PICTON MAHONEY ASSET MANAGEMENT Q2 2025 Filing

Filed August 12, 2025

Portfolio Value

$9.7B

Holdings

963

Report Date

Q2 2025

Filing Type

13F-HR

All Holdings (963 positions)

#	Stock	Shares	Value	% Portfolio	Type
1	AQLTISHARES TR	10,000,000	$806.5M	8.30%	Call
2	AQLTISHARES TR	10,000,000	$806.5M	8.30%	Put
3	RYROYAL BK CDA	2,513,876	$330.0M	3.40%
4	GPATGP-ACT III ACQUISITION CORP	937,500	$309.0M	3.18%
5	—LIONHEART HOLDINGS	750,000	$282.0M	2.90%
6	ALFCENTURION ACQUISITION CORP	912,500	$274.0M	2.82%
7	TDTORONTO DOMINION BK ONT	3,651,196	$267.5M	2.75%
8	AQLTISHARES TR	1,234,000	$266.3M	2.74%	Call
9	SHOPSHOPIFY INC	1,759,717	$202.1M	2.08%
10	LPAALAUNCH ONE ACQUISITION CORP	734,878	$199.0M	2.05%
11	CPCANADIAN PACIFIC KANSAS CITY	2,464,528	$195.0M	2.01%
12	SIMASIM ACQUISITION CORP. I	700,000	$192.0M	1.98%
13	TACHTITAN ACQUISITION CORP	500,000	$185.0M	1.90%
14	GROY/WSGOLD ROYALTY CORP	510,000	$178.0M	1.83%
15	CRCCANADIAN NAT RES LTD	5,193,500	$162.6M	1.67%
16	LPBBLAUNCH TWO ACQUISITION CORP.	350,000	$147.0M	1.51%
17	GRAFGRAF GLOBAL CORP	502,140	$143.0M	1.47%
18	WCNWASTE CONNECTIONS INC	757,500	$140.9M	1.45%
19	BNBROOKFIELD CORP	2,280,199	$140.6M	1.45%
20	FERAFIFTH ERA ACQUISITION CORP I	500,000	$140.0M	1.44%
21	AEMAGNICO EAGLE MINES LTD	1,129,750	$134.1M	1.38%
22	NVDANVIDIA CORPORATION	843,607	$133.3M	1.37%
23	ENBENBRIDGE INC	2,924,995	$132.1M	1.36%
24	MSFTMICROSOFT CORP	256,569	$127.6M	1.31%
25	ISRLFISRAEL ACQUISITIONS CORP	550,000	$123.0M	1.27%
26	AACBARTIUS II ACQUISITION INC	500,000	$121.0M	1.25%
27	TSLATESLA INC	377,000	$119.8M	1.23%	Put
28	GIGGIGCAPITAL7 CORP	717,500	$114.0M	1.17%
29	JACSJACKSON ACQUISITION CO II	400,000	$111.0M	1.14%
30	POLEANDRETTI ACQUISITION CORP II	550,000	$109.0M	1.12%
31	TRPTC ENERGY CORP	2,064,835	$100.4M	1.03%
32	TRITHOMSON REUTERS CORP	491,996	$98.5M	1.01%
33	OROR ROYALTIES INC.	3,774,310	$96.6M	0.99%
34	CLSCELESTICA INC	581,089	$90.4M	0.93%
35	WLACWILLOW LANE ACQUISITION CORP	250,000	$89.0M	0.92%
36	LIESUN LIFE FINANCIAL INC.	1,322,756	$87.7M	0.90%
37	TECK/BTECK RESOURCES LTD	2,068,609	$83.3M	0.86%
38	FNVFRANCO NEV CORP	493,035	$80.6M	0.83%
39	—OKLO INC	1,425,000	$79.8M	0.82%	Put
40	BMOBANK MONTREAL QUE	716,881	$79.1M	0.81%
41	RCI/BROGERS COMMUNICATIONS INC	2,664,449	$78.7M	0.81%
42	—HENNESSY CAP INVT CORP VII	250,000	$77.0M	0.79%
43	—NEWBURY STR II ACQUISITION C	312,500	$75.0M	0.77%
44	CVECENOVUS ENERGY INC	5,526,056	$74.9M	0.77%
45	—UNITEDHEALTH GROUP INC	234,000	$73.0M	0.75%	Call
46	AAPLAPPLE INC	352,999	$72.4M	0.75%
47	BACQBLEICHROEDER ACQUISITION COR	200,000	$70.0M	0.72%
48	TVATEXAS VENTURES ACQUISITION I	250,000	$67.0M	0.69%
