K2 Principal Fund, L.P. Top Holdings and 13F Report (2025) About K2 Principal Fund, L.P.Investment ActivityK2 Principal Fund, L.P. has $788.19 million in total holdings as of March 31, 2025.K2 Principal Fund, L.P. owns shares of 297 different stocks, but just 82 companies or ETFs make up 80% of its holdings.Approximately 35.11% of the portfolio was purchased this quarter.About 45.73% of the portfolio was sold this quarter.This quarter, K2 Principal Fund, L.P. has purchased 287 new stocks and bought additional shares in 50 stocks.K2 Principal Fund, L.P. sold shares of 60 stocks and completely divested from 99 stocks this quarter.Largest Holdings SPDR Gold Shares $48,334,334PELOTON INTERACTIVE INC $14,860,560NUTANIX INC $14,691,600Alphabet $14,373,160ISHARES BITCOIN TRUST ETF $14,277,050 Largest New Holdings this Quarter G4405D107 - HENNESSY CAP INVT CORP VII $10,370,868 Holding65341BAG1 - NEXTERA ENGY PTR $9,560,200 Holding09228FAM5 - BLACKBERRY LTD $8,824,200 Holding00437EAB8 - ACCOLADE INC $7,896,000 Holding125137AC3 - CEC ENTERTAIN $7,860,771 Holding Largest Purchases this Quarter HENNESSY CAP INVT CORP VII 1,049,683 shares (about $10.37M)NEXTERA ENGY PTR 10,000 shares (about $9.56M)BLACKBERRY LTD 7,000 shares (about $8.82M)ACCOLADE INC 8,000 shares (about $7.90M)CEC ENTERTAIN 7,961 shares (about $7.86M) Largest Sales this Quarter Vanguard S&P 500 ETF 36,500 shares (about $18.76M)Amazon.com 68,949 shares (about $13.12M)DYNAMIX CORP 828,920 shares (about $8.25M)PAR Technology 93,793 shares (about $5.75M)WILLOW LANE ACQUISITION CORP 525,994 shares (about $5.27M) 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$48,334,334$4,437,068 ▼-8.4%167,7466.1%FinancePELOTON INTERACTIVE INC$14,860,5600.0%15,6791.9%NOTE 2/1NUTANIX INC$14,691,600$1,335,600 ▼-8.3%11,0001.9%NOTE 0.25010/0GOOGAlphabet$14,373,160$6,240,920 ▲76.7%92,0001.8%Computer and TechnologyISHARES BITCOIN TRUST ETF$14,277,050$1,638,350 ▲13.0%305,0001.8%SHS BEN INTVOOVanguard S&P 500 ETF$14,132,525$18,757,715 ▼-57.0%27,5001.8%ETFOPENDOOR TECHNOL$13,732,273$1,780,060 ▼-11.5%15,4291.7%0.25 8/15/2026DROPBOX INC$13,682,990$1,974,600 ▼-12.6%13,8591.7%NOTE 3/0VIRGIN GALACTIC$13,545,510$1,847,115 ▲15.8%33,0001.7%2.50 01/02/2027TRIPADVISOR INC$13,330,800$2,380,500 ▲21.7%14,0001.7%NOTE 0.250 4/0AIR CANADA$12,674,605$143,703 ▲1.1%13,2301.6%4.00 7/1/2025KAR AUCTION$12,471,8910.0%12,4871.6%5.125 6/1/2025HENNESSY CAP INVT CORP VII$10,370,868$10,370,868 ▲New Holding1,049,6831.3%ORD SHS CL ASPHERE ENTERTAINMENT CO$10,273,9500.0%8,5001.3%NOTE 3.50012/0STRATHCONA RESOU$9,987,600$1,997,520 ▲25.0%10,0001.3%6.875 01/08/2026MICROSTRATEGY$9,720,0000.0%12,0001.2%0 01/12/2029TALEN ENERGY CORP$9,625,492$2,639,238 ▲37.8%48,2071.2%COMNEXTERA ENGY PTR$9,560,200$9,560,200 ▲New Holding10,0001.2%2.50 15/06/2026JETBLUE AIRWAYS