In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Murchinson Ltd. reported 52 stock positions worth $226.1 million . Its top holding was Nano Dimension Ltd. - ADR (NNDM) at 16.9% of the portfolio, followed by United States Steel (X, 16.3% ) and Invesco QQQ Trust Series 1 (QQQ, 13.5% ). Compared with Q2 2024, it opened 35 new positions, sold out of 20, added to 4 and reduced 8. The biggest buy was a new position in Invesco QQQ Trust Series 1 (QQQ) and the biggest sale an exit from TC Energy (TRP).
Location TORONTO, A6
CIK 0001838556
Portfolio Value $226.1M (Q3 2024) Holdings 52 stocks · $226.1M 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 Q2 2024 NNDM Nano Dimension Ltd. - ADR 15,550,000 $38.1M No change X United States Steel Corp. 1,045,700 $36.9M Reduce -38.5% QQQ Invesco QQQ Trust Series 1 62,500 $30.5M New HES Hess Corp. 125,000 $17.0M New MSOS Advisorshares Pure US Cann 1,899,800 $13.6M Add +18.8% ACI Albertsons Cos Inc. Class A 632,315 $11.7M Reduce -7.9% VALE Vale SA-SP ADR 1,000,000 $11.7M New AMED Amedisys Inc. 105,376 $10.2M Reduce -15.0% HCP Hashicorp Inc. Class A 181,000 $6.1M Add +81.0% MGRC McGrath Rentcorp 44,713 $4.7M Reduce -36.2% CYTK Cytokinetics Inc. 83,795 $4.4M No change PRFT Perficient Inc. 57,050 $4.3M New OABI Omniab Inc. 1,000,000 $4.2M New ORMP Oramed Pharmaceuticals Inc. 1,708,879 $4.2M Add +0.5% TXNM TXNM Energy Inc. 75,000 $3.3M No change COP Conocophillips 25,500 $2.7M New CEG Constellation Energy 10,000 $2.6M New TDAY USA Today Co. Inc. filed as GANNETT CO INC 450,000 $2.5M Reduce -18.2% YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA 115,839 $2.5M Reduce -22.8% SRDX Surmodics Inc. 55,000 $2.1M New GSAT Globalstar Inc. 1,245,999 $1.5M No change UEC Uranium Energy Corp. 225,000 $1.4M Reduce -74.7% GEL Genesis Energy L.P. 75,160 $1.0M New DM Desktop Metal Inc. Class A 208,100 $972K New SWN Southwestern Energy Co. 100,000 $711K New RY Royal Bank of Canada 5,255 $655K New INBX Inhibrx Biosciences Inc. 33,790 $529K Add +94.5% GRYPHON DIGITAL MNG INC 647,339 $441K Reduce -18.5% TD Toronto-Dominion Bank 6,483 $410K New SHOP Shopify Inc. Class A 4,492 $360K New ENB Enbridge Inc. 8,080 $328K New CNI Canadian Natl Railway Co. 2,056 $326K New CP Canadian Pacific Kansas City 3,463 $296K New BN Brookfield Corp. 5,343 $284K New CNQ Canadian Natural Resources 7,899 $262K New BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX 4,564 $249K New BMO Bank of Montreal filed as BANK MONTREAL QUE 2,706 $244K New CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM 3,502 $215K New AXONICS INC 3,000 $209K New PWSC Powerschool Holdings Inc. Class A 9,000 $206K New CONSOLIDATED COMM HLDGS INC 44,000 $204K New VZIO Vizio Holding Corp. Class A 18,000 $201K New SHCR Sharecare Inc. 141,000 $200K New SGRP Spar Group Inc. 80,000 $196K New TELL Tellurian Inc. 201,000 $195K New VGR Vector Group Ltd. 13,000 $194K New AGS Playags Inc. 17,000 $194K New AAN The Aaron's Co. Inc. filed as THE AARONS COMPANY INC 19,000 $189K New RCM R1 RCM Inc. 13,000 $184K New ZJK ZJK Industrial Co. Ltd. Class A 35,000 $175K New KLTR Kaltura Inc. 98,389 $134K No change DDD 3D Systems Corp. filed as 3-D SYS CORP DEL 10,000 $28K New
Options reported separately and not counted above: MSTR puts ($37.1M), RY puts ($18.2M), RY calls ($18.2M), BA puts ($15.2M), AIR puts ($8.5M), BYND puts ($5.7M), SAVEQ puts ($5.5M), SU puts ($4.1M), SU calls ($4.1M), ECHO puts ($4.0M), LUMN puts ($839K), FUBO puts ($449K), and 6 more.
