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K2 PRINCIPAL FUND, L.P. — 13F Holdings & Portfolio

CIK 1461790 · latest 13F-HR filed 2026-08-07

Backtest portfolio

K2 PRINCIPAL FUND, L.P. manages $1.36B in 13F-reported U.S. long-equity assets across 490 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are GLD (4.01%), AAUCF (1.92%), GLD (1.67%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 142 new positions and exited 122; 145 existing positions rose in reported value and 67 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

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AUM
$1.36B

Long-equity book

Holdings
490

Distinct positions

Period
2026-06-30

Filed 2026-08-07

Q/Q Activity
+142 / −122 / ↑145 / ↓67

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26
MHIFF2.7% · 0%PSAPF2.5% · +250%MARA2.5% · 0%AAUCF2.4% · newPAR2.0% · -3%TE1.7% · +330%AVT1.5% · newASTS1.5% · 0%ON1.3% · +140%W1.3% · newGME1.3% · 0%PFSI1.3% · +97%GLNG1.3% · 0%ARRY1.2% · +100%SEI1.2% · -33%IAUX1.1% · +10%RBRK1.1% · +9%DBX1.1% · 0%VGNAF1.1% · newLCID1.1% · 0%CRWV1.1% · +25%RUN1.1% · +25%GLD1.1% · +120%FRPT1.1% · +63%ETSY1.1% · 0%CRNC1.0% · -13%AKAM1.0% · +12%AMC1.0% · newDIG1.0% · 0%SO0.9% · newSNAP0.9% · 0%WIX0.9% · -10%LYV0.9% · +80%UPST0.9% · 0%COIN0.9% · 0%BOX0.9% · 0%BKSY0.9% · 0%UBER0.9% · 0%BITDEER TECHNOLOGIES0.9% · 0%GOOG0.9% · -19%CCO0.9% · 0%SPCE0.8% · newVAC0.8% · 0%DNN0.8% · 0%DDOG0.8% · +100%SUNC0.8% · +17%OPEN0.7% · +8%FLR0.7% · 0%REAL0.7% · 0%CODIPA0.7% · newPEB0.7% · 0%VZLA0.7% · 0%DCH0.6% · +10%BWA0.6% · newCIGI0.6% · newPTON0.6% · 0%RIOT0.6% · 0%GWRE0.5% · 0%APP0.5% · +10%ATII0.5% · +499%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

4 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 19.5%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

Name Title / Status Ownership Type

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Top Adds (vs prior quarter)

Show all 145 →

Top Trims

Show all 67 →

New Positions

Show all 142 →

Exited Positions

Show all 122 →

K2 PRINCIPAL FUND, L.P. Holdings (2026-06-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 SPDR GOLD TR Call GLD 78463V107 $54.7M 4.01% 148,600 SH
2 ALLIED GOLD AAUCF 01921DAA3 $26.2M 1.92% 15,973 PRN
3 SPDR GOLD TR Put GLD 78463V107 $22.8M 1.67% 62,000 SH
4 VANECK ETF TRUST Put GDXJ 92189F791 $19.2M 1.40% 195,000 SH
5 PAR TECHNOLOGY CORP PAR 698884AK9 $17.1M 1.25% 13,900 PRN
6 AVNET AVT 053807AY9 $16.8M 1.23% 12,000 PRN
7 AST SPACEMOBILE INC ASTS 00217DAC4 $16.7M 1.23% 10,500 PRN
8 CLOUDFLARE INC NET 18915MAF4 $16.5M 1.21% 13,000 PRN
9 STRATEGY INC MHIFF 594972AQ4 $15.4M 1.13% 15,000 PRN
10 ON SEMICONDUCTOR CORP ON 682189AU9 $14.5M 1.06% 12,000 PRN
11 WAYFAIR INC W 94419LAP6 $14.3M 1.05% 9,349 PRN
12 GAMESTOP CORP GME 36467WAE9 $14.3M 1.04% 14,000 PRN
13 PENNYMAC FINL SVCS INC NEW PFSI 70932M107 $13.9M 1.02% 159,766 SH
14 GLOBAL X FDS Put COPX 37954Y830 $13.9M 1.02% 180,000 SH
15 GOLAR LNG LTD GLNG 38046YAC5 $13.7M 1.01% 12,000 PRN
16 SOLARIS ENERGY INFRAS INC SEI 83419XAB4 $13.0M 0.95% 8,000 PRN
17 MARA HOLDINGS INC MARA 565788AF3 $12.6M 0.92% 12,500 PRN
18 I-80 GOLD CORP IAUX 44955LAC0 $12.2M 0.90% 11,000 PRN
19 RUBRIK INC. RBRK 781154AD1 $12.2M 0.90% 12,000 PRN
20 DROPBOX INC DBX 26210CAD6 $12.1M 0.89% 12,000 PRN
21 VIRGIN GALATIC HOLDINGS — 92766KAA4 $12.0M 0.88% 12,500 PRN
22 LUCID GROUP INC LCID 549498AA1 $12.0M 0.88% 12,500 PRN
23 COREWEAVE INC CRWV 21873SAD0 $11.9M 0.88% 10,000 PRN
24 SUNRUN INC RUN 86771WAD7 $11.9M 0.87% 10,000 PRN
25 STATE STR SPDR SP 500 ETF T Put SPY 78462F103 $11.9M 0.87% 15,900 SH
26 SPDR GOLD TR GLD 78463V107 $11.9M 0.87% 32,180 SH
27 FRESHPET INC FRPT 358039AB1 $11.7M 0.85% 10,000 PRN
28 ETSY INC ETSY 29786AAQ9 $11.6M 0.85% 10,000 PRN
29 ISHARES SILVER TR Call SLV 46428Q109 $11.6M 0.85% 217,500 SH
30 ABIVAX SA Call ABVX 00370M103 $11.3M 0.83% 85,100 SH
31 FREEPORT MCMORAN INC Put FCX 35671D857 $11.1M 0.81% 176,400 SH
32 CERENCE INC CRNC 156727AD1 $11.1M 0.81% 12,000 PRN
33 PEBBLEBROOK HOTEL TRUST — 70509VAB6 $10.8M 0.79% 8,000 PRN
34 AKAMAI TECHNOLOGIES INC AKAM 00971TAN1 $10.7M 0.79% 9,000 PRN
35 ELECTRONIC ARTS INC Put EA 285512109 $10.4M 0.76% 50,500 SH
36 SOUTHERN CO SO 842587ED5 $10.1M 0.74% 10,000 PRN
37 SNAP INC SNAP 83304AAB2 $10.0M 0.73% 10,000 PRN
38 WIX LTD WIX 92940WAE9 $9.9M 0.73% 13,000 PRN
39 LIVE NATION ENTERTAINMENT LYV 538034BD0 $9.9M 0.73% 9,000 PRN
40 UPSTART HLDGS INC UPST 91680MAB3 $9.9M 0.73% 10,000 PRN
41 COINBASE GLOBAL INC COIN 19260QAF4 $9.9M 0.72% 11,000 PRN
42 ISHARES TR Call IJR 464287804 $9.8M 0.72% 66,000 SH
43 BOX INC BOX 10316TAD6 $9.8M 0.72% 10,000 PRN
44 BLACKSKY TECHNOLOGY INC BKSY 09263BAA6 $9.7M 0.71% 7,507 PRN
45 UBER TECHNOLOGIES INC UBER 90353TAM2 $9.6M 0.70% 8,000 PRN
46 BITDEER TECHNOLOGIES GRP — 09175RAB6 $9.6M 0.70% 7,000 PRN
47 ALPHABET INC GOOG 02079K107 $9.5M 0.69% 26,773 SH
48 T1 ENERGY INC TE 35834FAC8 $9.4M 0.69% 5,500 PRN
49 MUVICO LLC — 62844JAA6 $9.2M 0.67% 11,345 PRN
50 VIRGIN GALATIC HOLDINGS SPCE 92766KAC0 $9.1M 0.66% 10,184 PRN
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-07 $1.36B 490 0001461790-26-000032
2026-03-31 2026-05-14 $1.43B 487 0001461790-26-000030
2025-12-31 2026-02-13 $1.24B 410 0001461790-26-000016
2025-09-30 2025-11-13 $1.23B 338 0001461790-25-000054
Filer Information
Address
2 BLOOR STREET WEST
SUITE 801
TORONTO, A6 M4W 3E2
Phone
(416) 365-2155
Filing Manager
K2 PRINCIPAL FUND, L.P.
TORONTO, A6
Signatory
Todd Sikorski
President