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VOL. XII · NO. 117Established MMXIV · George Town, Grand CaymanAtlantic Edition · $4.50

The Cayman Journal

Finance · Business · Technology · Caribbean & Global Affairs
13F HOLDINGS REPORT

K2 PRINCIPAL FUND, L.P.

Quarter ended Q4 2024 · Filed February 14, 2025 · Accession 0001461790-25-000034

Total Value
$900.6M
Positions
304
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (304)

#IssuerTicker / CUSIPSharesValue% of Filing
1SPDR GOLD TRGLD172,000$41.6M4.62%
2VANGUARD INDEX FDS92290836345,500$24.5M2.72%
3DROPBOX INCDBX15,859$15.7M1.75%
4AMAZON COM INCAMZN70,000$15.4M1.71%
5OPENDOOR TECHNOLOPENZ17,429$15.3M1.70%
6ATLANTICA JERSEYALDA15,300$15.3M1.70%
7PELOTON INTERACTIVE INCPTON15,679$14.7M1.63%
8AIR CANADAAIIR13,080$14.6M1.62%
9NUTANIX INCNTNX12,000$14.6M1.62%
10ISHARES BITCOIN TRUST ETFIBIT270,000$14.3M1.59%
11VIRGIN GALACTICSPCE28,500$12.5M1.39%
12KAR AUCTION48238TAA712,487$12.5M1.38%
13ISHARES GOLD TRIAU250,000$12.4M1.37%
14ENVESTNET INC29404KAE612,000$12.0M1.33%
15SPHERE ENTERTAINMENT COSPHR8,500$11.6M1.29%
16VERMILION ENERGY TRUSTVET11,559$11.5M1.28%
17MARA HOLDINGSMARA12,500$10.9M1.21%
18TRIPADVISOR INCTRIP11,500$10.7M1.19%
19VANGUARD INDEX FDS92290836318,500$10.0M1.11%
20WINNEBAGO INDUWGO10,925$9.9M1.09%
21MICROSTRATEGY594972AR212,000$9.7M1.08%
22AKAMAI TECHNOLOGIES INCAKAM9,500$9.6M1.06%
23JETBLUE AIRWAYS CORPJBLU10,000$9.3M1.03%
24RAPID7 INCRPD10,000$9.3M1.03%
25WILLOW LANE ACQUISITION CORPWLACW933,888$9.2M1.03%
26REDDIT INCRDDT56,000$9.2M1.02%
27UPSTART HLDGS INCUPST10,000$9.1M1.01%
28NICE LTDNCSYF9,321$9.0M0.99%
29SOLARIS ENERGY INFRAS INCSEI308,235$8.9M0.98%
30IIP OP PRTNRSHP44988FAD29,082$8.8M0.97%
31BLACKBERRY LTDBB7,000$8.7M0.96%
32FASTLY INCFSLY9,249$8.6M0.96%
33FIRST MAJESTIC SILVER CORPAG9,500$8.6M0.95%
34DYNAMIX CORPETHMW869,912$8.5M0.95%
35LUMENTUM HLDGS INCLITE6,000$8.4M0.93%
36WISDOMTREE INCWT7,344$8.2M0.91%
37STRATHCONA RESOUSTHRF8,000$8.0M0.89%
38ALPHABET INCGOOG42,053$8.0M0.89%
39WESTERN DIGITAL CORPWDC6,000$8.0M0.88%
40GFL ENVIRON INCGFL8,000$7.9M0.88%
41LIFE TIME INC53190FAA37,718$7.7M0.86%
42RINGCENTRAL INCRNG7,799$7.7M0.86%
43INVESCO QQQ TRIVZ15,000$7.7M0.85%
44SPIRIT AIRLINES848577AB819,393$7.6M0.84%
45MOUNTAIN LAKE ACQUISITION COMLACU748,957$7.5M0.83%
46LUCID GROUPLCID9,000$7.1M0.79%
47SNAP INCSNAP7,100$7.0M0.77%
48STEEL DYNAMICS INCSTLD60,000$6.8M0.76%
