Filed: 2/14/2025ACC: 0001461790-25-000034
📋 What this filing means
K2 PRINCIPAL FUND, L.P. filed this quarterly 13F‑HR report disclosing 287 equity positions with a total reported market value of $900.62M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
287
Positions
$900.62M
Total AUM (reported)
37.49M
Total Shares
Allocation by class
COM$135.82M15.1%
GOLD SHS$44.34M4.9%
SP 500 ETF SHS$34.48M3.8%
CL A$28.63M3.2%
NOTE 3/0$23.42M2.6%
COM CL A$21.49M2.4%
SHS CL A$16.84M1.9%
Portfolio Concentration
Top 3$97.11M10.8%
4–10$105.80M11.7%
11–25$166.01M18.4%
Rest$531.70M59.0%
Top 3 weight
10.8%
Top 10 weight
22.5%
Voting Authority Distribution
Total shares with voting rights: 37.49M
Sole
Full voting authority
37.49M
shares
% of voting shares100.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole287
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings287
Rows:
SPDR GOLD TR
SOLEShares183.15K
TypeSH
Market value$44.34M
4.92%
Sole
183.15K
Shared
0.00
None
0.00
VANGUARD INDEX FDS
SOLEShares64K
TypeSH
Market value$34.48M
3.83%
Sole
64K
Shared
0.00
None
0.00
AMAZON COM INC
SOLEShares83.32K
TypeSH
Market value$18.28M
2.03%
Sole
83.32K
Shared
0.00
None
0.00
DROPBOX INC
SOLEShares15.86K
TypePRN
Market value$15.72M
1.75%
Sole
15.86K
Shared
0.00
None
0.00
SOLARIS ENERGY INFRAS INC
SOLEShares544.03K
TypeSH
Market value$15.66M
1.74%
Sole
544.03K
Shared
0.00
None
0.00
OPENDOOR TECHNOL
SOLEShares17.43K
TypePRN
Market value$15.30M
1.70%
Sole
17.43K
Shared
0.00
None
0.00
ATLANTICA JERSEY
SOLEShares15.30K
TypePRN
Market value$15.28M
1.70%
Sole
15.30K
Shared
0.00
None
0.00
PELOTON INTERACTIVE INC
SOLEShares15.68K
TypePRN
Market value$14.65M
1.63%
Sole
15.68K
Shared
0.00
None
0.00
AIR CANADA
SOLEShares13.08K
TypePRN
Market value$14.63M
1.62%
Sole
13.08K
Shared
0.00
None
0.00
NUTANIX INC
SOLEShares12K
TypePRN
Market value$14.56M
1.62%
Sole
12K
Shared
0.00
None
0.00
ISHARES BITCOIN TRUST ETF
SOLEShares270K
TypeSH
Market value$14.32M
1.59%
Sole
270K
Shared
0.00
None
0.00
VIRGIN GALACTIC
SOLEShares28.50K
TypePRN
Market value$12.49M
1.39%
Sole
28.50K
Shared
0.00
None
0.00
KAR AUCTION
SOLEShares12.49K
TypePRN
Market value$12.45M
1.38%
Sole
12.49K
Shared
0.00
None
0.00
ISHARES GOLD TR
SOLEShares250K
TypeSH
Market value$12.38M
1.37%
Sole
250K
Shared
0.00
None
0.00
ENVESTNET INC
SOLEShares12K
TypePRN
Market value$11.97M
1.33%
Sole
12K
Shared
0.00
None
0.00
SPHERE ENTERTAINMENT CO
SOLEShares8.50K
TypePRN
Market value$11.64M
1.29%
Sole
8.50K
Shared
0.00
None
0.00
VERMILION ENERGY TRUST
SOLEShares11.56K
TypePRN
Market value$11.54M
1.28%
Sole
11.56K
Shared
0.00
None
0.00
MARA HOLDINGS
SOLEShares12.50K
TypePRN
Market value$10.87M
1.21%
Sole
12.50K
Shared
0.00
None
0.00
TRIPADVISOR INC
SOLEShares11.50K
TypePRN
Market value$10.74M
1.19%
Sole
11.50K
Shared
0.00
None
0.00
ALPHABET INC
SOLEShares52.05K
TypeSH
Market value$9.91M
1.10%
Sole
