K2 PRINCIPAL FUND, L.P. Q1 2025 Filing
Filed May 15, 2025
Portfolio Value
$788.2B
Holdings
297
Report Date
Q1 2025
Filing Type
13F-HR
All Holdings (297 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | GQ9SPDR GOLD TR | 167,746 | $48.3B | 6.13% | Put |
| 2 | PTON 0 02/15/26PELOTON INTERACTIVE INC | 15,679 | $14.9B | 1.89% | |
| 3 | NTNX 0.25 10/01/27NUTANIX INC | 11,000 | $14.7B | 1.86% | |
| 4 | GOOGALPHABET INC | 92,000 | $14.4B | 1.82% | Call |
| 5 | IBITISHARES BITCOIN TRUST ETF | 305,000 | $14.3B | 1.81% | Put |
| 6 | VOOVANGUARD INDEX FDS | 27,500 | $14.1B | 1.79% | Put |
| 7 | OPEN 0.25 08/15/26OPENDOOR TECHNOL | 15,429 | $13.7B | 1.74% | |
| 8 | DBX 0 03/01/26DROPBOX INC | 13,859 | $13.7B | 1.74% | |
| 9 | SPCE 2.5 02/01/27VIRGIN GALACTIC | 33,000 | $13.5B | 1.72% | |
| 10 | TRIP 0.25 04/01/26TRIPADVISOR INC | 14,000 | $13.3B | 1.69% | |
| 11 | ACACN 4 07/01/25AIR CANADA | 13,230 | $12.7B | 1.61% | |
| 12 | —KAR AUCTION | 12,487 | $12.5B | 1.58% | |
| 13 | —HENNESSY CAP INVT CORP VII | 1,049,683 | $10.4B | 1.32% | |
| 14 | SPHR 3.5 12/01/28SPHERE ENTERTAINMENT CO | 8,500 | $10.3B | 1.30% | |
| 15 | STRCNA 6.875 08/01/26 144ASTRATHCONA RESOU | 10,000 | $10.0B | 1.27% | |
| 16 | —MICROSTRATEGY | 12,000 | $9.7B | 1.23% | |
| 17 | TLNTALEN ENERGY CORP | 48,207 | $9.6B | 1.22% | Put |
| 18 | XIFR 2.5 06/15/26NEXTERA ENGY PTR | 10,000 | $9.6B | 1.21% | |
| 19 | JBLU 0.5 04/01/26JETBLUE AIRWAYS CORP | 10,000 | $9.4B | 1.20% | |
| 20 | UPST 0.25 08/15/26UPSTART HLDGS INC | 10,000 | $9.3B | 1.18% | |
| 21 | RPD 0.25 03/15/27RAPID7 INC | 10,000 | $9.2B | 1.16% | |
| 22 | NICEIT 0 09/15/25NICE LTD | 9,321 | $9.1B | 1.15% | |
| 23 | —MARA HOLDINGS | 12,500 | $9.0B | 1.14% | |
| 24 | AGCN 0.375 01/15/27FIRST MAJESTIC SILVER CORP | 9,500 | $8.9B | 1.13% | |
| 25 | IIPR 5.5 05/25/26 *IIP OP PRTNRSHP | 9,082 | $8.9B | 1.13% | |
| 26 | BBCN 3 02/15/29BLACKBERRY LTD | 7,000 | $8.8B | 1.12% | |
| 27 | FSLY 0 03/15/26FASTLY INC | 9,249 | $8.8B | 1.11% | |
| 28 | LCID 1.25 12/15/26LUCID GROUP | 10,000 | $8.0B | 1.01% | |
| 29 | ACCD 0.5 04/01/26ACCOLADE INC | 8,000 | $7.9B | 1.00% | |
| 30 | —CEC ENTERTAIN | 7,961 | $7.9B | 1.00% | |
| 31 | WT 3.25 06/15/26WISDOMTREE INC | 7,344 | $7.6B | 0.97% | |
