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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
BEAGR
276
Bold Eagle Acquisition Corp Right
BEAGR
$191K 0.01%
909,477
+430,959
+90% +$135K
SZZL
277
Sizzle Acquisition Corp II
SZZL
$325M
$190K 0.01%
18,479
– –
SABA
278
Saba Capital Income & Opportunities Fund II
SABA
$220M
$189K 0.01%
22,700
– –
MCGA
279
Yorkville Acquisition Corp
MCGA
$241M
$183K 0.01%
18,075
-46,925
-72% -$476K
BPRE
280
Bluerock Private Real Estate Fund
BPRE
$181K 0.01%
+10,900
New +$181K
NWAX
281
New America Acquisition I Corp
NWAX
$504M
$172K 0.01%
+17,180
New +$173K
IPCXR
282
Inflection Point Acquisition Corp III Rights
IPCXR
$166K 0.01%
473,166
– –
AIOT
283
CALL
PowerFleet Inc
AIOT
$509M
$154K 0.01%
+50,000
New +$209K
ARCIW
284
Archimedes Tech SPAC Partners III Warrant
ARCIW
$4.61M
$152K 0.01%
+281,777
New +$149K
SVACW
285
DELISTED
Spring Valley Acquisition Corp III Warrant
SVACW
$140K 0.01%
134,299
+67,633
+101% +$81K
FTW.WS
286
Presidio Production Co Warrants
FTW.WS
$131K 0.01%
162,326
-326,386
-67% -$214K
LOKVW
287
DELISTED
Live Oak Acquisition Corp V Warrants
LOKVW
$130K 0.01%
90,700
-41,500
-31% -$64.9K
NHICW
288
NewHold Investment Corp III Warrants
NHICW
$20.2M
$128K 0.01%
345,252
+226,387
+190% +$92.4K
PTON icon
289
CALL
Peloton Interactive
PTON
$2.61B
$124K 0.01%
29,000
+18,000
+164% +$87.8K
ATIIW
290
Archimedes Tech SPAC Partners II Co Warrant
ATIIW
$21.5M
$122K 0.01%
239,895
– –
BACCR
291
Blue Acquisition Corp Right
BACCR
$109K 0.01%
362,268
+287,268
+383% +$81.7K
GCTS.WS
292
GCT Semiconductor Holding Warrants
GCTS.WS
$17.5M
$105K 0.01%
583,091
-100,000
-15% -$14.5K
SPRY icon
293
CALL
ARS Pharmaceuticals
SPRY
$596M
$104K 0.01%
13,000
-168,100
-93% -$1.61M
LEGT.WS
294
DELISTED
Legato Merger Corp III Warrants
LEGT.WS
$104K 0.01%
207,873
-201,294
-49% -$102K
ARTCW
295
Art Technology Acquisition Corp Warrants
ARTCW
$96.4K 0.01%
+332,259
New +$117K
PCF
296
High Income Securities Fund
PCF
$99.6M
$91.7K 0.01%
16,617
– –
NPACW
297
New Providence Acquisition Corp III Warrants
NPACW
$3M
$91.6K 0.01%
482,165
+457,465
+1,852% +$196K
IEAGR
298
Infinite Eagle Acquisition Corp Rights
IEAGR
$90.1K 0.01%
+500,400
New +$94.1K
APADR
299
DELISTED
A Paradise Acquisition Corp Rights
APADR
$89.7K 0.01%
199,400
-450,600
-69% -$141K
GTENW
300
Gores Holdings X Warrants
GTENW
$88.9K 0.01%
158,674
+57,718
+57% +$40.8K
10 11
12
13 14

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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.