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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
+1.51%
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
$1.24B
AUM Growth
+$9.76M
Cap. Flow
-$461M
Cap. Flow %
-37.16%
Top 10 Hldgs %
20.77%
Holding
481
New
139
Increased
48
Reduced
70
Closed
71

Top Buys

Rank Stock Value
1
SUNC
SunocoCorp LLC
SUNC
+$5.29M
2
BTI icon
British American Tobacco
BTI
+$4.93M
3
BIP icon
Brookfield Infrastructure Partners
BIP
+$4.35M
4
BEP icon
Brookfield Renewable
BEP
+$3.69M
5
NGD
New Gold Inc
NGD
+$3.63M

Top Sells

Rank Stock Value
1
GLD icon
SPDR Gold Trust
GLD
+$26.6M
2
CORZ icon
Core Scientific
CORZ
+$12M
3
SLV icon
iShares Silver Trust
SLV
+$6.83M
4
SPRY icon
ARS Pharmaceuticals
SPRY
+$5.95M
5
TLNCU
Talon Capital Corp Units
TLNCU
+$4.52M

Sector Composition

Rank Sector Weight
1 Financials 6.98%
2 Materials 2.32%
3 Technology 1.78%
4 Communication Services 1.46%
5 Consumer Discretionary 1.3%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LCID icon
351
Lucid Motors
LCID
$2.6B
– –
-20,658
Closed -$491K
LPLA icon
352
LPL Financial
LPLA
$29.3B
– –
-6,115
Closed -$2.03M
MARA icon
353
CALL
Marathon Digital Holdings
MARA
$3.69B
– –
-250,000
Closed -$4.57M
MSFT icon
354
Microsoft
MSFT
$3.76T
– –
-1,750
Closed -$906K
NETD
355
DELISTED
Nabors Energy Transition Corp II
NETD
– –
-150,000
Closed -$1.68M
NETDW
356
DELISTED
Nabors Energy Transition Corp II Warrant
NETDW
– –
-375,583
Closed -$105K
NXT icon
357
Nextpower Inc
NXT
$15.6B
– –
-10,000
Closed -$740K
OMC icon
358
CALL
Omnicom Group
OMC
$23.2B
– –
-35,000
Closed -$2.85M
OUT icon
359
Outfront Media
OUT
$5.29B
– –
-60,435
Closed -$1.11M
OXLC
360
Oxford Lane Capital
OXLC
$905M
– –
-12,868
Closed -$218K
PDS
361
Precision Drilling
PDS
$1.05B
– –
-51,600
Closed -$2.91M
PTA icon
362
Cohen & Steers Tax-Advantaged Preferred Securities & Income Fund
PTA
$1.05B
– –
-9,804
Closed -$200K
PTON icon
363
Peloton Interactive
PTON
$2.42B
– –
-429,369
Closed -$3.02M
RKT icon
364
PUT
Rocket Companies
RKT
$39B
– –
-165,000
Closed -$3.2M
RRX icon
365
Regal Rexnord
RRX
$11.5B
– –
-2,496
Closed -$358K
SAND
366
DELISTED
Sandstorm Gold
SAND
– –
-170,000
Closed -$2.13M
SCS
367
DELISTED
Steelcase
SCS
– –
-31,322
Closed -$539K
SPHR icon
368
CALL
Sphere Entertainment
SPHR
$5.84B
– –
-114,700
Closed -$7.13M
SVIIR
369
DELISTED
Spring Valley Acquisition Corp II Rights
SVIIR
– –
-94,300
Closed -$49K
SVIIW
370
DELISTED
Spring Valley Acquisition Corp II Warrant
SVIIW
– –
-159,239
Closed -$207K
TEAF
371
DELISTED
Ecofin Sustainable & Social Impact Term Fund
TEAF
– –
-11,119
Closed -$131K
TIXT
372
DELISTED
TELUS International
TIXT
– –
-806,090
Closed -$3.61M
UBER icon
373
Uber
UBER
$159B
– –
-40,430
Closed -$3.96M
VFC icon
374
VF Corp
VFC
$5.86B
– –
-149,100
Closed -$2.15M
W icon
375
CALL
Wayfair
W
$14.1B
– –
-129,500
Closed -$11.6M
12 13 14
15
16

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DC
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FC
FORA Capital Miami, Florida $1.36B AUM 56.1% 1-Year Est. Return
QF
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KRS
Kentucky Retirement Systems Frankfort, Kentucky $1.37B AUM 33.36% 1-Year Est. Return
AF
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PP
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CRM
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K2 Principal Fund's Q4 2025 Portfolio in Review

As of Q4 2025, K2 Principal Fund held 481 positions worth $1.24B, up 0.79% from $1.23B the previous quarter. Its ten largest holdings account for 21% of the portfolio.

K2 Principal Fund withdrew a net $461M in Q4 2025, closing 71 positions and reducing 70 holdings. Its most notable exit was SPDR Gold Trust, an estimated $26.6M position sold in full.

By sector, the portfolio is most concentrated in Financials at 7% of assets, up from 6.5% a quarter earlier, followed by Materials and Technology.

Against the trend, K2 Principal Fund opened a new position in SunocoCorp LLC worth $5.18M.

  • K2 Principal Fund's largest Q4 2025 buy was SunocoCorp LLC: 105,090 shares worth $5.18M.
  • K2 Principal Fund added most to British American Tobacco in Q4 2025, an estimated $4.93M increase.
  • K2 Principal Fund's biggest Q4 2025 reduction was iShares Silver Trust, cutting an estimated $6.83M.
  • K2 Principal Fund fully exited SPDR Gold Trust in Q4 2025, selling an estimated $26.6M.
  • K2 Principal Fund's ten largest holdings make up 21% of its $1.24B portfolio in Q4 2025.
  • K2 Principal Fund opened 139 new positions and closed 71 in Q4 2025.
  • K2 Principal Fund's portfolio value rose 0.79% quarter-over-quarter to $1.24B.

Based on K2 Principal Fund's 13F filing for Q4 2025, filed 13 Feb 2026.