Picton Mahoney Asset Management
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 11, 2026), Picton Mahoney Asset Management reported 1,060 stock positions worth $9.1 billion. Its top holding was Royal Bank of Canada (RY) at 5.0% of the portfolio, followed by Toronto-Dominion Bank (TD, 3.5%) and Shopify Class A (SHOP, 3.4%). Compared with Q3 2025, it opened 289 new positions, sold out of 164, added to 250 and reduced 218. The biggest buy was Barrick Mining (B, shares +117%) and the biggest sale Agnico Eagle Mines (AEM, shares −25%).
- Most Recent 13F
- Q2 2026
- Location
- Toronto, A6
- CIK
- 0001539041
- Portfolio Value
- $9.1B (Q4 2025)
- SEC Filing
- 0001539041-26-000005 ↗ filed Feb 11, 2026
Holdings Value
Holdings 1,060 stocks · $9.1B
| RY Royal Bank of Canada | 4.96% | 2,652,043 | $452.8M | Add +2.9% |
| TD Toronto-Dominion Bank | 3.51% | 3,396,972 | $320.6M | Add +4.5% |
| SHOP Shopify Inc. Class A | 3.41% | 1,932,932 | $311.7M | Add +11.7% |
| BN Brookfield Corp. | 1.82% | 3,613,638 | $166.2M | Reduce -8.4% |
| CP Canadian Pacific Kansas City | 1.82% | 2,252,702 | $166.1M | Add +4.9% |
| CNQ Canadian Natural Resources | 1.73% | 4,666,597 | $158.3M | Reduce -9.7% |
| NVDA Nvidia Corp. | 1.64% | 802,128 | $149.6M | Add +8.9% |
| B Barrick Mining Corp. | 1.64% | 3,423,022 | $149.3M | Add +117.0% |
| FNV Franco-Nevada Corp. | 1.43% | 630,703 | $130.9M | Add +6.7% |
| AEM Agnico Eagle Mines Ltd. | 1.43% | 767,180 | $130.3M | Reduce -24.6% |
| ENB Enbridge Inc. | 1.40% | 2,666,336 | $127.8M | Reduce -1.4% |
| GOOGL Alphabet Inc. Class A | 1.31% | 382,808 | $119.8M | Add +15.8% |
| CVE Cenovus Energy Inc. | 1.27% | 6,824,438 | $115.6M | Add +6.8% |
| TRP TC Energy Corp. | 1.24% | 2,055,963 | $113.4M | Add +0.9% |
| WCN Waste Connections Inc. | 1.23% | 641,243 | $112.6M | Add +18.7% |
| AAPL Apple Inc. | 1.23% | 413,092 | $112.3M | Reduce -1.7% |
| OR Or Royalties Inc. | 1.23% | 3,160,518 | $112.1M | Add +1.6% |
| MSFT Microsoft Corp. | 1.20% | 227,053 | $109.8M | Reduce -14.9% |
| RCI Rogers Communications Inc. Class B | 1.16% | 2,797,253 | $105.7M | Add +4.6% |
| HBM Hudbay Minerals Inc. | 1.10% | 5,034,287 | $100.1M | Reduce -20.7% |
| VOE Vngrd Mrngstr MD-Cap Val ETF | 1.06% | 547,312 | $97.1M | Add +34.7% |
| WPM Wheaton Precious Metals Corp. | 1.05% | 810,338 | $95.4M | Add +75.7% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO | 0.99% | 994,736 | $90.3M | Reduce -32.7% |
| CLS Celestica Inc. | 0.93% | 285,710 | $84.6M | Reduce -20.1% |
| IAG Iamgold Corp. | 0.91% | 5,028,974 | $83.1M | Add +29.2% |
| BGSI Boyd Group Services Inc. | 0.89% | 509,542 | $81.3M | New |
| AMZN Amazon.com Inc. | 0.87% | 342,697 | $79.1M | Add +41.1% |
| GIL Gildan Activewear Inc. | 0.77% | 1,126,550 | $70.5M | Add +8.0% |
| CYBR Cyberark Software Ltd./Israel | 0.77% | 158,005 | $70.5M | Add +3.8% |
| MFC Manulife Financial Corp. | 0.76% | 1,896,152 | $69.0M | Add +25.8% |
| BIP Brookfield Infrastructure Pa | 0.70% | 1,842,718 | $64.1M | Add +4.2% |
| AVGO Broadcom Inc. | 0.69% | 181,673 | $62.9M | Reduce -8.4% |
| EA Electronic Arts Inc. | 0.63% | 282,500 | $57.7M | Add +276.7% |
| CIGI Colliers Intl GR-Subord Vot | 0.61% | 375,697 | $55.3M | Add +7.6% |
| DOO BRP Inc./Ca- Sub Voting | 0.54% | 700,057 | $49.6M | Add +116.6% |
| FSV Firstservice Corp. | 0.52% | 307,346 | $47.9M | Reduce -7.3% |
| TECK Teck Resources Ltd.-CLS B | 0.52% | 995,750 | $47.7M | Reduce -11.3% |
| BCE Bce Inc. | 0.51% | 1,963,939 | $46.9M | Add +234.3% |
| BEP Brookfield Renewable Partner | 0.50% | 1,678,827 | $45.4M | Add +56.8% |
| LLY Eli Lilly & Co. | 0.49% | 41,372 | $44.5M | Add +41.4% |
| CCJ Cameco Corp. | 0.48% | 481,834 | $44.2M | Add +5.4% |
| DSGX The Descartes Systems Grp | 0.48% | 496,483 | $43.6M | Add +11.6% |
| SU Suncor Energy Inc. | 0.46% | 954,786 | $42.4M | Add +52.2% |
| META Meta Platforms Inc. Class A | 0.46% | 64,020 | $42.3M | Reduce -6.7% |
| COF Capital One Financial Corp. | 0.45% | 170,385 | $41.3M | Add +2.8% |
