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KPF

K2 Principal Fund Portfolio holdings

AUM $1.43B
1-Year Est. Return 29.56%
This Fund
S&P 500
This Quarter Est. Return
-0.7%
1 Year Est. Return
+29.56%
3 Year Est. Return
+71.66%
5 Year Est. Return
+57.43%
10 Year Est. Return
+278.66%
AUM
$1.43B
AUM Growth
+$191M
Cap. Flow
-$106M
Cap. Flow %
-7.43%
Top 10 Hldgs %
20.87%
Holding
592
New
187
Increased
59
Reduced
77
Closed
105

Top Buys

Rank Stock Value
1
PFSI icon
PennyMac Financial
PFSI
+$8.39M
2
GLD icon
SPDR Gold Trust
GLD
+$6.54M
3
GOOG icon
Alphabet (Google) Class C
GOOG
+$6.24M
4
SPRY icon
ARS Pharmaceuticals
SPRY
+$5.27M
5
WLIIU
Willow Lane Acquisition Corp II Unit
WLIIU
+$4.55M

Top Sells

Rank Stock Value
1
BTI icon
British American Tobacco
BTI
+$5.69M
2
B
Barrick Mining
B
+$4.4M
3
NGD
New Gold Inc
NGD
+$4.19M
4
ALUB.U
Alussa Energy Acquisition Corp II Units
ALUB.U
+$3.54M
5
OPEN icon
Opendoor
OPEN
+$3.26M

Sector Composition

Rank Sector Weight
1 Financials 8.7%
2 Communication Services 1.84%
3 Consumer Discretionary 1.81%
4 Materials 1.59%
5 Technology 1.55%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VMET
126
Versamet Royalties Corp
VMET
$991M
$1.65M 0.12%
+124,800
New +$1.29M
GENI icon
127
Genius Sports
GENI
$1.77B
$1.65M 0.11%
371,351
+167,617
+82% +$1.19M
MATX icon
128
PUT
Matsons
MATX
$6.46B
$1.64M 0.11%
+10,000
New +$1.56M
CAVA icon
129
PUT
CAVA Group
CAVA
$7.19B
$1.62M 0.11%
+20,000
New +$1.46M
XLI icon
130
PUT
State Street Industrial Select Sector SPDR ETF
XLI
$33.9B
$1.62M 0.11%
+10,000
New +$1.68M
VALE icon
131
CALL
Vale
VALE
$63B
$1.59M 0.11%
+100,000
New +$1.56M
AMTM
132
Amentum Holdings
AMTM
$5.56B
$1.56M 0.11%
+60,000
New +$1.88M
XCBE
133
X3 Acquisition Corp
XCBE
$280M
$1.53M 0.11%
+155,633
New +$1.53M
LULU icon
134
lululemon athletica
LULU
$13.1B
$1.53M 0.11%
10,000
+8,500
+567% +$1.52M
VOXR
135
Vox Royalty Corp
VOXR
$302M
$1.5M 0.1%
286,826
-30,674
-10% -$164K
SKYT icon
136
SkyWater Technology
SKYT
$1.51B
$1.5M 0.1%
+54,653
New +$1.61M
ALUB
137
Alussa Energy Acquisition Corp II
ALUB
$1.5M 0.1%
+150,000
New +$1.5M
CORZ icon
138
CALL
Core Scientific
CORZ
$7.42B
$1.5M 0.1%
+100,000
New +$1.71M
MZYX.U
139
MOZAYYX Acquisition Corp Units
MZYX.U
$1.49M 0.1%
+150,000
New +$1.49M
IACOU
140
Idea Acquisition Corp Units
IACOU
$1.49M 0.1%
+150,000
New +$1.49M
CMCO icon
141
Columbus McKinnon
CMCO
$465M
$1.47M 0.1%
101,000
+60,775
+151% +$1.13M
CMCO icon
142
PUT
Columbus McKinnon
CMCO
$465M
$1.45M 0.1%
+100,000
New +$1.86M
STGW icon
143
Stagwell
STGW
$1.83B
$1.44M 0.1%
+229,170
New +$1.28M
W icon
144
PUT
Wayfair
W
$11.2B
$1.43M 0.1%
+19,000
New +$1.72M
SWK icon
145
PUT
Stanley Black & Decker
SWK
$14.2B
$1.42M 0.1%
+20,000
New +$1.61M
CORZW icon
146
Core Scientific Inc Tranche 1 Warrants
CORZW
$1.64B
$1.38M 0.1%
158,192
– –
BIP icon
147
Brookfield Infrastructure Partners
BIP
$19B
$1.38M 0.1%
38,200
-86,700
-69% -$3.18M
KIE icon
148
PUT
State Street SPDR S&P Insurance ETF
KIE
$616M
$1.38M 0.1%
+25,000
New +$1.44M
NFLX icon
149
CALL
Netflix
NFLX
$292B
$1.36M 0.09%
+14,100
New +$1.24M
IAUX.WS
150
i-80 Gold Corp Warrants
IAUX.WS
$135M
$1.35M 0.09%
1,350,000
– –
4 5
6
7 8

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WIM
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LCG
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CCM
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SMA
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SCA
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K2 Principal Fund's Q1 2026 Portfolio in Review

As of Q1 2026, K2 Principal Fund held 592 positions worth $1.43B, up 15% from $1.24B the previous quarter. Its ten largest holdings account for 21% of the portfolio.

K2 Principal Fund withdrew a net $106M in Q1 2026, closing 105 positions and reducing 77 holdings. Its most notable exit was Barrick Mining, an estimated $4.4M position sold in full.

By sector, the portfolio is most concentrated in Financials at 8.7% of assets, up from 7% a quarter earlier, followed by Communication Services and Consumer Discretionary.

Against the trend, K2 Principal Fund opened a new position in SPDR Gold Trust worth $6.28M.

  • K2 Principal Fund's largest Q1 2026 buy was SPDR Gold Trust: 14,603 shares worth $6.28M.
  • K2 Principal Fund added most to PennyMac Financial in Q1 2026, an estimated $8.39M increase.
  • K2 Principal Fund's biggest Q1 2026 reduction was British American Tobacco, cutting an estimated $5.69M.
  • K2 Principal Fund fully exited Barrick Mining in Q1 2026, selling an estimated $4.4M.
  • K2 Principal Fund's ten largest holdings make up 21% of its $1.43B portfolio in Q1 2026.
  • K2 Principal Fund opened 187 new positions and closed 105 in Q1 2026.
  • K2 Principal Fund's portfolio value rose 15% quarter-over-quarter to $1.43B.

Based on K2 Principal Fund's 13F filing for Q1 2026, filed 14 May 2026.