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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
KVACW icon
401
Keen Vision Acquisition Corp Warrant
KVACW
$6.14K ﹤0.01%
204,578
– –
ZKPW
402
Lafayette Digital Acquisition Corp I Warrant
ZKPW
$2.95M
$5.75K ﹤0.01%
+25,000
New +$8.28K
BLUWW
403
Blue Water Acquisition Corp III Warrant
BLUWW
$4.62K ﹤0.01%
10,260
– –
ITHAW
404
ITHAX Acquisition Corp III Warrants
ITHAW
$4.5K ﹤0.01%
+25,000
New +$5.57K
ESHAR
405
DELISTED
ESH Acquisition Corp Right
ESHAR
$2.24K ﹤0.01%
22,379
-4,428
-17% -$859
RFAIR
406
RF Acquisition Corp II Right
RFAIR
$1.6K ﹤0.01%
13,374
– –
ACRE
407
Ares Commercial Real Estate
ACRE
$251M
– –
-77,377
Closed -$370K
APLD icon
408
CALL
Applied Digital
APLD
$8.54B
– –
-25,000
Closed -$613K
ASGI
409
abrdn Global Infrastructure Income Fund
ASGI
$776M
– –
-9,425
Closed -$211K
ATMCW
410
DELISTED
AlphaTime Acquisition Corp Warrant
ATMCW
– –
-141,606
Closed -$9.91K
BB icon
411
CALL
BlackBerry
BB
$5.06B
– –
-50,000
Closed -$190K
BTDR icon
412
PUT
Bitdeer Technologies
BTDR
$2.96B
– –
-50,000
Closed -$561K
CAMT icon
413
Camtek
CAMT
$7.24B
– –
-4,000
Closed -$425K
CFLT
414
DELISTED
Confluent
CFLT
– –
-74,997
Closed -$2.27M
CII icon
415
BlackRock Enhanced Captial and Income Fund
CII
$998M
– –
-10,682
Closed -$250K
CLNE icon
416
Clean Energy Fuels
CLNE
$460M
– –
-250,000
Closed -$525K
CRNC icon
417
CALL
Cerence
CRNC
$398M
– –
-50,000
Closed -$535K
CSIQ icon
418
PUT
Canadian Solar
CSIQ
$997M
– –
-75,000
Closed -$1.78M
CUBE icon
419
CubeSmart
CUBE
$9.29B
– –
-30,100
Closed -$1.09M
CYBR
420
DELISTED
CyberArk
CYBR
– –
-6,748
Closed -$3.01M
DCBO
421
Docebo
DCBO
$482M
– –
-76,910
Closed -$1.71M
FCX icon
422
CALL
Freeport-McMoran
FCX
$91.3B
– –
-10,000
Closed -$508K
FCX icon
423
Freeport-McMoran
FCX
$91.3B
– –
-25,800
Closed -$1.56M
FYBR
424
DELISTED
Frontier Communications
FYBR
– –
-71,074
Closed -$2.71M
B
425
Barrick Mining
B
$62.3B
– –
-101,145
Closed -$4.4M
15 16
17
18 19

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LCG
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CCM
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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.