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K2 PRINCIPAL FUND, L.P.
Period ended Sep 30, 2026 · Latest filing Nov 13, 2026
These quarterly holdings are delayed and may not include all assets or short positions.
Values are from the reporting date, not current prices or purchase costs.
The same security may appear in multiple rows.
Source: SEC
Reported portfolio value
Quarter-end reported holdings; not current value or investment performance.
View reported values
- Dec 31, 2024: $900,620,519
- Mar 31, 2025: $788,186,181
- Jun 30, 2025: $725,229,989
- Sep 30, 2025: $1,231,447,683
- Dec 31, 2025: $1,241,204,705
- Mar 31, 2026: $1,432,158,045
- Jun 30, 2026: $1,364,900,286
- Sep 30, 2026: $1,204,524,978
Top holdings
Top 10 at Sep 30, 2026. Matching entries are combined; security classes and options remain separate. Shares exclude principal amounts; option shares reflect the reported underlying amount.
View top holdings values
- VANECK ETF TRUST · GOLD MINERS ETF · 92189F106 · shares · PUT: $33,364,001
- SPDR GOLD TR · GOLD SHS · 78463V107 · shares · CALL: $19,346,672
- AVNET INC · NOTE 1.750 9/0 · 053807AZ6 · principal: $18,213,600
- STRATEGY INC · NOTE 0.625 9/1 · 594972AQ4 · principal: $17,925,000
- CHEESECAKE FACTORY INC · NOTE 2.000 3/1 · 163072AC5 · principal: $17,218,730
- CLOUDFLARE INC · NOTE 6/1 · 18915MAF4 · principal: $15,771,000
- PAR TECHNOLOGY CORP · 4.000 03/15/31 CVT · 698884AK9 · principal: $15,128,343
- GAMESTOP CORP · NOTE 4/0 · 36467WAE9 · principal: $15,101,800
- RUBRIK INC. · NOTE 6/1 · 781154AD1 · principal: $14,324,400
- GUARDANT HEALTH INC · NOTE 11/1 · 40131MAB5 · principal: $13,689,000
Reported holdings
468 reported entries| Issuer | Class | CUSIP | Type | Shares / principal | Reported value (USD) |
|---|---|---|---|---|---|
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 | PUT | 380,000 shares | $33,364,001 |
| SPDR GOLD TR | GOLD SHS | 78463V107 | CALL | 50,800 shares | $19,346,672 |
| AVNET INC | NOTE 1.750 9/0 | 053807AZ6 | — | 12,000 principal | $18,213,600 |
| STRATEGY INC | NOTE 0.625 9/1 | 594972AQ4 | — | 15,000 principal | $17,925,000 |
| CHEESECAKE FACTORY INC | NOTE 2.000 3/1 | 163072AC5 | — | 10,900 principal | $17,218,730 |
| CLOUDFLARE INC | NOTE 6/1 | 18915MAF4 | — | 10,000 principal | $15,771,000 |
| PAR TECHNOLOGY CORP | 4.000 03/15/31 CVT | 698884AK9 | — | 13,900 principal | $15,128,343 |
| GAMESTOP CORP | NOTE 4/0 | 36467WAE9 | — | 14,000 principal | $15,101,800 |
| RUBRIK INC. | NOTE 6/1 | 781154AD1 | — | 12,000 principal | $14,324,400 |
| GUARDANT HEALTH INC | NOTE 11/1 | 40131MAB5 | — | 10,000 principal | $13,689,000 |