| AL Sumisho Air Lease Corp. filed as AIR LEASE CORP | 0.45% | 642,725 | $41.3M | Add +221.4% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.45% | 740,139 | $40.7M | Add +6.6% |
| EXAS Exact Sciences Corp. | 0.45% | 400,000 | $40.6M | New |
| MGA Magna International Inc. | 0.44% | 745,714 | $39.8M | Add +1949.2% |
| DAY Dayforce Inc. | 0.42% | 550,000 | $38.0M | New |
| HOLX Hologic Inc. | 0.41% | 501,214 | $37.3M | Add +3580000.0% |
| SSRM SSR Mining Inc. | 0.41% | 1,696,496 | $37.2M | Reduce -18.5% |
| RKT Rocket Cos Inc. Class A | 0.41% | 1,916,932 | $37.1M | Add +13.1% |
| MS Morgan Stanley | 0.40% | 205,008 | $36.4M | Add +16.9% |
| SCHW Schwab (charles) Corp. | 0.39% | 358,351 | $35.8M | Reduce -5.2% |
| BSX Boston Scientific Corp. | 0.39% | 369,905 | $35.3M | Add +8.8% |
| KKR KKR & Co. Inc. | 0.38% | 274,575 | $35.0M | Add +13.0% |
| KRE SS SPDR S&P Regional Bank | 0.38% | 534,159 | $34.6M | Reduce -9.6% |
| CNI Canadian Natl Railway Co. | 0.37% | 344,448 | $34.1M | Add +97.7% |
| GTLS Chart Industries Inc. | 0.36% | 157,979 | $32.6M | Reduce -1.5% |
| SEE Sealed Air Corp. | 0.35% | 771,800 | $32.0M | New |
| RNAM Avidity Biosciences Inc. | 0.34% | 425,000 | $30.7M | New |
| WMT Walmart Inc. | 0.34% | 274,867 | $30.6M | Add +3.6% |
| MDB Mongodb Inc. | 0.33% | 72,421 | $30.4M | Reduce -29.9% |
| CAE Cae Inc. | 0.32% | 957,687 | $29.2M | New |
| TRI Thomson Reuters Corp. | 0.32% | 218,799 | $28.9M | Reduce -36.2% |
| TSM Taiwan Semiconductor-SP ADR | 0.31% | 92,634 | $28.2M | Add +13.7% |
| TPG TPG Inc. | 0.31% | 440,521 | $28.1M | Add +4.0% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.31% | 182,795 | $28.1M | Add +3.0% |
| ISRG Intuitive Surgical Inc. | 0.30% | 48,586 | $27.5M | Add +15.4% |
| HWM Howmet Aerospace Inc. | 0.30% | 132,595 | $27.2M | Reduce -9.8% |
| SPOT Spotify Technology SA | 0.30% | 46,680 | $27.1M | Add +14.4% |
| RBC RBC Bearings Inc. | 0.30% | 60,433 | $27.1M | Add +9.9% |
| SII Sprott Inc. | 0.29% | 274,262 | $26.9M | Reduce -0.4% |
| TMO Thermo Fisher Scientific Inc. | 0.29% | 45,459 | $26.3M | Add +29.6% |
| MLI Mueller Industries Inc. | 0.29% | 228,022 | $26.2M | Add +2.2% |
| NSC Norfolk Southern Corp. | 0.28% | 90,000 | $26.0M | Add +12.5% |
| URI United Rentals Inc. | 0.28% | 31,360 | $25.4M | Add +3.0% |
| XPO Xpo Inc. | 0.27% | 183,573 | $24.9M | Add +20.9% |
| BA The Boeing Co. | 0.27% | 112,582 | $24.4M | Reduce -2.7% |
| APO Apollo Global Management Inc. | 0.27% | 168,254 | $24.4M | Add +13.1% |
| MA Mastercard Inc. Class A | 0.26% | 41,753 | $23.8M | Add +27.9% |
| SF Stifel Financial Corp. | 0.26% | 188,987 | $23.7M | Add +37.5% |
| SNOW Snowflake Inc. | 0.26% | 107,500 | $23.6M | Add +7.4% |
| BBU Brookfield Business PT-Unit | 0.24% | 627,777 | $22.2M | Reduce -9.9% |
| C Citigroup Inc. | 0.24% | 190,038 | $22.2M | Add +34.5% |
| VTR Ventas Inc. | 0.24% | 284,851 | $22.0M | Add +1.4% |
| AIZ Assurant Inc. | 0.24% | 91,405 | $22.0M | New |
| ADI Analog Devices Inc. | 0.24% | 80,409 | $21.8M | Add +3.2% |
| AQN Algonquin Power & Utilities | 0.24% | 3,519,080 | $21.7M | Add +193.4% |
| CADE Cadence Bank | 0.24% | 505,100 | $21.6M | New |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | 0.23% | 4,000,000 | $21.3M | New |
| NTRA Natera Inc. | 0.23% | 92,113 | $21.1M | Reduce -9.6% |
| ARES Ares Management Corp. Class A | 0.23% | 129,337 | $20.9M | Add +80.3% |
| KO The Coca-Cola Co. | 0.23% | 297,705 | $20.8M | Reduce -3.6% |
| PWR Quanta Services Inc. | 0.22% | 48,054 | $20.3M | Reduce -24.6% |
| GPAT GP-Act III Acquisition-A | 0.22% | 1,875,000 | $20.0M | No change |
| ALF Centurion Acquisition Corp. | 0.22% | 1,875,000 | $20.0M | No change |
| PFGC Performance Food Group Co. | 0.22% | 221,357 | $19.9M | Add +13.6% |
| HD Home Depot Inc. | 0.22% | 57,673 | $19.8M | Add +16.0% |
Options reported separately and not counted above: HYG puts ($993.8M), HYG calls ($604.7M), LQD puts ($551.0M), LQD calls ($551.0M), IWM puts ($295.4M), IEF puts ($240.4M), CLS calls ($70.9M), BSX calls ($57.2M), ZG calls ($53.2M), SNOW calls ($52.6M), DASH calls ($48.9M), ORCL calls ($39.0M), and 12 more.
