PICTON MAHONEY ASSET MANAGEMENT
Institutional investor · Portfolio as of Q1 2026
Top Holdings1,238 positions
Stock | Shares | Value | Weight | Avg Buy | Est. P&L | Held | Conviction |
|---|---|---|---|---|---|---|---|
ISHR IBX USD HIYLD CB ETF-UI | 17.8M | $1.4B | 10.5% | — | — | — | Increased — |
ISHARES IBOXX INVESTMENT GRA | 5M | $545M | 4.0% | — | — | — | Unchanged — |
ROYAL BANK OF CANADA | 2.7M | $429.2M | 3.2% | $130.32 | +22.56% | 4 qtrssince 2025-Q2 | Increased 57 |
ISHR IBX USD HIYLD CB ETF-UI | 5M | $397.8M | 2.9% | — | — | — | Decreased — |
TORONTO-DOMINION BANK | 3.7M | $350M | 2.6% | $75.14 | +30.05% | 4 qtrssince 2025-Q2 | Increased 59 |
ISHARES IBOXX INVESTMENT GRA | 2.5M | $272.5M | 2.0% | — | — | — | Decreased — |
CANADIAN NATURAL RESOURCES | 5.4M | $262.5M | 1.9% | $33.13 | +33.19% | 4 qtrssince 2025-Q2 | Increased 56 |
SHOPIFY INC - CLASS A | 2.1M | $253.5M | 1.9% | $119.16 | +2.27% | 5 qtrssince 2025-Q1 | Increased 54 |
AGNICO EAGLE MINES LTD | 968,916 | $196.7M | 1.5% | $140.30 | +67.15% | 4 qtrssince 2025-Q2 | Increased 59 |
CANADIAN PACIFIC RAILWAY LTD /CAD/ | 2.5M | $195.2M | 1.4% | $78.50 | -0.02% | 4 qtrssince 2025-Q2 | Increased 53 |
SUNCOR ENERGY INC | 2.9M | $190.2M | 1.4% | $52.16 | +9.55% | 4 qtrssince 2025-Q2 | Increased 78 |
FRANCO-NEVADA CORP /CAD/ | 759,289 | $188.1M | 1.4% | $188.35 | +39.32% | 4 qtrssince 2025-Q2 | Increased 57 |
ISHARES 20 PLUS YEAR TREASURY BD | 2M | $173.4M | 1.3% | — | — | — | New — |
NVIDIA CORP | 889,790 | $155.2M | 1.1% | $133.90 | +34.47% | 25 qtrssince 2020-Q1 | Increased 53 |
ENBRIDGE INC | 2.8M | $150.7M | 1.1% | $44.57 | +21.90% | 4 qtrssince 2025-Q2 | Increased 50 |
BROOKFIELD CORP /CAD/ | 3.7M | $148.2M | 1.1% | $42.90 | +0.23% | 4 qtrssince 2025-Q2 | Increased 48 |
ISHARES MSCI EMERGING MARKETS INDEX FUND | 2.4M | $136.3M | 1.0% | — | — | — | New — |
TC ENERGY CORP | 2.1M | $129.1M | 1.0% | $48.40 | +33.87% | 4 qtrssince 2025-Q2 | Increased 43 |
CENOVUS ENERGY INC | 4.9M | $128.8M | 1.0% | $14.32 | +56.17% | 4 qtrssince 2025-Q2 | Decreased 0 |
OR ROYALTIES INC. | 3.3M | $127.2M | 0.9% | $26.18 | +68.44% | 4 qtrssince 2025-Q2 | Increased 45 |
PICTON MAHONEY ASSET MANAGEMENT manages $13.5B across 1238 positions as of Q1 2026. Top holdings: HYG (10.5%), LQD (4.0%), RY (3.2%). Fund DNA: Diversified Scout. HoldingsIntel Rating: 3.5/5.0.
Active quarter - 244 new positions, 241 exits, 341 increased. Top move: SU (INCREASED, conviction 78). Portfolio: $13.5B across 1238 positions.
Top holdings by portfolio weight
Portfolio allocation by GICS sector
Behavioral investing profile
Position Outcomes
Best and worst performing positions by estimated return
Top Winners
Top Losers
Cost basis estimates based on full filing history using quarter-end prices. Actual transaction prices are not disclosed in 13F filings.
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Data sourced from SEC EDGAR 13F filings. Not financial advice. Full disclaimer