K2 PRINCIPAL FUND, L.P.
Securities ▲▼ | Shares | Value ($K) | |||||
|---|---|---|---|---|---|---|---|
Q2 2025 ▲▼ | Q3 2025 ▲▼ | Change ▲▼ | Q2 2025 ▲▼ | Q3 2025 ▲▼ | Weight (%) ▲▼ | Change ▲▼ | |
| SPDR GOLD TR(GLD)(Call) | 105,000 | 205,000 | +100,000 | 32,007,149 | 72,871,350 | — | +40,864,201 |
| VANGUARD INDEX FDS(Call) | 2,500 | 55,000 | +52,500 | 1,420,075 | 33,680,900 | — | +32,260,825 |
| WESTERN DIGITAL CORP(WDC) | 0 | 0 | 0 | 0 | 24,024,750 | 2.52% | +24,024,750 |
| SPDR GOLD TR(GLD) | 9,746 | 69,646 | +59,900 | 2,970,873 | 24,757,064 | 2.60% | +21,786,191 |
| IREN LTD | 0 | 0 | 0 | 0 | 21,527,550 | 2.26% | +21,527,550 |
| INVESCO QQQ TR(Put) | 0 | 35,000 | +35,000 | 0 | 21,012,950 | — | +21,012,950 |
| ALLIED GOLD CORP(AAUC) | 0 | 0 | 0 | 0 | 17,981,850 | 1.89% | +17,981,850 |
| APPLIED DIGITAL CORP | 0 | 0 | 0 | 0 | 17,595,445 | 1.85% | +17,595,445 |
| MARRIOTT VACATIONS WORLDWIDE(VAC) | 0 | 0 | 0 | 0 | 14,787,000 | 1.55% | +14,787,000 |
| MICROSTRATEGY | 0 | 0 | 0 | 0 | 13,475,850 | 1.42% | +13,475,850 |
| VIRGIN GALACTIC | 0 | 0 | 0 | 0 | 13,312,485 | 1.40% | +13,312,485 |
| MARA HOLDINGS | 0 | 0 | 0 | 0 | 12,587,188 | 1.32% | +12,587,188 |
| ISHARES SILVER TR(SLV)(Call) | 328,000 | 550,000 | +222,000 | 10,761,680 | 23,303,499 | — | +12,541,819 |
| AMER HOTEL INC PROP REIT | 0 | 0 | 0 | 0 | 10,982,178 | 1.15% | +10,982,178 |
| WAYFAIR INC(W)(Call) | 12,000 | 129,500 | +117,500 | 613,680 | 11,568,235 | — | +10,954,555 |
| COREWEAVE INC(CRWV)(Put) | 10,000 | 89,500 | +79,500 | 1,630,600 | 12,248,076 | — | +10,617,476 |
| MUVICO LLC(AMC) | 0 | 0 | 0 | 0 | 10,409,353 | 1.09% | +10,409,353 |
| STRATHCONA RESOU | 0 | 0 | 0 | 0 | 10,013,200 | 1.05% | +10,013,200 |
| NEXTERA ENGY PTR(XIFR) | 0 | 0 | 0 | 0 | 9,809,350 | 1.03% | +9,809,350 |
| GREENFIRE RESOUR | 0 | 0 | 0 | 0 | 9,503,429 | 1.00% | +9,503,429 |
| LUCID GROUP(LCID) | 0 | 0 | 0 | 0 | 9,329,700 | 0.98% | +9,329,700 |
| GALAXY DIG HO LP | 0 | 0 | 0 | 0 | 9,104,755 | 0.96% | +9,104,755 |
| IIP OP PRTNRSHP(IIPR) | 0 | 0 | 0 | 0 | 9,017,881 | 0.95% | +9,017,881 |
| MARA HOLDINGS | 0 | 0 | 0 | 0 | 8,602,470 | 0.90% | +8,602,470 |
| B2GOLD CORP | 0 | 0 | 0 | 0 | 8,459,550 | 0.89% | +8,459,550 |
| CLEANSPARK INC | 0 | 0 | 0 | 0 | 8,049,893 | 0.85% | +8,049,893 |
| OPENDOOR TECHNOLOGIES INC(OPEN) | 0 | 1,008,714 | +1,008,714 | 0 | 8,039,450 | 0.84% | +8,039,450 |
| GAMESTOP CORP(GME) | 0 | 0 | 0 | 0 | 7,963,620 | 0.84% | +7,963,620 |
| WISDOMTREE INC(WT) | 0 | 0 | 0 | 0 | 7,837,800 | 0.82% | +7,837,800 |
| FREEPORT-MCMORAN INC(FCX)(Put) | 0 | 196,000 | +196,000 | 0 | 7,687,120 | — | +7,687,120 |
| OPENDOOR TECHNOL(OPEN) | 0 | 0 | 0 | 0 | 7,622,405 | 0.80% | +7,622,405 |
| HOWARD HUGHES HOLDINGS INC(HHH)(Call) | 52,000 | 130,000 | +78,000 | 3,510,000 | 10,682,100 | — | +7,172,100 |
| FLUOR CORP(FLR) | 0 | 0 | 0 | 0 | 7,129,800 | 0.75% | +7,129,800 |
