I had a hard time figuring this out myself but just got it finally. You have to access your Collection View's collectionViewLayout property and then use the collectionViewContentSize method to get the size of your content. You can then use those to resize your Collection View by setting it's frame.
CGRect rectangle;
rectangle = _collectionView.frame;
rectangle.size = [_collectionView.collectionViewLayout collectionViewContentSize];
_collectionView.frame = rectangle;
Now that your collection view is sized to it's content, you can set the popOver's size based on the collection view size. It may look something like this.
popOver.frame = _collectionView.frame;
or
[popOver sizeToFit];