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KPF
K2 Principal Fund Portfolio holdings
AUM
$1.36B
Turnover
47.82%
1-Year Est. Return
25.58%
This Fund
S&P 500
This Quarter Est. Return
+5.86%
1 Year Est. Return
+25.58%
3 Year Est. Return
+76.48%
5 Year Est. Return
+60.09%
10 Year Est. Return
+267.47%
AUM
$1.36B
AUM Growth
-$67.3M
(-4.7%)
Cap. Flow
-$358M
Cap. Flow % of AUM
Cap. Flow %
-26.25%
Top 10 Holdings %
Top 10 Hldgs %
16.11%
Holding
642
New
155
Increased
64
Reduced
82
Closed
152
Avg Time Held
Equity + Options
0.4
years
Top 10 Avg Time Held
Equity + Options
0.2
years
Top 20 Avg Time Held
Equity + Options
0.2
years
Avg Time Held Equity only
0.5
years
Top 10 Avg Time Held Equity only
0.1
years
Top 20 Avg Time Held Equity only
0.1
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
SPDR Gold Trust
GLD
|
+$7.28M |
| 2 |
Colliers International
CIGI
|
+$7.02M |
| 3 |
PennyMac Financial
PFSI
|
+$6.85M |
| 4 |
BorgWarner
BWA
|
+$6.42M |
| 5 |
ATII
Archimedes Tech SPAC Partners II Co
ATII
|
+$4.76M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Lionsgate Studios
LION
|
+$4.97M |
| 2 |
Willow Lane Acquisition Corp II Unit
WLIIU
|
+$4.54M |
| 3 |
WLAC
Willow Lane Acquisition Corp
WLAC
|
+$4.24M |
| 4 |
SVAC
Spring Valley Acquisition Corp III
SVAC
|
+$3.77M |
| 5 |
Algonquin Power & Utilities
AQN
|
+$3.68M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 74.39% |
| 2 | Financials | 11.77% |
| 3 | Technology | 3.11% |
| 4 | Communication Services | 2.29% |
| 5 | Consumer Discretionary | 1.86% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
CALL
SPDR Gold Trust
GLD
$132B
| $54.7M | 4.01% |
148,600
-52,000
| -26% | -$21.5M |
2025 Q1
5 quarters
|
|
|
2
PUT
SPDR Gold Trust
GLD
$132B
| $22.8M | 1.67% |
62,000
-11,000
| -15% | -$4.56M |
2026 Q1
1 quarter
|
|
3
PUT
VanEck Junior Gold Miners ETF
GDXJ
$7.07B
| $19.2M | 1.4% |
195,000
+87,500
| +81% | +$10.1M |
2025 Q3
3 quarters
|
|
|
4
PennyMac Financial
PFSI
$3.35B
| $13.9M | 1.02% |
159,766
+78,764
| +97% | +$6.85M |
2025 Q3
3 quarters
|
|
5
PUT
Global X Copper Miners ETF NEW
COPX
$6.33B
| $13.9M | 1.02% |
180,000
-14,000
| -7% | -$1.17M |
2025 Q4
2 quarters
|
|
6
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$799B
| $11.9M | 0.87% |
15,900
-59,100
| -79% | -$42.8M |
2026 Q1
1 quarter
|
|
|
7
SPDR Gold Trust
GLD
$132B
| $11.9M | 0.87% |
32,180
+17,577
| +120% | +$7.28M |
2026 Q1
1 quarter
|
|
8
CALL
iShares Silver Trust
SLV
$24.2B
| $11.6M | 0.85% |
217,500
-6,900
| -3% | -$457K |
2025 Q1
5 quarters
|
|
9
CALL
Abivax
ABVX
$7.77B
| $11.3M | 0.83% |
85,100
+75,100
| +751% | +$8.5M |
2025 Q4
2 quarters
|
|
10
PUT
Freeport-McMoran
FCX
$88.7B
| $11.1M | 0.81% |
176,400
-29,600
| -14% | -$1.9M |
2025 Q3
3 quarters
|
|
11
PUT
DELISTED
Electronic Arts
EA
| $10.4M | 0.76% |
+50,500
| New | +$10.2M |
2026 Q2
0 quarters
|
|
12
CALL
iShares Core S&P Small-Cap ETF
IJR
$106B
| $9.8M | 0.72% |
