Andrey Omelchak’s Top Picks for Aug. 31, 2026 - BNN Bloomberg

Andrey Omelchak, CEO & CIO, LionGuard Capital Management Focus: North American small and mid caps Top Picks: Magellan Aerospace, Badger Infrastructure, Black Diamond MARKET OUTLOOK: Despite persistent tariff headlines and geopolitical uncertainty, we believe the opportunity set for investors remains very attractive, with increasing amounts of capital being directed toward Canada. The key is to stay invested rather than try to time the market, while remaining selective in where capital is deployed. Two themes stand out: booming Canadian defence spending and the massive “Build Canada” investment cycle. Defence is perhaps the most exciting opportunity we see today. The government’s new Defence Industrial Strategy points to more than $500 billion of investment and economic activity through 2035, including approximately $180 billion of defence procurement and $290 billion of defence-related infrastructure. At the same time, Canada intends to increase the share of defence acquisitions awarded to Canadian companies to 70 per cent, from roughly 43 per cent, while the new Defence Investment Agency and Build–Partner–Buy framework are designed to prioritize domestic capabilities and accelerate procurement. We estimate this could increase the addressable domestic procurement opportunity by roughly 700 per cent versus the previous decade. Canada also has extraordinary wealth in energy, critical minerals and natural resources. Unlocking it requires faster approvals, fewer interprovincial barriers and major investment in power, transportation and infrastructure. Canada is finally waking up. Now we need urgency: approve projects, reduce unnecessary regulation, improve competitiveness, lower taxes and create an environment that attracts domestic and foreign capital. Rather than fighting over the existing economic pie, we should focus on making it much larger. This is a unique moment to build for generations to come. Market-moving news, fast: Get the BNN Bloomberg App now Sign up for the Market Call Top Picks newsletter at bnnbloomberg.ca/newsletters TOP PICKS: Magellan Aerospace (MAL TSX) One of our highest-conviction ideas and a direct beneficiary of a multi-year global aerospace and defence investment cycle. Canada is increasing defence spending and prioritizing domestic production, and Magellan is converting that into awards. In July it won a Government of Canada contract to establish domestic production of the M-72 Light Anti-Tank Weapon under the…