Murchinson Ltd.

CIK

1838556

Location

TORONTO, A6

Portfolio Value

Small $770,023,331

Diversification

Moderately concentrated

Filing Date

Global Rank

#2,063 / 8,586 ▲ 367

Top Industry

Agricultural Inputs 33.6%

3Y Alpha vs SPY

-1.9%

Period ended 3 months ago

Filed May 15, 2026 · 32d

20 quarters · since Jun 2021

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

+70.0%

SPY

+78.1%

Annualised alpha

-1.9%

Max drawdown

−28.7%

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

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

Top Position

33.6%

+5.9 pts

Top 5

68.4%

+6.9 pts

Top 10

83.2%

+5.5 pts

HHI

1,557

Moderately concentrated+403

Portfolio Trend

20 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	34.8%	$267,866,020	16
Basic Materials	33.8%	$259,944,873	3
Energy	15.0%	$115,441,138	8
Technology	6.4%	$49,097,981	11
Industrials	5.5%	$42,247,231	7
Communication Services	1.8%	$13,659,646	4
Healthcare	1.6%	$12,328,028	9
Utilities	0.6%	$4,703,740	4
Consumer Defensive	0.4%	$2,805,450	2
Unclassified	0.1%	$1,022,100	1
Consumer Cyclical	0.1%	$473,335	2
Real Estate	0.1%	$433,789	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

9 positions

Ticker	Company	Δ Shares	Shares	Value
NTR	Nutrien Ltd.	+2,478,231	3,425,831	$258,513,207
RY	Royal Bank Of Canada	+626,792	742,392	$120,104,177
TD	Toronto Dominion Bank	+330,000	510,000	$47,588,100
SOBO	South Bow Corp	+257,700	1,725,100	$57,480,332
BMO	Bank Of Montreal /Can/	+221,699	320,046	$43,315,025
CM	Canadian Imperial Bank Of Commerce /Can/	+207,800	213,200	$20,200,700
PTHS	Pelthos Therapeutics Inc.	+6,835	296,314	$6,225,557
LNSR	LENSAR, Inc.	+5,450	36,560	$217,897
ENB	Enbridge Inc	+4,856	90,000	$4,872,600
No positions match the current search.

