Holders — by stockHoldings — by fund
K2 PRINCIPAL FUND, L.P.
Everything this manager disclosed owning in US-listed stocks — its complete Form 13F portfolio · as of 2026-06-30 · filed with the SEC up to 45 days after quarter end · CIK 0001461790
$1.36B
disclosed book value
462
positions
4%
largest position share
Positions, as of 2026-06-30
top 100 of 462 · 13F covers long US-listed positions only — cash, bonds, private and foreign stakes are not disclosed · PUT/CALL tags = options positions (share-equivalents), not shares held
| # | Issuer | Shares | Value | % of book |
|---|---|---|---|---|
| 1 | GLDSPDR GOLD TRCALL | 148,600 | $54.7M | 4% |
| 2 | AAUC 8.75 09/07/28ALLIED GOLD | 15,973 | $26.2M | 1.9% |
| 3 | GLDSPDR GOLD TRPUT | 62,000 | $22.8M | 1.7% |
| 4 | GDXJVANECK ETF TRUSTPUT | 195,000 | $19.2M | 1.4% |
| 5 | PAR 4 03/15/31PAR TECHNOLOGY CORP | 13,900 | $17.1M | 1.2% |
| 6 | AVT 1.75 09/01/30AVNET | 12,000 | $16.8M | 1.2% |
| 7 | ASTS 2.375 10/15/32AST SPACEMOBILE INC | 10,500 | $16.7M | 1.2% |
| 8 | NET 0 06/15/30CLOUDFLARE INC | 13,000 | $16.5M | 1.2% |
| 9 | MSTR 0.625 09/15/28STRATEGY INC | 15,000 | $15.4M | 1.1% |
| 10 | ON 0.5 03/01/29ON SEMICONDUCTOR CORP | 12,000 | $14.5M | 1.1% |
| 11 | W 3.25 09/15/27WAYFAIR INC | 9,349 | $14.3M | 1% |
| 12 | GME 0 04/01/30GAMESTOP CORP | 14,000 | $14.3M | 1% |
| 13 | PFSIPENNYMAC FINL SVCS INC NEW | 159,766 | $13.9M | 1% |
| 14 | COPXGLOBAL X FDSPUT | 180,000 | $13.9M | 1% |
| 15 | GOLAR LNG LTD | 12,000 | $13.7M | 1% |
| 16 | SEI 0.25 10/01/31SOLARIS ENERGY INFRAS INC | 8,000 | $13.0M | 0.9% |
| 17 | MARA 0 03/01/30MARA HOLDINGS INC | 12,500 | $12.6M | 0.9% |
| 18 | IAUCN 3.75 04/15/31I-80 GOLD CORP | 11,000 | $12.2M | 0.9% |
| 19 | RBRK 0 06/15/30RUBRIK INC. | 12,000 | $12.2M | 0.9% |
| 20 | DBX 0 03/01/28DROPBOX INC | 12,000 | $12.1M | 0.9% |
| 21 | SPCE 2.5 02/01/27VIRGIN GALATIC HOLDINGS | 12,500 | $12.0M | 0.9% |
| 22 | LCID 1.25 12/15/26LUCID GROUP INC | 12,500 | $12.0M | 0.9% |
| 23 | CRWV 1.75 12/01/31COREWEAVE INC | 10,000 | $11.9M | 0.9% |
| 24 | RUN 4 03/01/30SUNRUN INC | 10,000 | $11.9M | 0.9% |
| 25 | SPYSTATE STR SPDR SP 500 ETF TPUT | 15,900 | $11.9M | 0.9% |
| 26 | GLDSPDR GOLD TR | 32,180 | $11.9M | 0.9% |
| 27 | FRPT 3 04/01/28FRESHPET INC | 10,000 | $11.7M | 0.9% |
| 28 | ETSY 1 06/15/30ETSY INC | 10,000 | $11.6M | 0.9% |
