K2 PRINCIPAL FUND, L.P.

Q4 2025 13F-HR Holdings

Location
Toronto, A6
Holdings as of
12/31/2025
Date filed
2/13/2026
Form type
13F-HR
Num holdings
410
Total value ($000)
$1,241,205
Net value change ($000)
+9,757 (0.8%)
New positions
74
Sold out positions
38
Turnover %
75.6%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/13/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
BTI 5,349 154.2%
SUNC 5,179 NEW
BIP 4,339 NEW
NGD 4,194 NEW
ELE 4,120 NEW
ALUB 3,535 NEW
BEP 3,468 NEW
SOLS 3,391 NEW
ABVX 3,034 NEW
TLNC 3,030 NEW
Top Reduces (Value $000, Stocks/ETFs)
GLD -24,757 -100.0%
CORZ -11,986 -100.0%
SPRY -6,130 -98.1%
SLV -5,556 -89.4%
OPEN -4,779 -59.4%
TLNC -4,523 -100.0%
DMII -4,239 -100.0%
UBER -3,961 -100.0%
PTON -3,864 -100.0%
TIXT -3,611 -100.0%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 271,690 (21.9% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type