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PICTON MAHONEY ASSET MANAGEMENT

Q3 2025 · Filed 2025-11-12
Market Value
$7.2B
+12.9%
Holdings
1,037
+8
New Purchases
232
Added To
196
Closed
160
Reduced
182
Top 10 Concentration
27.2%
Turnover
37.8%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
VOE 0.99% 0.19% +0.80% $71M
B 0.72% 0.03% +0.69% $52M
CM 1.64% 0.97% +0.67% $118M
CYBR 1.02% 0.37% +0.65% $74M
FNV 1.83% 1.27% +0.56% $132M
SSRM 0.71% 0.19% +0.51% $51M
IAG 0.70% 0.21% +0.49% $50M
MDB 0.45% 0.01% +0.43% $32M
SHOP 3.58% 3.17% +0.40% $257M
HBM 1.34% 0.96% +0.37% $96M
GOOGL 1.12% 0.75% +0.36% $80M
VRNA 0.36% 0.00% +0.36% $26M
AAPL 1.49% 1.14% +0.35% $107M
TPG 0.34% 0.00% +0.34% $24M
NSC 0.33% 0.00% +0.33% $24M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
SLF 0.00% 1.38% -1.38% $0
WCN 1.32% 2.21% -0.89% $95M
TECK 0.68% 1.31% -0.62% $49M
TD 3.62% 4.20% -0.58% $260M
DNB 0.00% 0.55% -0.55% $0
BMO 0.74% 1.24% -0.51% $53M
AZEK 0.00% 0.50% -0.50% $0
SKX 0.00% 0.48% -0.48% $0
LPLA 0.01% 0.48% -0.47% $732K
MET 0.00% 0.44% -0.44% $0
EWG 0.00% 0.42% -0.42% $0
WFC 0.07% 0.48% -0.41% $5M
HES 0.00% 0.40% -0.40% $0
TWLO 0.00% 0.38% -0.38% $2K
BPMC 0.00% 0.34% -0.34% $0

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 43 $1.4B 19.0%
Large Cap 388 $4.2B 58.2%
Mid Cap 378 $1.2B 17.1%
Small Cap 171 $297M 4.1%
Micro Cap 57 $113M 1.6%

Portfolio Analytics

Avg Market Cap
$60.4B
Median Market Cap
$6.9B
Avg P/E
33.2
Median P/E
21.9
Avg Dividend Yield
0.02%
Avg Beta
1.00
# Stocks
988
# ETFs / Funds
49

