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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 4 of 25  ·  487 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
61 FRESHPET INC 6,140.0 $7.1M 0.50% +1K +22.8% $1160.50
62 PFSI PENNYMAC FINL SVCS INC NEW Financial Services 81,002.0 $7.1M 0.49% +78K +2598.3% $87.40 +0.5%
63 BITDEER TECHNOLOGIES GRP 7,000.0 $7.1M 0.49% +3K +75.0% $1009.12
64 DCH DAUCH CORP Industrials 1,184,918.0 $7.0M 0.49% +356K +42.9% $5.93 +15.9%
65 STRATEGY INC 8,000.0 $6.9M 0.48% NEW $868.00
66 SHOP PUT SHOPIFY INC Technology 58,000.0 $6.9M 0.48% NEW $118.62 -17.9%
67 EEM PUT ISHARES TR 120,000.0 $6.8M 0.48% NEW $56.79 +14.6%
68 SUNC SUNOCOCORP LLC Energy 105,090.0 $6.5M 0.45% $61.65 +14.0%
69 ON SEMICONDUCTOR CORP 5,000.0 $6.5M 0.45% $1290.50
70 FSLR FIRST SOLAR INC Energy 32,500.0 $6.4M 0.45% +14K +73.3% $197.26 +17.4%
71 PUT GAMESTOP CORP 275,000.0 $6.3M 0.44% $23.04
72 GLD SPDR GOLD TR Financial Services 14,603.0 $6.3M 0.44% NEW $430.29 -0.7%
73 GALAXY DIGITAL HOLDIN LP 5,500.0 $6.3M 0.44% $1138.59
74 PEBBLEBROOK HOTEL TRUST 6,000.0 $6.2M 0.43% NEW $1025.07
75 GUIDEWIRE SOFTWARE INC 6,000.0 $6.0M 0.42% NEW $998.60
76 ABVX ABIVAX SA Healthcare 53,741.0 $6.0M 0.42% +31K +138.8% $111.35 +2.9%
77 SUN PUT SUNOCO LP/SUNOCO FIN CORP Energy 90,000.0 $5.8M 0.41% $64.97 +7.9%
78 NABORS INDS INC 6,315.0 $5.8M 0.41% +3K +90.5% $923.70
79 MARA HOLDINGS INC 6,000.0 $5.8M 0.40% $962.20
80 GDX PUT VANECK ETF TRUST 62,500.0 $5.7M 0.40% -168K -72.8% $91.77 -4.8%
Page 4 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%