K2 Principal Fund, L.P. Top Holdings and 13F Report (2026) About K2 Principal Fund, L.P.Investment ActivityK2 Principal Fund, L.P. has $1.43 billion in total holdings as of March 31, 2026.K2 Principal Fund, L.P. owns shares of 453 different stocks, but just 120 companies or ETFs make up 80% of its holdings.Approximately 48.10% of the portfolio was purchased this quarter.About 34.94% of the portfolio was sold this quarter.This quarter, K2 Principal Fund, L.P. has purchased 385 new stocks and bought additional shares in 71 stocks.K2 Principal Fund, L.P. sold shares of 80 stocks and completely divested from 121 stocks this quarter.Largest Holdings SPDR Gold Shares $124,010,872SPDR S&P 500 ETF Trust $84,349,101iShares Russell 2000 ETF $22,973,480VanEck Junior Gold Miners ETF $20,706,900iShares Silver Trust $19,379,016 Largest New Holdings this Quarter 464287655 - iShares Russell 2000 ETF $22,973,480 Holding698884AK9 - PAR TECHNOLOGY CORP $15,037,153 Holding922417AJ9 - VEECO INSTRS INC DEL $13,843,400 Holding18915MAE7 - CLOUDFLARE INC $13,625,100 Holding489399AN5 - KENNEDY-WILSON INC $12,268,716 Holding Largest Purchases this Quarter SPDR Gold Shares 181,003 shares (about $77.88M)SPDR S&P 500 ETF Trust 71,500 shares (about $46.50M)iShares Russell 2000 ETF 92,635 shares (about $22.97M)PAR TECHNOLOGY CORP 14,500 shares (about $15.04M)VEECO INSTRS INC DEL 9,960 shares (about $13.84M) Largest Sales this Quarter VanEck Gold Miners ETF 147,500 shares (about $13.54M)FIRST MAJESTIC SILVER 10,500 shares (about $13.47M)Freeport-McMoRan 179,800 shares (about $10.57M)PAR TECHNOLOGY CORP 10,000 shares (about $9.31M)British American Tobacco 156,109 shares (about $9.13M) 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$124,010,872$77,883,783 â–²168.8%288,2038.7%FinanceSPYSPDR S&P 500 ETF Trust$84,349,101$46,499,312 â–²122.9%129,7005.9%FinanceIWMiShares Russell 2000 ETF$22,973,480$22,973,480 â–²New Holding92,6351.6%FinanceGDXJVanEck Junior Gold Miners ETF$20,706,900$8,222,740 â–²65.9%172,5001.4%ETFSLViShares Silver Trust$19,379,016$626,888 â–²3.3%284,4001.4%ETFCOPXGlobal X Copper Miners ETF$15,575,400$11,757,900 â–²308.0%204,0001.1%ETFAST SPACEMOBILE INC$15,566,250$1,482,500 â–¼-8.7%10,5001.1%2.375 10/15/32 CVTPAR TECHNOLOGY CORP$15,037,153$15,037,153 â–²New Holding14,5001.0%4.000 03/15/31 CVTSOLARIS ENERGY INFRAS INC$15,003,6000.0%12,0001.0%NOTE 0.25010/0GAMESTOP CORP$14,399,560$2,057,080 â–²16.7%14,0001.0%04/01/30 CVT PUTGOLAR LNG LTD$14,270,640$7,135,320 â–²100.0%12,0001.0%2.750 12/15/30 CVTTRIPADVISOR INC$13,973,4700.0%14,0001.0%0.250 04/01/26 CVTVEECO INSTRS INC DEL$13,843,400$13,843,400 â–²New Holding9,9601.0%NOTE 2.875 6/0JETBLUE AIRWAYS CORP$13,795,5230.0%13,8241.0%0.500 04/01/26 CVTCLOUDFLARE INC$13,625,100$13,625,100 â–²New Holding12,0001.0%06/15/30 CVTRYAMRayonier Advanced Materials$12,900,978$372,218 â–¼-2.8%1,165,4000.9%Basic MaterialsSTRATEGY INC$12,567,0000.0%15,0000.9%NOTE 12/0KENNEDY-WILSON INC$12,268,716$12,268,716 â–²New Holding12,2010.9%4.750 02/01/30 '26QQQInvesco QQQ$12,120,780$577,180 â–²5.0%21,0000.8%FinanceFCXFreeport-McMoRan$12,108,680$10,568,644 â–¼-46.6%206,0000.8%Basic MaterialsWIX LTD$12,042,830$12,042,830 â–²New Holding14,5000.8%09/15/30 CVTCERENCE INC$11,980,370$2,613,899 â–¼-17.9%13,7500.8%NOTE 1.500 7/0HYGiShares iBoxx $ High Yield Corporate Bond ETF$11,934,000$11,934,000 â–²New Holding150,0000.8%ETFLUCID GROUP INC$11,774,2500.0%12,5000.8%1.250 12/15/26 CVTDROPBOX INC$11,400,000$4,750,000 â–²71.4%12,0000.8%NOTE 3/0I-80 GOLD CORP$11,204,400$11,204,400 â–²New Holding10,0000.8%3.750 04/15/31 CVTMARA HOLDINGS INC$11,053,7500.0%12,5000.8%NOTE 3/0GMEGameStop$10,499,328$4,511,232 â–¼-30.1%455,7000.7%Consumer DiscretionaryCOINBASE GLOBAL INC$10,243,200$1,862,400 â–²22.2%11,0000.7%NOTE 0.250 4/0XPLR INFRASTRUCTURE LP$9,934,1000.0%10,0000.7%2.500 06/15/26 CVTSNAP INC$9,860,0000.0%10,0000.7%NOTE 0.750 8/0UPSTART HLDGS INC$9,799,0000.0%10,0000.7%NOTE 0.250 8/1UBER TECHNOLOGIES INC$9,666,4000.0%8,0000.7%NOTE 0.87512/0ETSY INC$9,660,950$9,660,950 â–²New Holding10,0000.7%1.000 06/15/30 CVTADVANCED ENERGY INDS$9,604,8000.0%4,0000.7%NOTE 2.500 9/1DAUCH CORP$9,596,626$4,679,517 â–²95.2%1,618,3180.7%COMGOOGAlphabet$9,525,186$5,694,458 â–²148.7%33,2050.7%Computer and TechnologySUNRUN INC$9,472,000$4,736,000 â–²100.0%8,0000.7%NOTE 4.000 3/0RUBRIK INC$9,470,615$9,470,615 â–²New Holding11,0000.7%06/15/30 CVTWISDOMTREE INC$9,361,800$1,337,400 â–²16.7%7,0000.7%NOTE 3.250 8/1DENISON MINES CORP$9,328,290$4,664,145 â–²100.0%6,0000.7%4.250 09/15/31 CVTARK ETF TR$9,327,420$9,327,420 â–²New Holding138,0000.7%INNOVATION ETFBOX INC$9,212,000$4,606,000 â–²100.0%10,0000.6%NOTE 1.500 9/1BLACKSKY TECHNOLOGY INC$9,196,863$3,071,338 â–²50.1%7,5070.6%8.250 08/01/33 CVT PUTAKAMAI TECHNOLOGIES INC$9,142,400$9,142,400 â–²New Holding8,0000.6%NOTE 1.125 2/1MARRIOTT VACATIONS WORLDWIDE$8,665,200$5,776,800 â–²200.0%9,0000.6%NOTE 3.25012/1UBERUber Technologies$8,451,775$8,451,775 â–²New Holding117,5000.6%Computer and TechnologyMARA HOLDINGS INC$8,243,1000.0%9,0000.6%NOTE 6/0XLPConsumer Staples Select Sector SPDR Fund$8,198,000$8,198,000 â–²New Holding100,0000.6%ETFSTRATEGY INC$8,099,700$3,471,300 â–²75.0%7,0000.6%NOTE 0.625 3/1BLACKBERRY LTD$8,079,4000.0%7,0000.6%NOTE 3.000 2/1COREWEAVE INC$8,045,880$8,045,880 â–²New Holding8,0000.6%1.750 12/01/31 CVTGDXVanEck Gold Miners ETF$8,029,875$13,536,075 â–¼-62.8%87,5000.6%ETFLIVE NATION ENTERTAINMENT IN$7,624,5000.0%5,0000.5%NOTE 3.125 1/1THE REALREAL INC$7,561,6000.0%8,5000.5%NOTE 1.000 3/0IIP OPERATING PARTNER$7,550,952$2,489,763 â–²49.2%7,5820.5%5.500 05/25/26 '26OPENDOOR TECHNOLOGIES IN$7,394,2060.0%7,5500.5%0.250 08/15/26 CVTMUVICO LLC$7,356,1310.0%11,9090.5%8.000 04/30/30 CVTFLUOR CORP$7,342,2000.0%6,0000.5%NOTE 1.125 8/1PEBBLEBROOK HOTEL TR$7,312,3300.0%7,4730.5%NOTE 1.75012/1CLEAR CHANNEL OUTDOOR HO$7,309,556$7,309,556 â–²New Holding7,2750.5%7.500 06/01/29 '26VIZSLA SILVER CORP$7,259,8930.0%7,2100.5%5.000 01/15/31 CVTFRESHPET INC$7,125,470$1,322,970 â–²22.8%6,1400.5%NOTE 3.000 4/0ABIVAX SA$7,097,560$3,478,685 â–²96.1%63,7410.5%SPONSORED ADSPFSIPennyMac Financial Services$7,079,575$6,817,200 â–²2,598.3%81,0020.5%FinanceBITDEER TECHNOLOGIES GRP$7,063,875$3,027,375 â–²75.0%7,0000.5%5.250 12/01/29 CVT PUTSTRATEGY INC$6,944,000$6,944,000 â–²New Holding8,0000.5%NOTE 3/0SHOPIFY INC$6,879,960$6,879,960 â–²New Holding58,0000.5%CL A SUB VTG SHSEEMiShares MSCI Emerging Markets ETF$6,814,800$6,814,800 â–²New Holding120,0000.5%FinanceSUNOCOCORP LLC$6,478,7990.0%105,0900.5%COM SHS LLCON SEMICONDUCTOR CORP$6,452,5000.0%5,0000.5%NOTE 5/0SOLSTICE ADVANCED MATLS INC$6,446,944$6,485,786 â–¼-50.2%84,6500.5%COM SHSFSLRFirst Solar$6,410,950$2,712,325 â–²73.3%32,5000.4%EnergyBTIBritish American Tobacco$6,409,832$9,127,693 â–¼-58.7%109,6260.4%Consumer StaplesGALAXY DIGITAL HOLDIN LP$6,262,2450.0%5,5000.4%2.500 12/01/29 CVTPEBBLEBROOK HOTEL TRUST$6,150,420$6,150,420 â–²New Holding6,0000.4%1.625 01/15/30 CVTPARPAR Technology$5,998,500$2,047,221 â–¼-25.4%450,0000.4%Business ServicesGUIDEWIRE SOFTWARE INC$5,991,600$5,991,600 â–²New Holding6,0000.4%NOTE 1.25011/0SUNSunoco$5,847,3000.0%90,0000.4%EnergyNABORS INDS INC$5,833,170$2,771,102 â–²90.5%6,3150.4%NOTE 1.750 6/1MARA HOLDINGS INC$5,773,2000.0%6,0000.4%NOTE 1.00012/0PELOTON INTERACTIVE INC$5,365,600$5,365,600 â–²New Holding4,0000.4%NOTE 5.50012/0ISHARES BITCOIN TRUST ETF$5,141,441$710,770 â–¼-12.1%133,8220.4%SHS BEN INTFIRST MAJESTIC SILVER$5,129,760$13,465,620 â–¼-72.4%4,0000.4%0.125 01/15/31 CVTSOLARIS ENERGY INFRAS INC$5,085,900$5,085,900 â–²New Holding90,0000.4%COM CL ALITHIUM ARGENTINA AG$4,920,2400.0%5,0950.3%NOTE 1.750 1/1SPRYARS Pharmaceuticals$4,598,757$3,062,618 â–²199.4%572,6970.3%MedicalWILLOW LANE ACQUISITION CRP$4,545,000$4,545,000 â–²New Holding450,0000.3%UNIT 01/27/2031GENIGenius Sports$4,524,585$3,622,043 â–²401.3%1,021,3510.3%Computer and TechnologyLIONSGATE STUDIOS CORP$4,503,512$1,184,710 â–²35.7%469,6050.3%COMPLUG POWER INC$4,311,887$4,311,887 â–²New Holding3,8750.3%6.750 12/01/33 CVT PUTQUREuniQure$4,309,860$4,309,860 â–²New Holding263,6000.3%MedicalBLOOM ENERGY CORP$4,259,720$4,259,720 â–²New Holding4,0000.3%11/15/30 CVTEXACT SCIENCES CORP$4,256,2950.0%3,0000.3%2.000 03/01/30 CVTWILLOW LANE ACQUISITION CORP$4,237,603$4,237,603 â–²New Holding397,8970.3%ORD SHS CL AGREENFIRE RES LTD NEW$4,148,701$1,193,500 â–¼-22.3%656,4400.3%COM SHSBEPBrookfield Renewable Partners$4,106,112$133,824 â–¼-3.2%125,8000.3%UtilitiesCOHEN CIRCLE ACQUISIT CORP I$4,079,8240.0%399,2000.3%SHS CL ANSCNorfolk Southern$4,044,117$944,517 â–²30.5%14,0910.3%TransportationAPPLOVIN CORP$4,007,064$2,322,728 â–²137.9%10,0680.3%COM 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. 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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