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Asset Manager ← All Institutions

K2 PRINCIPAL FUND, L.P.

Q2 2025 · Filed 2025-08-14
Market Value
$171M
+26.0%
Holdings
146
+11
New Purchases
48
Added To
14
Closed
36
Reduced
30
Top 10 Concentration
34.3%
Turnover
57.5%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MAG 3.97% 0.00% +3.97% $7M
CORZ 3.45% 0.00% +3.45% $6M
JNPR 2.33% 0.00% +2.33% $4M
GTEN 2.33% 0.00% +2.33% $4M
TACO 1.85% 0.00% +1.85% $3M
CCCXU 1.80% 0.00% +1.80% $3M
TIXT 1.77% 0.00% +1.77% $3M
FLR 1.74% 0.00% +1.74% $3M
SBXD-UN 1.59% 0.00% +1.59% $3M
PCAPU 1.57% 0.00% +1.57% $3M
GOOG 1.55% 0.00% +1.55% $3M
BACCU 1.46% 0.00% +1.46% $3M
TACH 1.44% 0.00% +1.44% $2M
RDAGU 1.43% 0.00% +1.43% $2M
GENI 1.40% 0.00% +1.40% $2M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GLD 1.73% 13.82% -12.08% $3M
SEI 0.00% 4.33% -4.33% $0
SVCC 0.00% 2.50% -2.50% $0
ATIIU 0.00% 2.37% -2.37% $0
NHICU 0.00% 2.30% -2.30% $0
SLV 0.37% 2.34% -1.97% $637K
LOKVU 0.00% 1.85% -1.85% $0
WDC 0.00% 1.76% -1.76% $0
TLN 2.39% 4.14% -1.75% $4M
HES 2.65% 4.32% -1.67% $5M
IBIT 6.21% 7.74% -1.53% $11M
FNV 0.00% 1.39% -1.39% $0
SPRY 3.23% 4.49% -1.26% $6M
CEPO 1.51% 2.72% -1.21% $3M
PPTA 0.00% 1.12% -1.12% $0

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 6 $9M 5.0%
Large Cap 25 $48M 27.8%
Mid Cap 18 $29M 17.2%
Small Cap 46 $58M 33.6%
Micro Cap 51 $28M 16.3%

Portfolio Analytics

Avg Market Cap
$120.2B
Median Market Cap
$480M
Avg P/E
39.9
Median P/E
30.8
Avg Dividend Yield
0.03%
Avg Beta
1.10
# Stocks
128
# ETFs / Funds
18

