Thank you for an incredible first year of In the Money from Amber Kanwar! We reveal our best performing fund manager by highest average total return: Dan Lewis of Orange Capital with a total return of 186%. And because I never like to leave you without money making ideas, Dan reveals his TWO best ideas for 2026. Dan’s concentrated bets on “orphaned” stocks crushed it in 2025, with his pro picks averaging massive gains (led by a near-350% rocket in one name). True to his distressed investing style, Dan hunts for high-conviction opportunities where the market has over-discounted fundamentals.
Watch the full holiday special here
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Here are Dan’s next two top stock ideas heading into 2026:
Accelerant Holdings (ARX)
- Why it has underperformed: Botched IPO messaging positioned it as a hyped “tech data lake” play, leading to a post-IPO pop followed by a sharp pullback below IPO price amid analyst concerns over carrier structure and perceived risks.
- What the market is missing: It’s actually a fast-growing, largely fee-based risk exchange platform matching specialty underwriters with capital – a flywheel business growing 25-30% annually with minimal balance sheet risk (~6% retained).
- Why it’s a good investment: Trading at single-digit EV/EBITDA multiples implying no growth, despite strong execution; baseline guidance alone could drive 50%+ upside, with potential to compound as it captures share in fragmented specialty insurance.
Wix.com (WIX)
- Why it has underperformed: Down ~50% in 2025 on fears of AI disruption (e.g., “vibe coding” making traditional website builders obsolete) and short-term margin pressure from aggressive investments.
- What the market is missing: Core Wix margins are rising thanks to AI productivity gains; the perceived “hit” comes from smart marketing/compute spend on acquired vibe-coding startup Base44, which exploded from ~$3M to $50M ARR (on track for $100M).
- Why it’s a good investment: Distribution moat remains key – Wix is leveraging its massive user base to dominate vibe-coding share; temporary margin dip to fuel accelerating growth is a classic “fantastic reason” for estimate cuts in a hedge fund-heavy name, setting up for re-rating at ~15x earnings.
Below is the full table of Pro Picks from each of our guests with total return from the day they picked it through to December 4, 2025. This isn’t a perfect way of benchmarking performance, but serves as a snapshot of performance.
| Name | Date | Stocks | Return | Average |
|---|---|---|---|---|
| Eric Jackson | 14-Jan-25 | Peloton | -25% | |
| Eric Jackson | 14-Jan-25 | BTQ Technologies | 167% | |
| Eric Jackson | 14-Jan-25 | Rigetti | 232% | 125% |
| Rick Rule | 16-Jan-25 | Tourmaline | 1% | |
| Rick Rule | 16-Jan-25 | Arc Resources | 2% | |
| Rick Rule | 16-Jan-25 | Peyto | 48% | 17% |
