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CIK: 0001461790
Total reported value
$1.4B
$1.4B
385 檔
12.4%
During the Q4 2025 filing period, K2 Principal Fund, L.p. (CIK: 0001461790) submitted its Form 13F report to the U.S. SEC, disclosing a tracked public equity portfolio valued at $1.4B across 385 reported positions.
K2 Principal Fund, L.p. executed strategic sector rebalancing during Q4 2025, establishing 16 new positions while fully exiting 21 holdings and trimming 6 positions.
Showing top 200 holdings (of 385 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | GLD | Spdr Gold Shares | ETF-Commodities | 3.42% | -2.11% | -64.22% | |
| 2 | LITE 0.5 06-15-28Bond | Lumentum Holdings Inc | Bond | 3.20% | — | +366.67% | |
| 3 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 3.20% | -4.42% | — | |
| 4 | SPHR 3.5 12-01-28Bond | Sphere Entertainment Co | Bond | 1.89% | — | — | |
| 5 | AAUC 8.75 09-07-28Bond | Allied Gold CORP | Bond | 1.88% | +1.92% | NEW | |
| 6 | PAR | Par Technology Corp/del | Stock-Other | 1.76% | -0.41% | +394.20% | |
| 7 | GDX | Vaneck Gold Miners ETF | ETF-Commodities | 1.62% | -0.56% | EXIT | |
| 8 | FCX | Freeport-mcmoran Inc | Stock-Materials | 1.58% | -0.04% | +87.28% | |
| 9 | APLD 2.75 06-01-30Bond | Applied Digital CORP | Bond | 1.52% | — | — | |
| 10 | SLV | Ishares Silver Trust | ETF-Commodities | 1.43% | -0.35% | -63.14% | |
| 11 | AGCN 0.125 01-15-31Bond | First Majestic Silver | Bond | 1.30% | -0.36% | EXIT | |
| 12 | PTON 0 02-15-26Bond | Peloton Interactive Inc | Bond | 1.25% | — | — | |
| 13 | ASTS 2.375 10-15-32Bond | Ast Spacemobile Inc | Bond | 1.22% | +0.14% | +283.33% | |
| 14 | BTI | British American Tob-sp Adr | Stock-Consumer Staples | 1.21% | -0.05% | -20.76% | |
| 15 | CRNC 1.5 07-01-28Bond | Cerence Inc | Bond | 1.21% | -0.03% | +179.17% | |
| 16 | VAC 0 01-15-26Bond | Marriott Vacation Worldw | Bond | 1.21% | — | — | |
| 17 | TRIP 0.25 04-01-26Bond | Tripadvisor Inc | Bond | 1.11% | -0.98% | EXIT | |
| 18 | JBLU 0.5 04-01-26Bond | Jetblue Airways CORP | Bond | 1.10% | -0.96% | EXIT | |
| 19 | SPCE 2.5 02-01-27Bond | Virgin Galactic Holdings | Bond | 1.09% | +0.88% | NEW | |
| 20 | GME | Gamestop Corp-class A | Stock-Consumer Disc | 1.05% | -0.41% | — | |
| 21 | SEI 0.25 10-01-31Bond | Solaris Energy Infrastru | Bond | 1.05% | -0.10% | — | |
| 22 | MSTR 0 12-01-29Bond | Strategy Inc | Bond | 1.00% | -0.88% | EXIT | |
| 23 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 0.99% | -0.47% | -42.86% | |
| 24 | PAR 1.5 10-15-27Bond | Par Technology CORP | Bond | 0.99% | +0.01% | +212.50% | |
| 25 | CENX 2.75 05-01-28Bond | Century Aluminum Company | Bond | 0.98% | — | — | |
| 26 | ✓ | Gamestop CORP | Stock-Other | 0.96% | -1.01% | EXIT | |
| 27 | GDXJ | Vaneck Junior Gold Miners | ETF-Commodities | 0.95% | +0.39% | +38.67% | |
| 28 | LCID 1.25 12-15-26Bond | Lucid Group Inc | Bond | 0.94% | +0.06% | +25.00% | |
| 29 | NTNX 0.25 10-01-27Bond | Nutanix Inc | Bond | 0.91% | — | — | |
| 30 | HOTUCN 6 12-31-26Bond | Amer Hotel Inc Prop Reit | Bond | 0.90% | — | +4.03% | |
| 31 | ✓ | Applied Optoele | Stock-Other | 0.84% | — | — | |