| DROPBOX INC | NOTE 3/0 | 26210CAD6 | — | 12,000 principal | $13,224,000 |
| GOLAR LNG LTD | NOTE 2.75012/1 | 38046YAD3 | — | 12,000 principal | $13,047,600 |
| I-80 GOLD CORP | 3.750 04/15/31 CVT | 44955LAC0 | — | 11,000 principal | $13,000,570 |
| ON SEMICONDUCTOR CORP | NOTE 0.500 3/0 | 682189AU9 | — | 12,000 principal | $12,740,400 |
| BITDEER TECHNOLOGIES GRP | 5.250 12/01/29 CVT PUT | 09175RAB6 | — | 11,000 principal | $12,621,950 |
| ALLIED GOLD | 8.750 09/07/28 '27 CVT | 01921DAA3 | — | 10,442 principal | $12,530,400 |
| MARA HOLDINGS INC | NOTE 3/0 | 565788AF3 | — | 12,500 principal | $12,210,000 |
| VIRGIN GALATIC HOLDINGS | 2.500 02/01/27 CVT | 92766KAA4 | — | 12,500 principal | $12,156,750 |
| ISHARES TR | CORE SP SCP ETF | 464287804 | CALL | 88,000 shares | $11,971,519 |
| SOLARIS ENERGY INFRAS INC | NOTE 0.25010/0 | 83419XAB4 | — | 8,000 principal | $11,798,400 |
| AST SPACEMOBILE INC | 2.375 10/15/32 CVT | 00217DAC4 | — | 10,500 principal | $11,716,110 |
| FRESHPET INC | NOTE 3.000 4/0 | 358039AB1 | — | 10,000 principal | $11,324,000 |
| VANECK ETF TRUST | JUNIOR GOLD MINE | 92189F791 | PUT | 98,500 shares | $11,224,075 |
| ETSY INC | NOTE 1.000 6/1 | 29786AAQ9 | — | 10,000 principal | $11,060,000 |
| LUCID GROUP INC | 1.250 12/15/26 CVT | 549498AA1 | — | 11,500 principal | $11,053,973 |
| CORE SCIENTIFIC INC | 06/15/31 CVT PUT | 21874AAE6 | — | 9,724 principal | $10,764,079 |
| MUVICO LLC | 8.000 04/30/30 CVT | 62844JAA6 | — | 113,455 principal | $10,675,472 |
| COINBASE GLOBAL INC | NOTE 0.250 4/0 | 19260QAF4 | — | 11,000 principal | $10,440,100 |
| BOX INC | NOTE 1.500 9/1 | 10316TAD6 | — | 10,000 principal | $10,325,000 |
| PEBBLEBROOK HOTEL TRUST | 1.625 01/15/30 CVT | 70509VAB6 | — | 8,000 principal | $10,292,400 |
| CERENCE INC | NOTE 1.500 7/0 | 156727AD1 | — | 11,000 principal | $10,058,400 |
| WIX COM LTD | NOTE 9/1 | 92940WAF6 | — | 12,000 principal | $9,975,600 |
| AKAMAI TECHNOLOGIES INC | NOTE 1.125 2/1 | 00971TAN1 | — | 9,000 principal | $9,945,000 |
| SOUTHERN CO | NOTE 3.250 6/1 | 842587ED5 | — | 10,000 principal | $9,714,000 |
| ABIVAX SA | SPONSORED ADS | 00370M103 | — | 96,681 shares | $9,573,352 |
| COLLIERS INTL GROUP INC | SUB VTG SHS | 194693107 | — | 103,534 shares | $9,297,354 |
| SUNRUN INC | NOTE 4.000 3/0 | 86771WAD7 | — | 10,000 principal | $9,241,000 |
| LIVE NATION ENTERTAINMENT | 2.875 10/15/31 CVT | 538034BD0 | — | 9,000 principal | $9,210,195 |
| UBER TECHNOLOGIES INC | NOTE 0.87512/0 | 90353TAM2 | — | 8,000 principal | $9,174,400 |
| COREWEAVE INC | 1.750 12/01/31 CVT | 21873SAD0 | — | 9,000 principal | $9,113,265 |
