Picton Mahoney Asset Management
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 13, 2026), Picton Mahoney Asset Management reported 1,067 stock positions worth $9.6 billion. Its top holding was Royal Bank of Canada (RY) at 4.5% of the portfolio, followed by Toronto-Dominion Bank (TD, 3.6%) and Canadian Natural Resources (CNQ, 2.7%). Compared with Q4 2025, it opened 215 new positions, sold out of 208, added to 342 and reduced 184. The biggest buy was Suncor Energy (SU, shares +201%) and the biggest sale an exit from Vngrd Mrngstr MD-Cap Val ETF (VOE).
- Most Recent 13F
- Q2 2026
- Location
- Toronto, A6
- CIK
- 0001539041
- Portfolio Value
- $9.6B (Q1 2026)
- SEC Filing
- 0001539041-26-000013 ↗ filed May 13, 2026
Holdings Value
Holdings 1,067 stocks · $9.6B
| RY Royal Bank of Canada | 4.47% | 2,654,433 | $429.2M | Add +0.1% |
| TD Toronto-Dominion Bank | 3.65% | 3,746,718 | $350.0M | Add +10.3% |
| CNQ Canadian Natural Resources | 2.74% | 5,381,403 | $262.5M | Add +15.3% |
| SHOP Shopify Inc. Class A | 2.64% | 2,135,617 | $253.5M | Add +10.5% |
| AEM Agnico Eagle Mines Ltd. | 2.05% | 968,916 | $196.7M | Add +26.3% |
| CP Canadian Pacific Kansas City | 2.03% | 2,479,436 | $195.2M | Add +10.1% |
| SU Suncor Energy Inc. | 1.98% | 2,874,698 | $190.2M | Add +201.1% |
| FNV Franco-Nevada Corp. | 1.96% | 759,289 | $188.1M | Add +20.4% |
| NVDA Nvidia Corp. | 1.62% | 889,790 | $155.2M | Add +10.9% |
| ENB Enbridge Inc. | 1.57% | 2,780,513 | $150.7M | Add +4.3% |
| BN Brookfield Corp. | 1.54% | 3,655,199 | $148.2M | Add +1.1% |
| TRP TC Energy Corp. | 1.35% | 2,064,368 | $129.1M | Add +0.4% |
| CVE Cenovus Energy Inc. | 1.34% | 4,867,402 | $128.8M | Reduce -28.7% |
| OR Or Royalties Inc. | 1.33% | 3,340,194 | $127.2M | Add +5.7% |
| GOOGL Alphabet Inc. Class A | 1.24% | 413,828 | $119.0M | Add +8.1% |
| RCI Rogers Communications Inc. Class B | 1.20% | 2,992,163 | $115.1M | Add +7.0% |
| B Barrick Mining Corp. | 1.19% | 2,790,362 | $114.1M | Reduce -18.5% |
| WPM Wheaton Precious Metals Corp. | 1.10% | 805,623 | $105.8M | Reduce -0.6% |
| AAPL Apple Inc. | 1.07% | 405,360 | $102.9M | Reduce -1.9% |
| CLS Celestica Inc. | 0.97% | 330,699 | $93.3M | Add +15.8% |
| IAG Iamgold Corp. | 0.93% | 4,758,754 | $89.5M | Reduce -5.4% |
| SLF Sun Life Financial Inc. | 0.90% | 1,374,917 | $86.2M | New |
| HBM Hudbay Minerals Inc. | 0.82% | 3,758,830 | $78.7M | Reduce -25.3% |
| AMZN Amazon.com Inc. | 0.79% | 362,073 | $75.4M | Add +5.7% |
| MSFT Microsoft Corp. | 0.77% | 199,360 | $73.8M | Reduce -12.2% |
| RSP Invesco S&P 500 Equal Weight | 0.76% | 381,604 | $73.2M | Add +2679.8% |
| WCN Waste Connections Inc. | 0.74% | 439,114 | $71.4M | Reduce -31.5% |
| BGSI Boyd Group Services Inc. | 0.73% | 550,447 | $70.3M | Add +8.0% |
| TECK Teck Resources Ltd.-CLS B | 0.73% | 1,349,983 | $69.9M | Add +35.6% |
| SPLV Invesco S&P 500 Low Volatili | 0.73% | 951,612 | $69.6M | Add +488.8% |
| CCJ Cameco Corp. | 0.68% | 597,374 | $64.9M | Add +24.0% |
| BEP Brookfield Renewable Partner | 0.64% | 1,878,324 | $61.3M | Add +11.9% |
| AVGO Broadcom Inc. | 0.62% | 192,152 | $59.5M | Add +5.8% |
| GIL Gildan Activewear Inc. | 0.58% | 991,564 | $55.2M | Reduce -12.0% |
| MGA Magna International Inc. | 0.56% | 958,016 | $53.5M | Add +28.5% |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | 0.53% | 5,000,000 | $50.4M | Add +25.0% |
| HOLX Hologic Inc. | 0.51% | 650,514 | $49.2M | Add +29.8% |
| AL Sumisho Air Lease Corp. filed as AIR LEASE CORP | 0.47% | 698,572 | $45.4M | Add +8.7% |
| PAAS Pan American Silver Corp. | 0.46% | 810,557 | $44.4M | Add +5990.3% |
| BIP Brookfield Infrastructure Pa | 0.45% | 1,203,560 | $43.4M | Reduce -34.7% |
| SEE Sealed Air Corp. | 0.44% | 1,003,539 | $42.2M | Add +30.0% |
| EA Electronic Arts Inc. | 0.43% | 204,600 | $41.7M | Reduce -27.6% |
| CAE Cae Inc. | 0.42% | 1,554,416 | $40.5M | Add +62.3% |
| GTLS Chart Industries Inc. | 0.42% | 192,779 | $39.9M | Add +22.0% |
| DSGX The Descartes Systems Grp | 0.41% | 553,578 | $39.7M | Add +11.5% |
| JPM JPMorgan Chase & Co. | 0.39% | 127,375 | $37.5M | Add +114.0% |
