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KPF

K2 Principal Fund Portfolio holdings

AUM $1.36B
1-Year Est. Return 25.57%
This Fund
S&P 500
This Quarter Est. Return
+0.3%
1 Year Est. Return
+25.57%
3 Year Est. Return
+75.5%
5 Year Est. Return
+59.21%
10 Year Est. Return
+265.44%
AUM
$788M
AUM Growth
-$112M
Cap. Flow
-$447M
Cap. Flow %
-56.71%
Top 10 Hldgs %
19.01%
Holding
417
New
101
Increased
38
Reduced
59
Closed
100

Top Buys

Rank Stock Value
1
GLD icon
SPDR Gold Trust
GLD
+$14.3M
2
HVII
Hennessy Capital Investment Corp VII
HVII
+$10.3M
3
SPRY icon
ARS Pharmaceuticals
SPRY
+$5.84M
4
FSLR icon
First Solar
FSLR
+$5.33M
5
CEPO
Cantor Equity Partners I
CEPO
+$3.66M

Top Sells

Rank Stock Value
1
IAU icon
iShares Gold Trust
IAU
+$12.4M
2
DYNC
Dynamix Corp
DYNC
+$8.17M
3
GOOG icon
Alphabet (Google) Class C
GOOG
+$7.7M
4
MLACU
Mountain Lake Acquisition Corp Units
MLACU
+$7.51M
5
TDACU
Translational Development Acquisition Corp Units
TDACU
+$6.76M

Sector Composition

Rank Sector Weight
1 Financials 6.07%
2 Energy 2.45%
3 Technology 2.17%
4 Healthcare 1.15%
5 Real Estate 1.15%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DIS icon
251
CALL
Walt Disney
DIS
$178B
– –
-5,000
Closed -$557K
DOCU
252
PUT
DocuSign
DOCU
$11.4B
– –
-20,000
Closed -$1.8M
ECAT icon
253
BlackRock ESG Capital Allocation Term Trust
ECAT
$1.57B
– –
-11,382
Closed -$187K
EQX icon
254
Equinox Gold
EQX
$13.5B
– –
-70,000
Closed -$351K
EQX icon
255
PUT
Equinox Gold
EQX
$13.5B
– –
-150,000
Closed -$753K
FCX icon
256
PUT
Freeport-McMoran
FCX
$98.7B
– –
-65,000
Closed -$2.48M
GAU
257
PUT
Galiano Gold
GAU
$522M
– –
-42,700
Closed -$52.5K
GD icon
258
PUT
General Dynamics
GD
$107B
– –
-5,000
Closed -$1.32M
GENI icon
259
Genius Sports
GENI
$2.1B
– –
-200,000
Closed -$1.73M
GOOG icon
260
Alphabet (Google) Class C
GOOG
$4.35T
– –
-42,053
Closed -$7.7M
GOOS
261
CALL
Canada Goose Holdings
GOOS
$849M
– –
-50,000
Closed -$502K
HLF icon
262
Herbalife
HLF
$1.21B
– –
-60,000
Closed -$401K
IAU icon
263
iShares Gold Trust
IAU
$65.1B
– –
-250,000
Closed -$12.4M
JETS icon
264
PUT
US Global Jets ETF
JETS
$821M
– –
-50,000
Closed -$1.27M
KD icon
265
CALL
Kyndryl
KD
$2.97B
– –
-70,000
Closed -$2.42M
KTOS icon
266
Kratos Defense & Security Solutions
KTOS
$11.7B
– –
-30,000
Closed -$791K
LMT icon
267
PUT
Lockheed Martin
LMT
$139B
– –
-5,000
Closed -$2.43M
LOW icon
268
PUT
Lowe's Companies
LOW
$123B
– –
-17,000
Closed -$4.2M
LYFT icon
269
PUT
Lyft
LYFT
$6.53B
– –
-23,000
Closed -$297K
MED icon
270
PUT
Medifast
MED
$135M
– –
-50,000
Closed -$881K
MODV
271
CALL
DELISTED
ModivCare
MODV
– –
-68,500
Closed -$811K
MRVL icon
272
Marvell Technology
MRVL
$187B
– –
-15,946
Closed -$1.76M
MTUM icon
273
PUT
iShares MSCI USA Momentum Factor ETF
MTUM
$25.4B
– –
-30,000
Closed -$6.21M
NAK
274
CALL
Northern Dynasty Minerals
NAK
$953M
– –
-150,000
Closed -$87K
NAVI icon
275
PUT
Navient
NAVI
$796M
– –
-25,000
Closed -$332K
9 10
11
12 13

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DC
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FC
FORA Capital Miami, Florida $1.36B AUM 56.1% 1-Year Est. Return
QF
QVT Financial New York $1.37B AUM 148.1% 1-Year Est. Return
KRS
Kentucky Retirement Systems Frankfort, Kentucky $1.37B AUM 33.36% 1-Year Est. Return
AF
Aquamarine Financial George Town $1.37B AUM
PP
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CRM
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K2 Principal Fund's Q1 2025 Portfolio in Review

As of Q1 2025, K2 Principal Fund held 417 positions worth $788M, down 12% from $901M the previous quarter. Its ten largest holdings account for 19% of the portfolio.

K2 Principal Fund withdrew a net $447M in Q1 2025, closing 100 positions and reducing 59 holdings. Its most notable exit was iShares Gold Trust, an estimated $12.4M position sold in full.

By sector, the portfolio is most concentrated in Financials at 6.1% of assets, up from 4.7% a quarter earlier, followed by Energy and Technology.

Against the trend, K2 Principal Fund opened a new position in Hennessy Capital Investment Corp VII worth $10.4M.

  • K2 Principal Fund's largest Q1 2025 buy was Hennessy Capital Investment Corp VII: 1,049,683 shares worth $10.4M.
  • K2 Principal Fund added most to SPDR Gold Trust in Q1 2025, an estimated $14.3M increase.
  • K2 Principal Fund's biggest Q1 2025 reduction was Dynamix Corp, cutting an estimated $8.17M.
  • K2 Principal Fund fully exited iShares Gold Trust in Q1 2025, selling an estimated $12.4M.
  • K2 Principal Fund's ten largest holdings make up 19% of its $788M portfolio in Q1 2025.
  • K2 Principal Fund opened 101 new positions and closed 100 in Q1 2025.
  • K2 Principal Fund's portfolio value fell 12% quarter-over-quarter to $788M.

Based on K2 Principal Fund's 13F filing for Q1 2025, filed 15 May 2025.