| STRATEGY INC | NOTE 0.625 3/1 | 594972AJ0 | — | 7,000 principal | $9,058,000 |
| MARRIOTT VACATIONS WORLDWIDE | NOTE 3.25012/1 | 57164YAF4 | — | 9,000 principal | $8,932,500 |
| VIRGIN GALATIC HOLDINGS | 9.800 12/31/28 '26 | 92766KAC0 | — | 10,184 principal | $8,772,905 |
| BLACKSKY TECHNOLOGY INC | 8.250 08/01/33 CVT PUT | 09263BAA6 | — | 7,507 principal | $8,707,557 |
| WISDOMTREE INC | NOTE 4.625 8/1 | 97717PAK0 | — | 5,973 principal | $8,701,470 |
| DATADOG INC | NOTE 12/0 | 23804LAD5 | — | 6,000 principal | $8,675,400 |
| MARA HOLDINGS INC | NOTE 6/0 | 565788AH9 | — | 9,000 principal | $8,621,100 |
| GLOBAL X FDS | GLOBAL X COPPER | 37954Y830 | PUT | 100,000 shares | $8,470,000 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 | CALL | 30,000 shares | $8,336,700 |
| DIGITALOCEAN HLDGS INC | NOTE 12/0 | 25402DAB8 | — | 8,000 principal | $8,038,400 |
| DAUCH CORP | COM | 024061103 | — | 1,514,926 shares | $7,907,913 |
| VIZSLA SILVER CORP | 5.000 01/15/31 CVT | 92859GAA1 | — | 7,210 principal | $7,792,892 |
| ARRAY TECHNOLOGIES INC | NOTE 2.875 7/0 | 04271TAD2 | — | 9,000 principal | $7,716,600 |
| AMC GLOBAL MEDIA INC | NOTE 4.250 2/1 | 00164VAJ2 | — | 6,616 principal | $7,710,290 |
| DENISON MINES CORP | NOTE 4.250 9/1 | 248356AB3 | — | 6,000 principal | $7,684,800 |
| STRATEGY INC | NOTE 3/0 | 594972AU5 | — | 8,000 principal | $7,564,800 |
| FLUOR CORP | NOTE 1.125 8/1 | 343412AJ1 | — | 6,000 principal | $7,457,400 |
| PEBBLEBROOK HOTEL TR | NOTE 1.75012/1 | 70509VAA8 | — | 7,473 principal | $7,422,930 |
| MCEWEN INC. | NOTE 5.250 8/1 | 58039PAB3 | — | 4,000 principal | $7,358,400 |
| UNITED STS OIL FD LP | UNITS | 91232N207 | CALL | 50,000 shares | $7,283,000 |
| CLEAR CHANNEL OUTDOOR HO | 7.500 06/01/29 '26 | 18453HAD8 | — | 7,275 principal | $7,235,751 |
| RAYONIER ADVANCED MATLS INC | COM | 75508B104 | — | 893,434 shares | $7,120,669 |
| GALAXY DIGITAL HOLDIN LP | 2.500 12/01/29 CVT | 36317GAB2 | — | 5,500 principal | $7,120,163 |
| INNOVATIVE INDUSTRIAL PROPERTIES | 6.000 06/15/29 CVT | 44988FAF7 | — | 7,000 principal | $7,063,350 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 | PUT | 25,000 shares | $6,947,250 |
| SIRIUSXM HOLDINGS INC | NOTE 3.750 3/1 | 531229AP7 | — | 6,500 principal | $6,945,250 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 | — | 145,342 shares | $6,880,490 |
| NEKTAR THERAPEUTICS | COM NEW | 640268306 | — | 106,939 shares | $6,474,087 |
| LIONSGATE STUDIOS CORP | COM | 53626N102 | — | 574,067 shares | $6,429,550 |
| METALS ACQUISITION CORP II | ORD CL A | G60420109 | — | 632,197 shares | $6,423,121 |