| 29 | SLVISHARES SILVER TRCALL | 217,500 | $11.6M | 0.9% |
| 30 | ABVXABIVAX SACALL | 85,100 | $11.3M | 0.8% |
| 31 | FCXFREEPORT MCMORAN INCPUT | 176,400 | $11.1M | 0.8% |
| 32 | CRNC 1.5 07/01/28CERENCE INC | 12,000 | $11.1M | 0.8% |
| 33 | PEB 1.625 01/15/30PEBBLEBROOK HOTEL TRUST | 8,000 | $10.8M | 0.8% |
| 34 | AKAM 1.125 02/15/29AKAMAI TECHNOLOGIES INC | 9,000 | $10.7M | 0.8% |
| 35 | EA*ELECTRONIC ARTS INCPUT | 50,500 | $10.4M | 0.8% |
| 36 | SO 3.25 06/15/28SOUTHERN CO | 10,000 | $10.1M | 0.7% |
| 37 | SNAP 0.75 08/01/26SNAP INC | 10,000 | $10.0M | 0.7% |
| 38 | WIX 0 09/15/30WIX LTD | 13,000 | $9.9M | 0.7% |
| 39 | LYV 2.875 10/15/31LIVE NATION ENTERTAINMENT | 9,000 | $9.9M | 0.7% |
| 40 | UPST 0.25 08/15/26UPSTART HLDGS INC | 10,000 | $9.9M | 0.7% |
| 41 | COIN 0.25 04/01/30COINBASE GLOBAL INC | 11,000 | $9.9M | 0.7% |
| 42 | IJRISHARES TRCALL | 66,000 | $9.8M | 0.7% |
| 43 | BOX 1.5 09/15/29BOX INC | 10,000 | $9.8M | 0.7% |
| 44 | BKSY 8.25 08/01/33BLACKSKY TECHNOLOGY INC | 7,507 | $9.7M | 0.7% |
| 45 | UBER 0.875 12/01/28 2028UBER TECHNOLOGIES INC | 8,000 | $9.6M | 0.7% |
| 46 | BTDR 5.25 12/01/29BITDEER TECHNOLOGIES GRP | 7,000 | $9.6M | 0.7% |
| 47 | GOOGALPHABET INC | 26,773 | $9.5M | 0.7% |
| 48 | TE 4 04/15/31T1 ENERGY INC | 5,500 | $9.4M | 0.7% |
| 49 | AMC 6 04/30/30 144AMUVICO LLC | 11,345 | $9.2M | 0.7% |
| 50 | SPCE 9.8 12/31/28 QIBVIRGIN GALATIC HOLDINGS | 10,184 | $9.1M | 0.7% |
| 51 | TE 5.25 12/01/30T1 ENERGY INC | 5,250 | $9.0M | 0.7% |
| 52 | VAC 3.25 12/15/27MARRIOTT VACATIONS WORLDWIDE | 9,000 | $8.9M | 0.7% |
| 53 | MARA 0 06/01/31MARA HOLDINGS INC | 9,000 | $8.7M | 0.6% |
| 54 | DMLCN 4.25 09/15/31 .DENISON MINES CORP | 6,000 | $8.5M | 0.6% |
| 55 | DDOG 0 12/01/29DATADOG INC | 6,000 | $8.5M | 0.6% |
| 56 | SUNCSUNOCOCORP LLC | 122,821 | $8.3M | 0.6% |
| 57 | SPYSTATE STR SPDR SP 500 ETF TCALL | 10,900 | $8.1M | 0.6% |
| 58 | GLXYLP 2.5 12/01/29GALAXY DIGITAL HOLDIN LP | 5,500 | $8.1M | 0.6% |
| 59 | OPEN 0.25 08/15/26OPENDOOR TECHNOLOGIES IN | 8,150 | $8.1M | 0.6% |
| 60 | FLR 1.125 08/15/29FLUOR CORP | 6,000 | $7.9M | 0.6% |
| 61 | REAL 1 03/01/28THE REALREAL INC | 8,500 | $7.6M | 0.6% |
| 62 | COMPASS | 7,000 | $7.6M | 0.6% |
| 63 | ARRAY TECHNOLOGIES INC | 6,000 | $7.5M | 0.5% |
| 64 | PEB 1.75 12/15/26PEBBLEBROOK HOTEL TR | 7,473 | $7.4M | 0.5% |
