K2 Principal Fund, L.P.
K2 Principal Fund, L.P., founded in 2000, is the flagship fund of K2 & Associates, a Toronto-based hedge fund and asset manager. The firm specializes in multi-strategy, event-driven investing with a focus on North American equities and debt, serving institutional and high net-worth investors. K2 & Associates employs approximately 11-50 people and is known for its active management approach and diverse investment strategies.
Investment Strategy
K2 Principal Fund, L.P. follows a multi-strategy, event-driven approach, investing mainly in North American equities and debt markets. The fund actively deploys tactics such as merger arbitrage, long/short equity, private equity investments, restructurings, and activist investing. It employs a range of hedging techniques, particularly through the extensive use of options, in order to manage and mitigate downside risk.
Top Holdings
Equity Positions (125)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
I IBIT | ISHARES BITCOIN TRUST ETF | 1.47% | $10.7M | 174,000 | $40.69 | $61.21 | +$118.3K |
F FSLR | FIRST SOLAR INC | 1.10% | $8.0M | 48,291 | $140.14 | $165.54 | +$2.4M |
M MAG | MAG SILVER CORP | 0.94% | $6.8M | 321,870 | $21.13 | $21.13 | +$6.8M |
C CORZ | CORE SCIENTIFIC INC NEW | 0.82% | $5.9M | 346,591 | $17.07 | $17.07 | +$5.9M |
S SPRY | ARS PHARMACEUTICALS INC | 0.76% | $5.5M | 317,126 | $12.58 | $17.45 | -$571.9K |
Options Positions (10)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
G GLD | SPDR GOLD TR | Bought | Call | $32.0M | 1,050 | $304.83 | $293.70 | +350 | +$11.8M |
B BTI | BRITISH AMERN TOB PLC | New | Call | $18.5M | 3,900 | $47.33 | $47.33 | +3,900 | +$18.5M |
H HYG | ISHARES TR | New | Put | $16.1M | 2,000 | $80.65 | $80.65 | +2,000 | +$16.1M |
I IBIT | ISHARES BITCOIN TRUST ETF | Bought | Put | $15.3M | 2,500 | $61.21 | $60.06 | +2,300 | +$14.4M |
S SLV | ISHARES SILVER TR | Bought | Call | $10.8M | 3,280 | $32.81 | $32.70 | +3,080 | +$10.1M |