In this article, we will discuss the 10 Best Canadian Stocks to Invest In According to Billionaires.
On June 8, Michael Zinn, Managing Director & Senior Portfolio Manager at UBS, joined BNN Bloomberg to discuss the outlook on the markets. Zinn observed a buy-on-the-dip mentality in the current market, though he suggests that investors may now face a higher bar to justify further gains, as expectations have already climbed quite high. He identified several percolating issues, specifically noting that if oil prices were to reach new highs, it could derail current market expectations. While he does not currently expect this outcome, he views it as a significant risk. Furthermore, he pointed to inflation as a potential fly-in-the-ointment in the US and highlighted the upcoming debut of the new Fed Chair, Kevin Warsh, whose task of navigating various cross-currents within the Fed may lead to potential fireworks.
Regarding the situation in the Middle East, Zinn remarked that while the market has largely faded the impact of the ongoing conflict, average investors have often been perplexed by the market’s tendency to ignore these significant issues. He attributed this market behavior to sufficient oil supplies and the rapid entry of alternative pipelines and suppliers into the market. However, he noted that energy experts are beginning to warn that inventories are running low. While he believes that the current positioning expects a resolution to the conflict, Zinn considers it a logical portfolio management strategy to maintain a slight overweight position in energy. He views this as an easy hedge against the more massive, concentrated trade in AI.
On the subject of AI, Zinn clarifies that while Friday’s sell-off was significant, it was concentrated in higher market-cap stocks, and noted that roughly half of the stocks in the S&P 500 were actually up on that day. This highlights the narrow market leadership that has defined the year, characterized by a catch-up trade as investors rushed to add AI infrastructure stocks to their portfolios amid rising earnings expectations. As the earnings season concludes, guidance remains solid but is arguably less wildly optimistic, leading to the trading down of these specific stocks. Zinn believes that the bullish trend for AI is far from over, but the market may be entering a period of more muted participation, suggesting a sell-to-rally dynamic going forward. Zinn advocates for diversification as a strategy for H2 of the year, specifically mentioning healthcare and Europe.
Our Methodology
We used screeners to identify Canadian stocks and limited our final selection to companies that have recently reported noteworthy developments likely to impact investor sentiment. We then screened 10 stocks with over 15 billionaire investors from Insider Monkey’s database of billionaire holdings, as of Q1 2026. These stocks are also popular among analysts and elite hedge funds.
Note: All data was sourced on June 8.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Insider Monkey’s quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 599.2% since May 2014, beating its benchmark by 372 percentage points (see more details here).
10 Best Canadian Stocks to Invest In According to Billionaires
10. Brookfield Corporation (NYSE:BN)
Dollar Value of Billionaire Holdings: $3.91 billion
Number of Billionaire Investors: 16
Brookfield Corporation (NYSE:BN) is one of the best Canadian stocks to invest in according to billionaires. On May 25, Brookfield Corporation received approval from the Toronto Stock Exchange to renew its normal course issuer bid, authorizing the purchase of up to 191,034,672 Class A Limited Voting Shares. This initiative represented 10% of the public float and was to run from May 27 to May 26. Transactions were to occur on the TSX, NYSE, or alternative trading systems at prevailing market prices.
During the previous bid period, which began in May 2025, the company purchased a total of 15,130,344 Class A Shares on a post-split basis at a weighted average price of $41.51 per share. Brookfield Corporation is renewing the program to maintain flexibility in its capital allocation strategy, noting that all acquired shares will either be cancelled or used to support long-term incentive plans.
To facilitate these repurchases, Brookfield expects to implement an automatic share purchase plan around the week of June 15. This plan will allow for share acquisitions during periods when the company would otherwise be restricted from trading, such as internal black-out periods. At other times, repurchases will be conducted at management’s discretion in compliance with all applicable regulations.
Brookfield Corporation is a multi-asset manager investing across real estate, credit, renewable power, infrastructure, venture capital, and private equity.
