Fund Holdings — PICTON MAHONEY ASSET MANAGEMENT

Total Portfolio Value
$9.14B
Total Bought
$6.65B
Total Sold
$2.06B
Net Transaction
+$4.59B
Filing Period:
Securities
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SharesValue ($K)
Q3 2025
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Q4 2025
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Change
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Q3 2025
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Q4 2025
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Weight (%)
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Change
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ROYAL BK CDA(RY)2,577,5932,652,043+74,450380452,7544.95%+452,375
TORONTO DOMINION BK ONT(TD)3,252,1293,396,972+144,843260320,6103.51%+320,350
SHOPIFY INC(SHOP)1,731,0481,932,932+201,884257311,6693.41%+311,412
BROOKFIELD CORP(BN)2,629,0233,613,638+984,615180166,1531.82%+165,973
CANADIAN PACIFIC KANSAS CITY(CP)2,147,1652,252,702+105,537160166,0831.82%+165,923
CANADIAN NAT RES LTD(CNQ)5,170,0544,666,597-503,457165158,2871.73%+158,122
NVIDIA CORPORATION(NVDA)736,703802,128+65,425137149,5971.64%+149,459
BARRICK MNG CORP(B)1,577,3593,423,022+1,845,66352149,3221.63%+149,270
FRANCO NEV CORP(FNV)591,206630,703+39,497132130,9201.43%+130,789
AGNICO EAGLE MINES LTD(AEM)1,017,406767,180-250,226171130,2841.43%+130,112
ENBRIDGE INC(ENB)2,704,4982,666,336-38,162136127,7711.40%+127,635
ALPHABET INC(GOOG)330,696382,808+52,11280119,8191.31%+119,739
CENOVUS ENERGY INC(CVE)6,389,7036,824,438+434,735108115,6151.27%+115,506
TC ENERGY CORP(TRP)2,037,0102,055,963+18,953111113,3721.24%+113,262
WASTE CONNECTIONS INC(WCN)540,326641,243+100,91795112,6211.23%+112,526
APPLE INC(AAPL)420,307413,092-7,215107112,3031.23%+112,196
OR ROYALTIES INC(OR)3,109,6363,160,518+50,882125112,1141.23%+111,989
MICROSOFT CORP(MSFT)266,830227,053-39,777138109,8071.20%+109,669
ROGERS COMMUNICATIONS INC(RCI)2,673,6252,797,253+123,62892105,7381.16%+105,646
HUDBAY MINERALS INC(HBM)6,350,4825,034,287-1,316,19596100,0901.10%+99,994
VANGUARD INDEX FDS406,324547,312+140,9887197,0771.06%+97,006
WHEATON PRECIOUS METALS CORP(WPM)461,195810,338+349,1435295,4001.04%+95,348
CANADIAN IMPERIAL BANK OF CO(CM)1,477,258994,736-482,52211890,3060.99%+90,188
CELESTICA INC(CLS)357,341285,710-71,6318884,6340.93%+84,547
IAMGOLD CORP(IAG)3,893,4225,028,974+1,135,5525083,1060.91%+83,056
BOYD GROUP SERVICES INC(BGSI)0509,542+509,542081,2780.89%+81,278
AMAZON COM INC(AMZN)242,851342,697+99,8465379,1010.87%+79,048
GILDAN ACTIVEWEAR INC(GIL)1,043,3621,126,550+83,1886070,5130.77%+70,453
CYBERARK SOFTWARE LTD152,257158,005+5,7487470,4800.77%+70,406
MANULIFE FINL CORP(MFC)1,507,8471,896,152+388,3054768,9500.75%+68,903
BROOKFIELD INFRAST PARTNERS
LP INT UNIT
1,768,7341,842,718+73,9845864,1440.70%+64,085
BROADCOM INC(AVGO)198,249181,673-16,5766562,8770.69%+62,812
ELECTRONIC ARTS INC75,000282,500+207,5001557,7230.63%+57,708
COLLIERS INTL GROUP INC(CIGI)349,231375,697+26,4665555,2990.61%+55,244
BRP INC(DOO)323,147700,057+376,9102049,5690.54%+49,550
FIRSTSERVICE CORP NEW331,730307,346-24,3846347,8640.52%+47,801
TECK RESOURCES LTD(TECK)1,122,452995,750-126,7024947,7380.52%+47,689
BCE INC(BCE)587,4881,963,939+1,376,4511446,9130.51%+46,899
BROOKFIELD RENEWABLE PARTNER
PARTNERSHIP UNIT
1,070,6391,678,827+608,1882845,4310.50%+45,403
ELI LILLY & CO(LLY)29,25341,372+12,1192244,4620.49%+44,439
CAMECO CORP(CCJ)457,311481,834+24,5233844,1820.48%+44,144
DESCARTES SYS GROUP INC(DSGX)444,774496,483+51,7094243,6170.48%+43,575
SUNCOR ENERGY INC NEW(SU)627,313954,786+327,4732642,4380.46%+42,411
