K2 Principal Fund, L.P. Top Holdings and 13F Report (2025) About K2 Principal Fund, L.P.Investment ActivityK2 Principal Fund, L.P. has $900.62 million in total holdings as of December 31, 2024.K2 Principal Fund, L.P. owns shares of 287 different stocks, but just 79 companies or ETFs make up 80% of its holdings.Approximately 47.11% of the portfolio was purchased this quarter.About 25.93% of the portfolio was sold this quarter.This quarter, K2 Principal Fund, L.P. has purchased 248 new stocks and bought additional shares in 53 stocks.K2 Principal Fund, L.P. sold shares of 37 stocks and completely divested from 95 stocks this quarter.Largest Holdings SPDR Gold Shares $44,344,900Vanguard S&P 500 ETF $34,483,840Amazon.com $18,279,794DROPBOX INC $15,716,270Solaris Oilfield Infrastructure $15,657,328 Largest New Holdings this Quarter Solaris Oilfield Infrastructure $15,657,328 HoldingSPHERE ENTERTAINMENT CO $11,642,450 HoldingMARA HOLDINGS $10,871,125 HoldingWINNEBAGO INDU $9,852,821 HoldingMICROSTRATEGY $9,711,600 Holding Largest Purchases this Quarter Vanguard S&P 500 ETF 57,500 shares (about $30.98M)SPDR Gold Shares 66,845 shares (about $16.19M)Solaris Oilfield Infrastructure 544,035 shares (about $15.66M)Amazon.com 61,202 shares (about $13.43M)SPHERE ENTERTAINMENT CO 8,500 shares (about $11.64M) Largest Sales this Quarter MARA HOLDINGS INC 11,250 shares (about $9.92M)iTeos Therapeutics 754,151 shares (about $5.79M)Cleveland-Cliffs 280,000 shares (about $2.63M)EQV VENTURES ACQUISITION COR 261,966 shares (about $2.61M)Inspire Medical Systems 12,000 shares (about $2.22M) Sector Allocation Over TimeMap of 500 Largest Holdings ofK2 Principal Fund, L.P. Selling Neutral Buying Latest 13F Holdings and Changes Since Previous Quarterly FilingIssuer NameHoldings ValueApproximate Purchase/SaleChange in SharesShares Held% of PortfolioSectorGLDSPDR Gold Shares$44,344,900$16,185,180 ▲57.5%183,1454.9%FinanceVOOVanguard S&P 500 ETF$34,483,840$30,981,575 ▲884.6%64,0003.8%ETFAMZNAmazon.com$18,279,794$13,427,107 ▲276.7%83,3212.0%Retail/WholesaleDROPBOX INC$15,716,2700.0%15,8591.7%NOTE 3/0SOISolaris Oilfield Infrastructure$15,657,328$15,657,328 ▲New Holding544,0351.7%Oils/EnergyOPENDOOR TECHNOL$15,304,928$1,756,260 ▼-10.3%17,4291.7%0.25 8/15/2026ATLANTICA JERSEY$15,278,4270.0%15,3001.7%4.00 7/15/2025PELOTON INTERACTIVE INC$14,652,030$373,800 ▼-2.5%15,6791.6%NOTE 2/1AIR CANADA$14,632,334$1,987,894 ▲15.7%13,0801.6%4.00 7/1/2025NUTANIX INC$14,559,6000.0%12,0001.6%NOTE 0.25010/0ISHARES BITCOIN TRUST ETF$14,323,500$1,591,447 ▲12.5%270,0001.6%SHS BEN INTVIRGIN GALACTIC$12,489,8400.0%28,5001.4%2.50 01/02/2027KAR AUCTION$12,453,0350.0%12,4871.4%5.125 6/1/2025IAUiShares Gold Trust$12,377,5000.0%250,0001.4%FinanceENVESTNET INC$11,971,0800.0%12,0001.3%0.75 8/15/2025SPHERE ENTERTAINMENT CO$11,642,450$11,642,450 ▲New Holding8,5001.3%NOTE 3.50012/0VERMILION ENERGY TRUST$11,540,0430.0%11,5591.3%5.625 15/03/2025 144AMARA HOLDINGS$10,871,125$10,871,125 ▲New Holding12,5001.2%0 01/03/2030TRIPADVISOR INC$10,742,1500.0%11,5001.2%NOTE 0.250 4/0GOOGAlphabet$9,912,973$5,151,973 ▲108.2%52,0531.1%Computer and TechnologyWINNEBAGO INDU$9,852,821$9,852,821 ▲New Holding10,9251.1%3.25 15/01/2030MICROSTRATEGY$9,711,600$9,711,600 ▲New Holding12,0001.1%0 01/12/2029AKAMAI TECHNOLOGIES INC$9,551,300$2,513,500 ▲35.7%9,5001.1%NOTE 0.375 9/0JETBLUE AIRWAYS CORP$9,298,0000.0%10,0001.0%NOTE 0.500 4/0RAPID7 INC$9,275,0000.0%10,0001.0%NOTE 0.250 3/1WILLOW LANE ACQUISITION CORP$9,236,153$9,236,153 ▲New Holding933,8881.0%ORD SHS CL AREDDIT INC$9,152,640$9,152,640 ▲New Holding56,0001.0%CL AUPSTART HLDGS INC$9,116,0000.0%10,0001.0%NOTE 0.250 8/1NICE LTD$8,954,6800.0%9,3211.0%NOTE 9/1IIP OP PRTNRSHP$8,751,3240.0%9,0821.0%5.50 25/05/2026BLACKBERRY LTD$8,684,9000.0%7,0001.0%3.00 15/02/2029FASTLY INC$8,647,820$8,647,820 ▲New Holding9,2491.0%NOTE 3/1FIRST MAJESTIC SILVER CORP$8,587,0500.0%9,5001.0%NOTE 0.375 1/1DYNAMIX CORP$8,516,438$8,516,438 ▲New Holding869,9120.9%SHS CL ALUMENTUM HLDGS INC$8,368,8000.0%6,0000.9%NOTE 1.50012/1WISDOMTREE INC$8,165,0600.0%7,3440.9%NOTE 3.250 6/1STRATHCONA RESOU$8,010,080$8,010,080 ▲New Holding8,0000.9%6.875 01/08/2026WESTERN DIGITAL CORP$7,966,200$7,966,200 ▲New Holding6,0000.9%NOTE 3.00011/1GFL ENVIRON INC$7,929,280$7,929,280 ▲New Holding8,0000.9%3.75 01/08/2025PARPAR Technology$7,735,067$1,725,113 ▲28.7%106,4410.9%Business ServicesLIFE TIME INC$7,714,064$7,714,064 ▲New Holding7,7180.9%5.75 15/01/2026RINGCENTRAL INC$7,707,7500.0%7,7990.9%NOTE 3/0QQQInvesco QQQ$7,668,450$2,556,150 ▲50.0%15,0000.9%FinanceSPIRIT AIRLINES$7,563,2700.0%19,3930.8%1.00 5/15/2026MOUNTAIN LAKE ACQUISITION CO$7,512,039$7,512,039 ▲New Holding748,9570.8%UNIT 11/15/2028VFCVF$7,296,400$3,433,600 ▲88.9%340,0000.8%Consumer DiscretionaryACIAlbertsons Companies$7,178,439$1,865,800 ▲35.1%365,5010.8%Consumer StaplesLUCID GROUP$7,097,940$6,309,280 ▲800.0%9,0000.8%1.25 12/15/2026TALEN ENERGY CORP$7,049,234$1,148,379 ▲19.5%34,9890.8%COMSNAP INC$6,979,3000.0%7,1000.8%NOTE 0.250 5/0CIENCiena$6,888,438$4,719,337 ▲217.6%81,2220.8%Computer and TechnologySTLDSteel Dynamics$6,844,200$5,315,662 ▲347.8%60,0000.8%Basic MaterialsCENTURY ALUM CO$6,836,750$6,836,750 ▲New Holding5,7500.8%NOTE 2.750 5/0TRANSLATIONAL DEV ACQUISITIO$6,763,470$6,763,470 ▲New Holding674,9970.8%UNIT 99/99/9999WISDOMTREE INC$6,514,2000.0%6,0000.7%3.25 15/08/2029TERAWULF INC$6,293,430$6,293,430 ▲New Holding6,5000.7%2.75 01/02/2030SABRE GLBL INC$6,231,4000.0%6,3090.7%NOTE 4.000 4/1MTUMiShares MSCI USA Momentum Factor ETF$6,207,600$6,207,600 ▲New Holding30,0000.7%ETFAMERICAN AIRLINES GROUP INC$5,874,500$5,874,500 ▲New Holding5,0000.7%NOTE 6.500 7/0BLACKLINE INC$5,641,2000.0%6,0000.6%NOTE 3/1COHEN CIRCLE ACQUISITION COR$5,618,206$5,618,206 ▲New Holding562,3830.6%SHS CL AMUVICO LLC$5,463,004$167,343 ▲3.2%5,1580.6%6.00 30/04/2030SRGSeritage Growth Properties$5,461,472$4,120,000 ▲307.1%1,325,6000.6%FinanceMARATHON DIGITAL$5,336,650$2,134,660 ▼-28.6%5,0000.6%2.125 01/09/2031HESHess$5,238,200$779,306 ▲17.5%39,3820.6%Oils/EnergyBOLD EAGLE ACQUISITION CORP$5,142,226$5,142,226 ▲New Holding521,5240.6%CL ATECHTARGET INC$4,983,5000.0%5,0000.6%NOTE 12/1RTXRTX$4,628,800$4,628,800 ▲New Holding40,0000.5%AerospaceBITDEER TECHNO$4,509,420$4,509,420 ▲New Holding3,0000.5%5.25 01/12/2029GOPRO INC$4,479,5000.0%5,0000.5%NOTE 1.25011/1ADVANCED