Hot Stocks: Canada’s Top Performers in Q2 2026

Of course, BlackBerry isn’t any longer within the cellular phone business. The company develops software for cars and mobile security and has a growing artificial intelligence (AI) business in partnership with chipmakers reminiscent of Nvidia Corp., which partly explains its newfound appeal to investors. The company reported better-than-expected fourth-quarter 2026 leads to April and last week again beat analyst estimates for the primary quarter of fiscal 2027, resulting in a rosy forecast for the remaining of the 12 months. It was BlackBerry’s fifth consecutive profitable quarter.

The S&P/TSX Composite also posted its eighth consecutive quarter of gains within the second quarter of 2026, the stock index’s longest winning streak in three many years. Canada’s leading index rose 6.37% on a price basis and 6.96% on a complete return basis, including dividends, over the three-month period.

But south of the border, market returns have been even higher. The S&P 500 index within the US improved on its modest begin to the 12 months, with a price return of 14.87% since March 31 and a complete return of 15.2% (in USD). If you held an unhedged S&P 500 index fund, your return in Canadian dollars could be about 17%.

Another standout Canadian refill 209% within the second quarter was Keel Infrastructure, formerly often known as Bitfarms and now headquartered in New York City. The company has seemingly come out of nowhere to a market cap of $5.7 billion. Keel is constructing data centers and associated energy infrastructure within the US and Canada, which have high demand for AI. Last week, Keel was added to the Russell 3000 index of small-cap stocks.

The third top performer amongst mid- to large-sized Canadian firms was Hut 8 Corp. with a rise of just about 160% within the second quarter. Markets have supported the Miami-based company’s pivot from cryptocurrency mining to digital and energy infrastructure. Revenue greater than tripled last 12 months, but cautious investors might be aware of the corporate’s ongoing losses.

Unlike the primary quarter, when energy firms dominated the list of top performers, there was no clear sectoral bias towards standouts within the second quarter beyond the AI ​​theme in the highest three. The top 10 top-performing stocks with market capitalizations of $2 billion or more come from the technology, industrials, materials, healthcare and consumer discretionary sectors.

Here are the mid- to large-cap Canadian stocks that performed best within the second quarter of 2026:

There was no overlap between this quarter’s top 10 and the previous quarter’s leaders. This shows that while momentum is a proven consider stock investing, past performance just isn’t an indicator of future returns.

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About Michael McCullough

Michael is a financial journalist and editor based in Duncan, BC. He is the previous editor-in-chief of Canadian Business and editorial director of Canada Wide Media. He also writes for The Globe and Mail and BCBusiness.