K2 PRINCIPAL FUND, L.P.
Comparing Q4 2025 vs Q3 2025
Sorting applies to all holdings for this quarter on the server, then the page is sliced. Prior-quarter values come from the full prior-quarter filing.
Issuer ▲▼ | Shares | Value ($K) | ||||
|---|---|---|---|---|---|---|
Q3 2025 ▲▼ | Q4 2025 ▲▼ | Change ▲▼ | Q3 2025 ▲▼ | Q4 2025 ▲▼ | Change ▲▼ | |
| SPDR SP 500 ETF TR(Call) | 0 | 58,200 | +58,200 | 0 | 39,687,743 | +39,687,743 |
| LUMENTUM HLDGS INC | 0 | 0 | 0 | 4,191,000 | 39,778,200 | +35,587,200 |
| VANECK ETF TRUST(Put) | 0 | 230,000 | +230,000 | 0 | 19,727,099 | +19,727,099 |
| APPLIED DIGITAL CORP | 0 | 0 | 0 | 0 | 18,841,200 | +18,841,200 |
| FIRST MAJESTIC | 0 | 0 | 0 | 0 | 16,081,007 | +16,081,007 |
| PELOTON INTERACTIVE INC | 0 | 0 | 0 | 0 | 15,561,410 | +15,561,410 |
| MARRIOTT VACATIONS WORLDWIDE | 0 | 0 | 0 | 0 | 14,970,000 | +14,970,000 |
| PAR TECHNOLOGY CORP(Call) | 47,000 | 420,000 | +373,000 | 1,860,260 | 15,237,599 | +13,377,339 |
| SOLARIS ENERGY INFRAS INC | 0 | 0 | 0 | 0 | 13,005,600 | +13,005,600 |
| STRATEGY INC | 0 | 0 | 0 | 0 | 12,352,500 | +12,352,500 |
| AST SPACEMOBILE INC | 0 | 0 | 0 | 3,126,345 | 15,178,160 | +12,051,815 |
| UBER TECHNOLOGIES INC | 0 | 0 | 0 | 0 | 10,400,000 | +10,400,000 |
| FREEPORT-MCMORAN INC(Put) | 196,000 | 350,000 | +154,000 | 7,687,120 | 17,776,500 | +10,089,380 |
| CERENCE INC | 0 | 0 | 0 | 4,989,000 | 15,023,080 | +10,034,080 |
| MARA HOLDINGS INC | 0 | 0 | 0 | 0 | 9,906,250 | +9,906,250 |
| VIZSLA SILVER CORP | 0 | 0 | 0 | 0 | 9,455,590 | +9,455,590 |
| PAR TECHNOLOGY CORP | 0 | 0 | 0 | 3,878,400 | 12,236,250 | +8,357,850 |
| THE REALREAL INC | 0 | 0 | 0 | 0 | 8,047,800 | +8,047,800 |
| SOLAREDGE TECHNOLOGIES INC | 0 | 0 | 0 | 0 | 7,857,680 | +7,857,680 |
| DROPBOX INC | 0 | 0 | 0 | 0 | 7,803,200 | +7,803,200 |
| GAMESTOP CORP NEW(Call) | 0 | 376,500 | +376,500 | 0 | 7,560,120 | +7,560,120 |
| MARA HOLDINGS INC | 0 | 0 | 0 | 0 | 7,529,400 | +7,529,400 |
| SPHERE ENTERTAINMENT CO | 0 | 0 | 0 | 16,104,100 | 23,444,700 | +7,340,600 |
| DROPBOX INC | 0 | 0 | 0 | 0 | 7,080,500 | +7,080,500 |
| CORE SCIENTIFIC INC NEW | 0 | 0 | 0 | 0 | 6,739,520 | +6,739,520 |
| META PLATFORMS INC(Put) | 0 | 10,000 | +10,000 | 0 | 6,600,900 | +6,600,900 |
| T1 ENERGY INC | 0 | 0 | 0 | 0 | 6,386,500 | +6,386,500 |
| ON SEMICONDUCTOR CORP | 0 | 0 | 0 | 0 | 5,978,000 | +5,978,000 |
| BLACKLINE INC | 0 | 0 | 0 | 0 | 5,940,600 | +5,940,600 |
| VANECK ETF TRUST(Put) | 35,000 | 82,000 | +47,000 | 3,466,050 | 9,329,960 | +5,863,910 |
| FRESHPET INC | 0 | 0 | 0 | 0 | 5,852,500 | +5,852,500 |
| GOLAR LNG | 0 | 0 | 0 | 0 | 5,803,560 | +5,803,560 |
