K2 PRINCIPAL FUND, L.P.

TORONTO, A6 · CIK 1461790 · 13F filing filed 2026-08-07

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

$1.1bn reported value +14.8% vs Q1 2026

416positions

15.2%in top 10

142 new 69 added 65 reduced 122 sold out vs Q1 2026

Options: 54 call positions ($167.3m notional), 20 put positions ($109.6m notional) – listed below, not included above.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	AAUC 8 3/4 09/07/28 FIXED INCOME · principal AAUC 8.75 09.07.28 · principal	AAUC 8.75 09.07.28	15,973	$26.2m2.41%	2.41%	New
2	PAR TECHNOLOGY CORP 4.000 03/15/31 CVT · principal PAR 4 03.15.31 · principal	PAR 4 03.15.31	13,900	$17.1m1.57%	1.57%	Reduced -600	-600 -4.1%
3	AVNET 1.750 09/01/30 CVT PUT · principal 1.750 09/01/30 CVT PUT · principal		12,000	$16.8m1.54%	1.54%	New
4	AST SPACEMOBILE INC 2.375 10/15/32 CVT · principal ASTS 2.375 10.15.32 · principal	ASTS 2.375 10.15.32	10,500	$16.7m1.54%	1.54%	Unchanged
5	CLOUDFLARE INC NOTE 6/1 · principal NET 0 06.15.30 · principal	NET 0 06.15.30	13,000	$16.5m1.52%	1.52%	New
6	STRATEGY INC NOTE 0.625% 9/1 · principal MSTR 0.625 09.15.28 · principal	MSTR 0.625 09.15.28	15,000	$15.4m1.42%	1.42%	New
7	ON SEMICONDUCTOR CORP NOTE 0.500% 3/0 · principal ON 0.5 03.01.29 · principal	ON 0.5 03.01.29	12,000	$14.5m1.33%	1.33%	New
8	WAYFAIR INC NOTE 3.250% 9/1 · principal W 3.25 09.15.27 · principal	W 3.25 09.15.27	9,349	$14.3m1.31%	1.31%	New
9	GAMESTOP CORP NOTE 4/0 · principal GME 0 04.01.30 · principal	GME 0 04.01.30	14,000	$14.3m1.31%	1.31%	New
10	PENNYMAC FINL SVCS INC NEW COM PFSI	PFSI	159,766	$13.9m1.28%	1.28%	Added +78.8k	+78,764 97.2%
11	GOLAR LNG LTD 2.750 12/15/30 CVT · principal 2.750 12/15/30 CVT · principal		12,000	$13.7m1.26%	1.26%	Unchanged
12	SOLARIS ENERGY INFRAS INC NOTE 0.250%10/0 · principal SEI 0.25 10.01.31 · principal	SEI 0.25 10.01.31	8,000	$13.0m1.19%	1.19%	Reduced -4.0k	-4,000 -33.3%
13	MARA HOLDINGS INC NOTE 3/0 · principal MARA 0 03.01.30 · principal	MARA 0 03.01.30	12,500	$12.6m1.15%	1.15%	Unchanged
14	I-80 GOLD CORP 3.750 04/15/31 CVT · principal IAUCN 3.75 04.15.31 · principal	IAUCN 3.75 04.15.31	11,000	$12.2m1.13%	1.13%	Added +1.0k	+1,000 10.0%
15	RUBRIK INC. NOTE 6/1 · principal RBRK 0 06.15.30 · principal	RBRK 0 06.15.30	12,000	$12.2m1.13%	1.13%	New
16	DROPBOX INC NOTE 3/0 · principal DBX 0 03.01.28 · principal	DBX 0 03.01.28	12,000	$12.1m1.11%	1.11%	Unchanged
17	VIRGIN GALACTIC HOLDINGS INC 2.50 01/02/2027 · principal SPCE 2.5 02.01.27 · principal	SPCE 2.5 02.01.27	12,500	$12.0m1.10%	1.10%	New
18	LUCID GROUP INC 1.25 12/15/2026 · principal LCID 1.25 12.15.26 · principal	LCID 1.25 12.15.26	12,500	$12.0m1.10%	1.10%	Unchanged
