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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
JENA.RT
326
Jena Acquisition Corp II Rights
JENA.RT
$50K ﹤0.01%
312,735
– –
OIMAW
327
OneIM Acquisition Corp Warrant
OIMAW
$47.1K ﹤0.01%
+72,427
New +$52.4K
KDKRW
328
Kodiak AI Warrants
KDKRW
$45.1K ﹤0.01%
41,764
-132,087
-76% -$179K
LPBBW
329
Launch Two Acquisition Corp Warrant
LPBBW
$43.7K ﹤0.01%
272,891
+4,937
+2% +$1.26K
BCARW
330
D. Boral ARC Acquisition I Corp Warrant
BCARW
$18.6M
$43.3K ﹤0.01%
73,465
-184,212
-71% -$144K
FLDDW
331
Fold Holdings Warrant
FLDDW
$933K
$41.9K ﹤0.01%
380,780
– –
AENTW icon
332
Alliance Entertainment Holding Corp Warrants
AENTW
$4.96M
$41.6K ﹤0.01%
69,325
-40,969
-37% -$25.4K
BBCQW
333
Bleichroeder Acquisition Corp II Warrants
BBCQW
$39.6K ﹤0.01%
+41,666
New +$31.2K
LWACW
334
LightWave Acquisition Corp Warrants
LWACW
$37.7K ﹤0.01%
156,950
+50,000
+47% +$14.1K
SVCCW
335
Stellar V Capital Corp Warrant
SVCCW
$37.4K ﹤0.01%
169,960
– –
ALUB.WS
336
Alussa Energy Acquisition Corp II Warrants
ALUB.WS
$37.3K ﹤0.01%
+116,666
New +$53.9K
RNGTW
337
Range Capital Acquisition Corp II Warrants
RNGTW
$4.47M
$36.7K ﹤0.01%
122,200
– –
WENNW
338
Wen Acquisition Corp Warrant
WENNW
$4.5M
$36.2K ﹤0.01%
113,158
– –
CLBR.WS
339
Colombier Acquisition Corp III Warrants
CLBR.WS
$33.8K ﹤0.01%
+50,400
New +$46.6K
FRMM
340
Forum Markets
FRMM
$74.9M
$33.7K ﹤0.01%
11,644
– –
WLACW
341
DELISTED
Willow Lane Acquisition Corp Warrants
WLACW
$33.1K ﹤0.01%
11,420
-69,733
-86% -$243K
TACHW
342
Titan Acquisition Corp Warrants
TACHW
$31.7K ﹤0.01%
121,750
-14,900
-11% -$5.08K
AACBR
343
Artius II Acquisition Inc Rights
AACBR
$30.2K ﹤0.01%
112,006
– –
NRO
344
Neuberger Real Estate Securities Income Fund Inc
NRO
$190M
$29.5K ﹤0.01%
10,400
– –
MLACR
345
DELISTED
Mountain Lake Acquisition Corp Right
MLACR
$29.5K ﹤0.01%
113,489
-34,018
-23% -$9.43K
SVAQW
346
Silicon Valley Acquisition Corp Warrants
SVAQW
$7.09M
$28.9K ﹤0.01%
+103,300
New +$31.5K
SPKLW
347
Spark I Acquisition Corp Warrant
SPKLW
$8.3M
$28.8K ﹤0.01%
160,220
-100,000
-38% -$29.1K
DNMXW
348
Dynamix Corp III Warrants
DNMXW
$2.72M
$27.9K ﹤0.01%
96,249
– –
RTACW
349
Renatus Tactical Acquisition Corp I Warrant
RTACW
$8.45M
$27.3K ﹤0.01%
59,413
– –
CUBWW
350
Lionheart Holdings Warrant
CUBWW
$4.95M
$26.5K ﹤0.01%
220,986
-137,610
-38% -$25.7K
12 13
14
15 16

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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.