PICTON MAHONEY ASSET MANAGEMENT

Toronto, A6 · CIK 1539041 · 13F filing filed 2026-08-13

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

Legal entityPicton Mahoney Asset Management (CA)

$10.8bn reported value +13.0% vs Q1 2026

1,346positions

25.7%in top 10

493 new 309 added 309 reduced 346 sold out vs Q1 2026

Options: 23 call positions ($1.6bn notional), 9 put positions ($1.1bn notional) – listed below, not included above.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	ROYAL BK CDA COM RY	RY	3,315,100	$684.8m6.32%	6.32%	Added +660.7k	+660,667 24.9%
2	TORONTO DOMINION BK ONT COM NEW TD	TD	4,578,596	$555.3m5.12%	5.12%	Added +831.9k	+831,878 22.2%
3	SHOPIFY INC CL A SUB VTG SHS SHOP	SHOP	2,163,787	$246.9m2.28%	2.28%	Added +28.2k	+28,170 1.3%
4	CANADIAN PACIFIC KANSAS CITY COM CP	CP	2,829,879	$244.7m2.26%	2.26%	Added +350.4k	+350,443 14.1%
5	BROOKFIELD CORP CL A LTD VT SH BN	BN	4,751,905	$202.2m1.87%	1.87%	Added +1.1m	+1,096,706 30.0%
6	ENBRIDGE INC COM ENB	ENB	3,371,682	$182.4m1.68%	1.68%	Added +591.2k	+591,169 21.3%
7	NVIDIA CORPORATION COM NVDA	NVDA	848,217	$169.7m1.57%	1.57%	Reduced -41.6k	-41,573 -4.7%
8	CANADIAN NAT RES LTD COM CNQ	CNQ	4,270,778	$168.6m1.55%	1.55%	Reduced -1.1m	-1,110,625 -20.6%
9	BANK MONTREAL QUE COM BMO	BMO	945,606	$166.7m1.54%	1.54%	Added +707.7k	+707,670 297.4%
10	FRANCO NEV CORP COM FNV	FNV	796,135	$165.7m1.53%	1.53%	Added +36.8k	+36,846 4.8%
11	SUNCOR ENERGY INC NEW COM SU	SU	3,049,813	$163.7m1.51%	1.51%	Added +175.1k	+175,115 6.1%
12	SUN LIFE FINANCIAL INC. COM SLF	SLF	2,061,273	$161.4m1.49%	1.49%	Added +686.4k	+686,356 49.9%
13	AGNICO EAGLE MINES LTD COM AEM	AEM	975,936	$151.3m1.40%	1.40%	Added +7.0k	+7,020 0.7%
14	CENOVUS ENERGY INC COM CVE	CVE	5,987,906	$148.2m1.37%	1.37%	Added +1.1m	+1,120,504 23.0%
15	TC ENERGY CORP COM TRP	TRP	2,150,666	$142.1m1.31%	1.31%	Added +86.3k	+86,298 4.2%
16	ALPHABET INC CAP STK CL A GOOGL	GOOGL	350,882	$125.4m1.16%	1.16%	Reduced -62.9k	-62,946 -15.2%
17	CELESTICA INC COM CLS	CLS	301,938	$109.8m1.01%	1.01%	Reduced -28.8k	-28,761 -8.7%
18	WHEATON PRECIOUS METALS CORP COM WPM	WPM	971,176	$109.0m1.01%	1.01%	Added +165.6k	+165,553 20.6%
19	APPLE INC COM AAPL	AAPL	358,892	$103.8m0.96%	0.96%	Reduced -46.5k	-46,468 -11.5%
20	INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT RSP	RSP	486,850	$103.6m0.96%	0.96%	Added +105.2k	+105,246 27.6%
21	TECK RESOURCES LTD CL B TECK	TECK	1,733,240	$103.0m0.95%	0.95%	Added +383.3k	+383,257 28.4%