19	COREWEAVE INC 1.750 12/01/31 CVT · principal CRWV 1.75 12.01.31 · principal	CRWV 1.75 12.01.31	10,000	$11.9m1.10%	1.10%	Added +2.0k	+2,000 25.0%
20	SUNRUN INC NOTE 4.000% 3/0 · principal RUN 4 03.01.30 · principal	RUN 4 03.01.30	10,000	$11.9m1.09%	1.09%	Added +2.0k	+2,000 25.0%
21	SPDR GOLD TR GOLD SHS GLD	GLD	32,180	$11.9m1.09%	1.09%	Added +17.6k	+17,577 120.4%
22	FRESHPET INC NOTE 3.000% 4/0 · principal FRPT 3 04.01.28 · principal	FRPT 3 04.01.28	10,000	$11.7m1.07%	1.07%	Added +3.9k	+3,860 62.9%
23	ETSY INC NOTE 1.000% 6/1 · principal ETSY 1 06.15.30 · principal	ETSY 1 06.15.30	10,000	$11.6m1.07%	1.07%	New
24	CERENCE INC NOTE 1.500% 7/0 · principal CRNC 1.5 07.01.28 · principal	CRNC 1.5 07.01.28	12,000	$11.1m1.02%	1.02%	Reduced -1.8k	-1,750 -12.7%
25	PEB 1 5/8 01/15/30 1.625 01/15/30 CVT · principal PEB 1.625 01.15.30 · principal	PEB 1.625 01.15.30	8,000	$10.8m0.99%	0.99%	Added +2.0k	+2,000 33.3%
26	AKAMAI TECHNOLOGIES INC NOTE 1.125% 2/1 · principal AKAM 1.125 02.15.29 · principal	AKAM 1.125 02.15.29	9,000	$10.7m0.99%	0.99%	Added +1.0k	+1,000 12.5%
27	SOUTHERN CO NOTE 3.250% 6/1 · principal SO 3.25 06.15.28 · principal	SO 3.25 06.15.28	10,000	$10.1m0.93%	0.93%	New
28	SNAP INC NOTE 0.750% 8/0 · principal SNAP 0.75 08.01.26 · principal	SNAP 0.75 08.01.26	10,000	$10.0m0.92%	0.92%	Unchanged
29	WIX LTD 09/15/30 CVT · principal 09/15/30 CVT · principal		13,000	$9.9m0.91%	0.91%	Reduced -1.5k	-1,500 -10.3%
30	LIVE NATION ENTERTAINMENT 2.875 10/15/31 CVT · principal 2.875 10/15/31 CVT · principal		9,000	$9.9m0.91%	0.91%	New
31	UPSTART HLDGS INC NOTE 0.250% 8/1 · principal UPST 0.25 08.15.26 · principal	UPST 0.25 08.15.26	10,000	$9.9m0.91%	0.91%	Unchanged
32	COINBASE GLOBAL INC NOTE 0.250% 4/0 · principal COIN 0.25 04.01.30 · principal	COIN 0.25 04.01.30	11,000	$9.9m0.91%	0.91%	Unchanged
33	BOX INC NOTE 1.500% 9/1 · principal BOX 1.5 09.15.29 · principal	BOX 1.5 09.15.29	10,000	$9.8m0.90%	0.90%	Unchanged
34	BLACKSKY TECHNOLOGY INC 8.250 08/01/33 CVT PUT · principal BKSY 8.25 08.01.33 · principal	BKSY 8.25 08.01.33	7,507	$9.7m0.89%	0.89%	Unchanged
35	UBER TECHNOLOGIES INC NOTE 0.875%12/0 · principal UBER 0.875 12.01.28 2028 · principal	UBER 0.875 12.01.28 2028	8,000	$9.6m0.88%	0.88%	Unchanged
36	BITDEER TECHNO 5.25 01/12/2029 · principal BTDR 5.25 12.01.29 · principal	BTDR 5.25 12.01.29	7,000	$9.6m0.88%	0.88%	Unchanged
37	ALPHABET INC CAP STK CL C GOOG	GOOG	26,773	$9.5m0.87%	0.87%	Reduced -6.4k	-6,432 -19.4%
38	T1 ENERGY INC NOTE 4.000% 4/1 · principal TE 4 04.15.31 · principal	TE 4 04.15.31	5,500	$9.4m0.87%	0.87%	New
39	MUVICO LLC FIXED INCOME · principal AMC 6 04.30.30 144A · principal	AMC 6 04.30.30 144A	11,345	$9.2m0.84%	0.84%	Reduced -564	-564 -4.7%
