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PICTON MAHONEY ASSET MANAGEMENT — 13F Holdings & Portfolio

CIK 1539041 · latest 13F-HR filed 2026-08-13

Backtest portfolio

PICTON MAHONEY ASSET MANAGEMENT manages $13.52B in 13F-reported U.S. long-equity assets across 1,378 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are RY (5.06%), TD (4.11%), HYG (2.96%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 493 new positions and exited 346; 417 existing positions rose in reported value and 241 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

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AUM
$13.52B

Long-equity book

Holdings
1,378

Distinct positions

Period
2026-06-30

Filed 2026-08-13

Q/Q Activity
+493 / −346 / ↑417 / ↓241

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26
RY6.3% · +25%TD5.1% · +22%SHOP2.3% · +1%CP2.3% · +14%BN1.9% · +30%ENB1.7% · +21%NVDA1.6% · -5%CNQ1.6% · -21%BMO1.5% · +297%FNV1.5% · +5%SU1.5% · +6%SLF1.5% · +50%AEM1.4% · +1%CVE1.4% · +23%TRP1.3% · +4%GOOGL1.2% · -15%CLS1.0% · -9%WPM1.0% · +20%AAPL1.0% · -12%RSP1.0% · +28%TECK0.9% · +28%HBM0.9% · +10%OR0.9% · -8%B0.9% · -5%WCN0.9% · +30%SPLV0.9% · +32%RCI0.8% · -6%AMZN0.8% · +0%IAG0.7% · +5%BEP0.7% · +18%MSFT0.7% · -2%CCJ0.6% · +5%BNS0.6% · +1785%AMD0.6% · +3%GIL0.6% · +21%JPM0.6% · +46%DSGX0.5% · +49%MU0.5% · +17%PAAS0.5% · +49%MGA0.5% · -18%BIP0.5% · +17%AVGO0.4% · -34%FSV0.4% · +35%INTC0.4% · +3%TSM0.4% · -8%BGSI0.4% · -17%LLY0.4% · +2%SNOW0.4% · +43%EA0.4% · -7%RBC0.3% · -3%C0.3% · +58%ALHC0.3% · +134%MS0.3% · -10%PANW0.3% · -1%LRCX0.3% · -5%FSM0.3% · +75%RKT0.3% · +36%BA0.3% · +22%ROKU0.3% · +132%WBS0.3% · +62%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

4 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 25.7%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Jan 26, 2017.

Assets Under Management
$5.61B
Discretionary
$5.61B
Employees
77
Accounts
36
Address
33 YONGE STREET
SUITE 830
TORONTO, ONTARIO M5E 1G4
Canada
Phone
(416) 955-4108
Website
Name Title / Status Ownership Type
2510232 ONTARIO INC. ControlLIMITED PARTNER
since Apr 2016
5–10%Foreign Entity
GALLOWAY, ARTHUR, FREDRICK ControlCHIEF FINANCIAL OFFICER, CHIEF OPERATING OFFICER, EXECUTIVE COMMITTEE MEMBER
since Apr 2005
Less than 5%Individual
MA, ANDREW, MAN HO ControlCHIEF COMPLIANCE OFFICER
since Sep 2015
Less than 5%Individual
PICTON PARTNER CORPORATION ControlLIMITED PARTNER
since Aug 2004
25–50%Foreign Entity
PICTON, DAVID, KERRY ControlCHIEF EXECUTIVE OFFICER, EXECUTIVE COMMITTEE MEMBER
since Aug 2004
Less than 5%Individual
WHISTLER CAPITAL PARTNERS INC.LIMITED PARTNER
since Aug 2007
10–25%Foreign Entity
PICTON, DAVID, KERRY Control
Indirect owner via THE 2004 PICTON FAMILY TRUST
TRUSTEE
since Aug 2004
General partner, trustee or managerIndividual
PICTON, DAVID, KERRY Control
Indirect owner via PICTON PARTNER CORPORATION
PRESIDENT, SHAREHOLDER
since Aug 2004
25–50%Individual
PICTON, DAVID, KERRY Control
Indirect owner via 2510232 ONTARIO INC.
PRESIDENT, SHAREHOLDER
since Apr 2016
75% or moreIndividual
PICTON, STEPHANIE, LIISE Control
Indirect owner via THE 2004 PICTON FAMILY TRUST
TRUSTEE
since Aug 2004
General partner, trustee or managerIndividual
SHEPARD, DEAN, BRADFORD Control
Indirect owner via WHISTLER CAPITAL PARTNERS INC.
SHAREHOLDER
since Aug 2007
75% or moreIndividual
THE 2004 PICTON FAMILY TRUST Control
Indirect owner via PICTON PARTNER CORPORATION
SHAREHOLDER
since Aug 2004
75% or moreForeign Entity
Ownership & leadership changes · 4 filings with changes since Dec 15, 2014