Other holdings (114): bonds, preferreds, convertibles and warrants · $10.3M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| GROY.WS Gold Royalty Corp. -29 | *W EXP 05/31/202 | 510,000 | $1.0M | No change |
| ALFUW Centurion Acquisition - 29 | *W EXP 05/31/203 | 912,500 | $292K | No change |
| IPCXR Inflection Point Acquisition | RIGHT 04/25/2030 | 750,000 | $284K | No change |
| GPATW GP-Act III Acq Class A -CW27 | *W EXP 05/13/202 | 937,500 | $253K | No change |
| FACWW Cartesian Growth Corp. -30 | *W EXP 05/02/203 | 300,000 | $237K | Reduce -70.0% |
| GSRFR GSR IV Acquisition Corp.-RTS | RIGHT 08/22/2030 | 92,857 | $228K | Reduce -0.1% |
| TONT.WS Graf Global Corp.- 29 | *W EXP 05/31/203 | 502,140 | $227K | No change |
| CRAQR Cal Redwood Acquisition Corp. | RIGHT 05/15/2030 | 650,000 | $210K | No change |
| OYSER Oyster Enterprises II Acquis | RIGHT 05/22/2030 | 1,000,000 | $200K | No change |
| FERAR Fifth Era Acquisition Corp. I | RIGHT 02/21/2030 | 500,000 | $200K | No change |
| CCIXW Churchill Capital Corp. I-29 | *W EXP 03/31/203 | 211,646 | $187K | Reduce -1.9% |
| LPAAW Launch One Acquisition - 29 | *W EXP 06/01/203 | 734,878 | $184K | No change |
| GTENW Gores Holdings X Inc.-31 | *W EXP 05/02/203 | 200,000 | $170K | No change |
| NPACW New Providence Acq A -CW28 | *W EXP 04/24/203 | 333,333 | $168K | No change |
| EQV VENTURES ACQUISITION | *W EXP 07/01/203 | 349,999 | $168K | No change |
| AACBR Artius II Acquisition Inc. | RIGHT 11/27/2029 | 500,000 | $165K | No change |
| GFUZW Spring Valley Acq Co. -30 | *W EXP 09/04/203 | 256,559 | $160K | Reduce -28.0% |
| TACHW Titan Acquisition Corp -30 | *W EXP 05/16/203 | 500,000 | $158K | No change |
| OTGAW Otg Acquisition Corp. I - 30 | *W EXP 09/05/203 | 487,500 | $156K | No change |
| ALDFW Aldel Financial II Inc. - 29 | *W EXP 09/26/203 | 275,000 | $151K | Reduce -26.7% |
| SIMAW Sim Acquisition Corp. - 29 | *W EXP 06/01/203 | 700,000 | $151K | No change |
| RDAGW Republic Digital Acqu - 30 | *W EXP 05/01/203 | 250,000 | $145K | No change |
| POLEW Andretti Acquisition Corp.-29 | *W EXP 06/01/203 | 500,000 | $144K | Reduce -9.1% |
| RNGTW Range Capital Acquisition Co. | *W EXP 09/29/203 | 440,540 | $141K | New |
| MBVIW M3-Brigade Acquisition Vi Co. | *W EXP 08/18/203 | 366,666 | $136K | No change |
| LATAW Galata Acquisition Corp. - 30 | *W EXP 09/12/203 | 333,332 | $133K | No change |
| FIGXW Figx Capital Acquisition Cor | *W EXP 06/17/203 | 500,000 | $133K | No change |
| GIWWR GIGCAPITAL8 Corp.-RTS | RIGHT 09/30/2030 | 425,000 | $132K | New |
| LKSPR Lake Superior Acquisition Co. | RIGHT 09/19/2030 | 71,427 | $130K | New |
| CUBWW Lionheart Holdings - WT | *W EXP 06/07/203 | 750,000 | $128K | No change |
| LPBBW Launch Two Acquisition -29 | *W EXP 10/09/202 | 350,000 | $125K | No change |
| DMIIR Drugs Made in America Acq-RT | RIGHT 09/16/2030 | 875,000 | $123K | No change |
| EVAC.WS Eqv Ventures Acquisition Cor | *W EXP 06/30/203 | 333,332 | $117K | No change |
| PMTRW Perimeter Acquis Corp. I -30 | *W EXP 05/13/203 | 162,500 | $115K | No change |
| TVACW Texas Ventures Acq -31 | *W EXP 04/23/203 | 125,000 | $113K | Reduce -37.5% |
| OBAWW Oxley Bridge Acq Ltd. -30 | *W EXP 06/17/203 | 500,000 | $110K | No change |
| JACKSON ACQUISITION CO II | RIGHT 99/99/9999 | 400,000 | $108K | No change |
| SDHIR Siddhi Acquisition Corp. | RIGHT 09/15/2029 | 500,000 | $108K | No change |
| CHECW Chenghe Acquisition III Co. | *W EXP 09/09/203 | 500,000 | $100K | No change |
| PAII.WS Pyrophyte Acquisition Corp. I | *W EXP 07/30/203 | 250,000 | $100K | No change |
| VLOSW M3-Brigade Acquisition -30 | *W EXP 99/99/999 | 112,500 | $98K | Reduce -69.0% |
| SPEGR Silver Pegasus Acquisition C | RIGHT 06/26/2030 | 350,000 | $95K | No change |
| JENA ACQUISITION CORP II-RTS | RIGHT 03/31/2030 | 500,000 | $93K | No change |
| BCSS.WS Bain Capital GSS Investment | *W EXP 01/01/202 | 140,000 | $91K | No change |
| HCMAW HCM III Acquisition Corp. -30 | *W EXP 07/23/203 | 166,665 | $83K | No change |