| 32 | UBER 0.875 12-01-28 2028Bond | Uber Technologies Inc | Bond | 0.84% | +0.02% | — | |
| 33 | MARA 0 03-01-30Bond | Mara Holdings Inc | Bond | 0.80% | +0.15% | — | |
| 34 | XIFR 2.5 06-15-26Bond | Xplr Infrastructure LP | Bond | 0.80% | -0.69% | EXIT | |
| 35 | SNAP 0.75 08-01-26Bond | Snap Inc | Bond | 0.79% | +0.04% | — | |
| 36 | UPST 0.25 08-15-26Bond | Upstart Holdings Inc | Bond | 0.77% | +0.05% | — | |
| 37 | VZLACN 5 01-15-31Bond | Vizsla Silver CORP | Bond | 0.76% | +0.02% | — | |
| 38 | COIN 0.25 04-01-30Bond | Coinbase Global Inc | Bond | 0.74% | — | +28.57% | |
| 39 | BBCN 3 02-15-29Bond | Blackberry LTD | Bond | 0.71% | -0.56% | EXIT | |
| 40 | AMC 6 04-30-30 144ABond | Muvico LLC | Bond | 0.69% | +0.16% | +4.00% | |
| 41 | WT 3.25 06-15-26Bond | Wisdomtree Investments | Bond | 0.68% | — | — | |
| 42 | SOLS | Solstice Adv Materials Inc | Stock-Materials | 0.66% | -0.35% | — | |
| 43 | REAL 1 03-01-28Bond | THE Realreal Inc | Bond | 0.65% | +0.03% | — | |
| 44 | SEDG 2.25 07-01-29Bond | Solar Edge Technologies | Bond | 0.63% | — | — | |
| 45 | DBX 0 03-01-26Bond | Dropbox Inc | Bond | 0.63% | — | -43.29% | |
| 46 | IBIT | Ishares Bitcoin Trust ETF | ETF-Crypto | 0.61% | -0.06% | +100.16% | |
| 47 | MARA 0 06-01-31Bond | Mara Holdings Inc | Bond | 0.61% | +0.06% | — | |
| 48 | OPEN 0.25 08-15-26Bond | Opendoor Technologies In | Bond | 0.59% | +0.07% | — | |
| 49 | LYV 3.125 01-15-29Bond | Live Nation Entertainmen | Bond | 0.59% | -0.53% | EXIT | |
| 50 | PEB 1.75 12-15-26Bond | Pebblebrook Hotel Trust | Bond | 0.58% | +0.03% | — |
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | LITE 0.5 06-15-28Bond | Lumentum Holdings Inc | +2.9% | +366.67% | Add |
| 2 | PAR | Par Technology Corp/del | +1.4% | +394.20% | Add |
| 3 | ASTS 2.375 10-15-32Bond | Ast Spacemobile Inc | +1% | +283.33% | Add |
| 4 | FCX | Freeport-mcmoran Inc | +0.9% | +87.28% | Add |
| 5 | CRNC 1.5 07-01-28Bond | Cerence Inc | +0.8% | +179.17% | Add |
| 6 | PAR 1.5 10-15-27Bond | Par Technology CORP | +0.7% | +212.50% | Add |
| 7 | SPHR 3.5 12-01-28Bond | Sphere Entertainment Co | +0.6% | — | Unchanged |
| 8 | FSLY 0 03-15-26Bond | Fastly Inc | -0.6% | -83.79% | Trim |
| 9 | QQQ | Invesco Qqq Trust Series 1 | -0.7% | -42.86% | Trim |
| 10 | HHH | Howard Hughes Holdings Inc | -0.9% | -97.69% | Trim |
| 11 | SLV | Ishares Silver Trust | -1.1% | -63.14% | Trim |
| 12 | VOO | Vanguard S&p 500 ETF | -2.4% | -88.55% | Trim |
| 13 | GLD | Spdr Gold Shares | -5.2% | -64.22% | Trim |
| 14 | SPY | Ss Spdr S&p 500 ETF Trust-us | — | NEW | New buy |
| 15 | WDC 3 11-15-28Bond | Western Digital CORP | — | EXIT | Sold out |
| 16 | ✓ | — | EXIT | Sold out | |
| 17 | GDX | Vaneck Gold Miners ETF | — | NEW | New buy |
| 18 | APLD 2.75 06-01-30Bond | Applied Digital CORP | — | NEW | New buy |
| 19 | ✓ | — | EXIT | Sold out | |
| 20 | LITE 1.5 12-15-29Bond | Lumentum Holdings Inc | — | EXIT | Sold out |
| 21 | AGCN 0.125 01-15-31Bond | First Majestic Silver | — | NEW | New buy |
| 22 | AGCN 0.375 01-15-27Bond | First Majestic Silver | — | EXIT | Sold out |
| 23 | CORZ | Core Scientific Inc | — | EXIT | Sold out |
| 24 | ✓ | — | EXIT | Sold out | |
| 25 | GME | Gamestop Corp-class A | — | NEW | New buy |