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Jan 26, 2017 filing
  • No longer listedMAHONEY PARTNER CORPORATION · LIMITED PARTNER · 5–10% · listed since Aug 2004
  • No longer listedMAHONEY, LISE, MARIE · TRUSTEE · General partner, trustee or manager · indirect via THE 2004 MAHONEY FAMILY TRUST · control person · listed since Aug 2004
  • No longer listedMAHONEY, MICHAEL, JOSEPH · TRUSTEE · General partner, trustee or manager · indirect via THE 2004 MAHONEY FAMILY TRUST · control person · listed since Aug 2004
  • No longer listedMAHONEY, MICHAEL, JOSEPH · TRUSTEE · General partner, trustee or manager · indirect via THE 2004 PICTON FAMILY TRUST · control person · listed since Aug 2004
  • No longer listedMAHONEY, MICHAEL, JOSEPH · EXECUTIVE COMMITTEE MEMBER · Less than 5% · control person · listed since Aug 2004
  • No longer listedMAHONEY, MICHAEL, JOSEPH · PRESIDENT, SHAREHOLDER · 25–50% · indirect via MAHONEY PARTNER CORPORATION · control person · listed since Aug 2004
  • No longer listedPICTON, DAVID, KERRY · TRUSTEE · General partner, trustee or manager · indirect via THE 2004 MAHONEY FAMILY TRUST · control person · listed since Aug 2004
  • No longer listedTHE 2004 MAHONEY FAMILY TRUST · SHAREHOLDER · 75% or more · indirect via MAHONEY PARTNER CORPORATION · control person · listed since Aug 2004
  • Added2510232 ONTARIO INC. · LIMITED PARTNER · 5–10% · control person
  • AddedPICTON, DAVID, KERRY · PRESIDENT, SHAREHOLDER · 75% or more · indirect via 2510232 ONTARIO INC. · control person
Sep 2, 2015 filing
  • AddedMA, ANDREW, MAN HO · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
  • ChangedGALLOWAY, ARTHUR, FREDRICK · title CHIEF FINANCIAL OFFICER, CHIEF OPERATING OFFICER, CHIEF COMPLIANCE OFFICER, EXECUTIVE COMMITTEE MEMBER → CHIEF FINANCIAL OFFICER, CHIEF OPERATING OFFICER, EXECUTIVE COMMITTEE MEMBER
Jan 9, 2015 filing
  • ChangedMAHONEY, MICHAEL, JOSEPH · ownership 50–75% → Less than 5%
  • ChangedPICTON, DAVID, KERRY · ownership 50–75% → Less than 5%
Jan 8, 2015 filing
  • AddedMAHONEY, LISE, MARIE · TRUSTEE · General partner, trustee or manager · indirect via THE 2004 MAHONEY FAMILY TRUST · control person
  • AddedMAHONEY, MICHAEL, JOSEPH · TRUSTEE · General partner, trustee or manager · indirect via THE 2004 PICTON FAMILY TRUST · control person
  • AddedMAHONEY, MICHAEL, JOSEPH · EXECUTIVE COMMITTEE MEMBER · 50–75% · control person
  • AddedMAHONEY, MICHAEL, JOSEPH · PRESIDENT, SHAREHOLDER · 25–50% · indirect via MAHONEY PARTNER CORPORATION · control person