| DOO BRP Inc./Ca- Sub Voting | 0.38% | 512,818 | $36.9M | Reduce -26.8% |
| MFC Manulife Financial Corp. | 0.38% | 1,058,547 | $36.5M | Reduce -44.2% |
| FSV Firstservice Corp. | 0.35% | 244,183 | $34.0M | Reduce -20.6% |
| TSM Taiwan Semiconductor-SP ADR | 0.35% | 99,636 | $33.7M | Add +7.6% |
| SCHW Schwab (charles) Corp. | 0.35% | 353,629 | $33.2M | Reduce -1.3% |
| RBC RBC Bearings Inc. | 0.34% | 60,623 | $32.9M | Add +0.3% |
| BMO Bank of Montreal filed as BANK MONTREAL MEDIUM | 0.34% | 237,936 | $32.2M | Add +1732.7% |
| MS Morgan Stanley | 0.32% | 186,230 | $30.6M | Reduce -9.2% |
| META Meta Platforms Inc. Class A | 0.32% | 53,531 | $30.6M | Reduce -16.4% |
| LLY Eli Lilly & Co. | 0.32% | 32,987 | $30.3M | Reduce -20.3% |
| HWM Howmet Aerospace Inc. | 0.31% | 130,545 | $30.1M | Reduce -1.6% |
| AQN Algonquin Power & Utilities | 0.31% | 4,880,746 | $29.9M | Add +38.7% |
| PWR Quanta Services Inc. | 0.30% | 52,789 | $29.0M | Add +9.8% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.30% | 181,324 | $29.0M | Reduce -0.8% |
| KKR KKR & Co. Inc. | 0.29% | 302,038 | $27.9M | Add +10.0% |
| COF Capital One Financial Corp. | 0.29% | 150,492 | $27.5M | Reduce -11.7% |
| CAH Cardinal Health Inc. | 0.28% | 129,134 | $27.3M | Add +97.7% |
| KO The Coca-Cola Co. | 0.28% | 358,012 | $27.2M | Add +20.3% |
| ADI Analog Devices Inc. | 0.28% | 84,552 | $26.9M | Add +5.2% |
| TER Teradyne Inc. | 0.28% | 89,026 | $26.4M | Add +25.4% |
| PEN Penumbra Inc. | 0.27% | 80,000 | $26.3M | New |
| XPO Xpo Inc. | 0.27% | 132,878 | $25.9M | Reduce -27.6% |
| WMT Walmart Inc. | 0.27% | 205,676 | $25.6M | Reduce -25.2% |
| AU Anglogold Ashanti PLC | 0.27% | 261,357 | $25.4M | New |
| BA The Boeing Co. | 0.26% | 126,912 | $25.3M | Add +12.7% |
| SNDK Sandisk Corp. | 0.26% | 39,496 | $25.1M | Reduce -6.3% |
| PPL PPL Corp. | 0.26% | 647,653 | $24.7M | Add +15.8% |
| VTR Ventas Inc. | 0.26% | 302,350 | $24.7M | Add +6.1% |
| NET Cloudflare Inc. Class A | 0.26% | 119,286 | $24.6M | Add +26.4% |
| TEVA Teva Pharmaceutical-SP ADR | 0.25% | 810,218 | $24.4M | Add +39.5% |
| CNI Canadian Natl Railway Co. | 0.25% | 234,955 | $24.2M | Reduce -31.8% |
| SPOT Spotify Technology SA | 0.25% | 49,561 | $24.0M | Add +6.2% |
| GH Guardant Health Inc. | 0.24% | 249,991 | $23.1M | Add +57.2% |
| HD Home Depot Inc. | 0.24% | 69,244 | $22.8M | Add +20.1% |
| RKT Rocket Cos Inc. Class A | 0.23% | 1,578,770 | $22.5M | Reduce -17.6% |
| MCO Moody's Corp. | 0.23% | 50,782 | $22.2M | Add +6781.0% |
| LPLA LPL Financial Holdings Inc. | 0.23% | 73,050 | $22.0M | Add +106.3% |
| TMO Thermo Fisher Scientific Inc. | 0.23% | 44,543 | $21.9M | Reduce -2.0% |
| JHG Janus Henderson Group PLC | 0.23% | 425,031 | $21.8M | Add +142.8% |
| V Visa Inc. Class A | 0.23% | 71,745 | $21.7M | Add +36.9% |
| SII Sprott Inc. | 0.22% | 151,114 | $21.6M | Reduce -44.9% |
| NSC Norfolk Southern Corp. | 0.22% | 75,000 | $21.5M | Reduce -16.7% |
| AMD Advanced Micro Devices | 0.22% | 105,430 | $21.4M | Add +191.9% |
| HAS Hasbro Inc. | 0.22% | 226,607 | $21.2M | Add +4.8% |
| ISRG Intuitive Surgical Inc. | 0.22% | 45,961 | $21.2M | Reduce -5.4% |
| AON Aon PLC Class A | 0.21% | 63,005 | $20.3M | Add +12.3% |
| CDE Coeur Mining Inc. | 0.21% | 1,079,102 | $20.2M | New |
| ALF Centurion Acquisition Corp. | 0.21% | 1,875,000 | $20.2M | No change |
| AIZ Assurant Inc. | 0.21% | 92,412 | $20.1M | Add +1.1% |
| WBD Warner Bros Discovery Inc. | 0.21% | 727,800 | $20.0M | Add +16.4% |
| CGAU Centerra Gold Inc. | 0.20% | 1,100,036 | $19.5M | New |
| TRI Thomson Reuters Corp. | 0.20% | 215,779 | $19.5M | Reduce -1.4% |
| AME Ametek Inc. | 0.20% | 90,626 | $19.4M | Reduce -2.3% |
| VLY Valley National Bancorp | 0.20% | 1,571,575 | $19.3M | Add +15.6% |
Options reported separately and not counted above: HYG puts ($1.4B), LQD puts ($545.0M), HYG calls ($397.8M), LQD calls ($272.5M), TLT calls ($173.4M), EEM calls ($136.3M), MTUM puts ($124.8M), GDX calls ($102.8M), TECK calls ($98.3M), KRE calls ($52.1M), INTU calls ($51.9M), MU calls ($50.7M), and 27 more.
