K2 Principal Fund, L.P. Top Holdings and 13F Report (2025) About K2 Principal Fund, L.P.Investment ActivityK2 Principal Fund, L.P. has $725.23 million in total holdings as of June 30, 2025.K2 Principal Fund, L.P. owns shares of 281 different stocks, but just 78 companies or ETFs make up 80% of its holdings.Approximately 44.89% of the portfolio was purchased this quarter.About 59.70% of the portfolio was sold this quarter.This quarter, K2 Principal Fund, L.P. has purchased 297 new stocks and bought additional shares in 44 stocks.K2 Principal Fund, L.P. sold shares of 58 stocks and completely divested from 131 stocks this quarter.Largest Holdings SPDR Gold Shares $43,818,092ISHARES BITCOIN TRUST ETF $34,675,465British American Tobacco $20,266,707iShares iBoxx $ High Yield Corporate Bond ETF $18,146,250PELOTON INTERACTIVE INC $15,152,190 Largest New Holdings this Quarter 110448107 - British American Tobacco $20,266,707 Holding464288513 - iShares iBoxx $ High Yield Corporate Bond ETF $18,146,250 Holding21874A106 - CORE SCIENTIFIC INC NEW $12,317,558 Holding29786AAJ5 - ETSY INC $9,722,000 Holding83304AAB2 - SNAP INC $9,585,000 Holding Largest Purchases this Quarter British American Tobacco 428,200 shares (about $20.27M)iShares iBoxx $ High Yield Corporate Bond ETF 225,000 shares (about $18.15M)ISHARES BITCOIN TRUST ETF 261,500 shares (about $16.01M)CORE SCIENTIFIC INC NEW 721,591 shares (about $12.32M)ETSY INC 10,000 shares (about $9.72M) Largest Sales this Quarter Alphabet 77,000 shares (about $13.66M)Vanguard S&P 500 ETF 20,000 shares (about $11.36M)TALEN ENERGY CORP 34,107 shares (about $9.92M)SPDR Gold Shares 24,000 shares (about $7.32M)ARK Innovation ETF 100,000 shares (about $7.03M) Sector Allocation Over TimeMap of 500 Largest Holdings ofK2 Principal Fund, L.P. Selling Neutral Buying Latest 13F Holdings and Changes Since Previous Quarterly FilingIssuer NameHoldings ValueApproximate Purchase/SaleChange in SharesShares Held% of PortfolioSectorGLDSPDR Gold Shares$43,818,092$7,315,920 ▼-14.3%143,7466.0%FinanceISHARES BITCOIN TRUST ETF$34,675,465$16,006,415 ▲85.7%566,5004.8%SHS BEN INTBTIBritish American Tobacco$20,266,707$20,266,707 ▲New Holding428,2002.8%Consumer StaplesHYGiShares iBoxx $ High Yield Corporate Bond ETF$18,146,250$18,146,250 ▲New Holding225,0002.5%ETFPELOTON INTERACTIVE INC$15,152,1900.0%15,6792.1%NOTE 2/1AMERICAN AIRLINES GROUP INC$14,138,410$9,137,911 ▲182.7%14,1371.9%NOTE 6.500 7/0NUTANIX INC$14,091,000$1,409,100 ▼-9.1%10,0001.9%NOTE 0.25010/0FIRST MAJESTIC SILVER CORP$14,063,550$4,849,500 ▲52.6%14,5001.9%NOTE 0.375 1/1DROPBOX INC$13,720,4100.0%13,8591.9%NOTE 3/0TRIPADVISOR INC$13,470,8000.0%14,0001.9%NOTE 0.250 4/0CORE SCIENTIFIC INC NEW$12,317,558$12,317,558 ▲New Holding721,5911.7%COMSPHERE ENTERTAINMENT CO$11,996,9000.0%8,5001.7%NOTE 3.50012/0SLViShares Silver Trust$11,398,194$5,731,907 ▲101.2%347,4001.6%ETFLUMENTUM HLDGS INC$10,765,300$1,537,900 ▲16.7%7,0001.5%NOTE 1.50012/1BLACKBERRY LTD$10,116,4000.0%7,0001.4%NOTE 3.000 2/1ETSY INC$9,722,000$9,722,000 ▲New Holding10,0001.3%NOTE 0.12510/0SNAP INC$9,585,000$9,585,000 ▲New Holding10,0001.3%NOTE 0.750 8/0UPSTART HLDGS INC$9,512,0000.0%10,0001.3%NOTE 0.250 8/1JETBLUE AIRWAYS CORP$9,470,0000.0%10,0001.3%NOTE 0.500 4/0RAPID7 