Murchinson Ltd.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Murchinson Ltd. reported 58 stock positions worth $248.5 million. Its top holding was South Bow (SOBO) at 23.1% of the portfolio, followed by Nutrien (NTR, 20.0%) and Nano Dimension Ltd. - ADR (NNDM, 10.6%). Compared with Q4 2025, it opened 47 new positions, sold out of 26, added to 3 and reduced 3. The biggest buy was a new position in South Bow (SOBO) and the biggest sale an exit from TC Energy (TRP).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001838556
- Portfolio Value
- $248.5M (Q1 2026)
- SEC Filing
- 0001838556-26-000009 ↗ filed May 15, 2026
Holdings Value
Holdings 58 stocks · $248.5M
| SOBO South Bow Corp. | 23.13% | 1,725,100 | $57.5M | New |
| NTR Nutrien Ltd. | 20.03% | 659,531 | $49.8M | New |
| NNDM Nano Dimension Ltd. - ADR | 10.64% | 15,550,000 | $26.4M | No change |
| GTLS Chart Industries Inc. | 10.03% | 120,539 | $24.9M | New |
| RY Royal Bank of Canada | 4.90% | 75,192 | $12.2M | New |
| MCGA Yorkville Acquisition Corp. Class A | 4.07% | 1,000,400 | $10.1M | No change |
| WBD Warner Bros Discovery Inc. | 3.32% | 300,000 | $8.2M | New |
| NWAX.U New America Acquisition I Co. | 3.15% | 755,100 | $7.8M | New |
| PTHS Pelthos Therapeutics Inc. | 2.51% | 296,314 | $6.2M | Add +2.4% |
| GDXJ Vaneck Junior Gold Miners | 1.81% | 37,500 | $4.5M | New |
| ORMP Oramed Pharmaceuticals Inc. | 1.80% | 1,315,294 | $4.5M | Reduce -1.9% |
| AUB Atlantic Union Bankshares Co. | 1.54% | 106,874 | $3.8M | No change |
| SUNC Sunococorp LLC | 1.45% | 58,527 | $3.6M | Reduce -81.6% |
| MSOS Advisorshares Pure US Cann | 1.43% | 999,895 | $3.5M | New |
| BMO Bank of Montreal filed as BANK MONTREAL MEDIUM | 1.09% | 20,046 | $2.7M | Add +50.2% |
| KVUE Kenvue Inc. | 1.04% | 150,000 | $2.6M | No change |
| TDAY USA Today Co. Inc. | 0.91% | 320,000 | $2.3M | Reduce -23.8% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.81% | 21,844 | $2.0M | New |
| SGOV iShares 0-3 Month Treasury B | 0.81% | 19,881 | $2.0M | New |
| CNI Canadian Natl Railway Co. | 0.68% | 16,435 | $1.7M | New |
| SLV iShares Silver Trust | 0.41% | 15,000 | $1.0M | New |
| ATKR Atkore Inc. | 0.36% | 15,000 | $884K | New |
| UA Under Armour Inc. Class C | 0.35% | 150,000 | $869K | New |
| FNV Franco-Nevada Corp. | 0.31% | 3,164 | $782K | New |
| OSISKO DEVELOPMENT CORP | 0.26% | 200,000 | $650K | New |
| NWBI Northwest Bancshares Inc. | 0.15% | 30,000 | $381K | No change |
| IMXI International Money Express | 0.14% | 21,700 | $343K | New |
| IXHL Incannex Healthcare Inc. | 0.13% | 104,113 | $312K | New |
| JHG Janus Henderson Group PLC | 0.10% | 5,000 | $257K | New |
| EHAB Enhabit Inc. | 0.10% | 17,700 | $249K | New |
| BLFY Blue Foundry Bancorp | 0.10% | 18,800 | $249K | New |
| DBRG Digitalbridge Group Inc. | 0.10% | 16,000 | $247K | New |
| PRA Proassurance Corp. | 0.10% | 9,900 | $245K | New |
| CSGS CSG Systems Intl Inc. | 0.10% | 3,060 | $245K | New |
| ONTF ON24 Inc. | 0.10% | 30,100 | $244K | New |
| OS Onestream Inc. | 0.10% | 10,100 | $242K | New |
| FOLD Amicus Therapeutics Inc. | 0.10% | 16,700 | $241K | New |
| GLDD Great Lakes Dredge & Dock Co. | 0.10% | 14,200 | $241K | New |
| DHIL Diamond Hill Investment Grp | 0.10% | 1,400 | $241K | New |
| AL Sumisho Air Lease Corp. filed as AIR LEASE CORP | 0.10% | 3,700 | $240K | New |
