Fund Holdings — K2 PRINCIPAL FUND, L.P.

Total Portfolio Value
$947.48M
Total Bought
$177.80M
Total Sold
$114.57M
Net Transaction
+$63.23M
Filing Period:
Securities
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SharesValue ($K)
Q4 2025
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Q1 2026
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Change
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Q4 2025
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Q1 2026
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Weight (%)
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Change
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PAR TECHNOLOGY CORP(PAR)000015,0371.59%+15,037
VEECO INSTRS INC DEL(VECO)000013,8431.46%+13,843
CLOUDFLARE INC(NET)000013,6251.44%+13,625
KENNEDY-WILSON INC000012,2691.29%+12,269
WIX LTD(WIX)000012,0431.27%+12,043
I-80 GOLD CORP(IAUX)000011,2041.18%+11,204
ETSY INC(ETSY)00009,6611.02%+9,661
RUBRIK INC(RBRK)00009,4711.00%+9,471
AKAMAI TECHNOLOGIES INC(AKAM)00009,1420.96%+9,142
GOLAR LNG LTD(GLNG)0005,80414,2711.51%+8,467
COREWEAVE INC(CRWV)00008,0460.85%+8,046
CLEAR CHANNEL OUTDOOR HO(CCO)00007,3100.77%+7,310
STRATEGY INC(MSTR)00006,9440.73%+6,944
PENNYMAC FINL SVCS INC NEW(PFSI)3,00281,002+78,0003967,0800.75%+6,684
SPDR GOLD TR(GLD)014,603+14,60306,2840.66%+6,284
PEBBLEBROOK HOTEL TRUST(PEB)00006,1500.65%+6,150
GUIDEWIRE SOFTWARE INC(GWRE)00005,9920.63%+5,992
MARRIOTT VACATIONS WORLDWIDE(VAC)0002,8648,6650.91%+5,802
DENISON MINES CORP(DNN)0003,8999,3280.98%+5,429
PELOTON INTERACTIVE INC(PTON)00005,3660.57%+5,366
ALPHABET INC(GOOG)13,35433,205+19,8514,1909,5251.01%+5,335
WILLOW LANE ACQUISITION CRP
UNIT 01/27/2031
0450,000+450,00004,5450.48%+4,545
ARS PHARMACEUTICALS INC(SPRY)10,200559,697+549,4971194,4940.47%+4,376
BOX INC(BOX)0004,8779,2120.97%+4,335
DROPBOX INC(DBX)0007,08111,4001.20%+4,320
PLUG POWER INC(PLUG)00004,3120.46%+4,312
BLOOM ENERGY CORP(BE)00004,2600.45%+4,260
WILLOW LANE ACQUISITION CORP
ORD SHS CL A
0397,897+397,89704,2380.45%+4,238
BLACKSKY TECHNOLOGY INC(BKSY)0005,3429,1970.97%+3,855
SUNRUN INC(RUN)0005,6669,4721.00%+3,806
COLOMBIER ACQUISITION CORP I
ORD SHS CL A
0372,211+372,21103,7440.40%+3,744
KENNEDY-WILSON INC00003,5300.37%+3,530
INTUITIVE MACHINES INC(LUNR)00003,5220.37%+3,522
ENERGY FUELS INC(UUUU)00003,5080.37%+3,508
COLUMBUS CIRCLE CAP CORP II
USD CL A ORD SHS
0337,415+337,41503,3170.35%+3,317
PROCAP FINL INC(BRR)01,552,900+1,552,90003,2770.35%+3,277
NABORS INDS INC(NBR)0002,6885,8330.62%+3,145
OR ROYALTIES INC.(OR)080,000+80,00003,0420.32%+3,042
ADVANCED ENERGY INDS(AEIS)0006,5689,6051.01%+3,037
STRATEGY INC(MSTR)0005,0718,1000.85%+3,029
INFINITE EAGLE ACQUISITION C
CL A
0300,000+300,00003,0000.32%+3,000
ARCHIMEDES TECH SPAC PTNRS I
ORD SHS
0299,536+299,53602,9500.31%+2,950
ABIVAX SA(ABVX)22,50053,741+31,2413,0345,9840.63%+2,950
DATADOG INC(DDOG)00002,9090.31%+2,909
D BORAL ACQUISITION I CORP(DBCA)0276,220+276,22002,7240.29%+2,724
BITDEER TECHNOLOGIES GRP(BTDR)0004,5337,0640.75%+2,531
IIP OPERATING PARTNER(IIPR)0005,0337,5510.80%+2,518
GAMESTOP CORP(GME)00011,89114,4001.52%+2,509
SPARTACUS ACQUISITION CORP I
