K2 PRINCIPAL FUND, L.P.

CIK

1461790

Location

TORONTO, A6

Portfolio Value

Small $587,150,663

Diversification

Diversified

Filing Date

Global Rank

#2,611 / 8,700 ▲ 62

Top Industry

Shell Companies 33.1%

Period ended 3 months ago

Filed Aug 7, 2026 · 38d

26 quarters · since Mar 2020

Portfolio Concentration

275 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

15.2%

−0.5 pts

Top 5

25.8%

−12.2 pts

Top 10

34.4%

−11.6 pts

HHI

313

Diversified−138

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Financial Services	29.8%	$174,977,913	151
Unclassified	24.1%	$141,372,943	13
Technology	8.5%	$49,864,191	39
Consumer Cyclical	7.6%	$44,787,467	15
Communication Services	7.3%	$43,110,334	13
Basic Materials	5.8%	$34,187,262	14
Healthcare	5.7%	$33,640,159	8
Industrials	3.7%	$21,675,138	9
Real Estate	2.7%	$15,732,618	4
Energy	2.2%	$13,142,418	3
Consumer Defensive	1.7%	$10,049,327	3
Utilities	0.8%	$4,610,893	3

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
TE	T1 Energy Inc.	+544,500	694,500	$6,583,860
ATII	Archimedes Tech SPAC Partners II Co.	+479,150	806,945	$5,672,727
DCH	Dauch Corp	+469,191	2,087,509	$11,314,298
MTA	Metalla Royalty & Streaming Ltd.	+398,000	479,760	$3,650,973
IPXG	Inflection Point Acquisition Corp. VII	+304,951	714,345	$4,056,000
XPOF	Xponential Fitness, Inc.	+247,923	847,923	$5,867,627
WLII	Willow Lane Acquisition Corp. II	+247,608	697,608	$4,494,325
CRAN	Crane Harbor Acquisition Corp. II	+231,649	431,649	$2,654,252
KRAQ	KRAKacquisition Corp	+200,000	300,000	$2,000,000
SUMA	SUMA Acquisition Corp	+198,490	398,490	$1,963,066
IPFX	Inflection Point Acquisition Corp. VI	+175,019	375,019	$2,805,924
OACC	Oaktree Acquisition Corp. III Life Sciences	+171,919	406,269	$3,915,130
TMTS	Spartacus Acquisition Corp. II	+170,165	420,165	$2,002,000
CCII	Cohen Circle Acquisition Corp. II	+152,284	990,933	$5,793,348
AEXA	American Exceptionalism Acquisition Corp. A	+145,600	391,465	$4,627,116
NOK	Nokia Corp	+135,300	170,300	$2,261,584
BRR	ProCap Financial, Inc.	+122,900	1,675,800	$2,580,732
FCRS	FutureCrest Acquisition Corp.	+100,872	200,872	$2,068,981
OIM	OneIM Acquisition Corp.	+100,000	249,659	$777,726
TRGS	TRG Latin America Acquisitions Corp.	+100,000	200,000	$989,000
PZZA	Papa Johns International Inc	+91,100	164,300	$6,041,311
IEAG	Infinite Eagle Acquisition Corp.	+88,400	888,800	$2,918,608
CRAQ	Cal Redwood Acquisition Corp.	+80,951	697,675	$2,504,342
PFSI	PennyMac Financial Services, Inc.	+78,764	159,766	$13,915,618
—		+76,052	130,705	$4,551,148
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
PTON	Peloton Interactive, Inc.	−452,000	45,237	$267,350
PAR	Par Technology Corp	−440,000	10,000	$174,200
LION	Lionsgate Studios Corp.	−434,592	35,013	$536,049
RYAM	Rayonier Advanced Materials Inc.	−409,662	755,738	$5,940,100
BACC	Blue Acquisition Corp/Cayman	−311,115	130,168	$0
TACO	Berto Acquisition Corp.	−294,674	193,127	$0
—		−259,782	313,384	$0
GME	GameStop Corp.	−255,700	200,000	$4,416,000
STGW	Stagwell Inc	−247,451	161,619	$1,200,829
CLF	Cleveland-Cliffs Inc.	−247,053	61,200	$574,668
SVAQ	Silicon Valley Acquisition Corp.	−221,455	81,845	$694,847
CMCO	Columbus Mckinnon Corp	−201,000	30,000	$453,900
