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Portfolio (Quarterly) Guide ↗

K2 PRINCIPAL FUND, L.P.

· CIK 0001461790
13F Portfolio $1.2B AUM Filed Feb 13, 2026 EDGAR ↗ ← All Funds
Q1 2026 Q4 2025 · All 410 New
Page 3 of 21  ·  410 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
41 THE REALREAL INC 8,500.0 $8.0M 0.65% NEW $946.80
42 SOLAREDGE TECHNOLOGIES INC 6,750.0 $7.9M 0.63% NEW $1164.10
43 DROPBOX INC 7,859.0 $7.8M 0.63% NEW $992.90
44 CALL GAMESTOP CORP NEW 376,500.0 $7.6M 0.61% NEW $20.08
45 MARA HOLDINGS INC 9,000.0 $7.5M 0.61% NEW $836.60
46 OPENDOOR TECHNOL 7,550.0 $7.4M 0.59% NEW $976.84
47 LIVE NATION ENTERTAINMENT IN 5,000.0 $7.3M 0.59% NEW $1454.40
48 PEBBLEBROOK HOTEL TR 7,473.0 $7.2M 0.58% NEW $969.90
49 WISDOMTREE INC 6,000.0 $7.2M 0.58% NEW $1205.80
50 DROPBOX INC 7,000.0 $7.1M 0.57% NEW $1011.50
51 GALAXY DIG HO LP 5,500.0 $7.0M 0.56% NEW $1264.12
52 MICROSTRATEGY 8,000.0 $6.9M 0.56% NEW $864.57
53 FLUOR CORP 6,000.0 $6.8M 0.55% NEW $1140.90
54 CORE SCIENTIFIC INC NEW 6,400.0 $6.7M 0.54% NEW $1053.05
55 META PUT META PLATFORMS INC Communication Services 10,000.0 $6.6M 0.53% NEW $660.09 -6.3%
56 ADVANCED ENERGY INDS 4,000.0 $6.6M 0.53% NEW $1641.90
57 T1 ENERGY INC 5,000.0 $6.4M 0.52% NEW $1277.30
58 BTI CALL BRITISH AMERN TOB PLC Consumer Defensive 110,000.0 $6.2M 0.50% NEW $56.62 +15.0%
59 ON SEMICONDUCTOR CORP 5,000.0 $6.0M 0.48% NEW $1195.60
60 BLACKLINE INC 6,000.0 $5.9M 0.48% NEW $990.10
Page 3 of 21  ·  410 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 29.3%
Basic Materials 11.6%
Technology 9.7%
Real Estate 9.2%
Consumer Cyclical 7.2%
Industrials 7.1%
Utilities 6.5%
Energy 6.5%
Consumer Defensive 5.9%
Communication Services 4.8%