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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
+5.24%
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
$828M
AUM Growth
+$43.8M
Cap. Flow
-$46.5M
Cap. Flow %
-5.61%
Top 10 Hldgs %
17.92%
Holding
425
New
134
Increased
44
Reduced
44
Closed
148

Top Buys

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$8.4M
2
LLL
L3 Technologies, Inc.
LLL
+$8.23M
3
GXGXU
GX Acquisiton Corp. Unit
GXGXU
+$8.03M
4
RPLA.U
Replay Acquisition Corp.
RPLA.U
+$7.87M
5
HYACU
Haymaker Acquisition Corp. II Unit
HYACU
+$6.07M

Top Sells

Rank Stock Value
1
VEAC
Vantage Energy Acquisition Corp. Class A
VEAC
+$12.1M
2
THCBU
Tuscan Holdings Corp. Unit
THCBU
+$8.93M
3
KXIN icon
Kaixin Holdings
KXIN
+$8.06M
4
TVPT
Travelport Worldwide Limited
TVPT
+$7.57M
5
LEXEA
Liberty Expedia Holdings, Inc. Class A Common Stock
LEXEA
+$6.1M

Sector Composition

Rank Sector Weight
1 Industrials 7.84%
2 Communication Services 6.63%
3 Technology 6.37%
4 Consumer Discretionary 2.84%
5 Financials 1.71%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
THWWW
326
CALL
DELISTED
Target Hospitality Corp. Warrant expiring 3/15/2024
THWWW
– –
-336,175
Closed -$518K
LHC.U
327
DELISTED
Leo Holdings Corp. II Units, each consisting of one Class A ordinary share and one-quarter of one redeemable warrant
LHC.U
– –
-343,504
Closed -$3.56M
DMS
328
DELISTED
Digital Media Solutions, Inc.
DMS
– –
-7,715
Closed -$1.16M
AVCT
329
DELISTED
American Virtual Cloud Technologies, Inc. Common Stock
AVCT
– –
-34,424
Closed -$5.29M
USWSW
330
CALL
DELISTED
U.S. Well Services, Inc. Warrants
USWSW
– –
-189,070
Closed -$191K
SAIL
331
DELISTED
SailPoint Technologies Holdings, Inc. Common Stock
SAIL
– –
-9,000
Closed -$258K
ALACW
332
CALL
DELISTED
Alberton Acquisition Corp Warrant
ALACW
– –
-58,800
Closed -$5K
ALACR
333
CALL
DELISTED
Alberton Acquisition Corp Rights
ALACR
– –
-70,000
Closed -$12K
XLNX
334
PUT
DELISTED
Xilinx Inc
XLNX
– –
-12,500
Closed -$1.58M
TWNKW
335
CALL
DELISTED
Hostess Brands, Inc. Warrants
TWNKW
– –
-189,000
Closed -$246K
LACQW
336
CALL
DELISTED
Leisure Acquisition Corp. Warrant
LACQW
– –
-35,400
Closed -$16K
BRPAR
337
CALL
DELISTED
Big Rock Partners Acquisition Corp. Right
BRPAR
– –
-340,332
Closed -$102K
RMG.U
338
DELISTED
RMG Acquisition Corp.
RMG.U
– –
-150,000
Closed -$1.5M
TZACU
339
DELISTED
Tenzing Acquisition Corp. Units
TZACU
– –
-41,258
Closed -$422K
LGC.WS
340
CALL
DELISTED
Legacy Acquisition Corp. Warrants, exercisable for one-half of one share of Class A Common Stock for
LGC.WS
– –
-10,000
Closed -$3K
DPHCU
341
DELISTED
DiamondPeak Holdings Corp. Units
DPHCU
– –
-100,000
Closed -$1M
FMCIW
342
CALL
DELISTED
Forum Merger II Corporation Warrant
FMCIW
– –
-39,400
Closed -$17K
FPAC.WS
343
CALL
DELISTED
Far Point Acquisition Corporation Warrants, exercisable for one share of Class A Common Stock for $1
FPAC.WS
– –
-259,634
Closed -$348K
BIOX.WS
344
CALL
DELISTED
Bioceres Crop Solutions Corp Warrants, exercisable for ordinary shares
BIOX.WS
– –
-286,165
Closed -$77K
PACQW
345
CALL
DELISTED
Pure Acquisition Corp. Warrant
PACQW
– –
-1,371,863
Closed -$1.5M
ROSEW
346
CALL
DELISTED
Rosehill Resources Inc.
ROSEW
– –
-864,548
Closed -$335K
WBC
347
PUT
DELISTED
WABCO HOLDINGS INC.
WBC
– –
-20,000
Closed -$2.64M
MLNX
348
DELISTED
Mellanox Technologies, Ltd.
MLNX
– –
-12,000
Closed -$1.42M
TIBRW
349
CALL
DELISTED
Tiberius Acquisition Corporation Warrant
TIBRW
– –
-200,000
Closed -$88K
TKKSU
350
DELISTED
TKK Symphony Acquisition Corporation Unit
TKKSU
– –
-420,059
Closed -$4.29M
12 13
14
15 16

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K2 Principal Fund's Q2 2019 Portfolio in Review

As of Q2 2019, K2 Principal Fund held 425 positions worth $828M, up 5.6% from $785M the previous quarter. Its ten largest holdings account for 18% of the portfolio.

K2 Principal Fund withdrew a net $46.5M in Q2 2019, closing 148 positions and reducing 44 holdings. Its most notable exit was Vantage Energy Acquisition Corp. Class A, an estimated $12.1M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 7.8% of assets, up from 4.8% a quarter earlier, followed by Communication Services and Technology.

Against the trend, K2 Principal Fund opened a new position in L3 Technologies, Inc. worth $8.64M.

  • K2 Principal Fund's largest Q2 2019 buy was L3 Technologies, Inc.: 35,254 shares worth $8.64M.
  • K2 Principal Fund added most to Alphabet (Google) Class A in Q2 2019, an estimated $8.4M increase.
  • K2 Principal Fund's biggest Q2 2019 reduction was Tuscan Holdings Corp. Unit, cutting an estimated $8.93M.
  • K2 Principal Fund fully exited Vantage Energy Acquisition Corp. Class A in Q2 2019, selling an estimated $12.1M.
  • K2 Principal Fund's ten largest holdings make up 18% of its $828M portfolio in Q2 2019.
  • K2 Principal Fund opened 134 new positions and closed 148 in Q2 2019.
  • K2 Principal Fund's portfolio value rose 5.6% quarter-over-quarter to $828M.

Based on K2 Principal Fund's 13F filing for Q2 2019, filed 14 Aug 2019.