Fund Holdings — K2 PRINCIPAL FUND, L.P.

Total Portfolio Value
$951.82M
Total Bought
$159.85M
Total Sold
$123.39M
Net Transaction
+$36.46M
Filing Period:
Securities
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SharesValue ($K)
Q2 2025
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Q3 2025
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Change
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Q2 2025
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Q3 2025
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Weight (%)
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Change
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WESTERN DIGITAL CORP(WDC)000024,0252.52%+24,025
SPDR GOLD TR(GLD)9,74669,646+59,9002,97124,7572.60%+21,786
IREN LTD000021,5282.26%+21,528
ALLIED GOLD CORP(AAUC)000017,9821.89%+17,982
APPLIED DIGITAL CORP000017,5951.85%+17,595
MARRIOTT VACATIONS WORLDWIDE(VAC)000014,7871.55%+14,787
MICROSTRATEGY000013,4761.42%+13,476
VIRGIN GALACTIC000013,3121.40%+13,312
MARA HOLDINGS000012,5871.32%+12,587
AMER HOTEL INC PROP REIT000010,9821.15%+10,982
MUVICO LLC(AMC)000010,4091.09%+10,409
STRATHCONA RESOU000010,0131.05%+10,013
NEXTERA ENGY PTR(XIFR)00009,8091.03%+9,809
GREENFIRE RESOUR00009,5031.00%+9,503
LUCID GROUP(LCID)00009,3300.98%+9,330
GALAXY DIG HO LP00009,1050.96%+9,105
IIP OP PRTNRSHP(IIPR)00009,0180.95%+9,018
MARA HOLDINGS00008,6020.90%+8,602
B2GOLD CORP00008,4600.89%+8,460
CLEANSPARK INC00008,0500.85%+8,050
OPENDOOR TECHNOLOGIES INC(OPEN)01,008,714+1,008,71408,0390.84%+8,039
GAMESTOP CORP(GME)00007,9640.84%+7,964
WISDOMTREE INC(WT)00007,8380.82%+7,838
OPENDOOR TECHNOL(OPEN)00007,6220.80%+7,622
FLUOR CORP(FLR)00007,1300.75%+7,130
VERINT SYSTEMS INC00007,1180.75%+7,118
TERAWULF INC00006,4630.68%+6,463
AST SPACEMOBILE00006,2950.66%+6,295
LUMENTUM HLDGS INC(LITE)00010,76516,9271.78%+6,161
CORE SCIENTIFIC INC NEW(CORZ)346,591668,101+321,5105,91611,9861.26%+6,069
BLACKSKY TECHNOLOGY INC(BKSY)00005,6260.59%+5,626
ISHARES SILVER TR(SLV)19,400146,631+127,2316376,2130.65%+5,576
MICROSTRATEGY00005,2120.55%+5,212
BOX INC(BOX)00005,0410.53%+5,041
CERENCE INC(CRNC)00004,9890.52%+4,989
ENPHASE ENERGY INC(ENPH)00004,9880.52%+4,988
EQV VENTURES AC CORP. II
ORD SHS CL A
0483,973+483,97304,8160.51%+4,816
RIOT PLATFORMS00004,5860.48%+4,586
TALON CAP CORP
UNIT 08/27/2030
0450,000+450,00004,5230.48%+4,523
GETTY IMAGES INC00004,3770.46%+4,377
DRUGS MADE IN AMER ACQ II CO
UNIT 09/16/2030
0426,507+426,50704,2390.45%+4,239
AMERICAN AXLE MFG HLDGS IN0696,786+696,78604,1880.44%+4,188
XPONENTIAL FITNESS INC(XPOF)221,043740,000+518,9571,6565,7650.61%+4,109
SPHERE ENTERTAINMENT CO(SPHR)00011,99716,1041.69%+4,107
BITDEER TECHNO(BTDR)00004,1010.43%+4,101
COHEN CIRCLE ACQUISIT CORP I
SHS CL A
0400,000+400,00004,0600.43%+4,060
MA-COM TECH00004,0520.43%+4,052
I-80 GOLD CORP00004,0000.42%+4,000
RAYONIER ADVANCED MATLS INC(RYAM)0542,720+542,72003,9180.41%+3,918
