The Millionaires’ Portfolios: Here’s What the Pros Are Buying Right Now

Millionaire (and billionaire) investors are increasingly flocking to Canadian stocks for a number of reasons. For one, Canadian stocks have remained relatively undervalued relative to their U.S. counterparts for a long time, in part due to lower growth rates stemming from a more commodity and financial-oriented market overall. Secondly, these companies are very defensive in nature, and more durable in times of stress.

So, as investment managers and hedge fund owners look to diversify into other lower-cost and more defensive markets, I think more capital could continue to flow north of the border. For those with this underlying thesis, let’s dive into three Canadian stocks that have seen strong buying from big-time investors, and why that’s the case.

Shopify

One of my top picks as a Canadian growth stock every long-term investor should at least consider, Shopify (TSX:SHOP) also happens to be a favourite among those with deep pockets.

Shares of the e-commerce platform provider have been on an absolute tear this year and look set to make new all-time highs (maybe before the end of the year). Currently, 16 billionaires are reported to hold positions in this Canadian tech giant, and that seems to be due in part to this stock’s recent momentum.

That said, I think the company’s underlying structural growth catalysts, stemming from surging e-commerce sales at the expense of brick-and-mortar retail is a trend that’s likely to continue. Those thinking truly long term may want to add some exposure on any dips (and I’ve argued that this recent dip was a buying opportunity, which it was).

Canadian Pacific Kansas City

Another top defensive stock I’ve long thought holds value as a way to provide a portfolio with ballast during times of stress is Canadian Pacific Kansas City (TSX:CP).

I’m going to just call the company Canadian Pacific, as that’s what I’ve always called it. This railroad is also among the most-owned Canadian stocks among billionaires, with 15 reported investors at this level owning the name. TCI Fund Management is among the company’s largest shareholders, with just under 55 millions shares of the railroad giant as of the end of last year.

With solid revenue growth of more than 14% in a less-than-friendly trade environment, I’d say there are solid fundamental reasons to own this stock. That goes double for those who believe in the growth story that is the North American economy for the long term.

Cameco

With uranium prices surging as a number of new projects have gotten approved in the U.S., it should be no surprise that Cameco (TSX:CCO) is also among the most-owned stocks by international investors.

Those looking for exposure to strong underlying trends in the world of reactor development have reason to own this stock. With so much power going to be needed due to the rise of data centres and AI technology, I think Cameco could be among the sneakiest (and best) ways to play this growth.

Also reporting strong revenue growth this past quarter, with absolutely incredible free cash flow growth of more than 150%, this is a stock to keep an eye on at the very least. To me, Cameco is a screaming buy here.

The post The Millionaires’ Portfolios: Here’s What the Pros Are Buying Right Now appeared first on The Motley Fool Canada.

Should you invest $1,000 in Cameco Corporation right now?

Before you buy stock in Cameco Corporation, consider this:

The Motley Fool Stock Advisor Canada analyst team identified what they believe are the 15 best stocks for investors to buy now… and Cameco Corporation wasn’t one of them. The 15 stocks that made the cut could potentially produce monster returns in the coming years.

Consider MercadoLibre, which we first recommended on January 8, 2014 … if you invested $1,000 in the “eBay of Latin America” at the time of our recommendation, you’d have $21,105.89!*

Now, it’s worth noting Stock Advisor Canada’s total average return is 95%* – a market-crushing outperformance compared to 72%* for the S&P/TSX Composite Index. Don’t miss out on our top 15 list, available when you join Stock Advisor Canada.

See the 15 Stocks #start_btn6 { background: #0e6d04 none repeat scroll 0 0; color: #fff; font-size: 1.2em; font-family: 'Montserrat', sans-serif; font-weight: 600; height: auto; line-height: 1.2em; margin: 30px 0; max-width: 350px; text-align: center; width: auto; box-shadow: 0 1px 0 rgba(0, 0, 0, 0.5), 0 1px 0 #fff inset, 0 0 2px rgba(0, 0, 0, 0.2); border-radius: 5px; } #start_btn6 a { color: #fff; display: block; padding: 20px; padding-right:1em; padding-left:1em; } #start_btn6 a:hover { background: #FFE300 none repeat scroll 0 0; color: #000; } @media (max-width: 480px) { div#start_btn6 { font-size:1.1em; max-width: 320px;} } margin_bottom_5 { margin-bottom:5px; } margin_top_10 { margin-top:10px; }

* Returns as of November 17th, 2025

More reading

• Energy and Mining Stocks Are Outshining Tech in 2025
• 3 Canadian Stocks With Bullish Catalysts Heading Into 2026
• Balance Is Everything, and These 3 TSX Stocks Are Top-Tier Picks for 2026
• 2 TSX Giants to Buy and Hold for the Next 20 Years
• Buy These 2 Stocks Now if You Think a Santa Claus Rally Is Coming for the TSX

Fool contributor Chris MacDonald has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Shopify. The Motley Fool recommends Cameco and Canadian Pacific Kansas City. The Motley Fool has a disclosure policy.