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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
EVOX
101
Evolution Global Acquisition Corp
EVOX
$322M
$1.48M 0.12%
+150,000
New +$1.48M
RDDT icon
102
Reddit
RDDT
$35B
$1.48M 0.12%
6,437
+956
+17% +$201K
DSACU
103
Daedalus Special Acquisition Corp Unit
DSACU
$1.44M 0.12%
+143,620
New +$1.44M
AIOT
104
PowerFleet Inc
AIOT
$521M
$1.43M 0.12%
268,846
+18,846
+8% +$96.4K
LWACU
105
LightWave Acquisition Corp Units
LWACU
$1.42M 0.11%
139,300
-5,000
-3% -$50.6K
RTAC
106
Renatus Tactical Acquisition Corp I
RTAC
$326M
$1.38M 0.11%
129,458
-5,252
-4% -$57.3K
ABVX
107
CALL
Abivax
ABVX
$10.8B
$1.35M 0.11%
+10,000
New +$1.09M
P
108
PUT
Everpure Inc
P
$23.6B
$1.34M 0.11%
+20,000
New +$1.67M
CORZW icon
109
Core Scientific Inc Tranche 1 Warrants
CORZW
$1.2B
$1.34M 0.11%
158,192
– –
FCX icon
110
Freeport-McMoran
FCX
$84.8B
$1.31M 0.11%
+25,800
New +$1.12M
NKE icon
111
PUT
Nike
NKE
$63.2B
$1.27M 0.1%
+20,000
New +$1.3M
ENHA
112
Enhanced Group Inc
ENHA
$354M
$1.26M 0.1%
+125,000
New +$1.25M
IAUX.WS
113
i-80 Gold Corp Warrants
IAUX.WS
$110M
$1.24M 0.1%
1,350,000
– –
RANG
114
Range Capital Acquisition Corp
RANG
$1.23M 0.1%
+118,150
New +$1.24M
AQN icon
115
Algonquin Power & Utilities
AQN
$4.66B
$1.23M 0.1%
+200,000
New +$1.19M
CHAC
116
DELISTED
Crane Harbor Acquisition Corp
CHAC
$1.23M 0.1%
+113,825
New +$1.27M
RDAG
117
Republic Digital Acquisition Co
RDAG
$389M
$1.22M 0.1%
120,799
-79,201
-40% -$812K
GENVR
118
Gen Digital Inc Contingent Value Rights
GENVR
$1.21M 0.1%
281,950
+97,676
+53% +$500K
DNMX
119
Dynamix Corp III
DNMX
$269M
$1.19M 0.1%
+120,317
New +$1.19M
TIC
120
TIC Solutions Inc
TIC
$1.59B
$1.17M 0.09%
115,289
+90,289
+361% +$1.01M
CCIX
121
Churchill Capital Corp IX
CCIX
$1.16M 0.09%
108,850
-5,500
-5% -$58.6K
WIX icon
122
WIX.com
WIX
$2.5B
$1.14M 0.09%
+11,000
New +$1.33M
DRDB
123
Roman DBDR Acquisition Corp II
DRDB
$325M
$1.12M 0.09%
107,090
– –
CUBE icon
124
CubeSmart
CUBE
$9.71B
$1.09M 0.09%
+30,100
New +$1.14M
GTEN
125
Gores Holdings X
GTEN
$474M
$1.05M 0.08%
102,849
– –
3 4
5
6 7

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KGI
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SC
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WIM
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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 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.