40	VIRGIN GALACTIC 9.800 12/31/28 '26 · principal SPCE 9.8 12.31.28 QIB · principal	SPCE 9.8 12.31.28 QIB	10,184	$9.1m0.83%	0.83%	New
41	T1 ENERGY INC NOTE 5.250%12/0 · principal TE 5.25 12.01.30 · principal	TE 5.25 12.01.30	5,250	$9.0m0.82%	0.82%	Added +2.8k	+2,750 110.0%
42	MARRIOTT VACATIONS WORLDWIDE NOTE 3.250%12/1 · principal VAC 3.25 12.15.27 · principal	VAC 3.25 12.15.27	9,000	$8.9m0.82%	0.82%	Unchanged
43	MARA HOLDINGS INC NOTE 6/0 · principal MARA 0 06.01.31 · principal	MARA 0 06.01.31	9,000	$8.7m0.80%	0.80%	Unchanged
44	DENISON MINES CORP 4.250 09/15/31 CVT · principal 4.250 09/15/31 CVT · principal		6,000	$8.5m0.78%	0.78%	Unchanged
45	DATADOG INC NOTE 12/0 · principal DDOG 0 12.01.29 · principal	DDOG 0 12.01.29	6,000	$8.5m0.78%	0.78%	Added +3.0k	+3,000 100.0%
46	SUNOCOCORP LLC COM SHS LLC SUNC	SUNC	122,821	$8.3m0.76%	0.76%	Added +17.7k	+17,731 16.9%
47	GALAXY DIG HO LP 2.50 01/12/2029 · principal GLXYLP 2.5 12.01.29 · principal	GLXYLP 2.5 12.01.29	5,500	$8.1m0.75%	0.75%	Unchanged
48	OPENDOOR TECHNOL 0.25 8/15/2026 · principal OPEN 0.25 08.15.26 · principal	OPEN 0.25 08.15.26	8,150	$8.1m0.74%	0.74%	Added +600	+600 8.0%
49	FLUOR CORP NOTE 1.125% 8/1 · principal FLR 1.125 08.15.29 · principal	FLR 1.125 08.15.29	6,000	$7.9m0.73%	0.73%	Unchanged
50	THE REALREAL INC NOTE 1.000% 3/0 · principal REAL 1 03.01.28 · principal	REAL 1 03.01.28	8,500	$7.6m0.70%	0.70%	Unchanged
51	COMPASS 0.250 04/15/31 CVT · principal COMP 0.25 04.15.31 · principal	COMP 0.25 04.15.31	7,000	$7.6m0.70%	0.70%	New
52	ARRAY TECHNOLOGIES INC 2.875 07/01/31 CVT · principal 2.875 07/01/31 CVT · principal		6,000	$7.5m0.69%	0.69%	Added +3.0k	+3,000 100.0%
53	PEBBLEBROOK HOTEL TR NOTE 1.750%12/1 · principal PEB 1.75 12.15.26 · principal	PEB 1.75 12.15.26	7,473	$7.4m0.68%	0.68%	Unchanged
54	VIZSLA SILVER CORP 5.000 01/15/31 CVT · principal VZLACN 5 01.15.31 · principal	VZLACN 5 01.15.31	7,210	$7.3m0.67%	0.67%	Unchanged
55	Clear Channel Outdoor Holdings Inc CORPORATE BOND - DOMESTIC · principal CCO 7.5 06.01.29 144A · principal	CCO 7.5 06.01.29 144A	7,275	$7.3m0.67%	0.67%	Unchanged
56	STRATEGY INC NOTE 0.625% 3/1 · principal MSTR 0.625 03.15.30 · principal	MSTR 0.625 03.15.30	7,000	$7.2m0.66%	0.66%	Unchanged
57	STRATEGY INC NOTE 3/0 · principal MSTR 0 03.01.30 · principal	MSTR 0 03.01.30	8,000	$7.1m0.65%	0.65%	Unchanged
58	AMERICAN AXLE & MFG HLDGS IN COM DCH	DCH	1,297,209	$7.0m0.65%	0.65%	Added +112.3k	+112,291 9.5%
59	BORGWARNER INC COM BWA	BWA	101,430	$6.7m0.62%	0.62%	New
60	COLLIERS INTL GROUP INC SUB VTG SHS CIGI	CIGI	69,557	$6.5m0.60%	0.60%	New
61	PELOTON INTERACTIVE INC NOTE 5.500%12/0 · principal PTON 5.5 12.01.29 · principal	PTON 5.5 12.01.29	4,000	$6.5m0.59%	0.59%	Unchanged
62	RIOT PLATFORMS INC NOTE 0.750% 1/1 · principal RIOT 0.75 01.15.30 · principal	RIOT 0.75 01.15.30	3,000	$6.0m0.55%	0.55%	Unchanged
63	GUIDEWIRE SOFTWARE INC NOTE 1.250%11/0 · principal GWRE 1.25 11.01.29 · principal	GWRE 1.25 11.01.29	6,000	$5.8m0.53%	0.53%	Unchanged
64	APPLOVIN CORP COM CL A APP	APP	11,079	$5.7m0.52%	0.52%	Added +1.0k	+1,011 10.0%
65	ARCHIMEDES TECH SPAC PARTNER ORD SHS ORD SHS		526,227	$5.7m0.52%	0.52%	Added +438.3k	+438,327 498.7%
66	MARATHON DIGITAL HOLDINGS IN NOTE 1.000%12/0 · principal MARA 1 12.01.26 · principal	MARA 1 12.01.26	6,000	$5.6m0.52%	0.52%	Unchanged
67	WOLFSPEED 13.875 06/23/30 '27 · principal WOLF 15.875 06.23.30 144A · principal	WOLF 15.875 06.23.30 144A	5,051	$5.6m0.52%	0.52%	New
68	ARRAY TECHNOLOGIES INC NOTE 1.000%12/0 · principal ARRY 1 12.01.28 · principal	ARRY 1 12.01.28	6,000	$5.6m0.51%	0.51%	Added +3.0k	+3,000 100.0%
69	FIRST SOLAR INC COM FSLR	FSLR	23,500	$5.5m0.51%	0.51%	Reduced -9.0k	-9,000 -27.7%
70	COHEN CIRCLE ACQUISIT CORP I SHS CL A CCII	CCII	530,739	$5.5m0.50%	0.50%	Added +131.5k	+131,539 33.0%
71	INNOVATIVE INDUSTRIAL PROPERTIES 6.000 06/15/29 CVT · principal IIPR 6 06.15.29 · principal	IIPR 6 06.15.29	5,000	$5.3m0.49%	0.49%	New
72	PLUG 6 3/4 12/01/33 FIXED INCOME · principal PLUG 6.75 12.01.33 · principal	PLUG 6.75 12.01.33	3,875	$5.2m0.48%	0.48%	Unchanged
73	RAYONIER ADVANCED MATLS INC COM RYAM	RYAM	615,738	$4.8m0.44%	0.44%	Added +295.3k	+295,338 92.2%
74	TRUMP MEDIA AND TECH 05/29/28 CVT PUT · principal DJT 0 05.29.28 · principal	DJT 0 05.29.28	5,000	$4.8m0.44%	0.44%	New
75	NORFOLK SOUTHN CORP COM NSC	NSC	14,991	$4.7m0.43%	0.43%	Added +900	+900 6.4%
76	REDDIT INC CL A RDDT	RDDT	26,913	$4.7m0.43%	0.43%	Added +9.3k	+9,307 52.9%
77	SKYWATER TECHNOLOGY INC COM COM		130,705	$4.6m0.42%	0.42%	Added +76.1k	+76,052 139.2%
78	WILLOW LANE ACQUISITION CRP USD CL A ORD SHS WLII	WLII	439,328	$4.5m0.41%	0.41%	New
79	KENVUE INC COM KVUE	KVUE	229,093	$4.4m0.40%	0.40%	New
80	MICROSOFT CORP COM MSFT	MSFT	11,638	$4.3m0.40%	0.40%	Added +5.6k	+5,638 94.0%
81	RE MAX HLDGS INC CL A RMAX	RMAX	434,766	$4.3m0.39%	0.39%	New
82	NORTHERN OIL & GAS INC NOTE 3.625% 4/1 · principal NOG 3.625 04.15.29 · principal	NOG 3.625 04.15.29	4,425	$4.2m0.39%	0.39%	New
83	PAPA JOHN'S INTERNATIONA 3.875 09/15/29 '26 · principal PZZA 3.875 09.15.29 144A · principal	PZZA 3.875 09.15.29 144A	4,250	$4.1m0.38%	0.38%	Added +2.2k	+2,250 112.5%
84	ISHARES BITCOIN TRUST ETF SHS BEN INT IBIT	IBIT	122,542	$4.1m0.37%	0.37%	Reduced -11.3k	-11,280 -8.4%
85	GREENFIRE RES LTD NEW COM SHS GFR	GFR	720,740	$4.1m0.37%	0.37%	Added +64.3k	+64,300 9.8%
86	COLUMBUS CIRCLE CAP CORP II USD CL A ORD SHS IPXG	IPXG	400,000	$4.1m0.37%	0.37%	Added +62.6k	+62,585 18.6%
