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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
PLYM
451
DELISTED
Plymouth Industrial REIT
PLYM
– –
-24,204
Closed -$530K
P
452
Everpure Inc
P
$25B
– –
-5,102
Closed -$342K
P
453
PUT
Everpure Inc
P
$25B
– –
-20,000
Closed -$1.34M
QUBT icon
454
CALL
Quantum Computing Inc
QUBT
$1.77B
– –
-10,000
Closed -$103K
ROK icon
455
Rockwell Automation
ROK
$51.3B
– –
-1,039
Closed -$404K
SLV icon
456
iShares Silver Trust
SLV
$27.8B
– –
-10,200
Closed -$775K
SPCE icon
457
PUT
Virgin Galactic
SPCE
$332M
– –
-200,000
Closed -$642K
STLD icon
458
Steel Dynamics
STLD
$34.7B
– –
-1,200
Closed -$203K
SYF icon
459
PUT
Synchrony
SYF
$23.3B
– –
-20,000
Closed -$1.67M
THS
460
DELISTED
Treehouse Foods
THS
– –
-40,300
Closed -$951K
TSEM icon
461
Tower Semiconductor
TSEM
$29.4B
– –
-7,411
Closed -$870K
VEON icon
462
VEON
VEON
$3.6B
– –
-19,300
Closed -$1.01M
VPG icon
463
Vishay Precision Group
VPG
$1.47B
– –
-10,900
Closed -$420K
WIX icon
464
WIX.com
WIX
$2.04B
– –
-11,000
Closed -$920K
XLU icon
465
CALL
State Street Utilities Select Sector SPDR ETF
XLU
$24B
– –
-15,000
Closed -$640K
XLU icon
466
PUT
State Street Utilities Select Sector SPDR ETF
XLU
$24B
– –
-15,000
Closed -$640K
XME icon
467
PUT
State Street SPDR S&P Metals & Mining ETF
XME
$4.11B
– –
-20,000
Closed -$2.07M
MRNOW
468
Murano Global Investments PLC Warrants
MRNOW
$309K
– –
-69,690
Closed -$2.09K
OKLO
469
PUT
Oklo
OKLO
$7.66B
– –
-9,900
Closed -$710K
CCIX
470
Churchill Capital Corp IX
CCIX
$399M
– –
-108,850
Closed -$1.16M
AAM.WS
471
DELISTED
AA Mission Acquisition Corp Warrants
AAM.WS
– –
-125,000
Closed -$21.3K
FTW
472
Presidio Production Co
FTW
$355M
– –
-100,000
Closed -$1.05M
TSSI
473
TSS Inc
TSSI
$294M
– –
-50,000
Closed -$354K
BACQR
474
DELISTED
Inflection Point Acquisition Corp IV Right
BACQR
– –
-348,231
Closed -$258K
NTWOW
475
Newbury Street II Acquisition Corp Warrant
NTWOW
– –
-198,253
Closed -$49.6K
17 18
19
20 21

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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.