| GAMESTOP CORP NEW(Put) | 0 | 275,000 | +275,000 | 0 | 5,522,000 | +5,522,000 |
| BRITISH AMERN TOB PLC | 65,356 | 155,735 | +90,379 | 3,469,097 | 8,817,716 | +5,348,619 |
| PALANTIR TECHNOLOGIES INC(Put) | 0 | 30,000 | +30,000 | 0 | 5,332,500 | +5,332,500 |
| ALLIED GOLD CORP | 0 | 0 | 0 | 17,981,850 | 23,287,200 | +5,305,350 |
| CLEANSPARK INC | 0 | 0 | 0 | 0 | 5,182,500 | +5,182,500 |
| SUNOCOCORP LLC | 0 | 105,090 | +105,090 | 0 | 5,178,835 | +5,178,835 |
| STRATEGY INC | 0 | 0 | 0 | 0 | 5,071,200 | +5,071,200 |
| ENPHASE ENERGY INC | 0 | 0 | 0 | 0 | 5,056,140 | +5,056,140 |
| GUESS INC | 0 | 0 | 0 | 0 | 4,971,500 | +4,971,500 |
| VIRGIN GALACTIC | 0 | 0 | 0 | 0 | 4,794,400 | +4,794,400 |
| SUNOCO LP/SUNOCO FIN CORP(Put) | 0 | 90,000 | +90,000 | 0 | 4,716,900 | +4,716,900 |
| ARRAY TECHNOLOGIES INC | 0 | 0 | 0 | 0 | 4,354,485 | +4,354,485 |
| ENDEAVOUR SILVER | 0 | 0 | 0 | 0 | 4,346,500 | +4,346,500 |
| BROOKFIELD INFRAST PARTNERS | 0 | 124,900 | +124,900 | 0 | 4,339,026 | +4,339,026 |
| PROCAP FINANCIAL INC | 0 | 0 | 0 | 0 | 4,299,500 | +4,299,500 |
| NEW GOLD INC CDA | 0 | 481,563 | +481,563 | 0 | 4,194,414 | +4,194,414 |
| EXACT SCIENCES CORP | 0 | 0 | 0 | 0 | 4,151,835 | +4,151,835 |
| ELEMENTAL RTY CORP | 0 | 177,356 | +177,356 | 0 | 4,119,980 | +4,119,980 |
| PROS HOLDINGS INC | 0 | 0 | 0 | 0 | 3,997,120 | +3,997,120 |
| GAMESTOP CORP | 0 | 0 | 0 | 7,963,620 | 11,890,560 | +3,926,940 |
| DENISON MINES | 0 | 0 | 0 | 0 | 3,898,950 | +3,898,950 |
| JETBLUE AIRWAYS CORP | 0 | 0 | 0 | 9,742,000 | 13,615,260 | +3,873,260 |
| PAR TECHNOLOGY CORP(Put) | 0 | 100,000 | +100,000 | 0 | 3,628,000 | +3,628,000 |
| ISHARES TR(Put) | 0 | 30,000 | +30,000 | 0 | 3,605,400 | +3,605,400 |
| GLOBAL X FDS(Put) | 0 | 50,000 | +50,000 | 0 | 3,589,500 | +3,589,500 |
| ALUSSA ENERGY ACQUISITION CO | 0 | 350,000 | +350,000 | 0 | 3,535,000 | +3,535,000 |
| BROOKFIELD RENEWABLE PARTNER | 0 | 129,900 | +129,900 | 0 | 3,468,330 | +3,468,330 |
| RIOT PLATFORMS INC | 0 | 0 | 0 | 0 | 3,404,400 | +3,404,400 |
| SOLSTICE ADVANCED MATLS INC | 0 | 69,810 | +69,810 | 0 | 3,391,370 | +3,391,370 |
| RAYONIER ADVANCED MATLS INC(Call) | 28,000 | 596,400 | +568,400 | 202,160 | 3,512,796 | +3,310,636 |
| GUARDANT HEALTH INC | 0 | 0 | 0 | 0 | 3,226,200 | +3,226,200 |
| CLEVELAND-CLIFFS INC NEW(Put) | 0 | 234,400 | +234,400 | 0 | 3,112,832 | +3,112,832 |
| ABIVAX SA | 0 | 22,500 | +22,500 | 0 | 3,034,125 | +3,034,125 |
| TALON CAP CORP | 0 | 299,752 | +299,752 | 0 | 3,030,493 | +3,030,493 |
| CYBERARK SOFTWARE LTD | 0 | 6,748 | +6,748 | 0 | 3,010,013 | +3,010,013 |
