K2 PRINCIPAL FUND, L.P.

Filed: 11/15/2024ACC: 0001461790-24-000046

📋 What this filing means

K2 PRINCIPAL FUND, L.P. filed this quarterly 13F‑HR report disclosing 248 equity positions with a total reported market value of $694.66M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

248

Positions

$694.66M

Total AUM (reported)

33.89M

Total Shares

Allocation by class

COM$123.12M17.7%

NOTE 2/1$28.49M4.1%

GOLD SHS$28.27M4.1%

UNIT 99/99/9999$23.58M3.4%

NOTE 3/0$22.95M3.3%

0.25 8/15/2026$16.58M2.4%

NOTE 4.000 7/1$15.12M2.2%

Portfolio Concentration

Top 3$60.20M8.7%

4–10$95.31M13.7%

11–25$150.23M21.6%

Rest$388.92M56.0%

Top 3 weight

8.7%

Top 10 weight

22.4%

Voting Authority Distribution

Total shares with voting rights: 33.89M

Sole

Full voting authority

33.89M

% of voting shares100.0%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

0.00

% of voting shares0.0%

Investment Discretion (by position count)

Sole248

Shared0

Other0

Dominant voting typeSole · 100.0% of voting shares

Institutional Holdings248

Rows:

SPDR GOLD TR

SOLE

GOLD SHS

Shares116.30K

TypeSH

Market value$28.27M

4.07%

Sole

116.30K

Shared

0.00

None

0.00

OPENDOOR TECHNOL

SOLE

0.25 8/15/2026

Shares19.43K

TypePRN

Market value$16.58M

2.39%

Sole

19.43K

Shared

0.00

None

0.00

DROPBOX INC

SOLE

NOTE 3/0

Shares15.86K

TypePRN

Market value$15.35M

2.21%

Sole

15.86K

Shared

0.00

None

0.00

ATLANTICA SUSTAINABLE INFRA

SOLE

NOTE 4.000 7/1

Shares15.30K

TypePRN

Market value$15.12M

2.18%

Sole

15.30K

Shared

0.00

None

0.00

PELOTON INTERACTIVE INC

SOLE

NOTE 2/1

Shares16.08K

TypePRN

Market value$14.58M

2.10%

Sole

16.08K

Shared

0.00

None

0.00

NUTANIX INC

SOLE

NOTE 0.25010/0

Shares12K

TypePRN

Market value$14.36M

2.07%

Sole

12K

Shared

0.00

None

0.00

MICROSTRATEGY INC

SOLE

NOTE 2/1

Shares10.20K

TypePRN

Market value$13.91M

2.00%

Sole

10.20K

Shared

0.00

None

0.00

KAR AUCTION

SOLE

5.125 6/1/2025

Shares12.49K

TypePRN

Market value$12.55M

1.81%

Sole

12.49K

Shared

0.00

None

0.00

ISHARES GOLD TR

SOLE

ISHARES NEW

Shares250K

TypeSH

Market value$12.43M

1.79%

Sole

250K

Shared

0.00

None

0.00

SPHERE ENTM T CO

SOLE

3.50 01/12/2028

Shares8.50K

TypePRN

Market value$12.37M

1.78%

Sole

8.50K

Shared

0.00

None

0.00

ENVESTNET INC

SOLE

NOTE 0.750 8/1

Shares12K

TypePRN

Market value$11.83M

1.70%

Sole

12K

Shared

0.00

None

0.00

MARA HOLDINGS INC

SOLE

NOTE 1.00012/0

Shares13.25K

TypePRN

Market value$11.76M

1.69%

Sole

13.25K

Shared

0.00

None

0.00

AIR CANADA

SOLE

4.00 7/1/2025

Shares11.30K

TypePRN

Market value$11.58M

1.67%

Sole

11.30K

Shared

0.00

None

0.00

VERMILION ENERGY TRUST

SOLE

5.625 15/03/2025 144A

Shares11.56K

TypePRN

Market value$11.54M

1.66%

Sole

11.56K

Shared

0.00

None

0.00

TRIPADVISOR INC

SOLE

NOTE 0.250 4/0

Shares11.50K

TypePRN

Market value$10.64M

1.53%

Sole

11.50K

Shared

0.00

None