| SOULPOWER ACQUISITION CORP | RIGHT 99/99/9999 | 475,000 | $83K | Reduce -5.0% |
| NTWOW Newbury Street II Acq - 29 | *W EXP 06/01/203 | 312,500 | $83K | No change |
| TDWDR Tailwind 2.0 Acquisition-RTS | RIGHT 11/07/2030 | 500,000 | $82K | New |
| BLZRW Trailblazer Acqui Corp. -30 | *W EXP 09/30/203 | 166,665 | $80K | No change |
| CHACR Crane Harbor Acquisition-RTS | RIGHT 04/17/2030 | 100,000 | $80K | No change |
| SZZLR Sizzle Acquisition Corp. -RTS | RIGHT 04/02/2030 | 500,000 | $80K | No change |
| CCAQW Dune Acquisition Corp. II -30 | *W EXP 04/04/203 | 262,500 | $72K | No change |
| SOCAW Solarius Capital Acqui -30 | *W EXP 07/10/203 | 250,000 | $70K | New |
| APXTW Apex Treasury Corp. -30 | *W EXP 10/07/203 | 250,000 | $69K | New |
| ATIIW Archimedes Tech-30 | *W EXP 10/15/202 | 125,000 | $69K | No change |
| NSTR.WS Viking Acquisition Corp. I | *W EXP 11/03/203 | 166,666 | $67K | New |
| BLUWW Blue Water Acquisition-CW26 | *W EXP 05/23/203 | 125,000 | $66K | Reduce -50.0% |
| RAC.WS Rithm Acquisition Corp. - 30 | *W EXP 99/99/999 | 99,999 | $64K | No change |
| NHICW Newhold Investment Corp. - 30 | *W EXP 01/30/203 | 150,000 | $63K | No change |
| ALCWF Alchemy Investments Acqui-28 | *W EXP 11/30/202 | 300,000 | $63K | No change |
| TVAIR Thayer Ventures Acquisition | RIGHT 05/15/2030 | 300,000 | $63K | No change |
| VNMEW Vendome Acquisition Corp. I | *W EXP 07/03/202 | 225,000 | $62K | New |
| LEGT.WS Legato Merger Corp. III-29 | *W EXP 05/08/203 | 150,000 | $62K | Reduce -25.0% |
| KOYNW CSLM Digital Asset Acquisiti | *W EXP 08/28/203 | 175,000 | $61K | No change |
| PACHW Pioneer Acquisition I Corp. | *W EXP 06/16/203 | 250,000 | $60K | No change |
| RAAQW REAL ASSET AQC Corp -30 | *W EXP 04/24/203 | 125,000 | $59K | No change |
| SBXWF Silverbox Corp. IV-A- 29 | *W EXP 08/19/202 | 203,326 | $57K | No change |
| HVIIR Hennessy Capital Investment | RIGHT 01/17/2030 | 200,000 | $56K | Reduce -20.0% |
| FACTW Fact II Acquisition Corp. -29 | *W EXP 11/26/203 | 150,000 | $53K | No change |
| DAAQW Digital Asset Acquisition-30 | *W EXP 04/01/203 | 125,000 | $53K | No change |
| DNMXW Dynamix Corp. III | *W EXP 10/10/203 | 150,000 | $52K | New |
| EVOXW Evolution Global Acquisition | *W EXP 10/22/203 | 125,000 | $51K | New |
| BCARW D Boral Arc Acquisition - 30 | *W EXP 07/23/203 | 137,500 | $50K | New |
| GSHRW Gesher Acquisition Corp. I-30 | *W EXP 10/31/203 | 112,500 | $46K | No change |
| SPKWF Spark I Acquisition Corp.-28 | *W EXP 10/01/203 | 125,000 | $39K | No change |
| WENNW Wen Acquisition Corp.-A -31 | *W EXP 99/99/999 | 125,000 | $39K | No change |
| TDACW Translational Dev -A -CW26 | *W EXP 12/18/202 | 125,000 | $37K | No change |
| AXINR Axiom Intelligence Acquisiti | RIGHT 06/10/2030 | 175,000 | $37K | No change |
| VACHW Voyager Acquisition Corp. -CW | *W EXP 05/16/203 | 175,000 | $36K | No change |
| KFIIR K&F Growth Acquisition Corp. | RIGHT 08/29/2031 | 250,000 | $33K | No change |
| MKLYR McKinley Acquisition Corp. | RIGHT 07/25/2030 | 250,000 | $32K | No change |
| BACCR Blue Acquisition Corp.-RTS | RIGHT 06/11/2030 | 100,000 | $32K | Reduce -60.0% |
| BEAGR Bold Eagle Acquisition Corp. | RIGHT 10/11/2029 | 100,000 | $32K | No change |
| SVCCW Stellar V Capital Corp.-Class-29 | *W EXP 10/15/202 | 100,000 | $31K | No change |
| HVMCW Highview Merger Corp. - 30 | *W EXP 07/24/203 | 100,000 | $27K | No change |
| MLACR Mountain Lake Acquisition Co. | RIGHT 11/15/2028 | 100,000 | $24K | Reduce -60.0% |
| LWACW Lightwave Acquisition Corp. | *W EXP 06/06/203 | 100,000 | $23K | No change |
| MACIW Melar Acquisition Corp. I -29 | *W EXP 06/01/203 | 162,088 | $23K | No change |
| PLMKW Plum Acquisition Corp. IV-30 | *W EXP 08/19/202 | 75,000 | $20K | No change |
| GTERR Globa Terra Acquisition-RTS | RIGHT 06/17/2030 | 150,000 | $20K | New |
| PCAPW Procap Acq Corp. A -30 | *W EXP 05/16/203 | 49,998 | $19K | No change |
| FCRS.WS Futurecrest Acquisition Corp. | *W EXP 09/30/203 | 25,000 | $18K | No change |