AIOT	Powerfleet, Inc.	−200,307	281,722	$1,078,995
DNMX	Dynamix Corp III	−181,907	25,208	$6,932
PCAP	ProCap Acquisition Corp	−179,990	77,017	$0
CLBR	Colombier Acquisition Corp. III	−172,211	200,000	$2,050,000
NHIC	NewHold Investment Corp. III	−161,485	183,767	$0
SPRY	ARS Pharmaceuticals, Inc.	−149,565	423,132	$3,389,287
QURE	uniQure N.V.	−134,999	128,601	$5,923,362
SBXE	SilverBox Corp V	−123,400	120,000	$1,207,200
IACO	Idea Acquisition Corp.	−117,557	32,443	$0
NPAC	New Providence Acquisition Corp. III/Cayman	−109,409	462,400	$0
SZZL	Sizzle Acquisition Corp. II	−109,332	333,426	$0
UBER	Uber Technologies, Inc	−103,500	14,000	$1,010,240
SPY	Spdr S&P 500 ETF Trust	−102,900	26,800	$20,013,436
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
BWA	Borgwarner Inc	106,430	$7,066,952
CIGI	Colliers International Group Inc.	69,557	$6,523,751
EVLV	Evolv Technologies Holdings, Inc.	982,292	$5,697,293
USO	United States Oil Fund, LP	50,000	$5,322,000
NKTR	Nektar Therapeutics	75,465	$5,268,211
KVUE	Kenvue Inc.	229,093	$4,377,967
—		434,766	$4,286,792
LLYVA	Liberty Live Holdings, Inc.	37,843	$3,831,982
IMAX	Imax Corp	93,100	$3,710,966
MTAL	Metals Acquisition Corp. II	332,197	$3,371,799
OTGA	OTG Acquisition Corp. I	321,000	$3,053,400
KEYY	Keystone Acquisition Corp.	443,023	$2,889,206
FVAV	Fortress Value Acquisition Corp. V	250,000	$2,527,500
NHIV	NewHold Investment Corp IV	250,000	$2,500,000
ENTG	Entegris Inc	13,739	$2,471,096
CCXI	Churchill Capital Corp XI	249,704	$2,450,032
GFL	GFL Environmental Inc.	65,300	$2,402,387
CAES	Cantor Equity Partners VII, Inc.	226,200	$2,282,358
MTNE	CH4 Natural Solutions Corp	227,188	$2,237,801
BTCK	Teucrium Commodity Trust	125,000	$2,093,750
GHXI	Gores Holdings XI, Inc.	200,000	$2,030,000
YICC	Yorkville International Capital Corp.	200,000	$2,008,000
IACQ	Irenic Acquisition Corp.	283,333	$1,998,000
GCGR	General Catalyst Global Resilience Merger Corp.	223,000	$1,997,820
FRNM	Freenome, Inc.	182,124	$1,981,509
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
AAXJ	iShares MSCI All Country Asia ex Japan ETF	320,001	$42,510,538
AFK	VanEck Africa Index ETF	260,000	$28,736,775
AGNG	Global X Funds Global X Aging Population ETF	204,000	$15,575,400
—		138,000	$9,327,420
—		100,000	$8,198,000
BKF	iShares MSCI BIC ETF	120,000	$6,814,800
SUN	Sunoco LP	90,000	$5,847,300
SEI	Solaris Energy Infrastructure, Inc.	90,000	$5,085,900
GENI	Genius Sports Ltd	1,021,351	$4,524,584
IT	Gartner Inc	24,000	$3,800,160
GFUZ	General Fusion Group Ltd.	370,960	$3,768,953
AQN	Algonquin Power & Utilities Corp.	600,000	$3,684,000
PUMP	ProPetro Holding Corp.	242,208	$3,490,217
AXP	American Express Co	10,000	$3,024,800
VB	Vanguard Morningstar Small-Cap ETF	5,000	$2,987,750
BMO	Bank Of Montreal /Can/	20,000	$2,706,800
GLNG	Golar Lng Ltd	50,000	$2,705,500
ECVT	Ecovyst Inc.	200,000	$2,572,000
PRCH	Porch Group, Inc.	291,564	$2,090,513
AMTM	Amentum Holdings, Inc.	80,000	$2,086,400
ADP	Automatic Data Processing Inc	10,000	$2,031,800
ELE	Elemental Royalty Corp	106,256	$2,001,863
BBY	Best Buy Co Inc	30,000	$1,926,000
APTV	Aptiv PLC	27,656	$1,920,432
NVT	nVent Electric plc	13,980	$1,653,554
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

