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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
PLUG icon
151
Plug Power
PLUG
$2.73B
$887K 0.07%
450,000
+300,000
+200% +$783K
TSEM icon
152
Tower Semiconductor
TSEM
$22.9B
$870K 0.07%
7,411
-6,101
-45% -$588K
CHEC
153
Chenghe Acquisition III Co
CHEC
$805K 0.06%
+80,760
New +$805K
KVUE icon
154
Kenvue
KVUE
$37.9B
$797K 0.06%
+46,193
New +$755K
NVDA icon
155
NVIDIA
NVDA
$4.77T
$746K 0.06%
4,000
– –
CCCX
156
DELISTED
Churchill Capital Corp X
CCCX
$723K 0.06%
46,340
-990
-2% -$16.6K
OKLO
157
PUT
Oklo
OKLO
$6.89B
$710K 0.06%
+9,900
New +$1.1M
TER icon
158
Teradyne
TER
$50.2B
$709K 0.06%
3,664
-8,336
-69% -$1.43M
CMCO icon
159
Columbus McKinnon
CMCO
$467M
$694K 0.06%
+40,225
New +$645K
ITB icon
160
iShares US Home Construction ETF
ITB
$2.41B
$674K 0.05%
+7,000
New +$707K
FFBC icon
161
First Financial Bancorp
FFBC
$3.55B
$665K 0.05%
+26,576
New +$663K
MCGA
162
Yorkville Acquisition Corp
MCGA
$241M
$658K 0.05%
65,000
– –
SLV icon
163
iShares Silver Trust
SLV
$27.6B
$657K 0.05%
10,200
-136,431
-93% -$6.83M
SPCE icon
164
PUT
Virgin Galactic
SPCE
$320M
$642K 0.05%
+200,000
New +$753K
XLU icon
165
CALL
State Street Utilities Select Sector SPDR ETF
XLU
$23.4B
$640K 0.05%
+15,000
New +$664K
XLU icon
166
PUT
State Street Utilities Select Sector SPDR ETF
XLU
$23.4B
$640K 0.05%
+15,000
New +$664K
PGY icon
167
PUT
Pagaya Technologies
PGY
$1.38B
$627K 0.05%
+30,000
New +$764K
APLD icon
168
CALL
Applied Digital
APLD
$7.66B
$613K 0.05%
+25,000
New +$720K
TLT icon
169
iShares 20+ Year Treasury Bond ETF
TLT
$43.1B
$607K 0.05%
+6,966
New +$623K
MRK icon
170
Merck
MRK
$326B
$598K 0.05%
5,684
– –
BTDR icon
171
PUT
Bitdeer Technologies
BTDR
$2.5B
$561K 0.05%
+50,000
New +$806K
HVII
172
Hennessy Capital Investment Corp VII
HVII
$273M
$553K 0.04%
53,442
-299,137
-85% -$3.11M
CLF icon
173
Cleveland-Cliffs
CLF
$6.84B
$548K 0.04%
41,300
+21,300
+107% +$269K
PRCH icon
174
CALL
Porch Group
PRCH
$1.38B
$548K 0.04%
+60,000
New +$723K
MTA
175
Metalla Royalty & Streaming
MTA
$688M
$543K 0.04%
+69,760
New +$502K
5 6
7
8 9

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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 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.