| CCIIW Cohen Circle Acq II -30 | *W EXP 07/01/203 | 25,000 | $17K | No change |
| ONCHW 1RT Acquisition Corp.-A -31 | *W EXP 06/26/203 | 25,000 | $15K | No change |
| MCGAW Yorkville Acquisition - 30 | *W EXP 06/06/203 | 28,332 | $14K | No change |
| GTERW Globa Terra Acquisition - 30 | *W EXP 06/17/203 | 112,500 | $14K | New |
| OACCW Oaktree Acquisition III -31 | *W EXP 09/01/203 | 15,000 | $12K | No change |
| EGHAR Egh Acquisition Corp.-RTS | RIGHT 99/99/9999 | 40,000 | $10K | No change |
| SCAGW Scage Future -30 | *W EXP 05/15/203 | 150,000 | $9K | No change |
| DYORW Insight Digital Partners II | *W EXP 10/28/203 | 25,000 | $8K | New |
| AMODW Insight Acquisition Co. -CW23 | *W EXP 12/13/202 | 150,000 | $8K | No change |
| ZOOZW Zooz Strategy Ltd.-29 | *W EXP 04/02/202 | 162,500 | $6K | No change |
| ZEOWW Esgen Acquisition A -CW23 | *W EXP 03/13/202 | 175,000 | $6K | No change |
| BDMDW Baird Medical Investment -28 | *W EXP 10/01/202 | 96,794 | $5K | No change |
| BRLSW Oxus Acquisition Corp. -CW23 | *W EXP 02/07/202 | 75,000 | $4K | No change |
| FUSEW CSLM Holdings Inc. - 30 | *W EXP 10/22/203 | 50,000 | $4K | New |
| BDCIW BTC Development Corp. - 30 | *W EXP 09/11/203 | 5,000 | $3K | No change |
| KRSP.WS Rice Acquisition Corp. 3 | *W EXP 99/99/999 | 4,165 | $3K | New |
| TVGNW Semper Paratus Acqu -CW26 | *W EXP 02/14/202 | 75,000 | $3K | No change |
| ABPWW Atlantic Coast Acq -CW23 | *W EXP 11/12/202 | 125,000 | $2K | No change |
| SLXNW Biomotion Sciences-CW29 | *W EXP 08/15/202 | 57,175 | $1K | No change |
| XBPEW CF Acquisition Viii A -CW27 | *W EXP 11/30/202 | 50,000 | $1K | No change |
| CPTWF Captivision Inc.-28 | *W EXP 11/15/202 | 75,000 | $968 | No change |
| ASBPW Aspire Biopharma Holdin-CW27 | *W EXP 02/14/203 | 50,000 | $825 | No change |
Total filed on the 13F, all lines: $9.1B.
Portfolio Sells Q3 2025 → Q4 2025
| AEM Agnico Eagle Mines Ltd. | Reduce -24.6% | 1.43% | −0.77 |
| BMO Bank of Montreal | Reduce -96.8% | 0.02% | −0.66 |
| TU Telus Corp. | Sold out | 0.00% | −0.58 |
| MSFT Microsoft Corp. | Reduce -14.9% | 1.20% | −0.57 |
| CM Can Imperial BK of Commerce | Reduce -32.7% | 0.99% | −0.53 |
| BN Brookfield Corp. | Reduce -8.4% | 1.82% | −0.50 |
| K Kellanova | Sold out | 0.00% | −0.45 |
| CNQ Canadian Natural Resources | Reduce -9.7% | 1.73% | −0.39 |
| FYBR Frontier Communications Pare | Reduce -93.9% | 0.02% | −0.37 |
| TRI Thomson Reuters Corp. | Reduce -36.2% | 0.32% | −0.37 |
| ENB Enbridge Inc. | Reduce -1.4% | 1.40% | −0.35 |
| CDE Coeur Mining Inc. | Sold out | 0.00% | −0.34 |
| VRNA Verona Pharma Ltd. | Sold out | 0.00% | −0.34 |
| FSV Firstservice Corp. | Reduce -7.3% | 0.52% | −0.29 |
| AVDX Avidxchange Holdings Inc. | Sold out | 0.00% | −0.27 |
| RGA Reinsurance Group of America | Reduce -98.4% | 0.00% | −0.27 |
| IBM Intl Business Machines Corp. | Reduce -98.0% | 0.00% | −0.25 |
| SSRM SSR Mining Inc. | Reduce -18.5% | 0.41% | −0.24 |
| ORCL Oracle Corp. | Sold out | 0.00% | −0.23 |
| DIS The Walt Disney Co. | Sold out | 0.00% | −0.22 |
| CHWY Chewy Inc. Class A | Sold out | 0.00% | −0.21 |
| CLS Celestica Inc. | Reduce -20.1% | 0.93% | −0.20 |
| WNS WNS Holdings Ltd. | Sold out | 0.00% | −0.20 |
| DXCM Dexcom Inc. | Reduce -98.6% | 0.00% | −0.20 |
| RBLX Roblox Corp. Class A | Reduce -87.7% | 0.01% | −0.19 |
| DASH DoorDash Inc. Class A | Reduce -50.3% | 0.10% | −0.19 |
| META Meta Platforms Inc. Class A | Reduce -6.7% | 0.46% | −0.18 |
| SPLV Invesco S&P 500 Low Volatili | Reduce -50.8% | 0.13% | −0.18 |
| LNG Cheniere Energy Inc. | Sold out | 0.00% | −0.17 |
| UFPI Ufp Industries Inc. | Reduce -100.0% | 0.00% | −0.16 |
| SAND Sandstorm Gold Ltd. | Sold out | 0.00% | −0.15 |
| VBTX Veritex Holdings Inc. | Sold out | 0.00% | −0.15 |
| AVGO Broadcom Inc. | Reduce -8.4% | 0.69% | −0.15 |
| ABBV Abbvie Inc. | Reduce -35.3% | 0.18% | −0.15 |
| AAPL Apple Inc. | Reduce -1.7% | 1.23% | −0.14 |
| SVACU Spring Valley Acquisition Co. | Reduce -100.0% | 0.00% | −0.14 |
