Murchinson Ltd.

All Holdings — 2025 Q4

AI Portfolio Summary
In 2025 Q4, Murchinson Ltd. maintained a portfolio of 137 distinct positions. The most significant new addition to the portfolio was NUTRIEN LTD, which now represents 8.89% of the total fund value. They heavily accumulated shares in TC ENERGY CORP, increasing their position by 39580.0%. The fund also reduced its exposure to TC ENERGY CORP by 75.7%.
PCA Score Concentration Risk
Risk ENB
Total Positions
137
Quarter
2025 Q4
Top Holding
TRP (17.6%)
Top 10 Concentration
71.4%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 137
Stock History Sector / Type Port % Prev % Rank / Prev Conviction Change % Change Influence Shares Mkt Value Avg Cost Price Held 1st Owned Source Source Date Date Reported
TRP
TC ENERGY CORP
PUT
PUT Option 17.56% 0.03% #1 81
Prev: #82
9.0 1,979,000 39580.0%
P
S
1,984,000 $109,139,840 2021 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
WOLF
WOLFSPEED INC
PUT
PUT Option 10.74% 13.91% #2 1
Prev: #3
6.5 no change no change
P
S
3,834,800 $66,763,868 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
NTR
NUTRIEN LTD
PUT
PUT Option 8.89% #3
Prev: #—
8.1 895,300 no change
NEW
895,300 $55,257,916 2024 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
TRP
TC ENERGY CORP
Energy 8.71% 27.96% #4 3
Prev: #1
4.0 -3,066,000 -75.7%
P
S
984,068 $54,133,581 2021 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
SOBO
SOUTH BOW CORP
PUT
PUT Option 6.49% #5
Prev: #—
6.6 1,467,400 no change
NEW
1,467,400 $40,309,478 2025 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
SPY
SPDR S&P 500 ET...
PUT
PUT Option 5.49% #6
Prev: #—
5.7 50,000 no change
NEW
50,000 $34,096,000 2022 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
LIBERTY MEDIA C...
Bond/Debt 4.06% 0.03% #7 76
Prev: #83
2.6 no change no change
P
S
250,000 $25,207,000 13F Filing 2025-12-31 2026-02-14 (Est.)
NNDM
NANO DIMENSION ...
Technology 3.85% 3.10% #8 3
Prev: #5
2.5 no change no change
P
S
15,550,000 $23,947,000 2021 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
ORCL
ORACLE CORP
CALL
CALL Option 3.14% #9
Prev: #—
4.8 100,000 no change
NEW
100,000 $19,491,000 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
SUNC
SUNOCOCORP LLC
Energy 2.52% #10
Prev: #—
4.5 317,768 no change
NEW
317,768 $15,659,607 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
MSTR
STRATEGY INC
PUT
PUT Option 2.44% #11
Prev: #—
4.5 100,000 no change
NEW
100,000 $15,195,000 2022 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
RY
ROYAL BK CDA
CALL
CALL Option 1.71% 2.82% #12 6
Prev: #6
0.7 -88,800 -58.8%
P
S
62,300 $10,621,527 2022 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
YORKVILLE ACQUI...
Unknown 1.63% 1.35% #13 4
Prev: #9
1.7 no change no change
P
S
1,000,400 $10,134,052 13F Filing 2025-12-31 2026-02-14 (Est.)
RY
ROYAL BK CDA
PUT
PUT Option 1.46% 2.82% #14 7
Prev: #7
0.6 -97,800 -64.7%
P
S
53,300 $9,087,117 2022 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
PTHS
PELTHOS THERAPE...
Healthcare 1.44% 0.99% #15 4
Prev: #11
1.1 9,479 3.4%
P
S
289,479 $8,973,849 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
TD
TORONTO DOMINIO...
PUT
PUT Option 1.36% 0.72% #17 1
Prev: #18
3.0 19,000 26.8%
P
S
90,000 $8,478,000 2024 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
TD
TORONTO DOMINIO...
CALL
CALL Option 1.36% 0.72% #16 1
Prev: #17
3.0 19,000 26.8%
P
S
90,000 $8,478,000 2024 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
DAY
DAYFORCE INC
Technology 1.12% #18
Prev: #—
3.9 100,371 no change
NEW
100,371 $6,941,658 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
MRNA
MODERNA INC
PUT
PUT Option 0.95% #19
Prev: #—
3.9 200,000 no change
NEW
200,000 $5,898,000 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
PYPL
PAYPAL HLDGS IN...
CALL
CALL Option 0.94% #20
Prev: #—
3.9 100,000 no change
NEW
100,000 $5,838,000 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
RKT
ROCKET COS INC
Financial Services 0.93% #21
Prev: #—
3.9 300,015 no change
NEW
300,015 $5,808,290 2023 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
RKT
ROCKET COS INC
PUT
PUT Option 0.93% 0.74% #22 6
Prev: #16
1.4 no change no change
P
S
300,000 $5,808,000 2023 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
BMO
BANK MONTREAL Q...
PUT
PUT Option 0.89% 0.50% #23 5
Prev: #28
2.9 12,500 41.7%
P
S
42,500 $5,516,075 2022 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