Top Holdings (146 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 IBIT 6.21% 174,000 $11M $61.21 $118K -51,000 -22.7%
2 FSLR 4.66% 48,291 $8M $165.54 $2M +4,187 +9.5%
3 MAG 3.97% 321,870 $7M $21.13 — +321,870 — NEW
4 CORZ 3.45% 346,591 $6M $17.07 — +346,591 — NEW
5 SPRY 3.23% 317,126 $6M $17.45 -$572K -168,229 -34.7%
6 NLOP 2.75% 144,800 $5M $32.55 $320K +4,800 +3.4%
7 HES 2.65% 32,782 $5M $138.54 -$1M -4,000 -10.9%
8 CCIR 2.63% 410,086 $4M $10.97 $762K +76,780 +23.0%
9 TLN 2.39% 14,100 $4M $290.77 -$2M -14,107 -50.0%
10 JNPR 2.33% 100,000 $4M $39.93 — +100,000 — NEW
11 GTEN 2.33% 389,326 $4M $10.25 — +389,326 — NEW
12 TACO 1.85% 304,536 $3M $10.42 — +304,536 — NEW
13 SRG 1.83% 1,015,786 $3M $3.08 -$73K +24,590 +2.5%
14 PTON 1.81% 447,734 $3M $6.94 $2M +262,925 +142.3%
15 CCCXU 1.80% 300,000 $3M $10.30 — +300,000 — NEW
16 UBER 1.80% 33,048 $3M $93.30 $575K -1,382 -4.0%
17 TIXT 1.77% 835,087 $3M $3.63 — +835,087 — NEW
18 FLR 1.74% 58,200 $3M $51.27 — +58,200 — NEW
19 GLD 1.73% 9,746 $3M $304.83 -$16M -55,500 -85.1%
20 SBXD-UN 1.59% 249,209 $3M $10.96 — +249,209 — NEW
21 PCAPU 1.57% 251,303 $3M $10.72 — +251,303 — NEW
22 GOOG 1.55% 15,000 $3M $177.39 — +15,000 — NEW
23 CEPO 1.51% 217,896 $3M $11.90 -$1M -143,621 -39.7%
24 FYBR 1.51% 71,074 $3M $36.40 $38K — —
25 BACCU 1.46% 249,900 $3M $10.04 — +249,900 — NEW
26 TACH 1.44% 245,600 $2M $10.04 — +245,600 — NEW
27 RDAGU 1.43% 238,720 $2M $10.26 — +238,720 — NEW
28 GENI 1.40% 230,364 $2M $10.40 — +230,364 — NEW
29 WENNU 1.40% 226,317 $2M $10.57 — +226,317 — NEW
30 DAAQU 1.39% 226,951 $2M $10.48 — +226,951 — NEW
31 AMZN 1.36% 10,608 $2M $219.39 -$407K -3,764 -26.2%
32 CEPT 1.34% 208,586 $2M $11.03 — +208,586 — NEW
33 IPCXU 1.32% 223,166 $2M $10.16 — +223,166 — NEW
34 PDS 1.31% 47,460 $2M $47.24 -$623K -13,986 -22.8%
35 APP 1.26% 6,167 $2M $350.08 — +6,167 — NEW
36 CAEP 1.23% 200,000 $2M $10.55 — +200,000 — NEW
37 WIX 1.11% 12,004 $2M $158.46 — +12,004 — NEW
38 BTI 1.06% 38,200 $2M $47.33 — +38,200 — NEW
39 AXINU 1.04% 177,159 $2M $10.09 — +177,159 — NEW
40 RTACU 1.00% 145,320 $2M $11.80 — +145,320 — NEW
41 XPOF 0.97% 221,043 $2M $7.49 $906K +131,043 +145.6%
42 SAND 0.93% 170,000 $2M $9.40 — +170,000 — NEW
43 PKST 0.90% 116,697 $2M $13.21 $691K +49,188 +72.9%
44 DKS 0.87% 7,500 $1M $197.81 — +7,500 — NEW
45 FL 0.86% 60,000 $1M $24.50 — +60,000 — NEW
46 FLYY 0.84% 287,976 $1M $4.99 — +287,976 — NEW
47 AVGO 0.78% 4,854 $1M $275.65 $656K +782 +19.2%
48 AGS 0.73% 99,918 $1M $12.49 $38K — —
49 MU 0.72% 10,000 $1M $123.25 — +10,000 — NEW
50 CCIX 0.70% 114,350 $1M $10.52 $414K +41,250 +56.4%
51 IMO 0.70% 15,000 $1M $79.48 — +15,000 — NEW
52 VFC 0.69% 100,000 $1M $11.75 — +100,000 — NEW
53 AACB 0.66% 112,006 $1M $10.12 — +112,006 — NEW
54 CIEN 0.62% 13,013 $1M $81.33 $272K — —
55 DHI 0.60% 8,000 $1M $128.92 — +8,000 — NEW
56 PWFL 0.60% 238,417 $1M $4.31 — +238,417 — NEW
57 KCHVU 0.59% 100,000 $1M $10.18 — +100,000 — NEW
58 IONQ-WT 0.59% 32,071 $1M $31.64 $538K -10,872 -25.3%
59 SZZLU 0.59% 100,000 $1M $10.05 — +100,000 — NEW
60 NNAVW 0.50% 133,725 $849K $6.35 $88K -39,165 -22.6%
61 RUN 0.39% 81,639 $668K $8.18 — +81,639 — NEW
62 SLV 0.37% 19,400 $637K $32.81 -$3M -83,300 -81.1%
63 NVDA 0.37% 4,000 $632K $157.99 -$18K -2,000 -33.3%
64 CHPGU 0.37% 62,780 $628K $10.00 — +62,780 — NEW
65 WTGUU 0.35% 59,000 $595K $10.09 — +59,000 — NEW
66 TVAIU 0.35% 58,271 $592K $10.16 — +58,271 — NEW
67 BBU 0.34% 22,500 $583K $25.93 -$539K -25,351 -53.0%
68 VBNK 0.32% 48,682 $555K $11.40 $120K +6,700 +16.0%
69 JOBY-WT 0.30% 217,107 $521K $2.40 $242K -10,070 -4.4%
70 MRK 0.26% 5,684 $450K $79.16 -$608K -6,100 -51.8%
71 IMSRW 0.24% 177,489 $417K $2.35 $153K -205,279 -53.6%
72 ADX 0.21% 16,182 $351K $21.71 $51K +356 +2.2%
73 ASGI 0.18% 15,000 $306K $20.38 $30K — —
74 RVT 0.17% 19,490 $293K $15.05 $21K +382 +2.0%
75 BDJ 0.17% 32,984 $293K $8.89 $10K — —
76 DCBO 0.17% 10,100 $292K $28.94 — +10,100 — NEW
77 FLDDW 0.16% 380,780 $270K $0.71 -$18K -9,403 -2.4%
78 BIGZ 0.15% 34,843 $256K $7.34 $37K -157 -0.5%
79 ECF 0.14% 23,785 $244K $10.25 $28K — —
80 CII 0.13% 10,682 $228K $21.35 $19K -654 -5.8%
81 DMA 0.13% 24,709 $216K $8.75 $49K +5,007 +25.4%
82 SABA 0.12% 23,000 $211K $9.19 $11K — —
83 NETDW 0.11% 376,983 $181K $0.48 $30K -400 -0.1%
84 ALDFW 0.09% 298,680 $155K $0.52 $66K — —
85 TEAF 0.08% 11,119 $136K $12.24 $10K — —
86 SKYH-WT 0.07% 73,619 $125K $1.70 -$106K -1,399 -1.9%
87 TACOW 0.07% 152,268 $122K $0.80 — +152,268 — NEW
88 PCF 0.06% 16,717 $106K $6.35 -$5K — —
89 USARW 0.06% 44,142 $105K $2.38 $18K -85,983 -66.1%
90 BLDEW 0.06% 497,069 $104K $0.21 -$571 +20,000 +4.2%
91 ZEOWW 0.04% 1,277,536 $77K $0.06 — — —
92 CHACU 0.04% 244,013 $66K $0.27 — +244,013 — NEW
93 GCMGW 0.03% 79,780 $51K $0.64 -$91K -2,000 -2.5%
94 NHICW 0.03% 159,445 $51K $0.32 — +159,445 — NEW
95 SPKLW 0.03% 264,020 $50K $0.19 $16K — —
96 IPEXR 0.03% 178,617 $48K $0.27 — +178,617 — NEW
97 VCICW 0.03% 193,134 $46K $0.24 $6K — —
98 NRO 0.02% 10,400 $33K $3.22 -$832 — —
99 VEEAW 0.02% 228,890 $32K $0.14 $14K — —
100 SAFX 0.02% 33,332 $29K $0.88 — +33,332 — NEW