22	HUDBAY MINERALS INC COM HBM	HBM	4,154,931	$97.9m0.90%	0.90%	Added +396.1k	+396,101 10.5%
23	OR ROYALTIES INC. COM SHS OR	OR	3,091,096	$97.6m0.90%	0.90%	Reduced -249.1k	-249,098 -7.5%
24	BARRICK MNG CORP COM SHS B	B	2,644,794	$97.0m0.89%	0.89%	Reduced -145.6k	-145,568 -5.2%
25	WASTE CONNECTIONS INC COM WCN	WCN	569,050	$94.6m0.87%	0.87%	Added +129.9k	+129,936 29.6%
26	INVESCO EXCH TRADED FD TR II S&P500 LOW VOL SPLV	SPLV	1,254,188	$93.9m0.87%	0.87%	Added +302.6k	+302,576 31.8%
27	ROGERS COMMUNICATIONS INC CL B RCI	RCI	2,814,609	$91.3m0.84%	0.84%	Reduced -177.6k	-177,554 -5.9%
28	AMAZON COM INC COM AMZN	AMZN	362,728	$86.5m0.80%	0.80%	Added +655	+655 0.2%
29	IAMGOLD CORP COM IAG	IAG	5,016,085	$79.2m0.73%	0.73%	Added +257.3k	+257,331 5.4%
30	BROOKFIELD RENEWABLE PARTNER PARTNERSHIP UNIT BEP	BEP	2,219,312	$76.7m0.71%	0.71%	Added +341.0k	+340,988 18.1%
31	MICROSOFT CORP COM MSFT	MSFT	195,877	$73.1m0.67%	0.67%	Reduced -3.5k	-3,483 -1.8%
32	CAMECO CORP COM CCJ	CCJ	629,127	$64.0m0.59%	0.59%	Added +31.8k	+31,753 5.3%
33	BANK NOVA SCOTIA HALIFAX COM BNS	BNS	735,921	$63.7m0.59%	0.59%	Added +696.9k	+696,888 1785.4%
34	ADVANCED MICRO DEVICES INC COM AMD	AMD	108,198	$62.9m0.58%	0.58%	Added +2.8k	+2,768 2.6%
35	GILDAN ACTIVEWEAR INC COM GIL	GIL	1,200,891	$61.8m0.57%	0.57%	Added +209.3k	+209,327 21.1%
36	JPMORGAN CHASE & CO COM JPM	JPM	185,755	$60.8m0.56%	0.56%	Added +58.4k	+58,380 45.8%
37	DESCARTES SYS GROUP INC COM DSGX	DSGX	822,771	$56.8m0.52%	0.52%	Added +269.2k	+269,193 48.6%
38	MICRON TECHNOLOGY INC COM MU	MU	47,110	$54.4m0.50%	0.50%	Added +6.7k	+6,705 16.6%
39	PAN AMERN SILVER CORP COM PAAS	PAAS	1,207,847	$54.0m0.50%	0.50%	Added +397.3k	+397,290 49.0%
40	MAGNA INTL INC COM MGA	MGA	784,411	$51.5m0.47%	0.47%	Reduced -173.6k	-173,605 -18.1%
41	BROOKFIELD INFRAST PARTNERS LP INT UNIT BIP	BIP	1,408,457	$51.3m0.47%	0.47%	Added +204.9k	+204,897 17.0%
42	BROADCOM INC COM AVGO	AVGO	127,742	$48.3m0.45%	0.45%	Reduced -64.4k	-64,410 -33.5%
43	FIRSTSERVICE CORP NEW COM FSV	FSV	330,064	$46.8m0.43%	0.43%	Added +85.9k	+85,881 35.2%
44	INTEL CORP COM INTC	INTC	333,786	$46.6m0.43%	0.43%	Added +8.7k	+8,692 2.7%
45	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	92,038	$44.0m0.41%	0.41%	Reduced -7.6k	-7,598 -7.6%
46	BOYD GROUP SERVICES INC COM BGSI	BGSI	457,748	$43.2m0.40%	0.40%	Reduced -92.7k	-92,699 -16.8%
47	ELI LILLY & CO COM LLY	LLY	33,628	$40.3m0.37%	0.37%	Added +641	+641 1.9%
