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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
+11.75%
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
$1.14B
AUM Growth
+$472M
Cap. Flow
+$253M
Cap. Flow %
22.19%
Top 10 Hldgs %
31.13%
Holding
444
New
192
Increased
28
Reduced
51
Closed
137

Top Buys

Rank Stock Value
1
CIXX
CI Financial Corp.
CIXX
+$25.5M
2
LCID icon
Lucid Motors
LCID
+$12.9M
3
VHAQ.U
Viveon Health Acquisition Corp. Units, each consisting of one share of common stock, one Warrant entitling the holder to purchase one-half of a share of common stock, and one right to receive one-twentieth of a share of common stock
VHAQ.U
+$12.8M
4
PFSI icon
PennyMac Financial
PFSI
+$12.6M
5
NOACU
Natural Order Acquisition Corp. Unit
NOACU
+$10.8M

Top Sells

Rank Stock Value
1
SKIL icon
Skillsoft
SKIL
+$10.2M
2
MVST icon
Microvast
MVST
+$10.2M
3
BG icon
Bunge Global
BG
+$9.6M
4
APXTU
Apex Technology Acquisition Corporation Unit
APXTU
+$9.03M
5
OSB
Norbord Inc.
OSB
+$8.77M

Sector Composition

Rank Sector Weight
1 Financials 11.13%
2 Industrials 3.32%
3 Consumer Discretionary 2.76%
4 Technology 2.33%
5 Real Estate 2.05%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RMO
351
DELISTED
Romeo Power, Inc.
RMO
– –
-502,340
Closed -$5.37M
NMMCU
352
DELISTED
North Mountain Merger Corp. Unit
NMMCU
– –
-250,969
Closed -$2.56M
EQD.U
353
DELISTED
Equity Distribution Acquisition Corp. Units, each consisting of one share of Class A common stock, and one-third of one redeemable warrant
EQD.U
– –
-489,354
Closed -$5.04M
GOAC.U
354
DELISTED
GO Acquisition Corp. Units, each consisting of one share of Class A Common Stock and one-third of on
GOAC.U
– –
-307,100
Closed -$3.1M
OACB.U
355
DELISTED
Oaktree Acquisition Corp. II Units, each consisting of one Class A ordinary share, and one-fourth of
OACB.U
– –
-100,000
Closed -$1.03M
LCAPU
356
DELISTED
Lionheart Acquisition Corp. II Unit
LCAPU
– –
-197,916
Closed -$1.97M
MGP
357
DELISTED
MGM Growth Properties LLC Class A common shares representing limited liability company interests
MGP
– –
-40,008
Closed -$1.12M
CCAC.U
358
DELISTED
CITIC Capital Acquisition Corp. Units, each consisting of one Class A ordinary share, $0.0001 par va
CCAC.U
– –
-46,130
Closed -$472K
CCAC.WS
359
CALL
DELISTED
CITIC Capital Acquisition Corp. Warrants, each whole warrant exercisable for one Class A ordinary sh
CCAC.WS
– –
-99,911
Closed -$125K
BTRSW
360
CALL
DELISTED
BTRS Holdings Inc. Warrants
BTRSW
– –
-394,372
Closed -$552K
GSAH.U
361
DELISTED
GS Acquisition Holdings Corp II Units, each consisting of one share of Class A Common Stock and one-
GSAH.U
– –
-423,144
Closed -$4.75M
STWOU
362
DELISTED
ACON S2 Acquisition Corp Unit
STWOU
– –
-58,933
Closed -$591K
CLDR
363
DELISTED
Cloudera, Inc.
CLDR
– –
-209,892
Closed -$2.29M
LATNW
364
CALL
DELISTED
Union Acquisition Corp. II Warrant
LATNW
– –
-172,900
Closed -$130K
QELLU
365
DELISTED
Qell Acquisition Corp. Unit
QELLU
– –
-500,000
Closed -$5.08M
PFPT
366
PUT
DELISTED
Proofpoint, Inc.
PFPT
– –
-22,500
Closed -$2.38M
TWCTU
367
DELISTED
TWC Tech Holdings II Corp. Unit
TWCTU
– –
-248,399
Closed -$2.51M
SNPR.U
368
DELISTED
Tortoise Acquisition Corp. II Units, each consisting of one Class A ordinary share and one-fourth of
SNPR.U
– –
-75,000
Closed -$816K
VACQU
369
DELISTED
Vector Acquisition Corporation Unit
VACQU
– –
-500,000
Closed -$5.07M
NSH.U
370
DELISTED
NavSight Holdings, Inc. Units, each consisting of one share of Class A Common Stock and one-half of
NSH.U
– –
-220,600
Closed -$2.22M
SAIIU
371
DELISTED
Software Acquisition Group Inc. II Unit
SAIIU
– –
-300,000
Closed -$2.98M
SRACU
372
DELISTED
Stable Road Acquisition Corp. Unit
SRACU
– –
-561,120
Closed -$5.89M
RTP.U
373
DELISTED
Reinvent Technology Partners Units, each consisting of one Class A ordinary share and one-fourth of
RTP.U
– –
-50,000
Closed -$574K
GRSVU
374
DELISTED
Gores Holdings V, Inc. Unit
GRSVU
– –
-60,000
Closed -$621K
SVACU
375
DELISTED
Starboard Value Acquisition Corp. Unit
SVACU
– –
-400,000
Closed -$4.04M
13 14
15
16 17

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K2 Principal Fund's Q4 2020 Portfolio in Review

As of Q4 2020, K2 Principal Fund held 444 positions worth $1.14B, up 71% from $669M the previous quarter. Its ten largest holdings account for 31% of the portfolio.

K2 Principal Fund deployed $253M of net new capital in Q4 2020, opening 192 new positions and adding to 28 existing holdings. Its largest new stake was CI Financial Corp.: 1,967,717 shares worth $24.4M.

By sector, the portfolio is most concentrated in Financials at 11% of assets, up from 9.6% a quarter earlier, followed by Industrials and Consumer Discretionary.

On the sell side, the largest reduction was Bunge Global, an estimated $9.6M trimmed.

  • K2 Principal Fund's largest Q4 2020 buy was CI Financial Corp.: 1,967,717 shares worth $24.4M.
  • K2 Principal Fund added most to PennyMac Financial in Q4 2020, an estimated $12.6M increase.
  • K2 Principal Fund's biggest Q4 2020 reduction was Bunge Global, cutting an estimated $9.6M.
  • K2 Principal Fund fully exited Skillsoft in Q4 2020, selling an estimated $10.2M.
  • K2 Principal Fund's ten largest holdings make up 31% of its $1.14B portfolio in Q4 2020.
  • K2 Principal Fund opened 192 new positions and closed 137 in Q4 2020.
  • K2 Principal Fund's portfolio value rose 71% quarter-over-quarter to $1.14B.

Based on K2 Principal Fund's 13F filing for Q4 2020, filed 12 Feb 2021.