9. Franco-Nevada Corporation (NYSE:FNV)
Dollar Value of Billionaire Holdings: $1.85 billion
Number of Billionaire Investors: 17
Franco-Nevada Corporation (NYSE:FNV) is one of the best Canadian stocks to invest in according to billionaires. On May 12, Franco-Nevada achieved record financial results in FQ1 2026, with revenue rising 77% to $650.7 million. This growth was driven by high commodity prices, new asset contributions, and a tax refund, leading to record-breaking operating cash flow, Adjusted EBITDA, and net income. CEO Paul Brink highlighted that the company’s royalty and streaming model remains insulated from inflation while benefiting from rising oil prices.
The company also announced a leadership transition, with Tom Albanese appointed as the new independent non-executive Chair of the Board. He succeeds David Harquail, who retires as Chair after 18 years to become Chair Emeritus. Harquail was recognized for his pivotal role in the company’s IPO and its long-term development into a major financial player in the gold royalty sector.
Operationally, precious metal assets accounted for 87% of quarterly revenue, supported by strong performance from assets like Antamina, Hemlo, and newer projects such as Côté Gold. The company sold 136,353 Gold Equivalent Ounces and concluded the quarter with $3.4 billion in available capital. This strong balance sheet continues to support Franco-Nevada Corporation’s (NYSE:FNV) strategy of delivering long-term value to its shareholders.
Franco-Nevada Corporation operates as a royalty and stream company. It is focused on precious metals, including silver, gold, and platinum group metals. The company operates in the Precious Metals, Other Mining, and Energy segments.
8. Agnico Eagle Mines Limited (NYSE:AEM)
Dollar Value of Billionaire Holdings: $1.94 million
Number of Billionaire Investors: 18
Agnico Eagle Mines Limited (NYSE:AEM) is one of the best Canadian stocks to invest in according to billionaires. On May 4, Agnico Eagle Mines Limited received TSX approval to renew its normal course issuer bid/NCIB, allowing the company to repurchase up to 25,024,469 common shares or a maximum aggregate purchase price of $2 billion. The program is set to run from May 6, 2026, through May 5, 2027. All shares acquired under this initiative will be cancelled, with repurchases to be funded by existing cash resources.
Management will determine the timing and volume of open-market purchases based on market conditions, with daily TSX buybacks limited to 264,928 shares. To ensure continuity, Agnico Eagle Mines Limited established an automatic share purchase plan, effective May 10, which enables the company to continue repurchases during restricted trading periods, such as internal black-out windows.
This renewal serves as a key component of Agnico Eagle’s broader capital allocation strategy alongside its dividend program. Under the previous NCIB, which concluded on May 3, the company successfully purchased 4,472,799 shares at a weighted-average price of approximately $162.83 per share.
Agnico Eagle Mines Limited is a senior Canadian gold mining company and the world’s second-largest gold producer, focused on exploring, developing, and operating mines. Founded in 1957, it operates high-quality, low-risk assets primarily in Canada, Australia, Finland, and Mexico, with about 85% of its production coming from Canada.
7. Cameco Corporation (NYSE:CCJ)
Dollar Value of Billionaire Holdings: $535 million
Number of Billionaire Investors: 19
Cameco Corporation (NYSE:CCJ) is one of the best Canadian stocks to invest in according to billionaires. On June 1, Cameco and Orano Canada agreed to acquire TEPCO Resources’ 5% interest in the Cigar Lake JV. Upon closing, expected in Q3 2026, Cameco’s ownership in the uranium mine will increase to 57.418%, while Orano’s stake will rise to 42.582%. Cameco is paying ~$115.75 million for its portion of the acquisition, subject to standard closing adjustments.
CEO Tim Gitzel described Cigar Lake as a tier-one asset essential to the company’s strategy of supporting global nuclear energy expansion. The mine, which features high-grade uranium ore, is supported by strong partnerships with neighboring Indigenous communities that provide critical labor and supply chain contributions.
The Cigar Lake mine currently holds significant reserves, with proven and probable estimates of 172.4 million pounds of U3O8. Cameco Corporation maintains a 2026 production outlook of 17.5 to 18 million pounds on a 100% basis. Development activities remain focused on the current mining area and the Cigar Lake extension project, which is designed to extend the mine’s operational life until 2036.
