22M
RIO icon
267
CALL
Rio Tinto
RIO
$158B
– –
-12,000
Closed -$674K
SHAK icon
268
CALL
Shake Shack
SHAK
$2.53B
– –
-20,000
Closed -$1.06M
SHAK icon
269
PUT
Shake Shack
SHAK
$2.53B
– –
-8,000
Closed -$424K
SLV icon
270
iShares Silver Trust
SLV
$28B
– –
-24,900
Closed -$566K
SMH icon
271
CALL
VanEck Semiconductor ETF
SMH
$65.2B
– –
-100,000
Closed -$7.64M
SPY icon
272
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$790B
– –
-130,000
Closed -$40.1M
SSRM icon
273
CALL
SSR Mining
SSRM
$5.32B
– –
-20,000
Closed -$579K
STNG icon
274
PUT
Scorpio Tankers
STNG
$3.87B
– –
-50,000
Closed -$641K
TJX icon
275
TJX Companies
TJX
$174B
– –
-42,618
Closed -$304K
9 10
11
12 13

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WIM
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LCG
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CCM
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SMA
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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.