CORP$9,440,0000.0%10,0001.2%NOTE 0.500 4/0UPSTART HLDGS INC$9,338,0000.0%10,0001.2%NOTE 0.250 8/1RAPID7 INC$9,165,0000.0%10,0001.2%NOTE 0.250 3/1NICE LTD$9,095,4300.0%9,3211.2%NOTE 9/1MARA HOLDINGS$9,018,7500.0%12,5001.1%0 01/03/2030FIRST MAJESTIC SILVER CORP$8,904,3500.0%9,5001.1%NOTE 0.375 1/1IIP OP PRTNRSHP$8,888,2810.0%9,0821.1%5.50 25/05/2026BLACKBERRY LTD$8,824,200$8,824,200 ▲New Holding7,0001.1%NOTE 3.000 2/1FASTLY INC$8,777,3000.0%9,2491.1%NOTE 3/1LUCID GROUP$7,950,000$795,000 ▲11.1%10,0001.0%1.25 12/15/2026ACCOLADE INC$7,896,000$7,896,000 ▲New Holding8,0001.0%NOTE 0.500 4/0CEC ENTERTAIN$7,860,771$7,860,771 ▲New Holding7,9611.0%6.75 01/05/2026WISDOMTREE INC$7,606,1800.0%7,3441.0%NOTE 3.250 6/1GREENFIRE RESOUR$7,425,460$7,425,460 ▲New Holding7,0000.9%12.00 01/10/2028HE EQUIPMENT$7,216,263$7,216,263 ▲New Holding7,2300.9%3.875 15/12/2028SOISolaris Oilfield Infrastructure$7,203,409$4,634,793 ▼-39.2%331,0390.9%EnergySNAP INC$7,068,0500.0%7,1000.9%NOTE 0.250 5/0AST SPACEMOBILE$7,054,560$7,054,560 ▲New Holding6,0000.9%4.25 01/03/2032LUMENTUM HLDGS INC$7,032,0000.0%6,0000.9%NOTE 1.50012/1GETTY IMAGES INC$7,004,060$7,004,060 ▲New Holding7,0000.9%9.75 01/03/2027CENTURY ALUM CO$6,912,6500.0%5,7500.9%NOTE 2.750 5/0FSLRFirst Solar$6,840,369$5,576,069 ▲441.0%54,1040.9%EnergyMUVICO LLC$6,817,481$1,904,856 ▲38.8%7,1580.9%6.00 30/04/2030COINBASE GLOBAL$6,510,000$2,790,000 ▲75.0%7,0000.8%0.25 01/04/2030APPLIED OPTOELECTRONICS INC$6,348,800$6,348,800 ▲New Holding8,0000.8%NOTE 2.750 1/1SABRE GLBL INC$6,298,2700.0%6,3090.8%NOTE 4.000 4/1SPRYARS Pharmaceuticals$6,256,726$5,917,066 ▲1,742.1%497,3550.8%MedicalCORE SCIENTIFIC$6,247,500$6,247,500 ▲New Holding7,5000.8%0 15/06/2031PENN ENTERTAINMENT INC$6,192,000$6,192,000 ▲New Holding6,0000.8%NOTE 2.750 5/1WISDOMTREE INC$6,036,1800.0%6,0000.8%3.25 15/08/2029HESHess$5,875,189$415,298 ▼-6.6%36,7820.7%EnergyBLACKLINE INC$5,728,2000.0%6,0000.7%NOTE 3/1PAR TECHNOLOGY CORP$5,370,000$5,370,000 ▲New Holding5,0000.7%NOTE 1.50010/1SLViShares Silver Trust$5,351,973$5,351,973 ▲New Holding172,7000.7%ETFARKKARK Innovation ETF$5,233,800$5,233,800 ▲New Holding110,0000.7%ETFON SEMICONDUCTOR CORP$5,221,500$5,221,500 ▲New Holding5,0000.7%NOTE 5/0IRIS ENERGY LTD$5,107,130$2,918,360 ▲133.3%7,0000.6%3.25 15/06/2030AMERICAN AIRLINES GROUP INC$5,010,0000.0%5,0000.6%NOTE 6.500 7/0FNVFranco-Nevada$4,648,020$1,811,940 ▲63.9%29,5000.6%Basic MaterialsTERAWULF INC$4,547,9850.0%6,5000.6%2.75 01/02/2030GALAXY DIG HO LP$4,499,165$3,681,135 ▲450.0%5,5000.6%2.50 01/12/2029INFINERA CORP$4,469,5000.0%3,5000.6%NOTE 3.750 8/0IONQIonQ$4,414,000$3,972,600 ▲900.0%200,0000.6%Computer and TechnologyGOPRO INC$4,413,0000.0%5,0000.6%NOTE 1.25011/1NET LEASE OFFICE PROPERTIES$4,393,200$179,651 ▲4.3%140,0000.6%COMLITHIUM ARGENTINA AG$4,190,6400.0%5,0950.5%NOTE 1.750 