Trimmed

Positions the filer reduced

4 positions

Ticker	Company	Δ Shares	Shares	Value
TRP	Tc Energy Corp	−2,616,868	351,200	$21,985,120
SUNC	SunocoCorp LLC	−259,241	58,527	$3,608,189
TDAY	USA TODAY Co., Inc.	−100,000	320,000	$2,256,000
ORMP	Oramed Pharmaceuticals Inc.	−24,953	1,315,294	$4,471,999
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
GTLS	Chart Industries Inc	120,539	$24,921,438
BNS	Bank Of Nova Scotia	294,600	$20,418,726
SU	Suncor Energy Inc	225,600	$14,914,416
CNQ	Canadian Natural Resources Ltd	210,000	$10,233,300
CP	Canadian Pacific Kansas City Ltd/Cn	115,400	$9,077,364
WBD	Warner Bros. Discovery, Inc.	300,000	$8,238,000
CNI	Canadian National Railway Co	66,435	$6,827,524
NN	Nextnav Inc.	200,000	$3,204,000
FSLR	First Solar, Inc.	15,000	$2,958,900
SATS	EchoStar CORP	25,000	$2,926,750
PCG	PG&E Corp	150,000	$2,635,500
IMO	Imperial Oil Ltd	17,800	$2,328,596
FTS	Fortis Inc.	29,000	$1,617,910
SLV	iShares Silver Trust	15,000	$1,022,100
ATKR	Atkore Inc.	15,000	$883,650
FNV	FRANCO NEVADA Corp	3,164	$781,666
ODV	Osisko Development Corp.	200,000	$650,000
IMXI	International Money Express, Inc.	21,700	$342,860
IXHL	Incannex Healthcare Inc.	104,113	$312,339
JHG	Janus Henderson Group PLC	5,000	$256,850
EHAB	Enhabit, Inc.	17,700	$249,393
BLFY	Blue Foundry Bancorp	18,800	$248,912
DBRG	DigitalBridge Group, Inc.	16,000	$246,720
PRA	Proassurance Corp	9,900	$244,728
CSGS	Csg Systems International Inc	3,060	$244,616
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
WOLF	Wolfspeed, Inc.	3,884,353	$67,626,585
SPY	Spdr S&P 500 ETF Trust	50,000	$34,096,000
MSTR	Strategy Inc	100,000	$15,195,000
RKT	Rocket Companies, Inc.	600,015	$11,616,290
BARK	Bark, Inc.	490,043	$5,909,918
MRNA	Moderna, Inc.	200,000	$5,898,000
PYPL	PayPal Holdings, Inc.	100,000	$5,838,000
AEM	Agnico Eagle Mines Ltd	30,000	$5,085,900
NFLX	Netflix Inc	50,000	$4,688,000
FLR	Fluor Corp	100,000	$3,963,000
B	Barrick Mining Corp	86,400	$3,762,720
PFE	Pfizer Inc	150,000	$3,735,000
GIL	Gildan Activewear Inc.	51,012	$3,186,209
ABUS	Arbutus Biopharma Corp	497,900	$2,394,899
RICK	Rci Hospitality Holdings, Inc.	100,000	$2,384,000
TASK	TaskUs, Inc.	168,798	$1,990,128
BCE	Bce Inc	75,000	$1,786,500
RVPH	Reviva Pharmaceuticals Holdings, Inc.	250,000	$1,400,000
NGD	New Gold Inc. /FI	100,000	$871,000
BYND	Beyond Meat, Inc.	432,301	$354,486
SPIR	Spire Global, Inc.	40,008	$300,060
CWH	Camping World Holdings, Inc.	30,000	$291,900
APRE	Aprea Therapeutics, Inc.	340,139	$290,138
TVA	Texas Ventures Acquisition III Corp	25,000	$266,250
RPT	Rithm Property Trust Inc.	11,981	$198,644
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

