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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) |
|---|---|---|---|---|---|
| PENNYMAC FINL SVCS INC NEW | COM | 70932M107 | — | 66,065 shares | $4,077,532 |
| OPENDOOR TECHNOLOGIES | 08/15/30 CVT | 683712AE3 | — | 5,000 principal | $4,054,750 |
| CRANE HBR ACQUISITION CORP I | ORD SHS CL A | G25014104 | — | 399,619 shares | $4,036,152 |
| MARA HOLDINGS INC | NOTE 1.00012/0 | 565788AB2 | — | 4,000 principal | $3,946,400 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 | CALL | 50,000 shares | $3,889,000 |
| ARCHIMEDES TECH SPAC PARTNER | ORD SHS | G04537109 | — | 362,127 shares | $3,867,516 |
| PAPA JOHN'S INTERNATIONA | 3.875 09/15/29 '26 | 698813AA0 | — | 4,250 principal | $3,778,123 |
| TALON CAP CORP | ORD SHS CL A | G86652107 | — | 360,000 shares | $3,686,400 |
| NEWBURY STR II ACQUISITION C | ORD SHS CL A | G6439S109 | — | 340,170 shares | $3,680,639 |
| HCM III ACQUISITION CORP | ORD SHS CL A | G4365E103 | — | 353,936 shares | $3,642,001 |
| MICROSOFT CORP | COM | 594918104 | — | 7,069 shares | $3,625,690 |
| OR ROYALTIES INC. | COM SHS | 68390D106 | — | 105,000 shares | $3,605,700 |
| ARES ACQUISITION CORP III | ORD SHS CL A | G3303U104 | — | 350,000 shares | $3,524,500 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 | CALL | 4,500 shares | $3,328,965 |
| DAUCH CORP | COM | 024061103 | CALL | 635,600 shares | $3,317,832 |
| UNIQURE NV | SHS | N90064101 | — | 135,751 shares | $3,279,744 |
| CANTOR EQUITY PARTNERS IV IN | SHS CL A | G1828E100 | — | 318,199 shares | $3,277,450 |
| OCEANHAWK ACQUISITION CORP | CL A ORD SHS | G6722R107 | — | 325,893 shares | $3,255,671 |
| REDDIT INC | CL A | 75734B100 | — | 22,019 shares | $3,136,386 |
| GENERAL CATALYST GBL RESIL M | CL A | G3793T104 | — | 298,000 shares | $3,009,800 |
| BR TECHNOLOGY MERGER CORP | UNIT 07/02/2031 | G1535G125 | — | 300,000 shares | $3,009,000 |
| SUNOCOCORP LLC | COM SHS LLC | 86765Q106 | — | 40,722 shares | $2,978,407 |
| ORGANON | 5.125 04/30/31 '26 | 68622TAB7 | — | 3,000 principal | $2,976,720 |
| LCI INDS | NOTE 3.000 3/0 | 501812AD3 | — | 3,000 principal | $2,975,700 |
| APPLOVIN CORP | COM CL A | 03831W108 | — | 10,174 shares | $2,954,835 |
| INFINITE EAGLE ACQUISITION C | CL A | G4802J103 | — | 288,400 shares | $2,947,448 |
| PINNACLE ACQUISITION CORP | ORD SHS CL A | G7115W109 | — | 294,609 shares | $2,901,899 |
| PELOTON INTERACTIVE INC | NOTE 5.50012/0 | 70614WAD2 | — | 2,000 principal | $2,859,600 |
| ARS PHARMACEUTICALS INC | COM | 82835W108 | — | 662,026 shares | $2,853,332 |
| JENA ACQUISITION CORP II | USD CL A ORD SHS | G5093B105 | — | 273,000 shares | $2,847,390 |
| ONEIM ACQUISITION CORP | ORD SHS CL A | G6S74K106 | — | 277,232 shares | $2,805,588 |
| KENVUE INC | COM | 49177J102 | — | 158,293 shares | $2,795,454 |
| BROOKFIELD RENEWABLE ENERGY | PARTNERSHIP UNIT | G16258108 | — | 98,800 shares | $2,780,232 |
| NET LEASE OFFICE PROPERTIES | COM | 64110Y108 | — | 275,934 shares | $2,723,469 |
| ENERGY FUELS INC | 0.750 11/01/31 CVT | 292671AC8 | — | 3,000 principal | $2,636,025 |
| GLOBAL X FDS | GLOBAL X COPPER | 37954Y830 | CALL | 30,000 shares | $2,541,000 |
| NEWHOLD INVTS CORP IV | CL A ORD SH | G6486G107 | — | 250,000 shares | $2,512,500 |
| ROYAL GOLD INC | COM | 780287108 | — | 10,625 shares | $2,507,500 |
| ALPHABET INC | CAP STK CL C | 02079K107 | — | 7,249 shares | $2,470,024 |
| UNIQURE NV | SHS | N90064101 | PUT | 100,000 shares | $2,416,000 |
| PAR TECHNOLOGY CORP | NOTE 1.50010/1 | 698884AE3 | — | 2,500 principal | $2,356,250 |
| VISTRA CORP | COM | 92840M102 | — | 16,980 shares | $2,349,183 |
| CHEESECAKE FACTORY INC | COM | 163072101 | CALL | 22,000 shares | $2,315,280 |
| FLUENCE ENERGY INC | NOTE 2.250 6/1 | 34379VAB9 | — | 3,000 principal | $2,279,700 |
| CANTOR EQUITY PARTNERS VII I | CL A ORD SHS | G1828W100 | — | 226,200 shares | $2,275,572 |
| META PLATFORMS INC | CL A | 30303M102 | — | 3,106 shares | $2,252,409 |
| LIVE OAK ACQUISITION CORP VI | UNIT 08/24/2031 | G5509W123 | — | 225,000 shares | $2,252,250 |
| CH4 NATURAL SOLUTIONS CORP | ORD SHS CL A | G2104X101 | — | 227,188 shares | $2,249,161 |
| SPDR GOLD TR | GOLD SHS | 78463V107 | — | 5,900 shares | $2,246,956 |
| NORTHSTRIVE ACQUISITION CORP | ORD SHS CL A | G6659W103 | — | 225,000 shares | $2,225,250 |
| AMAZON COM INC | COM | 023135106 | — | 8,759 shares | $2,182,305 |
| SELECT SECTOR SPDR TR | ST STR TECHN ETF | 81369Y803 | CALL | 11,000 shares | $2,153,250 |
| BERTO ACQUISITION CORP | ORD SHS | G1051H101 | — | 204,456 shares | $2,140,654 |
| CHURCHILL CAP CORP XI | CL A ORD SHS | G2131A108 | — | 182,047 shares | $2,115,386 |
| GALAXY DIGITAL HOLDIN LP | 3.000 12/15/26 CVT | 36317GAA4 | — | 2,000 principal | $2,076,590 |
| BAIN CAP GSS INVT CORP | ORD CL A | G0R78B106 | — | 201,434 shares | $2,074,770 |
| BOLD EAGLE ACQUISITION CORP | CL A | G2003N105 | — | 193,767 shares | $2,069,432 |
| KYIVSTAR GROUP LTD | W EXP 08/14/203 | G5331N119 | — | 458,865 shares | $2,064,892 |
| SELECT SECTOR SPDR TR | ST STR CARE ETF | 81369Y209 | CALL | 12,000 shares | $2,021,040 |
| AMC ENTERTAINMENT HOLDINGS | 7.500 02/15/29 '26 | 00165CBA1 | — | 2,000 principal | $2,016,540 |
| BLACK SPADE ACQUISITION III | USD CL A ORD SHS | G1154S103 | — | 200,000 shares | $2,012,000 |
| SPARTACUS ACQUISITION CORP I | CL A ORD SHS | G8303R100 | — | 200,000 shares | $2,006,000 |
| GORES HOLDINGS XI INC | ORD SHS CL A | G40008107 | — | 200,000 shares | $1,998,000 |
| VANECK ETF TRUST | JUNIOR GOLD MINE | 92189F791 | CALL | 17,500 shares | $1,994,125 |
| CLEAR CHANNEL OUTDOOR HO | 7.750 04/15/28 '26 | 18453HAC0 | — | 2,000 principal | $1,992,830 |
| IRENIC ACQUISITION CORP | ORD SHS CL A | G4939F107 | — | 200,000 shares | $1,990,000 |