UNIT 01/30/2031
0250,000+250,00002,5080.26%+2,508
ALGONQUIN POWER UTILITIES200,000600,000+400,0001,2303,6840.39%+2,454
SILVERBOX CORP V(SBXE)0243,400+243,40002,4150.25%+2,415
SEMRUSH HLDGS INC
CL A COM
0200,000+200,00002,3880.25%+2,388
PAPA JOHNS INTL INC(PZZA)073,200+73,20002,3720.25%+2,372
PROPETRO HLDG CORP(PUMP)0162,208+162,20802,3370.25%+2,337
ISHARES BITCOIN TRUST ETF(IBIT)57,322133,822+76,5002,8465,1410.54%+2,295
VISTRA CORP(VST)10,00025,850+15,8501,6133,8860.41%+2,273
MICROSOFT CORP(MSFT)06,000+6,00002,2210.23%+2,221
WISDOMTREE INC(WT)0007,2359,3620.99%+2,127
SPACE ASSET ACQUISITION CORP(SAAQ)0212,161+212,16102,1130.22%+2,113
INFLECTION PT ACQUISIT CORP
UNIT 03/03/2031
0200,000+200,00002,0240.21%+2,024
BAIN CAP GSS INVT CORP
ORD CL A
0200,000+200,00002,0220.21%+2,022
CLEAR CHANNEL OUTDOOR HO(CCO)00002,0130.21%+2,013
PELOTON INTERACTIVE INC(PTON)0468,237+468,23702,0090.21%+2,009
HCM IV ACQUISITION CORP(HACQ)0200,000+200,00002,0060.21%+2,006
SUMA ACQUISITION CORP(SUMA)0200,000+200,00002,0040.21%+2,004
PAR TECHNOLOGY CORP(PAR)00001,9990.21%+1,999
SOLARIS ENERGY INFRAS INC(SEI)00013,00615,0041.58%+1,998
SPRING VY ACQUISITION CORP I
SHS CL A
175,000370,960+195,9601,7763,7690.40%+1,993
BLUE WTR ACQUISITION CORP IV
UNIT 99/99/9999
0200,000+200,00001,9840.21%+1,984
ASML HLDG NV
N Y REGISTRY SHS
01,500+1,50001,9810.21%+1,981
QDRO ACQUISITION CORP(QADR)0199,698+199,69801,9790.21%+1,979
SILICON VY ACQUISITION CORP
CL A
0200,000+200,00001,9780.21%+1,978
UNIQURE NV(QURE)0118,600+118,60001,9390.20%+1,939
APTIV PLC(APTV)027,656+27,65601,9200.20%+1,920
PAPA JOHN'S INTERNATIONA(PZZA)00001,9100.20%+1,910
ISHARES TR07,635+7,63501,8930.20%+1,893
ARRAY TECHNOLOGIES INC(ARRY)0009052,6960.28%+1,790
DAUCH CORP829,1921,184,918+355,7265,3157,0270.74%+1,711
ELEMENT SOLUTIONS INC(ESI)048,600+48,60001,6590.18%+1,659
NVENT ELEC PLC(NVT)013,980+13,98001,6540.17%+1,654
VERSAMET ROYALTIES CORP(VMET)0124,800+124,80001,6470.17%+1,647
AMENTUM HOLDINGS INC060,000+60,00001,5650.17%+1,565
X3 ACQUISITION CORP LTD(XCBE)0155,633+155,63301,5310.16%+1,531
FIRST SOLAR INC(FSLR)18,75032,500+13,7504,8986,4110.68%+1,513
SKYWATER TECHNOLOGY INC054,653+54,65301,4980.16%+1,498
ALUSSA ENERGY ACQUISIT CORP
ORD SHS CL A
0150,000+150,00001,4970.16%+1,497
MOZAYYX ACQUISITION CORP(MZYX)0150,000+150,00001,4910.16%+1,491
IDEA ACQUISITION CORP(IACO)0150,000+150,00001,4870.16%+1,487
STAGWELL INC(STGW)0229,170+229,17001,4410.15%+1,441
LIONSGATE STUDIOS CORP(LION)296,069419,605+123,5362,7034,0240.42%+1,321
SUNOCOCORP LLC(SUNC)105,090105,09005,1796,4790.68%+1,300
FRESHPET INC(FRPT)0005,8537,1250.75%+1,273
GOLDEN ENTMT INC046,937+46,93701,2530.13%+1,253
LULULEMON ATHLETICA INC(LULU)1,50010,000+8,5003121,5310.16%+1,219
FLEXTRONICS INTL LTD(FLEX)018,484+18,48401,2100.13%+1,210
CORE NATURAL RESOURCES INC(CNR)011,375+11,37501,1910.13%+1,191
APPLOVIN CORP(APP)4,23210,068+5,8362,8524,0070.42%+1,155
MARA HOLDINGS INC(MARA)0009,90611,0541.17%+1,148
QORVO INC(QRVO)014,480+14,48001,1210.12%+1,121
ELECTRONIC ARTS INC05,000+5,00001,0190.11%+1,019
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K2 PRINCIPAL FUND, L.P. — 13F Holdings — Q1 2026 | TickerTrail