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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
+1.51%
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
$1.24B
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
KCHVR
301
Kochav Defense Acquisition Corp Right
KCHVR
$24K ﹤0.01%
100,000
– –
BACCR
302
Blue Acquisition Corp Right
BACCR
$24K ﹤0.01%
+75,000
New +$20K
NPWR.WS icon
303
NET Power Inc Warrants
NPWR.WS
$14.6M
$23.1K ﹤0.01%
46,181
– –
AAM.WS
304
DELISTED
AA Mission Acquisition Corp Warrants
AAM.WS
$21.3K ﹤0.01%
125,000
– –
OAKUW
305
DELISTED
Oak Woods Acquisition Corp Warrant
OAKUW
$20K ﹤0.01%
500,340
– –
MCGAW
306
Yorkville Acquisition Corp Warrant
MCGAW
$1.53M
$19.2K ﹤0.01%
38,333
– –
FCRS.WS
307
FutureCrest Acquisition Corp Warrants
FCRS.WS
$18.3K ﹤0.01%
+25,000
New +$19.5K
KFIIR
308
K&F Growth Acquisition Corp II Rights
KFIIR
$15.4K ﹤0.01%
118,722
– –
EMISR
309
Emmis Acquisition Corp Rights
EMISR
$15K ﹤0.01%
+100,000
New +$15.9K
ONCHW
310
1RT Acquisition Corp Warrant
ONCHW
$14.5K ﹤0.01%
25,000
– –
NPACW
311
New Providence Acquisition Corp III Warrants
NPACW
$2.3M
$12.6K ﹤0.01%
+24,700
New +$12.9K
MBVIW
312
M3-Brigade Acquisition VI Corp Warrant
MBVIW
$12.3K ﹤0.01%
+33,333
New +$17.2K
CHPGR
313
ChampionsGate Acquisition Corp Rights
CHPGR
$11.9K ﹤0.01%
62,780
– –
FACWW
314
Factorial Energy Inc Warrant
FACWW
$9.66M
$11.1K ﹤0.01%
+14,091
New +$5.4K
KVACW icon
315
Keen Vision Acquisition Corp Warrant
KVACW
$477K
$10.2K ﹤0.01%
204,578
– –
OPENL
316
Opendoor Technologies Inc Series A Warrants
OPENL
$5.96M
$9.95K ﹤0.01%
+19,134
New +$16.3K
ATMCW
317
DELISTED
AlphaTime Acquisition Corp Warrant
ATMCW
$9.91K ﹤0.01%
141,606
– –
OBAWW
318
Oxley Bridge Acquisition Ltd Warrants
OBAWW
$2.94M
$8.85K ﹤0.01%
+40,217
New +$9.94K
WTGUR
319
Wintergreen Acquisition Corp Rights
WTGUR
$8.67K ﹤0.01%
+57,800
New +$10.7K
XBPEW
320
XBP Europe Holdings Warrant
XBPEW
$7K ﹤0.01%
233,305
– –
ESHAR
321
DELISTED
ESH Acquisition Corp Right
ESHAR
$6.7K ﹤0.01%
26,807
– –
BLUWW
322
Blue Water Acquisition Corp III Warrant
BLUWW
$4.68M
$5.44K ﹤0.01%
+10,260
New +$3.56K
MRNOW
323
Murano Global Investments PLC Warrants
MRNOW
$169K
$2.09K ﹤0.01%
69,690
-182,453
-72% -$12.4K
RFAIR
324
RF Acquisition Corp II Right
RFAIR
$1.6K ﹤0.01%
13,374
– –
AES icon
325
PUT
AES
AES
$10.6B
– –
-50,000
Closed -$658K
11 12
13
14 15

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KGI
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SC
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WIM
Weitz Investment Management Omaha, Nebraska $1.43B AUM 0.51% 1-Year Est. Return
LCG
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CCM
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TS
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SMA
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SCA
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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.