Murchinson LTD.
Murchinson Ltd. is an investment adviser based in Toronto, Canada, primarily serving as an investment advisor and sub-advisor to institutional clients and certain investment vehicles, including managed accounts. The firm is active in global equity and credit markets and is known for shareholder activism and special situations, especially in small- and mid-cap public companies. It operates as an Exempt Reporting Adviser with the SEC, founded in 2012. Employee count is not publicly disclosed, but it is considered a boutique-sized manager.
Investment Strategy
Murchinson Ltd. focuses on global public and private equities and debt, specializing in shareholder activism, event-driven strategies, and special situations. Its approach includes engaging with underperforming or undervalued companies to unlock shareholder value, particularly via corporate governance initiatives, mergers and acquisitions proposals, and capital structure optimization. The firm seeks absolute return for investors while minimizing risk, and pursues investments with strong catalysts for change, leveraging deep analysis and active involvement.
Top Holdings
Equity Positions (42)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
S SOBO | SOUTH BOW CORP | 11.30% | $31.9M | 1,231,600 | $25.52 | $25.91 | -$102.7M |
N NNDM | NANO DIMENSION LTD | 8.92% | $25.2M | 15,550,000 | $2.81 | $1.62 | +$466.5K |
E ESGR | ENSTAR GROUP LIMITED | 5.56% | $15.7M | 46,709 | $336.36 | $336.36 | +$15.7M |
G GLD | SPDR GOLD TR | 5.40% | $15.2M | 50,000 | $304.83 | $304.83 | +$15.2M |
V VALE | VALE S A | 3.44% | $9.7M | 1,000,000 | $11.68 | $9.71 | -$270.0K |
Options Positions (6)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
S SPY | SPDR S&P 500 ETF TR | Sold | Call | $92.7M | 1,500 | $617.85 | $559.39 | -3,500 | -$187.0M |
B BYND | BEYOND MEAT INC | — | Put | $2.9M | 8,392 | $3.49 | $7.09 | 0 | -$213.5M |
L LUMN | LUMEN TECHNOLOGIES INC | — | Put | $543.7K | 1,182 | $4.38 | $1.46 | 0 | +$80.4K |
G GSAT | GLOBALSTAR INC | — | Call | $329.7K | 140 | $23.55 | $20.86 | 0 | +$310.1K |
T TLRY | TILRAY BRANDS INC | New | Put | $164.0K | 4,000 | $0.41 | $0.41 | +4,000 | +$164.0K |