| Eric Nuttall | 21-Jan-25 | Veren | 17% | Takeover |
| Eric Nuttall | 21-Jan-25 | MEG | 30% | Takeover |
| Eric Nuttall | 21-Jan-25 | Athabasca | 47% | 31% |
| John Zechner | 24-Jan-25 | Suncor | 15% | |
| John Zechner | 24-Jan-25 | Uber | 34% | |
| John Zechner | 24-Jan-25 | Maple Leaf Foods | 36% | 28% |
| Ivana Delevska | 28-Jan-25 | Marvell | -5% | |
| Ivana Delevska | 28-Jan-25 | Constellation Energy | 33% | |
| Ivana Delevska | 28-Jan-25 | Nvidia | 42% | 23% |
| Marc Sebastian | 30-Jan-25 | Amazon | -2% | |
| Marc Sebastian | 30-Jan-25 | 12% | ||
| Marc Sebastian | 30-Jan-25 | Boeing | 12% | 7% |
| Barry Schwartz | 4-Feb-25 | Meta | -6% | |
| Barry Schwartz | 4-Feb-25 | Microsoft | 17% | |
| Barry Schwartz | 4-Feb-25 | Apple | 21% | 11% |
| Martin Pelletier | 6-Feb-25 | sell suncor, buy us structured energy note | 8% | |
| Martin Pelletier | 6-Feb-25 | sell spx buy vtv | -5% | |
| Martin Pelletier | 6-Feb-25 | buy usd vs cad | -3% | 0% |
| Matt Hougan | 11-Feb-25 | BITB | -3% | |
| Matt Hougan | 11-Feb-25 | BITW | 8% | |
| Matt Hougan | 11-Feb-25 | BITQ | 35% | 13% |
| Ross Gerber | 13-Feb-25 | Netflix | -1% | |
| Ross Gerber | 13-Feb-25 | Walmart | 10% | |
| Ross Gerber | 13-Feb-25 | Eli Lilly | 17% | 9% |
| Evan Mancer | 18-Feb-25 | CP Rail | -8% | |
| Evan Mancer | 18-Feb-25 | United Rentals | 13% | |
| Evan Mancer | 18-Feb-25 | Applied Materials | 58% | 21% |
| Jamie Murray | 20-Feb-25 | Starbucks | -23% | |
| Jamie Murray | 20-Feb-25 | 3i Group | -21% | |
| Jamie Murray | 20-Feb-25 | Broadcom | 69% | 8% |
| Justus Parmar | 25-Feb-25 | Tesla | 50% | |
| Justus Parmar | 25-Feb-25 | Rocket Lab | 143% | |
| Justus Parmar | 25-Feb-25 | Uranium Energy Corp | 162% | 118% |
| Dean Orrico | 27-Feb-25 | Canadian Apartment REIT | 0% | |
| Dean Orrico | 27-Feb-25 | RioCan REIT | 2% | |
| Dean Orrico | 27-Feb-25 | Granite REIT | 19% | 7% |
| Paul Harris | 4-Mar-25 | Stryker | -5% | |
| Paul Harris | 4-Mar-25 | Canadian Natural Resources | 26% | |
| Paul Harris | 4-Mar-25 | Alphabet | 76% | 32% |
| David Burrows | 6-Mar-25 | Fairfax | 18% | |
| David Burrows | 6-Mar-25 | JP Morgan | 23% | |
| David Burrows | 6-Mar-25 | Agnico Eagle | 62% | 34% |
| Jordan McNamee | 13-Mar-25 | HelloFresh | -34% | |
| Jordan McNamee | 13-Mar-25 | Carvana | 86% | |
| Jordan McNamee | 13-Mar-25 | ThredUp | 218% | 90% |
| Cole Smead | 18-Mar-25 | MEG Energy | 27% | |
| Cole Smead | 18-Mar-25 | Cenovus | 32% | |
| Cole Smead | 18-Mar-25 | Strathcona | 56% | 38% |
| James Cook | 20-Mar-25 | Fortinet | -13% | |
| James Cook | 20-Mar-25 | S&P Global | 0% | |
| James Cook | 20-Mar-25 | Mastercard | 2% | -4% |
| Rebecca Teltscher | 25-Mar-25 | AltaGas | 10% | |
| Rebecca Teltscher | 25-Mar-25 | Canadian Natural Resources | 11% | |
| Rebecca Teltscher | 25-Mar-25 | Premium Brands | 24% | 15% |
| Jordan Zinberg | 27-Mar-25 | Mainstreet Equity | -2% | |