275 tracked positions · $587,150,663 total · filing declares 490 positions · $1,364,900,286 · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 275 positions by value · page 1 of 6

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
GLD	Spdr Gold Trust PUT CALL + SHARES	Reduced	242,780	-45,423	$89,435,296	−27.9%	15.23%
SPY	Spdr S&P 500 ETF Trust PUT CALL	Reduced	26,800	-102,900	$20,013,436	−76.3%	3.41%
ABVX	Abivax S.A. CALL + SHARES Healthcare	Added	109,503	+45,762	$14,592,369	+105.6%	2.49%
PFSI	PennyMac Financial Services, Inc. Financial Services	Added	159,766	+78,764	$13,915,618	+96.6%	2.37%
SLV	iShares Silver Trust PUT CALL	Reduced	254,500	-29,900	$13,608,115	−29.8%	2.32%
DCH	Dauch Corp CALL + SHARES Consumer Cyclical	Added	2,087,509	+469,191	$11,314,298	+17.9%	1.93%
FCX	Freeport-Mcmoran Inc PUT Basic Materials	Reduced	176,400	-29,600	$11,093,796	−8.4%	1.89%
	PUT	Added	50,500	+45,500	$10,354,520	+915.8%	1.76%
GOOGL	Alphabet Inc. Communication Services	Reduced	26,773	-6,432	$9,459,704	−0.7%	1.61%
SUNC	SunocoCorp LLC Energy	Added	122,821	+17,731	$8,311,297	+28.3%	1.42%
BWA	Borgwarner Inc CALL + SHARES Consumer Cyclical	NEW	106,430	NEW	$7,066,952	NEW	1.20%
TE	T1 Energy Inc. CALL Industrials	Added	694,500	+544,500	$6,583,860	+899.8%	1.12%
CIGI	Colliers International Group Inc. Real Estate	NEW	69,557	NEW	$6,523,751	NEW	1.11%
PZZA	Papa Johns International Inc CALL + SHARES Consumer Cyclical	Added	164,300	+91,100	$6,041,311	+154.6%	1.03%
RYAM	Rayonier Advanced Materials Inc. CALL + SHARES Basic Materials	Reduced	755,738	-409,662	$5,940,100	−54.0%	1.01%
QURE	uniQure N.V. CALL + SHARES Healthcare	Reduced	128,601	-134,999	$5,923,362	+37.4%	1.01%
XPOF	Xponential Fitness, Inc. PUT CALL + SHARES Consumer Cyclical	Added	847,923	+247,923	$5,867,627	+62.4%	1.00%
CCII	Cohen Circle Acquisition Corp. II Financial Services	Added	990,933	+152,284	$5,793,348	+32.7%	0.99%
APP	AppLovin Corp Communication Services	Added	11,079	+1,011	$5,708,233	+42.5%	0.97%
EVLV	Evolv Technologies Holdings, Inc. CALL + SHARES Industrials	NEW	982,292	NEW	$5,697,293	NEW	0.97%
ATII	Archimedes Tech SPAC Partners II Co. Financial Services	Added	806,945	+479,150	$5,672,727	+519.9%	0.97%
FSLR	First Solar, Inc. Technology	Reduced	23,500	-9,000	$5,545,060	−13.5%	0.94%
BTI	British American Tobacco p.l.c. CALL + SHARES Consumer Defensive	Reduced	88,000	-21,626	$5,434,880	−15.2%	0.93%