| 32 | GFR 12 10/01/28 144AGREENFIRE RESOUR | 7,000 | $7.4B | 0.94% | |
| 33 | —HE EQUIPMENT | 7,230 | $7.2B | 0.92% | |
| 34 | SEISOLARIS ENERGY INFRAS INC | 331,039 | $7.2B | 0.91% | Put |
| 35 | SNAP 0.25 05/01/25SNAP INC | 7,100 | $7.1B | 0.90% | |
| 36 | ASTS 4.25 03/01/32AST SPACEMOBILE | 6,000 | $7.1B | 0.90% | |
| 37 | LITE 1.5 12/15/29LUMENTUM HLDGS INC | 6,000 | $7.0B | 0.89% | |
| 38 | ABEGET 9.75 03/01/27 144AGETTY IMAGES INC | 7,000 | $7.0B | 0.89% | |
| 39 | CENX 2.75 05/01/28CENTURY ALUM CO | 5,750 | $6.9B | 0.88% | |
| 40 | FSLRFIRST SOLAR INC | 54,104 | $6.8B | 0.87% | Call |
| 41 | AMC 6 04/30/30 144AMUVICO LLC | 7,158 | $6.8B | 0.86% | |
| 42 | COINCOINBASE GLOBAL | 7,000 | $6.5B | 0.83% | |
| 43 | AAOI 2.75 01/15/30APPLIED OPTOELECTRONICS INC | 8,000 | $6.3B | 0.81% | |
| 44 | SABHLD 4 04/15/25SABRE GLBL INC | 6,309 | $6.3B | 0.80% | |
| 45 | SPRYARS PHARMACEUTICALS INC | 497,355 | $6.3B | 0.79% | Call |
| 46 | CORZ 0 06/15/31CORE SCIENTIFIC | 7,500 | $6.2B | 0.79% | |
| 47 | PENN 2.75 05/15/26PENN ENTERTAINMENT INC | 6,000 | $6.2B | 0.79% | |
| 48 | WTWISDOMTREE INC | 6,000 | $6.0B | 0.77% | |
| 49 | HESHESS CORP | 36,782 | $5.9B | 0.75% | |
| 50 | BL 0 03/15/26BLACKLINE INC | 6,000 | $5.7B | 0.73% | |
| 51 | PAR 1.5 10/15/27PAR TECHNOLOGY CORP | 5,000 | $5.4B | 0.68% | |
| 52 | SLVISHARES SILVER TR | 172,700 | $5.4B | 0.68% | Put |
| 53 | ARKKARK ETF TR | 110,000 | $5.2B | 0.66% | Put |
| 54 | ON 0 05/01/27ON SEMICONDUCTOR CORP | 5,000 | $5.2B | 0.66% | |
| 55 | —IRIS ENERGY LTD | 7,000 | $5.1B | 0.65% | |
| 56 | AAL 6.5 07/01/25AMERICAN AIRLINES GROUP INC | 5,000 | $5.0B | 0.64% | |
| 57 | FNVFRANCO NEV CORP | 29,500 | $4.6B | 0.59% | Call |
| 58 | WULF 2.75 02/01/30TERAWULF INC | 6,500 | $4.5B | 0.58% | |
| 59 | GLXYLP 2.5 12/01/29GALAXY DIG HO LP | 5,500 | $4.5B | 0.57% | |
| 60 | INFN 3.75 08/01/28INFINERA CORP | 3,500 | $4.5B | 0.57% | |
| 61 | IONQIONQ INC | 200,000 | $4.4B | 0.56% | Put |
| 62 | GPRO 1.25 11/15/25GOPRO INC | 5,000 | $4.4B | 0.56% | |
| 63 | NLOPNET LEASE OFFICE PROPERTIES | 140,000 | $4.4B | 0.56% | |
| 64 | LARCN 1.75 01/15/27LITHIUM ARGENTINA AG | 5,095 | $4.2B | 0.53% | |
| 65 | AEIS 2.5 09/15/28ADVANCED ENERGY INDS | 4,000 | $4.1B | 0.52% | |
| 66 | WLACWILLOW LANE ACQUISITION CORP | 407,894 | $4.1B | 0.52% | |
