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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
TRNE.U
26
DELISTED
Trine Acquisition Corp. Units, each consisting of one share of Class A Common Stock and one-half of
TRNE.U
$7.26M 0.88%
718,900
-81,100
-10% -$817K
PFPT
27
CALL
DELISTED
Proofpoint, Inc.
PFPT
$7.21M 0.87%
+60,000
New +$7.07M
INSUU
28
DELISTED
Insurance Acquisition Corp. Unit
INSUU
$7.21M 0.87%
700,000
– –
LVOXU
29
DELISTED
LiveVox Holding, Inc. Unit
LVOXU
$6.93M 0.84%
690,000
-10,000
-1% -$101K
UFS
30
PUT
DELISTED
DOMTAR CORPORATION (New)
UFS
$6.68M 0.81%
150,000
+56,000
+60% +$2.56M
LPX icon
31
CALL
Louisiana-Pacific
LPX
$5.2B
$6.55M 0.79%
+250,000
New +$6.13M
CTOS icon
32
Custom Truck One Source
CTOS
$2.47B
$6.52M 0.79%
637,499
+472,986
+288% +$4.86M
VLDR
33
DELISTED
Velodyne Lidar, Inc. Common Stock
VLDR
$6.29M 0.76%
631,616
+44,639
+8% +$443K
HYACU
34
DELISTED
Haymaker Acquisition Corp. II Unit
HYACU
$6.13M 0.74%
+600,000
New +$6.07M
CCH.U
35
DELISTED
Collier Creek Holdings Units, each consisting of one Class A ordinary share, $0.0001 par value, and
CCH.U
$5.96M 0.72%
578,188
+114
+0% +$1.19K
LCAHU
36
DELISTED
Landcadia Holdings II, Inc. Unit
LCAHU
$5.84M 0.7%
+583,924
New +$5.85M
HEI.A icon
37
HEICO Corp Class A
HEI.A
$35.4B
$5.68M 0.69%
+54,925
New +$5.06M
IIPR icon
38
CALL
Innovative Industrial Properties
IIPR
$1.78B
$5.56M 0.67%
45,000
+34,800
+341% +$3.19M
QCOM icon
39
PUT
Qualcomm
QCOM
$176B
$5.33M 0.64%
70,000
-190,000
-73% -$13.9M
APC
40
DELISTED
Anadarko Petroleum
APC
$5.29M 0.64%
+75,000
New +$5.03M
AMCIU
41
DELISTED
AMCI Acquisition Corp Unit
AMCIU
$5.09M 0.61%
500,000
– –
VIAB
42
DELISTED
Viacom Inc. Class B
VIAB
$5.05M 0.61%
+169,075
New +$4.94M
MFAC.U
43
DELISTED
Megalith Financial Acquisition Corp. Units, each consisting of one share of Class A Common Stock, an
MFAC.U
$4.78M 0.58%
466,492
-27,558
-6% -$283K
GRSHU
44
DELISTED
Gores Holdings III, Inc. Units
GRSHU
$4.76M 0.58%
455,046
-500
-0.1% -$5.2K
DISCK
45
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
$4.69M 0.57%
164,938
+41,423
+34% +$1.12M
WPM icon
46
Wheaton Precious Metals
WPM
$50.6B
$4.59M 0.55%
+189,900
New +$4.21M
CUK
47
DELISTED
Carnival PLC
CUK
$4.53M 0.55%
100,000
+46,148
+86% +$2.37M
RPAY icon
48
Repay Holdings
RPAY
$315M
$4.49M 0.54%
430,311
+355,311
+474% +$3.67M
BFI
49
DELISTED
BurgerFi International, Inc. Common Stock
BFI
$4.33M 0.52%
421,777
– –
AMD icon
50
PUT
Advanced Micro Devices
AMD
$851B
$4.25M 0.51%
+140,000
New +$3.99M
1
2
3 4 5

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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.