PICTON MAHONEY ASSET MANAGEMENT

CIK

1539041

Location

Toronto, A6

Portfolio Value

Mid $1,362,442,633

Diversification

Diversified

Filing Date

Global Rank

#420 / 8,586 ▲ 44

Top Industry

Gold 10.2%

3Y Alpha vs SPY

-0.4%

Period ended 3 months ago

Filed May 13, 2026 · 34d

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+78.1%

SPY

+78.1%

Annualised alpha

+0.0%

Max drawdown

−20.0%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

952 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

4.4%

−0.7 pts

Top 5

15.9%

−0.2 pts

Top 10

25.1%

+0.6 pts

HHI

106

Diversified−8

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	24.6%	$2,406,153,949	244
Technology	17.3%	$1,688,330,219	131
Basic Materials	14.0%	$1,362,442,633	44
Energy	10.9%	$1,060,267,892	43
Industrials	9.7%	$944,719,537	138
Consumer Cyclical	6.9%	$670,533,500	102
Healthcare	6.1%	$591,555,300	92
Communication Services	4.5%	$436,934,252	29
Utilities	2.9%	$281,507,931	32
Consumer Defensive	1.9%	$188,525,906	45
Real Estate	1.1%	$106,510,456	43
Unclassified	0.3%	$28,017,679	9