| 26 | SEI 0.25 10-01-31Bond | Solaris Energy Infrastru | — | NEW | New buy |
| 27 | ✓ | MARA Holdings Inc | — | EXIT | Sold out |
| 28 | MSTR 0 12-01-29Bond | Strategy Inc | — | NEW | New buy |
| 29 | CRWV | Coreweave Inc-cl A | — | EXIT | Sold out |
| 30 | W | Wayfair Inc- Class A | — | EXIT | Sold out |
| 31 | ETSY 0.125 10-01-26Bond | Etsy Inc | — | EXIT | Sold out |
| 32 | UBER 0.875 12-01-28 2028Bond | Uber Technologies Inc | — | NEW | New buy |
| 33 | STRCNA 6.875 08-01-26 144ABond | Strathcona Resources | — | EXIT | Sold out |
| 34 | MARA 0 03-01-30Bond | Mara Holdings Inc | — | NEW | New buy |
| 35 | GFR 12 10-01-28 144ABond | Greenfire Resources LTD | — | EXIT | Sold out |
| 36 | VZLACN 5 01-15-31Bond | Vizsla Silver CORP | — | NEW | New buy |
| 37 | RPD 0.25 03-15-27Bond | Rapid7 Inc | — | EXIT | Sold out |
| 38 | ✓ | — | EXIT | Sold out | |
| 39 | SEI 4.75 05-01-30Bond | Solaris Energy Infrastru | — | EXIT | Sold out |
| 40 | BTOCN 2.75 02-01-30Bond | B2gold CORP | — | EXIT | Sold out |
| 41 | SOLS | Solstice Adv Materials Inc | — | NEW | New buy |
| 42 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | — | EXIT | Sold out |
| 43 | ✓ | — | EXIT | Sold out | |
| 44 | REAL 1 03-01-28Bond | THE Realreal Inc | — | NEW | New buy |
| 45 | SEDG 2.25 07-01-29Bond | Solar Edge Technologies | — | NEW | New buy |
| 46 | MARA 0 06-01-31Bond | Mara Holdings Inc | — | NEW | New buy |
| 47 | SPHR | Sphere Entertainment Co | — | EXIT | Sold out |
| 48 | VRNT 0.25 04-15-26Bond | Verint Systems Inc | — | EXIT | Sold out |
| 49 | DBX 0 03-01-28Bond | Dropbox Inc | — | NEW | New buy |
| 50 | CORZ 0 06-15-31Bond | Core Scientific Inc | — | NEW | New buy |
According to official SEC Form 13F filings, K2 Principal Fund, L.p. reported a total U.S. public equity portfolio value of $1.4B across 385 disclosed positions in Q4 2025.
Expert Analysis & Guides for Tracking Wall Street Smart Money Movements
Learn how SEC Form 13F filings work, the $100M threshold, 45-day reporting lag, and how to track top hedge fund holdings.
In terms of portfolio concentration, the top 5 core holdings (including GLD, LITE 0.5 06-15-28, SPY) accounted for 12.4% of total reported equity market value during Q4 2025.
Top New Position Initiated
SPY
市值: $39.7M
Top Position Liquidated / Trimmed
WDC 3 11-15-28
前期市值: $24.0M
During Q4 2025, K2 Principal Fund, L.p.'s top holdings by market value included GLD (3.4%)、LITE 0.5 06-15-28 (3.2%)、SPY (3.2%). The largest single position, GLD, represented 3.4% of total portfolio value.
In Q4 2025, K2 Principal Fund, L.p. made 49 total portfolio adjustments, initiating 16 new buys, adding to 6 positions, trimming 6 holdings, and fully liquidating 21 stocks.
All holding records on this page are fetched directly from the U.S. Securities and Exchange Commission (SEC) EDGAR system (Form 13F-HR). AlphaSMO parses CUSIP identifiers and formats data into Schema.org-compliant datasets.
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Understand Rule 144 restricted stock sale notices to spot planned insider liquidations before market sell pressure arrives.
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