Other holdings (132): bonds, preferreds, convertibles and warrants · $9.2M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| GROY.WS Gold Royalty Corp. -29 | *W EXP 05/31/202 | 510,000 | $842K | No change |
| IPCXR Inflection Point Acquisition | RIGHT 04/25/2030 | 750,000 | $263K | No change |
| GSRFR GSR IV Acquisition Corp.-RTS | RIGHT 08/22/2030 | 92,857 | $228K | No change |
| SIMAW Sim Acquisition Corp. - 29 | *W EXP 06/01/203 | 700,000 | $175K | No change |
| AEAQW Activate Energy Acquisition | *W EXP 11/10/203 | 512,500 | $169K | No change |
| HCACR Hall Chadwick Acquisi-Rights | RIGHT 11/20/2030 | 700,000 | $168K | No change |
| TACHW Titan Acquisition Corp -30 | *W EXP 05/16/203 | 500,000 | $166K | No change |
| RNGTW Range Capital Acquisition Co. | *W EXP 09/29/203 | 440,540 | $158K | No change |
| AACBR Artius II Acquisition Inc. | RIGHT 11/27/2029 | 500,000 | $151K | No change |
| FERAR Fifth Era Acquisition Corp. I | RIGHT 02/21/2030 | 500,000 | $150K | No change |
| CRAQR Cal Redwood Acquisition Corp. | RIGHT 05/15/2030 | 650,000 | $143K | No change |
| FIGXW Figx Capital Acquisition Cor | *W EXP 06/17/203 | 500,000 | $135K | No change |
| GPATW GP-Act III Acq Class A -CW27 | *W EXP 05/13/202 | 937,500 | $131K | No change |
| GIWWR GIGCAPITAL8 Corp.-RTS | RIGHT 09/30/2030 | 425,000 | $128K | No change |
| MBVIW M3-Brigade Acquisition Vi Co. | *W EXP 08/18/203 | 366,666 | $127K | No change |
| CHECW Chenghe Acquisition III Co. | *W EXP 09/09/203 | 500,000 | $120K | No change |
| GPACW General Purpose Acquisition | *W EXP 12/03/203 | 500,000 | $120K | No change |
| ALFUW Centurion Acquisition - 29 | *W EXP 05/31/203 | 912,500 | $113K | No change |
| RDAGW Republic Digital Acqu - 30 | *W EXP 05/01/203 | 250,000 | $110K | No change |
| SDHIR Siddhi Acquisition Corp. | RIGHT 09/15/2029 | 500,000 | $103K | No change |
| LPAAW Launch One Acquisition - 29 | *W EXP 06/01/203 | 734,878 | $101K | No change |
| LATAW Galata Acquisition Corp. - 30 | *W EXP 09/12/203 | 333,332 | $100K | No change |
| EVAC.WS Eqv Ventures Acquisition Cor | *W EXP 06/30/203 | 333,332 | $100K | No change |
| GTENW Gores Holdings X Inc.-31 | *W EXP 05/02/203 | 200,000 | $100K | No change |
| OBAWW Oxley Bridge Acq Ltd. -30 | *W EXP 06/17/203 | 500,000 | $100K | No change |
| OYSER Oyster Enterprises II Acquis | RIGHT 05/22/2030 | 800,000 | $100K | Reduce -20.0% |
| IRHOR Iron Horse Acquisiti- Rights | RIGHT 07/11/2030 | 900,000 | $99K | No change |
| PMTRW Perimeter Acquis Corp. I -30 | *W EXP 05/13/203 | 162,500 | $98K | No change |
| OTGAW Otg Acquisition Corp. I - 30 | *W EXP 09/05/203 | 387,500 | $97K | Reduce -20.5% |
| TDWDR Tailwind 2.0 Acquisition-RTS | RIGHT 11/07/2030 | 500,000 | $95K | No change |
| SPEGR Silver Pegasus Acquisition C | RIGHT 06/26/2030 | 350,000 | $87K | No change |
| BCSS.WS Bain Capital GSS Investment | *W EXP 01/01/202 | 140,000 | $87K | No change |
| CUBWW Lionheart Holdings - WT | *W EXP 06/07/203 | 750,000 | $86K | No change |
| SOULPOWER ACQUISITION CORP | RIGHT 99/99/9999 | 475,000 | $86K | No change |
| CRANR Crane Harbor Acquisition-RTS | RIGHT 12/09/2030 | 500,000 | $85K | No change |
| JENA ACQUISITION CORP II-RTS | RIGHT 03/31/2030 | 500,000 | $85K | No change |
| SZZLR Sizzle Acquisition Corp. -RTS | RIGHT 04/02/2030 | 500,000 | $85K | No change |
| ALUB.WS Alussa Energy Acquisition-30 | *W EXP 99/99/999 | 233,332 | $84K | No change |
| PAII.WS Pyrophyte Acquisition Corp. I | *W EXP 07/30/203 | 250,000 | $83K | No change |
| LKSPR Lake Superior Acquisition Co. | RIGHT 09/19/2030 | 71,427 | $82K | No change |
| ITHAW Ithax Acquisition Corp. III | *W EXP 11/17/203 | 330,344 | $79K | No change |
| IGACR Invest Green Acquisition-RTS | RIGHT 11/17/2030 | 500,000 | $79K | No change |
| ALDFW Aldel Financial II Inc. - 29 | *W EXP 09/26/203 | 225,000 | $79K | Reduce -18.2% |
