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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
+0.32%
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
$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
BSLKW
226
DELISTED
Bolt Projects Holdings Warrant
BSLKW
$9K ﹤0.01%
300,000
– –
AAM.WS
227
DELISTED
AA Mission Acquisition Corp Warrants
AAM.WS
$8.75K ﹤0.01%
125,000
– –
ESHAR
228
DELISTED
ESH Acquisition Corp Right
ESHAR
$8.34K ﹤0.01%
92,627
– –
SVIIR
229
DELISTED
Spring Valley Acquisition Corp II Rights
SVIIR
$8K ﹤0.01%
100,000
– –
BOWNR
230
DELISTED
Bowen Acquisition Corp Rights
BOWNR
$7.7K ﹤0.01%
29,596
– –
KVACW icon
231
Keen Vision Acquisition Corp Warrant
KVACW
$283K
$6.74K ﹤0.01%
224,607
– –
GRAF.WS
232
DELISTED
Graf Global Corp Warrants
GRAF.WS
$5.88K ﹤0.01%
32,657
– –
CHEB.WS
233
DELISTED
Chenghe Acquisition II Co. Redeemable Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50
CHEB.WS
$5.25K ﹤0.01%
105,037
– –
RFAIR
234
RF Acquisition Corp II Right
RFAIR
$3.5K ﹤0.01%
50,000
– –
HYAC.WS
235
DELISTED
Haymaker Acquisition Corp 4 Warrants
HYAC.WS
$2.63K ﹤0.01%
12,500
– –
FORLW
236
DELISTED
Four Leaf Acquisition Corp Warrants
FORLW
$2.22K ﹤0.01%
55,548
– –
PITAW
237
DELISTED
Heramba Electric plc Warrants
PITAW
$2.14K ﹤0.01%
214,336
– –
ATMCW
238
DELISTED
AlphaTime Acquisition Corp Warrant
ATMCW
$1.42K ﹤0.01%
141,606
– –
ABLLW
239
DELISTED
Abacus Life Warrant
ABLLW
– –
-87,357
Closed -$91.7K
ACI icon
240
CALL
Albertsons Companies
ACI
$5.62B
– –
-70,000
Closed -$1.37M
ACI icon
241
Albertsons Companies
ACI
$5.62B
– –
-295,501
Closed -$5.8M
ADM icon
242
PUT
Archer Daniels Midland
ADM
$38.7B
– –
-25,000
Closed -$1.26M
AMZN icon
243
CALL
Amazon
AMZN
$2.91T
– –
-70,000
Closed -$15.4M
ASTS icon
244
AST SpaceMobile
ASTS
$17.6B
– –
-22,000
Closed -$464K
BALY icon
245
Bally's
BALY
$678M
– –
-70,561
Closed -$1.26M
BMRN icon
246
CALL
BioMarin Pharmaceuticals
BMRN
$11.6B
– –
-23,000
Closed -$1.51M
BTMD icon
247
Biote Corp
BTMD
$68.2M
– –
-49,651
Closed -$307K
CCJ icon
248
CALL
Cameco
CCJ
$37.7B
– –
-34,900
Closed -$1.79M
CHRW icon
249
CALL
C.H. Robinson
CHRW
$17.5B
– –
-27,500
Closed -$2.84M
CLNE icon
250
Clean Energy Fuels
CLNE
$425M
– –
-100,000
Closed -$251K
8 9
10
11 12

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LCG
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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.