  • AddedPICTON, DAVID, KERRY · TRUSTEE · General partner, trustee or manager · indirect via THE 2004 MAHONEY FAMILY TRUST · control person
  • AddedPICTON, DAVID, KERRY · PRESIDENT, SHAREHOLDER · 25–50% · indirect via PICTON PARTNER CORPORATION · control person
  • AddedPICTON, STEPHANIE, LIISE · TRUSTEE · General partner, trustee or manager · indirect via THE 2004 PICTON FAMILY TRUST · control person
  • ChangedGALLOWAY, ARTHUR, FREDRICK · title CHIEF FINANCIAL OFFICER, CHIEF OPERATING OFFICER, CHIEF COMPLIANCE OFFICER → CHIEF FINANCIAL OFFICER, CHIEF OPERATING OFFICER, CHIEF COMPLIANCE OFFICER, EXECUTIVE COMMITTEE MEMBER
  • ChangedMAHONEY PARTNER CORPORATION · title PARTNER → LIMITED PARTNER
  • ChangedMAHONEY, MICHAEL, JOSEPH · indirect via THE 2004 MAHONEY FAMILY TRUST: title BENEFICIARY → TRUSTEE; ownership 75% or more → General partner, trustee or manager
  • ChangedPICTON PARTNER CORPORATION · title PARTNER → LIMITED PARTNER
  • ChangedPICTON, DAVID, KERRY · indirect via THE 2004 PICTON FAMILY TRUST: title BENEFICIARY → TRUSTEE; ownership 75% or more → General partner, trustee or manager
  • ChangedPICTON, DAVID, KERRY · title CHIEF EXECUTIVE OFFICER → CHIEF EXECUTIVE OFFICER, EXECUTIVE COMMITTEE MEMBER; ownership Less than 5% → 50–75%
  • ChangedTHE 2004 MAHONEY FAMILY TRUST · indirect via MAHONEY PARTNER CORPORATION: title OWNER → SHAREHOLDER
  • ChangedTHE 2004 PICTON FAMILY TRUST · indirect via PICTON PARTNER CORPORATION: title OWNER → SHAREHOLDER
  • ChangedWHISTLER CAPITAL PARTNERS INC. · title PARTNER → LIMITED PARTNER
Dec 15, 2014 filing (earliest on record)
  • ListedGALLOWAY, ARTHUR, FREDRICK · CHIEF FINANCIAL OFFICER, CHIEF OPERATING OFFICER, CHIEF COMPLIANCE OFFICER · Less than 5% · control person
  • ListedMAHONEY PARTNER CORPORATION · PARTNER · 5–10%
  • ListedMAHONEY, MICHAEL, JOSEPH · BENEFICIARY · 75% or more · indirect via THE 2004 MAHONEY FAMILY TRUST · control person
  • ListedPICTON PARTNER CORPORATION · PARTNER · 25–50% · control person
  • ListedPICTON, DAVID, KERRY · BENEFICIARY · 75% or more · indirect via THE 2004 PICTON FAMILY TRUST · control person
  • ListedPICTON, DAVID, KERRY · CHIEF EXECUTIVE OFFICER · Less than 5% · control person
  • ListedSHEPARD, DEAN, BRADFORD · SHAREHOLDER · 75% or more · indirect via WHISTLER CAPITAL PARTNERS INC. · control person
  • ListedTHE 2004 MAHONEY FAMILY TRUST · OWNER · 75% or more · indirect via MAHONEY PARTNER CORPORATION · control person
  • ListedTHE 2004 PICTON FAMILY TRUST · OWNER · 75% or more · indirect via PICTON PARTNER CORPORATION · control person
  • ListedWHISTLER CAPITAL PARTNERS INC. · PARTNER · 10–25%

