category: News and Insights

Our Portfolio Manager, Sam LaBell, joined BNN Bloomberg to discuss the market pullback and his cautious approach to tech stocks.

 

Our Portfolio Manager, Sam LaBell, joined BNN Bloomberg to discuss the markets and why he is pulling back on gold.

 

With gold rising a further 11.9% in September to US$3,859 per ounce, our top performers in September included gold producers Hudbay Minerals Inc. (NYSE, TSX: HBM), Barrick Mining Corp. (NYSE: B, TSX: ABX), Agnico Eagle
Mines Ltd. (NYSE, TSX: AEM) and Newmont Corp. (NYSE: NEM). Each of the companies remains on track to achieve their 2025 production guidance and lower their unit costs. Hudbay also benefited from the announcement of its Copper World JV with Mitsubishi and management’s reassurance that it can manage through unrest in Peru.
Another top performer was Bombardier Inc. (TSX: BBD.b), which rose in September as the Business Jet maker outlined its outlook for defence revenues and aftermarket services, which it expects to reach roughly half of future sales. Bombardier sees opportunities from increased government procurement tied to rising NATO spending goals in Canada and other member countries.

Visit Next Edge to learn more about the fund and read the full monthly commentary.

Sources: Veritas Asset Management, Eikon, Bloomberg, as of September 30, 2025

Our Portfolio Manager, Sam LaBell, joined BNN Bloomberg to discuss labour trends, consumer spending, tariffs and a key holding, Alimentation Couche-Tard Inc.

 

The Veritas Next Edge Premium Yield Fund’s top performers in July 2025 included Bombardier Inc. (TSX: BBD.b), which rose after the company announced a firm order for 50 Challenger and Global aircraft to be delivered
beginning in 2027. The US$1.7 billion deal includes a value-added service agreement and options that could increase deliveries to US$4 billion over time.

Other top performers included Rogers Communications Inc. (NYSE: RCI, TSX: RCI.b), Lumine Grup Inc. (TSX: LMN.v), Alimentation Couche-Tard Inc. (TSX: ATD) and Agnico Eagle Mines Ltd. (NYSE, TSX: AEM).

Visit Next Edge to learn more about the fund and read the full monthly commentary.

Sources: Veritas Asset Management, Eikon, Bloomberg, as of July 31, 2025

Our Portfolio Manager, Sam LaBell, was on BNN Bloomberg, discussing his view on why the markets are on a bullish run, tariffs, the outlook for the second half of 2025 and one of his favoured picks, Alimentation Couche-Tard Inc.

 

The top performers for the Veritas Next Edge Premium Yield Fund in June 2025 included Bombardier Inc. (TSX: BBD.b), which rose in the month as North Atlantic Treaty Organization (NATO) allies agreed to increase defence spending to 5% of GDP by 2035. We anticipate that Bombardier is well-positioned to land new orders from NATO’s increased spending commitments.

Other top performers included Rogers Communications Inc. (NYSE: RCI, TSX: RCI.b), Barrick Mining Corp. (NYSE: B, TSX: ABX), Atkinsrealis Group Inc. (TSX: ATRL) and Tourmaline Oil Corp. (TSX: TOU).

Visit Next Edge to learn more about the fund and read the full monthly commentary.

Sources: Veritas Asset Management, Eikon, Bloomberg, as of June 30, 2025

Our Portfolio Manager, Sam LaBell, recently appeared on BNN Bloomberg’s show, The Close, with host Andrew Bell. They spoke about how tariffs have thrown off economic indicators, as buyers have tried to stock inventory ahead of tariffs and pulled forward demand.

 

The top performers for the Veritas Next Edge Premium Yield Fund in May 2025 included Canada Goose Holdings Inc. (NYSE, TSX: GOOS), which saw its shares rise in the month as its earnings beat expectations and company-specific tariff concerns dissipated. Its earnings were fuelled by a 7% increase in direct-to-consumer comparable sales and 17% year-over-year North American revenue growth for the quarter. We continue to like Canada Goose’s positioning as it broadens its sales mix to lessen seasonality and improve its channel relationships.

Other top performers included AtkinsRéalis Group Inc. (TSX: ATRL), Barrick Mining Corp. (NYSE: B, TSX: ABX), Canadian Pacific Kansas City Ltd. (NYSE, TSX: CP) and Granite Real Estate Investment Trust (TSX: GRT.un).

Visit Next Edge to learn more about the fund and read the full monthly commentary.

Sources: Veritas Asset Management, Eikon, Bloomberg, as of May 31, 2025

The top performers for the Veritas Next Edge Premium Yield Fund in April 2025 included Bombardier Inc. (TSX: BBD.b), which rose in the month as the company confirmed that its aircraft comply with the United States-Mexico-Canada Agreement (USMCA) and are therefore shielded from the worst of the U.S. tariff risks. Bombardier and its aircraft industry peers have reported a positive uptick in client interest and stable book-to-bill ratios following the recent easing of tariff tensions. The business jet market continues to do well, with Bombardier set to meet its targets this year, which we expect to drive a re-rating of its shares.

Other top performers included Loblaw Companies Ltd. (TSX: L), Nutrien Ltd. (NYSE, TSX: NTR) and Lumine Group Inc. (TSX: LMN.v).

Visit Next Edge to learn more about the fund and read the full monthly commentary.

Sources: Veritas Asset Management, Eikon, Bloomberg as of April 30, 2025