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KPF

K2 Principal Fund Portfolio holdings

AUM $1.36B
1-Year Est. Return 25.57%
This Fund
S&P 500
This Quarter Est. Return
-0.7%
1 Year Est. Return
+25.57%
3 Year Est. Return
+75.5%
5 Year Est. Return
+59.21%
10 Year Est. Return
+265.44%
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
HOOD icon
426
PUT
Robinhood
HOOD
$85B
– –
-20,000
Closed -$2.26M
HYAC
427
DELISTED
Haymaker Acquisition Corp 4
HYAC
– –
-226,442
Closed -$2.58M
IBIT icon
428
CALL
iShares Bitcoin Trust
IBIT
$47.6B
– –
-40,000
Closed -$1.99M
IBIT icon
429
PUT
iShares Bitcoin Trust
IBIT
$47.6B
– –
-55,000
Closed -$2.73M
ITB icon
430
CALL
iShares US Home Construction ETF
ITB
$2.35B
– –
-20,000
Closed -$1.93M
ITB icon
431
iShares US Home Construction ETF
ITB
$2.35B
– –
-7,000
Closed -$674K
KVUE icon
432
Kenvue
KVUE
$36.5B
– –
-46,193
Closed -$797K
MARA icon
433
PUT
Marathon Digital Holdings
MARA
$3.69B
– –
-225,000
Closed -$2.02M
META icon
434
PUT
Meta Platforms (Facebook)
META
$1.52T
– –
-10,000
Closed -$6.6M
MOBBW
435
Mobilicom Ltd Warrants
MOBBW
$2.83B
– –
-31,140
Closed -$100K
NGD
436
DELISTED
New Gold Inc
NGD
– –
-481,563
Closed -$4.19M
NIOBW
437
NioCorp Developments Ltd Warrant
NIOBW
$82.1M
– –
-50,100
Closed -$93.2K
NKE icon
438
Nike
NKE
$62.5B
– –
-27,000
Closed -$1.72M
NKE icon
439
PUT
Nike
NKE
$62.5B
– –
-20,000
Closed -$1.27M
NVDA icon
440
NVIDIA
NVDA
$5.27T
– –
-4,000
Closed -$746K
NVRI icon
441
Enviri
NVRI
$615M
– –
-82,987
Closed -$1.49M
OAKUW
442
DELISTED
Oak Woods Acquisition Corp Warrant
OAKUW
– –
-500,340
Closed -$20K
OPEN icon
443
Opendoor
OPEN
$3.38B
– –
-559,157
Closed -$3.26M
OPEN icon
444
PUT
Opendoor
OPEN
$3.38B
– –
-500,000
Closed -$2.92M
PAR icon
445
PAR Technology
PAR
$753M
– –
-83,580
Closed -$1.96M
PGY icon
446
PUT
Pagaya Technologies
PGY
$1.8B
– –
-30,000
Closed -$627K
PKST
447
DELISTED
Peakstone Realty Trust
PKST
– –
-209,114
Closed -$3M
PLTR icon
448
PUT
Palantir
PLTR
$421B
– –
-30,000
Closed -$5.33M
PLUG icon
449
Plug Power
PLUG
$2.94B
– –
-450,000
Closed -$887K
PLYM
450
DELISTED
Plymouth Industrial REIT
PLYM
– –
-24,204
Closed -$530K
16 17
18
19 20

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DC
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FC
FORA Capital Miami, Florida $1.36B AUM 56.1% 1-Year Est. Return
QF
QVT Financial New York $1.37B AUM 148.1% 1-Year Est. Return
KRS
Kentucky Retirement Systems Frankfort, Kentucky $1.37B AUM 33.36% 1-Year Est. Return
AF
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PP
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CRM
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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.