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 (NYSE:BN) 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 (NYSE:BN) 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 (NYSE:FNV) 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 (NYSE:AEM) 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 (NYSE:AEM) 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 (NYSE:CCJ) 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 (NYSE:CCJ) 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. (NYSE:HBM) 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. (NYSE:HBM) 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.
While we acknowledge the potential of HBM to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than HBM and that has 100x upside potential, check out our report about the cheapest AI stock.
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