| ADACW American Dr Acq A -30 | *W EXP 02/06/203 | 249,999 | $75K | No change |
| HCMAW HCM III Acquisition Corp. -30 | *W EXP 07/23/203 | 166,665 | $75K | No change |
| BIXIW Bitcoin Infrastructure Acqui | *W EXP 11/06/203 | 250,000 | $74K | No change |
| LFACW Leapfrog Acquisition Corp. | *W EXP 11/10/203 | 250,250 | $73K | No change |
| BEBE.WS Tge Value Creative Solutions | *W EXP 09/16/203 | 250,000 | $73K | No change |
| SBXE.WS Silverbox Corp. V | *W EXP 09/16/203 | 166,666 | $71K | No change |
| KBONW Karbon Capital Partners Corp. | *W EXP 12/11/203 | 175,000 | $70K | No change |
| DMIIR Drugs Made in America Acq-RT | RIGHT 09/16/2030 | 875,000 | $70K | No change |
| SAC.WS Safeguard Acquisition Corp. | *W EXP 99/99/999 | 169,200 | $68K | No change |
| BLZRW Trailblazer Acqui Corp. -30 | *W EXP 09/30/203 | 166,665 | $66K | No change |
| TONT.WS Graf Global Corp.- 29 | *W EXP 05/31/203 | 502,140 | $65K | No change |
| SOCAW Solarius Capital Acqui -30 | *W EXP 07/10/203 | 250,000 | $65K | No change |
| TWLVR Twelve Seas Investment Co. II | RIGHT 11/21/2030 | 400,000 | $64K | No change |
| RAC.WS Rithm Acquisition Corp. - 30 | *W EXP 99/99/999 | 99,999 | $64K | No change |
| ATIIW Archimedes Tech-30 | *W EXP 10/15/202 | 125,000 | $64K | No change |
| NPACW New Providence Acq A -CW28 | *W EXP 04/24/203 | 333,333 | $64K | No change |
| BLUWW Blue Water Acquisition-CW26 | *W EXP 05/23/203 | 125,000 | $63K | No change |
| NHICW Newhold Investment Corp. - 30 | *W EXP 01/30/203 | 150,000 | $62K | No change |
| FACWW Cartesian Growth Corp. -30 | *W EXP 05/02/203 | 87,249 | $61K | Reduce -70.9% |
| APXTW Apex Treasury Corp. -30 | *W EXP 10/07/203 | 250,000 | $60K | No change |
| FACTW Fact II Acquisition Corp. -29 | *W EXP 11/26/203 | 150,000 | $60K | No change |
| TVAIR Thayer Ventures Acquisition | RIGHT 05/15/2030 | 300,000 | $60K | No change |
| CCIXW Churchill Capital Corp. I-29 | *W EXP 03/31/203 | 131,346 | $59K | Reduce -37.9% |
| MESHW Meshflow Acquisition Corp. | *W EXP 11/20/203 | 233,332 | $59K | No change |
| TVACW Texas Ventures Acq -31 | *W EXP 04/23/203 | 125,000 | $57K | No change |
| CCAQW Dune Acquisition Corp. II -30 | *W EXP 04/04/203 | 212,500 | $57K | Reduce -19.1% |
| HVIIR Hennessy Capital Investment | RIGHT 01/17/2030 | 200,000 | $57K | No change |
| NTWOW Newbury Street II Acq - 29 | *W EXP 06/01/203 | 312,500 | $56K | No change |
| VNMEW Vendome Acquisition Corp. I | *W EXP 07/03/202 | 225,000 | $56K | No change |
| POLEW Andretti Acquisition Corp.-29 | *W EXP 06/01/203 | 500,000 | $55K | No change |
| BLRKW Bluerock Acquisition Corp. | *W EXP 12/12/203 | 166,666 | $55K | No change |
| LPBBW Launch Two Acquisition -29 | *W EXP 10/09/202 | 350,000 | $55K | No change |
| CCXIW Churchill Capital Corp. Xi | *W EXP 12/10/203 | 75,000 | $54K | No change |
| LAFAR Lafayette Acquisition Corp. | RIGHT 10/24/2030 | 431,115 | $52K | No change |
| EVOXW Evolution Global Acquisition | *W EXP 10/22/203 | 125,000 | $50K | No change |
| LEGT.WS Legato Merger Corp. III-29 | *W EXP 05/08/203 | 100,000 | $50K | Reduce -33.3% |
| NSTR.WS Viking Acquisition Corp. I | *W EXP 11/03/203 | 166,666 | $49K | No change |
| ALCWF Alchemy Investments Acqui-28 | *W EXP 11/30/202 | 300,000 | $48K | No change |
| JACKSON ACQUISITION CO II | RIGHT 99/99/9999 | 400,000 | $46K | No change |
| SBXWF Silverbox Corp. IV-A- 29 | *W EXP 08/19/202 | 203,326 | $46K | No change |
| KOYNW CSLM Digital Asset Acquisiti | *W EXP 08/28/203 | 175,000 | $46K | No change |
| KFIIR K&F Growth Acquisition Corp. | RIGHT 08/29/2031 | 250,000 | $45K | No change |
| PACHW Pioneer Acquisition I Corp. | *W EXP 06/16/203 | 250,000 | $45K | No change |
| DNMXW Dynamix Corp. III | *W EXP 10/10/203 | 150,000 | $45K | No change |
