K2 PRINCIPAL FUND, L.P.
•CIK: 1461790•Filing: Q4 2025
**K2 PRINCIPAL FUND, L.P.** manages $1.2B across a diversified portfolio of 385 positions. The fund exhibits significant concentration in key names, notably holding GQ9 at $42.5M, UBS at $39.8M, and SPY at $39.7M. Further allocations include substantial exposure to VYLD ($23.4M) and AAUC ($23.3M). This structure suggests a tactical approach targeting large-cap growth, financial institutions, and broad market indices.
Total AUM
$261.6M
+ $234.3M in options
QoQ Performance
-1.6%
Positions
214
+ 39 options
Top 10 Concentration
38.1%
Latest Filing
Q4 2025
Top Holdings Allocation
GQ9
SPY
GQ98.6%
SPY8.0%
GDX4.0%
FCX3.6%
SLV3.4%
PAR3.1%
NDQ2.5%
BMTA1.8%
📈 Biggest Buys
📉 Biggest Sells
Sector Breakdown
Other84.1%
ETF8.9%
Materials3.6%
Technology2.4%
Consumer0.9%
Healthcare0.1%
Real Estate0.0%
🚪 Exited Positionssold since Q3 2025
—
TALON CAP CORP
SOLD
$4.5M
+123 more exited positions
Changes from Q3 2025
NEW88 new positions
↑39 increased
↓50 decreased
Historical Filings
Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023