Kim Bolton

His team has entry points for stocks, and they have price targets. They find that if you stick to the knitting, it'll prove out. Over the last 4-5 months the market has been in a band, albeit a wide one. It can drive you nuts, but it also provides some opportunities.

They stick to the knitting on single stocks, and then they have a hedge overlay to add some value/alpha to portfolios. If you look at the NASDAQ futures, they've traded in a range between 31,000 and 27,500. When they approach 31,000, you sell some futures. His team is always fully invested in the single stocks, and they try to add value by hedging. It works, until it doesn't :)

It was only 4 years ago when MSFT put $10B into OpenAI. Over those 4 years, it was all about agents and chatbots for software companies. But then everyone thought that the large language models were going to eat the lunch of the SaaS companies.

Over the last 12 months, this agentic AI (like an army of agents, rather than individual) has come to the forefront. If you can control that army to solve the puzzle or build the house or whatever, it's pretty powerful.

The Canadian AI equity story is real, but different. In the States it's all about the AI ecosystem, and sitting at the top of the hill are the hyperscalers.

In Canada, it's more of a multi-theme portfolio rather than a single AI stock or ETF. It's more about the infrastructure enablers. We don't really have hyperscalers here, but we have some fantastic enablers. Think of CLS. The poster child for industrial AI software is SHOP. We also have power and data centre beneficiaries, such as ENB, FTS, EMA, and H.

You can drill down further into space and defense AI. The first one that comes to mind is MDA.

He owns a small position. It's been floating. Its forte is photons, which don't need as much power. Yet to be fully proven. Very well financed for the next 3-4 years. Buy 1/3 here, more at $11-11.50, and then again around $10-10.5. Great runway.

Decent upside. Competes with CLS. Very healthy balance sheet, basically debt-free. Pretty robust profitability. High ROE of ~27.5%. Elevated valuation, but growth is running 25-30% a year. Really likes it.

Controls 80-85% of the manufacturing of chips around the world. Now setting up shop in the US. His 12-month price target is ~$545. Definitely buy here, but in thirds. Buy here, around $400, and ~$375 (doubts you'll see this).

Reported last night. At one point overnight, it was off only $1. Now it's off $15. His team had pared back -- not on fundamentals, but on price action. The favoured one from 2023-25, but now AMD has caught up. Management is very conservative, lowballing growth expectations.

Strong profitability. Valuation high. Buy some here, more ~$340, and then $330. Probably won't get it lower than $320. Loves management and fundamentals, but price action is awkward and you have to pay attention. His firm has ~3-3.5% position.

This one, but don't put all your eggs in the one basket. It just has so many horses in the race. About 75% of revenue comes from advertising. Cloud business generates a whole lot of money. Very strong with Gemini, and now agentic AI has come out. Robust short-term liquidity. Current and quick ratios are well above 1. Low debt-to-equity. ROE of 38.1%. PE is ~17x.

The #1 holding in his fund. His 12-month price target is $428. Buy some here, more around support at $320. Shouldn't go under $300.

Likes it, but he's selling calls on it now because price is up at the top of its range.

You could buy this one if you're brave. Lots of hidden value.

He always gets a lot of criticism for it, but you could add this name. Going to do very well. Cybertruck is coming out tonight. Autonomous vehicles, Optimus robots.

In the quantum space, best to diversify and spread your risk. They all have different business models, and they're not all going to win. He owns a few different names. Definitely don't hold more than 5% within your portfolio; perhaps between 3-5%, and leg into them. Respect the price targets.

In the quantum space, best to diversify and spread your risk. They all have different business models, and they're not all going to win. He owns a few different names. Definitely don't hold more than 5% within your portfolio; perhaps between 3-5%, and leg into them. Respect the price targets.

In the quantum space, best to diversify and spread your risk. They all have different business models, and they're not all going to win. He owns a few different names. Definitely don't hold more than 5% within your portfolio; perhaps between 3-5%, and leg into them. Respect the price targets.