49CENTURY ALUM COCENX5,750$6.8M0.76%
50SOLARIS ENERGY INFRAS INCSEI235,800$6.8M0.75%
51TRANSLATIONAL DEV ACQUISITIOG9008W121674,997$6.8M0.75%
52WISDOMTREE INCWT6,000$6.5M0.72%
53TERAWULF INCWULF6,500$6.3M0.70%
54SABRE GLBL INCSABR6,309$6.2M0.69%
55V F CORPVFC290,000$6.2M0.69%
56ISHARES TR46432F39630,000$6.2M0.69%
57TALEN ENERGY CORPTLN29,989$6.0M0.67%
58AMERICAN AIRLINES GROUP INCAAL5,000$5.9M0.65%
59ALBERTSONS COS INC013091103295,501$5.8M0.64%
60BLACKLINE INCBL6,000$5.6M0.63%
61COHEN CIRCLE ACQUISITION CORCOHN562,383$5.6M0.62%
62MUVICO LLC62844JAA65,158$5.5M0.61%
63MARATHON DIGITALMARA5,000$5.3M0.59%
64HESS CORPHESM39,382$5.2M0.58%
65PAR TECHNOLOGY CORPPAR71,441$5.2M0.58%
66BOLD EAGLE ACQUISITION CORPBEAGU521,524$5.1M0.57%
67CIENA CORPCIEN60,000$5.1M0.57%
68TECHTARGET INCTTGT5,000$5.0M0.55%
69RTX CORPORATIONRTX40,000$4.6M0.51%
70BITDEER TECHNOBTDR3,000$4.5M0.50%
71GOPRO INCGPRO5,000$4.5M0.50%
72ADVANCED ENERGY INDS007973AE04,000$4.4M0.48%
73LIVENT CORPLIVG3,000$4.4M0.48%
74COINBASE GLOBAL19260QAE74,000$4.3M0.48%
75LOWES COS INC54866110717,000$4.2M0.47%
76NET LEASE OFFICE PROPERTIESNLOP134,275$4.2M0.47%
77SERITAGE GROWTH PPTYS81752R1001,000,000$4.1M0.46%
78HASHICORP INC418100103120,114$4.1M0.46%
79INFINERA CORP45667GAG83,500$4.1M0.45%
80ROMAN DBDR ACQUISITION CORPDRDBW407,190$4.1M0.45%
81LITHIUM AMERICAS ARGENTINA CLAR5,095$3.9M0.44%
82LIB TRIP ADV HOL531465AA04,000$3.9M0.44%
83UPWORK INCUPWK4,000$3.7M0.41%
84CORE SCIENTIFIC INC NEW21874A114415,495$3.4M0.38%
85TAIWAN SEMICONDUCTOR MFG LTD87403910016,000$3.2M0.35%
86SPHERE ENTERTAINMENT COSPHR75,000$3.0M0.34%
87UNITED STATES STL CORP NEWUNTCW87,500$3.0M0.33%
88AMAZON COM INCAMZN13,321$2.9M0.32%
89LUMENTUM HLDGS INCLITE3,000$2.9M0.32%
90C H ROBINSON WORLDWIDE INCCHRW27,500$2.8M0.32%
91I-80 GOLD CORPIAUX-WT4,000$2.8M0.31%
92SSR MINING INSSRGF2,888$2.8M0.31%
93SPDR GOLD TRGLD11,145$2.7M0.30%
94IRIS ENERGY LTD46270CAA73,000$2.7M0.30%
95FACT II ACQUISITION CORPFACTW257,500$2.5M0.28%
96PAR TECHNOLOGY CORPPAR35,000$2.5M0.28%
97BARNES GROUP INC06780610953,330$2.5M0.28%
98FREEPORT-MCMORAN INCFCX65,000$2.5M0.27%
99FRONTIER COMMUNICATIONS PARE35909D10971,074$2.5M0.27%
100LOCKHEED MARTIN CORPLMT5,000$2.4M0.27%
101KYNDRYL HLDGS INCKD70,000$2.4M0.27%
102IONQ INCIONQ-WT79,438$2.4M0.27%
103NUVASIVE INCNU2,396$2.4M0.26%
104DISNEY WALT CO25468710621,254$2.4M0.26%
105ROYAL GOLD INCRGLD17,700$2.3M0.26%
106PRECISION DRILLING CORPPDS37,446$2.3M0.25%
