Murchinson Ltd.

Exempt adviser

CIK

1838556

Location

TORONTO, A6

Portfolio Value

Small $649,106,924

Diversification

Diversified

Filing Date

Global Rank

#3,185 / 8,811 ▼ 654

Top Industry

Banks - Diversified 47.5%

Period ended 4 months ago

Filed Aug 14, 2026 · 2mo

21 quarters · since Jun 2021

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Exempt adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 310138

Roster of Oct 1, 2026

Private funds

0 funds

$0 gross assets

LEI

254900E7H4X3M1TVBI58

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Jun 2023 to Oct 2026	—	—
May 2023	$0	—
Sep 2020 to Apr 2023	—	—

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Concentrated

The top 10 positions are 73.5% of the book (60%+)

Turnover

High turnover

137.3% over the last four quarters (100%+)

Horizon

Medium horizon

Value-weighted holding period 5.6 quarters (4 to under 12)

Closest benchmark: the Nasdaq-100 as of 2026-06-30, active share 98.6%; sector active share 31.1% against the combined 13F book's sector weights.

Over time 21 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

77 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

14.6%

−19.8 pts

Top 5

49.7%

−20.5 pts

Top 10

65.9%

−18.0 pts

HHI

653

Diversified−972

Portfolio Trend

21 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Financial Services	58.2%	$377,666,920	17
Energy	11.3%	$73,633,623	7
Industrials	8.7%	$56,374,572	9
Technology	6.0%	$38,934,089	10
Basic Materials	3.8%	$24,891,437	5
Communication Services	3.6%	$23,617,336	7
Healthcare	2.8%	$18,497,694	6
Unclassified	2.8%	$18,189,600	7
Utilities	2.2%	$14,404,445	6
Consumer Cyclical	0.4%	$2,473,058	2
Real Estate	0.1%	$424,150	1

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

5 positions

Ticker	Company	Δ Shares	Shares	Value
NNDM	Nano Dimension Ltd.	+3,286,276	18,836,276	$27,312,600
MSOS	AdvisorShares Pure US Cannabis ETF	+250,000	1,249,895	$6,349,466
BHF	Brighthouse Financial, Inc.	+100,000	103,740	$6,566,742
WBD	Warner Bros. Discovery, Inc.	+30,000	330,000	$8,797,800
PTHS	Pelthos Therapeutics Inc.	+7,988	304,302	$8,599,574
No positions match the current search.

Trimmed

Positions the filer reduced

6 positions

Ticker	Company	Δ Shares	Shares	Value
NTR	Nutrien Ltd.	−631,900	27,631	$1,739,371
TDAY	USA TODAY Co., Inc.	−120,000	200,000	$1,710,000
XAIR	Beyond Air, Inc.	−55,779	274,208	$122,296
ORMP	Oramed Pharmaceuticals Inc.	−25,000	1,290,294	$6,206,314
LNSR	LENSAR, Inc.	−23,337	13,223	$75,503
CNI	Canadian National Railway Co	−8,300	8,135	$970,017
No positions match the current search.

New Positions

Positions the filer opened this quarter

23 positions

Ticker	Company	Shares	Value
NWAX	New America Acquisition I Corp.	1,475,000	$14,971,250
CM	Canadian Imperial Bank Of Commerce /Can/	110,062	$12,657,130
MRVL	Marvell Technology, Inc.	20,000	$5,957,800
TRLV	Trulieve Cannabis Corp.	355,200	$3,491,616
SKM	Sk Telecom Co Ltd	100,000	$3,216,000
TRP	Tc Energy Corp	38,367	$2,543,348
FTS	Fortis Inc.	35,433	$2,027,830
BRUN	Boost Run Inc.	52,000	$2,018,120
IMO	Imperial Oil Ltd	17,512	$1,961,694
CP	Canadian Pacific Kansas City Ltd/Cn	22,357	$1,937,234
CNQ	CANADIAN NATURAL RESOURCES Ltd	40,635	$1,605,082
PBA	Pembina Pipeline Corp	25,038	$1,158,007
BAM	Brookfield Asset Management Ltd.	18,924	$848,741
ENB	Enbridge Inc	15,141	$820,793
AIFF	Firefly Neuroscience, Inc.	650,000	$786,500
SU	Suncor Energy Inc	13,076	$701,919
CAE	Cae Inc	15,021	$376,426
DAL	Delta Air Lines, Inc.	4,000	$374,640
EROC	ERock, Inc.	25,000	$362,500
BN	BROOKFIELD Corp /ON/	7,638	$325,302
EXYNW	Exyn Technologies, Inc.	129,000	$171,570
VBIO	Valion Bio, Inc.	115,000	$2,391
EWY	iShares Trust	100,000	$0
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
SOBO	South Bow Corp	1,725,100	$57,480,332
RY	Royal Bank Of Canada	75,192	$12,164,561
GDXJ	VanEck Junior Gold Miners ETF	37,500	$4,501,500
SUNC	SunocoCorp LLC	58,527	$3,608,189
BMO	Bank Of Montreal /Can/	20,046	$2,713,025
KVUE	Kenvue Inc.	150,000	$2,586,000
SLV	iShares Silver Trust	15,000	$1,022,100
ATKR	Atkore Inc.	15,000	$883,650
UA	Under Armour, Inc.	150,000	$868,500
FNV	FRANCO NEVADA Corp	3,164	$781,666
OGG	Osisko Gold Group Inc.	200,000	$650,000
IXHL	Incannex Healthcare Inc.	104,113	$312,339
VNDA	Vanda Pharmaceuticals Inc.	30,000	$207,300
—		47,500	$0
—		18,600	$0
—		3,060	$0
—		14,200	$0
—		9,900	$0
—		3,700	$0
—		20,100	$0
—		10,100	$0
—		12,700	$0
—		5,000	$0
—		17,700	$0
—		30,100	$0
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