Other holdings (11): bonds, preferreds, convertibles and warrants · $19.0M (not counted above) Security Class Shares / Principal Value Change RIVIAN AUTO INC (RIVN 4.625 03/15/29) NOTE 4.625% 3/1 · principal 9,500,000 $8.9M Reduce -17.4% FUBOTV INC (FUBO 3.25 02/15/26) NOTE 3.250% 2/1 · principal 5,500,000 $4.2M Reduce -15.4% SPIRIT AIRLINES INC (SAVE 1 05/15/26) NOTE 1.000% 5/1 · principal 7,000,000 $2.1M No change BEYOND MEAT INC (BYND 0 03/15/27) NOTE 3/1 · principal 9,500,000 $1.6M No change THE REALREAL INC (REAL 1 03/01/28) NOTE 1.000% 3/0 · principal 2,700,000 $1.3M No change CHEGG INC (CHGG 0 09/01/26) NOTE 9/0 · principal 1,000,000 $761K New SMR.WS Nuscale Power Co. -CW27 *W EXP 05/02/202 20,000 $64K New BAYAR Bayview Acquisition Corp. RIGHT 11/17/2028 270,000 $41K No change ASTLW Algoma Steel Group Inc. -CW26 *W EXP 10/19/202 20,400 $35K No change MRNOW Murano Global BV-28 *W EXP 03/19/202 106,049 $15K New CRMLW Critical Metals Corp.-28 *W EXP 02/27/202 39,355 $10K Reduce -47.9%
Total filed on the 13F, all lines: $245.1M.
Portfolio Sells Q2 2024 → Q3 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 Q2 2024 % Of Portfolio Change To Portfolio ▲ TRP TC Energy Corp. Sold out 0.00% −33.35 IBIT iShares Bitcoin Trust ETF Sold out 0.00% −12.65 GLD SPDR Gold Shares Sold out 0.00% −4.85 BABA Alibaba Group Holding-SP ADR Sold out 0.00% −3.25 GIL Gildan Activewear Inc. Sold out 0.00% −1.54 ANSS Ansys Inc. Sold out 0.00% −1.18 CERE Cerevel Therapeutics Holding Sold out 0.00% −0.92 TWLO Twilio Inc. Class A Sold out 0.00% −0.83 BAYA Bayview Acquisition Corp. Class A Sold out 0.00% −0.62 UEC Uranium Energy Corp. Reduce -74.7% 0.62% −0.59 HA Hawaiian Holdings Inc. Sold out 0.00% −0.50 ANF Abercrombie & Fitch Co. Class A Sold out 0.00% −0.40 GLNG Golar LNG Ltd. Sold out 0.00% −0.29 SPRO Spero Therapeutics Inc. Sold out 0.00% −0.26 PARAA Paramount Global Class B Sold out 0.00% −0.23 CB Chubb Ltd. Sold out 0.00% −0.18 SII Sprott Inc. Sold out 0.00% −0.17 FWRD Forward Air Corp. Sold out 0.00% −0.06 HOWL Werewolf Therapeutics Inc. Sold out 0.00% −0.03 ABOS Acumen Pharmaceuticals Inc. Sold out 0.00% −0.03 RDZN Roadzen Inc. Sold out 0.00% −0.02 GRYPHON DIGITAL MNG INC Reduce -18.5% 0.20% −0.02 MGRC McGrath Rentcorp Reduce -36.2% 2.08% +0.40 YPF YPF S.A.-Sponsored ADR Reduce -22.8% 1.09% +0.41 TDAY USA Today Co. Inc. Reduce -18.2% 1.12% +0.55 X United States Steel Corp. Reduce -38.5% 16.34% +1.85 AMED Amedisys Inc. Reduce -15.0% 4.50% +1.93 ACI Albertsons Cos Inc. Class A Reduce -7.9% 5.17% +2.11
Portfolio Buys Q2 2024 → Q3 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 Q2 2024 % Of Portfolio Change To Portfolio ▼ QQQ Invesco QQQ Trust Series 1 New 13.49% +13.49 HES Hess Corp. New 7.51% +7.51 VALE Vale SA-SP ADR New 5.17% +5.17 MSOS Advisorshares Pure US Cann Add +18.8% 6.02% +3.38 HCP Hashicorp Inc. Class A Add +81.0% 2.71% +1.95 PRFT Perficient Inc. New 1.90% +1.90 OABI Omniab Inc. New 1.87% +1.87 COP Conocophillips New 1.19% +1.19 CEG Constellation Energy New 1.15% +1.15 SRDX Surmodics Inc. New 0.94% +0.94 ORMP Oramed Pharmaceuticals Inc. Add +0.5% 1.84% +0.86 GEL Genesis Energy L.P. New 0.44% +0.44 DM Desktop Metal Inc. Class A New 0.43% +0.43 SWN Southwestern Energy Co. New 0.31% +0.31 RY Royal Bank of Canada New 0.29% +0.29 TD Toronto-Dominion