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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
+9.21%
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
$725M
AUM Growth
-$63M
Cap. Flow
-$143M
Cap. Flow %
-19.69%
Top 10 Hldgs %
22.96%
Holding
394
New
118
Increased
38
Reduced
57
Closed
98

Top Buys

Rank Stock Value
1
MAG
MAG Silver
MAG
+$5.72M
2
GTEN
Gores Holdings X
GTEN
+$3.99M
3
JNPR
Juniper Networks
JNPR
+$3.58M
4
RAC
Rithm Acquisition Corp
RAC
+$3.5M
5
CORZ icon
Core Scientific
CORZ
+$3.47M

Top Sells

Rank Stock Value
1
GLD icon
SPDR Gold Trust
GLD
+$16.8M
2
HVII
Hennessy Capital Investment Corp VII
HVII
+$5.97M
3
SEI
Solaris Energy Infrastructure
SEI
+$5.9M
4
RAC.U
Rithm Acquisition Corp Units
RAC.U
+$3.54M
5
SVCC
Stellar V Capital Corp
SVCC
+$3.4M

Sector Composition

Rank Sector Weight
1 Financials 11.62%
2 Technology 4.89%
3 Consumer Discretionary 1.89%
4 Energy 1.63%
5 Communication Services 1.35%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PMTR
51
Perimeter Acquisition Corp I
PMTR
$322M
$2.51M 0.35%
+247,237
New +$2.51M
BACCU
52
Blue Acquisition Corp Unit
BACCU
$2.51M 0.35%
+249,900
New +$2.51M
TACH
53
Titan Acquisition Corp
TACH
$360M
$2.47M 0.34%
+245,600
New +$2.47M
RDAG
54
Republic Digital Acquisition Co
RDAG
$388M
$2.45M 0.34%
+238,720
New +$2.47M
GENI icon
55
Genius Sports
GENI
$1.73B
$2.4M 0.33%
+230,364
New +$2.3M
WENNU
56
Wen Acquisition Corp Unit
WENNU
$2.39M 0.33%
+226,317
New +$2.4M
DAAQ
57
Digital Asset Acquisition Corp
DAAQ
$239M
$2.38M 0.33%
+226,951
New +$2.4M
AMZN icon
58
Amazon
AMZN
$2.5T
$2.33M 0.32%
10,608
-3,764
-26% -$745K
CEPT
59
DELISTED
Cantor Equity Partners II
CEPT
$2.3M 0.32%
+208,586
New +$2.36M
IPCX
60
Inflection Point Acquisition Corp III
IPCX
$359M
$2.27M 0.31%
+223,166
New +$2.28M
PDS
61
Precision Drilling
PDS
$1.09B
$2.24M 0.31%
47,460
-13,986
-23% -$622K
GLXY
62
PUT
Galaxy Digital Inc
GLXY
$4.34B
$2.24M 0.31%
+75,000
New +$1.52M
HYAC
63
DELISTED
Haymaker Acquisition Corp 4
HYAC
$2.22M 0.31%
+199,800
New +$2.21M
IJR icon
64
PUT
iShares Core S&P Small-Cap ETF
IJR
$109B
$2.19M 0.3%
20,000
-10,000
-33% -$1.03M
APP icon
65
Applovin
APP
$132B
$2.16M 0.3%
+6,167
New +$2M
CRAQ
66
Cal Redwood Acquisition Corp
CRAQ
$2.14M 0.3%
+215,031
New +$2.15M
SIMA
67
SIM Acquisition Corp I
SIMA
$89.9M
$2.14M 0.3%
+205,292
New +$2.12M
BRR
68
ProCap Financial Inc
BRR
$161M
$2.12M 0.29%
+200,000
New +$2.37M
CAEP
69
DELISTED
Cantor Equity Partners III
CAEP
$2.11M 0.29%
+200,000
New +$2.11M
OACC
70
Oaktree Acquisition Corp III Life Sciences
OACC
$263M
$2.04M 0.28%
195,292
– –
HYG icon
71
CALL
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.3B
$2.02M 0.28%
+25,000
New +$1.97M
GFR icon
72
Greenfire Resources
GFR
$817M
$2M 0.28%
447,600
+345,000
+336% +$1.62M
IMO icon
73
CALL
Imperial Oil
IMO
$62.1B
$1.99M 0.27%
+25,000
New +$1.79M
LOKV
74
DELISTED
Live Oak Acquisition Corp V
LOKV
$1.91M 0.26%
+178,100
New +$1.83M
WIX icon
75
WIX.com
WIX
$2.15B
$1.9M 0.26%
+12,004
New +$1.93M
1 2
3
4 5

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SC
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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 Q2 2025 Portfolio in Review

As of Q2 2025, K2 Principal Fund held 394 positions worth $725M, down 8% from $788M the previous quarter. Its ten largest holdings account for 23% of the portfolio.

K2 Principal Fund withdrew a net $143M in Q2 2025, closing 98 positions and reducing 57 holdings. Its most notable exit was Solaris Energy Infrastructure, an estimated $5.9M position sold in full.

By sector, the portfolio is most concentrated in Financials at 12% of assets, up from 6.1% a quarter earlier, followed by Technology and Consumer Discretionary.

Against the trend, K2 Principal Fund opened a new position in MAG Silver worth $6.8M.

  • K2 Principal Fund's largest Q2 2025 buy was MAG Silver: 321,870 shares worth $6.8M.
  • K2 Principal Fund added most to Kodiak AI in Q2 2025, an estimated $2.97M increase.
  • K2 Principal Fund's biggest Q2 2025 reduction was SPDR Gold Trust, cutting an estimated $16.8M.
  • K2 Principal Fund fully exited Solaris Energy Infrastructure in Q2 2025, selling an estimated $5.9M.
  • K2 Principal Fund's ten largest holdings make up 23% of its $725M portfolio in Q2 2025.
  • K2 Principal Fund opened 118 new positions and closed 98 in Q2 2025.
  • K2 Principal Fund's portfolio value fell 8% quarter-over-quarter to $725M.

Based on K2 Principal Fund's 13F filing for Q2 2025, filed 14 Aug 2025.