| SEMR Semrush Holdings Inc. Class A | 0.10% | 20,100 | $240K | New |
| SEE Sealed Air Corp. | 0.10% | 5,700 | $240K | New |
| VRE Veris Residential Inc. | 0.10% | 12,700 | $240K | New |
| CTLP Cantaloupe Inc. | 0.10% | 22,100 | $239K | New |
| CCO Clear Channel Outdoor Holdin | 0.10% | 100,800 | $239K | New |
| CWAN Clearwater Analytics HDS-A | 0.10% | 10,000 | $237K | New |
| TPH Tri Pointe Homes Inc. | 0.09% | 5,000 | $234K | New |
| HTBK Heritage Commerce Corp. | 0.09% | 18,600 | $232K | New |
| NWE Northwestern Energy Group Inc. | 0.09% | 3,500 | $231K | New |
| STEL Stellar Bancorp Inc. | 0.09% | 6,300 | $231K | New |
| XAIR Beyond Air Inc. | 0.09% | 329,987 | $228K | New |
| BHF Brighthouse Financial Inc. | 0.09% | 3,740 | $224K | New |
| EIX Edison International | 0.09% | 3,000 | $220K | New |
| UDMY Udemy Inc. | 0.09% | 47,500 | $219K | New |
| LNSR Lensar Inc. | 0.09% | 36,560 | $218K | Add +17.5% |
| VNDA Vanda Pharmaceuticals Inc. | 0.08% | 30,000 | $207K | New |
| TWO Two Harbors Investment Corp. | 0.08% | 17,000 | $194K | New |
| CVU Cpi Aerostructures Inc. | 0.02% | 14,178 | $56K | New |
Options reported separately and not counted above: NTR puts ($203.9M), RY puts ($54.0M), RY calls ($54.0M), TD calls ($23.8M), TD puts ($23.8M), BMO puts ($20.3M), BMO calls ($20.3M), ORCL calls ($14.7M), TRP calls ($11.0M), TRP puts ($11.0M), BNS calls ($10.2M), BNS puts ($10.2M), and 23 more.
Other holdings (2): bonds, preferreds, convertibles and warrants · $312K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | 250,000 | $260K | No change |
| GENVR Gen Digital Inc. - CVR | RIGHT 99/99/9999 | 111,569 | $53K | No change |
Total filed on the 13F, all lines: $248.8M.
Portfolio Sells Q4 2025 → Q1 2026
| TRP TC Energy Corp. | Sold out | 0.00% | −33.78 |
| SUNC Sunococorp LLC | Reduce -81.6% | 1.45% | −8.32 |
| DAY Dayforce Inc. | Sold out | 0.00% | −4.33 |
| RKT Rocket Cos Inc. Class A | Sold out | 0.00% | −3.62 |
| NFLX Netflix Inc. | Sold out | 0.00% | −2.93 |
| CLST Catalyst Bancorp Inc. | Sold out | 0.00% | −2.55 |
| GIL Gildan Activewear Inc. | Sold out | 0.00% | −1.99 |
| TASK Taskus Inc. Class A | Sold out | 0.00% | −1.24 |
| ABUS Arbutus Biopharma Corp. | Sold out | 0.00% | −0.83 |
| ORMP Oramed Pharmaceuticals Inc. | Reduce -1.9% | 1.80% | −0.58 |
| NGD New Gold Inc. | Sold out | 0.00% | −0.54 |
| WOLF Wolfspeed Inc. | Sold out | 0.00% | −0.54 |
| TDAY USA Today Co. Inc. | Reduce -23.8% | 0.91% | −0.44 |
| SPIR Spire Global Inc. | Sold out | 0.00% | −0.19 |
| BARK Bark Inc. | Sold out | 0.00% | −0.18 |
| CWH Camping World Holdings Inc. Class A | Sold out | 0.00% | −0.18 |
| APRE Aprea Therapeutics Inc. | Sold out | 0.00% | −0.18 |
| TVA Texas Ventures Acquisition-A | Sold out | 0.00% | −0.17 |
| ENB Enbridge Inc. | Sold out | 0.00% | −0.15 |
| RPT Rithm Property Trust Inc. | Sold out | 0.00% | −0.12 |
| ENVX Enovix Corp. | Sold out | 0.00% | −0.11 |
| PLCE The Children's Place Inc. | Sold out | 0.00% | −0.11 |
| WEN The Wendy's Co. | Sold out | 0.00% | −0.09 |
| CIO City Office REIT Inc. | Sold out | 0.00% | −0.06 |
| EB Eventbrite Inc. Class A | Sold out | 0.00% | −0.06 |
| DENN Denny's Corp. | Sold out | 0.00% | −0.06 |
| BYND Beyond Meat Inc. | Sold out | 0.00% | −0.05 |
