PICTON MAHONEY ASSET MANAGEMENT

Q3 2025 13F-HR Holdings

Location
Toronto, A6
Holdings as of
9/30/2025
Date filed
11/12/2025
Form type
13F-HR
Num holdings
1,069
Total value ($000)
$11,082,966
Net value change ($000)
+1,368,388 (14.1%)
New positions
260
Sold out positions
192
Turnover %
22.1%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/12/2025 Next filing: 2/11/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
VOE 59,069 497.7%
CM 56,255 91.1%
SHOP 54,976 27.2%
FNV 50,946 63.2%
B 49,953 2708.9%
CYBR 49,898 210.9%
RY 49,848 15.1%
BN 39,796 28.3%
SSRM 38,542 313.9%
AEM 37,264 27.8%
Top Reduces (Value $000, Stocks/ETFs)
SLF -87,660 -100.0%
WCN -45,963 -32.6%
TRI -45,306 -46.0%
DNB -35,149 -100.0%
CP -35,117 -18.0%
TECK -34,092 -40.9%
AZEK -31,636 -100.0%
SKAA -30,289 -100.0%
LPLA -30,076 -97.6%
MET -28,187 -100.0%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 3,241,514 (29.2% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type