107PALANTIR TECHNOLOGIES INCPLTR30,000$2.3M0.25%
108TPI COMPOSITES INCTPICQ9,000$2.2M0.25%
109SK GROWTH OPPORTUNITIES CORPG8192N103184,371$2.1M0.24%
110FRANCO NEV CORPFNV18,000$2.1M0.24%
111GALAXY DIG HO LP36317GAA42,000$2.0M0.22%
112OAKTREE ACQUISITION CORP IIIOACCW195,292$1.9M0.22%
113ALPHABET INCGOOG10,000$1.9M0.21%
114CO2 ENERGY TRANSITION CORPNOEMW190,000$1.9M0.21%
115TPI COMPOSITES INCTPICQ1,000,000$1.9M0.21%
116UBER TECHNOLOGIES INCUBER31,000$1.9M0.21%
117INSPIRE MED SYS INC45773010910,000$1.9M0.21%
118PERPETUA RESOURCES CORPPPTA170,000$1.8M0.20%
119SPDR SER TR78464A87020,000$1.8M0.20%
120CIENA CORPCIEN21,222$1.8M0.20%
121DOCUSIGN INCDOCU20,000$1.8M0.20%
122CAMECO CORPCCJ34,900$1.8M0.20%
123OLD DOMINION FREIGHT LINE INODFL10,000$1.8M0.20%
124MARA HOLDINGS INCMARA2,000$1.8M0.20%
125FIRST SOLAR INCFSLR10,000$1.8M0.20%
126MARVELL TECHNOLOGY INCMRVL15,946$1.8M0.20%
127EQV VENTURES ACQUISITION CORG3106N109174,421$1.7M0.19%
128GENIUS SPORTS LIMITEDGENI200,000$1.7M0.19%
129TRUMP MEDIA TECHNOLOGY GRODJTWW50,000$1.7M0.19%
130PEPSICO INCPEP10,000$1.5M0.17%
131BIOMARIN PHARMACEUTICAL INCBMRN23,000$1.5M0.17%
132ALGOMA STL GROUP INC015658115692,579$1.5M0.17%
133PROS HOLDINGS INC74346Y10368,000$1.5M0.17%
134MICROSTRATEGY594972AK71,000$1.5M0.17%
135TECNOGLASS INCTGLS18,038$1.4M0.16%
136ITEOS THERAPEUTICS INC46565G104184,500$1.4M0.16%
137TRANSALTA CORPTACPF100,000$1.4M0.16%
138TFI INTL INC87241L10910,449$1.4M0.16%
139ALBERTSONS COS INC01309110370,000$1.4M0.15%
140JACKSON ACQUISITION CO IIJACS-UN136,000$1.4M0.15%
141SERITAGE GROWTH PPTYS81752R100325,600$1.3M0.15%
142GENERAL DYNAMICS CORPGD5,000$1.3M0.15%
143MERCK CO INCMRK13,032$1.3M0.14%
144ETF SER SOLUTIONS26922A84250,000$1.3M0.14%
145TRANSDIGM GROUP INCTDG1,000$1.3M0.14%
146ARCHER DANIELS MIDLAND COADM25,000$1.3M0.14%
147BALLYS CORPORATIONBALL70,561$1.3M0.14%
148BROADCOM INCAVGO5,300$1.2M0.14%
149BROOKFIELD BUSINESS PARTNERSBBUC52,385$1.2M0.14%
150MODIVCARE60783XAA22,000$1.2M0.13%
151DOORDASH INCDASH7,000$1.2M0.13%
152BLACK SPADE ACQUISITION II CG1153L109116,892$1.2M0.13%
153FUTURETECH II ACQUISITION COFUTU105,296$1.2M0.13%
154SL GREEN RLTY CORP78440X88717,000$1.2M0.13%
155PLAYAGS INC72814N10499,918$1.2M0.13%
156KEYSIGHT TECHNOLOGIES INCKEYS7,000$1.1M0.12%
157V F CORPVFC50,000$1.1M0.12%
158ON SEMICONDUCTOR CORPON16,973$1.1M0.12%
159PLUM ACQUISITION CORP IIIG6329011194,362$1.0M0.12%
160PATRIA LATIN AMRCN OPPRNTY AG6945410986,862$1.0M0.11%
