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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
+17.68%
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
$1.23B
AUM Growth
+$506M
Cap. Flow
-$175M
Cap. Flow %
-14.23%
Top 10 Hldgs %
22.22%
Holding
438
New
98
Increased
34
Reduced
62
Closed
100

Top Buys

Rank Stock Value
1
GLD icon
SPDR Gold Trust
GLD
+$19.1M
2
EVAC
EQV Ventures Acquisition Corp II
EVAC
+$4.81M
3
XPOF icon
Xponential Fitness
XPOF
+$4.73M
4
CORZ icon
Core Scientific
CORZ
+$4.72M
5
SLV icon
iShares Silver Trust
SLV
+$4.57M

Top Sells

Rank Stock Value
1
MAG
MAG Silver
MAG
+$6.8M
2
IBIT icon
iShares Bitcoin Trust
IBIT
+$6.37M
3
HES
Hess
HES
+$4.54M
4
CCIR
Cohen Circle Acquisition Corp. I Class A Ordinary Shares
CCIR
+$4.5M
5
CLBR
Colombier Acquisition Corp II
CLBR
+$4.39M

Sector Composition

Rank Sector Weight
1 Financials 6.54%
2 Technology 3.1%
3 Consumer Discretionary 1.77%
4 Real Estate 1.75%
5 Communication Services 1.38%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PDS
51
Precision Drilling
PDS
$1.01B
$2.91M 0.24%
51,600
+4,140
+9% +$226K
OMC icon
52
CALL
Omnicom Group
OMC
$24.6B
$2.85M 0.23%
35,000
-25,100
-42% -$1.9M
LATAU
53
Galata Acquisition Corp. II Units
LATAU
$2.82M 0.23%
+282,100
New +$2.82M
JENA
54
Jena Acquisition Corp II
JENA
$301M
$2.79M 0.23%
+275,000
New +$2.79M
FYBR
55
DELISTED
Frontier Communications
FYBR
$2.65M 0.22%
71,074
– –
TACO
56
Berto Acquisition Corp
TACO
$393M
$2.65M 0.22%
255,204
-49,332
-16% -$511K
LION icon
57
Lionsgate Studios
LION
$3.85B
$2.63M 0.21%
+380,785
New +$2.45M
B
58
Barrick Mining
B
$61.5B
$2.62M 0.21%
+79,845
New +$2.02M
CEPF
59
Cantor Equity Partners IV
CEPF
$596M
$2.57M 0.21%
+252,641
New +$2.56M
FNV icon
60
Franco-Nevada
FNV
$40.6B
$2.56M 0.21%
+11,500
New +$2.07M
TLN
61
Talen Energy Corp
TLN
$15.6B
$2.55M 0.21%
6,000
-8,100
-57% -$2.93M
PMTR
62
Perimeter Acquisition Corp I
PMTR
$321M
$2.51M 0.2%
247,237
– –
IPCX
63
Inflection Point Acquisition Corp III
IPCX
$308M
$2.5M 0.2%
248,066
+24,900
+11% +$253K
WLAC
64
DELISTED
Willow Lane Acquisition Corp
WLAC
$2.28M 0.19%
196,853
-215,560
-52% -$2.3M
HYAC
65
DELISTED
Haymaker Acquisition Corp 4
HYAC
$2.27M 0.18%
199,800
– –
PCAP
66
ProCap Acquisition Corp
PCAP
$327M
$2.23M 0.18%
+217,301
New +$2.24M
DAAQ
67
Digital Asset Acquisition Corp
DAAQ
$239M
$2.23M 0.18%
218,397
-8,554
-4% -$88.2K
DCBO
68
Docebo
DCBO
$533M
$2.18M 0.18%
79,910
+69,810
+691% +$2.11M
VFC icon
69
VF Corp
VFC
$7.16B
$2.15M 0.17%
149,100
+49,100
+49% +$660K
CRAQ
70
Cal Redwood Acquisition Corp
CRAQ
$2.15M 0.17%
215,031
– –
SAND
71
DELISTED
Sandstorm Gold
SAND
$2.13M 0.17%
170,000
– –
SLV icon
72
PUT
iShares Silver Trust
SLV
$27.6B
$2.12M 0.17%
+50,000
New +$1.8M
AMZN icon
73
Amazon
AMZN
$2.48T
$2.09M 0.17%
9,508
-1,100
-10% -$249K
GFR icon
74
Greenfire Resources
GFR
$771M
$2.07M 0.17%
447,600
– –
OACC
75
Oaktree Acquisition Corp III Life Sciences
OACC
$264M
$2.05M 0.17%
195,292
– –
1 2
3
4 5

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KGI
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SC
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WIM
Weitz Investment Management Omaha, Nebraska $1.43B AUM 0.51% 1-Year Est. Return
LCG
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CCM
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TS
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SMA
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SCA
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K2 Principal Fund's Q3 2025 Portfolio in Review

As of Q3 2025, K2 Principal Fund held 438 positions worth $1.23B, up 70% from $725M the previous quarter. Its ten largest holdings account for 22% of the portfolio.

K2 Principal Fund withdrew a net $175M in Q3 2025, closing 100 positions and reducing 62 holdings. Its most notable exit was MAG Silver, an estimated $6.8M position sold in full.

By sector, the portfolio is most concentrated in Financials at 6.5% of assets, down from 12% a quarter earlier, followed by Technology and Consumer Discretionary.

Against the trend, K2 Principal Fund opened a new position in EQV Ventures Acquisition Corp II worth $4.82M.

  • K2 Principal Fund's largest Q3 2025 buy was EQV Ventures Acquisition Corp II: 483,973 shares worth $4.82M.
  • K2 Principal Fund added most to SPDR Gold Trust in Q3 2025, an estimated $19.1M increase.
  • K2 Principal Fund's biggest Q3 2025 reduction was iShares Bitcoin Trust, cutting an estimated $6.37M.
  • K2 Principal Fund fully exited MAG Silver in Q3 2025, selling an estimated $6.8M.
  • K2 Principal Fund's ten largest holdings make up 22% of its $1.23B portfolio in Q3 2025.
  • K2 Principal Fund opened 98 new positions and closed 100 in Q3 2025.
  • K2 Principal Fund's portfolio value rose 70% quarter-over-quarter to $1.23B.

Based on K2 Principal Fund's 13F filing for Q3 2025, filed 13 Nov 2025.