Options Breakdown

52 Calls $114M Call Value 42 Puts $66M Put Value 0.58 P/C Ratio

Top Calls

SymbolSharesValueStatus
GLD 105,000 $32M
BTI 390,000 $18M NEW
SLV 328,000 $11M
IBIT 142,500 $9M
LYV 34,000 $5M NEW
OMC 60,100 $4M NEW
TLT 40,000 $4M NEW
HHH 52,000 $4M NEW
CORZ 200,000 $3M NEW
FCX 75,000 $3M

Top Puts

SymbolSharesValueStatus
HYG 200,000 $16M NEW
IBIT 250,000 $15M
GLD 29,000 $9M
VTWO 62,500 $5M NEW
INVH 100,000 $3M NEW
CORZ 175,000 $3M NEW
VOO 5,000 $3M
GLXY 75,000 $2M NEW
IJR 20,000 $2M
CRWV 10,000 $2M NEW

New Positions

SymbolValue% Port
MAG $7M 3.97%
CORZ $6M 3.45%
JNPR $4M 2.33%
GTEN $4M 2.33%
TACO $3M 1.85%
CCCXU $3M 1.80%
TIXT $3M 1.77%
FLR $3M 1.74%
SBXD-UN $3M 1.59%
PCAPU $3M 1.57%
GOOG $3M 1.55%
BACCU $3M 1.46%
TACH $2M 1.44%
RDAGU $2M 1.43%
GENI $2M 1.40%

Sold Out Positions

SymbolValue% Port
DIS — —%
TFII — —%
KEYS — —%
FNV — —%
W — —%
BMEZ — —%
TGLS — —%
SPE — —%
KGC — —%
SEI — —%
NPWR — —%
PAR — —%
SOC — —%
PTA — —%
NHI — —%
View SEC EDGAR Filings for K2 PRINCIPAL FUND, L.P. →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms