As 2026 unfolds, we are seeing some clear trends beginning to emerge. Energy prices are rising, global trade is slowing, and AI is gobbling up investor capital. These and other trends may present certain opportunities for enterprising investors in the year ahead.
That’s not to say that you should necessarily run out and invest in the latest “hot” theme, though. To the contrary, buying into such themes at their all-time highs often produces poor results. It’s by investing prudently over the long term that you get the best results. Often this involves ignoring “hot trends” and buying what has the potential to do well in both bull markets and bear markets. In this article, I will explore two stocks that have the potential to rise as 2026 continues unfolding.
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Brookfield Asset Management
Brookfield Asset Management (TSX: BAM) is a Canadian asset management company whose shares have taken a beating over the last year. There was no real “catalyst” or news event that took the shares lower. Investors appear to have been reacting to the stock’s valuation, which had gotten steep following BAM’s rise all the way to $86 back in 2025. At that level, BAM was trading at 40 times earnings. It’s not surprising that the stock has given up some of the gains since then, as 40 times earnings is a very steep valuation.
In 2026, BAM has many catalysts that could take its stock higher. These include the following:
- $100 billion worth of carry-eligible capital has been recently deployed. This money was invested over the last year. It will soon start generating fee-related income, which will likely take Brookfield Asset Management’s earnings higher than was reported last quarter.
- $79 billion worth of carry eligible capital is not yet invested. This money will likely be invested in the next year or so, providing further growth in fee-related income.
Looking at these factors side by side, it appears that Brookfield Asset Management has the potential to grow a lot in the next 12 months.
Alimentation Couche-Tard
Alimentation Couche-Tard (TSX: ATD) is another TSX stock that has been out of favour for the last few years. It hit its all-time high price of $86 way back in February of 2024. Since then, the stock has been mostly trending downward. The stock fell in price throughout 2024 and 2025. This year, it started rising, as the company makes about half its money from fuel sales. Fuel prices are rising this year due to the War in Iran and the closure of the Strait of Hormuz. This fact is lifting gasoline prices and stocks like ATD along with them.
Still, ATD probably isn’t fully valued yet. The current stock prices appear not to have fully priced in the impact of the oil price rise we’ve been seeing this year. Most oil stocks are up 50% year to date. Alimentation Couche-Tard, which is 50% an “oil stock” by earnings mix, is up only 4.5%. $185 per litre of gasoline should lift ATD’s earnings when they are reported next month. Overall, I’d be comfortable holding Alimentation Couche-Tard stock today.
