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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
CRNC icon
176
CALL
Cerence
CRNC
$359M
$535K 0.04%
+50,000
New +$549K
PLYM
177
DELISTED
Plymouth Industrial REIT
PLYM
$530K 0.04%
24,204
-7,796
-24% -$171K
CLNE icon
178
Clean Energy Fuels
CLNE
$416M
$525K 0.04%
+250,000
New +$612K
FCX icon
179
CALL
Freeport-McMoran
FCX
$86.2B
$508K 0.04%
10,000
– –
ITHAU
180
ITHAX Acquisition Corp III Units
ITHAU
$499K 0.04%
+50,000
New +$498K
LION icon
181
CALL
Lionsgate Studios
LION
$3.8B
$457K 0.04%
+50,000
New +$356K
GDX icon
182
CALL
VanEck Gold Miners ETF
GDX
$22.5B
$429K 0.03%
+5,000
New +$395K
CAMT icon
183
Camtek
CAMT
$5.92B
$425K 0.03%
+4,000
New +$449K
VPG icon
184
Vishay Precision Group
VPG
$1.08B
$420K 0.03%
10,900
+900
+9% +$31.8K
AEIS icon
185
PUT
Advanced Energy
AEIS
$10.1B
$419K 0.03%
+2,000
New +$407K
ROK icon
186
Rockwell Automation
ROK
$51.1B
$404K 0.03%
1,039
-711
-41% -$267K
PFSI icon
187
PennyMac Financial
PFSI
$4.47B
$396K 0.03%
3,002
– –
ADX icon
188
Adams Diversified Equity Fund
ADX
$3.01B
$393K 0.03%
16,851
+331
+2% +$7.58K
ACRE
189
Ares Commercial Real Estate
ACRE
$247M
$370K 0.03%
+77,377
New +$376K
KLIC icon
190
Kulicke & Soffa
KLIC
$4.34B
$364K 0.03%
+8,000
New +$338K
WLACW
191
DELISTED
Willow Lane Acquisition Corp Warrants
WLACW
$364K 0.03%
81,153
-293,221
-78% -$1.04M
AMKR icon
192
Amkor Technology
AMKR
$10.6B
$355K 0.03%
+9,000
New +$320K
TSSI
193
TSS Inc
TSSI
$243M
$354K 0.03%
+50,000
New +$646K
VBNK
194
VersaBank
VBNK
$623M
$347K 0.03%
23,158
-19,344
-46% -$244K
NNAVW
195
DELISTED
NextNav Inc Warrant
NNAVW
$344K 0.03%
48,080
– –
P
196
Everpure Inc
P
$23B
$342K 0.03%
+5,102
New +$426K
RVT icon
197
Royce Value Trust
RVT
$2.19B
$330K 0.03%
20,503
+666
+3% +$10.7K
SLV icon
198
PUT
iShares Silver Trust
SLV
$27.7B
$322K 0.03%
5,000
-45,000
-90% -$2.25M
BDJ icon
199
BlackRock Enhanced Equity Dividend Trust
BDJ
$1.7B
$313K 0.03%
32,984
– –
LULU icon
200
lululemon athletica
LULU
$13.5B
$312K 0.03%
+1,500
New +$272K
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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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.