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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
+9.21%
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
$725M
AUM Growth
-$63M
Cap. Flow
-$143M
Cap. Flow %
-19.69%
Top 10 Hldgs %
22.96%
Holding
394
New
118
Increased
38
Reduced
57
Closed
98

Top Buys

Rank Stock Value
1
MAG
MAG Silver
MAG
+$5.72M
2
GTEN
Gores Holdings X
GTEN
+$3.99M
3
JNPR
Juniper Networks
JNPR
+$3.58M
4
RAC
Rithm Acquisition Corp
RAC
+$3.5M
5
CORZ icon
Core Scientific
CORZ
+$3.47M

Top Sells

Rank Stock Value
1
GLD icon
SPDR Gold Trust
GLD
+$16.8M
2
HVII
Hennessy Capital Investment Corp VII
HVII
+$5.97M
3
SEI
Solaris Energy Infrastructure
SEI
+$5.9M
4
RAC.U
Rithm Acquisition Corp Units
RAC.U
+$3.54M
5
SVCC
Stellar V Capital Corp
SVCC
+$3.4M

Sector Composition

Rank Sector Weight
1 Financials 11.62%
2 Technology 4.89%
3 Consumer Discretionary 1.89%
4 Energy 1.63%
5 Communication Services 1.35%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ADX icon
151
Adams Diversified Equity Fund
ADX
$3.11B
$351K 0.05%
16,182
+356
+2% +$7.02K
GROY.WS icon
152
Gold Royalty Corp Warrants
GROY.WS
$151M
$347K 0.05%
990,295
+2,000
+0.2% +$589
KDKRW
153
Kodiak AI Warrants
KDKRW
$340K 0.05%
308,753
+49,800
+19% +$42.7K
HVIIR
154
Hennessy Capital Investment Corp VII Rights
HVIIR
$326K 0.05%
1,086,931
+363
+0% +$103
ASGI
155
abrdn Global Infrastructure Income Fund
ASGI
$762M
$306K 0.04%
15,000
– –
LYV icon
156
PUT
Live Nation Entertainment
LYV
$41.7B
$303K 0.04%
+2,000
New +$275K
FACTU
157
FACT II Acquisition Corp Unit
FACTU
$300K 0.04%
30,000
– –
RVT icon
158
Royce Value Trust
RVT
$2.21B
$293K 0.04%
19,490
+382
+2% +$5.48K
BDJ icon
159
BlackRock Enhanced Equity Dividend Trust
BDJ
$1.7B
$293K 0.04%
32,984
– –
DCBO
160
Docebo
DCBO
$512M
$292K 0.04%
+10,100
New +$286K
FLDDW
161
Fold Holdings Warrant
FLDDW
$1.3M
$270K 0.04%
380,780
-9,403
-2% -$6.42K
TAC icon
162
CALL
TransAlta
TAC
$4.25B
$270K 0.04%
25,000
– –
BTX
163
BlackRock Technology and Private Equity Term Trust
BTX
$938M
$256K 0.04%
34,843
-157
-0.4% -$1.04K
BRRWW
164
ProCap Financial Inc
BRRWW
$249K 0.03%
+150,000
New +$275K
APP icon
165
CALL
Applovin
APP
$139B
$245K 0.03%
+700
New +$227K
ECF
166
Ellsworth Growth & Income Fund
ECF
$168M
$244K 0.03%
23,785
– –
CII icon
167
BlackRock Enhanced Captial and Income Fund
CII
$984M
$228K 0.03%
10,682
-654
-6% -$12.7K
WLACW
168
DELISTED
Willow Lane Acquisition Corp Warrants
WLACW
$227K 0.03%
630,559
+58,365
+10% +$15.7K
DMA
169
Destra Multi-Alternative Fund
DMA
$68.8M
$216K 0.03%
24,709
+5,007
+25% +$42.4K
SABA
170
Saba Capital Income & Opportunities Fund II
SABA
$220M
$211K 0.03%
23,000
– –
LCID icon
171
Lucid Motors
LCID
$2.54B
$197K 0.03%
+9,360
New +$224K
DAAQW
172
Digital Asset Acquisition Corp Warrant
DAAQW
$2.73M
$195K 0.03%
+228,980
New +$217K
NETDW
173
DELISTED
Nabors Energy Transition Corp II Warrant
NETDW
$181K 0.03%
376,983
-400
-0.1% -$186
ALDFW
174
Aldel Financial II Inc Warrants
ALDFW
$3.8M
$155K 0.02%
298,680
– –
BEAGR
175
Bold Eagle Acquisition Corp Right
BEAGR
$155K 0.02%
500,907
-20,449
-4% -$5.92K
5 6
7
8 9

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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
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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 Q2 2025 Portfolio in Review

As of Q2 2025, K2 Principal Fund held 394 positions worth $725M, down 8% from $788M the previous quarter. Its ten largest holdings account for 23% of the portfolio.

K2 Principal Fund withdrew a net $143M in Q2 2025, closing 98 positions and reducing 57 holdings. Its most notable exit was Solaris Energy Infrastructure, an estimated $5.9M position sold in full.

By sector, the portfolio is most concentrated in Financials at 12% of assets, up from 6.1% a quarter earlier, followed by Technology and Consumer Discretionary.

Against the trend, K2 Principal Fund opened a new position in MAG Silver worth $6.8M.

  • K2 Principal Fund's largest Q2 2025 buy was MAG Silver: 321,870 shares worth $6.8M.
  • K2 Principal Fund added most to Kodiak AI in Q2 2025, an estimated $2.97M increase.
  • K2 Principal Fund's biggest Q2 2025 reduction was SPDR Gold Trust, cutting an estimated $16.8M.
  • K2 Principal Fund fully exited Solaris Energy Infrastructure in Q2 2025, selling an estimated $5.9M.
  • K2 Principal Fund's ten largest holdings make up 23% of its $725M portfolio in Q2 2025.
  • K2 Principal Fund opened 118 new positions and closed 98 in Q2 2025.
  • K2 Principal Fund's portfolio value fell 8% quarter-over-quarter to $725M.

Based on K2 Principal Fund's 13F filing for Q2 2025, filed 14 Aug 2025.