BMO
BANK MONTREAL Q...
CALL
CALL Option 0.89% 0.50% #24 3
Prev: #27
2.9 12,500 41.7%
P
S
42,500 $5,516,075 2022 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
NFLX
NETFLIX INC
ETF 0.75% #25
Prev: #—
3.8 50,000 no change
NEW
50,000 $4,688,000 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
CLST
CATALYST BANCOR...
Financial Services 0.66% #26
Prev: #—
3.8 259,067 no change
NEW
259,067 $4,080,305 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
FLR
FLUOR CORP NEW
PUT
PUT Option 0.64% #27
Prev: #—
3.8 100,000 no change
NEW
100,000 $3,963,000 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
ORMP
ORAMED PHARMACE...
Healthcare 0.61% 0.59% #28 3
Prev: #25
0.2 -411,312 -23.5%
P
S
1,340,247 $3,819,704 2023 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
AUB
ATLANTIC UN BAN...
Financial Services 0.61% 0.48% #29
Prev: #29
1.2 no change no change
P
S
106,874 $3,772,652 2025 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
PFE
PFIZER INC
CALL
CALL Option 0.60% #30
Prev: #—
3.7 150,000 no change
NEW
150,000 $3,735,000 2021 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
NTR
NUTRIEN LTD
CALL
CALL Option 0.52% #31
Prev: #—
3.7 52,300 no change
NEW
52,300 $3,227,956 2024 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
GIL
GILDAN ACTIVEWE...
Consumer Cyclical 0.51% #32
Prev: #—
3.7 51,012 no change
NEW
51,012 $3,186,210 2024 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
ENB
ENBRIDGE INC
CALL
CALL Option 0.46% #33
Prev: #—
3.7 60,000 no change
NEW
60,000 $2,869,800 2024 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
KVUE
KENVUE INC
Consumer Defensive 0.42% #34
Prev: #—
3.7 150,000 no change
NEW
150,000 $2,587,500 2023 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
AEM
AGNICO EAGLE MI...
PUT
PUT Option 0.41% 0.81% #35 20
Prev: #15
0.2 -22,800 -60.3%
P
S
15,000 $2,542,950 2022 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
AEM
AGNICO EAGLE MI...
CALL
CALL Option 0.41% 0.81% #36 22
Prev: #14
0.2 -22,800 -60.3%
P
S
15,000 $2,542,950 2022 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
RICK
RCI HOSPITALITY...
CALL
CALL Option 0.38% #37
Prev: #—
3.7 100,000 no change
NEW
100,000 $2,384,000 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
GCI
USA TODAY CO IN...
Unknown 0.35% 0.26% #38 2
Prev: #40
0.6 -80,000 -16.0%
P
S
420,000 $2,163,000 2024 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
TASK
TASKUS INC
Technology 0.32% 0.40% #39 7
Prev: #32
0.6 -5,700 -3.3%
P
S
168,798 $1,990,128 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
B
BARRICK MNG COR...
CALL
CALL Option 0.30% #40
Prev: #—
3.6 43,200 no change
NEW
43,200 $1,881,360 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
B
BARRICK MNG COR...
PUT
PUT Option 0.30% #41
Prev: #—
3.6 43,200 no change
NEW
43,200 $1,881,360 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
BMO
BANK MONTREAL Q...
Financial Services 0.28% #42
Prev: #—
3.6 13,347 no change
NEW
13,347 $1,732,307 2022 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
ABUS
ARBUTUS BIOPHAR...
Healthcare 0.21% 0.12% #43 13
Prev: #56
2.6 75,000 37.5%
P
S
275,000 $1,322,750 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
ABUS
ARBUTUS BIOPHAR...
CALL
CALL Option 0.17% 0.13% #44 10
Prev: #54
1.1 no change no change
P
S
222,900 $1,072,149 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
ENB
ENBRIDGE INC
PUT
PUT Option 0.15% #45
Prev: #—
3.6 20,000 no change
NEW
20,000 $956,600 2024 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
BCE
BCE INC
CALL
CALL Option 0.14% 0.07% #47 19
Prev: #66
3.1 12,500 50.0%
P
S
37,500 $893,250 2024 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
BCE
BCE INC
PUT
PUT Option 0.14% 0.07% #46 21
Prev: #67
3.1 12,500 50.0%
P
S
37,500 $893,250 2024 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
NGD
NEW GOLD INC CD...
Basic Materials 0.14% #48
Prev: #—
3.6 100,000 no change
NEW
100,000 $871,000 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
WOLF
WOLFSPEED INC
Technology 0.14% 0.28% #49 11
Prev: #38
0.1 -27,861 -36.0%
P
S
49,553 $862,718 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
GENVR
GEN DIGITAL INC
Unknown 0.08% 0.10% #50 9
Prev: #59
1.0 no change no change
P
S
111,569 $504,292 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
Showing 1-50 of 137 holdings

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