1/1ADVANCED ENERGY INDS$4,100,0000.0%4,0000.5%NOTE 2.500 9/1WILLOW LANE ACQUISITION CORP$4,087,098$5,270,460 ▼-56.3%407,8940.5%ORD SHS CL AMARATHON DIGITAL$4,080,2000.0%5,0000.5%2.125 01/09/2031LIB TRIP ADV HOL$3,991,7600.0%4,0000.5%0.50 30/06/2051SPIRIT LOYALTY$3,892,908$3,892,908 ▲New Holding4,1970.5%11.00 06/03/2030MICROSTRATEGY$3,825,440$3,825,440 ▲New Holding4,0000.5%0 01/03/2030COHEN CIRCLE ACQUISITION COR$3,736,360$2,567,953 ▼-40.7%333,3060.5%SHS CL AUPWORK INC$3,716,4000.0%4,0000.5%NOTE 0.250 8/1PROS HOLDINGS INC$3,715,200$3,715,200 ▲New Holding4,0000.5%NOTE 2.250 9/1CANTOR EQUITY PARTNERS I INC$3,701,934$3,701,934 ▲New Holding361,5170.5%SHS CL ARITHM ACQUISITION CORP$3,535,000$3,535,000 ▲New Holding350,0000.4%UNIT 99/99/9999I-80 GOLD CORP$3,400,0000.0%4,0000.4%8.00 22-FEB-27 PIKSTELLAR V CAP CORP$3,395,801$3,395,801 ▲New Holding339,9200.4%SHS CL ADOOOBRP$3,381,000$3,042,900 ▲900.0%100,0000.4%Auto/Tires/TrucksBOLD EAGLE ACQUISITION CORP$3,353,722$1,939,746 ▼-36.6%330,4160.4%CL ANABORS ENERGY TRANSITION COR$3,285,000$3,285,000 ▲New Holding300,0000.4%CL AARCHIMEDES TECH SPAC PARTNER$3,223,483$3,223,483 ▲New Holding319,7900.4%UNIT 10/15/2029CIENCiena$3,203,576$1,704,670 ▼-34.7%53,0130.4%Computer and TechnologySRGSeritage Growth Properties$3,201,563$1,080,125 ▼-25.2%991,1960.4%FinanceCORE SCIENTIFIC$3,183,840$3,183,840 ▲New Holding3,0000.4%3.00 01/09/2029IJRiShares Core S&P Small-Cap ETF$3,137,100$3,137,100 ▲New Holding30,0000.4%ETFNEWHOLD INVT CORP III$3,128,917$3,128,917 ▲New Holding311,3350.4%UNIT 99/99/9999OMCOmnicom Group$3,067,670$3,067,670 ▲New Holding37,0000.4%Business ServicesB2GOLD CORP$2,907,150$2,907,150 ▲New Holding2,5000.4%2.75 01/02/2030SSR MINING IN$2,904,1700.0%2,8880.4%NOTE 2.500 4/0PDSPrecision Drilling$2,864,612$606,060 ▲26.8%61,4460.4%EnergyLUMENTUM HLDGS INC$2,761,2000.0%3,0000.4%NOTE 0.500 6/1BITDEER TECHNO$2,757,9300.0%3,0000.3%5.25 01/12/2029AMZNAmazon.com$2,734,417$13,118,238 ▼-82.8%14,3720.3%Retail/WholesaleHLTHilton Worldwide$2,730,600$2,730,600 ▲New Holding12,0000.3%Consumer DiscretionaryFYBRFrontier Communications Parent$2,548,7140.0%71,0740.3%Computer and TechnologyLIVE OAK ACQUISITION CORP V$2,520,000$2,520,000 ▲New Holding250,0000.3%UNIT 02/20/2030UBERUber Technologies$2,508,570$249,910 ▲11.1%34,4300.3%Computer and TechnologyNEXTERA ENGY PTR$2,420,350$2,420,350 ▲New Holding2,5000.3%0 15/11/2025WDCWestern Digital$2,396,650$2,396,650 ▲New Holding59,2790.3%Computer and TechnologyABNBAirbnb$2,389,200$2,389,200 ▲New Holding20,0000.3%Consumer DiscretionaryShowing 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. Export data to Excel for personal analysis. Sign in to your free account to enjoy these benefits In-depth profiles and analysis for 20,000 public companies. 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