FIVERR INTL LTD(FVRR)00003,7340.39%+3,734
AMERICAN EXCEPTIONALISM ACQU
ORD CL A
0330,235+330,23503,6090.38%+3,609
MR COOPER GROUP INC015,000+15,00003,1620.33%+3,162
SHELF DRILL HOLD LTD00003,1450.33%+3,145
AST SPACEMOBILE INC(ASTS)00003,1260.33%+3,126
LCI INDUSTRIES(LCII)00003,0760.32%+3,076
BTC DEV CORP(BDCI)0300,000+300,00003,0300.32%+3,030
HCM III ACQUISITION CORP(HCMA)0300,000+300,00003,0300.32%+3,030
PAR TECHNOLOGY CORP(PAR)075,132+75,13202,9740.31%+2,974
GALATA ACQUISITION CORP II(LATA)0282,100+282,10002,8150.30%+2,815
JENA ACQUISITION CORP II(JENA)0275,000+275,00002,7910.29%+2,791
LIONSGATE STUDIOS CORP(LION)0380,785+380,78502,6270.28%+2,627
BARRICK MNG CORP(B)079,845+79,84502,6170.27%+2,617
INVESQUE INC00002,5780.27%+2,578
CANTOR EQUITY PARTNERS IV IN
SHS CL A
0252,641+252,64102,5740.27%+2,574
GALAXY DIG HO LP00002,5650.27%+2,565
FRANCO NEV CORP(FNV)011,500+11,50002,5630.27%+2,563
SUNRUN INC(RUN)0002,8605,4080.57%+2,548
CENTURY ALUM CO(CENX)0006,8869,3780.99%+2,493
NEXTERA ENGY PTR00002,4830.26%+2,483
PROCAP ACQUISITION CORP(PCAP)0217,301+217,30102,2320.23%+2,232
SOLARIS ENERGY INFRAS INC(SEI)0006,3708,5850.90%+2,215
NATIONSTAR MTG HLD INC00002,0550.22%+2,055
WEN ACQUISITION CORP(WENN)0202,663+202,66302,0510.22%+2,051
LPL FINL HLDGS INC(LPLA)06,115+6,11502,0340.21%+2,034
SPRING VY ACQUISITION CORP I
SHS CL A
0200,000+200,00002,0200.21%+2,020
BAIN CAP GSS INVT CORP
UNIT 99/99/9999
0200,000+200,00002,0180.21%+2,018
APPLOVIN CORP(APP)6,1675,788-3792,1594,1590.44%+2,000
EMMIS ACQUISITION CORP.0197,553+197,55301,9720.21%+1,972
CAMECO CORP(CCJ)023,000+23,00001,9290.20%+1,929
DOCEBO INC(DCBO)10,10079,910+69,8102922,1840.23%+1,892
GOLD ROYALTY CORP(GROY)990,2951,145,422+155,1273472,0500.22%+1,704
BRITISH AMERN TOB PLC(BTI)38,20065,356+27,1561,8083,4690.36%+1,661
TERADYNE INC(TER)012,000+12,00001,6520.17%+1,652
KYIVSTAR GROUP LTD(KYIV)0395,441+395,44101,6050.17%+1,605
PEAKSTONE REALTY TRUST
COMMON SHARES
116,697237,403+120,7061,5423,1150.33%+1,573
CHENGHE ACQUISITION III CO(CHEC)0156,706+156,70601,5640.16%+1,564
GOPRO INC0004,5365,9280.62%+1,393
VOX ROYALTY CORP(VOXR)0317,500+317,50001,3650.14%+1,365
FLOOR DECOR HLDGS INC(FND)018,500+18,50001,3630.14%+1,363
CANNABIST CO HLDGS INC00001,3470.14%+1,347
FIRST MAJESTIC SILVER CORP(AG)00014,06415,3931.62%+1,330
REDDIT INC(RDDT)05,481+5,48101,2610.13%+1,261
WISDOMTREE INC(WT)0008,2929,4510.99%+1,159
SERITAGE GROWTH PPTYS(SRG)1,015,7861,000,000-15,7863,1294,2500.45%+1,121
OUTFRONT MEDIA INC(OUT)060,435+60,43501,1070.12%+1,107
LUMENTUM HLDGS INC(LITE)0003,1034,1910.44%+1,088
CHAMPION IRON CANADA INC00001,0460.11%+1,046
1RT ACQUISITION CORP.(ONCH)0100,000+100,00001,0450.11%+1,045
EMX RTY CORP0201,488+201,48801,0380.11%+1,038
M3-BRIGADE ACQUISITION VI CO(MBVI)0100,000+100,00001,0120.11%+1,012
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K2 PRINCIPAL FUND, L.P. — 13F Holdings — Q3 2025 | TickerTrail