49	GILGILDAN ACTIVEWEAR INC	1,332,795	$65.4M	0.67%
50	MFCMANULIFE FINL CORP	1,986,425	$63.3M	0.65%
51	CMCANADIAN IMPERIAL BK COMM	873,718	$61.8M	0.64%
52	HBMHUDBAY MINERALS INC	5,812,518	$61.4M	0.63%
53	RAAQREAL ASSET ACQUISITION CORP	125,000	$58.0M	0.60%
54	AVGOBROADCOM INC	206,046	$56.8M	0.58%
55	FSVFIRSTSERVICE CORP NEW	322,371	$56.0M	0.58%
56	—COREWEAVE INC	332,100	$54.2M	0.56%	Put
57	LEGTLEGATO MERGER CORP III	200,000	$54.0M	0.56%
58	AMZNAMAZON COM INC	245,708	$53.9M	0.55%
59	VACHVOYAGER ACQUISITION CORP	175,000	$53.0M	0.55%
60	CCOCAMECO CORP	698,462	$51.7M	0.53%
61	METAMETA PLATFORMS INC	69,852	$51.6M	0.53%
62	TTELUS CORPORATION	3,193,987	$51.1M	0.53%
63	ATIIARCHIMEDES TECH SPAC PARTNER	125,000	$51.0M	0.52%
64	RACRITHM ACQUISITION CORP	99,999	$49.0M	0.50%
65	—NEWHOLD INVT CORP III	150,000	$49.0M	0.50%
66	MACIMELAR ACQUISITION CORP. I	162,500	$49.0M	0.50%
67	DSGDESCARTES SYS GROUP INC	478,144	$48.4M	0.50%
68	GOOGLALPHABET INC	272,535	$48.0M	0.49%
69	DDOGDATADOG INC	350,000	$47.0M	0.48%	Call
70	BIPBROOKFIELD INFRAST PARTNERS	1,384,662	$46.2M	0.48%
71	BAMBROOKFIELD ASSET MANAGMT LTD	800,000	$44.1M	0.45%	Call
72	WPMWHEATON PRECIOUS METALS CORP	479,566	$43.0M	0.44%
73	FACTFACT II ACQUISITION CORP	150,000	$42.0M	0.43%
74	MLACMOUNTAIN LAKE ACQUISITION CO	250,000	$41.0M	0.42%
75	MSTRMICROSTRATEGY INC	100,000	$40.4M	0.42%	Put
76	HIMSHIMS & HERS HEALTH INC	800,000	$39.9M	0.41%	Put
77	KELKELLANOVA	457,928	$36.4M	0.37%
78	CARTMAPLEBEAR INC	800,000	$36.2M	0.37%	Put
79	HYACHAYMAKER ACQUISITION CORP IV	100,000	$36.0M	0.37%
80	—TRANSLATIONAL DEV ACQUISITIO	125,000	$36.0M	0.37%
81	BSXBOSTON SCIENTIFIC CORP	332,369	$35.7M	0.37%
82	CIGICOLLIERS INTL GROUP INC	272,586	$35.5M	0.37%
83	RGAREINSURANCE GRP OF AMERICA I	177,810	$35.3M	0.36%
84	DNBDUN & BRADSTREET HLDGS INC	3,866,832	$35.1M	0.36%
85	BRBRBELLRING BRANDS INC	600,000	$34.8M	0.36%	Call
86	LLYELI LILLY & CO	43,723	$34.1M	0.35%
87	SCHWSCHWAB CHARLES CORP	371,619	$33.9M	0.35%
88	DASHDOORDASH INC	136,000	$33.5M	0.35%	Call
89	HWMHOWMET AEROSPACE INC	178,920	$33.3M	0.34%
90	KFIIK&F GROWTH ACQUISITION CORP	250,000	$33.0M	0.34%
91	—ALCHEMY INVTS ACQUISITN CORP	300,000	$33.0M	0.34%
92	SPOTSPOTIFY TECHNOLOGY S A	41,878	$32.1M	0.33%
93	AZEKAZEK CO INC	582,100	$31.6M	0.33%
94	BACBANK AMERICA CORP	661,432	$31.3M	0.32%
95	GSHRGESHER ACQUISITION CORP. II	112,500	$31.0M	0.32%
96	BEAGBOLD EAGLE ACQUISITION CORP	100,000	$31.0M	0.32%
97	LPLALPL FINL HLDGS INC	82,157	$30.8M	0.32%
98	SKAASKECHERS U S A INC	480,017	$30.3M	0.31%
99	WFCWELLS FARGO CO NEW	377,649	$30.3M	0.31%
100	MRVLMARVELL TECHNOLOGY INC	390,000	$30.2M	0.31%	Call

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