77 tracked positions · $649,106,924 total · filing declares 125 positions · $724,804,416 · as of Jun 30, 2026

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

Showing 1–50 of 77 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
CM	Canadian Imperial Bank Of Commerce /Can/ PUT CALL + SHARES Financial Services	Added	825,062	+611,862	$94,882,130	+369.7%	1	$109.68	14.62%
BMO	Bank Of Montreal /Can/ PUT CALL Financial Services	Added	469,400	+149,354	$82,942,980	+91.5%	—	—	12.78%
TD	Toronto Dominion Bank PUT CALL Financial Services	Added	511,200	+1,200	$62,075,016	+30.4%	—	—	9.56%
RY	Royal Bank Of Canada PUT CALL Financial Services	Reduced	266,400	-475,992	$55,136,808	−54.1%	—	—	8.49%
NNDM	Nano Dimension Ltd. Technology	Added	18,836,276	+3,286,276	$27,312,600	+3.3%	19	$2.63	4.21%
CP	Canadian Pacific Kansas City Ltd/Cn PUT CALL + SHARES Industrials	Added	296,357	+180,957	$25,679,334	+182.9%	1	$85.68	3.96%
SU	Suncor Energy Inc PUT CALL + SHARES Energy	Added	458,076	+232,476	$24,589,519	+64.9%	1	$63.33	3.79%
CNI	Canadian National Railway Co PUT CALL + SHARES Industrials	Added	198,135	+131,700	$23,625,617	+246.0%	2	$103.14	3.64%
TRP	Tc Energy Corp PUT CALL + SHARES Energy	Reduced	254,367	-96,833	$16,861,988	−23.3%	1	$66.12	2.60%
NWAX	New America Acquisition I Corp. Financial Services	NEW	1,475,000	NEW	$14,971,250	NEW	1	$10.10	2.31%
CNQ	CANADIAN NATURAL RESOURCES Ltd PUT CALL + SHARES Energy	Added	343,435	+133,435	$13,565,682	+32.6%	1	$45.46	2.09%
BHF	Brighthouse Financial, Inc. PUT + SHARES Financial Services	Added	203,740	+200,000	$12,896,742	+5658.7%	2	$62.20	1.99%
BAM	Brookfield Asset Management Ltd. PUT CALL + SHARES Financial Services	NEW	258,924	NEW	$11,612,741	NEW	1	$47.21	1.79%
MCGA	Yorkville Acquisition Corp. Financial Services	Held	1,000,400	0	$10,214,084	+1.0%	4	$10.72	1.57%
SLF	Sun Life Financial Inc PUT CALL Financial Services	NEW	130,000	NEW	$10,194,600	NEW	—	—	1.57%
NTR	Nutrien Ltd. PUT CALL + SHARES Basic Materials	Reduced	160,231	-3,265,600	$10,086,541	−96.1%	2	$71.31	1.55%
SMH	VanEck Semiconductor ETF PUT	NEW	15,000	NEW	$9,838,350	NEW	—	—	1.52%
BN	BROOKFIELD Corp /ON/ PUT CALL + SHARES Financial Services	NEW	225,338	NEW	$9,597,145	NEW	1	$44.71	1.48%
IMO	Imperial Oil Ltd PUT CALL + SHARES Energy	Added	80,212	+62,412	$8,985,348	+285.9%	1	$125.29	1.38%
WBD	Warner Bros. Discovery, Inc. Communication Services	Added	330,000	+30,000	$8,797,800	+6.8%	2	$27.91	1.36%
PTHS	Pelthos Therapeutics Inc. Healthcare	Added	304,302	+7,988	$8,599,574	+38.1%	4	unpriced	1.32%
FTS	Fortis Inc. PUT CALL + SHARES Utilities	Added	136,933	+107,933	$7,836,675	+384.4%	1	$56.41	1.21%
