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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
-4.91%
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
$528M
AUM Growth
-$628M
Cap. Flow
-$547M
Cap. Flow %
-103.77%
Top 10 Hldgs %
24.98%
Holding
437
New
135
Increased
31
Reduced
39
Closed
204

Top Buys

Rank Stock Value
1
MVST icon
Microvast
MVST
+$9.63M
2
PAYA
Paya Holdings Inc. Class A Common Stock
PAYA
+$8.5M
3
UTZ icon
Utz Brands
UTZ
+$8.14M
4
THCA
Tuscan Holdings Corp. II Common Stock
THCA
+$7.27M
5
SKIL icon
Skillsoft
SKIL
+$6.92M

Top Sells

Rank Stock Value
1
MSFT icon
Microsoft
MSFT
+$18.6M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$15.9M
3
V icon
Visa
V
+$12M
4
VVNT
Vivint Smart Home, Inc. Class A Common Stock
VVNT
+$11.7M
5
MCD icon
McDonald's
MCD
+$11.2M

Sector Composition

Rank Sector Weight
1 Financials 4.8%
2 Consumer Discretionary 4.59%
3 Consumer Staples 4.3%
4 Healthcare 3.9%
5 Industrials 3.86%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LM
101
DELISTED
Legg Mason, Inc.
LM
$855K 0.16%
+17,500
New +$764K
MA icon
102
CALL
Mastercard
MA
$510B
$845K 0.16%
+3,500
New +$1.04M
BEN icon
103
CALL
Franklin Resources
BEN
$17.2B
$835K 0.16%
+50,000
New +$1.15M
RHI icon
104
CALL
Robert Half
RHI
$3.81B
$819K 0.16%
21,700
+3,700
+21% +$200K
WBC
105
DELISTED
WABCO HOLDINGS INC.
WBC
$764K 0.14%
5,655
-50,762
-90% -$6.83M
TCO
106
DELISTED
Taubman Centers Inc.
TCO
$752K 0.14%
+17,953
New +$748K
BHP icon
107
CALL
BHP
BHP
$218B
$719K 0.14%
+21,972
New +$917K
MVSTW
108
CALL
DELISTED
Microvast Holdings Warrants
MVSTW
$703K 0.13%
+1,803,555
New +$785K
CFFAW
109
CALL
DELISTED
CF Finance Acquisition Corp. Warrant
CFFAW
$697K 0.13%
+1,393,167
New +$1.28M
MMM icon
110
CALL
3M
MMM
$90.8B
$683K 0.13%
5,980
-141,606
-96% -$18.6M
MCHP icon
111
Microchip Technology
MCHP
$40.7B
$678K 0.13%
+20,000
New +$941K
MCHP icon
112
PUT
Microchip Technology
MCHP
$40.7B
$678K 0.13%
+20,000
New +$941K
OSK icon
113
CALL
Oshkosh
OSK
$8.82B
$643K 0.12%
+10,000
New +$784K
SPLK
114
DELISTED
Splunk Inc
SPLK
$631K 0.12%
+5,000
New +$736K
MMSI icon
115
Merit Medical Systems
MMSI
$4.97B
$625K 0.12%
+20,000
New +$712K
HCC icon
116
Warrior Met Coal
HCC
$4.25B
$623K 0.12%
+58,700
New +$1.06M
CAE icon
117
CAE Inc. Common Shares
CAE
$8.31B
$608K 0.12%
+34,200
New +$864K
WM icon
118
Waste Management
WM
$90.9B
$594K 0.11%
6,415
+2,135
+50% +$245K
THBRU
119
DELISTED
Thunder Bridge Acquisition II, Ltd. Units
THBRU
$593K 0.11%
58,201
– –
SPR
120
DELISTED
Spirit AeroSystems
SPR
$587K 0.11%
+24,537
New +$1.36M
SPR
121
PUT
DELISTED
Spirit AeroSystems
SPR
$574K 0.11%
+24,000
New +$1.33M
CCH.WS
122
CALL
DELISTED
Collier Creek Holdings Warrants, each whole warrant exercisable for one Class A ordinary share at an
CCH.WS
$567K 0.11%
+419,725
New +$713K
SHAK icon
123
PUT
Shake Shack
SHAK
$2.54B
$566K 0.11%
15,000
-2,500
-14% -$148K
RIO icon
124
CALL
Rio Tinto
RIO
$158B
$547K 0.1%
+12,000
New +$616K
LPX icon
125
Louisiana-Pacific
LPX
$5.02B
$545K 0.1%
+31,740
New +$878K
3 4
5
6 7

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WIM
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LCG
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CCM
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SMA
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SCA
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K2 Principal Fund's Q1 2020 Portfolio in Review

As of Q1 2020, K2 Principal Fund held 437 positions worth $528M, down 54% from $1.16B the previous quarter. Its ten largest holdings account for 25% of the portfolio.

K2 Principal Fund withdrew a net $547M in Q1 2020, closing 204 positions and reducing 39 holdings. Its most notable exit was Microsoft, an estimated $18.6M position sold in full.

By sector, the portfolio is most concentrated in Financials at 4.8% of assets, up from 2.8% a quarter earlier, followed by Consumer Discretionary and Consumer Staples.

Against the trend, K2 Principal Fund opened a new position in Norbord Inc. worth $4.42M.

  • K2 Principal Fund's largest Q1 2020 buy was Norbord Inc.: 265,500 shares worth $4.42M.
  • K2 Principal Fund added most to Microvast in Q1 2020, an estimated $9.63M increase.
  • K2 Principal Fund's biggest Q1 2020 reduction was Visa, cutting an estimated $12M.
  • K2 Principal Fund fully exited Microsoft in Q1 2020, selling an estimated $18.6M.
  • K2 Principal Fund's ten largest holdings make up 25% of its $528M portfolio in Q1 2020.
  • K2 Principal Fund opened 135 new positions and closed 204 in Q1 2020.
  • K2 Principal Fund's portfolio value fell 54% quarter-over-quarter to $528M.

Based on K2 Principal Fund's 13F filing for Q1 2020, filed 15 May 2020.