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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 3 of 25  ·  487 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
41 QQQ PUT INVESCO QQQ TR Financial Services 16,000.0 $9.2M 0.65% -4K -20.0% $577.18 +22.8%
42 BOX INC 10,000.0 $9.2M 0.64% +5K +100.0% $921.20
43 BLACKSKY TECHNOLOGY INC 7,507.0 $9.2M 0.64% +3K +50.1% $1225.10
44 AKAMAI TECHNOLOGIES INC 8,000.0 $9.1M 0.64% NEW $1142.80
45 MARRIOTT VACATIONS WORLDWIDE 9,000.0 $8.7M 0.60% +6K +200.0% $962.80
46 MARA HOLDINGS INC 9,000.0 $8.2M 0.58% $915.90
47 XLP PUT SELECT SECTOR SPDR TR 100,000.0 $8.2M 0.57% NEW $81.98 +3.2%
48 STRATEGY INC 7,000.0 $8.1M 0.57% +3K +75.0% $1157.10
49 BLACKBERRY LTD 7,000.0 $8.1M 0.56% $1154.20
50 COREWEAVE INC 8,000.0 $8.0M 0.56% NEW $1005.74
51 GDXJ CALL VANECK ETF TRUST 65,000.0 $7.8M 0.55% +43K +195.4% $120.04 -3.1%
52 LIVE NATION ENTERTAINMENT IN 5,000.0 $7.6M 0.53% $1524.90
53 THE REALREAL INC 8,500.0 $7.6M 0.53% $889.60
54 IIP OPERATING PARTNER 7,582.0 $7.6M 0.53% +2K +49.2% $995.91
55 OPENDOOR TECHNOLOGIES IN 7,550.0 $7.4M 0.52% $979.37
56 MUVICO LLC 11,909.0 $7.4M 0.51% $617.70
57 FLUOR CORP 6,000.0 $7.3M 0.51% $1223.70
58 PEBBLEBROOK HOTEL TR 7,473.0 $7.3M 0.51% $978.50
59 CLEAR CHANNEL OUTDOOR HO 7,275.0 $7.3M 0.51% NEW $1004.75
60 VIZSLA SILVER CORP 7,210.0 $7.3M 0.51% $1006.92
Page 3 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%