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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
EVAC
101
EQV Ventures Acquisition Corp II
EVAC
$597M
$2.02M 0.14%
200,000
– –
HCMA
102
HCM III Acquisition Corp
HCMA
$2.02M 0.14%
200,000
-34,602
-15% -$350K
PTON icon
103
Peloton Interactive
PTON
$2.61B
$2.01M 0.14%
+468,237
New +$2.28M
HACQU
104
HCM IV Acquisition Corp Unit
HACQU
$254M
$2.01M 0.14%
+200,000
New +$2.01M
SUMAU
105
SUMA Acquisition Corp Units
SUMAU
$158M
$2M 0.14%
+200,000
New +$2M
AEXA
106
American Exceptionalism Acquisition Corp
AEXA
$576M
$2M 0.14%
184,665
+41,262
+29% +$467K
BWIV.U
107
Blue Water Acquisition Corp IV Units
BWIV.U
$1.98M 0.14%
+200,000
New +$1.99M
ASML icon
108
ASML
ASML
$693B
$1.98M 0.14%
+1,500
New +$2.06M
QADRU
109
QDRO Acquisition Corp Units
QADRU
$202M
$1.98M 0.14%
+199,698
New +$1.98M
SVAQ
110
Silicon Valley Acquisition Corp
SVAQ
$294M
$1.98M 0.14%
+200,000
New +$1.98M
GROY.WS icon
111
Gold Royalty Corp Warrants
GROY.WS
$157M
$1.95M 0.14%
1,183,387
– –
CLF icon
112
PUT
Cleveland-Cliffs
CLF
$6.25B
$1.95M 0.14%
230,800
-3,600
-2% -$41.2K
QURE icon
113
uniQure
QURE
$2.71B
$1.94M 0.14%
+118,600
New +$2.4M
BBY icon
114
PUT
Best Buy
BBY
$17.8B
$1.93M 0.13%
+30,000
New +$1.97M
APTV icon
115
Aptiv
APTV
$11.9B
$1.92M 0.13%
+27,656
New +$2.13M
IWM icon
116
iShares Russell 2000 ETF
IWM
$81.2B
$1.89M 0.13%
+7,635
New +$1.97M
SOLS
117
Solstice Advanced Materials
SOLS
$9.67B
$1.88M 0.13%
24,650
-45,160
-65% -$3.1M
NLOP
118
Net Lease Office Properties
NLOP
$173M
$1.85M 0.13%
160,285
+5,785
+4% +$97.2K
PCAP
119
ProCap Acquisition Corp
PCAP
$327M
$1.83M 0.13%
179,990
-18,342
-9% -$187K
PRCH icon
120
Porch Group
PRCH
$1.27B
$1.8M 0.13%
251,564
+141,564
+129% +$1.13M
FRPT icon
121
CALL
Freshpet
FRPT
$2.78B
$1.8M 0.13%
+30,500
New +$2.14M
VACI
122
Viking Acquisition Corp I
VACI
$311M
$1.69M 0.12%
170,301
+20,301
+14% +$202K
ESI icon
123
Element Solutions
ESI
$9.33B
$1.66M 0.12%
+48,600
New +$1.52M
NVT icon
124
nVent Electric
NVT
$25.7B
$1.65M 0.12%
+13,980
New +$1.59M
TXRH icon
125
PUT
Texas Roadhouse
TXRH
$12.5B
$1.65M 0.12%
+10,000
New +$1.8M
3 4
5
6 7

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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.