MSOS	AdvisorShares Pure US Cannabis ETF	Added	1,249,895	+250,000	$6,349,466	+78.9%	2	$4.22	0.98%
ORMP	Oramed Pharmaceuticals Inc. Healthcare	Reduced	1,290,294	-25,000	$6,206,314	+38.8%	11	$2.31	0.96%
MRVL	Marvell Technology, Inc. Technology	NEW	20,000	NEW	$5,957,800	NEW	1	$200.51	0.92%
ENB	Enbridge Inc PUT CALL + SHARES Energy	Added	106,141	+16,141	$5,753,903	+18.1%	1	$54.84	0.89%
TTWO	Take Two Interactive Software Inc CALL Communication Services	NEW	20,000	NEW	$4,999,600	NEW	—	—	0.77%
WCN	Waste Connections, Inc. PUT CALL Industrials	NEW	28,800	NEW	$4,800,672	NEW	—	—	0.74%
B	Barrick Mining Corp PUT CALL Basic Materials	NEW	125,200	NEW	$4,598,596	NEW	—	—	0.71%
AUB	Atlantic Union Bankshares Corp Financial Services	Held	106,874	0	$4,521,838	+18.4%	6	$35.53	0.70%
WPM	Wheaton Precious Metals Corp. PUT CALL Basic Materials	NEW	40,000	NEW	$4,492,800	NEW	—	—	0.69%
BNS	Bank Of Nova Scotia PUT CALL Financial Services	Reduced	50,000	-244,600	$4,342,000	−78.7%	—	—	0.67%
TECK	Teck Resources Ltd PUT CALL Basic Materials	NEW	70,000	NEW	$4,162,200	NEW	—	—	0.64%
TRLV	Trulieve Cannabis Corp. Healthcare	NEW	355,200	NEW	$3,491,616	NEW	1	$8.60	0.54%
PCG	PG&E Corp CALL Utilities	Added	200,000	+50,000	$3,364,000	+27.6%	—	—	0.52%
SKM	Sk Telecom Co Ltd Communication Services	NEW	100,000	NEW	$3,216,000	NEW	1	$37.00	0.50%
MFC	Manulife Financial Corp PUT CALL Financial Services	NEW	76,000	NEW	$3,078,760	NEW	—	—	0.47%
CVE	Cenovus Energy Inc. PUT CALL Energy	NEW	109,600	NEW	$2,719,176	NEW	—	—	0.42%
ECHO	EchoStar CORP CALL Communication Services	Held	25,000	0	$2,537,500	−13.3%	—	—	0.39%
RCI	Rogers Communications Inc CALL Communication Services	NEW	65,000	NEW	$2,112,500	NEW	—	—	0.33%
NKE	NIKE, Inc. CALL Consumer Cyclical	NEW	50,000	NEW	$2,052,500	NEW	—	—	0.32%
BRUN	Boost Run Inc. Technology	NEW	52,000	NEW	$2,018,120	NEW	1	$23.90	0.31%
		Held	21,844	0	$2,001,784	0.0%	2	$91.51	0.31%
PPL	PPL Corp PUT CALL Utilities	NEW	50,000	NEW	$1,817,500	NEW	—	—	0.28%
TDAY	USA TODAY Co., Inc. Communication Services	Reduced	200,000	-120,000	$1,710,000	−24.2%	9	$3.52	0.26%
AEM	Agnico Eagle Mines Ltd PUT CALL Basic Materials	NEW	10,000	NEW	$1,551,300	NEW	—	—	0.24%
PBA	Pembina Pipeline Corp Energy	NEW	25,038	NEW	$1,158,007	NEW	1	$46.29	0.18%
SHOP	Shopify Inc. CALL Technology	NEW	10,000	NEW	$1,141,800	NEW	—	—	0.18%
CAE	Cae Inc PUT CALL + SHARES Industrials	NEW	45,021	NEW	$1,128,226	NEW	1	$25.89	0.17%
BIP	Brookfield Infrastructure Partners L.P. CALL Utilities	NEW	25,000	NEW	$912,250	NEW	—	—	0.14%

Showing the top 50 of 77 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.