| NCNO Ncino Inc. | Sold out | 0.00% | −0.14 |
| HBM Hudbay Minerals Inc. | Reduce -20.7% | 1.10% | −0.14 |
| ERO Ero Copper Corp. | Reduce -87.4% | 0.02% | −0.14 |
| OTEX Open Text Corp. | Reduce -88.7% | 0.01% | −0.14 |
| VLOS Velos Acquisition I Corp. | Reduce -94.8% | 0.01% | −0.13 |
| DVN Devon Energy Corp. | Sold out | 0.00% | −0.12 |
| MRUS Merus NV | Sold out | 0.00% | −0.12 |
| PWR Quanta Services Inc. | Reduce -24.6% | 0.22% | −0.12 |
| LBRDK Liberty Broadband-C | Reduce -44.4% | 0.07% | −0.12 |
| HBAN Huntington Bancshares Inc. | Reduce -78.8% | 0.03% | −0.12 |
| TRGP Targa Resources Corp. | Sold out | 0.00% | −0.11 |
| TECK Teck Resources Ltd.-CLS B | Reduce -11.3% | 0.52% | −0.11 |
| CLH Clean Harbors Inc. | Reduce -32.7% | 0.15% | −0.11 |
| NFLX Netflix Inc. | Reduce -8.8% | 0.16% | −0.10 |
Portfolio Buys Q3 2025 → Q4 2025
| B Barrick Mining Corp. | Add +117.0% | 1.64% | +0.97 |
| BGSI Boyd Group Services Inc. | New | 0.89% | +0.89 |
| EXAS Exact Sciences Corp. | New | 0.45% | +0.45 |
| EA Electronic Arts Inc. | Add +276.7% | 0.63% | +0.44 |
| DAY Dayforce Inc. | New | 0.42% | +0.42 |
| MGA Magna International Inc. | Add +1949.2% | 0.44% | +0.41 |
| HOLX Hologic Inc. | Add +3580000.0% | 0.41% | +0.41 |
| WPM Wheaton Precious Metals Corp. | Add +75.7% | 1.05% | +0.38 |
| SEE Sealed Air Corp. | New | 0.35% | +0.35 |
| BCE Bce Inc. | Add +234.3% | 0.51% | +0.34 |
| RNAM Avidity Biosciences Inc. | New | 0.34% | +0.34 |
| CAE Cae Inc. | New | 0.32% | +0.32 |
| DOO BRP Inc./Ca- Sub Voting | Add +116.6% | 0.54% | +0.29 |
| AL Sumisho Air Lease Corp. | Add +221.4% | 0.45% | +0.29 |
| GOOGL Alphabet Inc. Class A | Add +15.8% | 1.31% | +0.28 |
| IAG Iamgold Corp. | Add +29.2% | 0.91% | +0.26 |
| AIZ Assurant Inc. | New | 0.24% | +0.24 |
| CADE Cadence Bank | New | 0.24% | +0.24 |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | New | 0.23% | +0.23 |
| V Visa Inc. Class A | New | 0.20% | +0.20 |
| LLY Eli Lilly & Co. | Add +41.4% | 0.49% | +0.20 |
| WBD Warner Bros Discovery Inc. | New | 0.20% | +0.20 |
| CFLT Confluent Inc. Class A | New | 0.19% | +0.19 |
| MEOH Methanex Corp. | New | 0.18% | +0.18 |
| AMZN Amazon.com Inc. | Add +41.1% | 0.87% | +0.18 |
| CDTX Cidara Therapeutics Inc. | New | 0.18% | +0.18 |
| GH Guardant Health Inc. | New | 0.18% | +0.18 |
| TD Toronto-Dominion Bank | Add +4.5% | 3.51% | +0.17 |
| GRANITE CONSTRUCTION INC (GVA 3.75 05/15/28) | New | 0.17% | +0.17 |
| HI Hillenbrand Inc. | New | 0.17% | +0.17 |
| CNI Canadian Natl Railway Co. | Add +97.7% | 0.37% | +0.16 |
| BRZE Braze Inc. Class A | Add +1692.7% | 0.17% | +0.16 |
| AQN Algonquin Power & Utilities | Add +193.4% | 0.24% | +0.15 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | Add +34.7% | 1.06% | +0.15 |
| MFC Manulife Financial Corp. | Add +25.8% | 0.76% | +0.15 |
| NGD New Gold Inc. | Add +2598.5% | 0.16% | +0.15 |
| TER Teradyne Inc. | New | 0.15% | +0.15 |
| LRCX Lam Research Corp. | New | 0.15% | +0.15 |
| INTC Intel Corp. | New | 0.14% | +0.14 |
| BEP Brookfield Renewable Partner | Add +56.8% | 0.50% | +0.14 |
| SUNC Sunococorp LLC | New | 0.14% | +0.14 |
| TEAM Atlassian Corp. Class A | Add +16497.6% | 0.14% | +0.13 |
| MDT Medtronic PLC | Add +2834.9% | 0.14% | +0.13 |
| CRWD CrowdStrike Holdings Inc. Class A | New | 0.13% | +0.13 |
| LPLA LPL Financial Holdings Inc. | Add +1509.7% | 0.14% | +0.13 |
| SU Suncor Energy Inc. | Add +52.2% | 0.46% | +0.13 |
| JNJ Johnson & Johnson | Add +805071.4% | 0.13% | +0.13 |
| NTR Nutrien Ltd. | Add +495.0% | 0.15% | +0.13 |
| CRM Salesforce Inc. | New | 0.12% | +0.12 |
| GFUZ General Fusion Group Ltd. | New | 0.11% | +0.11 |
Options Activity Q3 2025 → Q4 2025
| ISHARES TR | call | Sold out | 15,000,000 | $1.2Bbefore exit |
| ISHARES TR | put | Sold out | 15,000,000 | $1.2Bbefore exit |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | New | 12,325,000 | $993.8M |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | call | New | 7,500,000 | $604.7M |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | put | New | 5,000,000 | $551.0M |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | call | New | 5,000,000 | $551.0M |