| 67 | MARAMARATHON DIGITAL | 5,000 | $4.1B | 0.52% | |
| 68 | LTRPA 0.5 06/30/51LIB TRIP ADV HOL | 4,000 | $4.0B | 0.51% | |
| 69 | SAVE 11 03/12/30 144ASPIRIT LOYALTY | 4,197 | $3.9B | 0.49% | |
| 70 | MSTR 0 03/01/30MICROSTRATEGY | 4,000 | $3.8B | 0.49% | |
| 71 | CCIICOHEN CIRCLE ACQUISITION COR | 333,306 | $3.7B | 0.47% | |
| 72 | UPWK 0.25 08/15/26UPWORK INC | 4,000 | $3.7B | 0.47% | |
| 73 | PRO 2.25 09/15/27PROS HOLDINGS INC | 4,000 | $3.7B | 0.47% | |
| 74 | CEPFCANTOR EQUITY PARTNERS I INC | 361,517 | $3.7B | 0.47% | |
| 75 | RACRITHM ACQUISITION CORP | 350,000 | $3.5B | 0.45% | |
| 76 | IAUCN 8 02/22/27I-80 GOLD CORP | 4,000 | $3.4B | 0.43% | |
| 77 | SVCCUSTELLAR V CAP CORP | 339,920 | $3.4B | 0.43% | |
| 78 | DOOBRP INC | 100,000 | $3.4B | 0.43% | Put |
| 79 | BEAGBOLD EAGLE ACQUISITION CORP | 330,416 | $3.4B | 0.43% | |
| 80 | —NABORS ENERGY TRANSITION COR | 300,000 | $3.3B | 0.42% | |
| 81 | ATIIARCHIMEDES TECH SPAC PARTNER | 319,790 | $3.2B | 0.41% | |
| 82 | CIENCIENA CORP | 53,013 | $3.2B | 0.41% | Call |
| 83 | SRGSERITAGE GROWTH PPTYS | 991,196 | $3.2B | 0.41% | |
| 84 | CORZ 3 09/01/29CORE SCIENTIFIC | 3,000 | $3.2B | 0.40% | |
| 85 | IJRISHARES TR | 30,000 | $3.1B | 0.40% | Put |
| 86 | NHICUNEWHOLD INVT CORP III | 311,335 | $3.1B | 0.40% | |
| 87 | OMCOMNICOM GROUP INC | 37,000 | $3.1B | 0.39% | Put |
| 88 | BTOCN 2.75 02/01/30B2GOLD CORP | 2,500 | $2.9B | 0.37% | |
| 89 | SSRMCN 2.5 04/01/39SSR MINING IN | 2,888 | $2.9B | 0.37% | |
| 90 | PDSPRECISION DRILLING CORP | 61,446 | $2.9B | 0.36% | |
| 91 | LITE 0.5 06/15/28LUMENTUM HLDGS INC | 3,000 | $2.8B | 0.35% | |
| 92 | BTDR 5.25 12/01/29BITDEER TECHNO | 3,000 | $2.8B | 0.35% | |
| 93 | AMZNAMAZON COM INC | 14,372 | $2.7B | 0.35% | |
| 94 | HLTHILTON WORLDWIDE HLDGS INC | 12,000 | $2.7B | 0.35% | Call |
| 95 | FYBRFRONTIER COMMUNICATIONS PARE | 71,074 | $2.5B | 0.32% | |
| 96 | LOBLIVE OAK ACQUISITION CORP V | 250,000 | $2.5B | 0.32% | |
| 97 | UBERUBER TECHNOLOGIES INC | 34,430 | $2.5B | 0.32% | |
| 98 | XIFR 0 11/15/25NEXTERA ENGY PTR | 2,500 | $2.4B | 0.31% | |
| 99 | WDCWESTERN DIGITAL CORP | 59,279 | $2.4B | 0.30% | |
| 100 | ABNBAIRBNB INC | 20,000 | $2.4B | 0.30% | Put |
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