48	SNOWFLAKE INC CL A SNOW	SNOW	153,756	$39.1m0.36%	0.36%	Added +46.3k	+46,336 43.1%
49	ELECTRONIC ARTS INC COM EA	EA	189,690	$38.9m0.36%	0.36%	Reduced -14.9k	-14,910 -7.3%
50	RBC BEARINGS INC COM RBC	RBC	58,814	$37.9m0.35%	0.35%	Reduced -1.8k	-1,809 -3.0%
51	CITIGROUP INC COM NEW C	C	264,238	$37.0m0.34%	0.34%	Added +96.8k	+96,788 57.8%
52	MORGAN STANLEY COM NEW MS	MS	168,259	$35.2m0.32%	0.32%	Reduced -18.0k	-17,971 -9.7%
53	PALO ALTO NETWORKS INC COM PANW	PANW	101,969	$34.8m0.32%	0.32%	Reduced -1.3k	-1,285 -1.2%
54	LAM RESEARCH CORP COM NEW LRCX	LRCX	79,533	$34.5m0.32%	0.32%	Reduced -4.6k	-4,568 -5.4%
55	ROCKET COS INC COM CL A RKT	RKT	2,138,584	$33.7m0.31%	0.31%	Added +559.8k	+559,814 35.5%
56	BOEING CO COM BA	BA	155,172	$33.6m0.31%	0.31%	Added +28.3k	+28,260 22.3%
57	ROKU INC COM CL A ROKU	ROKU	240,342	$33.2m0.31%	0.31%	Added +136.9k	+136,934 132.4%
58	WEBSTER FINL CORP COM WBS	WBS	415,121	$31.7m0.29%	0.29%	Added +159.2k	+159,186 62.2%
59	QUANTA SVCS INC COM PWR	PWR	43,945	$31.6m0.29%	0.29%	Reduced -8.8k	-8,844 -16.8%
60	TEVA PHARMACEUTICAL INDS LTD SPONSORED ADS SPONSORED ADS		925,408	$31.4m0.29%	0.29%	Added +115.2k	+115,190 14.2%
61	ALGONQUIN PWR UTILS CORP COM AQN	AQN	5,190,063	$30.4m0.28%	0.28%	Added +309.3k	+309,317 6.3%
62	ASSURANT INC COM AIZ	AIZ	112,130	$30.1m0.28%	0.28%	Added +19.7k	+19,718 21.3%
63	CROWDSTRIKE HLDGS INC CL A CRWD	CRWD	39,227	$29.9m0.28%	0.28%	Reduced -10.0k	-9,981 -20.3%
64	MONGODB INC CL A MDB	MDB	87,570	$29.4m0.27%	0.27%	Added +12.9k	+12,898 17.3%
65	TJX COS INC NEW COM TJX	TJX	192,531	$29.2m0.27%	0.27%	Added +11.2k	+11,207 6.2%
66	VISA INC COM CL A V	V	84,253	$28.9m0.27%	0.27%	Added +12.5k	+12,508 17.4%
67	COCA COLA CO COM KO	KO	354,491	$28.8m0.27%	0.27%	Reduced -3.5k	-3,521 -1.0%
68	GUARDANT HEALTH INC COM GH	GH	191,876	$28.8m0.27%	0.27%	Reduced -58.1k	-58,115 -23.2%
69	CAPITAL ONE FINL CORP COM COF	COF	143,168	$28.7m0.26%	0.26%	Reduced -7.3k	-7,324 -4.9%
70	SANDISK CORP COM SNDK	SNDK	12,503	$28.4m0.26%	0.26%	Reduced -27.0k	-26,993 -68.3%
71	JANUS HENDERSON GROUP PLC ORD SHS ORD SHS		541,914	$28.2m0.26%	0.26%	Added +116.9k	+116,883 27.5%
72	COGNEX CORP COM CGNX	CGNX	382,162	$27.7m0.26%	0.26%	Added +53.5k	+53,507 16.3%
73	WALMART INC COM WMT	WMT	238,420	$27.0m0.25%	0.25%	Added +32.7k	+32,744 15.9%
74	CHARLES RIV LABS INTL INC COM CRL	CRL	116,144	$26.3m0.24%	0.24%	Added +20.7k	+20,748 21.8%
