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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
DBCA
76
D. Boral Acquisition I Corp
DBCA
$431M
$2.72M 0.19%
+276,220
New +$2.72M
GLNG icon
77
CALL
Golar LNG
GLNG
$5.07B
$2.71M 0.19%
+50,000
New +$2.21M
RGLD icon
78
Royal Gold
RGLD
$16.9B
$2.7M 0.19%
10,625
– –
CEPF
79
Cantor Equity Partners IV
CEPF
$598M
$2.63M 0.18%
258,341
+200
+0.1% +$2.07K
ECVT icon
80
CALL
Ecovyst
ECVT
$1.41B
$2.57M 0.18%
+200,000
New +$2.26M
DCH
81
CALL
Dauch Corp
DCH
$1.33B
$2.57M 0.18%
+433,400
New +$3.01M
TLNC
82
Talon Capital Corp
TLNC
$350M
$2.55M 0.18%
250,000
-49,752
-17% -$504K
TMTSU
83
Spartacus Acquisition Corp II Unit
TMTSU
$2.51M 0.18%
+250,000
New +$2.51M
SBXE
84
SilverBox Corp V
SBXE
$2.41M 0.17%
+243,400
New +$2.42M
SEMR
85
DELISTED
Semrush
SEMR
$2.39M 0.17%
+200,000
New +$2.38M
PZZA icon
86
Papa John's
PZZA
$999M
$2.37M 0.17%
+73,200
New +$2.54M
QURE icon
87
CALL
uniQure
QURE
$2.71B
$2.37M 0.17%
+145,000
New +$2.94M
RDDT icon
88
Reddit
RDDT
$32.5B
$2.37M 0.17%
17,606
+11,169
+174% +$1.9M
PUMP icon
89
ProPetro Holding
PUMP
$1.51B
$2.34M 0.16%
+162,208
New +$1.94M
GDX icon
90
CALL
VanEck Gold Miners ETF
GDX
$22.9B
$2.29M 0.16%
25,000
+20,000
+400% +$1.97M
CAEP
91
DELISTED
Cantor Equity Partners III
CAEP
$2.25M 0.16%
217,767
-94,900
-30% -$972K
MSFT icon
92
Microsoft
MSFT
$2.83T
$2.22M 0.16%
+6,000
New +$2.51M
CRAQ
93
Cal Redwood Acquisition Corp
CRAQ
$2.18M 0.15%
215,031
– –
TACO
94
Berto Acquisition Corp
TACO
$393M
$2.14M 0.15%
208,300
-146,904
-41% -$1.5M
FNV icon
95
Franco-Nevada
FNV
$41.3B
$2.13M 0.15%
8,625
-3,875
-31% -$959K
SAAQ
96
Space Asset Acquisition Corp
SAAQ
$318M
$2.11M 0.15%
+212,161
New +$2.11M
OACC
97
Oaktree Acquisition Corp III Life Sciences
OACC
$2.07M 0.14%
195,292
– –
ADP icon
98
PUT
Automatic Data Processing
ADP
$97.1B
$2.03M 0.14%
+10,000
New +$2.29M
IPFXU
99
Inflection Point Acquisition Corp VI Units
IPFXU
$2.02M 0.14%
+200,000
New +$2.02M
BCSS
100
Bain Capital GSS Investment Corp
BCSS
$596M
$2.02M 0.14%
+200,000
New +$2.03M
2 3
4
5 6

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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.