META PLATFORMS INC(META)68,59564,020-4,5755042,2590.46%+42,209
AIR LEASE CORP
CL A
200,000642,725+442,7251341,2820.45%+41,269
CAPITAL ONE FINL CORP(COF)165,686170,385+4,6993541,2950.45%+41,259
BANK AMERICA CORP694,393740,139+45,7463640,7080.45%+40,672
EXACT SCIENCES CORP(EXK)0400,000+400,000040,6240.44%+40,624
MAGNA INTL INC(MGA)36,390745,714+709,324239,8100.44%+39,808
DAYFORCE INC0550,000+550,000038,0380.42%+38,038
HOLOGIC INC14501,214+501,200037,3350.41%+37,335
SSR MINING IN(SSRM)2,081,8641,696,496-385,3685137,2440.41%+37,193
ROCKET COS INC(RKT)1,694,8381,916,932+222,0943337,1120.41%+37,079
MORGAN STANLEY(MS)175,441205,008+29,5672836,3950.40%+36,367
SCHWAB CHARLES CORP(SCHW)377,885358,351-19,5343635,8030.39%+35,767
BOSTON SCIENTIFIC CORP(BSX)340,103369,905+29,8023335,2700.39%+35,237
KKR & CO INC(KKR)243,062274,575+31,5133235,0030.38%+34,971
SPDR SERIES TRUST
ST STR SP REGBNK
590,874534,159-56,7153734,6190.38%+34,581
CANADIAN NATL RY CO(CNI)174,203344,448+170,2451634,1150.37%+34,099
CHART INDS INC160,323157,979-2,3443232,5800.36%+32,548
SEALED AIR CORP NEW(SDA)0771,800+771,800031,9760.35%+31,976
AVIDITY BIOSCIENCES INC0425,000+425,000030,6550.34%+30,655
WALMART INC(WMT)265,263274,867+9,6042730,6230.34%+30,596
MONGODB INC(MDB)103,25572,421-30,8343230,3940.33%+30,362
CAE INC(CAE)0957,687+957,687029,1650.32%+29,165
THOMSON REUTERS CORP(TRI)342,897218,799-124,0985328,9150.32%+28,862
TAIWAN SEMICONDUCTOR MFG LTD(TSM)81,44992,634+11,1852328,1510.31%+28,128
TPG INC(TPG)423,584440,521+16,9372428,1230.31%+28,099
TJX COS INC NEW(TJX)177,443182,795+5,3522628,0790.31%+28,053
INTUITIVE SURGICAL INC328,79348,586-280,2072427,5170.30%+27,493
HOWMET AEROSPACE INC(HWM)146,977132,595-14,3822927,1850.30%+27,156
SPOTIFY TECHNOLOGY S A(SPOT)40,79646,680+5,8842827,1080.30%+27,079
RBC BEARINGS INC(RBC)54,98960,433+5,4442127,1000.30%+27,079
SPROTT INC(SII)275,478274,262-1,2162326,9020.29%+26,879
THERMO FISHER SCIENTIFIC INC(TMO)35,07745,459+10,3821726,3410.29%+26,324
MUELLER INDS INC(MLI)223,048228,022+4,9742326,1770.29%+26,154
NORFOLK SOUTHN CORP(NSC)80,00090,000+10,0002425,9850.28%+25,961
UNITED RENTALS INC(URI)30,44531,360+9152925,3800.28%+25,351
XPO INC(XPO)151,785183,573+31,7882024,9490.27%+24,930
BOEING CO(BA)115,683112,582-3,1012524,4440.27%+24,419
APOLLO GLOBAL MGMT INC(APO)148,713168,254+19,5412024,3560.27%+24,337
MASTERCARD INCORPORATED(MA)32,64041,753+9,1131923,8360.26%+23,817
STIFEL FINL CORP(SF)137,454188,987+51,5331623,6650.26%+23,649
SNOWFLAKE INC(SNOW)100,052107,500+7,4482323,5810.26%+23,559
BROOKFIELD BUSINESS PARTNERS696,679627,777-68,9022322,2460.24%+22,223
CITIGROUP INC(C)141,341190,038+48,6971422,1760.24%+22,161
VENTAS INC(VTR)280,965284,851+3,8862022,0420.24%+22,022
ASSURANT INC(AIZ)091,405+91,405022,0150.24%+22,015
ANALOG DEVICES INC(ADI)77,89380,409+2,5161921,8070.24%+21,788
ALGONQUIN PWR UTILS CORP1,199,4173,519,080+2,319,663621,6700.24%+21,663
CADENCE BANK0505,100+505,100021,6380.24%+21,638
LUMENTUM HLDGS INC(LITE)04,000,000+4,000,000021,2580.23%+21,258
NATERA INC(NTRA)101,90392,113-9,7901621,1020.23%+21,086
ARES MANAGEMENT CORPORATION(ARES)71,727129,337+57,6101120,9050.23%+20,893
COCA COLA CO(KO)308,916297,705-11,2112020,8130.23%+20,792
QUANTA SVCS INC63,77548,054-15,7212620,2820.22%+20,255
GP-ACT III ACQUISITION CORP(GPAT)1,875,0001,875,00002020,0440.22%+20,024
CENTURION ACQUISITION CORP(ALF)1,875,0001,875,00002019,9690.22%+19,949
PERFORMANCE FOOD GROUP CO(PFGC)194,830221,357+26,5272019,9040.22%+19,884
HOME DEPOT INC(HD)49,70057,673+7,9732019,8450.22%+19,825
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