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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
B
201
Barrick Mining
B
$62.6B
$644K 0.08%
+46,999
New +$607K
ROSE
202
DELISTED
Rosehill Resources Inc. Class A
ROSE
$599K 0.08%
195,714
– –
VRNS icon
203
Varonis Systems
VRNS
$5.36B
$596K 0.08%
+30,000
New +$569K
GG
204
PUT
DELISTED
Goldcorp Inc
GG
$596K 0.08%
+52,100
New +$560K
RIO icon
205
PUT
Rio Tinto
RIO
$150B
$589K 0.08%
+10,000
New +$550K
FWONK icon
206
Liberty Media Series C
FWONK
$24.6B
$586K 0.07%
+17,302
New +$542K
IPOA.WS
207
CALL
DELISTED
Social Capital Hedosophia Holdings Corp. Warrants, each whole warrant exercisable for one Class A Or
IPOA.WS
$560K 0.07%
+700,390
New +$562K
EMCI
208
DELISTED
EMC INS Group Inc
EMCI
$549K 0.07%
+17,209
New +$550K
PVG
209
PUT
DELISTED
PRETIUM RESOURCES INC.
PVG
$536K 0.07%
62,600
-107,200
-63% -$852K
MHO icon
210
M/I Homes
MHO
$3.81B
$532K 0.07%
+20,000
New +$521K
THWWW
211
CALL
DELISTED
Target Hospitality Corp. Warrant expiring 3/15/2024
THWWW
$518K 0.07%
+336,175
New +$500K
GMHIU
212
DELISTED
Gores Metropoulos, Inc. Unit
GMHIU
$512K 0.07%
+50,000
New +$509K
BTCT icon
213
BTC Digital
BTCT
$9.6M
$504K 0.06%
+83
New +$495K
CLF icon
214
PUT
Cleveland-Cliffs
CLF
$6.99B
$500K 0.06%
+50,000
New +$500K
WTTR icon
215
Select Water Solutions
WTTR
$2.34B
$500K 0.06%
41,620
-94,621
-69% -$891K
BMY icon
216
CALL
Bristol-Myers Squibb
BMY
$128B
$477K 0.06%
+10,000
New +$498K
BMY icon
217
Bristol-Myers Squibb
BMY
$128B
$477K 0.06%
+10,000
New +$498K
IP icon
218
PUT
International Paper
IP
$22.5B
$463K 0.06%
10,560
-18,480
-64% -$801K
LGF.B
219
DELISTED
Lions Gate Entertainment Corp. Class B Non-Voting Shares
LGF.B
$454K 0.06%
30,053
-135,156
-82% -$2.12M
SSRM icon
220
PUT
SSR Mining
SSRM
$5.45B
$437K 0.06%
+34,500
New +$456K
TZACU
221
DELISTED
Tenzing Acquisition Corp. Units
TZACU
$422K 0.05%
41,258
-333,742
-89% -$3.39M
CLW icon
222
PUT
Clearwater Paper
CLW
$278M
$393K 0.05%
20,200
-114,800
-85% -$3.3M
UA icon
223
Under Armour Class C
UA
$2.95B
$392K 0.05%
+20,800
New +$393K
TPGH.WS
224
CALL
DELISTED
TPG Pace Holdings Corp. Warrants, each exercisable for one Class A Ordinary Share at an exercise pri
TPGH.WS
$390K 0.05%
+290,800
New +$386K
LBRDK icon
225
Liberty Broadband Class C
LBRDK
$4.44B
$385K 0.05%
+4,200
New +$357K
7 8
9
10 11

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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.