Building long-term wealth isn’t about finding a single winning stock. It’s about owning the right mix of investments for every market environment. That’s why Canadian investors should combine growth, value, and dividend stocks in the same portfolio.
Growth stocks can drive outsized capital gains during bull markets. Value stocks offer the potential for strong returns. Dividend stocks, meanwhile, provide a steady stream of income and can help cushion portfolios during periods of volatility.
Together, these three stocks could create a portfolio designed to grow wealth, generate income, and navigate changing market conditions.
Against this backdrop, here are three Canadian stocks to diversify your portfolio.
Source: Getty Images
Top growth stock: Celestica
Canadians looking for a top growth stock could consider Celestica (TSX: CLS). The company provides data centre infrastructure and advanced technology solutions and is benefiting from the artificial intelligence (AI) boom.
Surging AI infrastructure spending, new customer wins, and a rising backlog position it well to deliver solid growth in 2026 and beyond. Further, Celestica continues to see strong demand for its 800G Ethernet switching products, while the rollout of next-generation 1.6-terabit switches could provide an additional boost later this year.
The company is also expanding its presence in AI and machine-learning computing. Higher production volumes, new rack-scale computing programs, and next-generation AI platforms could create further growth opportunities as they enter large-scale production.
Although supply-chain challenges persist, improving component availability and expanded manufacturing capacity should help Celestica meet growing demand. With multiple growth drivers in place, the company appears well-positioned to deliver strong revenue and earnings growth in the years ahead, which should support its share price rally.
Top value stock: Shopify
Shopify (TSX: SHOP) is one of the best TSX stocks offering significant value near the current price levels.
Shares of the Canadian technology giant are down more than 31% year to date and trade about 40% below the 52-week high. Despite this decline, Shopify continues to deliver strong growth and remains well-positioned for a recovery.
Shopify’s first-quarter results highlighted solid gross merchandise volume (GMV) growth across merchants of all sizes, with larger businesses contributing an increasing share. This trend strengthens Shopify’s revenue base.
Growth is also accelerating in other key areas. Offline GMV rose 33% year over year, reflecting stronger adoption of Shopify’s unified commerce platform by larger retailers. Meanwhile, B2B GMV surged 80%, reflecting rising demand from business customers.
Shopify’s payments ecosystem is another bright spot, particularly in international markets, where Shop Pay continues to gain traction.
With expanding enterprise adoption, rapid growth in offline and B2B commerce, and increasing payment volumes, Shopify has several catalysts that could drive long-term growth and support a rebound in its share price.
Top dividend stock: Fortis
Fortis (TSX: FTS) is a dependable dividend stock to buy and hold. The utility company has increased its dividend for 52 consecutive years, reflecting resilience through market downturns and economic uncertainty.
It operates regulated electricity and natural gas transmission and distribution networks. Because these operations are regulated, Fortis benefits from stable revenue and predictable cash flow, largely shielding it from commodity price fluctuations and economic cycles.
This stability has enabled the company to deliver uninterrupted dividend growth for decades, making it an attractive choice for long-term income investors.
Looking ahead, Fortis has strong growth prospects. The company plans to invest about $28.8 billion to upgrade and expand its utility infrastructure. These investments should grow the regulated rate base, supporting higher earnings and future dividend increases.
Fortis may also benefit from rising electricity demand across North America. As electrification accelerates and energy consumption grows, the company is well-positioned to capitalize on expanding infrastructure needs, driving both earnings growth and long-term share price appreciation.