Cameco Corporation operates globally, producing uranium and nuclear fuel products for the generation of clean, safe, and reliable electricity.
6. Hudbay Minerals Inc. (NYSE:HBM)
Dollar Value of Billionaire Holdings: $455 million
Number of Billionaire Investors: 20
Hudbay Minerals Inc. (NYSE:HBM) is one of the best Canadian stocks to invest in according to billionaires. On May 28, Hudbay Minerals received Toronto Stock Exchange approval to launch a normal course issuer bid/NCIB to repurchase up to 19,863,997 of its common shares, representing 5% of its issued and outstanding shares as of May 21. The program will run from June 1 to May 31, with all acquired shares slated for cancellation. The company intends to fund these repurchases using cash flow from operations.
Management will determine the timing and volume of open-market purchases based on factors such as market conditions and available capital. Daily purchases on the TSX are capped at 469,604 shares, excluding permitted weekly block purchases. Hudbay Minerals Inc. noted that while this program provides a mechanism to return value to shareholders, there is no guarantee regarding the specific number of shares that will ultimately be repurchased.
The company is renewing its NCIB because it believes the current market price may not reflect the full underlying value and future prospects of its business. Hudbay did not complete any share repurchases under its previous NCIB, which was authorized in May 2025 and expired on May 29, 2026.
Hudbay Minerals Inc. is a mining company that produces copper concentrate, molybdenum concentrate, and zinc metal. The company’s focus is on the production, discovery, and marketing of base and precious metals.
5. Shopify Inc. (NASDAQ:SHOP)
Dollar Value of Billionaire Holdings: $2.29 billion
Number of Billionaire Investors: 21
Shopify Inc. (NASDAQ:SHOP) is one of the best Canadian stocks to invest in according to billionaires. On June 2, Shopify announced a $3 billion expansion to its share repurchase program, increasing its total aggregate authorization to $5 billion. This move reflects the company’s confidence in its long-term business durability and its ongoing ability to generate consistent operating cash flow.
Chief Financial Officer Jeff Hoffmeister highlighted that this capital allocation strategy allows Shopify to balance investments in merchant-focused product development with returning value to shareholders. The company emphasized that its balance sheet remains structured to support this dual focus, even during periods of market volatility.
As of June 1, Shopify Inc. had already repurchased approximately $1.45 billion in shares under its existing authorization. The company will continue to execute the program through algorithmic trading instructions, with no mandatory minimums. Repurchases remain discretionary and may be adjusted, suspended, or terminated based on market conditions and legal requirements.
Shopify Inc. operates as a commerce technology company. The company offers tools to run, start, market, and scale businesses of different sizes globally. It is also involved in the sale of themes and apps, advertising on the Shopify App Store, point-of-sale hardware, shipping labels through Shopify Shipping, and Shop Campaigns for buyer acquisitions.
4. Canadian National Railway Company (NYSE:CNI)
Dollar Value of Billionaire Holdings: $7.84 billion
Number of Billionaire Investors: 22
Canadian National Railway Company (NYSE:CNI) is one of the best Canadian stocks to invest in according to billionaires. On June 4, Canadian National Railway announced that propane export shipments from South Beamer, Alberta, to Watson Island, British Columbia, reached an all-time monthly record in May. This performance marks a 40% increase in carloads compared to May 2025 and surpasses the company’s previous record set in August 2024.
The record-setting volume was achieved through operational enhancements, including train length optimizations and improved network efficiency across the corridor. By focusing on service consistency and asset utilization, CN successfully moved greater volumes to the West Coast while remaining within existing commercial arrangements.
CN continues to prioritize reliable transportation solutions to support growing demand for Canadian propane exports. The company stated it remains committed to working alongside supply chain partners, such as Pembina, to maintain safe and efficient logistics as it leverages additional capacity for future customer growth.
Canadian National Railway Company is a transportation and logistics company. Its services include rail, intermodal, trucking, and supply chain solutions.