69 positions · $770,023,331 total · as of Mar 31, 2026

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

Showing 1–50 of 69 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
NTR	Nutrien Ltd. Basic Materials	Added	3,425,831	+2,478,231	$258,513,207	+342.0%	33.57%
RY	Royal Bank Of Canada Financial Services	Added	742,392	+626,792	$120,104,177	+509.4%	15.60%
SOBO	South Bow Corp Energy	Added	1,725,100	+257,700	$57,480,332	+42.6%	7.46%
TD	Toronto Dominion Bank Financial Services	Added	510,000	+330,000	$47,588,100	+180.7%	6.18%
BMO	Bank Of Montreal /Can/ Financial Services	Added	320,046	+221,699	$43,315,025	+239.3%	5.63%
NNDM	Nano Dimension Ltd. Technology	Held	15,550,000	0	$26,435,000	+10.4%	3.43%
GTLS	Chart Industries Inc Industrials	NEW	120,539	NEW	$24,921,438	NEW	3.24%
TRP	Tc Energy Corp Energy	Reduced	351,200	-2,616,868	$21,985,120	−86.5%	2.86%
BNS	Bank Of Nova Scotia Financial Services	NEW	294,600	NEW	$20,418,726	NEW	2.65%
CM	Canadian Imperial Bank Of Commerce /Can/ Financial Services	Added	213,200	+207,800	$20,200,700	+4028.5%	2.62%
SU	Suncor Energy Inc Energy	NEW	225,600	NEW	$14,914,416	NEW	1.94%
ORCL	Oracle Corp Technology	Held	100,000	0	$14,711,000	−24.5%	1.91%
CNQ	Canadian Natural Resources Ltd Energy	NEW	210,000	NEW	$10,233,300	NEW	1.33%
MCGA	Yorkville Acquisition Corp. Financial Services	Held	1,000,400	0	$10,114,044	−0.2%	1.31%
CP	Canadian Pacific Kansas City Ltd/Cn Industrials	NEW	115,400	NEW	$9,077,364	NEW	1.18%
WBD	Warner Bros. Discovery, Inc. Communication Services	NEW	300,000	NEW	$8,238,000	NEW	1.07%
CNI	Canadian National Railway Co Industrials	NEW	66,435	NEW	$6,827,524	NEW	0.89%
PTHS	Pelthos Therapeutics Inc. Healthcare	Added	296,314	+6,835	$6,225,557	−30.6%	0.81%
ENB	Enbridge Inc Energy	Added	90,000	+4,856	$4,872,600	+19.6%	0.63%
ORMP	Oramed Pharmaceuticals Inc. Healthcare	Reduced	1,315,294	-24,953	$4,471,999	+17.1%	0.58%
AUB	Atlantic Union Bankshares Corp Financial Services	Held	106,874	0	$3,819,676	+1.2%	0.50%
SUNC	SunocoCorp LLC Energy	Reduced	58,527	-259,241	$3,608,189	−77.0%	0.47%
NN	Nextnav Inc. Technology	NEW	200,000	NEW	$3,204,000	NEW	0.42%
FSLR	First Solar, Inc. Technology	NEW	15,000	NEW	$2,958,900	NEW	0.38%
SATS	EchoStar CORP Communication Services	NEW	25,000	NEW	$2,926,750	NEW	0.38%
PCG	PG&E Corp Utilities	NEW	150,000	NEW	$2,635,500	NEW	0.34%
KVUE	Kenvue Inc. Consumer Defensive	Held	150,000	0	$2,586,000	−0.1%	0.34%
IMO	Imperial Oil Ltd Energy	NEW	17,800	NEW	$2,328,596	NEW	0.30%
TDAY	USA TODAY Co., Inc. Communication Services	Reduced	320,000	-100,000	$2,256,000	+4.3%	0.29%
FTS	Fortis Inc. Utilities	NEW	29,000	NEW	$1,617,910	NEW	0.21%
SLV	iShares Silver Trust	NEW	15,000	NEW	$1,022,100	NEW	0.13%
ATKR	Atkore Inc. Industrials	NEW	15,000	NEW	$883,650	NEW	0.11%
FNV	FRANCO NEVADA Corp Basic Materials	NEW	3,164	NEW	$781,666	NEW	0.10%
ODV	Osisko Development Corp. Basic Materials	NEW	200,000	NEW	$650,000	NEW	0.08%
NWBI	Northwest Bancshares, Inc. Financial Services	Held	30,000	0	$380,700	+5.8%	0.05%
IMXI	International Money Express, Inc. Technology	NEW	21,700	NEW	$342,860	NEW	0.04%
IXHL	Incannex Healthcare Inc. Healthcare	NEW	104,113	NEW	$312,339	NEW	0.04%
JHG	Janus Henderson Group PLC Financial Services	NEW	5,000	NEW	$256,850	NEW	0.03%
EHAB	Enhabit, Inc. Healthcare	NEW	17,700	NEW	$249,393	NEW	0.03%
BLFY	Blue Foundry Bancorp Financial Services	NEW	18,800	NEW	$248,912	NEW	0.03%
DBRG	DigitalBridge Group, Inc. Financial Services	NEW	16,000	NEW	$246,720	NEW	0.03%
PRA	Proassurance Corp Financial Services	NEW	9,900	NEW	$244,728	NEW	0.03%
CSGS	Csg Systems International Inc Technology	NEW	3,060	NEW	$244,616	NEW	0.03%
ONTF	ON24 INC. Technology	NEW	30,100	NEW	$243,810	NEW	0.03%
OS	OneStream, Inc. Technology	NEW	10,100	NEW	$242,400	NEW	0.03%
FOLD	AMICUS THERAPEUTICS, INC. Healthcare	NEW	16,700	NEW	$241,482	NEW	0.03%
GLDD	Great Lakes Dredge & Dock CORP Industrials	NEW	14,200	NEW	$241,400	NEW	0.03%
DHIL	DIAMOND HILL INVESTMENT GROUP INC Financial Services	NEW	1,400	NEW	$240,940	NEW	0.03%
AL	SUMISHO AIR LEASE CORP Industrials	NEW	3,700	NEW	$240,278	NEW	0.03%
SEMR	SEMrush Holdings, Inc. Technology	NEW	20,100	NEW	$239,994	NEW	0.03%