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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
+8.26%
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
$785M
AUM Growth
+$125M
Cap. Flow
+$25.3M
Cap. Flow %
3.23%
Top 10 Hldgs %
19.97%
Holding
445
New
157
Increased
40
Reduced
37
Closed
159

Top Buys

Rank Stock Value
1
THCBU
Tuscan Holdings Corp. Unit
THCBU
+$16.8M
2
TRNE.U
Trine Acquisition Corp. Units, each consisting of one share of Class A Common Stock and one-half of
TRNE.U
+$8.01M
3
INSUU
Insurance Acquisition Corp. Unit
INSUU
+$7.07M
4
LVOXU
LiveVox Holding, Inc. Unit
LVOXU
+$6.99M
5
STNL
Sentinel Energy Services Inc. Class A Common Stock
STNL
+$6.89M

Top Sells

Rank Stock Value
1
FSAC
Federal Street Acquisition Corp. Common Stock
FSAC
+$11.1M
2
GOOG icon
Alphabet (Google) Class C
GOOG
+$10M
3
DMTK
DermTech, Inc. Common Stock
DMTK
+$6.52M
4
DNB
Dun & Bradstreet
DNB
+$6.4M
5
HYACU
Haymaker Acquisition Corp. Unit
HYACU
+$6.35M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 6.99%
2 Technology 6.48%
3 Industrials 4.82%
4 Communication Services 4.36%
5 Financials 3.21%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NESRW
326
DELISTED
National Energy Services Reunited Corp. Warrant
NESRW
– –
-873,496
Closed -$824K
DMTK
327
DELISTED
DermTech, Inc. Common Stock
DMTK
– –
-319,452
Closed -$6.52M
VMW
328
CALL
DELISTED
VMware, Inc
VMW
– –
-10,000
Closed -$1.37M
VMW
329
PUT
DELISTED
VMware, Inc
VMW
– –
-10,000
Closed -$1.37M
UNVR
330
CALL
DELISTED
Univar Solutions Inc.
UNVR
– –
-48,000
Closed -$852K
UNVR
331
DELISTED
Univar Solutions Inc.
UNVR
– –
-103,417
Closed -$1.83M
ROCC
332
CALL
DELISTED
Ranger Oil Corporation Class A Common Stock
ROCC
– –
-25,000
Closed -$1.35M
USWSW
333
DELISTED
U.S. Well Services, Inc. Warrants
USWSW
– –
-80,484
Closed -$61.5K
TWTR
334
PUT
DELISTED
Twitter, Inc.
TWTR
– –
-45,000
Closed -$1.29M
GSS
335
DELISTED
Golden Star Resources Ltd.
GSS
– –
-194,562
Closed -$613K
TWNKW
336
DELISTED
Hostess Brands, Inc. Warrants
TWNKW
– –
-194,000
Closed -$217K
XEC
337
DELISTED
CIMAREX ENERGY CO
XEC
– –
-5,915
Closed -$365K
LACQW
338
DELISTED
Leisure Acquisition Corp. Warrant
LACQW
– –
-40,400
Closed -$27.4K
BRPAR
339
DELISTED
Big Rock Partners Acquisition Corp. Right
BRPAR
– –
-340,332
Closed -$99K
LGC.WS
340
DELISTED
Legacy Acquisition Corp. Warrants, exercisable for one-half of one share of Class A Common Stock for
LGC.WS
– –
-50,000
Closed -$14.7K
GRAF.U
341
DELISTED
Graf Industrial Corp. Units, each consisting of One share of Common Stock and One redeemable Warrant
GRAF.U
– –
-264,354
Closed -$2.63M
JE
342
PUT
DELISTED
Just Energy Group Inc
JE
– –
-606
Closed -$66K
FPAC.WS
343
DELISTED
Far Point Acquisition Corporation Warrants, exercisable for one share of Class A Common Stock for $1
FPAC.WS
– –
-259,634
Closed -$346K
PACQW
344
DELISTED
Pure Acquisition Corp. Warrant
PACQW
– –
-1,371,863
Closed -$1.55M
ROSEW
345
DELISTED
Rosehill Resources Inc.
ROSEW
– –
-864,548
Closed -$382K
DNR
346
CALL
DELISTED
Denbury Resources, Inc.
DNR
– –
-150,000
Closed -$257K
DNR
347
DELISTED
Denbury Resources, Inc.
DNR
– –
-796,068
Closed -$1.36M
DNR
348
PUT
DELISTED
Denbury Resources, Inc.
DNR
– –
-100,000
Closed -$171K
CHK
349
CALL
DELISTED
Chesapeake Energy Corporation
CHK
– –
-250
Closed -$105K
CHK
350
PUT
DELISTED
Chesapeake Energy Corporation
CHK
– –
-250
Closed -$105K
12 13
14
15 16

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K2 Principal Fund's Q1 2019 Portfolio in Review

As of Q1 2019, K2 Principal Fund held 445 positions worth $785M, up 19% from $659M the previous quarter. Its ten largest holdings account for 20% of the portfolio.

K2 Principal Fund deployed $25.3M of net new capital in Q1 2019, opening 157 new positions and adding to 40 existing holdings. Its largest new stake was Tuscan Holdings Corp. Unit: 1,650,000 shares worth $17.2M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 7% of assets, up from 4.5% a quarter earlier, followed by Technology and Industrials.

On the sell side, the largest reduction was Saban Capital Acquisition Corp. Class A Ordinary Share, an estimated $5.9M trimmed.

  • K2 Principal Fund's largest Q1 2019 buy was Tuscan Holdings Corp. Unit: 1,650,000 shares worth $17.2M.
  • K2 Principal Fund added most to Sentinel Energy Services Inc. Class A Common Stock in Q1 2019, an estimated $6.89M increase.
  • K2 Principal Fund's biggest Q1 2019 reduction was Saban Capital Acquisition Corp. Class A Ordinary Share, cutting an estimated $5.9M.
  • K2 Principal Fund fully exited Federal Street Acquisition Corp. Common Stock in Q1 2019, selling an estimated $11.1M.
  • K2 Principal Fund's ten largest holdings make up 20% of its $785M portfolio in Q1 2019.
  • K2 Principal Fund opened 157 new positions and closed 159 in Q1 2019.
  • K2 Principal Fund's portfolio value rose 19% quarter-over-quarter to $785M.

Based on K2 Principal Fund's 13F filing for Q1 2019, filed 14 May 2019.