3. Suncor Energy Inc. (NYSE:SU)
Dollar Value of Billionaire Holdings: $8.84 billion
Number of Billionaire Investors: 23
Suncor Energy Inc. (NYSE:SU) is one of the best Canadian stocks to invest in according to billionaires. On May 5, Suncor Energy reported strong results for FQ1 2026, generating over $4.0 billion in adjusted funds from operations and $2.9 billion in free funds flow. The company returned more than $1.5 billion to shareholders, consisting of $825 million in share repurchases and over $700 million in dividends. Management noted that these results were achieved while maintaining a disciplined capital spending program and a robust balance sheet.
The quarter was defined by record-setting operational performance, including upstream production of 875,000 barrels per day (bbls/d). Additionally, the company achieved its highest-ever Q1 refining throughput at 498,000 bbls/d and a record-breaking 681,000 bbls/d in refined product sales. These figures represent notable increases over the same period in the previous year.
CEO Rich Kruger attributed this success to the company’s focus on high-performance execution and meeting its strategic commitments. Building on this momentum, CFO Troy Little confirmed that the company has increased its monthly share repurchases for the second time in four months, underscoring Suncor Energy Inc.’s (NYSE:SU) dedication to generating sustainable returns for its shareholders.
Suncor Energy Inc. is a Canada-based integrated energy company. Its operations are organized into Oil Sands, Exploration and Production, and Refining and Marketing segments.
2. Lululemon Athletica Inc. (NASDAQ:LULU)
Dollar Value of Billionaire Holdings: $898 million
Number of Billionaire Investors: 26
Lululemon Athletica Inc. (NASDAQ:LULU) is one of the best Canadian stocks to invest in according to billionaires. On June 4, Lululemon Athletica reported its financial results for FQ1 2026. The company saw net revenue increase 4% to $2.5 billion, while diluted EPS were $1.69, down from $2.60 in the same period last year. During the quarter, the company repurchased 2.2 million shares for $358.3 million and expanded its retail footprint to 816 stores.
Interim Co-CEOs Meghan Frank and André Maestrini noted a solid start to the year characterized by disciplined execution and growth in international markets, which saw revenue rise 22%. However, the company experienced a 3% decline in Americas net revenue and is currently navigating market headwinds. Management is taking steps to reposition the business, strengthen its product engine, and address recent performance challenges to reignite growth.
Looking ahead, Lululemon has adjusted its outlook for the remainder of the year. For the second quarter, the company anticipates net revenue between $2.45 billion and $2.475 billion. For the full fiscal year 2026, Lululemon Athletica Inc. now expects net revenue to range from $11 billion to $11.15 billion, with diluted earnings per share projected to be between $10.95 and $11.15.
Lululemon Athletica Inc. engages in the business of designing, distributing, and retailing technical athletic apparel, footwear, and accessories.
1. Celestica Inc. (NYSE:CLS)
Dollar Value of Billionaire Holdings: $3.11 billion
Number of Billionaire Investors: 27
Celestica Inc. (NYSE:CLS) is one of the best Canadian stocks to invest in according to billionaires. On May 13, Celestica announced plans to establish a major new operational campus in AllianceTexas, located in Fort Worth, Texas. This expansion is designed to scale the company’s manufacturing footprint to meet the surging global demand for next-generation data center infrastructure and advanced technology solutions. The facility will be a central component of the company’s long-term growth strategy within the region.
Once fully operational, the new campus will span over one million square feet of dedicated manufacturing and engineering space. The project is expected to generate ~1,700 full-time, highly skilled positions in areas such as manufacturing, engineering, supply chain management, and quality assurance.
Chief Operations Officer Yann Etienvre stated that the investment aligns with the company’s need to support client roadmaps and multi-year infrastructure projects with US-based capabilities. This Fort Worth expansion serves as a key pillar in Celestica Inc.’s (NYSE:CLS) broader initiative to support its engineering talent and operational capacity for the future of the advanced technology sector.
Celestica Inc. is a supply chain solutions provider across North America, Asia, and globally. The company operates in the Connectivity & Cloud Solutions and Advanced Technology Solutions segments. It provides a wide range of product manufacturing and related supply chain services, as well as hardware platform solutions and hardware and software design solutions and services.
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