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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
+8.26%
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
$785M
AUM Growth
+$125M
Cap. Flow
+$25.3M
Cap. Flow %
3.23%
Top 10 Hldgs %
19.97%
Holding
445
New
157
Increased
40
Reduced
37
Closed
159

Top Buys

Rank Stock Value
1
THCBU
Tuscan Holdings Corp. Unit
THCBU
+$16.8M
2
TRNE.U
Trine Acquisition Corp. Units, each consisting of one share of Class A Common Stock and one-half of
TRNE.U
+$8.01M
3
INSUU
Insurance Acquisition Corp. Unit
INSUU
+$7.07M
4
LVOXU
LiveVox Holding, Inc. Unit
LVOXU
+$6.99M
5
STNL
Sentinel Energy Services Inc. Class A Common Stock
STNL
+$6.89M

Top Sells

Rank Stock Value
1
FSAC
Federal Street Acquisition Corp. Common Stock
FSAC
+$11.1M
2
GOOG icon
Alphabet (Google) Class C
GOOG
+$10M
3
DMTK
DermTech, Inc. Common Stock
DMTK
+$6.52M
4
DNB
Dun & Bradstreet
DNB
+$6.4M
5
HYACU
Haymaker Acquisition Corp. Unit
HYACU
+$6.35M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 6.99%
2 Technology 6.48%
3 Industrials 4.82%
4 Communication Services 4.36%
5 Financials 3.21%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NESRW
176
CALL
DELISTED
National Energy Services Reunited Corp. Warrant
NESRW
$985K 0.13%
+863,981
New +$815K
PAYA
177
DELISTED
Paya Holdings Inc. Class A Common Stock
PAYA
$975K 0.12%
+100,000
New +$971K
CY
178
CALL
DELISTED
Cypress Semiconductor
CY
$970K 0.12%
+65,000
New +$943K
BROGU
179
DELISTED
Twelve Seas Investment Company Units
BROGU
$928K 0.12%
88,800
-49,900
-36% -$519K
IMDZ
180
DELISTED
Immune Design Corp.
IMDZ
$926K 0.12%
+158,255
New +$539K
TOL icon
181
Toll Brothers
TOL
$14.1B
$919K 0.12%
+25,400
New +$913K
SUM
182
DELISTED
Summit Materials, Inc. Class A Common Stock
SUM
$905K 0.12%
+57,970
New +$906K
WCN
183
PUT
Waste Connections
WCN
$42.7B
$886K 0.11%
+10,000
New +$824K
NITE
184
DELISTED
Nightstar Therapeutics plc American Depositary Shares
NITE
$870K 0.11%
+34,275
New +$606K
BATRK icon
185
Atlanta Braves Holdings Series B
BATRK
$3.25B
$868K 0.11%
31,263
-10,637
-25% -$292K
IIPR icon
186
CALL
Innovative Industrial Properties
IIPR
$1.78B
$833K 0.11%
+10,200
New +$690K
EBAY icon
187
PUT
eBay
EBAY
$50.3B
$780K 0.1%
+21,000
New +$729K
PHM icon
188
Pultegroup
PHM
$24.9B
$769K 0.1%
+27,500
New +$749K
RPAY icon
189
Repay Holdings
RPAY
$335M
$765K 0.1%
+75,000
New +$756K
VNOM icon
190
Viper Energy
VNOM
$8.4B
$763K 0.1%
23,002
– –
SCAC
191
DELISTED
Saban Capital Acquisition Corp. Class A Ordinary Share
SCAC
$763K 0.1%
74,215
-576,737
-89% -$5.9M
RVPH
192
DELISTED
REVIVA PHARMA HLDGS INC
RVPH
$755K 0.1%
+3,750
New +$752K
LSEA
193
DELISTED
Landsea Homes
LSEA
$754K 0.1%
75,000
– –
ALAC
194
DELISTED
Alberton Acquisition Corp
ALAC
$746K 0.1%
+75,000
New +$741K
TTCF
195
DELISTED
Tattooed Chef, Inc Class A Common Stock
TTCF
$743K 0.09%
+75,000
New +$738K
LSCC icon
196
Lattice Semiconductor
LSCC
$16.8B
$730K 0.09%
61,196
-60,229
-50% -$601K
ECHO
197
PUT
EchoStar
ECHO
$25.1B
$729K 0.09%
+24,680
New +$778K
BHBK
198
DELISTED
Blue Hills Bancorp, Inc.
BHBK
$712K 0.09%
29,807
-5,193
-15% -$122K
CELG
199
PUT
DELISTED
Celgene Corp
CELG
$708K 0.09%
+7,500
New +$656K
B
200
CALL
Barrick Mining
B
$62.6B
$686K 0.09%
+50,000
New +$646K
6 7
8
9 10

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LCG
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K2 Principal Fund's Q1 2019 Portfolio in Review

As of Q1 2019, K2 Principal Fund held 445 positions worth $785M, up 19% from $659M the previous quarter. Its ten largest holdings account for 20% of the portfolio.

K2 Principal Fund deployed $25.3M of net new capital in Q1 2019, opening 157 new positions and adding to 40 existing holdings. Its largest new stake was Tuscan Holdings Corp. Unit: 1,650,000 shares worth $17.2M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 7% of assets, up from 4.5% a quarter earlier, followed by Technology and Industrials.

On the sell side, the largest reduction was Saban Capital Acquisition Corp. Class A Ordinary Share, an estimated $5.9M trimmed.

  • K2 Principal Fund's largest Q1 2019 buy was Tuscan Holdings Corp. Unit: 1,650,000 shares worth $17.2M.
  • K2 Principal Fund added most to Sentinel Energy Services Inc. Class A Common Stock in Q1 2019, an estimated $6.89M increase.
  • K2 Principal Fund's biggest Q1 2019 reduction was Saban Capital Acquisition Corp. Class A Ordinary Share, cutting an estimated $5.9M.
  • K2 Principal Fund fully exited Federal Street Acquisition Corp. Common Stock in Q1 2019, selling an estimated $11.1M.
  • K2 Principal Fund's ten largest holdings make up 20% of its $785M portfolio in Q1 2019.
  • K2 Principal Fund opened 157 new positions and closed 159 in Q1 2019.
  • K2 Principal Fund's portfolio value rose 19% quarter-over-quarter to $785M.

Based on K2 Principal Fund's 13F filing for Q1 2019, filed 14 May 2019.