| Jordan Zinberg | 27-Mar-25 | Propel Holdings | 17% | |
| Jordan Zinberg | 27-Mar-25 | Source Energy Services | 38% | 18% |
| Dan Rohinton | 1-Apr-25 | Amazon | 19% | |
| Dan Rohinton | 1-Apr-25 | Microsoft | 26% | |
| Dan Rohinton | 1-Apr-25 | Alphabet | 103% | 49% |
| Daniel Dreyfus | 3-Apr-25 | Cheniere Energy | -5% | |
| Daniel Dreyfus | 3-Apr-25 | Ivanhoe Mines | 29% | |
| Daniel Dreyfus | 3-Apr-25 | Talen Energy | 100% | 41% |
| Jeannine LiChong | 8-Apr-25 | Intact Financial | 2% | |
| Jeannine LiChong | 8-Apr-25 | Loblaw | 26% | |
| Jeannine LiChong | 8-Apr-25 | Dollarama | 34% | 21% |
| Darcy Morris | 10-Apr-25 | First Capital | 23% | |
| Darcy Morris | 10-Apr-25 | Parkland | 32% | Takeover |
| Darcy Morris | 10-Apr-25 | Latham Group | 43% | 33% |
| James Davolos | 15-Apr-25 | Aris Water Solutions | -2% | Takeover |
| James Davolos | 15-Apr-25 | TMX Group | 1% | |
| James Davolos | 15-Apr-25 | Prairie Sky | 21% | 7% |
| Robert Moffat | 17-Apr-25 | Abbott Labs | -3% | |
| Robert Moffat | 17-Apr-25 | McKesson | 17% | |
| Robert Moffat | 17-Apr-25 | Eli Lilly | 21% | 12% |
| Liz Miller | 22-Apr-25 | Carlisle Companies | -8% | |
| Liz Miller | 22-Apr-25 | GE Healthcare | 34% | |
| Liz Miller | 22-Apr-25 | Evercore | 80% | 35% |
| Garey Aitken | 24-Apr-25 | Canadian National Railway | 3% | |
| Garey Aitken | 24-Apr-25 | Fortis | 9% | |
| Garey Aitken | 24-Apr-25 | Canadian Natural Resources | 21% | 11% |
| Moez Kassam | 29-Apr-25 | Vistry Group | 3% | |
| Moez Kassam | 29-Apr-25 | InterRent | 23% | Takeover |
| Moez Kassam | 29-Apr-25 | Gildan | 37% | 21% |
| Eric Nuttall | 1-May-25 | Arc Resources | 6% | |
| Eric Nuttall | 1-May-25 | NuVista | 60% | Takeover |
| Eric Nuttall | 1-May-25 | Expand Energy | 21% | 29% |
| Meb Faber | 6-May-25 | TRTY | 13% | |
| Meb Faber | 6-May-25 | SYLD | 16% | |
| Meb Faber | 6-May-25 | GVAL | 24% | 18% |
| Mike Vinokur | 8-May-25 | Air Lease | 20% | |
| Mike Vinokur | 8-May-25 | Lincoln National | 31% | |
| Mike Vinokur | 8-May-25 | Alphabet | 106% | 52% |
| Dan Niles | 13-May-25 | Microsoft | 8% | |
| Dan Niles | 13-May-25 | Cisco | 27% | |
| Dan Niles | 13-May-25 | Cash | ||
| Richard Fogler | 20-May-25 | Uber | 0% | |
| Richard Fogler | 20-May-25 | SmartCentres REIT | 3% | |
| Richard Fogler | 20-May-25 | Brookfield | 19% | 7% |
| David Barr | 22-May-25 | Dye & Durham | -70% | |
| David Barr | 22-May-25 | TerraVest | 22% | |
| David Barr | 22-May-25 | Kraken Robotics | 146% | 33% |
| Dennis Mitchell | 27-May-25 | Killam Apartment | -14% | |
| Dennis Mitchell | 27-May-25 | VICI Properties | -9% | |
| Dennis Mitchell | 27-May-25 | Chartwell Retirement | 11% | -4% |
| Stan Wong | 29-May-25 | MercadoLibre | -16% | |
| Stan Wong | 29-May-25 | Netflix | -13% | |
| Stan Wong | 29-May-25 | Dollarama | 14% | -5% |
| Josh Young | 3-Jun-25 | Vital Energy | 8% | |
| Josh Young | 3-Jun-25 | Ensign Energy | 18% | |