Top Holdings (1,037 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 RY 5.28% 2,577,593 $380M $147.36 $50M +63,717 +2.5%
2 TD 3.62% 3,252,129 $260M $79.94 -$7M -399,067 -10.9%
3 SHOP 3.58% 1,731,048 $257M $148.54 $55M -28,669 -1.6%
4 BN 2.51% 2,629,023 $180M $68.60 $40M +348,824 +15.3%
5 AEM 2.38% 1,017,406 $171M $168.39 $37M -112,344 -9.9%
6 CNQ 2.30% 5,170,054 $165M $31.97 $3M -23,446 -0.5%
7 MSFT 1.92% 266,830 $138M $517.95 $11M +10,261 +4.0%
8 NVDA 1.91% 736,703 $137M $186.58 $4M -106,904 -12.7%
9 ENB 1.90% 2,704,498 $136M $50.44 $4M -220,497 -7.5%
10 FNV 1.83% 591,206 $132M $222.54 $51M +98,171 +19.9%
11 OR 1.73% 3,109,636 $125M $40.07 $28M -664,674 -17.6%
12 CM 1.64% 1,477,258 $118M $79.89 $56M +603,540 +69.1%
13 TRP 1.54% 2,037,010 $111M $54.36 $10M -27,825 -1.4%
14 CVE 1.51% 6,389,703 $108M $16.98 $34M +863,647 +15.6%
15 AAPL 1.49% 420,307 $107M $254.63 $35M +67,308 +19.1%
16 HBM 1.34% 6,350,482 $96M $15.14 $35M +537,964 +9.3%
17 WCN 1.32% 540,326 $95M $175.77 -$46M -217,174 -28.7%
18 RCI 1.28% 2,673,625 $92M $34.42 $13M +9,176 +0.3%
19 CLS 1.22% 357,341 $88M $246.03 -$3M -223,748 -38.5%
20 GOOGL 1.12% 330,696 $80M $243.10 $32M +58,161 +21.3%
21 CYBR 1.02% 152,257 $74M $483.14 $50M +94,102 +161.8%
22 VOE 0.99% 406,324 $71M $174.58 $59M +334,159 +463.1%
23 AVGO 0.91% 198,249 $65M $329.90 $9M -7,797 -3.8%
24 FSV 0.88% 331,730 $63M $190.49 $7M +9,359 +2.9%
25 GIL 0.84% 1,043,362 $60M $57.76 -$5M -289,433 -21.7%
26 BIP 0.81% 1,768,734 $58M $32.95 $12M +384,072 +27.7%
27 CIGI 0.76% 349,231 $55M $156.36 $19M +76,645 +28.1%
28 AMZN 0.74% 242,851 $53M $219.57 -$583K -2,857 -1.2%
29 BMO 0.74% 405,969 $53M $130.28 -$26M -310,912 -43.4%
30 B 0.72% 1,577,359 $52M $32.84 $50M +1,488,438 +1673.9%
31 WPM 0.72% 461,195 $52M $111.88 $9M -18,371 -3.8%
32 SSRM 0.71% 2,081,864 $51M $24.41 $39M +1,115,375 +115.4%
33 META 0.70% 68,595 $50M $734.40 -$1M -1,257 -1.8%
34 IAG 0.70% 3,893,422 $50M $12.92 $37M +2,103,636 +117.5%
35 TECK 0.68% 1,122,452 $49M $43.86 -$34M -946,157 -45.7%
36 MFC 0.65% 1,507,847 $47M $31.15 -$16M -478,578 -24.1%
37 TU 0.63% 2,893,312 $46M $15.75 -$6M -300,675 -9.4%
38 DSGX 0.58% 444,774 $42M $94.14 -$7M -33,370 -7.0%
39 CCJ 0.53% 457,311 $38M $83.91 -$13M -241,151 -34.5%
40 KRE 0.52% 590,874 $37M $63.30 $25M +380,089 +180.3%
41 SCHW 0.50% 377,885 $36M $95.47 $2M +6,266 +1.7%
42 BAC 0.50% 694,393 $36M $51.59 $5M +32,961 +5.0%
43 COF 0.49% 165,686 $35M $212.57 $10M +48,243 +41.1%
44 K 0.49% 427,928 $35M $82.02 -$1M -30,000 -6.5%
45 BSX 0.46% 340,103 $33M $97.63 -$2M +7,734 +2.3%
46 RKT 0.46% 1,694,838 $33M $19.38 $14M +362,801 +27.2%
47 GTLS 0.45% 160,323 $32M $200.15 $24M +111,812 +230.5%
48 MDB 0.45% 103,255 $32M $310.38 $31M +99,523 +2666.8%
49 KKR 0.44% 243,062 $32M $129.95 $2M +17,400 +7.7%
50 FYBR 0.42% 811,768 $30M $37.35 $3M +50,000 +6.6%
51 URI 0.40% 30,445 $29M $954.71 $9M +3,581 +13.3%
52 HWM 0.40% 146,977 $29M $196.22 -$4M -31,943 -17.9%
53 SPOT 0.40% 40,796 $28M $698.01 -$4M -1,082 -2.6%
