In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 15, 2024), Murchinson Ltd. reported 37 stock positions worth $443.4 million . Its top holding was TC Energy (TRP) at 33.3% of the portfolio, followed by United States Steel (X, 14.5% ) and iShares Bitcoin Trust ETF (IBIT, 12.6% ). Compared with Q1 2024, it opened 17 new positions, sold out of 27, added to 7 and reduced 6. The biggest buy was iShares Bitcoin Trust ETF (IBIT, shares +87% ) and the biggest sale TC Energy (TRP, shares −69% ).
Location TORONTO, A6
CIK 0001838556
Portfolio Value $443.4M (Q2 2024) Holdings 37 stocks · $443.4M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2024 TRP TC Energy Corp. 3,901,133 $147.9M Reduce -69.0% X United States Steel Corp. 1,700,000 $64.3M Reduce -19.1% IBIT iShares Bitcoin Trust ETF 1,642,535 $56.1M Add +87.1% NNDM Nano Dimension Ltd. - ADR 15,550,000 $34.2M No change GLD SPDR Gold Shares 100,000 $21.5M New BABA Alibaba Group Holding-SP ADR 200,000 $14.4M Reduce -20.0% ACI Albertsons Cos Inc. Class A 686,528 $13.6M No change MSOS Advisorshares Pure US Cann 1,599,000 $11.7M New AMED Amedisys Inc. 123,979 $11.4M Add +69.2% MGRC McGrath Rentcorp 70,071 $7.5M New GIL Gildan Activewear Inc. 180,066 $6.8M New UEC Uranium Energy Corp. 889,974 $5.3M Reduce -11.0% ANSS Ansys Inc. 16,205 $5.2M New CYTK Cytokinetics Inc. 83,795 $4.5M Reduce -23.0% ORMP Oramed Pharmaceuticals Inc. 1,699,990 $4.4M Add +23.2% CERE Cerevel Therapeutics Holding 100,000 $4.1M New TWLO Twilio Inc. Class A 65,000 $3.7M Add +30.0% HCP Hashicorp Inc. Class A 100,000 $3.4M New YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA 150,000 $3.0M Add +78.6% TXNM TXNM Energy Inc. filed as PNM RES INC 75,000 $2.8M No change BAYA Bayview Acquisition Corp. Class A 270,000 $2.8M No change TDAY USA Today Co. Inc. filed as GANNETT CO INC 550,000 $2.5M New HA Hawaiian Holdings Inc. 180,000 $2.2M New ANF Abercrombie & Fitch Co. Class A 10,000 $1.8M New GSAT Globalstar Inc. 1,245,999 $1.4M Add +24.6% GLNG Golar LNG Ltd. 41,508 $1.3M New SPRO Spero Therapeutics Inc. 873,910 $1.1M No change PARAA Paramount Global Class B 100,000 $1.0M No change GRYPHON DIGITAL MNG INC 794,089 $945K Add +0.7% CB Chubb Ltd. 3,125 $797K New SII Sprott Inc. 18,218 $754K Reduce -96.4% FWRD Forward Air Corp. 15,000 $286K New INBX Inhibrx Biosciences Inc. 17,370 $246K New HOWL Werewolf Therapeutics Inc. 62,500 $153K New ABOS Acumen Pharmaceuticals Inc. 56,250 $136K New KLTR Kaltura Inc. 98,389 $118K No change RDZN Roadzen Inc. 45,167 $100K New
Options reported separately and not counted above: GOOG calls ($36.7M), MSTR puts ($30.3M), BCE puts ($22.3M), BCE calls ($22.3M), CCJ calls ($11.8M), SU calls ($11.0M), SU puts ($11.0M), BABA calls ($10.8M), CCJ puts ($6.7M), MGA calls ($4.2M), MGA puts ($4.2M), GIL calls ($4.1M), and 8 more.
Other holdings (10): bonds, preferreds, convertibles and warrants · $22.2M (not counted above) Security Class Shares / Principal Value Change RIVIAN AUTO INC (RIVN 4.625 03/15/29) NOTE 4.625% 3/1 · principal 11,500,000 $11.3M New FUBOTV INC (FUBO 3.25 02/15/26) NOTE 3.250% 2/1 · principal 6,500,000 $3.7M No change SPIRIT AIRLINES INC (SAVE 1 05/15/26) NOTE 1.000% 5/1 · principal 7,000,000 $3.2M Reduce -22.2% BEYOND MEAT INC (BYND 0 03/15/27) NOTE 3/1 · principal 9,500,000 $2.0M Add +111.1% THE REALREAL INC (REAL 1 03/01/28) NOTE 1.000% 3/0 · principal 2,700,000 $1.3M Add +170.0% DISH NETWORK CORP (DISH 3.375 08/15/26) NOTE 3.375% 8/1 · principal 1,000,000 $610K No change BAYAR Bayview Acquisition Corp. RIGHT 11/17/2028 270,000 $53K No change WKSPW Worksport Ltd. -CW26 *W EXP 08/06/202 570,108 $36K Add +60.0% CRMLW Critical Metals Corp.-28 *W EXP 02/27/202 75,599 $24K New ASTLW Algoma Steel Group Inc. -CW26 *W EXP 10/19/202 20,400 $18K No change
Total filed on the 13F, all lines: $465.6M.
Portfolio Sells Q1 2024 → Q2 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2024 % Of Portfolio Change To Portfolio ▲ TRP TC Energy Corp. Reduce -69.0% 33.35% −23.94 PXD Pioneer Natural Resources Co. Sold out 0.00% −4.26 MSTR Strategy Inc. Sold out 0.00% −2.80 SII Sprott Inc. Reduce -96.4% 0.17% −1.92 HES Hess Corp. Sold out 0.00% −1.73 GOOG Alphabet Inc. Class C Sold out 0.00% −0.86 KVUE Kenvue Inc. Sold out 0.00% −0.56 SP SP Plus Corp. Sold out 0.00% −0.47 GOOGL Alphabet Inc. Class A Sold out 0.00% −0.43 CPE Callon Petroleum Co. Sold out 0.00% −0.40 CSTR Capstar Financial Holdings I Sold out 0.00% −0.39 PAM Pampa Energia SA-Spon ADR Sold out 0.00% −0.34 TARO Taro Pharmaceutical Indus Sold out 0.00% −0.26 ICCH Icc Holdings Inc. Sold out 0.00% −0.23 ISPR Ispire Technology Inc. Sold out 0.00% −0.23 OGI Organigram Holdings Inc. Sold out 0.00% −0.20 LSXMK Liberty Media Corp.-Liber-New Sold out 0.00% −0.16 ARM Arm Holdings PLC-ADR Sold out 0.00% −0.14 DAC Danaos Corp. Sold out 0.00% −0.07 CNNE Cannae Holdings Inc. Sold out 0.00% −0.05 DDD 3D Systems Corp. Sold out 0.00% −0.03 NIKI Niki Biosolutions Inc. Sold out 0.00% −0.01 GFAI Guardforce AI Co. Ltd. Sold out 0.00% −0.01 PHUN Phunware Inc. Sold out 0.00% −0.01 MDAI Spectral AI Inc. Sold out 0.00% −0.01 GXAI Gaxos.ai Inc. Sold out 0.00% −0.01 AIXI Xiao-I Corp. Sold out 0.00% −0.01 WETH Wetouch Technology Inc. Sold out 0.00% −0.01 MULTISENSOR AI HOLDINGS INC Sold out 0.00% −0.00 CYTK Cytokinetics Inc. Reduce -23.0% 1.02% +0.16 UEC Uranium Energy Corp. Reduce -11.0% 1.21% +0.44 BABA Alibaba Group Holding-SP ADR Reduce -20.0% 3.25% +1.20 X United States Steel Corp. Reduce -19.1% 14.49% +4.81
Portfolio Buys Q1 2024 → Q2 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2024 % Of Portfolio Change To Portfolio ▼ IBIT iShares Bitcoin Trust ETF Add +87.1% 12.65% +8.63 GLD SPDR Gold Shares New 4.85% +4.85 MSOS Advisorshares Pure US Cann New 2.64% +2.64 AMED Amedisys Inc. Add +69.2% 2.57% +1.80 MGRC McGrath Rentcorp New 1.68% +1.68 GIL Gildan Activewear Inc. New 1.54% +1.54 ANSS Ansys Inc. New 1.18% +1.18 CERE Cerevel Therapeutics Holding New 0.92% +0.92 HCP Hashicorp Inc. Class A New 0.76% +0.76 TDAY USA Today Co. Inc. New 0.57% +0.57 ORMP Oramed Pharmaceuticals Inc. Add +23.2% 0.99% +0.53 HA Hawaiian Holdings Inc. New 0.50% +0.50 YPF YPF S.A.-Sponsored ADR Add +78.6% 0.68% +0.49 TWLO Twilio Inc. Class A Add +30.0% 0.83% +0.49 ANF Abercrombie & Fitch Co. Class A New 0.40% +0.40 GLNG Golar LNG Ltd. New 0.29% +0.29 CB Chubb Ltd. New 0.18% +0.18 GSAT Globalstar Inc. Add +24.6% 0.31% +0.15 GRYPHON DIGITAL MNG INC Add +0.7% 0.21% +0.08 FWRD Forward Air Corp. New 0.06% +0.06 INBX Inhibrx Biosciences Inc. New 0.06% +0.06 HOWL Werewolf Therapeutics Inc. New 0.03% +0.03 ABOS Acumen Pharmaceuticals Inc. New 0.03% +0.03 RDZN Roadzen Inc. New 0.02% +0.02
Options Activity Q1 2024 → Q2 2024 Security Type Change vs Q1 2024 Underlying Shares Value ▼ MSTR Strategy Inc. put Reduce -39.7% 22,000 $30.3M BCE Bce Inc. put New 690,000 $22.3M BCE Bce Inc. call New 690,000 $22.3M BMO Bank of Montreal call Sold out 228,500 $22.3Mbefore exit BMO Bank of Montreal put Sold out 135,800 $13.3Mbefore exit FNV Franco-Nevada Corp. put Sold out 100,000 $11.9Mbefore exit FNV Franco-Nevada Corp. call Sold out 100,000 $11.9Mbefore exit CCJ Cameco Corp. call New 240,000 $11.8M SU Suncor Energy Inc. call Reduce -52.5% 290,000 $11.0M SU Suncor Energy Inc. put Reduce -52.5% 290,000 $11.0M BABA Alibaba Group Holding-SP ADR call New 150,000 $10.8M SHOP Shopify Inc. Class A put Sold out 125,000 $9.6Mbefore exit SHOP Shopify Inc. Class A call Sold out 125,000 $9.6Mbefore exit SAVEQ Spirit Airlines Inc. put Sold out 1,850,000 $9.0Mbefore exit RY Royal Bank of Canada call Sold out 74,000 $7.5Mbefore exit RY Royal Bank of Canada put Sold out 74,000 $7.5Mbefore exit CCJ Cameco Corp. put New 136,200 $6.7M AEM Agnico Eagle Mines Ltd. put Sold out 93,800 $5.6Mbefore exit AEM Agnico Eagle Mines Ltd. call Sold out 93,800 $5.6Mbefore exit CNQ Canadian Natural Resources put Sold out 142,400 $5.4Mbefore exit CNQ Canadian Natural Resources call Sold out 142,400 $5.4Mbefore exit GIL Gildan Activewear Inc. call New 108,173 $4.1M CVE Cenovus Energy Inc. put Sold out 192,500 $3.8Mbefore exit CVE Cenovus Energy Inc. call Sold out 192,500 $3.8Mbefore exit BYND Beyond Meat Inc. put Sold out 407,700 $3.4Mbefore exit INTC Intel Corp. call New 62,500 $1.9M YPF YPF S.A.-Sponsored ADR call Add +273.3% 82,875 $1.7M FWRD Forward Air Corp. put Sold out 17,700 $551Kbefore exit SMR Nuscale Power Corp. call Sold out 91,000 $483Kbefore exit FUBO Fubotv Inc. put New 316,400 $392K RUN Sunrun Inc. call Sold out 25,000 $330Kbefore exit ISPR Ispire Technology Inc. put Sold out 50,000 $307Kbefore exit SPWRQ Sunpower Corp. put Sold out 100,000 $300Kbefore exit AMTX Aemetis Inc. put Sold out 34,100 $204Kbefore exit MEI Methode Electronics Inc. put New 16,200 $168K MEI Methode Electronics Inc. call New 13,000 $135K
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q1 2024 → Q2 2024 Security Class Change vs Q1 2024 Shares / Principal Value ▼ RIVIAN AUTO INC (RIVN 4.625 03/15/29) NOTE 4.625% 3/1 · principal New 11,500,000 $11.3M SPIRIT AIRLINES INC (SAVE 1 05/15/26) NOTE 1.000% 5/1 · principal Reduce -22.2% 7,000,000 $3.2M BEYOND MEAT INC (BYND 0 03/15/27) NOTE 3/1 · principal Add +111.1% 9,500,000 $2.0M THE REALREAL INC (REAL 1 03/01/28) NOTE 1.000% 3/0 · principal Add +170.0% 2,700,000 $1.3M WKSPW Worksport Ltd. -CW26 *W EXP 08/06/202 Add +60.0% 570,108 $36K CRMLW Critical Metals Corp.-28 *W EXP 02/27/202 New 75,599 $24K EVLVW Evolv Technologies -CW26 *W EXP 07/16/202 Sold out 22,600 $14Kbefore exit
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 50 $203.2M NNDM, GTLS, EWY, NWAX, CM Q1 2026 58 $248.5M SOBO, NTR, NNDM, GTLS, RY Q4 2025 37 $160.2M TRP, NNDM, SUNC, MCGA, PTHS Q3 2025 45 $507.0M TRP, NTR, SPY, NNDM, COOP Q2 2025 47 $176.3M SOBO, NNDM, ESGR, GLD, VALE Q1 2025 72 $561.6M BNS, SOBO, X, NNDM, ITCI Q4 2024 38 $209.0M NNDM, HES, X, SPY, ACI Q3 2024 52 $226.1M NNDM, X, QQQ, HES, MSOS Q2 2024 Amended 37 $443.4M TRP, X, IBIT, NNDM, GLD Q1 2024 Amended 47 $884.2M TRP, X, NNDM, PXD, IBIT