75	XPO INC COM XPO	XPO	128,028	$26.3m0.24%	0.24%	Reduced -4.8k	-4,850 -3.6%
76	TFI INTL INC COM TFII	TFII	182,513	$26.2m0.24%	0.24%	New
77	ANALOG DEVICES INC COM ADI	ADI	65,391	$26.0m0.24%	0.24%	Reduced -19.2k	-19,161 -22.7%
78	WARNER BROS DISCOVERY INC COM SER A WBD	WBD	952,800	$25.4m0.23%	0.23%	Added +225.0k	+225,000 30.9%
79	CASELLA WASTE SYS INC CL A CWST	CWST	253,511	$24.6m0.23%	0.23%	Added +151.4k	+151,385 148.2%
80	JOHNSON & JOHNSON COM JNJ	JNJ	96,594	$24.5m0.23%	0.23%	Added +45.2k	+45,197 87.9%
81	MARVELL TECHNOLOGY INC COM MRVL	MRVL	81,195	$24.2m0.22%	0.22%	Reduced -4.8k	-4,758 -5.5%
82	ELANCO ANIMAL HEALTH INC COM ELAN	ELAN	979,269	$24.1m0.22%	0.22%	Added +280.6k	+280,581 40.2%
83	VENTAS INC COM VTR	VTR	269,161	$23.9m0.22%	0.22%	Reduced -33.2k	-33,189 -11.0%
84	PENUMBRA INC COM PEN	PEN	75,200	$23.7m0.22%	0.22%	Reduced -4.8k	-4,800 -6.0%
85	SEAGATE TECHNOLOGY HLDNGS PL ORD SHS STX	STX	24,489	$23.6m0.22%	0.22%	Reduced -1.7k	-1,681 -6.4%
86	CAE INC COM CAE	CAE	944,020	$23.6m0.22%	0.22%	Reduced -610.4k	-610,396 -39.3%
87	ANGLOGOLD ASHANTI PLC COM SHS AU	AU	281,975	$22.8m0.21%	0.21%	Added +20.6k	+20,618 7.9%
88	DATADOG INC CL A COM DDOG	DDOG	87,319	$22.7m0.21%	0.21%	Added +80.3k	+80,279 1140.3%
89	MERCK & CO INC COM MRK	MRK	176,844	$22.7m0.21%	0.21%	Added +41.6k	+41,641 30.8%
90	VALLEY NATL BANCORP COM VLY	VLY	1,534,220	$22.5m0.21%	0.21%	Reduced -37.4k	-37,355 -2.4%
91	LIVE NATION ENTERTAINMENT IN NOTE 3.125% 1/1 LYV 3.125 01.15.29	LYV 3.125 01.15.29	12,500,000	$22.3m0.21%	0.21%	Added +2.5m	+2,500,000 25.0%
92	PPL CORP COM PPL	PPL	613,093	$22.3m0.21%	0.21%	Reduced -34.6k	-34,560 -5.3%
93	KKR & CO INC COM KKR	KKR	242,780	$22.3m0.21%	0.21%	Reduced -59.3k	-59,258 -19.6%
94	HOME DEPOT INC COM HD	HD	62,944	$22.2m0.20%	0.20%	Reduced -6.3k	-6,300 -9.1%
95	CORNING INC COM GLW	GLW	86,130	$22.0m0.20%	0.20%	Reduced -11.7k	-11,734 -12.0%
96	APOGEE THERAPEUTICS INC COM COM		165,000	$21.9m0.20%	0.20%	New
97	CARDINAL HEALTH INC COM CAH	CAH	91,615	$21.8m0.20%	0.20%	Reduced -37.5k	-37,519 -29.1%
98	D R HORTON INC COM DHI	DHI	130,540	$21.3m0.20%	0.20%	Added +31.2k	+31,215 31.4%
99	META PLATFORMS INC CL A META	META	37,656	$21.2m0.20%	0.20%	Reduced -15.9k	-15,875 -29.7%
100	TWILIO INC CL A TWLO	TWLO	102,625	$21.2m0.20%	0.20%	Added +14.7k	+14,735 16.8%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
LUMENTUM HLDGS INC LITE 1.5 12.15.29	LITE 1.5 12.15.29	5,000,000	$50.4m5.0m shares