87	ARES ACQUISITION CORP III UNIT 99/99/9999 AAC.U	AAC.U	400,000	$4.0m0.37%	0.37%	New
88	PAPA JOHNS INTL INC COM PZZA	PZZA	109,300	$4.0m0.37%	0.37%	Added +36.1k	+36,100 49.3%
89	UPWORK INC NOTE 0.250% 8/1 · principal UPWK 0.25 08.15.26 · principal	UPWK 0.25 08.15.26	4,000	$4.0m0.37%	0.37%	Unchanged
90	CLEANSPARK INC NOTE 6/1 · principal CLSK 0 06.15.30 · principal	CLSK 0 06.15.30	3,000	$3.9m0.36%	0.36%	Unchanged
91	OAKTREE ACQUISITION CORP III SHS CL A OACC	OACC	365,900	$3.9m0.36%	0.36%	Added +170.6k	+170,608 87.4%
92	EVOLV TECHNOLOGIES HLDNGS IN COM CL A EVLV	EVLV	663,392	$3.8m0.35%	0.35%	New
93	LIBERTY LIVE HOLDINGS INC COM SER A LLYVA	LLYVA	37,843	$3.8m0.35%	0.35%	New
94	GUARDANT HEALTH INC NOTE 11/1 · principal GH 0 11.15.27 · principal	GH 0 11.15.27	3,000	$3.7m0.34%	0.34%	Unchanged
95	XPONENTIAL FITNESS INC COM CL A XPOF	XPOF	537,923	$3.7m0.34%	0.34%	Reduced -62.1k	-62,077 -10.3%
96	IMAX CORP COM IMAX	IMAX	93,100	$3.7m0.34%	0.34%	New
97	METALLA RTY & STREAMING LTD COM NEW MTA	MTA	479,760	$3.7m0.34%	0.34%	Added +398.0k	+398,000 486.8%
98	UNIQURE NV SHS QURE	QURE	78,601	$3.6m0.33%	0.33%	Reduced -40.0k	-39,999 -33.7%
99	WISDOMTREE 4.625 08/15/30 CVT · principal 4.625 08/15/30 CVT · principal		2,973	$3.6m0.33%	0.33%	New
100	NEKTAR THERAPEUTICS COM NEW NKTR	NKTR	50,465	$3.5m0.32%	0.32%	New

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
GAMESTOP CORP		14,000	$14.4m14.0k shares
TRIPADVISOR INC TRIP 0.25 04.01.26	TRIP 0.25 04.01.26	14,000	$14.0m14.0k shares
VEECO INSTRS INC DEL VECO 2.875 06.01.29	VECO 2.875 06.01.29	9,960	$13.8m10.0k shares
JETBLUE AIRWAYS CORP JBLU 0.5 04.01.26	JBLU 0.5 04.01.26	13,824	$13.8m13.8k shares
CLOUDFLARE INC		12,000	$13.6m12.0k shares
STRATEGY INC MSTR 0 12.01.29	MSTR 0 12.01.29	15,000	$12.6m15.0k shares
Kennedy-Wilson Inc KW 4.75 02.01.30	KW 4.75 02.01.30	12,201	$12.3m12.2k shares
NEXTERA ENGY PTR XIFR 2.5 06.15.26	XIFR 2.5 06.15.26	10,000	$9.9m10.0k shares
ETSY INC		10,000	$9.7m10.0k shares
ADVANCED ENERGY INDS AEIS 2.5 09.15.28	AEIS 2.5 09.15.28	4,000	$9.6m4.0k shares
RUBRIK INC		11,000	$9.5m11.0k shares
WISDOMTREE INC WT 3.25 08.15.29	WT 3.25 08.15.29	7,000	$9.4m7.0k shares
BLACKBERRY LTD BBCN 3 02.15.29	BBCN 3 02.15.29	7,000	$8.1m7.0k shares
LIVE NATION ENTERTAINMENT IN LYV 3.125 01.15.29	LYV 3.125 01.15.29	5,000	$7.6m5.0k shares
IIP OPERATION PARTNER IIPR 5.5 05.25.26 *	IIPR 5.5 05.25.26 *	7,582	$7.6m7.6k shares
ON SEMICONDUCTOR CORP ON 0 05.01.27	ON 0 05.01.27	5,000	$6.5m5.0k shares
NABORS INDS INC NBR 1.75 06.15.29	NBR 1.75 06.15.29	6,315	$5.8m6.3k shares
FIRST MAJESTIC AGCN 0.125 01.15.31	AGCN 0.125 01.15.31	4,000	$5.1m4.0k shares