| PEW Grabagun Digital Holdings Inc. | Sold out | 0.00% | −0.03 |
| OPAD Offerpad Solutions Inc. | Sold out | 0.00% | −0.01 |
Portfolio Buys Q4 2025 → Q1 2026
| SOBO South Bow Corp. | New | 23.13% | +23.13 |
| NTR Nutrien Ltd. | New | 20.03% | +20.03 |
| GTLS Chart Industries Inc. | New | 10.03% | +10.03 |
| RY Royal Bank of Canada | New | 4.90% | +4.90 |
| WBD Warner Bros Discovery Inc. | New | 3.32% | +3.32 |
| NWAX.U New America Acquisition I Co. | New | 3.15% | +3.15 |
| GDXJ Vaneck Junior Gold Miners | New | 1.81% | +1.81 |
| MSOS Advisorshares Pure US Cann | New | 1.43% | +1.43 |
| BIL SS SPDR BB 1-3M T-Bill ETF | New | 0.81% | +0.81 |
| SGOV iShares 0-3 Month Treasury B | New | 0.81% | +0.81 |
| CNI Canadian Natl Railway Co. | New | 0.68% | +0.68 |
| SLV iShares Silver Trust | New | 0.41% | +0.41 |
| ATKR Atkore Inc. | New | 0.36% | +0.36 |
| UA Under Armour Inc. Class C | New | 0.35% | +0.35 |
| FNV Franco-Nevada Corp. | New | 0.31% | +0.31 |
| OSISKO DEVELOPMENT CORP | New | 0.26% | +0.26 |
| IMXI International Money Express | New | 0.14% | +0.14 |
| IXHL Incannex Healthcare Inc. | New | 0.13% | +0.13 |
| JHG Janus Henderson Group PLC | New | 0.10% | +0.10 |
| EHAB Enhabit Inc. | New | 0.10% | +0.10 |
| BLFY Blue Foundry Bancorp | New | 0.10% | +0.10 |
| DBRG Digitalbridge Group Inc. | New | 0.10% | +0.10 |
| PRA Proassurance Corp. | New | 0.10% | +0.10 |
| CSGS CSG Systems Intl Inc. | New | 0.10% | +0.10 |
| ONTF ON24 Inc. | New | 0.10% | +0.10 |
| OS Onestream Inc. | New | 0.10% | +0.10 |
| FOLD Amicus Therapeutics Inc. | New | 0.10% | +0.10 |
| GLDD Great Lakes Dredge & Dock Co. | New | 0.10% | +0.10 |
| DHIL Diamond Hill Investment Grp | New | 0.10% | +0.10 |
| AL Sumisho Air Lease Corp. | New | 0.10% | +0.10 |
| SEMR Semrush Holdings Inc. Class A | New | 0.10% | +0.10 |
| SEE Sealed Air Corp. | New | 0.10% | +0.10 |
| VRE Veris Residential Inc. | New | 0.10% | +0.10 |
| CTLP Cantaloupe Inc. | New | 0.10% | +0.10 |
| CCO Clear Channel Outdoor Holdin | New | 0.10% | +0.10 |
| CWAN Clearwater Analytics HDS-A | New | 0.10% | +0.10 |
| TPH Tri Pointe Homes Inc. | New | 0.09% | +0.09 |
| HTBK Heritage Commerce Corp. | New | 0.09% | +0.09 |
| NWE Northwestern Energy Group Inc. | New | 0.09% | +0.09 |
| STEL Stellar Bancorp Inc. | New | 0.09% | +0.09 |
| XAIR Beyond Air Inc. | New | 0.09% | +0.09 |
| BHF Brighthouse Financial Inc. | New | 0.09% | +0.09 |
| EIX Edison International | New | 0.09% | +0.09 |
| UDMY Udemy Inc. | New | 0.09% | +0.09 |
| VNDA Vanda Pharmaceuticals Inc. | New | 0.08% | +0.08 |
| TWO Two Harbors Investment Corp. | New | 0.08% | +0.08 |
| CVU Cpi Aerostructures Inc. | New | 0.02% | +0.02 |
| BMO Bank of Montreal | Add +50.2% | 1.09% | +0.01 |
| LNSR Lensar Inc. | Add +17.5% | 0.09% | −0.14 |
| PTHS Pelthos Therapeutics Inc. | Add +2.4% | 2.51% | −3.10 |
Options Activity Q4 2025 → Q1 2026
| NTR Nutrien Ltd. | put | Add +201.8% | 2,701,900 | $203.9M |
| WOLF Wolfspeed Inc. | put | Sold out | 3,834,800 | $66.8Mbefore exit |
| RY Royal Bank of Canada | put | Add +525.9% | 333,600 | $54.0M |
| RY Royal Bank of Canada | call | Add +435.5% | 333,600 | $54.0M |
| SOBO South Bow Corp. | put | Sold out | 1,467,400 | $40.3Mbefore exit |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Sold out | 50,000 | $34.1Mbefore exit |
