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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
GPACU
201
General Purpose Acquisition Corp Units
GPACU
$209M
$944K 0.07%
94,300
-5,700
-6% -$57.1K
NPAC
202
New Providence Acquisition Corp III
NPAC
$399M
$920K 0.06%
+89,644
New +$923K
ATII
203
Archimedes Tech SPAC Partners II Co
ATII
$317M
$915K 0.06%
87,900
– –
WIX icon
204
CALL
WIX.com
WIX
$2.04B
$901K 0.06%
+10,000
New +$836K
MPX
205
DELISTED
Marine Products Corp
MPX
$874K 0.06%
+120,216
New +$992K
MBC icon
206
MasterBrand
MBC
$1.08B
$873K 0.06%
105,046
+91,530
+677% +$989K
SERV
207
PUT
Serve Robotics
SERV
$429M
$844K 0.06%
+100,000
New +$1.08M
DELL icon
208
PUT
Dell
DELL
$284B
$821K 0.06%
+5,000
New +$666K
BACC
209
Blue Acquisition Corp
BACC
$294M
$807K 0.06%
+79,015
New +$807K
BTU icon
210
Peabody Energy
BTU
$2.9B
$801K 0.06%
+24,311
New +$849K
DRVN icon
211
Driven Brands
DRVN
$2.26B
$786K 0.05%
+62,368
New +$878K
INSP icon
212
CALL
Inspire Medical Systems
INSP
$1.46B
$774K 0.05%
+15,000
New +$1.05M
OIM
213
OneIM Acquisition Corp
OIM
$363M
$769K 0.05%
+77,232
New +$773K
COPX icon
214
CALL
Global X Copper Miners ETF NEW
COPX
$7.19B
$764K 0.05%
+10,000
New +$828K
CEPS
215
Cantor Equity Partners VI
CEPS
$758K 0.05%
+75,000
New +$759K
PL.WS
216
DELISTED
Planet Labs PBC Warrants
PL.WS
$726K 0.05%
44,114
-176,401
-80% -$2.48M
CRBG icon
217
PUT
Corebridge Financial
CRBG
$13.9B
$716K 0.05%
+30,000
New +$840K
KMB icon
218
Kimberly-Clark
KMB
$35.6B
$715K 0.05%
+7,412
New +$759K
CODI icon
219
Compass Diversified
CODI
$746M
$714K 0.05%
+90,891
New +$579K
AGYS icon
220
PUT
Agilysys
AGYS
$2.68B
$711K 0.05%
+10,000
New +$868K
TIC
221
TIC Solutions Inc
TIC
$1.54B
$703K 0.05%
106,908
-8,381
-7% -$78.8K
MRK icon
222
Merck
MRK
$322B
$684K 0.05%
5,684
– –
HYAC.WS
223
DELISTED
Haymaker Acquisition Corp 4 Warrants
HYAC.WS
$682K 0.05%
231,072
+91,985
+66% +$171K
RAAQ
224
DELISTED
Real Asset Acquisition Corp
RAAQ
$670K 0.05%
63,857
-38,577
-38% -$402K
AVGO icon
225
Broadcom
AVGO
$1.87T
$665K 0.05%
+2,150
New +$707K
7 8
9
10 11

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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.