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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
TRIT
301
DELISTED
Triterras, Inc. Class A Ordinary Shares
TRIT
– –
-267,924
Closed -$2.88M
TREB.U
302
DELISTED
Trebia Acquisition Corp. Units, each consisting of one Class A Ordinary Share, and one-third of one
TREB.U
– –
-544,264
Closed -$5.69M
CLDR
303
CALL
DELISTED
Cloudera, Inc.
CLDR
– –
-175,000
Closed -$2.23M
CLDR
304
PUT
DELISTED
Cloudera, Inc.
CLDR
– –
-72,700
Closed -$925K
FUSE.U
305
DELISTED
Fusion Acquisition Corp. Units, each consisting of one share of Class A common stock, $0.0001 par va
FUSE.U
– –
-250,000
Closed -$2.54M
CLOVW
306
CALL
DELISTED
Clover Health Investments, Corp. Warrants
CLOVW
– –
-184,328
Closed -$553K
BPY
307
CALL
DELISTED
Brookfield Property Partners L.P. Limited Partnership Units
BPY
– –
-34,600
Closed -$342K
OPENW
308
CALL
DELISTED
Opendoor Technologies Inc Warrants expiring 12/18/2025
OPENW
– –
-42,196
Closed -$153K
WPF.U
309
DELISTED
Foley Trasimene Acquisition Corp.
WPF.U
– –
-251,823
Closed -$2.69M
HECCU
310
DELISTED
Hudson Executive Investment Corp. Units
HECCU
– –
-53,041
Closed -$544K
CCX.U
311
DELISTED
Churchill Capital Corp II
CCX.U
– –
-276,280
Closed -$3.37M
JWS.U
312
DELISTED
Jaws Acquisition Corp. Units, each consisting of one Class A ordinary share and one-third of one red
JWS.U
– –
-384,330
Closed -$4.01M
FLIR
313
CALL
DELISTED
FLIR Systems, Inc. (DE) Common Stock
FLIR
– –
-187,500
Closed -$7.61M
FLIR
314
DELISTED
FLIR Systems, Inc. (DE) Common Stock
FLIR
– –
-33,331
Closed -$22K
NBACU
315
DELISTED
Newborn Acquisition Corp. Unit
NBACU
– –
-90,095
Closed -$915K
SG
316
DELISTED
Sirius International Insurance Group, Ltd. Common Share
SG
– –
-60,205
Closed -$418K
TIF
317
PUT
DELISTED
Tiffany & Co.
TIF
– –
-15,000
Closed -$1.83M
LCAHW
318
CALL
DELISTED
Landcadia Holdings II, Inc. Warrant
LCAHW
– –
-518,383
Closed -$2.8M
PTACU
319
DELISTED
PropTech Acquisition Corporation Unit
PTACU
– –
-311,101
Closed -$3.3M
PTACW
320
CALL
DELISTED
PropTech Acquisition Corporation Warrant
PTACW
– –
-186,200
Closed -$130K
HYACW
321
CALL
DELISTED
Haymaker Acquisition Corp. II Warrant
HYACW
– –
-62,283
Closed -$97K
PIC.U
322
DELISTED
Pivotal Investment Corporation II Units, each consisting of one share of Class A common stock and on
PIC.U
– –
-371,512
Closed -$3.83M
TRNE.WS
323
CALL
DELISTED
Trine Acquisition Corp. Redeemable Warrants, each whole warrant exercisable for one share of Class A
TRNE.WS
– –
-119,550
Closed -$185K
GMHIW
324
CALL
DELISTED
Gores Metropoulos, Inc. Warrant
GMHIW
– –
-19,644
Closed -$39K
ORSNR
325
CALL
DELISTED
Orisun Acquisition Corp. Right
ORSNR
– –
-159,610
Closed -$29K
10 11 12
13
14

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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.