PICTON MAHONEY ASSET MANAGEMENT Q3 2025 Filing

Filed November 12, 2025

Portfolio Value

$11.1B

Holdings

1,069

Report Date

Q3 2025

Filing Type

13F-HR

All Holdings (1,069 positions)

#StockSharesValue% PortfolioType
1
AQLTISHARES TR
15,000,000$1.2B10.99%Put
2
AQLTISHARES TR
15,000,000$1.2B10.99%Call
3
RYROYAL BK CDA
2,577,593$379.8M3.43%
4
TDTORONTO DOMINION BK ONT
3,252,129$260.0M2.35%
5
SHOPSHOPIFY INC
1,731,048$257.1M2.32%
6
BNBROOKFIELD CORP
2,629,023$180.4M1.63%
7
AEMAGNICO EAGLE MINES LTD
1,017,406$171.3M1.55%
8
CRCCANADIAN NAT RES LTD
5,170,054$165.3M1.49%
9
AQLTISHARES TR
640,000$164.1M1.48%Put
10
CPCANADIAN PACIFIC KANSAS CITY
2,147,165$159.9M1.44%
11
MSFTMICROSOFT CORP
266,830$138.2M1.25%
12
NVDANVIDIA CORPORATION
736,703$137.5M1.24%
13
ENBENBRIDGE INC
2,704,498$136.4M1.23%
14
FNVFRANCO NEV CORP
591,206$131.6M1.19%
15
OROR ROYALTIES INC
3,109,636$124.6M1.12%
16
CMCANADIAN IMPERIAL BANK OF CO
1,477,258$118.0M1.06%
17
TRPTC ENERGY CORP
2,037,010$110.7M1.00%
18
CVECENOVUS ENERGY INC
6,389,703$108.5M0.98%
19
AAPLAPPLE INC
420,307$107.0M0.97%
20
TSLATESLA INC
240,000$106.7M0.96%Put
21
WCNWASTE CONNECTIONS INC
600,000$105.5M0.95%Call
22
HBMHUDBAY MINERALS INC
6,350,482$96.2M0.87%
23
WCNWASTE CONNECTIONS INC
540,326$95.0M0.86%
24
RCI/BROGERS COMMUNICATIONS INC
2,673,625$92.0M0.83%
25
CLSCELESTICA INC
357,341$87.9M0.79%
26
GOOGLALPHABET INC
330,696$80.4M0.73%
27
TRITHOMSON REUTERS CORP
500,000$77.6M0.70%Call
28
CYBRCYBERARK SOFTWARE LTD
152,257$73.6M0.66%
29
VOEVANGUARD INDEX FDS
406,324$70.9M0.64%
30
AVGOBROADCOM INC
198,249$65.4M0.59%
31
FSVFIRSTSERVICE CORP NEW
331,730$63.2M0.57%
32
GILGILDAN ACTIVEWEAR INC
1,043,362$60.3M0.54%
33
BIPBROOKFIELD INFRAST PARTNERS
1,768,734$58.3M0.53%
34
CIGICOLLIERS INTL GROUP INC
349,231$54.6M0.49%
35
AMZNAMAZON COM INC
242,851$53.3M0.48%
36
TRITHOMSON REUTERS CORP
342,897$53.2M0.48%
37
BMOBANK MONTREAL QUE
405,969$52.9M0.48%
38
BBARRICK MNG CORP
1,577,359$51.8M0.47%
39
WPMWHEATON PRECIOUS METALS CORP
461,195$51.6M0.47%
40
SSRMSSR MINING IN
2,081,864$50.8M0.46%
41
METAMETA PLATFORMS INC
68,595$50.4M0.45%
42
IMGIAMGOLD CORP
3,893,422$50.3M0.45%
43
TECK/BTECK RESOURCES LTD
1,122,452$49.2M0.44%
44
MFCMANULIFE FINL CORP
1,507,847$47.0M0.42%
45
TTELUS CORPORATION
2,893,312$45.6M0.41%
46
SPOTSPOTIFY TECHNOLOGY S A
60,000$41.9M0.38%Call
47
DSGDESCARTES SYS GROUP INC