| 65 | VZLACN 5 01/15/31VIZSLA SILVER CORP | 7,210 | $7.3M | 0.5% |
| 66 | CCO 7.5 06/01/29 144ACLEAR CHANNEL OUTDOOR HO | 7,275 | $7.3M | 0.5% |
| 67 | MSTR 0.625 03/15/30STRATEGY INC | 7,000 | $7.2M | 0.5% |
| 68 | MSTR 0 03/01/30STRATEGY INC | 8,000 | $7.1M | 0.5% |
| 69 | DCHDAUCH CORP | 1.3M | $7.0M | 0.5% |
| 70 | BWABORGWARNER INC | 101,430 | $6.7M | 0.5% |
| 71 | TET1 ENERGY INCCALL | 694,500 | $6.6M | 0.5% |
| 72 | CIGICOLLIERS INTL GROUP INC | 69,557 | $6.5M | 0.5% |
| 73 | PTON 5.5 12/01/29PELOTON INTERACTIVE INC | 4,000 | $6.5M | 0.5% |
| 74 | EFAISHARES TRPUT | 60,000 | $6.2M | 0.5% |
| 75 | RIOT 0.75 01/15/30RIOT PLATFORMS INC | 3,000 | $6.0M | 0.4% |
| 76 | GDXJVANECK ETF TRUSTCALL | 60,600 | $6.0M | 0.4% |
| 77 | GWRE 1.25 11/01/29GUIDEWIRE SOFTWARE INC | 6,000 | $5.8M | 0.4% |
| 78 | APPAPPLOVIN CORP | 11,079 | $5.7M | 0.4% |
| 79 | ARCHIMEDES TECH SPAC PARTNER | 526,227 | $5.7M | 0.4% |
| 80 | MARA 1 12/01/26MARA HOLDINGS INC | 6,000 | $5.6M | 0.4% |
| 81 | WOLFSPEED | 5,051 | $5.6M | 0.4% |
| 82 | ARRY 1 12/01/28ARRAY TECHNOLOGIES INC | 6,000 | $5.6M | 0.4% |
| 83 | FSLRFIRST SOLAR INC | 23,500 | $5.5M | 0.4% |
| 84 | COHEN CIRCLE ACQUISIT CORP I | 530,739 | $5.5M | 0.4% |
| 85 | USOUNITED STS OIL FD LPCALL | 50,000 | $5.3M | 0.4% |
| 86 | INNOVATIVE INDUSTRIAL PROPERTIES | 5,000 | $5.3M | 0.4% |
| 87 | PLUG 6.75 12/01/33PLUG POWER INC | 3,875 | $5.2M | 0.4% |
| 88 | QQQINVESCO QQQ TRCALL | 7,000 | $5.2M | 0.4% |
| 89 | RYAMRAYONIER ADVANCED MATLS INC | 615,738 | $4.8M | 0.4% |
| 90 | TRUMP MEDIA AND TECH | 5,000 | $4.8M | 0.3% |
| 91 | NSCNORFOLK SOUTHN CORP | 14,991 | $4.7M | 0.3% |
| 92 | RDDTREDDIT INC | 26,913 | $4.7M | 0.3% |
| 93 | SKYWATER TECHNOLOGY INC | 130,705 | $4.6M | 0.3% |
| 94 | WILLOW LANE ACQUISITION CRP | 439,328 | $4.5M | 0.3% |
| 95 | GMEGAMESTOP CORPPUT | 200,000 | $4.4M | 0.3% |
| 96 | KVUEKENVUE INC | 229,093 | $4.4M | 0.3% |
| 97 | MSFTMICROSOFT CORP | 11,638 | $4.3M | 0.3% |
| 98 | RMAXRE/MAX HLDGS INC | 434,766 | $4.3M | 0.3% |
| 99 | DCHDAUCH CORPCALL | 790,300 | $4.3M | 0.3% |
| 100 | NOG 3.625 04/15/29NORTHERN OIL GAS INC | 4,425 | $4.2M | 0.3% |
Source: SEC Form 13F-HR, reporting period 2026-06-30. Values are the manager's filed June-30-style quarter-end marks, not live prices. Research, not investment advice.