52.05K
Shared
0.00
None
0.00
WINNEBAGO INDU
SOLEShares10.93K
TypePRN
Market value$9.85M
1.09%
Sole
10.93K
Shared
0.00
None
0.00
MICROSTRATEGY
SOLEShares12K
TypePRN
Market value$9.71M
1.08%
Sole
12K
Shared
0.00
None
0.00
AKAMAI TECHNOLOGIES INC
SOLEShares9.50K
TypePRN
Market value$9.55M
1.06%
Sole
9.50K
Shared
0.00
None
0.00
JETBLUE AIRWAYS CORP
SOLEShares10K
TypePRN
Market value$9.30M
1.03%
Sole
10K
Shared
0.00
None
0.00
RAPID7 INC
SOLEShares10K
TypePRN
Market value$9.28M
1.03%
Sole
10K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
SPDR GOLD TRSOLE | GOLD SHS | 183.15K | SH | $44.34M 4.92% | 183.15K | 0.00 | 0.00 |
VANGUARD INDEX FDSSOLE | SP 500 ETF SHS | 64K | SH | $34.48M 3.83% | 64K | 0.00 | 0.00 |
AMAZON COM INCSOLE | COM | 83.32K | SH | $18.28M 2.03% | 83.32K | 0.00 | 0.00 |
DROPBOX INCSOLE | NOTE 3/0 | 15.86K | PRN | $15.72M 1.75% | 15.86K | 0.00 | 0.00 |
SOLARIS ENERGY INFRAS INCSOLE | COM CL A | 544.03K | SH | $15.66M 1.74% | 544.03K | 0.00 | 0.00 |
OPENDOOR TECHNOLSOLE | 0.25 8/15/2026 | 17.43K | PRN | $15.30M 1.70% | 17.43K | 0.00 | 0.00 |
ATLANTICA JERSEYSOLE | 4.00 7/15/2025 | 15.30K | PRN | $15.28M 1.70% | 15.30K | 0.00 | 0.00 |
PELOTON INTERACTIVE INCSOLE | NOTE 2/1 | 15.68K | PRN | $14.65M 1.63% | 15.68K | 0.00 | 0.00 |
AIR CANADASOLE | 4.00 7/1/2025 | 13.08K | PRN | $14.63M 1.62% | 13.08K | 0.00 | 0.00 |
NUTANIX INCSOLE | NOTE 0.25010/0 | 12K | PRN | $14.56M 1.62% | 12K | 0.00 | 0.00 |
ISHARES BITCOIN TRUST ETFSOLE | SHS BEN INT | 270K | SH | $14.32M 1.59% | 270K | 0.00 | 0.00 |
VIRGIN GALACTICSOLE | 2.50 01/02/2027 | 28.50K | PRN | $12.49M 1.39% | 28.50K | 0.00 | 0.00 |
KAR AUCTIONSOLE | 5.125 6/1/2025 | 12.49K | PRN | $12.45M 1.38% | 12.49K | 0.00 | 0.00 |
ISHARES GOLD TRSOLE | ISHARES NEW | 250K | SH | $12.38M 1.37% | 250K | 0.00 | 0.00 |
ENVESTNET INCSOLE | 0.75 8/15/2025 | 12K | PRN | $11.97M 1.33% | 12K | 0.00 | 0.00 |
SPHERE ENTERTAINMENT COSOLE | NOTE 3.50012/0 | 8.50K | PRN | $11.64M 1.29% | 8.50K | 0.00 | 0.00 |
VERMILION ENERGY TRUSTSOLE | 5.625 15/03/2025 144A | 11.56K | PRN | $11.54M 1.28% | 11.56K | 0.00 | 0.00 |
MARA HOLDINGSSOLE | 0 01/03/2030 | 12.50K | PRN | $10.87M 1.21% | 12.50K | 0.00 | 0.00 |
TRIPADVISOR INCSOLE | NOTE 0.250 4/0 | 11.50K | PRN | $10.74M 1.19% | 11.50K | 0.00 | 0.00 |
ALPHABET INCSOLE | CAP STK CL C | 52.05K | SH | $9.91M 1.10% | 52.05K | 0.00 | 0.00 |
WINNEBAGO INDUSOLE | 3.25 15/01/2030 | 10.93K | PRN | $9.85M 1.09% | 10.93K | 0.00 | 0.00 |
MICROSTRATEGYSOLE | 0 01/12/2029 | 12K | PRN | $9.71M 1.08% | 12K | 0.00 | 0.00 |
AKAMAI TECHNOLOGIES INCSOLE | NOTE 0.375 9/0 | 9.50K | PRN | $9.55M 1.06% | 9.50K | 0.00 | 0.00 |
JETBLUE AIRWAYS CORPSOLE | NOTE 0.500 4/0 | 10K | PRN | $9.30M 1.03% | 10K | 0.00 | 0.00 |
RAPID7 INCSOLE | NOTE 0.250 3/1 | 10K | PRN | $9.28M 1.03% | 10K | 0.00 | 0.00 |
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