With less than a month left in 2025, it makes sense that many savvy investors are already thinking about how to position their portfolios and what top Canadian stocks to buy for 2026.
Naturally, most investors take a look at their portfolio at the end of the year, but this year it might be more important than ever.
There has been a ton of divergence in stocks throughout 2025, and a lot has happened, from trade wars to lower interest rates to entire sectors rallying like materials while others lag behind.
And while most TSX stocks, especially the highest-quality names, now trade at fair value or in some cases well above fair value, there are still a handful of reliable businesses that you can buy today at a compelling valuation.
So, if you’re looking for top Canadian stocks you can buy undervalued now and hold through 2026 and beyond, here are five ideal picks to own for the long haul.
Two top real estate stocks to buy in 2026 and hold for years
There’s no question that some of the best and most reliable, but also most affordable stocks that Canadian investors can buy in 2026 are high-quality real estate investment trusts (REITs).
For example, two of the best picks for investors today are Canadian Apartment Properties REIT (TSX:CAR.UN) and Granite REIT (TSX:GRT.UN).
In fact, Canadian Apartment Properties (CAPREIT) might be the cheapest high-quality stock on the TSX. The massive $5.6 billion REIT, which owns residential properties all across Canada, has already been trading undervalued as higher interest rates impacted its operations over the last few years.
And now, with weaker near-term fundamentals, tax-loss selling, and being removed from the TSX 60, CAPREIT is basically trading the cheapest it has ever been.
In fact, right now CAPREIT trades at a forward price-to-funds-from-operations (P/FFO) ratio of just 13.9 times. That’s the cheapest it’s been in more than 10 years, and well below its five and 10-year average forward P/FFO ratios of 19.5 times and 19.9 times, respectively.
Furthermore, its forward yield is currently sitting at 4.4%, which is also well above its five- and 10-year average forward yields of 3.1% and 3.3%.
Finally, in November alone, the REIT repurchased 1.4% of its outstanding shares, showing not just how undervalued management sees CAPREIT currently, but also how much financial flexibility it has even in the current environment.
So, if there was one stock that I’d recommend every Canadian investor add to their buy list for 2026, CAPREIT is undoubtedly a top choice.
Granite, on the other hand, is not as cheap as CAPREIT, but considering its quality, its long-term growth potential and the fact that it’s trading down roughly 30% from its all-time high, it’s one you can’t ignore either.
Not to mention, Granite also offers a current yield of more than 4.4% and pays out less than 70% of its adjusted funds from operations, showing the dividend is incredibly safe.
So, if you’re looking for a reliable stock you can buy in 2026 and have confidence holding for years to come, Granite is an excellent choice.
Three top growth stocks trading ultra-cheap
In addition to Granite and CAPREIT, three more top stocks for Canadians to add to their buy lists ahead of 2026 are WELL Health Technologies (TSX:WELL), Cargojet (TSX:CJT), and goeasy (TSX:GSY).
WELL Health has a ton of growth potential as it continues to expand its clinic network and grow revenue at an impressive pace, yet the stock is still trading near its 52-week lows.
Therefore, while this impressive growth stock, which operates in a defensive industry, continues to trade undervalued, there’s no question it’s one of the top stocks to buy heading into 2026.
Meanwhile, Cargojet is another high-potential growth stock trading ultra-cheap in the current environment, but that unbelievable discount won’t last forever. As e-commerce volumes recover and demand stabilizes, Cargojet’s strong market position should help earnings rebound rapidly, making now the time to buy the top stock even before 2026.
Finally, goeasy is trading ultra-cheap now after a short-seller report and a slight earnings miss in recent weeks, but the core business is still growing double digits with solid loan demand. So, with the stock now trading at one of the lowest valuations it has seen in years, it’s unquestionably one of the best opportunities Canadian investors have today.