| IWM iShares Russell 2000 ETF | put | New | 1,200,000 | $295.4M |
| IEF iShares 7-10 Year Treasury B | put | New | 2,500,000 | $240.4M |
| ISHARES TR | put | Sold out | 640,000 | $164.1Mbefore exit |
| TESLA INC | put | Sold out | 240,000 | $106.7Mbefore exit |
| WASTE CONNECTIONS INC | call | Sold out | 600,000 | $105.5Mbefore exit |
| THOMSON REUTERS CORP | call | Sold out | 500,000 | $77.6Mbefore exit |
| CLS Celestica Inc. | call | New | 240,000 | $70.9M |
| BSX Boston Scientific Corp. | call | New | 600,000 | $57.2M |
| ZG Zillow Group Inc. Class A | call | New | 780,000 | $53.2M |
| SNOW Snowflake Inc. | call | New | 240,000 | $52.6M |
| DASH DoorDash Inc. Class A | call | New | 216,000 | $48.9M |
| SPOTIFY TECHNOLOGY S A | call | Sold out | 60,000 | $41.9Mbefore exit |
| ORCL Oracle Corp. | call | New | 200,000 | $39.0M |
| CSGP Costar Group Inc. | call | New | 500,000 | $33.6M |
| OKLO INC | put | Sold out | 300,000 | $33.5Mbefore exit |
| GE VERNOVA INC | put | Sold out | 50,000 | $30.7Mbefore exit |
| RNAM Avidity Biosciences Inc. | put | New | 414,400 | $29.9M |
| RSP Invesco S&P 500 Equal Weight | call | New | 150,000 | $28.7M |
| COREWEAVE INC | call | Sold out | 200,000 | $27.4Mbefore exit |
| OPENDOOR TECHNOLOGIES INC | put | Sold out | 3,400,000 | $27.1Mbefore exit |
| TECK RESOURCES LTD | call | Sold out | 600,000 | $26.3Mbefore exit |
| DAY Dayforce Inc. | put | New | 375,000 | $25.9M |
| KELLANOVA | put | Sold out | 300,000 | $24.6Mbefore exit |
| HUBSPOT INC | put | Sold out | 50,000 | $23.4Mbefore exit |
| RDNT Radnet Inc. | call | New | 300,000 | $21.4M |
| EXAS Exact Sciences Corp. | put | New | 200,000 | $20.3M |
| ROCKET COS INC | call | Sold out | 1,000,000 | $19.4Mbefore exit |
| REINSURANCE GRP OF AMERICA I | call | Sold out | 100,000 | $19.2Mbefore exit |
| TU Telus Corp. | call | New | 1,200,000 | $15.8M |
| CONFLUENT INC | call | Sold out | 750,000 | $14.8Mbefore exit |
| SYNOPSYS INC | call | Sold out | 29,500 | $14.6Mbefore exit |
| APPN Appian Corp. Class A | put | New | 400,000 | $14.2M |
| DIGITALOCEAN HLDGS INC | call | Sold out | 400,000 | $13.7Mbefore exit |
| BELLRING BRANDS INC | call | Sold out | 360,000 | $13.1Mbefore exit |
| ADMA BIOLOGICS INC | call | Sold out | 780,000 | $11.4Mbefore exit |
| CDTX Cidara Therapeutics Inc. | put | New | 50,000 | $11.0M |
| LEMONADE INC | put | Sold out | 200,000 | $10.7Mbefore exit |
| EXAS Exact Sciences Corp. | call | New | 100,000 | $10.2M |
| GLD SPDR Gold Shares | put | New | 12,000 | $4.8M |
| SLV iShares Silver Trust | put | New | 16,000 | $1.0M |
| LIQUIDIA CORPORATION | put | Sold out | 3,500 | $80Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2025 → Q4 2025
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | Sold out | 10,000,000 | $16.2Mbefore exit |
| GRANITE CONSTRUCTION INC (GVA 3.75 05/15/28) | NOTE 3.750% 5/1 · principal | Sold out | 4,000,000 | $9.6Mbefore exit |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | Sold out | 10,000,000 | $9.4Mbefore exit |
| ANI PHARMACEUTICALS INC (ANIP 2.25 09/01/29) | NOTE 2.250% 9/0 · principal | Sold out | 4,000,000 | $5.6Mbefore exit |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | Sold out | 2,000,000 | $2.2Mbefore exit |
| IMSRW HCM II Acquisition Corp. - 29 | *W EXP 99/99/999 | Sold out | 59,282 | $355Kbefore exit |
| HDRNW GIGCAPITAL7 Corp.-A - 29 | *W EXP 08/29/202 | Sold out | 582,500 | $262Kbefore exit |
| FACWW Cartesian Growth Corp. -30 | *W EXP 05/02/203 | Reduce -70.0% | 300,000 | $237K |
| GSRFR GSR IV Acquisition Corp.-RTS | RIGHT 08/22/2030 | Reduce -0.1% | 92,857 | $228K |
| CCIXW Churchill Capital Corp. I-29 | *W EXP 03/31/203 | Reduce -1.9% | 211,646 | $187K |
| GFUZW Spring Valley Acq Co. -30 | *W EXP 09/04/203 | Reduce -28.0% | 256,559 | $160K |