| BIII.WS Black Spade Acquisition III | *W EXP 99/99/999 | 124,999 | $44K | New |
| WENNW Wen Acquisition Corp.-A -31 | *W EXP 99/99/999 | 125,000 | $40K | No change |
| ZKPW Lafayette Digital Acqu - 31 | *W EXP 12/23/203 | 125,000 | $35K | New |
| VLOSW M3-Brigade Acquisition -30 | *W EXP 99/99/999 | 112,500 | $34K | No change |
| AXINR Axiom Intelligence Acquisiti | RIGHT 06/10/2030 | 175,000 | $33K | No change |
| VHCPW Vine Hill Capital Investment | *W EXP 11/25/203 | 83,332 | $32K | No change |
| BACCR Blue Acquisition Corp.-RTS | RIGHT 06/11/2030 | 100,000 | $30K | No change |
| MKLYR McKinley Acquisition Corp. | RIGHT 07/25/2030 | 250,000 | $30K | No change |
| DSACW Daedalus Spec Acq -30 | *W EXP 11/24/203 | 75,000 | $30K | No change |
| GSHRW Gesher Acquisition Corp. I-30 | *W EXP 10/31/203 | 112,500 | $30K | No change |
| DAAQW Digital Asset Acquisition-30 | *W EXP 04/01/203 | 75,000 | $28K | Reduce -40.0% |
| VACHW Voyager Acquisition Corp. -CW | *W EXP 05/16/203 | 175,000 | $26K | No change |
| MLACR Mountain Lake Acquisition Co. | RIGHT 11/15/2028 | 100,000 | $26K | No change |
| HVMCW Highview Merger Corp. - 30 | *W EXP 07/24/203 | 100,000 | $25K | No change |
| NWAX.WS New America Acquisition I Co. | *W EXP 99/99/999 | 50,000 | $25K | No change |
| PLMKW Plum Acquisition Corp. IV-30 | *W EXP 08/19/202 | 50,000 | $25K | Reduce -33.3% |
| LWACW Lightwave Acquisition Corp. | *W EXP 06/06/203 | 100,000 | $24K | No change |
| SPKWF Spark I Acquisition Corp.-28 | *W EXP 10/01/203 | 125,000 | $23K | No change |
| SCIIR SC II Acquisition Corp.-RT | RIGHT 11/26/2030 | 100,000 | $22K | No change |
| SVCCW Stellar V Capital Corp.-Class-29 | *W EXP 10/15/202 | 100,000 | $22K | No change |
| BEAGR Bold Eagle Acquisition Corp. | RIGHT 10/11/2029 | 100,000 | $21K | No change |
| TDACW Translational Dev -A -CW26 | *W EXP 12/18/202 | 125,000 | $20K | No change |
| MACIW Melar Acquisition Corp. I -29 | *W EXP 06/01/203 | 162,088 | $19K | No change |
| GTERR Globa Terra Acquisition-RTS | RIGHT 06/17/2030 | 150,000 | $19K | No change |
| CCIIW Cohen Circle Acq II -30 | *W EXP 07/01/203 | 25,000 | $16K | No change |
| PCAPW Procap Acq Corp. A -30 | *W EXP 05/16/203 | 49,998 | $16K | No change |
| FCRS.WS Futurecrest Acquisition Corp. | *W EXP 09/30/203 | 25,000 | $15K | No change |
| GTERW Globa Terra Acquisition - 30 | *W EXP 06/17/203 | 112,500 | $14K | No change |
| OACCW Oaktree Acquisition III -31 | *W EXP 09/01/203 | 15,000 | $11K | No change |
| ONCHW 1RT Acquisition Corp.-A -31 | *W EXP 06/26/203 | 25,000 | $11K | No change |
| MCGAW Yorkville Acquisition - 30 | *W EXP 06/06/203 | 28,332 | $10K | No change |
| BDMDW Baird Medical Investment -28 | *W EXP 10/01/202 | 96,794 | $8K | No change |
| SCAGW Scage Future -30 | *W EXP 05/15/203 | 150,000 | $7K | No change |
| ZEOWW Esgen Acquisition A -CW23 | *W EXP 03/13/202 | 175,000 | $7K | No change |
| DYORW Insight Digital Partners II | *W EXP 10/28/203 | 25,000 | $7K | No change |
| AMODW Insight Acquisition Co. -CW23 | *W EXP 12/13/202 | 150,000 | $7K | No change |
| BRLSW Oxus Acquisition Corp. -CW23 | *W EXP 02/07/202 | 75,000 | $6K | No change |
| ZOOZW Zooz Strategy Ltd.-29 | *W EXP 04/02/202 | 162,500 | $5K | No change |
| CPTWF Captivision Inc.-28 | *W EXP 11/15/202 | 75,000 | $4K | No change |
| FUSEW CSLM Holdings Inc. - 30 | *W EXP 10/22/203 | 50,000 | $4K | No change |
| XBPEW CF Acquisition Viii A -CW27 | *W EXP 11/30/202 | 50,000 | $3K | No change |
| TVGNW Semper Paratus Acqu -CW26 | *W EXP 02/14/202 | 75,000 | $3K | No change |
| BDCIW BTC Development Corp. - 30 | *W EXP 09/11/203 | 5,000 | $2K | No change |
| SLXNW Biomotion Sciences-CW29 | *W EXP 08/15/202 | 57,175 | $1K | No change |
| ASBPW Aspire Biopharma Holdin-CW27 | *W EXP 02/14/203 | 50,000 | $830 | No change |
Total filed on the 13F, all lines: $9.6B.