| SPHERE ENTERTAINMENT CO(SPHR)(Call) | 0 | 114,700 | +114,700 | 0 | 7,125,164 | — | +7,125,164 |
| VERINT SYSTEMS INC | 0 | 0 | 0 | 0 | 7,118,050 | 0.75% | +7,118,050 |
| TERAWULF INC | 0 | 0 | 0 | 0 | 6,462,640 | 0.68% | +6,462,640 |
| AST SPACEMOBILE | 0 | 0 | 0 | 0 | 6,295,275 | 0.66% | +6,295,275 |
| LUMENTUM HLDGS INC(LITE) | 0 | 0 | 0 | 10,765,300 | 16,926,700 | 1.78% | +6,161,400 |
| CORE SCIENTIFIC INC NEW(CORZ) | 346,591 | 668,101 | +321,510 | 5,916,308 | 11,985,732 | 1.26% | +6,069,424 |
| BLACKSKY TECHNOLOGY INC | 0 | 0 | 0 | 0 | 5,625,950 | 0.59% | +5,625,950 |
| ISHARES SILVER TR(SLV) | 19,400 | 146,631 | +127,231 | 636,514 | 6,212,755 | 0.65% | +5,576,241 |
| MICROSTRATEGY | 0 | 0 | 0 | 0 | 5,212,250 | 0.55% | +5,212,250 |
| BOX INC(BOX) | 0 | 0 | 0 | 0 | 5,040,500 | 0.53% | +5,040,500 |
| CERENCE INC | 0 | 0 | 0 | 0 | 4,989,000 | 0.52% | +4,989,000 |
| ENPHASE ENERGY INC(ENPH) | 0 | 0 | 0 | 0 | 4,988,310 | 0.52% | +4,988,310 |
| EQV VENTURES AC CORP. II | 0 | 483,973 | +483,973 | 0 | 4,815,531 | 0.51% | +4,815,531 |
| RIOT PLATFORMS | 0 | 0 | 0 | 0 | 4,585,830 | 0.48% | +4,585,830 |
| MARA HOLDINGS INC(MARA)(Call) | 0 | 250,000 | +250,000 | 0 | 4,565,000 | — | +4,565,000 |
| TALON CAP CORP | 0 | 450,000 | +450,000 | 0 | 4,522,500 | 0.48% | +4,522,500 |
| OPENDOOR TECHNOLOGIES INC(OPEN)(Put) | 0 | 550,000 | +550,000 | 0 | 4,383,500 | — | +4,383,500 |
| GETTY IMAGES INC | 0 | 0 | 0 | 0 | 4,376,923 | 0.46% | +4,376,923 |
| ISHARES TR(Call) | 0 | 40,000 | +40,000 | 0 | 4,290,000 | — | +4,290,000 |
| DRUGS MADE IN AMER ACQ II CO | 0 | 426,507 | +426,507 | 0 | 4,239,479 | 0.45% | +4,239,479 |
| AMERICAN AXLE MFG HLDGS IN | 0 | 696,786 | +696,786 | 0 | 4,187,684 | 0.44% | +4,187,684 |
| XPONENTIAL FITNESS INC | 221,043 | 740,000 | +518,957 | 1,655,612 | 5,764,600 | 0.61% | +4,108,988 |
| SPHERE ENTERTAINMENT CO(SPHR) | 0 | 0 | 0 | 11,996,900 | 16,104,100 | 1.69% | +4,107,200 |
| BITDEER TECHNO(BTDR) | 0 | 0 | 0 | 0 | 4,101,105 | 0.43% | +4,101,105 |
| COHEN CIRCLE ACQUISIT CORP I | 0 | 400,000 | +400,000 | 0 | 4,060,000 | 0.43% | +4,060,000 |
| MA-COM TECH | 0 | 0 | 0 | 0 | 4,051,920 | 0.43% | +4,051,920 |
| I-80 GOLD CORP | 0 | 0 | 0 | 0 | 4,000,000 | 0.42% | +4,000,000 |
| VANECK ETF TRUST(Call) | 0 | 40,000 | +40,000 | 0 | 3,961,200 | — | +3,961,200 |
| RAYONIER ADVANCED MATLS INC | 0 | 542,720 | +542,720 | 0 | 3,918,438 | 0.41% | +3,918,438 |
| FIVERR INTL LTD | 0 | 0 | 0 | 0 | 3,733,870 | 0.39% | +3,733,870 |
| AMERICAN EXCEPTIONALISM ACQU | 0 | 330,235 | +330,235 | 0 | 3,609,469 | 0.38% | +3,609,469 |
| VANECK ETF TRUST(Put) | 0 | 35,000 | +35,000 | 0 | 3,466,050 | — | +3,466,050 |
| SOLARIS ENERGY INFRAS INC(SEI)(Call) | 0 | 85,000 | +85,000 | 0 | 3,397,450 | — | +3,397,450 |
| ROCKET COS INC(RKT)(Put) | 0 | 165,000 | +165,000 | 0 | 3,197,700 | — | +3,197,700 |