| MP MATERIALS CORP | 0 | 0 | 0 | 0 | 2,988,675 | +2,988,675 |
| SOLSTICE ADVANCED MATLS INC(Put) | 0 | 60,000 | +60,000 | 0 | 2,914,800 | +2,914,800 |
| MARRIOTT VACATIONS WORLDWIDE | 0 | 0 | 0 | 0 | 2,863,500 | +2,863,500 |
| NORFOLK SOUTHN CORP | 900 | 10,800 | +9,900 | 270,369 | 3,118,176 | +2,847,807 |
| CENTURY ALUM CO | 0 | 0 | 0 | 9,378,250 | 12,126,170 | +2,747,920 |
| ISHARES BITCOIN TRUST ETF(Put) | 0 | 55,000 | +55,000 | 0 | 2,730,750 | +2,730,750 |
| NABORS INDS INC | 0 | 0 | 0 | 0 | 2,687,800 | +2,687,800 |
| CARTESIAN GROWTH CORP III | 0 | 250,000 | +250,000 | 0 | 2,575,000 | +2,575,000 |
| SILVERBOX CORP V | 0 | 243,400 | +243,400 | 0 | 2,448,604 | +2,448,604 |
| ROYAL GOLD INC | 0 | 10,625 | +10,625 | 0 | 2,361,831 | +2,361,831 |
| CANTOR EQUITY PARTNERS II IN | 150,938 | 347,129 | +196,191 | 1,586,358 | 3,908,673 | +2,322,315 |
| LUCID GROUP | 0 | 0 | 0 | 9,329,700 | 11,640,000 | +2,310,300 |
| CONFLUENT INC | 0 | 74,997 | +74,997 | 0 | 2,267,909 | +2,267,909 |
| ROBINHOOD MKTS INC(Put) | 0 | 20,000 | +20,000 | 0 | 2,262,000 | +2,262,000 |
| SPDR SERIES TRUST(Put) | 0 | 20,000 | +20,000 | 0 | 2,072,200 | +2,072,200 |
| MARA HOLDINGS INC(Put) | 0 | 225,000 | +225,000 | 0 | 2,020,500 | +2,020,500 |
| DIGITALBRIDGE GROUP INC | 0 | 131,067 | +131,067 | 0 | 2,010,568 | +2,010,568 |
| VINE HILL CAP INVTS CORP II | 0 | 200,000 | +200,000 | 0 | 2,004,000 | +2,004,000 |
| SILICON VY ACQUISITION CORP | 0 | 200,000 | +200,000 | 0 | 1,988,000 | +1,988,000 |
| ISHARES BITCOIN TRUST ETF(Call) | 0 | 40,000 | +40,000 | 0 | 1,986,000 | +1,986,000 |
| GREENFIRE RES LTD NEW | 447,600 | 845,285 | +397,685 | 2,067,912 | 4,023,557 | +1,955,645 |
| SOLSTICE ADVANCED MATLS INC(Call) | 0 | 40,000 | +40,000 | 0 | 1,943,200 | +1,943,200 |
| BARRICK MNG CORP | 79,845 | 101,145 | +21,300 | 2,616,521 | 4,404,865 | +1,788,344 |
| CANADIAN SOLAR INC(Put) | 0 | 75,000 | +75,000 | 0 | 1,782,750 | +1,782,750 |
| NIKE INC | 0 | 27,000 | +27,000 | 0 | 1,720,170 | +1,720,170 |
| MICROSTRATEGY | 0 | 0 | 0 | 5,212,250 | 6,916,560 | +1,704,310 |
| SYNCHRONY FINANCIAL(Put) | 0 | 20,000 | +20,000 | 0 | 1,668,600 | +1,668,600 |
| VISTRA CORP | 0 | 10,000 | +10,000 | 0 | 1,613,300 | +1,613,300 |
| PLANET LABS PBC | 100,000 | 220,515 | +120,515 | 357,000 | 1,898,634 | +1,541,634 |
| CANTOR EQUITY PARTNERS III I | 163,822 | 312,667 | +148,845 | 1,690,643 | 3,189,203 | +1,498,560 |
| APEX TREAS CORP | 0 | 148,075 | +148,075 | 0 | 1,488,154 | +1,488,154 |
| ENVIRI CORP | 0 | 82,987 | +82,987 | 0 | 1,487,127 | +1,487,127 |
| FASTLY INC | 0 | 0 | 0 | 0 | 1,486,110 | +1,486,110 |