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
TECK	Teck Resources Ltd	+2,254,233	3,249,983	$168,186,620
SU	Suncor Energy Inc	+1,919,912	2,874,698	$190,046,284
AQN	Algonquin Power & Utilities Corp.	+1,361,666	4,880,746	$29,967,780
TEVA	Teva Pharmaceutical Industries Ltd	+1,229,467	1,810,218	$54,523,766
PAAS	Pan American Silver Corp	+797,248	810,557	$44,280,728
CGNX	Cognex Corp	+779,673	928,655	$45,494,808
BRZE	Braze, Inc.	+759,762	1,200,172	$28,336,060
FOLD	AMICUS THERAPEUTICS, INC.	+715,674	1,330,842	$19,243,975
CNQ	Canadian Natural Resources Ltd	+714,806	5,381,403	$262,235,768
OR	OR Royalties Inc.	+679,676	3,840,194	$146,004,175
CAE	Cae Inc	+596,729	1,554,416	$40,492,536
HBAN	Huntington Bancshares Inc /Md/	+473,245	609,118	$9,532,696
HOLX	HOLOGIC INC	+449,300	950,514	$71,849,353
SHOP	Shopify Inc.	+412,685	2,345,617	$278,237,088
BKD	Brookdale Senior Living Inc.	+411,490	963,997	$13,187,478
AEM	Agnico Eagle Mines Ltd	+381,736	1,148,916	$233,206,969
KVYO	Klaviyo, Inc.	+368,774	401,068	$7,804,783
TD	Toronto Dominion Bank	+349,746	3,746,718	$349,606,256
GLXY	Galaxy Digital Inc.	+345,127	346,627	$6,395,268
KKR	KKR & Co. Inc.	+327,463	602,038	$55,688,515
HPE	Hewlett Packard Enterprise Co	+269,940	287,710	$6,850,375
ARES	Ares Management Corp	+263,918	393,255	$42,904,120
MGNI	Magnite, Inc.	+254,947	643,078	$7,639,766
JHG	Janus Henderson Group PLC	+250,000	425,031	$21,833,842
TEAM	Atlassian Corp	+247,011	323,360	$22,069,320
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
CVE	Cenovus Energy Inc.	−1,957,036	4,867,402	$129,132,175
BCE	Bce Inc	−1,932,398	31,541	$796,094
SSRM	Ssr Mining Inc.	−1,637,724	58,772	$1,727,896
BB	BLACKBERRY Ltd	−1,602,252	137,030	$443,977
BSX	Boston Scientific Corp	−938,690	31,215	$1,958,741
MFC	Manulife Financial Corp	−837,605	1,058,547	$36,456,358
CM	Canadian Imperial Bank Of Commerce /Can/	−811,563	183,173	$17,355,641
BAC	Bank Of America Corp /De/	−731,681	8,458	$412,327
SVAC	Spring Valley Acquisition Corp. III	−700,000	319,677	$3,247,918
BIPH	Brookfield Infrastructure Partners L.P.	−639,158	1,203,560	$43,472,587
B	Barrick Mining Corp	−632,660	2,790,362	$113,818,865
SIMA	SIM Acquisition Corp. I	−500,000	1,300,000	$13,936,000
GPAT	GP-Act III Acquisition Corp.	−500,000	1,375,000	$14,905,000
RKT	Rocket Companies, Inc.	−338,162	1,578,770	$22,497,472
CWK	Cushman & Wakefield Ltd.	−331,816	58,687	$719,502
HBM	Hudbay Minerals Inc.	−275,457	4,758,830	$99,459,547
IAG	Iamgold Corp	−270,220	4,758,754	$89,559,750
SAIL	SailPoint, Inc.	−251,938	33,920	$449,100
CTLP	Cantaloupe, Inc.	−250,000	150,000	$1,621,500
SNOW	Snowflake Inc.	−240,080	107,420	$16,201,084
OSW	ONESPAWORLD HOLDINGS Ltd	−239,304	159,644	$3,663,829
ADMA	Adma Biologics, Inc.	−230,752	64	$576
NTGR	Netgear, Inc.	−223,486	8,412	$183,718
DBRG	DigitalBridge Group, Inc.	−218,946	231,455	$3,569,036
RDNT	RadNet, Inc.	−208,545	309,120	$17,276,716
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
SLF	Sun Life Financial Inc	1,374,917	$86,014,807
SJM	J M SMUCKER Co	366,050	$35,301,862
COHR	Coherent Corp.	120,294	$28,655,233
MRVL	Marvell Technology, Inc.	285,953	$28,323,644
PEN	Penumbra Inc	80,000	$26,269,600
AU	AngloGold Ashanti PLC	261,357	$25,445,717
ACLX	Arcellx, Inc.	195,000	$22,389,900
NOW	ServiceNow, Inc.	200,000	$20,910,000
CDE	Coeur Mining, Inc.	1,079,102	$20,254,744
CGAU	Centerra Gold Inc.	1,100,036	$19,569,640
OVV	Ovintiv Inc.	297,560	$17,663,161
CENX	Century Aluminum Co	295,330	$17,332,917
MRK	Merck & Co., Inc.	135,203	$16,263,568
WMB	Williams Companies, Inc.	220,576	$16,053,521
AAOI	Applied Optoelectronics, Inc.	180,080	$15,232,967
CTAS	Cintas Corp	82,857	$14,014,432
TW	Tradeweb Markets Inc.	101,902	$11,989,789
CTRA	Coterra Energy Inc.	321,002	$11,280,010
CAT	Caterpillar Inc	15,803	$11,195,793
SO	Southern Co	114,444	$11,046,134
AMPX	Amprius Technologies, Inc.	650,000	$10,959,000
AEAQ	Activate Energy Acquisition Corp.	1,025,000	$10,137,250
CL	Colgate Palmolive Co	108,372	$9,236,545
SEI	Solaris Energy Infrastructure, Inc.	163,385	$9,232,886
DIA	Spdr Dow Jones Industrial Average ETF Trust	19,500	$9,032,205
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
EXAS	EXACT SCIENCES CORP	700,000	$71,092,000
CIGI	Colliers International Group Inc.	375,697	$55,231,215
ZG	Zillow Group, Inc.	780,000	$53,219,400
ORCL	Oracle Corp	200,000	$38,982,000
CSGP	Costar Group, Inc.	504,140	$33,898,373
TPG	TPG Inc.	440,521	$28,122,860
MEOH	Methanex Corp	422,784	$16,792,980
FTW	PRESIDIO PRODUCTION Co	1,549,997	$16,259,468
TU	Telus Corp	1,200,000	$15,804,000
NGD	New Gold Inc. /FI	1,635,694	$14,246,894
APPN	Appian Corp	400,000	$14,168,000
GFI	Gold Fields Ltd	322,907	$14,098,119
DPZ	Dominos Pizza Inc	29,842	$12,438,742
INSM	INSMED Inc	57,259	$9,965,356
FSLR	First Solar, Inc.	38,077	$9,946,854
CCIX	Churchill Capital Corp IX/Cayman	898,300	$9,548,929
AMKR	Amkor Technology, Inc.	232,949	$9,196,826
QCOM	Qualcomm Inc/De	52,709	$9,015,874
SLG	Sl Green Realty Corp	195,334	$8,959,970
TGNA	TEGNA INC	450,000	$8,734,500
CRDO	Credo Technology Group Holding Ltd	55,455	$7,979,419
U	Unity Software Inc.	172,124	$7,602,717
PFE	Pfizer Inc	289,736	$7,214,426
MKTX	Marketaxess Holdings Inc	32,396	$5,871,775
NRG	Nrg Energy, Inc.	36,698	$5,843,789
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