54 MS 0.39% 175,441 $28M $158.95 $3M -187 -0.1%
55 BEP 0.38% 1,070,639 $28M $25.77 $14M +523,263 +95.6%
56 WMT 0.38% 265,263 $27M $103.06 $4M +29,774 +12.6%
57 CDE 0.37% 1,413,982 $27M $18.76 $16M +255,787 +22.1%
58 PWR 0.37% 63,775 $26M $414.43 -$2M -12,110 -16.0%
59 SU 0.37% 627,313 $26M $41.84 $21M +476,077 +314.8%
60 VRNA 0.36% 245,000 $26M $106.71 +245,000 NEW
61 TJX 0.36% 177,443 $26M $144.54 $2M -15,509 -8.0%
62 ABBV 0.35% 108,567 $25M $231.54 $11M +31,753 +41.3%
63 BA 0.35% 115,683 $25M $215.83 $8M +34,152 +41.9%
64 TPG 0.34% 423,584 $24M $57.45 +423,584 NEW
65 SPLV 0.34% 328,793 $24M $73.48 $24M +325,353 +9457.9%
66 NSC 0.33% 80,000 $24M $300.41 +80,000 NEW
67 DASH 0.32% 84,503 $23M $272.00 -$6M -33,688 -28.5%
68 SII 0.32% 275,478 $23M $83.11 $10M +86,525 +45.8%
69 BBU 0.32% 696,679 $23M $32.80 $12M +297,180 +74.4%
70 TSM 0.32% 81,449 $23M $279.29 -$572K -21,511 -20.9%
71 SNOW 0.31% 100,052 $23M $225.54 $1M +4,135 +4.3%
72 MLI 0.31% 223,048 $23M $101.10 $6M +18,572 +9.1%
73 LLY 0.31% 29,253 $22M $763.00 -$12M -14,470 -33.1%
74 NET 0.30% 101,509 $22M $214.58 -$4M -27,886 -21.6%
75 DHI 0.30% 127,386 $22M $169.45 $9M +30,546 +31.5%
76 RBC 0.30% 54,989 $21M $390.30 -$1M -4,078 -6.9%
77 RGA 0.29% 109,674 $21M $192.15 -$14M -68,136 -38.3%
78 AVDX 0.29% 2,100,000 $21M $9.95 $9M +850,000 +68.0%
79 JPM 0.29% 65,945 $21M $315.41 $426K -4,333 -6.2%
80 KO 0.28% 308,916 $20M $66.32 $6M +99,224 +47.3%
81 PFGC 0.28% 194,830 $20M $104.04 $7M +48,508 +33.1%
82 NFLX 0.28% 16,838 $20M $1,198.84 -$5M -1,879 -10.0%
83 HD 0.28% 49,700 $20M $405.17 $2M -524 -1.0%
84 CGCT 0.28% 2,000,000 $20M $10.05 +2,000,000 NEW
85 PPL 0.28% 539,985 $20M $37.16 $137K -48,101 -8.2%
86 IBM 0.28% 70,616 $20M $282.17 $20M +70,611 +1412220.0%
87 ICE 0.28% 118,174 $20M $168.46 $5M +39,164 +49.6%
88 CLH 0.28% 85,480 $20M $232.24 -$72K -706 -0.8%
89 AON 0.28% 55,589 $20M $356.58 $979K +2,776 +5.3%
90 APO 0.28% 148,713 $20M $133.28 -$2M -4,270 -2.8%
91 RDNT 0.27% 258,120 $20M $76.21 $5M -4,829 -1.8%
92 VTR 0.27% 280,965 $20M $69.98 $1M -10,525 -3.6%
93 DOOO 0.27% 323,147 $20M $60.79 +323,147 NEW
94 XPO 0.27% 151,785 $20M $129.27 $12M +92,311 +155.2%
95 ADI 0.27% 77,893 $19M $245.68 $5M +19,981 +34.5%
96 ISRG 0.26% 42,101 $19M $447.23 -$6M -4,011 -8.7%
97 MA 0.26% 32,640 $19M $568.78 -$3M -4,863 -13.0%
98 FAST 0.25% 363,547 $18M $49.04 $2M -2,911 -0.8%
99 ORCL 0.24% 62,570 $18M $281.24 $3M -4,360 -6.5%
100 DIS 0.24% 150,613 $17M $114.49 -$2M -661 -0.4%

New Positions

SymbolValue% Port
VRNA $26M 0.36%
TPG $24M 0.34%
NSC $24M 0.33%
CGCT $20M 0.28%
DOOO $20M 0.27%
TMO $17M 0.24%
GFI $16M 0.22%
SF $16M 0.22%
C $14M 0.20%
LBRDK $14M 0.20%
TGNA $14M 0.20%
BNS $14M 0.19%
AL $13M 0.18%
ERO $13M 0.18%
SAND $12M 0.17%

Sold Out Positions

SymbolValue% Port
NVT —%
APAM —%
ATEN —%
ARW —%
DECK —%
MC —%
HLI —%
UI —%
ALG —%
TPB —%
GMED —%
SE —%
ANET —%
BJ —%
RVLV —%
View SEC EDGAR Filings for PICTON MAHONEY ASSET MANAGEMENT →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms