K2 Principal Fund

K2 Principal Fund as of March 31, 2016

Portfolio Holdings for K2 Principal Fund

K2 Principal Fund holds 178 positions in its portfolio as reported in the March 2016 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
PowerShares QQQ Trust, Series 1 13.2 $97M 887k 109.20
Alphabet Inc Class A cs (GOOGL) 5.3 $39M 51k 762.96
Proshares Tr Ii ul djubsnatg 5.0 $37M 185k 197.79
Financial Select Sector SPDR (XLF) 3.1 $23M 1.0M 22.50
Cameron International Corporation 3.0 $22M 333k 67.05
Time Warner Cable 2.6 $19M 92k 204.62
Market Vectors Semiconductor E 2.2 $16M 290k 55.08
Jarden Corporation 2.2 $16M 270k 58.95
Paypal Holdings (PYPL) 1.9 $14M 355k 38.60
Yahoo! 1.9 $14M 369k 36.81
Spdr S&p 500 Etf (SPY) 1.8 $13M 65k 205.51
New York Reit 1.8 $13M 1.3M 10.12
Youku 1.8 $13M 475k 27.49
iShares FTSE/Xinhua China 25 Index (FXI) 1.7 $12M 362k 33.77
Cypress Semiconductor Corporation 1.6 $12M 1.4M 8.66
Tesla Motors (TSLA) 1.5 $11M 49k 229.77
Mylan Nv 1.4 $11M 228k 46.36
Ingram Micro 1.4 $10M 285k 35.91
Columbia Pipeline 1.4 $10M 402k 25.10
Alere 1.4 $10M 199k 50.61
Allergan 1.3 $9.2M 34k 268.03
Harmony Merger 1.2 $8.9M 900k 9.90
Nxp Semiconductors N V (NXPI) 1.2 $8.6M 106k 81.05
ShoreTel 1.1 $8.4M 1.1M 7.44
Macy's (M) 1.1 $8.2M 186k 44.09
Starwood Hotels & Resorts Worldwide 1.1 $8.0M 96k 83.43
Microsoft Corporation (MSFT) 1.1 $7.7M 139k 55.23
Silver Wheaton Corp 1.0 $7.5M 449k 16.60
Silver Run Acquisition Corp unit 99/99/9999t 1.0 $7.2M 700k 10.35
Apple (AAPL) 0.9 $6.8M 62k 108.99
American Capital 0.9 $6.7M 441k 15.24
Cleco Corporation 0.9 $6.7M 122k 55.21
Direxion Daily Small Cp Bull 3X (TNA) 0.9 $6.3M 108k 58.01
Harmony Merger Corp unit 99/99/9999 0.8 $6.2M 600k 10.25
Sears Holdings Corporation 0.8 $6.1M 395k 15.31
Pinnacle Entertainment 0.8 $5.9M 169k 35.10
iShares Silver Trust (SLV) 0.7 $5.3M 360k 14.68
Klr Energy Acquisition Corp cl a 0.7 $5.0M 500k 9.95
Fairchild Semiconductor International 0.7 $4.9M 245k 20.00
Ihs 0.7 $4.7M 38k 124.15
Gilead Sciences (GILD) 0.6 $4.4M 48k 91.81
Phoenix Cos 0.6 $4.0M 110k 36.84
Marvell Technology Group 0.5 $3.9M 377k 10.31
Anchor Bancorp Wisconsin 0.5 $3.7M 83k 45.07
Proshares Tr ultrapro qqq (TQQQ) 0.5 $3.6M 36k 102.39
Marriott International (MAR) 0.5 $3.6M 50k 71.17
Poly 0.5 $3.4M 300k 11.16
Cummins (CMI) 0.5 $3.3M 30k 109.95
BGC Partners 0.5 $3.3M 368k 9.05
Electrum Spl Acquisition Cor 0.4 $3.2M 331k 9.65
Texas Instruments Incorporated (TXN) 0.4 $3.2M 56k 57.41
Amer (UHAL) 0.4 $3.1M 8.6k 357.27
Coeur d'Alene Mines Corporation (CDE) 0.4 $3.0M 542k 5.62
Direxion Shs Etf Tr oil gas bear3x 0.4 $3.1M 244k 12.58
Bank of the Ozarks 0.4 $2.9M 69k 41.99
Double Eagle Acquisition Cor 0.4 $3.0M 306k 9.66
Western Digital (WDC) 0.4 $2.9M 61k 47.25
Biotie Therapies Corp. ads 0.4 $2.9M 109k 26.39
American Express Company (AXP) 0.4 $2.8M 45k 61.40
Cablevision Systems Corporation 0.4 $2.7M 83k 33.00
Penn National Gaming (PENN) 0.4 $2.6M 157k 16.69
Technology SPDR (XLK) 0.4 $2.7M 60k 44.37
Qihoo 360 Technologies Co Lt 0.4 $2.7M 35k 75.55
Direxion Daily Gold Miners Bull 3x Shares etf 0.4 $2.7M 46k 58.55
Gp Invts Acquisition Cor 0.4 $2.6M 270k 9.72
Csra 0.4 $2.6M 99k 26.90
SPDR Barclays Capital High Yield B 0.3 $2.5M 74k 34.26
Adt 0.3 $2.5M 60k 41.26
Baker Hughes Incorporated 0.3 $2.4M 55k 43.83
iShares S&P Latin America 40 Index (ILF) 0.3 $2.4M 94k 25.15
International Game Technology (IGT) 0.3 $2.3M 128k 18.27
Spdr Short-term High Yield mf (SJNK) 0.3 $2.2M 86k 25.83
Alphabet Inc Class C cs (GOOG) 0.3 $2.2M 3.0k 745.00
Heartland Payment Systems 0.3 $2.0M 21k 96.56
Citigroup (C) 0.3 $2.1M 50k 41.75
Pfizer (PFE) 0.3 $2.0M 67k 29.64
Terrapin 3 Acquisition 0.3 $2.0M 202k 9.90
Quinpario Acquisition Corp 2 0.3 $2.0M 202k 9.78
Baxalta Incorporated 0.3 $2.0M 49k 40.39
PowerSecure International 0.3 $1.9M 100k 18.69
Honeywell International (HON) 0.2 $1.9M 17k 112.07
Novagold Resources Inc Cad (NG) 0.2 $1.8M 358k 5.04
First Niagara Financial 0.2 $1.8M 185k 9.68
C1 Financial 0.2 $1.8M 73k 24.20
Dick's Sporting Goods (DKS) 0.2 $1.7M 36k 46.76
Maxim Integrated Products 0.2 $1.7M 45k 36.79
Xpo Logistics Inc equity (XPO) 0.2 $1.7M 55k 30.71
Devon Energy Corporation (DVN) 0.2 $1.6M 60k 27.44
Wl Ross Hldg 0.2 $1.6M 159k 10.03
Goldman Sachs (GS) 0.2 $1.6M 10k 157.00
Core Laboratories 0.2 $1.6M 14k 112.40
Netflix (NFLX) 0.2 $1.5M 15k 102.20
Under Armour (UAA) 0.2 $1.5M 18k 84.83
Computer Sciences Corporation 0.2 $1.5M 43k 34.40
Louisiana-Pacific Corporation (LPX) 0.2 $1.5M 85k 17.13
Gas Nat 0.2 $1.4M 190k 7.58
Gaming & Leisure Pptys (GLPI) 0.2 $1.5M 48k 30.94
Berkshire Hathaway (BRK.B) 0.2 $1.3M 9.3k 141.92
Eagle Pharmaceuticals (EGRX) 0.2 $1.3M 32k 40.60
Blackstone 0.2 $1.2M 44k 28.05
Boeing Company (BA) 0.2 $1.3M 10k 126.90
Dollar Tree (DLTR) 0.2 $1.2M 15k 82.47
Monarch Financial Holdings 0.2 $1.3M 76k 16.61
Keycorp New pfd 7.75% sr a 0.2 $1.2M 8.9k 130.56
United Technologies Corporation 0.2 $1.2M 12k 100.08
iShares iBoxx $ High Yid Corp Bond (HYG) 0.2 $1.2M 15k 81.67
Syngenta 0.1 $1.1M 14k 82.79
United States Oil Fund 0.1 $1.1M 113k 9.70
Alliance Data Systems Corporation (BFH) 0.1 $1.1M 5.0k 220.00
Garnero Group Acquisition 0.1 $1.1M 112k 9.93
Atlantic Alliance Partner 0.1 $1.1M 103k 10.43
Interval Leisure 0.1 $1.0M 72k 14.44
KKR & Co 0.1 $1.0M 70k 14.69
Blount International 0.1 $969k 97k 9.98
SanDisk Corporation 0.1 $920k 12k 76.12
Ntelos Holdings 0.1 $920k 100k 9.20
Pangaea Logistics Solution L (PANL) 0.1 $961k 493k 1.95
Pace Hldgs Corp cl a 0.1 $933k 99k 9.42
International Paper Company (IP) 0.1 $821k 20k 41.05
