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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
SPEG
176
Silver Pegasus Acquisition Corp
SPEG
$1.02M 0.07%
100,000
– –
ONCH
177
1RT Acquisition Corp
ONCH
$222M
$1.01M 0.07%
100,000
– –
CEPV
178
Cantor Equity Partners V
CEPV
$1.01M 0.07%
100,000
– –
APXTU
179
Apex Treasury Corp Units
APXTU
$259M
$1.01M 0.07%
100,000
-48,075
-32% -$486K
FCRS
180
FutureCrest Acquisition Corp
FCRS
$367M
$1.01M 0.07%
100,000
– –
HVMC
181
Highview Merger Corp
HVMC
$299M
$1M 0.07%
+100,000
New +$1.01M
MBVI
182
M3-Brigade Acquisition VI Corp
MBVI
$438M
$1M 0.07%
100,000
– –
KCAC.U
183
Kensington Capital Acquisition Corp VI Units
KCAC.U
$1M 0.07%
+100,000
New +$1M
KRAQU
184
KRAKacquisition Corp Unit
KRAQU
$1M 0.07%
+100,000
New +$1.01M
LEGO.U
185
Legato Merger Corp IV Units
LEGO.U
$998K 0.07%
+100,000
New +$1M
SAC
186
Safeguard Acquisition Corp
SAC
$996K 0.07%
+100,000
New +$997K
CAQUU
187
Cambridge Acquisition Corp
CAQUU
$205M
$996K 0.07%
+100,000
New +$994K
TRGSU
188
TRG Latin America Acquisitions Corp Units
TRGSU
$205M
$995K 0.07%
+100,000
New +$998K
CRAN
189
Crane Harbor Acquisition Corp II
CRAN
$475M
$991K 0.07%
+100,000
New +$995K
DSAC
190
Daedalus Special Acquisition Corp
DSAC
$346M
$991K 0.07%
+100,000
New +$996K
VHCP
191
Vine Hill Capital Investment Corp II
VHCP
$306M
$990K 0.07%
+100,000
New +$992K
ADAC
192
American Drive Acquisition Co
ADAC
$990K 0.07%
+100,000
New +$990K
AEAQ
193
Activate Energy Acquisition Corp
AEAQ
$989K 0.07%
+100,000
New +$990K
TWLV
194
Twelve Seas Investment Co III
TWLV
$987K 0.07%
+100,000
New +$990K
SVIV
195
Spring Valley Acquisition Corp IV
SVIV
$314M
$987K 0.07%
+100,000
New +$990K
ZKP
196
Lafayette Digital Acquisition Corp I
ZKP
$390M
$986K 0.07%
+100,000
New +$988K
KYIVW
197
Kyivstar Group Warrant
KYIVW
$978K 0.07%
267,927
-5,574
-2% -$21.3K
QS icon
198
PUT
QuantumScape Corp
QS
$3.15B
$957K 0.07%
+150,000
New +$1.25M
SPHR icon
199
Sphere Entertainment
SPHR
$4.77B
$952K 0.07%
+8,108
New +$848K
IT icon
200
PUT
Gartner
IT
$8.95B
$950K 0.07%
+6,000
New +$1.1M
6 7
8
9 10

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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 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.