| Josh Young | 3-Jun-25 | Journey Energy | 114% | 47% |
| Dan Lewis | 5-Jun-25 | Hippo Holdings | 22% | |
| Dan Lewis | 5-Jun-25 | Claros Mortgage | 24% | |
| Dan Lewis | 5-Jun-25 | Better Home & Finance | 348% | 186% |
| Ross Healy | 10-Jun-25 | ATCO | 8% | |
| Ross Healy | 10-Jun-25 | Laurentian Bank | 37% | Takeover |
| Ross Healy | 10-Jun-25 | Fortuna Mining | 35% | 36% |
| Cole Smead | 12-Jun-25 | Cenovus | 33% | |
| Cole Smead | 12-Jun-25 | Glencore | 35% | |
| Cole Smead | 12-Jun-25 | Strathcona | 35% | 35% |
| Peter Hofstra | 17-Jun-25 | ServiceNow | -16% | |
| Peter Hofstra | 17-Jun-25 | Microsoft | 1% | |
| Peter Hofstra | 17-Jun-25 | Thermo Fisher Scientific | 48% | 25% |
| Noah Solomon | 24-Jun-25 | Empire | -9% | |
| Noah Solomon | 24-Jun-25 | Capital Power | 12% | |
| Noah Solomon | 24-Jun-25 | Wheaton Precious Metals | 25% | 19% |
| JoAnne Feeney | 26-Jun-25 | Quest Diagnostics | 5% | |
| JoAnne Feeney | 26-Jun-25 | TJX Companies | 24% | |
| JoAnne Feeney | 26-Jun-25 | Broadcom | 41% | 23% |
| John Ewing | 1-Jul-25 | Driven Brands | -14% | |
| John Ewing | 1-Jul-25 | Minto | -5% | |
| John Ewing | 1-Jul-25 | Latham Group | 3% | -5% |
| Bob Thompson | 8-Jul-25 | NNRG | 20% | |
| Bob Thompson | 8-Jul-25 | DXMO | 40% | |
| Bob Thompson | 8-Jul-25 | SLVR | 68% | 43% |
| Gordon Reid | 15-Jul-25 | Jackson Financial | 18% | |
| Gordon Reid | 15-Jul-25 | Goldman Sachs | 20% | |
| Gordon Reid | 15-Jul-25 | Morgan Stanley | 25% | 21% |
| JF Tardif | 22-Jul-25 | H&R Reit | -13% | |
| JF Tardif | 22-Jul-25 | Calian Group | 11% | |
| JF Tardif | 22-Jul-25 | Total Energy | 35% | 11% |
| Mike McCloskey | 24-Jul-25 | Fiserv | -53% | |
| Mike McCloskey | 24-Jul-25 | Automated Bank Services (SHVA) | -11% | |
| Mike McCloskey | 24-Jul-25 | ICON plc | 18% | -15% |
| Seth Allen | 29-Jul-25 | Intact Financial | -9% | |
| Seth Allen | 29-Jul-25 | Uber | 4% | |
| Seth Allen | 29-Jul-25 | EQT Corp | 14% | 3% |
| Michael Missaghie | 31-Jul-25 | BSR REIT | -5% | |
| Michael Missaghie | 31-Jul-25 | Chartwell Retirement | 13% | |
| Michael Missaghie | 31-Jul-25 | Brookdale | 37% | 15% |
| Larry Mcdonald | 9-Sep-25 | Short Nvidia | -7% | |
| Larry Mcdonald | 9-Sep-25 | FCG | 10% | |
| Larry Mcdonald | 9-Sep-25 | COAL Etf | 12% | 5% |
| Kim Shannon | 16-Sep-25 | Cenovus | 6% | |
| Kim Shannon | 16-Sep-25 | Bank of Nova Scotia | 12% | |
| Kim Shannon | 16-Sep-25 | Barrick | 44% | 21% |
| Katie Stockton | 18-Sep-25 | Blackstone | -19% | |
| Katie Stockton | 18-Sep-25 | Visa (sell) | 3% | |
| Katie Stockton | 18-Sep-25 | Apple | 18% | 1% |
| Jeff Olin | 23-Sep-25 | First Capital | -3% | |
| Jeff Olin | 23-Sep-25 | DREAM Industrial | -2% | |
| Jeff Olin | 23-Sep-25 | Chartwell Retirement | 4% | 0% |
| Rick Rule | 25-Sep-25 | EMX Royalty | -10% | |
| Rick Rule | 25-Sep-25 | ExxonMobil | 2% | |
| Rick Rule | 25-Sep-25 | Sprott | 17% | 3% |
