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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
+3.76%
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
$1.27B
AUM Growth
+$124M
Cap. Flow
-$50.2M
Cap. Flow %
-3.97%
Top 10 Hldgs %
32.68%
Holding
503
New
191
Increased
39
Reduced
29
Closed
203

Top Buys

Rank Stock Value
1
PRPB
CC Neuberger Principal Holdings II Class A Ordinary Shares
PRPB
+$9.53M
2
SVOK
Seven Oaks Acquisition Corp. Class A Common Stock
SVOK
+$8.94M
3
NOAC
Natural Order Acquisition Corp. Common Stock
NOAC
+$7.93M
4
VWE
Vintage Wine Estates, Inc. Common Stock
VWE
+$7.15M
5
MGLN
Magellan Health Services, Inc.
MGLN
+$5.69M

Top Sells

Rank Stock Value
1
CIXX
CI Financial Corp.
CIXX
+$27M
2
PFSI icon
PennyMac Financial
PFSI
+$18.5M
3
LCID icon
Lucid Motors
LCID
+$13.2M
4
VHAQ.U
Viveon Health Acquisition Corp. Units, each consisting of one share of common stock, one Warrant entitling the holder to purchase one-half of a share of common stock, and one right to receive one-twentieth of a share of common stock
VHAQ.U
+$12.8M
5
NOACU
Natural Order Acquisition Corp. Unit
NOACU
+$10.9M

Sector Composition

Rank Sector Weight
1 Financials 10.19%
2 Healthcare 3.67%
3 Technology 2.91%
4 Real Estate 2.06%
5 Consumer Staples 1.89%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TLT icon
1
CALL
iShares 20+ Year Treasury Bond ETF
TLT
$42.1B
$107M 8.49%
793,400
+787,700
+13,819% +$114M
SPY icon
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$777B
$79.3M 6.26%
200,000
– –
TLT icon
3
PUT
iShares 20+ Year Treasury Bond ETF
TLT
$42.1B
$54M 4.27%
398,800
+167,800
+73% +$24.3M
SPY icon
4
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$777B
$35.7M 2.82%
+90,000
New +$34.7M
TSLA icon
5
PUT
Tesla
TSLA
$1.2T
$33.4M 2.64%
+150,000
New +$37.7M
PFSI icon
6
PennyMac Financial
PFSI
$4.29B
$29M 2.29%
433,289
-298,757
-41% -$18.5M
GLD icon
7
PUT
SPDR Gold Trust
GLD
$130B
$20.8M 1.64%
130,000
+30,000
+30% +$5.04M
IGV icon
8
PUT
iShares Expanded Tech-Software Sector ETF
IGV
$12.9B
$20.5M 1.62%
+300,000
New +$21.3M
VOO icon
9
CALL
Vanguard S&P 500 ETF
VOO
$967B
$18.2M 1.44%
+50,000
New +$17.7M
PTON icon
10
PUT
Peloton Interactive
PTON
$2.61B
$15.2M 1.2%
135,600
+133,600
+6,680% +$17.7M
ARKK icon
11
PUT
ARK Innovation ETF
ARKK
$6.05B
$14.4M 1.14%
120,000
+118,000
+5,900% +$16M
SMH icon
12
PUT
VanEck Semiconductor ETF
SMH
$69.8B
$14.1M 1.12%
116,000
+1,000
+0.9% +$118K
HHH icon
13
Howard Hughes
HHH
$3.92B
$11.8M 0.93%
129,875
+52,368
+68% +$4.61M
RNG icon
14
PUT
RingCentral
RNG
$3.24B
$11.7M 0.93%
39,400
-155,800
-80% -$57.3M
STX icon
15
CALL
Seagate
STX
$207B
$10.9M 0.86%
142,500
+92,500
+185% +$6.44M
PLNT icon
16
PUT
Planet Fitness
PLNT
$4.29B
$10.3M 0.81%
132,600
-312,600
-70% -$24.8M
VAR
17
DELISTED
Varian Medical Systems, Inc.
VAR
$9.52M 0.75%
53,907
+29,137
+118% +$5.13M
SKIN icon
18
SkinHealth Systems
SKIN
$95.9M
$8.97M 0.71%
830,648
+309,027
+59% +$3.4M
PRPB
19
DELISTED
CC Neuberger Principal Holdings II Class A Ordinary Shares
PRPB
$8.96M 0.71%
+909,258
New +$9.53M
NWL icon
20
CALL
Newell Brands
NWL
$2.14B
$8.84M 0.7%
330,000
+130,000
+65% +$3.22M
SVOK
21
DELISTED
Seven Oaks Acquisition Corp. Class A Common Stock
SVOK
$8.66M 0.68%
+888,206
New +$8.94M
EMB icon
22
PUT
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$14.9B
$8.17M 0.65%
+75,000
New +$8.38M
NOAC
23
DELISTED
Natural Order Acquisition Corp. Common Stock
NOAC
$7.35M 0.58%
+751,641
New +$7.93M
WTW icon
24
Willis Towers Watson
WTW
$27.2B
$7.32M 0.58%
32,000
+13,323
+71% +$2.9M
RNG icon
25
CALL
RingCentral
RNG
$3.24B
$7.15M 0.56%
24,000
-14,000
-37% -$5.15M
1
2 3 4 5

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SC
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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 2021 Portfolio in Review

As of Q1 2021, K2 Principal Fund held 503 positions worth $1.27B, up 11% from $1.14B the previous quarter. Its ten largest holdings account for 33% of the portfolio.

K2 Principal Fund withdrew a net $50.2M in Q1 2021, closing 203 positions and reducing 29 holdings. Its most notable exit was Lucid Motors, an estimated $13.2M position sold in full.

By sector, the portfolio is most concentrated in Financials at 10% of assets, down from 11% a quarter earlier, followed by Healthcare and Technology.

Against the trend, K2 Principal Fund opened a new position in CC Neuberger Principal Holdings II Class A Ordinary Shares worth $8.96M.

  • K2 Principal Fund's largest Q1 2021 buy was CC Neuberger Principal Holdings II Class A Ordinary Shares: 909,258 shares worth $8.96M.
  • K2 Principal Fund added most to Varian Medical Systems, Inc. in Q1 2021, an estimated $5.13M increase.
  • K2 Principal Fund's biggest Q1 2021 reduction was CI Financial Corp., cutting an estimated $27M.
  • K2 Principal Fund fully exited Lucid Motors in Q1 2021, selling an estimated $13.2M.
  • K2 Principal Fund's ten largest holdings make up 33% of its $1.27B portfolio in Q1 2021.
  • K2 Principal Fund opened 191 new positions and closed 203 in Q1 2021.
  • K2 Principal Fund's portfolio value rose 11% quarter-over-quarter to $1.27B.

Based on K2 Principal Fund's 13F filing for Q1 2021, filed 14 May 2021.