+66,000
| New | +$9.06M |
2026 Q2
0 quarters
|
|
13
Alphabet (Google) Class C
GOOG
$3.43T
| $9.46M | 0.69% |
26,773
-6,432
| -19% | -$2.3M |
2025 Q2
4 quarters
|
|
14
SunocoCorp LLC
SUNC
$3.62B
| $8.31M | 0.61% |
122,821
+17,731
| +17% | +$1.16M |
2025 Q4
2 quarters
|
|
|
15
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$799B
| $8.14M | 0.6% |
10,900
-43,800
| -80% | -$31.8M |
2025 Q4
2 quarters
|
|
16
Dauch Corp
DCH
$1.1B
| $7.03M | 0.52% |
1,297,209
+112,291
| +9% | +$682K |
2025 Q3
3 quarters
|
|
|
17
BorgWarner
BWA
$10.6B
| $6.73M | 0.49% |
+101,430
| New | +$6.42M |
2026 Q2
0 quarters
|
|
18
CALL
T1 Energy
TE
$866M
| $6.58M | 0.48% |
694,500
+594,500
| +595% | +$4.23M |
2026 Q1
1 quarter
|
|
|
19
Colliers International
CIGI
$5.27B
| $6.52M | 0.48% |
+69,557
| New | +$7.02M |
2026 Q2
0 quarters
|
|
20
PUT
iShares MSCI EAFE ETF
EFA
$76.7B
| $6.23M | 0.46% |
+60,000
| New | +$6.17M |
2026 Q2
0 quarters
|
|
|
21
CALL
VanEck Junior Gold Miners ETF
GDXJ
$7.07B
| $5.95M | 0.44% |
60,600
-4,400
| -7% | -$510K |
2025 Q3
3 quarters
|
|
22
Applovin
APP
$81.5B
| $5.71M | 0.42% |
11,079
+1,011
| +10% | +$488K |
2025 Q2
4 quarters
|
|
|
ATII
23
DELISTED
Archimedes Tech SPAC Partners II Co
ATII
| $5.67M | 0.42% |
526,227
+438,327
| +499% | +$4.76M |
2025 Q2
4 quarters
|
|
24
First Solar
FSLR
$20.2B
| $5.55M | 0.41% |
23,500
-9,000
| -28% | -$2.11M |
2024 Q4
6 quarters
|
|
25
Cohen Circle Acquisition Corp II
CCII
$359M
| $5.47M | 0.4% |
530,739
+131,539
| +33% | +$1.35M |
2025 Q3
3 quarters
|
|
Similar funds
K2 Principal Fund's Q2 2026 Portfolio in Review
As of Q2 2026, K2 Principal Fund held 642 positions worth $1.36B, down 4.7% from $1.43B the previous quarter. Its ten largest holdings account for 16% of the portfolio.
K2 Principal Fund withdrew a net $358M in Q2 2026, closing 152 positions and reducing 82 holdings. Its most notable exit was Willow Lane Acquisition Corp II Unit, an estimated $4.54M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 74% of assets, down from 80% a quarter earlier, followed by Financials and Technology.
Against the trend, K2 Principal Fund opened a new position in Colliers International worth $6.52M.
- K2 Principal Fund's largest Q2 2026 buy was Colliers International: 69,557 shares worth $6.52M.
- K2 Principal Fund added most to SPDR Gold Trust in Q2 2026, an estimated $7.28M increase.
- K2 Principal Fund's biggest Q2 2026 reduction was Lionsgate Studios, cutting an estimated $4.97M.
- K2 Principal Fund fully exited Willow Lane Acquisition Corp II Unit in Q2 2026, selling an estimated $4.54M.
- K2 Principal Fund's ten largest holdings make up 16% of its $1.36B portfolio in Q2 2026.
- K2 Principal Fund opened 155 new positions and closed 152 in Q2 2026.
- K2 Principal Fund's portfolio value fell 4.7% quarter-over-quarter to $1.36B.
Based on K2 Principal Fund's 13F filing for Q2 2026, filed 7 Aug 2026.