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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.
Latest 13F Filing Activity
Murchinson LTD. filed their most recent 13F report on Jun 30, 2025 disclosing 42 equity positions and 6 options positions with a total 13F market value of $282M. The fund increased holdings in Enstar Group Limited, SPDR Gold TR, Ansys Inc. among other positions. Murchinson LTD. reduced exposure to Bank Nova Scotia Halifax, South Bow Corp., Core Scientific Inc. New among others.
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 |
Industry Allocation
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