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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
INFN
326
DELISTED
Infinera Corporation Common Stock
INFN
– –
-20,441
Closed -$134K
HCP
327
DELISTED
HashiCorp, Inc. Class A Common Stock
HCP
– –
-120,114
Closed -$4.11M
FTII
328
DELISTED
FutureTech II Acquisition Corp. Class A Common Stock
FTII
– –
-105,296
Closed -$1.16M
BYNOW
329
DELISTED
byNordic Acquisition Corporation Warrant
BYNOW
– –
-55,050
Closed -$2.2K
SILV
330
DELISTED
SilverCrest Metals Inc. Common Shares
SILV
– –
-59,733
Closed -$544K
PLMJW
331
DELISTED
Plum Acquisition Corp. III Warrant
PLMJW
– –
-129,604
Closed -$23.3K
PLMJ
332
DELISTED
Plum Acquisition Corp. III Class A Ordinary Shares
PLMJ
– –
-94,362
Closed -$1.05M
B
333
DELISTED
Barnes Group Inc.
B
– –
-53,330
Closed -$2.52M
SMAR
334
DELISTED
Smartsheet Inc.
SMAR
– –
-15,746
Closed -$882K
GATO
335
DELISTED
Gatos Silver, Inc.
GATO
– –
-45,409
Closed -$635K
CSLMW
336
DELISTED
CSLM Acquisition Corp. Warrant
CSLMW
– –
-133,900
Closed -$10.7K
SDIG
337
DELISTED
Stronghold Digital Mining, Inc. Class A Common Stock
SDIG
– –
-227,611
Closed -$797K
10 11 12 13
14

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WIM
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LCG
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CCM
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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.