| INFQ.WS Churchill Capital Corp. X | *W EXP 05/14/203 | Sold out | 45,000 | $159Kbefore exit |
| ALDFW Aldel Financial II Inc. - 29 | *W EXP 09/26/203 | Reduce -26.7% | 275,000 | $151K |
| POLEW Andretti Acquisition Corp.-29 | *W EXP 06/01/203 | Reduce -9.1% | 500,000 | $144K |
| RNGTW Range Capital Acquisition Co. | *W EXP 09/29/203 | New | 440,540 | $141K |
| GIWWR GIGCAPITAL8 Corp.-RTS | RIGHT 09/30/2030 | New | 425,000 | $132K |
| LKSPR Lake Superior Acquisition Co. | RIGHT 09/19/2030 | New | 71,427 | $130K |
| TMSWW Live Oak Acquisition Co.-CW29 | *W EXP 99/99/999 | Sold out | 250,000 | $122Kbefore exit |
| TVACW Texas Ventures Acq -31 | *W EXP 04/23/203 | Reduce -37.5% | 125,000 | $113K |
| ISLWF Israel Acquisitions Corp.-28 | *W EXP 99/99/999 | Sold out | 550,000 | $100Kbefore exit |
| VLOSW M3-Brigade Acquisition -30 | *W EXP 99/99/999 | Reduce -69.0% | 112,500 | $98K |
| XRPNW Armada Acquisition Corp - A | *W EXP 05/21/203 | Sold out | 100,000 | $95Kbefore exit |
| SOULPOWER ACQUISITION CORP | RIGHT 99/99/9999 | Reduce -5.0% | 475,000 | $83K |
| TDWDR Tailwind 2.0 Acquisition-RTS | RIGHT 11/07/2030 | New | 500,000 | $82K |
| DYNCW Dynamix Corp. - 29 | *W EXP 10/25/202 | Sold out | 37,500 | $79Kbefore exit |
| KDKRW Ares Acquisition Corp. II-28 | *W EXP 09/25/203 | Sold out | 73,880 | $78Kbefore exit |
| SOCAW Solarius Capital Acqui -30 | *W EXP 07/10/203 | New | 250,000 | $70K |
| WLACW Willow Lane Acquisition - 29 | *W EXP 10/31/203 | Sold out | 25,000 | $70Kbefore exit |
| APXTW Apex Treasury Corp. -30 | *W EXP 10/07/203 | New | 250,000 | $69K |
| BACQR Inflection Point Acquisition | RIGHT 11/04/2026 | Sold out | 100,000 | $68Kbefore exit |
| NSTR.WS Viking Acquisition Corp. I | *W EXP 11/03/203 | New | 166,666 | $67K |
| BLUWW Blue Water Acquisition-CW26 | *W EXP 05/23/203 | Reduce -50.0% | 125,000 | $66K |
| VNMEW Vendome Acquisition Corp. I | *W EXP 07/03/202 | New | 225,000 | $62K |
| LEGT.WS Legato Merger Corp. III-29 | *W EXP 05/08/203 | Reduce -25.0% | 150,000 | $62K |
| HVIIR Hennessy Capital Investment | RIGHT 01/17/2030 | Reduce -20.0% | 200,000 | $56K |
| DNMXW Dynamix Corp. III | *W EXP 10/10/203 | New | 150,000 | $52K |
| EVOXW Evolution Global Acquisition | *W EXP 10/22/203 | New | 125,000 | $51K |
| BCARW D Boral Arc Acquisition - 30 | *W EXP 07/23/203 | New | 137,500 | $50K |
| DRDBW Roman DBDR Acquisition -30 | *W EXP 10/31/203 | Sold out | 87,500 | $46Kbefore exit |
| HYAC.WS Haymaker Acquisition Corp.-28 | *W EXP 05/31/202 | Sold out | 100,000 | $45Kbefore exit |
| BACCR Blue Acquisition Corp.-RTS | RIGHT 06/11/2030 | Reduce -60.0% | 100,000 | $32K |
| BOWNR Bowen Acquisition Corp.-RTS | RIGHT 99/99/9999 | Sold out | 125,000 | $28Kbefore exit |
| RTACW Renatus Tactical Acqu - 30 | *W EXP 05/15/203 | Sold out | 22,500 | $27Kbefore exit |
| MLACR Mountain Lake Acquisition Co. | RIGHT 11/15/2028 | Reduce -60.0% | 100,000 | $24K |
| GTERR Globa Terra Acquisition-RTS | RIGHT 06/17/2030 | New | 150,000 | $20K |
| GTERW Globa Terra Acquisition - 30 | *W EXP 06/17/203 | New | 112,500 | $14K |
| NETDW Nabors Energy Transiti-CW | *W EXP 09/01/202 | Sold out | 50,000 | $13Kbefore exit |
| DYORW Insight Digital Partners II | *W EXP 10/28/203 | New | 25,000 | $8K |
| RFAIR RF Acquisition Corp. II | RIGHT 05/01/2026 | Sold out | 100,000 | $8Kbefore exit |
| OPTXW Omnilit Acquisition Class A -23 | *W EXP 99/99/999 | Sold out | 75,000 | $6Kbefore exit |
Showing the first 50 of 54.
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 | 1,185 | $10.8B | RY, TD, SHOP, CP, BN |
| Q1 2026 | 1,067 | $9.6B | RY, TD, CNQ, SHOP, AEM |
| Q4 2025 | 1,060 | $9.1B | RY, TD, SHOP, BN, CP |
| Q3 2025 | 938 | $7.8B | RY, TD, SHOP, BN, AEM |
| Q2 2025 | 870 | $7.1B | RY, TD, SHOP, CP, CNQ |
| Q1 2025 | 841 | $2.9B | NVDA, MSFT, AAPL, ITCI, AMZN |
| Q4 2024Amended | 765 | $2.6B | NVDA, MSFT, AMZN, K, SMAR |
| Q3 2024 | 765 | $2.6B | NVDA, AAPL, MSFT, K, SMAR |
| Q2 2024 | 530 | $2.3B | NVDA, AAPL, MSFT, AMZN, LLY |
| Q1 2024 | 299 | $2.4B | PXD, MSFT, NVDA, AMZN, IWN |