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).
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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).
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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).
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Sources: Veritas Asset Management, Eikon, Bloomberg as of April 30, 2025
Our Portfolio Manager, Sam LaBell, appeared on two segments on BNN Bloomberg recently to discuss Gold, tariffs, banks and auto parts.
Our top performers for our Veritas Next Edge Premium Yield Fund in March 2025 included Wheaton Precious Metals Corp. (NYSE, TSX: WPM), Agnico Eagle Mines Ltd. (NYSE, TSX: AEM) and Barrick Gold Corp. (NYSE: GOLD, TSX: ABX). These stocks benefited from a further 9% increase in gold prices in March to US$3,124, as investors continued to accumulate safe-haven assets in response to proposed U.S. tariffs. With geopolitical and economic risks on the rise, we also expect central banks to continue their recent gold buying as they attempt to diversify their assets and hedge U.S. dollar risks.
Other top performers included Canadian Natural Resources Ltd. (NYSE, TSX: CNQ) and Cogeco Communications Inc. (TSX: CCA).
Visit Next Edge to learn more about the fund and read the full monthly commentary.
Sources: Veritas Asset Management, Eikon, Bloomberg as of March 31, 2025
South Bow Corp. (NYSE, TSX: SOBO) rose in February in advance of fourth-quarter earnings and on market speculation that the Keystone XL project could see a revival. In our view, bringing back Keystone XL remains a long shot; however, we continue to like SOBO’s dividend yield of ~8%, which is well supported by the company’s potential for long-term EBITDA growth of 2% to 3% annually.
Our top performers in February 2025 included Wheaton Precious Metals Corp. (TSX, NYSE: WPM), Barrick Gold Corp. (NYSE: GOLD, TSX and Lundin Gold Inc. (S&P/TSX: LUG). These stocks benefitted from a further 2% increase in gold prices in February to US$2,858 per ounce, as investors continued to accumulate safe haven assets in response to proposed U.S. tariffs. With geopolitical and economic risks on the rise, we also expect central banks to continue their recent buying activity, lending further support to gold prices.
Visit Next Edge to learn more about the fund and read the full monthly commentary.
Sources: Veritas Asset Management, Eikon, Bloomberg as of February 28, 2025
Our Portfolio Manager, Sam LaBell, appeared on two segments on BNN Bloomberg recently to discuss potential U.S. tariffs and his top picks.
