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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
CRAQR
301
Cal Redwood Acquisition Corp Right
CRAQR
$88.4K 0.01%
401,693
+73,415
+22% +$17.5K
HVIIR
302
Hennessy Capital Investment Corp VII Rights
HVIIR
$86.6K 0.01%
309,177
-85,420
-22% -$23.6K
OPENW
303
Opendoor Technologies Inc Series K Warrants
OPENW
$11.6M
$85.5K 0.01%
142,462
+31,056
+28% +$27.9K
EURKR
304
Eureka Acquisition Corp Right
EURKR
$81.6K 0.01%
326,474
– –
SIMAW
305
SIM Acquisition Corp I Warrant
SIMAW
$81.3K 0.01%
301,172
-93,900
-24% -$30.4K
PMTRW
306
Perimeter Acquisition Corp I Warrant
PMTRW
$80.6K 0.01%
116,818
– –
XCBEW
307
X3 Acquisition Corp Warrant
XCBEW
$79.8K 0.01%
+332,649
New +$87.8K
EVC icon
308
Entravision Communication
EVC
$969M
$74K 0.01%
+24,919
New +$76.4K
FACTW
309
FACT II Acquisition Corp Warrant
FACTW
$1.53M
$73.4K 0.01%
183,386
-104,900
-36% -$49.5K
GENVR
310
Gen Digital Inc Contingent Value Rights
GENVR
$73.1K 0.01%
155,535
-126,415
-45% -$248K
TACOW
311
Berto Acquisition Corp Warrant
TACOW
$17.2M
$69.9K ﹤0.01%
279,501
-57,400
-17% -$19.8K
RAC.WS
312
Rithm Acquisition Corp Warrants
RAC.WS
$65K ﹤0.01%
116,000
– –
AIRJW
313
AirJoule Technologies Warrant
AIRJW
$61.4M
$64.9K ﹤0.01%
115,912
– –
SZZLR
314
Sizzle Acquisition Corp II Right
SZZLR
$63.6K ﹤0.01%
424,279
+200,322
+89% +$41.3K
ASTLW icon
315
Algoma Steel Group Warrant
ASTLW
$317K
$62.2K ﹤0.01%
690,879
– –
DAAQW
316
Digital Asset Acquisition Corp Warrant
DAAQW
$2.76M
$60.7K ﹤0.01%
159,845
– –
TLNCW
317
Talon Capital Corp Warrants
TLNCW
$58.3K ﹤0.01%
116,666
– –
HFRO
318
Highland Opportunities and Income Fund
HFRO
$404M
$57.3K ﹤0.01%
10,033
– –
EVAC.WS
319
EQV Ventures Acquisition Corp II Warrants
EVAC.WS
$57K ﹤0.01%
211,072
+21,689
+11% +$8.22K
DBCAW
320
D. Boral Acquisition I Corp Warrants
DBCAW
$5.75M
$57K ﹤0.01%
+189,922
New +$53.8K
SAAQW
321
Space Asset Acquisition Corp Warrants
SAAQW
$7.14M
$56.8K ﹤0.01%
+87,387
New +$57.6K
ALDFW
322
Aldel Financial II Inc Warrants
ALDFW
$54.1K ﹤0.01%
208,269
-80,100
-28% -$40.4K
RDAGW
323
Republic Digital Acquisition Co Warrants
RDAGW
$53.3K ﹤0.01%
121,067
– –
SKYH.WS icon
324
Sky Harbour Group Warrants
SKYH.WS
$19.1M
$51.5K ﹤0.01%
73,619
– –
ZEOWW
325
Zeo Energy Corp Warrants
ZEOWW
$160K
$51.1K ﹤0.01%
1,277,536
– –
11 12
13
14 15

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WIM
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LCG
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CCM
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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.