| TD Toronto-Dominion Bank | call | Add +183.3% | 255,000 | $23.8M |
| TD Toronto-Dominion Bank | put | Add +183.3% | 255,000 | $23.8M |
| BMO Bank of Montreal | put | Add +252.9% | 150,000 | $20.3M |
| BMO Bank of Montreal | call | Add +252.9% | 150,000 | $20.3M |
| MSTR Strategy Inc. | put | Sold out | 100,000 | $15.2Mbefore exit |
| TRP TC Energy Corp. | put | Reduce -91.2% | 175,600 | $11.0M |
| TRP TC Energy Corp. | call | New | 175,600 | $11.0M |
| BNS Bank of Nova Scotia | call | New | 147,300 | $10.2M |
| BNS Bank of Nova Scotia | put | New | 147,300 | $10.2M |
| CM Can Imperial BK of Commerce | put | Add +3848.2% | 106,600 | $10.1M |
| CM Can Imperial BK of Commerce | call | Add +3848.2% | 106,600 | $10.1M |
| SU Suncor Energy Inc. | put | New | 112,800 | $7.5M |
| SU Suncor Energy Inc. | call | New | 112,800 | $7.5M |
| MRNA Moderna Inc. | put | Sold out | 200,000 | $5.9Mbefore exit |
| PYPL PayPal Holdings Inc. | call | Sold out | 100,000 | $5.8Mbefore exit |
| RKT Rocket Cos Inc. Class A | put | Sold out | 300,000 | $5.8Mbefore exit |
| CNQ Canadian Natural Resources | put | New | 105,000 | $5.1M |
| CNQ Canadian Natural Resources | call | New | 105,000 | $5.1M |
| NTR Nutrien Ltd. | call | Add +23.1% | 64,400 | $4.9M |
| CP Canadian Pacific Kansas City | put | New | 57,700 | $4.5M |
| CP Canadian Pacific Kansas City | call | New | 57,700 | $4.5M |
| FLR Fluor Corp. | put | Sold out | 100,000 | $4.0Mbefore exit |
| PFE Pfizer Inc. | call | Sold out | 150,000 | $3.7Mbefore exit |
| NN Nextnav Inc. | put | New | 200,000 | $3.2M |
| FSLR First Solar Inc. | call | New | 15,000 | $3.0M |
| ECHO Echostar Corp. Class A | call | New | 25,000 | $2.9M |
| PCG P G & E Corp. | call | New | 150,000 | $2.6M |
| CNI Canadian Natl Railway Co. | call | New | 25,000 | $2.6M |
| CNI Canadian Natl Railway Co. | put | New | 25,000 | $2.6M |
| AEM Agnico Eagle Mines Ltd. | put | Sold out | 15,000 | $2.5Mbefore exit |
| AEM Agnico Eagle Mines Ltd. | call | Sold out | 15,000 | $2.5Mbefore exit |
| ENB Enbridge Inc. | put | Add +125.0% | 45,000 | $2.4M |
| ENB Enbridge Inc. | call | Reduce -25.0% | 45,000 | $2.4M |
| RICK Rci Hospitality Holdings Inc. | call | Sold out | 100,000 | $2.4Mbefore exit |
| B Barrick Mining Corp. | call | Sold out | 43,200 | $1.9Mbefore exit |
| B Barrick Mining Corp. | put | Sold out | 43,200 | $1.9Mbefore exit |
| IMO Imperial Oil Ltd. | call | New | 8,900 | $1.2M |
| IMO Imperial Oil Ltd. | put | New | 8,900 | $1.2M |
| ABUS Arbutus Biopharma Corp. | call | Sold out | 222,900 | $1.1Mbefore exit |
| BCE Bce Inc. | put | Sold out | 37,500 | $893Kbefore exit |
| BCE Bce Inc. | call | Sold out | 37,500 | $893Kbefore exit |
| FTS Fortis Inc. | put | New | 14,500 | $809K |
| FTS Fortis Inc. | call | New | 14,500 | $809K |
| BYND Beyond Meat Inc. | put | Sold out | 327,300 | $268Kbefore exit |
Showing the first 50 of 52.
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2025 → Q1 2026
| BEYOND MEAT INC (BYND 7 10/15/30) | DEBT 10/1 · principal | Sold out | 461,000 | $372Kbefore exit |
| AMPGW Amplitech Group Inc.-CW26 | *W EXP 02/26/202 | Sold out | 46,693 | $4Kbefore 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 2024Amended | 37 | $443.4M | TRP, X, IBIT, NNDM, GLD |
| Q1 2024Amended | 47 | $884.2M | TRP, X, NNDM, PXD, IBIT |