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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
+6.61%
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
$669M
AUM Growth
+$39.7M
Cap. Flow
-$77.2M
Cap. Flow %
-11.54%
Top 10 Hldgs %
20.07%
Holding
361
New
109
Increased
44
Reduced
41
Closed
118

Top Buys

Rank Stock Value
1
PFSI icon
PennyMac Financial
PFSI
+$14.1M
2
PRPB.U
CC Neuberger Principal Holdings II
PRPB.U
+$9.95M
3
FGNA.U
FG New America Acquisition Corp. Units, each consisting of one share of Class A common stock and one
FGNA.U
+$8.34M
4
WPF
Foley Trasimene Acquisition Corp.
WPF
+$7.22M
5
CCIV.U
Churchill Capital Corp IV Units, each consisting of one share of Class A common stock and one-fifth
CCIV.U
+$7.06M

Top Sells

Rank Stock Value
1
GB
Global Blue Group Holding
GB
+$13.5M
2
CFFAU
CF Finance Acquisition Corp. Unit
CFFAU
+$10.5M
3
PAYA
Paya Holdings Inc. Class A Common Stock
PAYA
+$9.71M
4
FSR
Fisker Inc.
FSR
+$7.79M
5
OPEN icon
Opendoor
OPEN
+$6.16M

Sector Composition

Rank Sector Weight
1 Financials 9.57%
2 Technology 6%
3 Consumer Discretionary 4.46%
4 Consumer Staples 3.65%
5 Healthcare 3.57%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PFSI icon
1
PennyMac Financial
PFSI
$4.29B
$30.3M 4.53%
520,844
+284,235
+120% +$14.1M
IGV icon
2
PUT
iShares Expanded Tech-Software Sector ETF
IGV
$12.9B
$16.2M 2.42%
260,000
+235,000
+940% +$14.1M
ITB icon
3
PUT
iShares US Home Construction ETF
ITB
$2.35B
$11.9M 1.78%
210,000
+10,000
+5% +$523K
QCOM icon
4
CALL
Qualcomm
QCOM
$180B
$11.8M 1.76%
100,000
+75,000
+300% +$8.01M
BG icon
5
Bunge Global
BG
$23.7B
$11.2M 1.67%
245,000
+70,000
+40% +$3.13M
INTC icon
6
CALL
Intel
INTC
$504B
$10.4M 1.55%
+200,000
New +$10.4M
SKIL icon
7
Skillsoft
SKIL
$55.8M
$10.2M 1.53%
48,445
+6,346
+15% +$1.37M
MVST icon
8
Microvast
MVST
$287M
$10.2M 1.52%
998,608
-50,000
-5% -$509K
PRPB.U
9
DELISTED
CC Neuberger Principal Holdings II
PRPB.U
$10.1M 1.51%
+976,880
New +$9.95M
APXTU
10
DELISTED
Apex Technology Acquisition Corporation Unit
APXTU
$9.03M 1.35%
777,410
– –
OSB
11
DELISTED
Norbord Inc.
OSB
$8.77M 1.31%
222,800
+71,724
+47% +$2.24M
SMH icon
12
PUT
VanEck Semiconductor ETF
SMH
$69.8B
$8.71M 1.3%
100,000
-480,000
-83% -$40.2M
BKI
13
PUT
DELISTED
Black Knight, Inc. Common Stock
BKI
$8.44M 1.26%
97,000
+85,500
+743% +$6.73M
FGNA.U
14
DELISTED
FG New America Acquisition Corp. Units, each consisting of one share of Class A common stock and one
FGNA.U
$8.34M 1.25%
+832,770
New +$8.34M
EOSE icon
15
Eos Energy Enterprises
EOSE
$1.32B
$7.79M 1.17%
778,600
+278,600
+56% +$2.88M
THCA
16
DELISTED
Tuscan Holdings Corp. II Common Stock
THCA
$7.73M 1.16%
774,411
-350,000
-31% -$3.5M
WY icon
17
CALL
Weyerhaeuser
WY
$17B
$7.56M 1.13%
265,100
+190,100
+253% +$5.22M
WPF
18
DELISTED
Foley Trasimene Acquisition Corp.
WPF
$7.26M 1.09%
+700,616
New +$7.22M
MX icon
19
Magnachip Semiconductor
MX
$133M
$7.19M 1.07%
524,753
+211,420
+67% +$2.52M
CCIV.U
20
DELISTED
Churchill Capital Corp IV Units, each consisting of one share of Class A common stock and one-fifth
CCIV.U
$7.07M 1.06%
+705,708
New +$7.06M
PFPT
21
DELISTED
Proofpoint, Inc.
PFPT
$6.75M 1.01%
64,000
-11,000
-15% -$1.23M
GCMG icon
22
GCM Grosvenor
GCMG
$712M
$6.51M 0.97%
625,864
-41,696
-6% -$441K
ADV icon
23
Advantage Solutions
ADV
$449M
$6.1M 0.91%
+24,000
New +$6.49M
LOTZ
24
DELISTED
CarLotz, Inc. Class A Common Stock
LOTZ
$5.99M 0.9%
+586,379
New +$6.01M
SRACU
25
DELISTED
Stable Road Acquisition Corp. Unit
SRACU
$5.89M 0.88%
561,120
– –
1
2 3 4 5

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K2 Principal Fund's Q3 2020 Portfolio in Review

As of Q3 2020, K2 Principal Fund held 361 positions worth $669M, up 6.3% from $629M the previous quarter. Its ten largest holdings account for 20% of the portfolio.

K2 Principal Fund withdrew a net $77.2M in Q3 2020, closing 118 positions and reducing 41 holdings. Its most notable exit was Global Blue Group Holding, an estimated $13.5M position sold in full.

By sector, the portfolio is most concentrated in Financials at 9.6% of assets, up from 6.9% a quarter earlier, followed by Technology and Consumer Discretionary.

Against the trend, K2 Principal Fund opened a new position in CC Neuberger Principal Holdings II worth $10.1M.

  • K2 Principal Fund's largest Q3 2020 buy was CC Neuberger Principal Holdings II: 976,880 shares worth $10.1M.
  • K2 Principal Fund added most to PennyMac Financial in Q3 2020, an estimated $14.1M increase.
  • K2 Principal Fund's biggest Q3 2020 reduction was Tuscan Holdings Corp. II Common Stock, cutting an estimated $3.5M.
  • K2 Principal Fund fully exited Global Blue Group Holding in Q3 2020, selling an estimated $13.5M.
  • K2 Principal Fund's ten largest holdings make up 20% of its $669M portfolio in Q3 2020.
  • K2 Principal Fund opened 109 new positions and closed 118 in Q3 2020.
  • K2 Principal Fund's portfolio value rose 6.3% quarter-over-quarter to $669M.

Based on K2 Principal Fund's 13F filing for Q3 2020, filed 13 Nov 2020.