LITHIUM ARGENTINA AG LARCN 1.75 01.15.27	LARCN 1.75 01.15.27	5,095	$4.9m5.1k shares
WILLOW LANE ACQUISITION CRP WLIIU	WLIIU	450,000	$4.5m450.0k shares
Bloom Energy Corp BE 0 11.15.30	BE 0 11.15.30	4,000	$4.3m4.0k shares
EXACT SCIENCES CORP EXAS 2 03.01.30	EXAS 2 03.01.30	3,000	$4.3m3.0k shares
WILLOW LANE ACQUISITION CORP WLAC	WLAC	397,897	$4.2m397.9k shares
SPRING VY ACQUISITION CORP I GFUZ	GFUZ	370,960	$3.8m371.0k shares
ALGONQUIN PWR UTILS CORP AQN	AQN	600,000	$3.7m600.0k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
SPDR GOLD TR GLD · Call	GLD	Call	148,600	$54.7m148.6k shares	Reduced
SPDR GOLD TR GLD · Put	GLD	Put	62,000	$22.8m62.0k shares	Reduced
VANECK ETF TRUST GDXJ · Put	GDXJ	Put	195,000	$19.2m195.0k shares	Added
GLOBAL X FDS COPX · Put	COPX	Put	180,000	$13.9m180.0k shares	Reduced
SPDR S&P 500 ETF TR SPY · Put	SPY	Put	15,900	$11.9m15.9k shares	Reduced
ISHARES SILVER TR SLV · Call	SLV	Call	217,500	$11.6m217.5k shares	Reduced
ABIVAX SA ABVX · Call	ABVX	Call	85,100	$11.3m85.1k shares	Added
FREEPORT-MCMORAN INC FCX · Put	FCX	Put	176,400	$11.1m176.4k shares	Reduced
ELECTRONIC ARTS INC EA · Put	EA	Put	50,500	$10.4m50.5k shares	New
ISHARES TR IJR · Call	IJR	Call	66,000	$9.8m66.0k shares	New
SPDR S&P 500 ETF TR SPY · Call	SPY	Call	10,900	$8.1m10.9k shares	Reduced
T1 ENERGY INC TE · Call	TE	Call	694,500	$6.6m694.5k shares	Added
ISHARES TR EFA · Put	EFA	Put	60,000	$6.2m60.0k shares	New
VANECK ETF TRUST GDXJ · Call	GDXJ	Call	60,600	$6.0m60.6k shares	Reduced
UNITED STS OIL FD LP USO · Call	USO	Call	50,000	$5.3m50.0k shares	New
INVESCO QQQ TR QQQ · Call	QQQ	Call	7,000	$5.2m7.0k shares	Added
GAMESTOP CORP NEW GME · Put	GME	Put	200,000	$4.4m200.0k shares	Reduced
AMERICAN AXLE & MFG HLDGS IN DCH · Call	DCH	Call	790,300	$4.3m790.3k shares	Added
BRITISH AMERN TOB PLC BTI · Call	BTI	Call	50,000	$3.1m50.0k shares	Unchanged
CORE SCIENTIFIC INC NEW CORZ · Call	CORZ	Call	100,000	$2.6m100.0k shares	Unchanged
GLOBAL X FDS COPX · Call	COPX	Call	30,000	$2.3m30.0k shares	Added
UNIQURE NV QURE · Call	QURE	Call	50,000	$2.3m50.0k shares	Reduced
TEUCRIUM COMMODITY TR CORN · Call	CORN	Call	125,000	$2.1m125.0k shares	New
PAPA JOHNS INTL INC PZZA · Call	PZZA	Call	55,000	$2.0m55.0k shares	New
ISHARES SILVER TR SLV · Put	SLV	Put	37,000	$2.0m37.0k shares	Reduced

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
HENNESSY CAP INVT CORP VII 13G · filed 2025-01-21		9.7%	new	13G	2025-01-21
APOGEE ACQUISITION CORP AACPU · 13G · filed 2026-04-09	AACPU	5.3%≈ $8.2m	new	13G	2026-04-09
TEXAS VENTURES ACQUISITION I TVACU · 13G · filed 2025-05-05	TVACU	5.1%	new	13G	2025-05-05
QUANTUM LEAP ACQUISITION COR QLEP · 13G · filed 2026-05-01	QLEP	5.0%	new	13G	2026-05-01