RDDT	Reddit, Inc. CALL + SHARES Communication Services	Added	30,913	+13,307	$5,365,878	+126.3%	0.91%
USO	United States Oil Fund, LP CALL	NEW	50,000	NEW	$5,322,000	NEW	0.91%
NKTR	Nektar Therapeutics CALL + SHARES Healthcare	NEW	75,465	NEW	$5,268,211	NEW	0.90%
QQQ	Invesco Qqq Trust, Series 1 CALL	Reduced	7,000	-14,000	$5,154,800	−57.5%	0.88%
MSFT	Microsoft Corp CALL + SHARES Technology	Added	13,638	+7,638	$5,087,246	+129.0%	0.87%
NSC	Norfolk Southern Corp Industrials	Added	14,991	+900	$4,716,018	+16.6%	0.80%
AEXA	American Exceptionalism Acquisition Corp. A CALL + SHARES Financial Services	Added	391,465	+145,600	$4,627,116	+73.8%	0.79%
		Added	130,705	+76,052	$4,551,148	+203.8%	0.78%
WLII	Willow Lane Acquisition Corp. II Financial Services	Added	697,608	+247,608	$4,494,325	−1.1%	0.77%
GME	GameStop Corp. PUT Consumer Cyclical	Reduced	200,000	-255,700	$4,416,000	−57.9%	0.75%
KVUE	Kenvue Inc. Consumer Defensive	NEW	229,093	NEW	$4,377,967	NEW	0.75%
		NEW	434,766	NEW	$4,286,792	NEW	0.73%
IBIT	iShares Bitcoin Trust ETF	Reduced	122,542	-11,280	$4,079,423	−20.7%	0.69%
GFR	Greenfire Resources Ltd. Energy	Added	720,740	+64,300	$4,072,181	−1.8%	0.69%
IPXG	Inflection Point Acquisition Corp. VII Financial Services	Added	714,345	+304,951	$4,056,000	+22.3%	0.69%
OACC	Oaktree Acquisition Corp. III Life Sciences Financial Services	Added	406,269	+171,919	$3,915,130	+89.5%	0.67%
LLYVA	Liberty Live Holdings, Inc. Communication Services	NEW	37,843	NEW	$3,831,982	NEW	0.65%
IMAX	Imax Corp Communication Services	NEW	93,100	NEW	$3,710,966	NEW	0.63%
MTA	Metalla Royalty & Streaming Ltd. Basic Materials	Added	479,760	+398,000	$3,650,973	+573.5%	0.62%
SPRY	ARS Pharmaceuticals, Inc. CALL + SHARES Healthcare	Reduced	423,132	-149,565	$3,389,287	−26.3%	0.58%
MTAL	Metals Acquisition Corp. II Financial Services	NEW	332,197	NEW	$3,371,799	NEW	0.57%
CEPF	Cantor Equity Partners IV, Inc. Financial Services	Added	318,199	+59,858	$3,309,269	+25.7%	0.56%
PMTR	Perimeter Acquisition Corp. I Financial Services	Held	414,055	0	$3,097,209	+1.6%	0.53%
ARCI	Archimedes Tech SPAC Partners III Co. Financial Services	Added	617,170	+35,857	$3,086,413	+4.6%	0.53%
OTGA	OTG Acquisition Corp. I Financial Services	NEW	321,000	NEW	$3,053,400	NEW	0.52%
DBRG	DigitalBridge Group, Inc. Financial Services	Held	190,000	0	$2,998,200	+2.3%	0.51%
IEAG	Infinite Eagle Acquisition Corp. Financial Services	Added	888,800	+88,400	$2,918,608	−2.7%	0.50%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.