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Portfolio (Quarterly) Guide ↗

K2 PRINCIPAL FUND, L.P.

· CIK 0001461790
13F Portfolio $1.4B AUM 487 positions Filed May 14, 2026 EDGAR ↗ ← All Funds
Q1 2026 Q4 2025 · All 212 New 74 Added 83 Reduced 135 Exited
Page 2 of 25  ·  487 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
21 WIX LTD 14,500.0 $12.0M 0.84% NEW $830.54
22 CERENCE INC 13,750.0 $12.0M 0.84% -3K -17.9% $871.30
23 HYG PUT ISHARES TR 150,000.0 $11.9M 0.83% NEW $79.56 -0.1%
24 LUCID GROUP INC 12,500.0 $11.8M 0.82% $941.94
25 DROPBOX INC 12,000.0 $11.4M 0.80% +5K +71.4% $950.00
26 I-80 GOLD CORP 10,000.0 $11.2M 0.78% NEW $1120.44
27 MARA HOLDINGS INC 12,500.0 $11.1M 0.77% $884.30
28 COINBASE GLOBAL INC 11,000.0 $10.2M 0.71% +2K +22.2% $931.20
29 XPLR INFRASTRUCTURE LP 10,000.0 $9.9M 0.69% $993.41
30 SNAP INC 10,000.0 $9.9M 0.69% $986.00
31 UPSTART HLDGS INC 10,000.0 $9.8M 0.68% $979.90
32 UBER TECHNOLOGIES INC 8,000.0 $9.7M 0.68% $1208.30
33 ETSY INC 10,000.0 $9.7M 0.68% NEW $966.10
34 ADVANCED ENERGY INDS 4,000.0 $9.6M 0.67% $2401.20
35 GOOG ALPHABET INC Communication Services 33,205.0 $9.5M 0.67% +20K +148.7% $286.86 +38.5%
36 SUNRUN INC 8,000.0 $9.5M 0.66% +4K +100.0% $1184.00
37 RUBRIK INC 11,000.0 $9.5M 0.66% NEW $860.97
38 WISDOMTREE INC 7,000.0 $9.4M 0.65% +1K +16.7% $1337.40
39 RYAM CALL RAYONIER ADVANCED MATLS INC Basic Materials 845,000.0 $9.4M 0.65% +249K +41.7% $11.07 -14.2%
40 DENISON MINES CORP 6,000.0 $9.3M 0.65% +3K +100.0% $1554.71
Page 2 of 25  ·  487 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 32.5%
Technology 10.0%
Consumer Cyclical 8.5%
Energy 8.3%
Industrials 8.2%
Communication Services 7.9%
Basic Materials 7.8%
Healthcare 6.1%
Utilities 6.1%
Real Estate 2.3%