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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
CFFAU
326
DELISTED
CF Finance Acquisition Corp. Unit
CFFAU
– –
-895,033
Closed -$10.5M
HCCOW
327
CALL
DELISTED
Healthcare Merger Corp. Warrants
HCCOW
– –
-118,300
Closed -$136K
SPAQ.WS
328
CALL
DELISTED
Spartan Energy Acquisition Corp. Warrants, each whole warrant exercisable for one Class A common sto
SPAQ.WS
– –
-224,382
Closed -$404K
SPAQ.U
329
DELISTED
Spartan Energy Acquisition Corp Units (each consisting of one Class A Common Stock and one-third of
SPAQ.U
– –
-93,947
Closed -$1.04M
ARYBU
330
DELISTED
ARYA Sciences Acquisition Corp II Unit
ARYBU
– –
-45,000
Closed -$522K
FTACW
331
CALL
DELISTED
FinTech Acquisition Corp. III Warrant
FTACW
– –
-329,586
Closed -$758K
INSUW
332
CALL
DELISTED
Insurance Acquisition Corp. Warrant
INSUW
– –
-187,605
Closed -$683K
CCXX.WS
333
CALL
DELISTED
Churchill Capital Corp III Warrants, each exercisable for one share of Class A common stock at an ex
CCXX.WS
– –
-119,569
Closed -$359K
SHLL.WS
334
CALL
DELISTED
Tortoise Acquisition Corp. Warrants, each whole warrant exercisable for one share of Class A common
SHLL.WS
– –
-128,354
Closed -$1.39M
JFKKW
335
CALL
DELISTED
8i Enterprises Acquisition Corp Warrant
JFKKW
– –
-96,093
Closed -$44K
CCH.WS
336
CALL
DELISTED
Collier Creek Holdings Warrants, each whole warrant exercisable for one Class A ordinary share at an
CCH.WS
– –
-514,990
Closed -$1.67M
FPAC.WS
337
CALL
DELISTED
Far Point Acquisition Corporation Warrants, exercisable for one share of Class A Common Stock for $1
FPAC.WS
– –
-170,787
Closed -$85K
ROSEW
338
CALL
DELISTED
Rosehill Resources Inc.
ROSEW
– –
-864,548
Closed -$61K
LM
339
DELISTED
Legg Mason, Inc.
LM
– –
-18,677
Closed -$929K
ALO
340
DELISTED
Alio Gold Inc
ALO
– –
-925,200
Closed -$1.59M
MEET
341
DELISTED
The Meet Group, Inc. Common Stock
MEET
– –
-212,419
Closed -$1.32M
UFS
342
PUT
DELISTED
DOMTAR CORPORATION (New)
UFS
– –
-70,000
Closed -$1.48M
EE
343
DELISTED
El Paso Electric Company
EE
– –
-33,613
Closed -$2.25M
RESI
344
CALL
DELISTED
Front Yard Residential Corporation Common Stock
RESI
– –
-53,600
Closed -$466K
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.