Portfolio Sells Q4 2025 → Q1 2026
| VOE Vngrd Mrngstr MD-Cap Val ETF | Sold out | 0.00% | −1.06 |
| CM Can Imperial BK of Commerce | Reduce -81.6% | 0.18% | −0.81 |
| CYBR Cyberark Software Ltd./Israel | Sold out | 0.00% | −0.77 |
| CIGI Colliers Intl GR-Subord Vot | Sold out | 0.00% | −0.61 |
| BCE Bce Inc. | Reduce -98.4% | 0.01% | −0.51 |
| WCN Waste Connections Inc. | Reduce -31.5% | 0.74% | −0.49 |
| B Barrick Mining Corp. | Reduce -18.5% | 1.19% | −0.45 |
| EXAS Exact Sciences Corp. | Sold out | 0.00% | −0.45 |
| BAC Bank of America Corp. | Reduce -98.9% | 0.00% | −0.44 |
| MSFT Microsoft Corp. | Reduce -12.2% | 0.77% | −0.43 |
| DAY Dayforce Inc. | Sold out | 0.00% | −0.42 |
| SSRM SSR Mining Inc. | Reduce -96.5% | 0.02% | −0.39 |
| KRE SS SPDR S&P Regional Bank | Sold out | 0.00% | −0.38 |
| MFC Manulife Financial Corp. | Reduce -44.2% | 0.38% | −0.38 |
| BSX Boston Scientific Corp. | Reduce -92.2% | 0.02% | −0.37 |
| RNAM Avidity Biosciences Inc. | Sold out | 0.00% | −0.34 |
| TPG TPG Inc. | Sold out | 0.00% | −0.31 |
| URI United Rentals Inc. | Reduce -99.1% | 0.00% | −0.28 |
| HBM Hudbay Minerals Inc. | Reduce -25.3% | 0.82% | −0.28 |
| BIP Brookfield Infrastructure Pa | Reduce -34.7% | 0.45% | −0.25 |
| BBU Brookfield Business PT-Unit | Sold out | 0.00% | −0.24 |
| CADE Cadence Bank | Sold out | 0.00% | −0.24 |
| EA Electronic Arts Inc. | Reduce -27.6% | 0.43% | −0.20 |
| GIL Gildan Activewear Inc. | Reduce -12.0% | 0.58% | −0.20 |
| CFLT Confluent Inc. Class A | Sold out | 0.00% | −0.19 |
| MEOH Methanex Corp. | Sold out | 0.00% | −0.18 |
| CDTX Cidara Therapeutics Inc. | Sold out | 0.00% | −0.18 |
| FTW Eqv Ventures Acquisition C-A | Sold out | 0.00% | −0.18 |
| MLI Mueller Industries Inc. | Reduce -57.8% | 0.11% | −0.18 |
| RKT Rocket Cos Inc. Class A | Reduce -17.6% | 0.23% | −0.17 |
| LLY Eli Lilly & Co. | Reduce -20.3% | 0.32% | −0.17 |
| FSV Firstservice Corp. | Reduce -20.6% | 0.35% | −0.17 |
| GRANITE CONSTRUCTION INC (GVA 3.75 05/15/28) | Sold out | 0.00% | −0.17 |
| COF Capital One Financial Corp. | Reduce -11.7% | 0.29% | −0.17 |
| HI Hillenbrand Inc. | Sold out | 0.00% | −0.17 |
| DOO BRP Inc./Ca- Sub Voting | Reduce -26.8% | 0.38% | −0.16 |
| AAPL Apple Inc. | Reduce -1.9% | 1.07% | −0.16 |
| NGD New Gold Inc. | Sold out | 0.00% | −0.16 |
| GFI Gold Fields Ltd.-Spons ADR | Sold out | 0.00% | −0.15 |
| SF Stifel Financial Corp. | Reduce -50.5% | 0.11% | −0.15 |
| IQV Iqvia Holdings Inc. | Reduce -100.0% | 0.00% | −0.15 |
| AFRM Affirm Holdings Inc. | Reduce -95.1% | 0.00% | −0.15 |
| META Meta Platforms Inc. Class A | Reduce -16.4% | 0.32% | −0.14 |
| DPZ Domino's Pizza Inc. | Sold out | 0.00% | −0.14 |
| MA Mastercard Inc. Class A | Reduce -40.6% | 0.13% | −0.13 |
| BLDR Builders Firstsource Inc. | Reduce -99.1% | 0.00% | −0.13 |
| OLLI Ollie's Bargain Outlet Holdi | Reduce -87.4% | 0.01% | −0.12 |
| CNI Canadian Natl Railway Co. | Reduce -31.8% | 0.25% | −0.12 |
| TEAM Atlassian Corp. Class A | Reduce -69.4% | 0.02% | −0.12 |
| CRM Salesforce Inc. | Sold out | 0.00% | −0.12 |
Portfolio Buys Q4 2025 → Q1 2026
| SU Suncor Energy Inc. | Add +201.1% | 1.98% | +1.52 |
| CNQ Canadian Natural Resources | Add +15.3% | 2.74% | +1.00 |
| SLF Sun Life Financial Inc. | New | 0.90% | +0.90 |
| RSP Invesco S&P 500 Equal Weight | Add +2679.8% | 0.76% | +0.73 |
| AEM Agnico Eagle Mines Ltd. | Add +26.3% | 2.05% | +0.62 |
| SPLV Invesco S&P 500 Low Volatili | Add +488.8% | 0.73% | +0.60 |
| FNV Franco-Nevada Corp. | Add +20.4% | 1.96% | +0.53 |
| PAAS Pan American Silver Corp. | Add +5990.3% | 0.46% | +0.45 |
| BMO Bank of Montreal | Add +1732.7% | 0.34% | +0.32 |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | Add +25.0% | 0.53% | +0.29 |
| PEN Penumbra Inc. | New | 0.27% | +0.27 |
| AU Anglogold Ashanti PLC | New | 0.27% | +0.27 |
