The Tax-Free Savings Account (TFSA) contribution room is going to remain $7,000 — unchanged from 2025 and 2024. While nothing about that number feels new, these yearly savings can quietly compound into something meaningful when invested with patience. So now the question is not how much you can contribute, but where you should invest it. Fortunately, you don’t need to look elsewhere as Canadian markets still offer solid businesses with global reach, dependable cash flows, and room to grow. In this article, I’ll highlight two top Canadian stocks to buy in 2026 that could make your TFSA work harder over time.
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Nutrien stock
Speaking of top Canadian stocks to buy in 2026, let’s start with Nutrien (TSX: NTR), a company linked directly to global food demand. If you don’t know it already, it’s one of the world’s largest crop nutrient platforms, with major exposure to potash production in Saskatchewan.
NTR stock recently traded around $95 per share, giving it a market cap of roughly $46 billion. It also pays an annualized dividend yield of about 3.2%, which can add steady income inside your TFSA. Interestingly, the stock has jumped about 29% over the last year.
NTR stock’s strong performance has mainly been supported by the improving fundamentals in the potash market. This is one of the key reasons that encouraged the company to raise its 2025 sales guidance, suggesting improvement over 2024. This increase reflects recovering demand after farmers delayed applications during the earlier period of elevated prices.
Financially, Nutrien’s improved shipment volumes are continuing to drive its revenue higher. The company is also maintaining cost discipline across operations, which is supporting its margins even as fertilizer pricing remains volatile.
Looking ahead to 2026, Nutrien continues to focus on incremental capacity optimization at its existing mines and expanding its agricultural retail network. These initiatives could support the company’s stable cash flow generation, positioning it as a strong long-term buy in 2026.
Canadian National Railway stock
Now, let’s move on to Canadian National Railway (TSX: CNR), a TSX-listed company that keeps goods moving across North America. The company runs a large freight rail network spanning Canada and parts of the U.S., transporting grain, energy products, and consumer goods every day.
CNR stock currently trades near $138 per share, giving it a market capitalization of about $85 billion. At this market price, it also pays an annualized dividend yield of roughly 2.6%.
In the third quarter of 2025, Canadian National’s revenue improved slightly on a YoY (year-over-year) basis to $4.2 billion. At the same time, its operating income increased 6% YoY to $1.6 billion. Despite difficult economic conditions, the company’s operating ratio improved to 61.4%, showing better cost control and efficiency even with small revenue growth.
Meanwhile, Canadian National Railway continues to make progress on the Iowa Northern Railway Company transaction, which is likely to strengthen its network and support future freight growth. Overall, stable earnings growth, improving efficiency, and targeted network expansion clearly explain why CNR remains among the top Canadian stocks to buy in 2026.
