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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
HUN icon
151
CALL
Huntsman Corp
HUN
$2.25B
$1.33M 0.09%
+100,000
New +$1.21M
RTAC
152
Renatus Tactical Acquisition Corp I
RTAC
$327M
$1.33M 0.09%
129,458
– –
AIOT
153
PowerFleet Inc
AIOT
$509M
$1.33M 0.09%
432,029
+163,183
+61% +$684K
CARS icon
154
Cars.com
CARS
$638M
$1.33M 0.09%
163,259
+85,083
+109% +$870K
GGG icon
155
PUT
Graco
GGG
$12.9B
$1.27M 0.09%
+15,000
New +$1.33M
GDEN
156
DELISTED
Golden Entertainment
GDEN
$1.25M 0.09%
+46,937
New +$1.3M
RANG
157
Range Capital Acquisition Corp
RANG
$1.24M 0.09%
118,150
– –
FLEX icon
158
Flex
FLEX
$46.9B
$1.21M 0.08%
+18,484
New +$1.18M
CNR
159
Core Natural Resources Inc
CNR
$4.36B
$1.19M 0.08%
+11,375
New +$1.08M
INFQ
160
PUT
Infleqtion Inc
INFQ
$2.11B
$1.18M 0.08%
+120,000
New +$1.37M
PUMP icon
161
CALL
ProPetro Holding
PUMP
$1.51B
$1.15M 0.08%
+80,000
New +$956K
STGW icon
162
CALL
Stagwell
STGW
$1.76B
$1.13M 0.08%
+179,900
New +$1.01M
QRVO icon
163
Qorvo
QRVO
$7.65B
$1.12M 0.08%
+14,480
New +$1.17M
ABVX
164
CALL
Abivax
ABVX
$11.4B
$1.11M 0.08%
10,000
– –
EQH icon
165
PUT
Equitable Holdings
EQH
$12.9B
$1.11M 0.08%
+30,000
New +$1.29M
DNMX
166
Dynamix Corp III
DNMX
$269M
$1.1M 0.08%
110,866
-9,451
-8% -$93.8K
TLT icon
167
iShares 20+ Year Treasury Bond ETF
TLT
$42.1B
$1.07M 0.07%
12,366
+5,400
+78% +$475K
GTEN
168
Gores Holdings X
GTEN
$1.05M 0.07%
102,849
– –
LOKV
169
DELISTED
Live Oak Acquisition Corp V
LOKV
$1.04M 0.07%
100,000
-78,100
-44% -$806K
KCHV
170
Kochav Defense Acquisition Corp
KCHV
$356M
$1.02M 0.07%
100,000
– –
BLUW
171
Blue Water Acquisition Corp III
BLUW
$334M
$1.02M 0.07%
100,000
– –
RDAG
172
Republic Digital Acquisition Co
RDAG
$388M
$1.02M 0.07%
100,000
-20,799
-17% -$213K
IPCX
173
Inflection Point Acquisition Corp III
IPCX
$359M
$1.02M 0.07%
100,000
-176,543
-64% -$1.8M
EA icon
174
Electronic Arts
EA
$52.4B
$1.02M 0.07%
+5,000
New +$1.01M
WENN
175
Wen Acquisition Corp
WENN
$388M
$1.02M 0.07%
100,000
-152,663
-60% -$1.55M
5 6
7
8 9

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LCG
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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.