| MCO Moody's Corp. | Add +6781.0% | 0.23% | +0.23 |
| CP Canadian Pacific Kansas City | Add +10.1% | 2.03% | +0.21 |
| CDE Coeur Mining Inc. | New | 0.21% | +0.21 |
| TECK Teck Resources Ltd.-CLS B | Add +35.6% | 0.73% | +0.21 |
| CGAU Centerra Gold Inc. | New | 0.20% | +0.20 |
| CCJ Cameco Corp. | Add +24.0% | 0.68% | +0.19 |
| OVV Ovintiv Inc. | New | 0.18% | +0.18 |
| CENX Century Aluminum Company | New | 0.18% | +0.18 |
| JPM JPMorgan Chase & Co. | Add +114.0% | 0.39% | +0.18 |
| ENB Enbridge Inc. | Add +4.3% | 1.57% | +0.17 |
| MRK Merck & Co. Inc. | New | 0.17% | +0.17 |
| WMB Williams Cos Inc. | New | 0.17% | +0.17 |
| FORTUNA MINING CORP (FVICN 3.75 06/30/29) | New | 0.15% | +0.15 |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | New | 0.15% | +0.15 |
| CTAS Cintas Corp. | New | 0.15% | +0.15 |
| ACLX Arcellx Inc. | New | 0.14% | +0.14 |
| BEP Brookfield Renewable Partner | Add +11.9% | 0.64% | +0.14 |
| AMD Advanced Micro Devices | Add +191.9% | 0.22% | +0.14 |
| CAH Cardinal Health Inc. | Add +97.7% | 0.28% | +0.14 |
| JHG Janus Henderson Group PLC | Add +142.8% | 0.23% | +0.14 |
| TD Toronto-Dominion Bank | Add +10.3% | 3.65% | +0.14 |
| PKG Packaging Corp. of America | Add +1225540.0% | 0.14% | +0.14 |
| SJM The JM Smucker Co. | New | 0.13% | +0.13 |
| EQUINOX GOLD CORP (EQXCN 4.75 10/15/28) | New | 0.13% | +0.13 |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | New | 0.13% | +0.13 |
| TW Tradeweb Markets Inc. Class A | New | 0.13% | +0.13 |
| TER Teradyne Inc. | Add +25.4% | 0.28% | +0.12 |
| MGA Magna International Inc. | Add +28.5% | 0.56% | +0.12 |
| PCAR Paccar Inc. | Add +826616.7% | 0.12% | +0.12 |
| CTRA Coterra Energy Inc. | New | 0.12% | +0.12 |
| CAT Caterpillar Inc. | New | 0.12% | +0.12 |
| TWLO Twilio Inc. Class A | Add +462479.0% | 0.12% | +0.12 |
| SO The Southern Co. | New | 0.12% | +0.12 |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | Add +233.3% | 0.16% | +0.11 |
| COST Costco Wholesale Corp. | Add +2493.9% | 0.11% | +0.11 |
| CGNX Cognex Corp. | Add +120.6% | 0.17% | +0.11 |
| FDX FedEx Corp. | Add +6783.8% | 0.11% | +0.11 |
| MASI Masimo Corp. | Add +519.0% | 0.12% | +0.11 |
Options Activity Q4 2025 → Q1 2026
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | Add +44.5% | 17,805,000 | $1.4B |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | call | Reduce -33.3% | 5,000,000 | $397.8M |
| IWM iShares Russell 2000 ETF | put | Sold out | 1,200,000 | $295.4Mbefore exit |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | call | Reduce -50.0% | 2,500,000 | $272.5M |
| IEF iShares 7-10 Year Treasury B | put | Sold out | 2,500,000 | $240.4Mbefore exit |
| TLT iShares 20+ Year Treasury BD | call | New | 2,000,000 | $173.4M |
| EEM iShares MSCI Emerging Market | call | New | 2,400,000 | $136.3M |
| MTUM iShares MSCI USA Momentum Fa | put | New | 520,000 | $124.8M |
| GDX Vaneck Gold Miners ETF | call | New | 1,120,000 | $102.8M |
| TECK Teck Resources Ltd.-CLS B | call | New | 1,900,000 | $98.3M |
| CLS Celestica Inc. | call | Sold out | 240,000 | $70.9Mbefore exit |
| ZG Zillow Group Inc. Class A | call | Sold out | 780,000 | $53.2Mbefore exit |
| SNOW Snowflake Inc. | call | Sold out | 240,000 | $52.6Mbefore exit |
| KRE SS SPDR S&P Regional Bank | call | New | 800,000 | $52.1M |
| INTU Intuit Inc. | call | New | 120,000 | $51.9M |
| MU Micron Technology Inc. | call | New | 150,000 | $50.7M |
| DASH DoorDash Inc. Class A | call | Sold out | 216,000 | $48.9Mbefore exit |
| ORCL Oracle Corp. | call | Sold out | 200,000 | $39.0Mbefore exit |
| AEM Agnico Eagle Mines Ltd. | call | New | 180,000 | $36.5M |
| MDB Mongodb Inc. | call | New | 145,000 | $35.5M |
| CSGP Costar Group Inc. | call | Sold out | 500,000 | $33.6Mbefore exit |