| YORKVILLE INTL CAP CORP | CL A ORD SHS | G98665105 | — | 200,000 shares | $1,984,000 |
| CAESARS ENTERTAINMENT INC NE | COM | 12769G100 | — | 66,900 shares | $1,983,585 |
| COLUMBUS CIRCLE CAP CORP III | ORD SHS CL A | G2296W101 | — | 200,000 shares | $1,968,000 |
| STATE STR SPDR SP 500 ETF T | TR UNIT | 78462F103 | PUT | 2,500 shares | $1,906,575 |
| T1 ENERGY INC | NOTE 5.25012/0 | 35834FAB0 | — | 2,000 principal | $1,883,000 |
| STRATEGY INC | SERIES A PERP PF | 594972887 | — | 25,300 shares | $1,876,248 |
| GARTNER INC | COM | 366651107 | CALL | 10,000 shares | $1,865,400 |
| T1 ENERGY INC | NOTE 4.000 4/1 | 35834FAC8 | — | 2,000 principal | $1,817,200 |
| AVERIN CAP ACQUISITION CORP | ORD SHS CL A | G0679A100 | — | 180,885 shares | $1,814,277 |
| KPET ULTRA PACELINE CORP | ORD CL A | G53157106 | — | 175,998 shares | $1,761,740 |
| SERITAGE GROWTH PPTYS | CL A | 81752R100 | — | 1,081,400 shares | $1,751,868 |
| THE REALREAL | 13.000 03/01/29 '25 | 88339PAE1 | — | 1,736 principal | $1,742,701 |
| FRANCO NEV CORP | COM | 351858105 | — | 7,000 shares | $1,666,770 |
| PARAMOUNT SKYDANCE CORP | COM CL B | 69932A204 | PUT | 160,000 shares | $1,652,800 |
| UBER TECHNOLOGIES INC | COM | 90353T100 | CALL | 24,000 shares | $1,644,240 |
| HELIX ACQUISITION CORP III | USD CL A ORD SHS | G4444S107 | — | 150,000 shares | $1,593,000 |
| SPACE EXPLORATION TECHN CORP | CLASS A COM STK | 84615Q103 | PUT | 10,000 shares | $1,508,600 |
| FUTURECREST ACQUISITION CORP | CL A ORD SHS | G3730U107 | — | 147,285 shares | $1,506,725 |
| SOUTHERN CROSS ACQUISITION I | UNIT 07/09/2031 | G82941132 | — | 150,000 shares | $1,506,000 |
| LISTED FDS TR | ROUN MA SEVE ETF | 53656G498 | CALL | 21,000 shares | $1,505,490 |
| KARBON CAP PARTNERS CORP | ORD SHS CL A | G5225W100 | — | 148,548 shares | $1,495,878 |
| CLEVELAND-CLIFFS INC NEW | COM | 185899101 | — | 135,000 shares | $1,486,350 |
| RENATUS TACTICAL ACQUIS | SHS CL A | G7490F101 | — | 141,290 shares | $1,476,480 |
| ARC GROUP SECUR ACQUISITION | UNIT 06/30/2031 | G0511G125 | — | 146,505 shares | $1,469,445 |
| CORE SCIENTIFIC INC NEW | W EXP 01/23/202 | 21874A114 | — | 158,192 shares | $1,468,022 |
| ASML HLDG NV | N Y REGISTRY SHS | N07059210 | — | 806 shares | $1,460,206 |
| NVIDIA CORPORATION | COM | 67066G104 | — | 6,212 shares | $1,418,697 |
| VOX ROYALTY CORP | COM | 92919F103 | — | 273,662 shares | $1,373,783 |
| ISHARES SILVER TR | ISHARES | 46428Q109 | CALL | 25,200 shares | $1,373,652 |
| HCM IV ACQUISITION CORP | ORD USD CL A | G4365S102 | — | 134,613 shares | $1,350,168 |
| I-80 GOLD CORP | W EXP 11/16/202 | 44955L155 | — | 1,350,000 shares | $1,336,500 |
| AKAMAI TECH | 05/15/30 CVT | 00971TAR2 | — | 1,500 principal | $1,335,855 |
| GOLD ROYALTY CORP | W EXP 05/31/202 | 38071H122 | — | 1,183,387 shares | $1,301,726 |
| SAFEGUARD ACQUISITION CORP | CL A ORD SHS | G77676107 | — | 128,209 shares | $1,294,911 |