K2 PRINCIPAL FUND, L.P.

Est. AUM

$1.43B

13F long equity, this entity only

Positions

487

Period

Mar 2026 (Q1)

SEC EDGAR

View filings ↗

Mar 2026 (Q1)

#	Issuer	Class	Value	Shares	% Portfolio	Discretion
1	SPDR GOLD TRCALL	GOLD SHS	$86.3M	200600	6.03%	SOLE
2	STATE STR SPDR SP 500 ETF TPUT	TR UNIT	$48.8M	75000	3.41%	SOLE
3	STATE STR SPDR SP 500 ETF TCALL	TR UNIT	$35.6M	54700	2.48%	SOLE
4	SPDR GOLD TRPUT	GOLD SHS	$31.4M	73000	2.19%	SOLE
5	ISHARES TRPUT	RUSSELL 2000 ETF	$21.1M	85000	1.47%	SOLE
6	AST SPACEMOBILE INC	2.375 10/15/32 CVT	$15.6M	10500	1.09%	SOLE
7	ISHARES SILVER TRCALL	ISHARES	$15.3M	224400	1.07%	SOLE
8	PAR TECHNOLOGY CORP	4.000 03/15/31 CVT	$15.0M	14500	1.05%	SOLE
9	SOLARIS ENERGY INFRAS INC	NOTE 0.25010/0	$15.0M	12000	1.05%	SOLE
10	GLOBAL X FDSPUT	GLOBAL X COPPER	$14.8M	194000	1.03%	SOLE
11	GAMESTOP CORP	04/01/30 CVT PUT	$14.4M	14000	1.01%	SOLE
12	GOLAR LNG LTD	2.750 12/15/30 CVT	$14.3M	12000	1.00%	SOLE
13	TRIPADVISOR INC	0.250 04/01/26 CVT	$14.0M	14000	0.98%	SOLE
14	VEECO INSTRS INC DEL	NOTE 2.875 6/0	$13.8M	9960	0.97%	SOLE
15	JETBLUE AIRWAYS CORP	0.500 04/01/26 CVT	$13.8M	13824	0.96%	SOLE
16	CLOUDFLARE INC	06/15/30 CVT	$13.6M	12000	0.95%	SOLE
17	VANECK ETF TRUSTPUT	JUNIOR GOLD MINE	$12.9M	107500	0.90%	SOLE
18	STRATEGY INC	NOTE 12/0	$12.6M	15000	0.88%	SOLE
19	KENNEDY-WILSON INC	4.750 02/01/30 '26	$12.3M	12201	0.86%	SOLE
20	FREEPORT MCMORAN INCPUT	CL B	$12.1M	206000	0.85%	SOLE
21	WIX LTD	09/15/30 CVT	$12.0M	14500	0.84%	SOLE
22	CERENCE INC	NOTE 1.500 7/0	$12.0M	13750	0.84%	SOLE
23	ISHARES TRPUT	IBOXX HI YD ETF	$11.9M	150000	0.83%	SOLE
24	LUCID GROUP INC	1.250 12/15/26 CVT	$11.8M	12500	0.82%	SOLE
25	DROPBOX INC	NOTE 3/0	$11.4M	12000	0.80%	SOLE
26	I-80 GOLD CORP	3.750 04/15/31 CVT	$11.2M	10000	0.78%	SOLE
27	MARA HOLDINGS INC	NOTE 3/0	$11.1M	12500	0.77%	SOLE
28	COINBASE GLOBAL INC	NOTE 0.250 4/0	$10.2M	11000	0.72%	SOLE
29	XPLR INFRASTRUCTURE LP	2.500 06/15/26 CVT	$9.9M	10000	0.69%	SOLE
30	SNAP INC	NOTE 0.750 8/0	$9.9M	10000	0.69%	SOLE
31	UPSTART HLDGS INC	NOTE 0.250 8/1	$9.8M	10000	0.68%	SOLE
32	UBER TECHNOLOGIES INC	NOTE 0.87512/0	$9.7M	8000	0.67%	SOLE
33	ETSY INC	1.000 06/15/30 CVT	$9.7M	10000	0.67%	SOLE
34	ADVANCED ENERGY INDS	NOTE 2.500 9/1	$9.6M	4000	0.67%	SOLE
35	ALPHABET INC	CAP STK CL C	$9.5M	33205	0.67%	SOLE
36	SUNRUN INC	NOTE 4.000 3/0	$9.5M	8000	0.66%	SOLE
37	RUBRIK INC	06/15/30 CVT	$9.5M	11000	0.66%	SOLE
38	WISDOMTREE INC	NOTE 3.250 8/1	$9.4M	7000	0.65%	SOLE
39	RAYONIER ADVANCED MATLS INCCALL	COM	$9.4M	845000	0.65%	SOLE
40	DENISON MINES CORP	4.250 09/15/31 CVT	$9.3M	6000	0.65%	SOLE
41	INVESCO QQQ TRPUT	UNIT SER 1	$9.2M	16000	0.64%	SOLE
42	BOX INC	NOTE 1.500 9/1	$9.2M	10000	0.64%	SOLE
43	BLACKSKY TECHNOLOGY INC	8.250 08/01/33 CVT PUT	$9.2M	7507	0.64%	SOLE
44	AKAMAI TECHNOLOGIES INC	NOTE 1.125 2/1	$9.1M	8000	0.64%	SOLE
45	MARRIOTT VACATIONS WORLDWIDE	NOTE 3.25012/1	$8.7M	9000	0.61%	SOLE
46	MARA HOLDINGS INC	NOTE 6/0	$8.2M	9000	0.58%	SOLE
47	SELECT SECTOR SPDR TRPUT	STATE STREET CON	$8.2M	100000	0.57%	SOLE
48	STRATEGY INC	NOTE 0.625 3/1	$8.1M	7000	0.57%	SOLE
49	BLACKBERRY LTD	NOTE 3.000 2/1	$8.1M	7000	0.56%	SOLE
50	COREWEAVE INC	1.750 12/01/31 CVT	$8.0M	8000	0.56%	SOLE

1–50 of 487

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Values in USD (reported in $thousands on 13F). Source: SEC EDGAR.