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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
+1.51%
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
$1.24B
AUM Growth
+$9.76M
Cap. Flow
-$461M
Cap. Flow %
-37.16%
Top 10 Hldgs %
20.77%
Holding
481
New
139
Increased
48
Reduced
70
Closed
71

Top Buys

Rank Stock Value
1
SUNC
SunocoCorp LLC
SUNC
+$5.29M
2
BTI icon
British American Tobacco
BTI
+$4.93M
3
BIP icon
Brookfield Infrastructure Partners
BIP
+$4.35M
4
BEP icon
Brookfield Renewable
BEP
+$3.69M
5
NGD
New Gold Inc
NGD
+$3.63M

Top Sells

Rank Stock Value
1
GLD icon
SPDR Gold Trust
GLD
+$26.6M
2
CORZ icon
Core Scientific
CORZ
+$12M
3
SLV icon
iShares Silver Trust
SLV
+$6.83M
4
SPRY icon
ARS Pharmaceuticals
SPRY
+$5.95M
5
TLNCU
Talon Capital Corp Units
TLNCU
+$4.52M

Sector Composition

Rank Sector Weight
1 Financials 6.98%
2 Materials 2.32%
3 Technology 1.78%
4 Communication Services 1.46%
5 Consumer Discretionary 1.3%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AMZN icon
51
Amazon
AMZN
$2.48T
$2.93M 0.24%
12,708
+3,200
+34% +$732K
OPEN icon
52
PUT
Opendoor
OPEN
$3.8B
$2.92M 0.23%
500,000
-68,333
-12% -$490K
SOLS
53
PUT
Solstice Advanced Materials
SOLS
$9.1B
$2.91M 0.23%
+60,000
New +$2.82M
APP icon
54
Applovin
APP
$140B
$2.85M 0.23%
4,232
-1,556
-27% -$980K
IBIT icon
55
iShares Bitcoin Trust
IBIT
$47.4B
$2.85M 0.23%
57,322
-18,778
-25% -$1.07M
IPCX
56
Inflection Point Acquisition Corp III
IPCX
$308M
$2.8M 0.23%
276,543
+28,477
+11% +$289K
JENA
57
Jena Acquisition Corp II
JENA
$301M
$2.78M 0.22%
273,000
-2,000
-0.7% -$20.4K
IBIT icon
58
PUT
iShares Bitcoin Trust
IBIT
$47.4B
$2.73M 0.22%
+55,000
New +$3.12M
FYBR
59
DELISTED
Frontier Communications
FYBR
$2.71M 0.22%
71,074
– –
LION icon
60
Lionsgate Studios
LION
$3.85B
$2.7M 0.22%
296,069
-84,716
-22% -$603K
CEPF
61
Cantor Equity Partners IV
CEPF
$596M
$2.65M 0.21%
258,141
+5,500
+2% +$57.2K
FNV icon
62
Franco-Nevada
FNV
$40.6B
$2.59M 0.21%
12,500
+1,000
+9% +$203K
HYAC
63
DELISTED
Haymaker Acquisition Corp 4
HYAC
$2.58M 0.21%
226,442
+26,642
+13% +$302K
FAC
64
Factorial Energy Inc
FAC
$500M
$2.58M 0.21%
+250,000
New +$2.54M
WENN
65
Wen Acquisition Corp
WENN
$388M
$2.55M 0.21%
252,663
+50,000
+25% +$509K
GDXJ icon
66
CALL
VanEck Junior Gold Miners ETF
GDXJ
$6.99B
$2.5M 0.2%
22,000
-18,000
-45% -$1.86M
SBXE.U
67
SilverBox Corp V Units
SBXE.U
$2.45M 0.2%
+243,400
New +$2.45M
RGLD icon
68
Royal Gold
RGLD
$16.6B
$2.36M 0.19%
+10,625
New +$2.11M
HCMA
69
HCM III Acquisition Corp
HCMA
$347M
$2.36M 0.19%
234,602
-65,398
-22% -$666K
GROY.WS icon
70
Gold Royalty Corp Warrants
GROY.WS
$153M
$2.34M 0.19%
1,183,387
+37,965
+3% +$67.9K
CFLT
71
DELISTED
Confluent
CFLT
$2.27M 0.18%
+74,997
New +$1.84M
HOOD icon
72
PUT
Robinhood
HOOD
$83.3B
$2.26M 0.18%
+20,000
New +$2.6M
GENI icon
73
Genius Sports
GENI
$1.95B
$2.25M 0.18%
203,734
-37,027
-15% -$404K
DAAQ
74
Digital Asset Acquisition Corp
DAAQ
$239M
$2.22M 0.18%
218,397
– –
CRAQ
75
Cal Redwood Acquisition Corp
CRAQ
$2.18M 0.18%
215,031
– –
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
Luxor Capital Group New York $1.43B AUM 30.88% 1-Year Est. Return
CCM
Callodine Capital Management Boston, Massachusetts $1.43B AUM 8.74% 1-Year Est. Return
TS
Triglav Skladi Ljubljana, Slovenia $1.43B AUM 39.24% 1-Year Est. Return
SMA
Sage Mountain Advisors Atlanta, Georgia $1.43B AUM 16.47% 1-Year Est. Return
SCA
Stonebridge Capital Advisors St Paul, Minnesota $1.43B AUM 21.98% 1-Year Est. Return

K2 Principal Fund's Q4 2025 Portfolio in Review

As of Q4 2025, K2 Principal Fund held 481 positions worth $1.24B, up 0.79% from $1.23B the previous quarter. Its ten largest holdings account for 21% of the portfolio.

K2 Principal Fund withdrew a net $461M in Q4 2025, closing 71 positions and reducing 70 holdings. Its most notable exit was SPDR Gold Trust, an estimated $26.6M position sold in full.

By sector, the portfolio is most concentrated in Financials at 7% of assets, up from 6.5% a quarter earlier, followed by Materials and Technology.

Against the trend, K2 Principal Fund opened a new position in SunocoCorp LLC worth $5.18M.

  • K2 Principal Fund's largest Q4 2025 buy was SunocoCorp LLC: 105,090 shares worth $5.18M.
  • K2 Principal Fund added most to British American Tobacco in Q4 2025, an estimated $4.93M increase.
  • K2 Principal Fund's biggest Q4 2025 reduction was iShares Silver Trust, cutting an estimated $6.83M.
  • K2 Principal Fund fully exited SPDR Gold Trust in Q4 2025, selling an estimated $26.6M.
  • K2 Principal Fund's ten largest holdings make up 21% of its $1.24B portfolio in Q4 2025.
  • K2 Principal Fund opened 139 new positions and closed 71 in Q4 2025.
  • K2 Principal Fund's portfolio value rose 0.79% quarter-over-quarter to $1.24B.

Based on K2 Principal Fund's 13F filing for Q4 2025, filed 13 Feb 2026.