ENERGY INDS$4,366,000$4,366,000 ▲New Holding4,0000.5%NOTE 2.500 9/1LIVENT CORP$4,365,900$4,365,900 ▲New Holding3,0000.5%NOTE 4.125 7/1COINBASE GLOBAL$4,294,040$4,294,040 ▲New Holding4,0000.5%0.25 01/04/2030LOWLowe's Companies$4,195,600$4,195,600 ▲New Holding17,0000.5%Retail/WholesaleNET LEASE OFFICE PROPERTIES$4,190,723$349,927 ▼-7.7%134,2750.5%COMHCPHashiCorp$4,109,100$73,996 ▲1.8%120,1140.5%Computer and TechnologyINFINERA CORP$4,086,600$1,167,600 ▲40.0%3,5000.5%NOTE 3.750 8/0ROMAN DBDR ACQUISITION CORP$4,059,684$4,059,684 ▲New Holding407,1900.5%UNIT 99/99/9999LITHIUM AMERICAS ARGENTINA C$3,932,3200.0%5,0950.4%NOTE 1.750 1/1LIB TRIP ADV HOL$3,930,800$1,719,725 ▲77.8%4,0000.4%0.50 30/06/2051UPWORK INC$3,697,6000.0%4,0000.4%NOTE 0.250 8/1CORE SCIENTIFIC INC NEW$3,415,369$306,261 ▼-8.2%415,4950.4%W EXP 01/23/202TSMTaiwan Semiconductor Manufacturing$3,159,840$1,184,940 ▲60.0%16,0000.4%Computer and TechnologySPHRSphere Entertainment$3,024,000$2,419,200 ▲400.0%75,0000.3%Consumer DiscretionaryXUnited States Steel$2,974,125$1,189,650 ▲66.7%87,5000.3%Basic MaterialsPDSPrecision Drilling$2,958,597$2,958,597 ▲New Holding48,4460.3%Oils/EnergyDISWalt Disney$2,923,383$752,058 ▲34.6%26,2540.3%Consumer DiscretionaryLUMENTUM HLDGS INC$2,908,2000.0%3,0000.3%NOTE 0.500 6/1FCXFreeport-McMoRan$2,856,000$1,047,200 ▼-26.8%75,0000.3%Basic MaterialsCHRWC.H. Robinson Worldwide$2,841,300$2,841,300 ▲New Holding27,5000.3%TransportationI-80 GOLD CORP$2,800,000$2,800,000 ▲New Holding4,0000.3%8.00 22-FEB-27 PIKSSR MINING IN$2,784,900$2,784,900 ▲New Holding2,8880.3%NOTE 2.500 4/0IRIS ENERGY LTD$2,693,940$2,693,940 ▲New Holding3,0000.3%3.25 15/06/2030FACT II ACQUISITION CORP$2,544,100$2,544,100 ▲New Holding257,5000.3%ORD SHS CL ABBarnes Group$2,520,376$2,520,376 ▲New Holding53,3300.3%Industrial ProductsFYBRFrontier Communications Parent$2,466,268$2,466,268 ▲New Holding71,0740.3%Computer and TechnologyLMTLockheed Martin$2,429,700$2,429,700 ▲New Holding5,0000.3%AerospaceKDKyndryl$2,422,000$2,422,000 ▲New Holding70,0000.3%Business ServicesIONQ INC$2,419,681$2,419,681 ▲New Holding79,4380.3%W EXP 10/01/202NUVASIVE INC$2,367,2500.0%2,3960.3%NOTE 0.375 3/1Showing largest 100 holdings. View all holdings. More Institutional Buying and Selling Information SEC Filings and Trading Data SEC Filings 13F Filings Top 13F Buys Top 13F Sells Get 30 Days of MarketBeat All Access for Free Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools. Start Your 30-Day Trial MarketBeat All Access Features Best-in-Class Portfolio Monitoring Get personalized stock ideas. Compare portfolio to indices. Check stock news, ratings, SEC filings, and more. Stock Ideas and Recommendations See daily stock ideas from top analysts. Receive short-term trading ideas from MarketBeat. Identify trending stocks on social media. Advanced Stock Screeners and Research Tools Use our seven stock screeners to find suitable stocks. Stay informed with MarketBeat's real-time news. Export data to Excel for personal analysis. Sign in to your free account to enjoy these benefits In-depth profiles and analysis for 20,000 public companies. 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