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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
-4.81%
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
$659M
AUM Growth
-$383M
Cap. Flow
-$356M
Cap. Flow %
-54%
Top 10 Hldgs %
15.19%
Holding
434
New
108
Increased
53
Reduced
69
Closed
152

Top Buys

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$10.4M
2
FSAC
Federal Street Acquisition Corp. Common Stock
FSAC
+$8.03M
3
CFFAU
CF Finance Acquisition Corp. Unit
CFFAU
+$8.01M
4
FTACU
FinTech Acquisition Corp. III Unit
FTACU
+$7.52M
5
VVC
Vectren Corporation
VVC
+$6.11M

Top Sells

Rank Stock Value
1
AET
Aetna Inc
AET
+$23M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$20.6M
3
COL
Rockwell Collins
COL
+$19.1M
4
NRCG
NRC Group Holdings Corp.
NRCG
+$18.6M
5
EACQ
Easterly Acquisition Corp
EACQ
+$16.3M

Sector Composition

Rank Sector Weight
1 Financials 7.89%
2 Technology 7.77%
3 Communication Services 6.55%
4 Consumer Discretionary 4.47%
5 Industrials 4.47%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SWIR
351
PUT
DELISTED
Sierra Wireless
SWIR
– –
-188,900
Closed -$3.8M
USWS
352
DELISTED
U.S. Well Services, Inc. Class A Common Stock
USWS
– –
-8,840
Closed -$1.86M
BPY
353
PUT
DELISTED
Brookfield Property Partners L.P. Limited Partnership Units
BPY
– –
-100,000
Closed -$2.09M
NAV
354
CALL
DELISTED
Navistar International
NAV
– –
-10,000
Closed -$385K
CXO
355
DELISTED
CONCHO RESOURCES INC.
CXO
– –
-2,200
Closed -$336K
KBLMW
356
DELISTED
KBL Merger Corp. IV Warrant
KBLMW
– –
-73,777
Closed -$15K
CCMP
357
DELISTED
CMC Materials, Inc. Common Stock
CCMP
– –
-4,316
Closed -$445K
FG.WS
358
DELISTED
FGL Holdings Warrants exercisable for one Ordinary Share at a price of $11.50 per share
FG.WS
– –
-862,123
Closed -$1.7M
AKRX
359
CALL
DELISTED
Akorn Inc
AKRX
– –
-50,000
Closed -$649K
NRCG
360
DELISTED
NRC Group Holdings Corp.
NRCG
– –
-1,828,830
Closed -$18.6M
MTECW
361
DELISTED
MTech Acquisition Corp. Warrant
MTECW
– –
-385,295
Closed -$570K
MTEC
362
DELISTED
MTech Acquisition Corp. Class A Common Stock
MTEC
– –
-102,870
Closed -$1.05M
USG
363
DELISTED
Usg
USG
– –
-18,748
Closed -$802K
HYACW
364
DELISTED
Haymaker Acquisition Corp. Warrant
HYACW
– –
-151,600
Closed -$183K
ORBK
365
DELISTED
Orbotech Ltd
ORBK
– –
-36,039
Closed -$2.14M
ATHN
366
CALL
DELISTED
Athenahealth, Inc.
ATHN
– –
-1,800
Closed -$240K
ATHN
367
PUT
DELISTED
Athenahealth, Inc.
ATHN
– –
-55,200
Closed -$7.38M
FSACW
368
DELISTED
Federal Street Acquisition Corp. Warrant
FSACW
– –
-268,542
Closed -$376K
XOXO
369
DELISTED
Xo Group Inc
XOXO
– –
-6,530
Closed -$225K
ESRX
370
DELISTED
Express Scripts Holding Company
ESRX
– –
-95,000
Closed -$9.03M
ESRX
371
PUT
DELISTED
Express Scripts Holding Company
ESRX
– –
-65,000
Closed -$6.18M
DOTA
372
DELISTED
Draper Oakwood Technology Acquisition, Inc. Class A Common Stock
DOTA
– –
-283,093
Closed -$2.87M
DOTAR
373
DELISTED
Draper Oakwood Technology Acquisition, Inc. Rights
DOTAR
– –
-48,400
Closed -$25K
MZOR
374
DELISTED
Mazor Robotics Ltd.
MZOR
– –
-34,515
Closed -$2.01M
FCE.A
375
DELISTED
Forest City Realty Trust, Inc.
FCE.A
– –
-88,533
Closed -$2.22M
13 14
15
16 17

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K2 Principal Fund's Q4 2018 Portfolio in Review

As of Q4 2018, K2 Principal Fund held 434 positions worth $659M, down 37% from $1.04B the previous quarter. Its ten largest holdings account for 15% of the portfolio.

K2 Principal Fund withdrew a net $356M in Q4 2018, closing 152 positions and reducing 69 holdings. Its most notable exit was Aetna Inc, an estimated $23M position sold in full.

By sector, the portfolio is most concentrated in Financials at 7.9% of assets, down from 8.8% a quarter earlier, followed by Technology and Communication Services.

Against the trend, K2 Principal Fund opened a new position in Alphabet (Google) Class C worth $10M.

  • K2 Principal Fund's largest Q4 2018 buy was Alphabet (Google) Class C: 194,020 shares worth $10M.
  • K2 Principal Fund added most to Federal Street Acquisition Corp. Common Stock in Q4 2018, an estimated $8.03M increase.
  • K2 Principal Fund's biggest Q4 2018 reduction was Twenty-First Century Fox, Inc. Class B, cutting an estimated $6.42M.
  • K2 Principal Fund fully exited Aetna Inc in Q4 2018, selling an estimated $23M.
  • K2 Principal Fund's ten largest holdings make up 15% of its $659M portfolio in Q4 2018.
  • K2 Principal Fund opened 108 new positions and closed 152 in Q4 2018.
  • K2 Principal Fund's portfolio value fell 37% quarter-over-quarter to $659M.

Based on K2 Principal Fund's 13F filing for Q4 2018, filed 13 Feb 2019.