SL Green Realty 0.1 $776k 8.0k 97.00
Staples 0.1 $728k 66k 11.03
Iamgold Corp (IAG) 0.1 $723k 329k 2.20
MGM Resorts International. (MGM) 0.1 $643k 30k 21.43
Unisys Corporation (UIS) 0.1 $694k 90k 7.71
Barrick Gold Corp (GOLD) 0.1 $604k 45k 13.57
TJX Companies (TJX) 0.1 $552k 7.0k 78.38
Quad/Graphics (QUAD) 0.1 $559k 43k 12.94
Restaurant Brands Intl Inc Com equity / large cap (QSR) 0.1 $583k 15k 38.87
Direxion Shs Etf Tr daily sm cap bea 0.1 $601k 14k 42.93
Ryder System (R) 0.1 $518k 8.0k 64.75
Atmel Corporation 0.1 $487k 60k 8.12
iShares NASDAQ Biotechnology Index (IBB) 0.1 $522k 2.0k 261.00
Micron Technology (MU) 0.1 $480k 46k 10.48
KLA-Tencor Corporation (KLAC) 0.1 $525k 7.2k 72.88
Vanguard Emerging Markets ETF (VWO) 0.1 $484k 14k 34.57
Talmer Ban 0.1 $549k 30k 18.07
R.R. Donnelley & Sons Company 0.1 $428k 26k 16.40
Rio Tinto (RIO) 0.1 $418k 15k 28.24
ITC Holdings 0.1 $436k 10k 43.60
FelCor Lodging Trust Incorporated 0.1 $410k 50k 8.13
Apollo Investment 0.1 $438k 79k 5.54
Pacific Spl Acquisition Corp 0.1 $412k 41k 10.00
BlackRock (BLK) 0.1 $330k 970.00 340.21
JPMorgan Chase & Co. (JPM) 0.1 $349k 5.9k 59.15
Ares Capital Corporation (ARCC) 0.1 $371k 25k 14.84
Claymore Exchange Trd Fd Tr gugg shippng etf 0.1 $348k 30k 11.60
Dt Asia Invts 0.1 $401k 40k 10.16
Andina Acquisition Corp Ii 0.1 $338k 35k 9.71
Valspar Corporation 0.0 $321k 3.0k 107.00
Magna Intl Inc cl a (MGA) 0.0 $258k 6.0k 43.00
Nexstar Broadcasting (NXST) 0.0 $266k 6.0k 44.33
DiamondRock Hospitality Company (DRH) 0.0 $261k 26k 10.12
Amaya 0.0 $294k 22k 13.36
Waste Connections 0.0 $242k 3.8k 64.48
Newell Rubbermaid (NWL) 0.0 $221k 5.0k 44.20
Southwestern Energy Company (SWN) 0.0 $195k 24k 8.09
Basic Energy Services 0.0 $207k 75k 2.76
Stamps 0.0 $214k 2.0k 106.41
Westport Innovations 0.0 $232k 89k 2.61
Swift Transportation Company 0.0 $186k 10k 18.60
Media Gen 0.0 $220k 14k 16.30
Central Fd Cda Ltd cl a 0.0 $121k 10k 11.97
Wl Ross Holding Corp wrt 0.0 $123k 255k 0.48
Harmony Merger Corp w exp 01/01/202 0.0 $162k 900k 0.18
Arbutus Biopharma (ABUS) 0.0 $123k 30k 4.13
Precision Drilling Corporation 0.0 $42k 10k 4.20
Direxion Shs Etf Tr dly gld min br 0.0 $106k 33k 3.24
Primero Mining Corporation 0.0 $43k 24k 1.81
Just Energy Group 0.0 $83k 14k 5.93
Terrapin 3 Acquisition Corp *w exp 06/27/201 0.0 $69k 230k 0.30
Quinpario Acquisition Corp 2 *w exp 01/01/202 0.0 $42k 200k 0.21
Gp Invts Acquisition Cor unit 99/99/9999 0.0 $99k 10k 9.90
Electrum Spl Acquisition Cor *w exp 99/99/999 0.0 $63k 315k 0.20
Double Eagle Acquisition Cor *w exp 09/16/202 0.0 $62k 295k 0.21
Klr Energy Acquisition Corp w exp 09/16/202 0.0 $95k 500k 0.19
Approach Resources 0.0 $15k 13k 1.20
Gp Invts Acquisition Cor *w exp 99/99/999 0.0 $36k 133k 0.27
Pace Hldgs Corp *w exp 99/99/999 0.0 $30k 99k 0.30