HOLOGIC INC HOLX	HOLX	650,514	$49.2m650.5k shares
AIR LEASE CORP AL	AL	698,572	$45.4m698.6k shares
SEALED AIR CORP NEW		1,003,539	$42.2m1.0m shares
CLOUDFLARE INC NET	NET	119,286	$24.6m119.3k shares
CENTURION ACQUISITION CORP ALF	ALF	1,875,000	$20.2m1.9m shares
THOMSON REUTERS CORP		215,779	$19.5m215.8k shares
AMICUS THERAPEUTICS INC FOLD	FOLD	1,330,842	$19.2m1.3m shares
ARES MANAGEMENT CORPORATION ARES	ARES	173,255	$18.9m173.3k shares
NETFLIX INC NFLX	NFLX	184,915	$17.8m184.9k shares
WESTERN DIGITAL CORP WDC 3 11.15.28	WDC 3 11.15.28	2,000,000	$14.3m2.0m shares
SIM ACQUISITION CORP. I SIMA	SIMA	1,300,000	$13.9m1.3m shares
ARCELLX INC ACLX	ACLX	120,000	$13.8m120.0k shares
CARTESIAN GROWTH CORP III FAC	FAC	1,300,000	$13.3m1.3m shares
EXPAND ENERGY CORPORATION EXE	EXE	112,742	$12.4m112.7k shares
ADVANCED ENERGY INDS AEIS 2.5 09.15.28	AEIS 2.5 09.15.28	5,000,000	$12.0m5.0m shares
REGENERON PHARMACEUTICALS REGN	REGN	15,408	$11.9m15.4k shares
MASIMO CORP MASI	MASI	65,000	$11.6m65.0k shares
COTERRA ENERGY INC CTRA	CTRA	321,002	$11.3m321.0k shares
GRAF GLOBAL CORP TONT	TONT	1,004,280	$10.8m1.0m shares
STIFEL FINL CORP SF	SF	140,442	$10.4m140.4k shares
CLEARWATER ANALYTICS HLDGS I		423,900	$10.0m423.9k shares
PEPSICO INC PEP	PEP	59,316	$9.2m59.3k shares
VIASAT INC VSAT	VSAT	172,089	$7.9m172.1k shares
KLAVIYO INC KVYO	KVYO	401,068	$7.8m401.1k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
ISHARES TR HYG · Call	HYG	Call	5,000,000	$399.9m5.0m shares	Unchanged
ISHARES TR HYG · Put	HYG	Put	5,000,000	$399.9m5.0m shares	Reduced
ISHARES TR MTUM · Put	MTUM	Put	1,000,000	$342.8m1.0m shares	Added
INVESCO QQQ TR QQQ · Call	QQQ	Call	300,000	$220.9m300.0k shares	New
VANECK ETF TRUST SMH · Put	SMH	Put	300,000	$196.8m300.0k shares	New
CROWDSTRIKE HLDGS INC CRWD · Call	CRWD	Call	160,000	$122.1m160.0k shares	New
MONGODB INC MDB · Call	MDB	Call	355,000	$119.2m355.0k shares	Added
SNOWFLAKE INC SNOW · Call	SNOW	Call	454,000	$115.5m454.0k shares	New
MICRON TECHNOLOGY INC MU · Put	MU	Put	100,000	$115.4m100.0k shares	New
CELESTICA INC CLS · Call	CLS	Call	156,000	$56.9m156.0k shares	New
GILDAN ACTIVEWEAR INC GIL · Call	GIL	Call	1,000,000	$51.4m1.0m shares	New
MARVELL TECHNOLOGY INC MRVL · Call	MRVL	Call	170,000	$50.6m170.0k shares	Reduced
TWILIO INC TWLO · Call	TWLO	Call	240,000	$49.5m240.0k shares	New
BROADCOM INC AVGO · Call	AVGO	Call	100,000	$37.8m100.0k shares	New