| COMPASS | 0.250 04/15/31 CVT | 20464UAA8 | — | 7,000 principal | $6,330,135 |
| WILLOW LANE ACQUISITION CRP | USD CL A ORD SHS | G9675K103 | — | 589,328 shares | $6,064,185 |
| GUIDEWIRE SOFTWARE INC | NOTE 1.25011/0 | 40171VAC4 | — | 6,000 principal | $5,871,000 |
| MGM RESORTS INTERNATIONAL | COM | 552953101 | — | 183,306 shares | $5,691,651 |
| VANGUARD WORLD FD | EXTENDED DUR | 921910709 | CALL | 100,000 shares | $5,545,000 |
| COMPASS PATHWAYS PLC | SPONSORED ADS | 20451W101 | — | 443,106 shares | $5,512,238 |
| COHEN CIRCLE ACQUISIT CORP I | SHS CL A | G2254C121 | — | 530,739 shares | $5,466,612 |
| NEW FLYER HOLDINGS | 9.250 07/01/30 '27 | 64438WAA5 | — | 5,000 principal | $5,313,125 |
| SILVIA INC | COM SHS | 74277P105 | — | 1,347,802 shares | $5,229,472 |
| AURORA CANNABIS INC | COM | 05156X850 | — | 1,297,943 shares | $5,061,978 |
| HAYMAKER ACQUISITION CORP V | UNIT 99/99/9999 | G43866121 | — | 500,000 shares | $5,010,000 |
| BROOKFIELD RESIDENTAL PROPERTIES | 6.250 09/15/27 '26 | 11283YAB6 | — | 5,000 principal | $4,967,400 |
| GAMESTOP CORP | CL A | 36467W109 | PUT | 200,000 shares | $4,930,000 |
| CLEANSPARK INC | NOTE 6/1 | 18452BAC4 | — | 4,000 principal | $4,888,400 |
| TRUMP MEDIA AND TECH | 05/29/28 CVT PUT | 25400QAA3 | — | 5,000 principal | $4,874,725 |
| COLLIERS INTL GROUP INC | SUB VTG SHS | 194693107 | CALL | 54,200 shares | $4,867,160 |
| PROCAP FINANCIAL INC | 0 12/05/28 | 74277PAA3 | — | 5,000 principal | $4,781,925 |
| GREENFIRE RES LTD NEW | COM SHS | 39525U107 | — | 845,186 shares | $4,775,301 |
| RIOT PLATFORMS INC | NOTE 0.750 1/1 | 767292AB1 | — | 3,000 principal | $4,674,600 |
| NORFOLK SOUTHN CORP | COM | 655844108 | — | 14,991 shares | $4,632,219 |
| FORTRESS VALUE ACQU CORP V | ORD SHS CL A | G3645T104 | — | 449,812 shares | $4,610,573 |
| METALLA RTY STREAMING LTD | COM NEW | 59124U605 | — | 479,760 shares | $4,519,339 |
| NORTHERN OIL GAS INC | NOTE 3.625 4/1 | 665531AJ8 | — | 4,425 principal | $4,425,000 |
| AMR RES ACQUISITION CORP | CL A ORD SHS | G03456103 | — | 450,000 shares | $4,405,500 |
| FIRST SOLAR INC | COM | 336433107 | — | 25,000 shares | $4,379,000 |
| POLARIS RENEWABLE ENERGY | 9.500 12/03/29 '27 | C7373NAA8 | — | 4,000 principal | $4,224,380 |
| AMERICAN EXCEPTIONALISM ACQU | ORD CL A | G0273J101 | — | 378,965 shares | $4,221,670 |
| IVES ULTRA AI OPPORTUNITIES | COMMON STOCK | 90386L108 | — | 406,947 shares | $4,150,859 |
| ARCHIMEDES TECH SPAC PTNRS I | ORD SHS | G0453R105 | — | 408,333 shares | $4,115,997 |
| CHURCHILL CAP CORP XII | CL A ORD SHS | G2131M102 | — | 383,976 shares | $4,089,344 |