0.00

VOYAGER ACQUISITION CORP

SOLE

UNIT 99/99/9999

Shares1.04M

TypeSH

Market value$10.42M

1.50%

Sole

1.04M

Shared

0.00

None

0.00

LENDINGTREE INC

SOLE

NOTE 0.500 7/1

Shares10.22K

TypePRN

Market value$9.77M

1.41%

Sole

10.22K

Shared

0.00

None

0.00

ITEOS THERAPEUTICS INC

SOLE

COM

Shares938.65K

TypeSH

Market value$9.58M

1.38%

Sole

938.65K

Shared

0.00

None

0.00

JETBLUE AIRWAYS CORP

SOLE

NOTE 0.500 4/0

Shares10K

TypePRN

Market value$9.26M

1.33%

Sole

10K

Shared

0.00

None

0.00

RAPID7 INC

SOLE

NOTE 0.250 3/1

Shares10K

TypePRN

Market value$9.16M

1.32%

Sole

10K

Shared

0.00

None

0.00

VIRGIN GALACTIC

SOLE

2.50 01/02/2027

Shares28.50K

TypePRN

Market value$9.13M

1.31%

Sole

28.50K

Shared

0.00

None

0.00

NICE LTD

SOLE

NOTE 9/1

Shares9.32K

TypePRN

Market value$8.91M

1.28%

Sole

9.32K

Shared

0.00

None

0.00

UPSTART HLDGS INC

SOLE

NOTE 0.250 8/1

Shares10K

TypePRN

Market value$8.90M

1.28%

Sole

10K

Shared

0.00

None

0.00

WESTERN DIGITAL

SOLE

3.00 15/11/2028

Shares6K

TypePRN

Market value$8.89M

1.28%

Sole

Shared

0.00

None

0.00

IIP OP PRTNRSHP

SOLE

5.50 25/05/2026

Shares9.08K

TypePRN

Market value$8.85M

1.27%

Sole

9.08K

Shared

0.00

None

0.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole
SPDR GOLD TRSOLE	GOLD SHS	116.30K	SH	$28.27M 4.07%	116.30K
OPENDOOR TECHNOLSOLE	0.25 8/15/2026	19.43K	PRN	$16.58M 2.39%	19.43K
DROPBOX INCSOLE	NOTE 3/0	15.86K	PRN	$15.35M 2.21%	15.86K
ATLANTICA SUSTAINABLE INFRASOLE	NOTE 4.000 7/1	15.30K	PRN	$15.12M 2.18%	15.30K
PELOTON INTERACTIVE INCSOLE	NOTE 2/1	16.08K	PRN	$14.58M 2.10%	16.08K
NUTANIX INCSOLE	NOTE 0.25010/0	12K	PRN	$14.36M 2.07%	12K
MICROSTRATEGY INCSOLE	NOTE 2/1	10.20K	PRN	$13.91M 2.00%	10.20K
KAR AUCTIONSOLE	5.125 6/1/2025	12.49K	PRN	$12.55M 1.81%	12.49K
ISHARES GOLD TRSOLE	ISHARES NEW	250K	SH	$12.43M 1.79%	250K
SPHERE ENTM T COSOLE	3.50 01/12/2028	8.50K	PRN	$12.37M 1.78%	8.50K
ENVESTNET INCSOLE	NOTE 0.750 8/1	12K	PRN	$11.83M 1.70%	12K
MARA HOLDINGS INCSOLE	NOTE 1.00012/0	13.25K	PRN	$11.76M 1.69%	13.25K
AIR CANADASOLE	4.00 7/1/2025	11.30K	PRN	$11.58M 1.67%	11.30K
VERMILION ENERGY TRUSTSOLE	5.625 15/03/2025 144A	11.56K	PRN	$11.54M 1.66%	11.56K
TRIPADVISOR INCSOLE	NOTE 0.250 4/0	11.50K	PRN	$10.64M 1.53%	11.50K
VOYAGER ACQUISITION CORPSOLE	UNIT 99/99/9999	1.04M	SH	$10.42M 1.50%	1.04M
LENDINGTREE INCSOLE	NOTE 0.500 7/1	10.22K	PRN	$9.77M 1.41%	10.22K
ITEOS THERAPEUTICS INCSOLE	COM	938.65K	SH	$9.58M 1.38%	938.65K
JETBLUE AIRWAYS CORPSOLE	NOTE 0.500 4/0	10K	PRN	$9.26M 1.33%	10K
RAPID7 INCSOLE	NOTE 0.250 3/1	10K	PRN	$9.16M 1.32%	10K
VIRGIN GALACTICSOLE	2.50 01/02/2027	28.50K	PRN	$9.13M 1.31%	28.50K
NICE LTDSOLE	NOTE 9/1	9.32K	PRN	$8.91M 1.28%	9.32K
UPSTART HLDGS INCSOLE	NOTE 0.250 8/1	10K	PRN	$8.90M 1.28%	10K
WESTERN DIGITALSOLE	3.00 15/11/2028	6K	PRN	$8.89M 1.28%	6K
IIP OP PRTNRSHPSOLE	5.50 25/05/2026	9.08K	PRN	$8.85M 1.27%	9.08K

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