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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
+8.64%
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
$725M
AUM Growth
-$63M
Cap. Flow
-$143M
Cap. Flow %
-19.72%
Top 10 Hldgs %
22.96%
Holding
394
New
118
Increased
38
Reduced
57
Closed
98

Top Buys

Rank Stock Value
1
MAG
MAG Silver
MAG
+$5.72M
2
GTEN
Gores Holdings X
GTEN
+$3.99M
3
JNPR
Juniper Networks
JNPR
+$3.58M
4
RAC
Rithm Acquisition Corp
RAC
+$3.5M
5
CORZ icon
Core Scientific
CORZ
+$3.47M

Top Sells

Rank Stock Value
1
GLD icon
SPDR Gold Trust
GLD
+$16.8M
2
HVII
Hennessy Capital Investment Corp VII
HVII
+$5.97M
3
SEI
Solaris Energy Infrastructure
SEI
+$5.9M
4
RAC.U
Rithm Acquisition Corp Units
RAC.U
+$3.54M
5
SVCC
Stellar V Capital Corp
SVCC
+$3.4M

Sector Composition

Rank Sector Weight
1 Financials 11.62%
2 Technology 4.89%
3 Consumer Discretionary 1.89%
4 Energy 1.63%
5 Communication Services 1.35%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DOO
276
PUT
Bombardier Recreational Products
DOO
$4.7B
– –
-80,000
Closed -$2.7M
FNV icon
277
CALL
Franco-Nevada
FNV
$46.5B
– –
-17,500
Closed -$2.76M
FNV icon
278
Franco-Nevada
FNV
$46.5B
– –
-12,000
Closed -$1.89M
FWRD icon
279
CALL
Forward Air
FWRD
$634M
– –
-10,000
Closed -$201K
GOOG icon
280
CALL
Alphabet (Google) Class C
GOOG
$4.35T
– –
-92,000
Closed -$14.4M
GRND icon
281
PUT
Grindr
GRND
$2.91B
– –
-80,000
Closed -$1.43M
HCC icon
282
CALL
Warrior Met Coal
HCC
$5.04B
– –
-25,000
Closed -$1.19M
HIMS icon
283
PUT
Hims & Hers Health
HIMS
$7.35B
– –
-20,000
Closed -$591K
IONQ icon
284
PUT
IonQ
IONQ
$15.9B
– –
-200,000
Closed -$4.41M
ITOS
285
CALL
DELISTED
iTeos Therapeutics
ITOS
– –
-120,500
Closed -$719K
ITOS
286
DELISTED
iTeos Therapeutics
ITOS
– –
-29,178
Closed -$174K
KEYS icon
287
Keysight
KEYS
$57.3B
– –
-6,755
Closed -$1.01M
KGC icon
288
Kinross Gold
KGC
$32.5B
– –
-33,000
Closed -$416K
MGA icon
289
CALL
Magna International
MGA
$18.7B
– –
-40,000
Closed -$1.36M
MODV
290
PUT
DELISTED
ModivCare
MODV
– –
-30,000
Closed -$39.6K
NHI icon
291
National Health Investors
NHI
$3.59B
– –
-8,000
Closed -$591K
NPWR icon
292
NET Power
NPWR
$139M
– –
-43,125
Closed -$113K
NXPI icon
293
NXP Semiconductors
NXPI
$58.9B
– –
-5,120
Closed -$973K
OMC icon
294
PUT
Omnicom Group
OMC
$23.2B
– –
-37,000
Closed -$3.07M
OPFI.WS
295
DELISTED
OppFi Inc Warrants
OPFI.WS
– –
-18,799
Closed -$41K
PAR icon
296
PAR Technology
PAR
$751M
– –
-12,648
Closed -$776K
PATH icon
297
CALL
UiPath
PATH
$8.08B
– –
-40,000
Closed -$412K
PEP icon
298
PUT
PepsiCo
PEP
$188B
– –
-10,000
Closed -$1.5M
PPTA
299
Perpetua Resources
PPTA
$3.11B
– –
-142,901
Closed -$1.53M
PTA icon
300
Cohen & Steers Tax-Advantaged Preferred Securities & Income Fund
PTA
$1.05B
– –
-11,967
Closed -$233K
10 11
12
13 14

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QF
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KRS
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CRM
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K2 Principal Fund's Q2 2025 Portfolio in Review

As of Q2 2025, K2 Principal Fund held 394 positions worth $725M, down 8% from $788M the previous quarter. Its ten largest holdings account for 23% of the portfolio.

K2 Principal Fund withdrew a net $143M in Q2 2025, closing 98 positions and reducing 57 holdings. Its most notable exit was Solaris Energy Infrastructure, an estimated $5.9M position sold in full.

By sector, the portfolio is most concentrated in Financials at 12% of assets, up from 6.1% a quarter earlier, followed by Technology and Consumer Discretionary.

Against the trend, K2 Principal Fund opened a new position in MAG Silver worth $6.8M.

  • K2 Principal Fund's largest Q2 2025 buy was MAG Silver: 321,870 shares worth $6.8M.
  • K2 Principal Fund added most to Kodiak AI in Q2 2025, an estimated $2.97M increase.
  • K2 Principal Fund's biggest Q2 2025 reduction was SPDR Gold Trust, cutting an estimated $16.8M.
  • K2 Principal Fund fully exited Solaris Energy Infrastructure in Q2 2025, selling an estimated $5.9M.
  • K2 Principal Fund's ten largest holdings make up 23% of its $725M portfolio in Q2 2025.
  • K2 Principal Fund opened 118 new positions and closed 98 in Q2 2025.
  • K2 Principal Fund's portfolio value fell 8% quarter-over-quarter to $725M.

Based on K2 Principal Fund's 13F filing for Q2 2025, filed 14 Aug 2025.