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Portfolio (Quarterly) Guide ↗

K2 PRINCIPAL FUND, L.P.

· CIK 0001461790
13F Portfolio $1.2B AUM Filed Feb 13, 2026 EDGAR ↗ ← All Funds
Q1 2026 Q4 2025 · All 410 New
Page 13 of 21  ·  410 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
241 CHURCHILL CAP CORP X 46,340.0 $723K 0.06% NEW $15.60
242 OKLO PUT OKLO INC Utilities 9,900.0 $710K 0.06% NEW $71.76 -13.3%
243 TER TERADYNE INC Technology 3,664.0 $709K 0.06% NEW $193.56 +74.6%
244 CMCO COLUMBUS MCKINNON CORP N Y Industrials 40,225.0 $694K 0.06% NEW $17.25 -19.2%
245 ITB ISHARES TR 7,000.0 $674K 0.05% NEW $96.30 -9.1%
246 FFBC FIRST FINL BANCORP OH Financial Services 26,576.0 $665K 0.05% NEW $25.02 +18.5%
247 YORKVILLE ACQUISITION CORP. 65,000.0 $658K 0.05% NEW $10.13
248 SLV ISHARES SILVER TR Financial Services 10,200.0 $657K 0.05% NEW $64.42 +8.6%
249 SPCE PUT VIRGIN GALACTIC HOLDINGS INC Industrials 200,000.0 $642K 0.05% NEW $3.21 -19.6%
250 XLU CALL SELECT SECTOR SPDR TR 15,000.0 $640K 0.05% NEW $42.69 +2.9%
251 XLU PUT SELECT SECTOR SPDR TR 15,000.0 $640K 0.05% NEW $42.69 +2.9%
252 PUT PAGAYA TECHNOLOGIES LTD 30,000.0 $627K 0.05% NEW $20.90
253 APLD CALL APPLIED DIGITAL CORP Technology 25,000.0 $613K 0.05% NEW $24.52 +59.6%
254 TLT ISHARES TR 6,966.0 $607K 0.05% NEW $87.16 -4.1%
255 MRK MERCK CO INC Healthcare 5,684.0 $598K 0.05% NEW $105.26 +5.8%
256 BTDR PUT BITDEER TECHNOLOGIES GROUP Technology 50,000.0 $560K 0.04% NEW $11.21 +17.3%
257 HENNESSY CAP INVT CORP VII 53,442.0 $553K 0.04% NEW $10.35
258 CLF CLEVELAND-CLIFFS INC NEW Basic Materials 41,300.0 $548K 0.04% NEW $13.28 -19.7%
259 PRCH CALL PORCH GROUP INC Technology 60,000.0 $548K 0.04% NEW $9.13 +7.8%
260 MTA METALLA RTY STREAMING LTD Basic Materials 69,760.0 $543K 0.04% NEW $7.78 -12.5%
Page 13 of 21  ·  410 positions

Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation
Financial Services 29.3%
Basic Materials 11.6%
Technology 9.7%
Real Estate 9.2%
Consumer Cyclical 7.2%
Industrials 7.1%
Utilities 6.5%
Energy 6.5%
Consumer Defensive 5.9%
Communication Services 4.8%