| MR COOPER GROUP INC | 0 | 15,000 | +15,000 | 0 | 3,161,850 | 0.33% | +3,161,850 |
| SHELF DRILL HOLD LTD | 0 | 0 | 0 | 0 | 3,145,275 | 0.33% | +3,145,275 |
| AST SPACEMOBILE INC(ASTS) | 0 | 0 | 0 | 0 | 3,126,345 | 0.33% | +3,126,345 |
| LCI INDUSTRIES(LCII) | 0 | 0 | 0 | 0 | 3,076,065 | 0.32% | +3,076,065 |
| BTC DEV CORP | 0 | 300,000 | +300,000 | 0 | 3,030,000 | 0.32% | +3,030,000 |
| HCM III ACQUISITION CORP | 0 | 300,000 | +300,000 | 0 | 3,030,000 | 0.32% | +3,030,000 |
| PAR TECHNOLOGY CORP | 0 | 75,132 | +75,132 | 0 | 2,973,725 | 0.31% | +2,973,725 |
| GALATA ACQUISITION CORP II | 0 | 282,100 | +282,100 | 0 | 2,815,358 | 0.30% | +2,815,358 |
| JENA ACQUISITION CORP II | 0 | 275,000 | +275,000 | 0 | 2,791,250 | 0.29% | +2,791,250 |
| LIONSGATE STUDIOS CORP(LION) | 0 | 380,785 | +380,785 | 0 | 2,627,417 | 0.28% | +2,627,417 |
| BARRICK MNG CORP(B) | 0 | 79,845 | +79,845 | 0 | 2,616,521 | 0.27% | +2,616,521 |
| INVESQUE INC | 0 | 0 | 0 | 0 | 2,577,669 | 0.27% | +2,577,669 |
| CANTOR EQUITY PARTNERS IV IN | 0 | 252,641 | +252,641 | 0 | 2,574,412 | 0.27% | +2,574,412 |
| GALAXY DIG HO LP | 0 | 0 | 0 | 0 | 2,564,710 | 0.27% | +2,564,710 |
| FRANCO NEV CORP(FNV) | 0 | 11,500 | +11,500 | 0 | 2,563,465 | 0.27% | +2,563,465 |
| SUNRUN INC(RUN) | 0 | 0 | 0 | 2,859,600 | 5,408,000 | 0.57% | +2,548,400 |
| CENTURY ALUM CO(CENX) | 0 | 0 | 0 | 6,885,620 | 9,378,250 | 0.99% | +2,492,630 |
| NEXTERA ENGY PTR | 0 | 0 | 0 | 0 | 2,482,513 | 0.26% | +2,482,513 |
| PROCAP ACQUISITION CORP | 0 | 217,301 | +217,301 | 0 | 2,231,681 | 0.23% | +2,231,681 |
| SOLARIS ENERGY INFRAS INC(SEI) | 0 | 0 | 0 | 6,369,750 | 8,584,670 | 0.90% | +2,214,920 |
| ISHARES SILVER TR(SLV)(Put) | 0 | 50,000 | +50,000 | 0 | 2,118,500 | — | +2,118,500 |
| NATIONSTAR MTG HLD INC | 0 | 0 | 0 | 0 | 2,055,360 | 0.22% | +2,055,360 |
| WEN ACQUISITION CORP | 0 | 202,663 | +202,663 | 0 | 2,050,950 | 0.22% | +2,050,950 |
| LPL FINL HLDGS INC(LPLA) | 0 | 6,115 | +6,115 | 0 | 2,034,399 | 0.21% | +2,034,399 |
| SPRING VY ACQUISITION CORP I | 0 | 200,000 | +200,000 | 0 | 2,020,000 | 0.21% | +2,020,000 |
| BAIN CAP GSS INVT CORP | 0 | 200,000 | +200,000 | 0 | 2,018,000 | 0.21% | +2,018,000 |
| APPLOVIN CORP(APP) | 6,167 | 5,788 | -379 | 2,158,943 | 4,158,909 | 0.44% | +1,999,966 |
| EMMIS ACQUISITION CORP. | 0 | 197,553 | +197,553 | 0 | 1,971,579 | 0.21% | +1,971,579 |
| CAMECO CORP(CCJ) | 0 | 23,000 | +23,000 | 0 | 1,928,780 | 0.20% | +1,928,780 |
| DOCEBO INC | 10,100 | 79,910 | +69,810 | 292,294 | 2,183,940 | 0.23% | +1,891,646 |
| PAR TECHNOLOGY CORP(Call) | 0 | 47,000 | +47,000 | 0 | 1,860,260 | — | +1,860,260 |
| GOLD ROYALTY CORP | 990,295 | 1,145,422 | +155,127 | 346,603 | 2,050,305 | 0.22% | +1,703,702 |
| INTEL CORP(INTC)(Call) | 0 | 50,000 | +50,000 | 0 | 1,677,500 | — | +1,677,500 |