161TALEN ENERGY CORPTLN5,000$1.0M0.11%
162AIR TRANS SVCS GROUP INC00922RAD71,000$990,8000.11%
163GALAXY DIG HO LP36317GAB21,000$979,0600.11%
164SELECT SECTOR SPDR TR81369Y85210,000$968,1000.11%
165COLOMBIER ACQUISITION CORP ICLBR-WT80,745$948,7540.11%
166SMARTSHEET INC83200N10315,746$882,2480.10%
167MEDIFAST INCMED50,000$881,0000.10%
168NXP SEMICONDUCTORS N VNXPI4,020$835,5570.09%
169IONQ INCIONQ-WT20,000$835,4000.09%
170NEBIUS GROUP N.V.NBIS30,000$831,0000.09%
171MODIVCARE INC60783X10468,500$811,0400.09%
172STRONGHOLD DIGITAL MINING IN86337R202227,611$796,6380.09%
173KRATOS DEFENSE SEC SOLUTIO50077B20730,000$791,4000.09%
174BLEICHROEDER ACQUISITION CORG1169T10476,717$756,4300.08%
175WAYFAIR INCW17,000$753,4400.08%
176EQUINOX GOLD CORPEQX150,000$753,0000.08%
177CHURCHILL CAPITAL CORP IXCCIXW73,100$752,9300.08%
178CANNABIST COCBSTQ1,000$750,0000.08%
179CANNABIST COCBSTQ1,000$750,0000.08%
180NEXTRACKER INCNXT20,000$730,6000.08%
181FORWARD AIR CORPFWRD22,500$725,6250.08%
182PRECISION DRILLING CORPPDS11,000$671,7700.07%
183GATOS SILVER INC36803610945,409$634,8180.07%
184SABLE OFFSHORE CORPSOC26,631$609,8500.07%
185CORTEVA INCCTVA10,000$569,6000.06%
186TEMPUR SEALY INTL INCSGI10,000$566,9000.06%
187DISNEY WALT CO2546871065,000$556,7500.06%
188ARES ACQUISITION CORP IIG3303310450,000$549,0000.06%
189NEXTNAV INCNXNVW94,900$544,7260.06%
190SILVERCREST METALS INC82836310159,733$543,5700.06%
191WARRIOR MET COAL INCHCC10,000$542,4000.06%
192DMY SQUARED TECHNOLOGY GROUPDMYY50,000$527,5000.06%
193POLARIS INCPII9,000$518,5800.06%
194ISHARES TR4642874325,900$515,2470.06%
195TFI INTL INC87241L1093,800$513,3420.06%
196BRP INCDOO10,000$508,7000.06%
197CANADA GOOSE HLDGS INCGOOS50,000$501,5000.06%
198ALDEL FINL II INCG0155810849,297$488,5330.05%
199PELOTON INTERACTIVE INCPTON54,527$474,3850.05%
200CLEVELAND-CLIFFS INC NEWCLF50,000$470,0000.05%
201AST SPACEMOBILE INCASTS22,000$464,2000.05%
202SABLE OFFSHORE CORPSOC20,000$458,0000.05%
203VALE S AVALE50,000$443,5000.05%
204PEAKSTONE REALTY TRUSTPKST38,809$429,6160.05%
205HERBALIFE LTDHLF60,000$401,4000.04%
206NET POWER INCNPWR-WT36,037$381,6320.04%
207FREEPORT-MCMORAN INCFCX10,000$380,8000.04%
208USANA HEALTH SCIENCES INCUSNA10,000$358,9000.04%
209NETSTREIT CORPNTST25,000$353,7500.04%
210EQUINOX GOLD CORPEQX70,000$351,4000.04%
211SK GROWTH OPPORTUNITIES CORPG8192N111569,365$341,6190.04%
212NAVIENT CORPORATIONJSM25,000$332,2500.04%