INC$9,286,0000.0%10,0001.3%NOTE 0.250 3/1NICE LTD$9,197,0300.0%9,3211.3%NOTE 9/1COINBASE GLOBAL INC$9,172,800$9,172,800 ▲New Holding7,0001.3%NOTE 0.250 4/0FASTLY INC$8,853,1400.0%9,2491.2%NOTE 3/1FSLRFirst Solar$8,821,792$134,584 ▼-1.5%53,2911.2%EnergyAPPLIED OPTOELECTRONICS INC$8,399,700$933,300 ▲12.5%9,0001.2%NOTE 2.750 1/1WISDOMTREE INC$8,292,1100.0%7,3441.1%NOTE 3.250 6/1LIVE NATION ENTERTAINMENT IN$7,675,000$7,675,000 ▲New Holding5,0001.1%NOTE 3.125 1/1PENN ENTERTAINMENT INC$7,290,500$1,041,500 ▲16.7%7,0001.0%NOTE 2.750 5/1PEBBLEBROOK HOTEL TR$7,067,960$7,067,960 ▲New Holding7,4731.0%NOTE 1.75012/1CENTURY ALUM CO$6,885,6200.0%5,7500.9%NOTE 2.750 5/0MAGMAG Silver$6,801,113$6,801,113 ▲New Holding321,8700.9%Basic MaterialsSOLARIS ENERGY INFRAS INC$6,369,750$6,369,750 ▲New Holding4,7500.9%NOTE 4.750 5/0ON SEMICONDUCTOR CORP$5,934,0000.0%5,0000.8%NOTE 5/0BLACKLINE INC$5,769,6000.0%6,0000.8%NOTE 3/1SPRYARS Pharmaceuticals$5,533,849$3,144,996 ▼-36.2%317,1260.8%MedicalVTWOVanguard Russell 2000 ETF$5,451,250$5,451,250 ▲New Holding62,5000.8%ETFLYVLive Nation Entertainment$5,446,080$5,446,080 ▲New Holding36,0000.8%Consumer DiscretionaryMARA HOLDINGS INC$5,422,800$3,615,200 ▲200.0%6,0000.7%NOTE 1.00012/0ADVANCED ENERGY INDS$4,799,6000.0%4,0000.7%NOTE 2.500 9/1NET LEASE OFFICE PROPERTIES$4,713,240$156,240 ▲3.4%144,8000.6%COMPAR TECHNOLOGY CORP$4,601,600$1,150,400 ▼-20.0%4,0000.6%NOTE 1.50010/1HENNESSY CAP INVT CORP VII$4,599,605$6,065,175 ▼-56.9%452,7170.6%ORD SHS CL AHESHess$4,541,618$554,160 ▼-10.9%32,7820.6%EnergyGOPRO INC$4,535,5000.0%5,0000.6%NOTE 1.25011/1COHEN CIRCLE ACQUISITION COR$4,498,644$842,277 ▲23.0%410,0860.6%SHS CL ACOLOMBIER ACQUISITION CORP I$4,390,485$2,257,855 ▲105.9%283,9900.6%COM SHS CL AOMCOmnicom Group$4,323,594$1,661,814 ▲62.4%60,1000.6%Business ServicesVOOVanguard S&P 500 ETF$4,260,225$11,360,600 ▼-72.7%7,5000.6%ETFLITHIUM ARGENTINA AG$4,257,8900.0%5,0950.6%NOTE 1.750 1/1WILLOW LANE ACQUISITION CORP$4,218,985$46,229 ▲1.1%412,4130.6%ORD SHS CL ATALEN ENERGY CORP$4,099,857$9,917,292 ▼-70.8%14,1000.6%COMJNPRJuniper Networks$3,993,000$3,993,000 ▲New Holding100,0000.6%Computer and TechnologyGORES HLDGS X INC$3,990,592$3,990,592 ▲New Holding389,3260.6%SHS CL AUPWORK INC$3,776,8000.0%4,0000.5%NOTE 0.250 8/1PROS HOLDINGS INC$3,764,4000.0%4,0000.5%NOTE 2.250 9/1UBERUber Technologies$3,549,879$337,559 ▲10.5%38,0480.5%Computer and TechnologyRITHM ACQUISITION CORP$3,543,144$3,543,144 ▲New Holding347,7080.5%CL ATLTiShares 20+ Year Treasury Bond ETF$3,530,000$3,530,000 ▲New Holding40,0000.5%ETFHOWARD HUGHES HOLDINGS INC$3,510,000$3,510,000 ▲New Holding52,0000.5%COMJENA ACQUISITION CORP II$3,343,056$3,343,056 ▲New Holding325,2000.5%UNIT 99/99/9999NABORS ENERGY TRANSITION COR$3,330,0000.0%300,0000.5%CL AINVHInvitation Home$3,280,000$3,280,000 ▲New Holding100,0000.5%FinanceFCXFreeport-McMoRan$3,251,250$2,384,250 ▲275.0%75,0000.4%Basic MaterialsAACTAres Acquisition Corporation II$3,195,955$2,983,835 ▲1,406.7%282,0790.4%Financial ServicesIMOImperial Oil$3,179,200$3,179,200 ▲New Holding40,0000.4%EnergyBOLD EAGLE ACQUISITION CORP$3,178,430$281,025 ▼-8.1%303,5750.4%CL ABERTO ACQUISITION CORP$3,173,265$3,173,265 ▲New Holding304,5360.4%ORD SHSSRGSeritage Growth Properties$3,128,621$75,737 ▲2.5%1,015,7860.4%FinancePTONPeloton Interactive$3,107,274$1,824,700 ▲142.3%447,7340.4%Consumer DiscretionaryLUMENTUM HLDGS INC$3,102,6000.0%3,0000.4%NOTE 0.500 6/1CHURCHILL CAP CORP X$3,090,000$3,090,000 ▲New Holding300,0000.4%UNIT 05/14/2030TIXTTelus Digital$3,031,366$3,031,366 ▲New Holding835,0870.4%Computer and TechnologyFLRFluor$2,983,914$2,983,914 ▲New Holding58,2000.4%ConstructionCENTURION ACQUISITION CORP$2,975,466$2,975,466 ▲New Holding282,8390.4%SHS CL AMKS INC.