Bank New 0.18% +0.18 INBX Inhibrx Biosciences Inc. Add +94.5% 0.23% +0.18 SHOP Shopify Inc. Class A New 0.16% +0.16 ENB Enbridge Inc. New 0.15% +0.15 CNI Canadian Natl Railway Co. New 0.14% +0.14 CP Canadian Pacific Kansas City New 0.13% +0.13 BN Brookfield Corp. New 0.13% +0.13 CNQ Canadian Natural Resources New 0.12% +0.12 BNS Bank of Nova Scotia New 0.11% +0.11 BMO Bank of Montreal New 0.11% +0.11 CM Can Imperial BK of Commerce New 0.10% +0.10 AXONICS INC New 0.09% +0.09 PWSC Powerschool Holdings Inc. Class A New 0.09% +0.09 CONSOLIDATED COMM HLDGS INC New 0.09% +0.09 VZIO Vizio Holding Corp. Class A New 0.09% +0.09 SHCR Sharecare Inc. New 0.09% +0.09 SGRP Spar Group Inc. New 0.09% +0.09 TELL Tellurian Inc. New 0.09% +0.09 VGR Vector Group Ltd. New 0.09% +0.09 AGS Playags Inc. New 0.09% +0.09 AAN The Aaron's Co. Inc. New 0.08% +0.08 RCM R1 RCM Inc. New 0.08% +0.08 ZJK ZJK Industrial Co. Ltd. Class A New 0.08% +0.08 DDD 3D Systems Corp. New 0.01% +0.01
Options Activity Q2 2024 → Q3 2024 Security Type Change vs Q2 2024 Underlying Shares Value ▼ GOOG Alphabet Inc. Class C call Sold out 200,000 $36.7Mbefore exit BCE Bce Inc. call Sold out 690,000 $22.3Mbefore exit BCE Bce Inc. put Sold out 690,000 $22.3Mbefore exit RY Royal Bank of Canada put New 146,000 $18.2M RY Royal Bank of Canada call New 146,000 $18.2M BA The Boeing Co. put New 100,000 $15.2M CCJ Cameco Corp. call Sold out 240,000 $11.8Mbefore exit BABA Alibaba Group Holding-SP ADR call Sold out 150,000 $10.8Mbefore exit AIR Aar Corp. put New 130,700 $8.5M CCJ Cameco Corp. put Sold out 136,200 $6.7Mbefore exit BYND Beyond Meat Inc. put New 839,200 $5.7M SAVEQ Spirit Airlines Inc. put New 2,275,900 $5.5M MGA Magna International Inc. call Sold out 100,000 $4.2Mbefore exit MGA Magna International Inc. put Sold out 100,000 $4.2Mbefore exit GIL Gildan Activewear Inc. call Sold out 108,173 $4.1Mbefore exit SU Suncor Energy Inc. put Reduce -62.1% 110,000 $4.1M SU Suncor Energy Inc. call Reduce -62.1% 110,000 $4.1M INTC Intel Corp. call Sold out 62,500 $1.9Mbefore exit YPF YPF S.A.-Sponsored ADR call Sold out 82,875 $1.7Mbefore exit GOLD Gold.com Inc. put New 10,000 $442K FWRD Forward Air Corp. put New 10,000 $354K IMMR Immersion Corporation put New 20,000 $178K MEI Methode Electronics Inc. put Sold out 16,200 $168Kbefore exit NVTS Navitas Semiconductor Corp. put New 57,900 $142K MEI Methode Electronics Inc. call Sold out 13,000 $135Kbefore exit TMCI Treace Medical Concepts Inc. put New 10,000 $58K
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2024 → Q3 2024 Security Class Change vs Q2 2024 Shares / Principal Value ▼ RIVIAN AUTO INC (RIVN 4.625 03/15/29) NOTE 4.625% 3/1 · principal Reduce -17.4% 9,500,000 $8.9M FUBOTV INC (FUBO 3.25 02/15/26) NOTE 3.250% 2/1 · principal Reduce -15.4% 5,500,000 $4.2M CHEGG INC (CHGG 0 09/01/26) NOTE 9/0 · principal New 1,000,000 $761K DISH NETWORK CORP (DISH 3.375 08/15/26) NOTE 3.375% 8/1 · principal Sold out 1,000,000 $610Kbefore exit SMR.WS Nuscale Power Co. -CW27 *W EXP 05/02/202 New 20,000 $64K WKSPW Worksport Ltd. -CW26 *W EXP 08/06/202 Sold out 570,108 $36Kbefore exit MRNOW Murano Global BV-28 *W EXP 03/19/202 New 106,049 $15K CRMLW Critical Metals Corp.-28 *W EXP 02/27/202 Reduce -47.9% 39,355 $10K
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