213JOBY AVIATION INCJOBY-WT156,221$315,5660.04%
214ADAMS DIVERSIFIED EQUITY FD00621210415,478$312,6560.03%
215BIOTE CORPBTMD49,651$306,8430.03%
216BLACKROCK ENHANCD CAP INMBLK15,029$302,0830.03%
217FACT II ACQUISITION CORPFACTW30,000$297,0000.03%
218LYFT INCLYFT23,000$296,7000.03%
219ROYCE SMALL CAP TRUST INCRVT18,723$295,8230.03%
220VERSABANK NEWVBNK20,646$285,9470.03%
221ARS PHARMACEUTICALS INCSPRY27,000$284,8500.03%
222PROFOUND MED CORPPROF35,782$268,7230.03%
223GOLD ROYALTY CORPGROY-WT988,400$256,9840.03%
224CLEAN ENERGY FUELS CORPCLNE100,000$251,0000.03%
225REZOLVE AI LTDRZLVW131,250$250,6870.03%
226ASPEN TECHNOLOGY INC29109X1061,000$249,6300.03%
227BLACKROCK HEALTH SCIENCES TEBLK16,271$234,3020.03%
228BLACKROCK ENHANCED EQUITY DIBLK27,984$231,7080.03%
229COLOMBIER ACQUISITION CORP ICLBR-WT141,609$226,5740.03%
230SABA CAPITAL INCOME OPPORTBRW23,000$208,3800.02%
231SOLITARIO RESOURCES CORPXPL348,900$205,8510.02%
232EQV VENTURES ACQUISITION CORG3106N117542,657$195,3570.02%
233BLACKROCK ESG CAP ALLC TERMBLK11,382$186,6650.02%
234INFLECTION PT ACQUISITN CRPG4790U110372,529$182,5390.02%
235NUVEEN VRIABL RAT PFD INMNU10,000$182,3000.02%
236ABRDN GLOBAL INFRA INCOME FU00326W10610,000$175,3000.02%
237BLEICHROEDER ACQUISITION CORG1169T138998,900$169,8130.02%
238M3BRIGADE ACQUISITION V CORPG63212115830,242$149,4440.02%
239BLADE AIR MOBILITY INCSRTAW363,277$148,9440.02%
240ELLSWORTH GROWTH INCOME FD28907410615,193$147,2200.02%
241SPECIAL OPPORTUNITIES FD INC84741T10410,000$146,3000.02%
242INFINERA CORP45667G10320,441$134,2970.01%
243ZEO ENERGY CORPZEOWW1,295,598$129,5600.01%
244DYNAMIX CORPETHMW475,000$123,5000.01%
245DESTRA MULTI-ALTERNATIVE FD25065A50214,330$121,2320.01%
246BOLD EAGLE ACQUISITION CORPBEAGU527,033$115,9470.01%
247NET POWER INCNPWR-WT29,807$107,3050.01%
248BLACK SPADE ACQUISITION II CG1153L117262,382$104,9530.01%
249BAFFINLAND IRON MINES CORP056623AA9100$94,4070.01%
250ABACUS LIFE INC00258Y11287,357$91,7250.01%
251ALDEL FINL II INCG01558124300,000$90,0000.01%
252COHEN CIRCLE ACQUISITION CORCOHN197,609$88,9240.01%
253WILLOW LANE ACQUISITION CORPWLACW544,994$87,1990.01%
254NORTHERN DYNASTY MINERALS LT66510M204150,000$87,0000.01%
255ARES ACQUISITION CORP IIG33033120573,515$86,0270.01%
256HERAMBA ELEC PLCG4411J11463,631$82,7200.01%
257HELPORT AI LTDHPAIW29,152$81,0430.01%
258LAUNCH TWO ACQUISITION CORP.LPBBW426,958$76,8520.01%
