Diversified Financials
Diversified financials — alternative-asset managers, holding companies and specialty lenders — are judged less on a lending balance sheet and more on fee-related and distributable earnings, book value and return on equity. We watch fee-bearing capital, the durability of earnings, leverage and how capital is returned or reinvested.
Reports in Diversified Financials
Propel Holdings
A fast-growing fintech consumer lender using AI-driven underwriting to serve near-prime and non-prime borrowers across multiple markets.
Fiera Capital
A global multi-strategy asset manager offering a very high dividend yield that the market appears to view as risky relative to its thin reported earnings.
Sprott
A specialized precious-metals and critical-materials asset manager that has ridden strong gold and physical-commodity demand to premium profitability.
AGF Management
A long-established Canadian mutual-fund and asset manager, diversified across retail funds, institutional mandates, and alternatives, trading at a low earnings multiple.
ECN Capital
A specialty-finance originator that partners with banks and credit unions to source and manage consumer loan and lease portfolios, with currently thin reported earnings.
Canaccord Genuity Group
An independent investment bank and wealth manager whose capital-markets earnings swing hard with deal activity, but whose growing wealth arm adds ballast.
Brookfield Corporation
A global owner-operator and alternative-asset compounder whose value sits in its 73% stake in Brookfield Asset Management, a wealth-solutions insurer, and a carried-interest-rich operating portfolio.
Brookfield Asset Management
A pure-play, capital-light global alternative-asset manager earning recurring fees on over US$1 trillion of assets under management.
Brookfield Infrastructure Partners
A globally diversified owner of critical, largely inflation-linked infrastructure — utilities, transport, midstream and fast-growing data assets — that funds a rising distribution from stable FFO.
Power Corporation of Canada
A family-controlled Canadian holding company whose value comes chiefly from controlling stakes in insurer Great-West Lifeco and wealth manager IGM Financial, plus alternative-asset and venture holdings.
IGM Financial
Canada's largest independent wealth and asset manager, riding record client flows and a Wealthsimple stake to all-time-high adjusted earnings.
Onex Corporation
A private-equity and credit manager trading roughly a third below its own investing capital per share, now building an insurance flywheel with AIG and Convex.
TMX Group
The near-monopoly operator of Canada's stock and derivatives exchanges, compounding through recurring data/analytics revenue and global expansion.
Element Fleet Management
The world's largest pure-play commercial fleet manager — a capital-light services compounder growing net revenue at a steady mid-teens pace.
goeasy
Canada's largest non-prime consumer lender, whose shares fell roughly 70% after a large Q4 2025 credit charge pushed it into a trailing-twelve-month loss.