| TEVA Teva Pharmaceutical-SP ADR | call | New | 1,000,000 | $30.1M |
| RNAM Avidity Biosciences Inc. | put | Sold out | 414,400 | $29.9Mbefore exit |
| CGNX Cognex Corp. | call | New | 600,000 | $29.4M |
| RSP Invesco S&P 500 Equal Weight | call | Sold out | 150,000 | $28.7Mbefore exit |
| CRM Salesforce Inc. | call | New | 150,000 | $28.0M |
| KKR KKR & Co. Inc. | call | New | 300,000 | $27.8M |
| DAY Dayforce Inc. | put | Sold out | 375,000 | $25.9Mbefore exit |
| SHOP Shopify Inc. Class A | call | New | 210,000 | $24.9M |
| ARES Ares Management Corp. Class A | call | New | 220,000 | $24.0M |
| SJM The JM Smucker Co. | call | New | 240,000 | $23.1M |
| HOLX Hologic Inc. | put | New | 300,000 | $22.7M |
| RDNT Radnet Inc. | call | Sold out | 300,000 | $21.4Mbefore exit |
| NOW ServiceNow Inc. | call | New | 200,000 | $20.9M |
| HBM Hudbay Minerals Inc. | call | New | 1,000,000 | $20.9M |
| TEAM Atlassian Corp. Class A | call | New | 300,000 | $20.5M |
| IQV Iqvia Holdings Inc. | call | New | 120,000 | $20.5M |
| EXAS Exact Sciences Corp. | put | Sold out | 200,000 | $20.3Mbefore exit |
| MRVL Marvell Technology Inc. | call | New | 200,000 | $19.8M |
| EFA iShares MSCI Eafe ETF | put | New | 200,000 | $19.4M |
| COHR Coherent Corp. | call | New | 80,000 | $19.1M |
| OR Or Royalties Inc. | call | New | 500,000 | $19.0M |
| MLI Mueller Industries Inc. | call | New | 150,000 | $16.6M |
| TU Telus Corp. | call | Sold out | 1,200,000 | $15.8Mbefore exit |
| APPN Appian Corp. Class A | put | Sold out | 400,000 | $14.2Mbefore exit |
| BRZE Braze Inc. Class A | call | New | 600,000 | $14.2M |
| CDTX Cidara Therapeutics Inc. | put | Sold out | 50,000 | $11.0Mbefore exit |
| AMPX Amprius Technologies Inc. | put | New | 650,000 | $11.0M |
| AKAM Akamai Technologies Inc. | call | New | 90,000 | $10.3M |
| EXAS Exact Sciences Corp. | call | Sold out | 100,000 | $10.2Mbefore exit |
Showing the first 50 of 57.
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
| EQV VENTURES ACQUISITION | *W EXP 07/01/203 | Sold out | 349,999 | $168Kbefore exit |
| GFUZW Spring Valley Acq Co. -30 | *W EXP 09/04/203 | Sold out | 256,559 | $160Kbefore exit |
| OYSER Oyster Enterprises II Acquis | RIGHT 05/22/2030 | Reduce -20.0% | 800,000 | $100K |
| OTGAW Otg Acquisition Corp. I - 30 | *W EXP 09/05/203 | Reduce -20.5% | 387,500 | $97K |
| CHACR Crane Harbor Acquisition-RTS | RIGHT 04/17/2030 | Sold out | 100,000 | $80Kbefore exit |
| ALDFW Aldel Financial II Inc. - 29 | *W EXP 09/26/203 | Reduce -18.2% | 225,000 | $79K |
| FACWW Cartesian Growth Corp. -30 | *W EXP 05/02/203 | Reduce -70.9% | 87,249 | $61K |
| RAAQW REAL ASSET AQC Corp -30 | *W EXP 04/24/203 | Sold out | 125,000 | $59Kbefore exit |
| CCIXW Churchill Capital Corp. I-29 | *W EXP 03/31/203 | Reduce -37.9% | 131,346 | $59K |
| CCAQW Dune Acquisition Corp. II -30 | *W EXP 04/04/203 | Reduce -19.1% | 212,500 | $57K |
| LEGT.WS Legato Merger Corp. III-29 | *W EXP 05/08/203 | Reduce -33.3% | 100,000 | $50K |
| BCARW D Boral Arc Acquisition - 30 | *W EXP 07/23/203 | Sold out | 137,500 | $50Kbefore exit |
| BIII.WS Black Spade Acquisition III | *W EXP 99/99/999 | New | 124,999 | $44K |
| ZKPW Lafayette Digital Acqu - 31 | *W EXP 12/23/203 | New | 125,000 | $35K |
| DAAQW Digital Asset Acquisition-30 | *W EXP 04/01/203 | Reduce -40.0% | 75,000 | $28K |
| PLMKW Plum Acquisition Corp. IV-30 | *W EXP 08/19/202 | Reduce -33.3% | 50,000 | $25K |
| EGHAR Egh Acquisition Corp.-RTS | RIGHT 99/99/9999 | Sold out | 40,000 | $10Kbefore exit |
| KRSP.WS Rice Acquisition Corp. 3 | *W EXP 99/99/999 | Sold out | 4,165 | $3Kbefore exit |
| ABPWW Atlantic Coast Acq -CW23 | *W EXP 11/12/202 | Sold out | 125,000 | $2Kbefore 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 | 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 |