259LAUNCH ONE ACQUISITION CORPLPAAW519,816$72,7740.01%
260VOYAGER ACQUISITION CORPG93A7H112521,200$62,5440.01%
261FACT II ACQUISITION CORPFACTW376,675$56,5010.01%
262MELAR ACQUISITION CORP. IMACIW454,151$54,4980.01%
263GALIANO GOLD INCGAU42,700$52,5210.01%
264NABORS ENERGY TRANSITION CORG6363K114294,946$47,1910.01%
265HCM II ACQUISITION CORPG43658122384,644$46,1570.01%
266LIONHEART HOLDINGSCUBWW413,314$45,4650.01%
267CHARLTON ARIA ACQUISITION COCHARU300,000$42,0000.00%
268CENTURION ACQUISITION CORPALFUW295,553$41,3770.00%
269LEGATO MERGER CORP IIILEGT-WT256,312$41,0100.00%
270SIM ACQUISITION CORP. ISIMAW406,721$40,6720.00%
271NEWBURY STR II ACQUISITION CG6439S117266,570$39,9860.00%
272VIVID SEATS INCSEATW110,490$39,7760.00%
273VEEA INCVEEAW228,890$36,6220.00%
274OAKTREE ACQUISITION CORP IIIOACCW39,058$34,3710.00%
275MURANO GLOBAL INVTS PLCG63369113141,784$31,1920.00%
276VINE HILL CAP INVT CORP.G93Y09115193,134$30,9010.00%
277SPARK I ACQUISITION CORPSPKLW266,020$26,6020.00%
278OAK WOODS ACQUISITION CORP67190B112501,040$25,0520.00%
279GCT SEMICONDUCTOR HLDG INCGCTS-WT183,091$23,8020.00%
280PLUM ACQUISITION CORP IIIPLMWF129,604$23,3290.00%
281BOLT PROJS HLDGS INC09769B115300,000$18,0000.00%
282SPRING VALLEY ACQUISTN CORPG83752116348,041$17,4020.00%
283GIGCAPITAL7 CORPGIGGW261,500$15,6900.00%
284ANDRETTI ACQUISITION CORP IIPOLEW111,237$15,5730.00%
285AGRICULTURE NAT SOL ACQ COG0131Y11854,900$14,8230.00%
286DT CLOUD STAR ACQUISITION CODTSQU99,000$13,8600.00%
287KEEN VISION ACQUISITION CORPKVACW224,607$11,2300.00%
288CSLM ACQUISITION CORPCMXHF133,900$10,7120.00%
289IB ACQUISITION CORPIBACR150,000$10,5000.00%
290AA MISSION ACQUISITION CORPYCY-WT125,000$8,7500.00%
291HERAMBA ELEC PLCG4411J106214,336$8,5730.00%
292ESH ACQUISITION CORPESHAR92,627$8,3360.00%
293XBP EUROPE HOLDINGS INCXBPEW178,872$7,1550.00%
294SPRING VALLEY ACQUISTN CORPG83752132100,000$7,0000.00%
295BOWEN ACQUISITION CORPG1272912829,596$5,9190.00%
296BANNIX ACQUISITION CORP066644113148,397$4,4520.00%
297GRAF GLOBAL CORPGRAF-WT32,657$4,2450.00%
298CHENGHE ACQUISITION II COCHECW105,037$4,2010.00%
299RF ACQUISITION CORP IIRFAIU50,000$3,0000.00%
300ALPHATIME ACQUISITION CORPG0223V121141,606$2,8320.00%
301FOUR LEAF ACQUISITION CORP35088F11555,548$2,7770.00%
302WINVEST ACQUISITION CORPWINVW257,731$2,5770.00%
303BYNORDIC ACQUISITION CORPBYNOW55,050$2,2020.00%
304HAYMAKER ACQUISITION CORP IVG4375F11612,500$1,7500.00%