44 positions · $1,362,442,633 total · Basic Materials only · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
AEM	Agnico Eagle Mines Ltd Basic Materials	Added	1,148,916	+381,736	$233,206,969	+79.3%	17.12%
FNV	FRANCO NEVADA Corp Basic Materials	Added	759,289	+128,586	$187,582,347	+43.5%	13.77%
TECK	Teck Resources Ltd Basic Materials	Added	3,249,983	+2,254,233	$168,186,620	+252.7%	12.34%
OR	OR Royalties Inc. Basic Materials	Added	3,840,194	+679,676	$146,004,175	+30.5%	10.72%
B	Barrick Mining Corp Basic Materials	Reduced	2,790,362	-632,660	$113,818,865	−23.6%	8.35%
WPM	Wheaton Precious Metals Corp. Basic Materials	Reduced	805,623	-4,715	$105,544,669	+10.8%	7.75%
HBM	Hudbay Minerals Inc. Basic Materials	Reduced	4,758,830	-275,457	$99,459,547	−0.5%	7.30%
IAG	Iamgold Corp Basic Materials	Reduced	4,758,754	-270,220	$89,559,750	+8.0%	6.57%
PAAS	Pan American Silver Corp Basic Materials	Added	810,557	+797,248	$44,280,728	+6321.8%	3.25%
AU	AngloGold Ashanti PLC Basic Materials	NEW	261,357	NEW	$25,445,717	NEW	1.87%
CDE	Coeur Mining, Inc. Basic Materials	NEW	1,079,102	NEW	$20,254,744	NEW	1.49%
CGAU	Centerra Gold Inc. Basic Materials	NEW	1,100,036	NEW	$19,569,640	NEW	1.44%
SLSR	Solaris Resources Inc. Basic Materials	Added	2,157,522	+114,683	$18,511,538	+13.7%	1.36%
CENX	Century Aluminum Co Basic Materials	NEW	295,330	NEW	$17,332,917	NEW	1.27%
NTR	Nutrien Ltd. Basic Materials	Reduced	223,150	-5,281	$16,838,899	+19.4%	1.24%
IFF	International Flavors & Fragrances Inc Basic Materials	Added	101,665	+47,895	$7,375,795	+103.6%	0.54%
HSLV	Highlander Silver Corp. Basic Materials	NEW	1,183,093	NEW	$6,956,586	NEW	0.51%
PPTA	Perpetua Resources Corp. Basic Materials	Reduced	246,281	-6,332	$6,925,421	+13.2%	0.51%
GMTL	Guardian Metal Resources PLC Basic Materials	NEW	309,395	NEW	$5,408,224	NEW	0.40%
ALM	Almonty Industries Inc. Basic Materials	NEW	349,178	NEW	$5,056,097	NEW	0.37%
SKE	Skeena Resources Ltd Basic Materials	Added	154,900	+28,900	$4,603,628	+54.0%	0.34%
EXP	Eagle Materials Inc Basic Materials	Reduced	23,318	-22,187	$4,417,595	−53.0%	0.32%
KGC	Kinross Gold Corp Basic Materials	Added	121,830	+55,372	$3,718,251	+98.7%	0.27%
SOLS	Solstice Advanced Materials Inc. Basic Materials	NEW	36,881	NEW	$2,808,856	NEW	0.21%
ERO	Ero Copper Corp. Basic Materials	Reduced	67,730	-10,928	$1,806,359	−18.8%	0.13%
SSRM	Ssr Mining Inc. Basic Materials	Reduced	58,772	-1,637,724	$1,727,896	−95.4%	0.13%
FSM	Fortuna Mining Corp. Basic Materials	Added	161,547	+3,879	$1,604,161	+3.7%	0.12%
SVM	Silvercorp Metals Inc Basic Materials	Added	121,322	+74,401	$1,302,998	+233.0%	0.10%
ORLA	Orla Mining Ltd. Basic Materials	Added	48,697	+10,813	$785,482	+53.9%	0.06%
LIN	Linde PLC Basic Materials	NEW	1,558	NEW	$772,394	NEW	0.06%
EGO	Eldorado Gold Corp /Fi Basic Materials	Reduced	17,626	-5,292	$605,100	−26.5%	0.04%
AA	Alcoa Corp Basic Materials	Reduced	7,222	-597	$479,035	+15.3%	0.04%
FCX	Freeport-Mcmoran Inc Basic Materials	NEW	6,589	NEW	$387,301	NEW	0.03%
UFPI	Ufp Industries Inc Basic Materials	Added	1,017	+1,007	$93,686	+10195.2%	0.01%
HCC	Warrior Met Coal, Inc. Basic Materials	Held	21	0	$1,956	+5.7%	0.00%
CF	CF Industries Holdings, Inc. Basic Materials	Held	14	0	$1,817	+67.9%	0.00%
AMR	Alpha Metallurgical Resources, Inc. Basic Materials	Held	6	0	$1,231	+2.7%	0.00%
LYB	LyondellBasell Industries N.V. Basic Materials	Held	12	0	$966	+86.1%	0.00%
WLK	Westlake Corp Basic Materials	Held	8	0	$934	+58.0%	0.00%
EMN	Eastman Chemical Co Basic Materials	Held	11	0	$839	+19.5%	0.00%
CBT	Cabot Corp Basic Materials	Held	11	0	$828	+13.6%	0.00%
TGLS	Tecnoglass Inc. Basic Materials	Held	17	0	$757	−11.5%	0.00%
BCC	BOISE CASCADE Co Basic Materials	Held	9	0	$682	+3.0%	0.00%
SLVM	Sylvamo Corp Basic Materials	Held	15	0	$633	−12.3%	0.00%