| Eric Jackson | 30-Sep-25 | Better Home & Finance | -11% | |
| Eric Jackson | 30-Sep-25 | OpenDoor | -5% | |
| Eric Jackson | 30-Sep-25 | Iren Energy | -1% | |
| Eric Jackson | 30-Sep-25 | Cipher Mining | 57% | 10% |
| Lyle Stein | 2-Oct-25 | Sprott | 10% | |
| Lyle Stein | 2-Oct-25 | First Majestic | 25% | |
| Lyle Stein | 2-Oct-25 | Peyto | 25% | 20% |
| Laura Lau | 7-Oct-25 | BAE Systems | -15% | |
| Laura Lau | 7-Oct-25 | Citi | 11% | |
| Laura Lau | 7-Oct-25 | Broadcom | 13% | 3% |
| Josh Brown | 9-Oct-25 | Uber | -5% | |
| Josh Brown | 9-Oct-25 | Toast | -4% | |
| Josh Brown | 9-Oct-25 | Amazon | 1% | |
| Josh Brown | 9-Oct-25 | Rocket Companies | 19% | 3% |
| Nick Griffin | 16-Oct-25 | Contemporary Amperex | -10% | |
| Nick Griffin | 16-Oct-25 | Nvidia | 1% | |
| Nick Griffin | 16-Oct-25 | TKO Group | 7% | -1% |
| Craig White | 21-Oct-25 | Nike | -3% | |
| Craig White | 21-Oct-25 | Tourmaline | 6% | |
| Craig White | 21-Oct-25 | Intact Financial | 7% | 3% |
| Ryan Bushell | 23-Oct-25 | Pembina | 3% | |
| Ryan Bushell | 23-Oct-25 | Arc Resources | 3% | |
| Ryan Bushell | 23-Oct-25 | Brookfield Infrastructure | 6% | 4% |
| Rob Lauzon | 28-Oct-25 | Canadian Apartment REIT | -5% | |
| Rob Lauzon | 28-Oct-25 | Tourmaline | 5% | |
| Rob Lauzon | 28-Oct-25 | Western Alliance | 9% | 3% |
| Kelsey Dunwoodie | 4-Nov-25 | Denison Mines | 3% | |
| Kelsey Dunwoodie | 4-Nov-25 | Champion Iron | 12% | |
| Kelsey Dunwoodie | 4-Nov-25 | Paramount | 14% | 10% |
| Jay Hatfield | 6-Nov-25 | Amazon | -6% | |
| Jay Hatfield | 6-Nov-25 | Marvell | 5% | |
| Jay Hatfield | 6-Nov-25 | Apollo | 6% | |
| Jay Hatfield | 6-Nov-25 | KKR | 8% | 3% |
| Shane Obata | 13-Nov-25 | Alibaba | -2% | |
| Shane Obata | 13-Nov-25 | Samsung | 2% | |
| Shane Obata | 13-Nov-25 | Take-Two Interactive | 4% | 2% |
| David Szybunka | 18-Nov-25 | Prairie Sky | 4% | |
| David Szybunka | 18-Nov-25 | Tourmaline | 5% | |
| David Szybunka | 18-Nov-25 | Topaz | 6% | |
| David Szybunka | 18-Nov-25 | Headwater | 11% | |
| David Szybunka | 18-Nov-25 | Tamarack | 12% | |
| David Szybunka | 18-Nov-25 | CES Energy Solutions | 13% | 9% |
| Jordan Zinberg | 20-Nov-25 | Zoomd | -21% | |
| Jordan Zinberg | 20-Nov-25 | Lumine | 13% | |
| Jordan Zinberg | 20-Nov-25 | Propel Holdings | 33% | 8% |
| Barry Schwartz | 2-Dec-25 | Couche Tard | 0% | |
| Barry Schwartz | 2-Dec-25 | Restaurant Brands | 1% | |
| Barry Schwartz | 2-Dec-25 | TFI | 6% | 2% |
| GROUP AVERAGE | 21% |
Don’t miss our next episode! Our first in a three-part series on alternative investing guest hosted by Paige Ellis. She interviews trillion dollar fund manager Mario Gianinni at Hamilton Lane about the role private investments should play in your portfolio.
DISCLAIMERS: This text AI generated, human edited. The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice. The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.