AKAMAI TECHNOLOGIES INC AKAM · Call	AKAM	Call	300,000	$35.5m300.0k shares	Added
HUDBAY MINERALS INC HBM · Call	HBM	Call	1,500,000	$35.3m1.5m shares	Added
TEVA PHARMACEUTICAL INDS LTD Call		Call	1,000,000	$33.9m1.0m shares	Unchanged
ALPHABET INC GOOGL · Call	GOOGL	Call	90,000	$32.2m90.0k shares	New
ROCKET COS INC RKT · Call	RKT	Call	1,900,000	$29.9m1.9m shares	New
CENOVUS ENERGY INC CVE · Call	CVE	Call	1,200,000	$29.7m1.2m shares	New
SHOPIFY INC SHOP · Call	SHOP	Call	250,000	$28.5m250.0k shares	Added
APOGEE THERAPEUTICS INC Put		Put	200,000	$26.5m200.0k shares	New
NAVITAS SEMICONDUCTOR CORP NVTS · Call	NVTS	Call	1,320,000	$23.7m1.3m shares	New
JFROG LTD FROG · Call	FROG	Call	260,000	$23.6m260.0k shares	Added
TECK RESOURCES LTD TECK · Call	TECK	Call	390,000	$23.2m390.0k shares	Reduced

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
TELEPHONE & DATA SYSTEMS SER U TDS 6.625 PERP UU · 13G · filed 2026-08-11	TDS 6.625 PERP UU	11.2%	+1.1 pts	13G	2026-08-11
HCM II ACQUISITION CORP 13G · filed 2024-10-17		8.6%	new	13G	2024-10-17
RITHM CAPITAL CORP RITM · 13G · filed 2026-04-27	RITM	8.3%	new	13G	2026-04-27
CHENGHE ACQUISITION III CO CHEC · 13G · filed 2025-12-09	CHEC	7.7%≈ $10.2m	new	13G	2025-12-09
LAUNCH ONE ACQUISITION CORP LPAAU · 13G · filed 2024-10-17	LPAAU	7.3%	new	13G	2024-10-17
FACT II ACQUISITION CORP FACT · 13G · filed 2025-05-13	FACT	6.8%≈ $13.3m	new	13G	2025-05-13
FIGX CAP ACQUISITION CORP. FIGXU · 13G · filed 2025-08-06	FIGXU	6.6%≈ $10.3m	new	13G	2025-08-06
M3BRIGADE ACQUISITION V CORP VLOSU · 13G · filed 2024-10-09	VLOSU	6.5%	new	13G	2024-10-09
T-MOBILE USA INC TMUS 6.25 09.01.69 · 13G · filed 2025-10-16	TMUS 6.25 09.01.69	6.5%	no change	13G	2025-10-16
SIM ACQUISITION CORP. I SIMAU · 13G · filed 2024-10-17	SIMAU	6.1%	new	13G	2024-10-17
GALATA ACQUISITION CORP II LATA · 13G · filed 2026-01-12	LATA	5.8%≈ $10.1m		13G	2026-01-12
GALATA ACQUISITION CORP II LATAU · 13G · filed 2025-10-15	LATAU	5.8%	new	13G	2025-10-15
PONO CAP FOUR INC PONO · 13G · filed 2026-10-20	PONO	5.7%≈ $7.0m	new	13G	2026-10-20
UNITED ACQUISITION CORP I UAC · 13G · filed 2026-10-20	UAC	5.7%≈ $6.0m	new	13G	2026-10-20
SOCIAL COMM PARTNERS CORP SCPQ · 13G · filed 2026-10-20	SCPQ	5.6%≈ $5.7m	new	13G	2026-10-20
BLUE WTR ACQUISITION CORP. I BLUW · 13G · filed 2026-10-20	BLUW	5.4%≈ $14.4m	new	13G	2026-10-20
FLAGSTAR BAN 6 375 PFDPFD SER A FLG V6.375 PERP A. · 13G · filed 2026-08-11	FLG V6.375 PERP A.	5.1%	new	13G	2026-08-11