444,774$41.9M0.38%
48
CCOCAMECO CORP
457,311$38.4M0.35%
49
LVLNSPDR SERIES TRUST
590,874$37.4M0.34%
50
SCHWSCHWAB CHARLES CORP
377,885$36.1M0.33%
51
BACBANK AMERICA CORP
694,393$35.8M0.32%
52
COFCAPITAL ONE FINL CORP
165,686$35.2M0.32%
53
KELKELLANOVA
427,928$35.1M0.32%
54
OKLO INC
300,000$33.5M0.30%Put
55
BSXBOSTON SCIENTIFIC CORP
340,103$33.2M0.30%
56
RKTROCKET COS INC
1,694,838$32.8M0.30%
57
GTLSCHART INDS INC
160,323$32.1M0.29%
58
MDBMONGODB INC
103,255$32.0M0.29%
59
KKRKKR & CO INC
243,062$31.6M0.28%
60
GEVGE VERNOVA INC
50,000$30.7M0.28%Put
61
FYBRFRONTIER COMMUNICATIONS PARE
811,768$30.3M0.27%
62
URIUNITED RENTALS INC
30,445$29.1M0.26%
63
HWMHOWMET AEROSPACE INC
146,977$28.8M0.26%
64
SPOTSPOTIFY TECHNOLOGY S A
40,796$28.5M0.26%
65
DWDMORGAN STANLEY
175,441$27.9M0.25%
66
BEPBROOKFIELD RENEWABLE PARTNER
1,070,639$27.6M0.25%
67
COREWEAVE INC
200,000$27.4M0.25%Call
68
WMTWALMART INC
265,263$27.3M0.25%
69
OPENOPENDOOR TECHNOLOGIES INC
3,400,000$27.1M0.24%Put
70
CDECOEUR MNG INC
1,413,982$26.5M0.24%
71
PWRQUANTA SVCS INC
63,775$26.4M0.24%
72
TECKTECK RESOURCES LTD
600,000$26.3M0.24%Call
73
SUSUNCOR ENERGY INC NEW
627,313$26.2M0.24%
74
VRNAVERONA PHARMA PLC
245,000$26.1M0.24%
75
TJXTJX COS INC NEW
177,443$25.6M0.23%
76
ABBVABBVIE INC
108,567$25.1M0.23%
77
BABOEING CO
115,683$25.0M0.23%
78
KELLANOVA
300,000$24.6M0.22%Put
79
TPGTPG INC
423,584$24.3M0.22%
80
SPLVINVESCO EXCH TRADED FD TR II
328,793$24.2M0.22%
81
NSCNORFOLK SOUTHN CORP
80,000$24.0M0.22%
82
HUBSHUBSPOT INC
50,000$23.4M0.21%Put
83
DASHDOORDASH INC
84,503$23.0M0.21%
84
SIISPROTT INC
275,478$22.9M0.21%
85
BBUBROOKFIELD BUSINESS PARTNERS
696,679$22.8M0.21%
86
TSMTAIWAN SEMICONDUCTOR MFG LTD
81,449$22.7M0.21%
87
SNOWSNOWFLAKE INC
100,052$22.6M0.20%
88
MLIMUELLER INDS INC
223,048$22.6M0.20%
89
LLYELI LILLY & CO
29,253$22.3M0.20%
90
NETCLOUDFLARE INC
101,509$21.8M0.20%
91
DHID R HORTON INC
127,386$21.6M0.19%
92
RBCRBC BEARINGS INC
54,989$21.5M0.19%
93
RGAREINSURANCE GRP OF AMERICA I
109,674$21.1M0.19%
94
AVDXAVIDXCHANGE HOLDINGS INC
2,100,000$20.9M0.19%
95
JPMJPMORGAN CHASE & CO
65,945$20.8M0.19%
96
KOCOCA COLA CO
308,916$20.5M0.18%
97
PFGCPERFORMANCE FOOD GROUP CO
194,830$20.3M0.18%
98
NFLXNETFLIX INC
16,838$20.2M0.18%
99
HDHOME DEPOT INC
49,700$20.1M0.18%
100
CGCTCARTESIAN GROWTH CORP III
2,000,000$20.1M0.18%
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