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

PICTON MAHONEY ASSET MANAGEMENT Holdings (2026-06-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 ROYAL BK CDA RY 780087102 $684.8M 5.06% 3,315,100 SH
2 TORONTO DOMINION BK ONT TD 891160509 $555.3M 4.11% 4,578,596 SH
3 ISHARES TR Put HYG 464288513 $399.9M 2.96% 5,000,000 SH
4 ISHARES TR Call HYG 464288513 $399.9M 2.96% 5,000,000 SH
5 ISHARES TR Put MTUM 46432F396 $342.8M 2.54% 1,000,000 SH
6 SHOPIFY INC SHOP 82509L107 $246.9M 1.83% 2,163,787 SH
7 CANADIAN PACIFIC KANSAS CITY CP 13646K108 $244.7M 1.81% 2,829,879 SH
8 INVESCO QQQ TR Call QQQ 46090E103 $220.9M 1.63% 300,000 SH
9 BROOKFIELD CORP BN 11271J107 $202.2M 1.50% 4,751,905 SH
10 VANECK ETF TRUST Put SMH 92189F676 $196.8M 1.46% 300,000 SH
11 ENBRIDGE INC ENB 29250N105 $182.4M 1.35% 3,371,682 SH
12 NVIDIA CORPORATION NVDA 67066G104 $169.7M 1.26% 848,217 SH
13 CANADIAN NAT RES LTD MED TER CNQ 136385101 $168.6M 1.25% 4,270,778 SH
14 BANK MONTREAL MEDIUM BMO 063671101 $166.7M 1.23% 945,606 SH
15 FRANCO NEV CORP FNV 351858105 $165.7M 1.23% 796,135 SH
16 SUNCOR ENERGY INC NEW SU 867224107 $163.7M 1.21% 3,049,813 SH
17 SUN LIFE FINANCIAL INC SLF 866796105 $161.4M 1.19% 2,061,273 SH
18 AGNICO EAGLE MINES LTD AEM 008474108 $151.3M 1.12% 975,936 SH
19 CENOVUS ENERGY INC CVE 15135U109 $148.2M 1.10% 5,987,906 SH
20 TC ENERGY CORP TRP 87807B107 $142.1M 1.05% 2,150,666 SH
21 ALPHABET INC GOOGL 02079K305 $125.4M 0.93% 350,882 SH
22 CROWDSTRIKE HLDGS INC Call CRWD 22788C105 $122.1M 0.90% 160,000 SH
23 MONGODB INC Call MDB 60937P106 $119.2M 0.88% 355,000 SH
24 SNOWFLAKE INC Call SNOW 833445109 $115.5M 0.85% 454,000 SH
25 MICRON TECHNOLOGY INC Put MU 595112103 $115.4M 0.85% 100,000 SH
26 CELESTICA INC CLS 15101Q207 $109.8M 0.81% 301,938 SH
27 WHEATON PRECIOUS METALS CORP WPM 962879102 $109.0M 0.81% 971,176 SH
28 APPLE INC AAPL 037833100 $103.8M 0.77% 358,892 SH
29 INVESCO EXCHANGE TRADED FD T RSP 46137V357 $103.6M 0.77% 486,850 SH
30 TECK RESOURCES LTD TECK 878742204 $103.0M 0.76% 1,733,240 SH
31 HUDBAY MINERALS INC HBM 443628102 $97.9M 0.72% 4,154,931 SH
32 OR ROYALTIES INC OR 68390D106 $97.6M 0.72% 3,091,096 SH
33 BARRICK MNG CORP B 06849F108 $97.0M 0.72% 2,644,794 SH
34 WASTE CONNECTIONS INC WCN 94106B101 $94.6M 0.70% 569,050 SH
35 INVESCO EXCH TRADED FD TR II SPLV 46138E354 $93.9M 0.69% 1,254,188 SH
36 ROGERS COMMUNICATIONS INC RCI 775109200 $91.3M 0.68% 2,814,609 SH
37 AMAZON COM INC AMZN 023135106 $86.5M 0.64% 362,728 SH
38 IAMGOLD CORP IAG 450913108 $79.2M 0.59% 5,016,085 SH
39 BROOKFIELD RENEWABLE ENERGY BEP G16258108 $76.7M 0.57% 2,219,312 SH
40 MICROSOFT CORP MSFT 594918104 $73.1M 0.54% 195,877 SH
41 CAMECO CORP CCJ 13321L108 $64.0M 0.47% 629,127 SH
42 BANK NOVA SCOTIA B C BNS 064149107 $63.7M 0.47% 735,921 SH
43 ADVANCED MICRO DEVICES INC AMD 007903107 $62.9M 0.46% 108,198 SH
44 GILDAN ACTIVEWEAR INC GIL 375916103 $61.8M 0.46% 1,200,891 SH
45 JPMORGAN CHASE & CO JPM 46625H100 $60.8M 0.45% 185,755 SH
46 CELESTICA INC Call CLS 15101Q207 $56.9M 0.42% 156,000 SH
47 DESCARTES SYS GROUP INC DSGX 249906108 $56.8M 0.42% 822,771 SH
48 MICRON TECHNOLOGY INC MU 595112103 $54.4M 0.40% 47,110 SH
49 PAN AMERN SILVER CORP PAAS 697900108 $54.0M 0.40% 1,207,847 SH
50 MAGNA INTL INC MGA 559222401 $51.5M 0.38% 784,411 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-13 $13.52B 1,378 0001539041-26-000020
2026-03-31 2026-05-13 $13.55B 1,238 0001539041-26-000013
2025-12-31 2026-02-11 $12.91B 1,198 0001539041-26-000005
2025-09-30 2025-11-12 $11.08B 1,069 0001539041-25-000062
Filer Information
Address
33 YONGE STREET, SUITE 320
TORONTO, A6 M5E 1G4
Phone
(416) 955-4108
Filing Manager
PICTON MAHONEY ASSET MANAGEMENT
Toronto, A6
Signatory
Ahsan Ahmed
Chief Compliance Officer