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Portfolio (Quarterly) Guide ↗

K2 PRINCIPAL FUND, L.P.

· CIK 0001461790
13F Portfolio $1.4B AUM 487 positions Filed May 14, 2026 EDGAR ↗ ← All Funds
Q1 2026 Q4 2025 · All 212 New 74 Added 83 Reduced 135 Exited
Page 1 of 25  ·  487 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
1 GLD CALL SPDR GOLD TR Financial Services 200,600.0 $86.3M 6.03% +93K +87.1% $430.29 -0.7%
2 SPY PUT STATE STR SPDR SP 500 ETF T Financial Services 75,000.0 $48.8M 3.41% NEW $650.34 +13.7%
3 SPY CALL STATE STR SPDR SP 500 ETF T Financial Services 54,700.0 $35.6M 2.48% -4K -6.0% $650.34 +13.7%
4 GLD PUT SPDR GOLD TR Financial Services 73,000.0 $31.4M 2.19% NEW $430.29 -0.7%
5 IWM PUT ISHARES TR 85,000.0 $21.1M 1.47% NEW $248.00 +11.9%
6 AST SPACEMOBILE INC 10,500.0 $15.6M 1.09% -1K -8.7% $1482.50
7 SLV CALL ISHARES SILVER TR Financial Services 224,400.0 $15.3M 1.07% -36K -13.7% $68.14 +1.3%
8 PAR TECHNOLOGY CORP 14,500.0 $15.0M 1.05% NEW $1037.05
9 SOLARIS ENERGY INFRAS INC 12,000.0 $15.0M 1.05% $1250.30
10 COPX PUT GLOBAL X FDS 194,000.0 $14.8M 1.03% +144K +288.0% $76.35 +8.8%
11 GAMESTOP CORP 14,000.0 $14.4M 1.00% +2K +16.7% $1028.54
12 GOLAR LNG LTD 12,000.0 $14.3M 1.00% +6K +100.0% $1189.22
13 TRIPADVISOR INC 14,000.0 $14.0M 0.98% $998.11
14 VEECO INSTRS INC DEL 9,960.0 $13.8M 0.97% NEW $1389.90
15 JETBLUE AIRWAYS CORP 13,824.0 $13.8M 0.96% $997.94
16 CLOUDFLARE INC 12,000.0 $13.6M 0.95% NEW $1135.42
17 GDXJ PUT VANECK ETF TRUST 107,500.0 $12.9M 0.90% +26K +31.1% $120.04 -3.1%
18 STRATEGY INC 15,000.0 $12.6M 0.88% $837.80
19 KENNEDY-WILSON INC 12,201.0 $12.3M 0.86% NEW $1005.55
20 FCX PUT FREEPORT MCMORAN INC Basic Materials 206,000.0 $12.1M 0.84% -144K -41.1% $58.78 +12.5%
Page 1 of 25  ·  487 positions

Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation
Financial Services 32.5%
Technology 10.0%
Consumer Cyclical 8.5%
Energy 8.3%
Industrials 8.2%
Communication Services 7.9%
Basic Materials 7.8%
Healthcare 6.1%
Utilities 6.1%
Real Estate 2.3%