$2,967,300$2,967,300 ▲New Holding3,0000.4%NOTE 1.250 6/0SUNRUN INC$2,859,600$2,859,600 ▲New Holding4,0000.4%NOTE 4.000 3/0SILVERBOX CORP IV$2,731,331$2,731,331 ▲New Holding249,2090.4%SHS CL AGUARDANT HEALTH INC$2,726,700$2,726,700 ▲New Holding3,0000.4%NOTE 11/1PROCAP ACQUISITION CORP$2,693,968$2,693,968 ▲New Holding251,3030.4%UNIT 05/16/2030GOOGAlphabet$2,660,850$13,659,030 ▼-83.7%15,0000.4%Computer and TechnologyCANTOR EQUITY PARTNERS I INC$2,592,962$1,709,090 ▼-39.7%217,8960.4%SHS CL AFYBRFrontier Communications Parent$2,587,0940.0%71,0740.4%Computer and TechnologyPERIMETER ACQUISITION CORP I$2,514,400$2,514,400 ▲New Holding247,2370.3%COM CL ABLUE ACQUISITION CORP.$2,508,996$2,508,996 ▲New Holding249,9000.3%UNIT 06/02/2030TITAN ACQUISITION CORP$2,465,824$2,465,824 ▲New Holding245,6000.3%CL AREPUBLIC DIGITAL ACQUISITION$2,449,267$2,449,267 ▲New Holding238,7200.3%USD CL A ORD SHSAPPLOVIN CORP$2,403,999$2,403,999 ▲New Holding6,8670.3%COM CL AGENIGenius Sports$2,395,786$2,395,786 ▲New Holding230,3640.3%Computer and TechnologyWEN ACQUISITION CORP$2,392,171$2,392,171 ▲New Holding226,3170.3%UNIT 05/16/2030DIGITAL ASSET ACQUISITION CO$2,378,446$2,378,446 ▲New Holding226,9510.3%SHS CL AAMZNAmazon.com$2,327,289$825,784 ▼-26.2%10,6080.3%Retail/WholesaleCANTOR EQUITY PARTNERS II IN$2,300,704$2,300,704 ▲New Holding208,5860.3%CL A ORD SHSINFLECTION PT ACQUISITION CO$2,267,367$2,267,367 ▲New Holding223,1660.3%CL A ORD SHSPDSPrecision Drilling$2,242,010$660,699 ▼-22.8%47,4600.3%EnergyGALAXY DIGITAL INC.$2,236,500$2,236,500 ▲New Holding75,0000.3%CL AHAYMAKER ACQUISITION CORP IV$2,217,780$2,217,780 ▲New Holding199,8000.3%CLASS AIJRiShares Core S&P Small-Cap ETF$2,185,800$1,092,900 ▼-33.3%20,0000.3%ETFCAL REDWOOD ACQUISITION CORP$2,143,859$2,143,859 ▲New Holding215,0310.3%COM CL ASIM ACQUISITION CORP. I$2,139,143$2,139,143 ▲New Holding205,2920.3%SHS CL ACOLUMBUS CIRCLE CAP CORP. I$2,124,000$2,124,000 ▲New Holding200,0000.3%SHS CL AShowing largest 100 holdings. View all holdings. More Institutional Buying and Selling Information SEC Filings and Trading Data SEC Filings 13F Filings Top 13F Buys Top 13F Sells Get 30 Days of MarketBeat All Access for Free Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools. Start Your 30-Day Trial MarketBeat All Access Features Best-in-Class Portfolio Monitoring Get personalized stock ideas. Compare portfolio to indices. Check stock news, ratings, SEC filings, and more. Stock Ideas and Recommendations See daily stock ideas from top analysts. Receive short-term trading ideas from MarketBeat. Identify trending stocks on social media. Advanced Stock Screeners and Research Tools Use our seven stock screeners to find suitable stocks. Stay informed with MarketBeat's real-time news. 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