Investment Q&A

Q: Peter; Any comment in the announcement of partnering with NVDA ? Thanks.
Rod

Q: If you owned BRK.B and were thinking about moving out and adding two other companies such as ATRL & WCN to a portfolio what would your thoughts be?

Q: FYI: This article (in french) might be interesting regarding the recent drop of WSP, ATRL, STN.

https://www.lapresse.ca/affaires/entreprises/2026-02-14/secousses-sur-les-marches/la-menace-de-l-ia-atteint-wsp-et-atkinsrealis.php

It assumes it could be related to the Thursday upgrade of Google Gemini 3 Deep Think .
But this upgrade could be viewed as positive rather than negative.

Denise.

Q: Do you know if the big drop is due to the multinational Defence, Security, and Resilience Bank (DSRB) announcement? Maybe the competition from engineering firms outside Canada ? ..

Q: Would you consider BDT a reasonable compliment to WSP/STN/ATRL? Of the latter 3, which would be your 2 favourites? Thanks for your response.

Q: What etf's or companies might you recommend for infrastructure that would benefit from Carney's special projects going forward?

Q: I’m looking at buying into one of ATRL, STN or WSP. I am struck by the low PE of ATRL vs the other 2 (5.6, 30.9 and 36.7 respectively).
I understand this is due to higher earnings this year from ATRL. Is this likely to continue or is it an anomaly?
Which would you buy today for a long-term hold?

Q: KKR are very bullish on Canadian infrastructure opportunities(see article in globe) can you list some Canadian companies that KKR might buy or invest in partnership with thanks Richard. ps please exclude PPL. ENB TRP and BIPC from your list

Q: Following the recent announcement of investments in infrastructure and other areas by Mark Carney, which companies are expected to benefit from these investments? is WSP one of the potential beneficiaries?

Q: Ok, let's try this again.

For the past 2+ years I've been waiting for the RBC US Midcap Fund to pop.

So a "gut" response to my first question: given the recent sell off in the markets, do you see small/midcaps popping or continuing to languish in the shadows of the AI trade? (Although it's early, in terms of seasonality the fund is doing nothing).

Second question: I'm thinking of taking all or half of this position (it's a full position for me), and picking up ATRL based on the nuclear energy/SMR theme. ATRL is up significantly in the past year. Is it fully priced at this point or does it have a lot more to grow in the next five years? Considering the the nuclear/SMR theme, would it be your top pick or do you have other companies (Canada or US) that you favour more?

Thanks in advance,
Pete, Calgary

Q: This stock has been going down. What is your view of this company and its purchase of C2AE ?
Thank you, Cheers

Q: Looks like the market doesnt like ATRL's move into new market?
Cheers, Chris

Q: What is your opinion on Atkins Realis Group and its current valuation ? This Co seems to have a stronghold in the infrastructure space globally including expertise in Nuclear reactors market. ( with all the power/energy needs around datacentres and US Admn push for nuclear energy).

We took a small initial position, with today's market pullback.

We also own WSP Global, for a while with a 3% position.

Does it make sense to own Both with an even split or just one holding is enough for this sector ? And if so, which will be your favorite and why ?

Thank You

Q: AtkinsRealis (ATRL) is increasingly focused on serving the nuclear industry. Cameco (CCO) is no longer stritcly a unranium mining company and now seeks to provide the similar services and products as ATRL (think SMRs, for example). Which company do you see as having the better prospects for growth and share price appreciation? Would it be too redundant to buy both?

Q: There appears to be a growing trend toward the building of small nuclear reactors for energy. It seems ARE and ATRL are best positioned in the segment. ARE just announced a project in the US and both are involved in the building of the reactors PM Carney announced. I know you like STN and WSP. I have a good position in WSP and have done well with the stock but I am noy sure if it is involved in this sector. Your thoughts please.

Q: Hello,
Any comments on the short report on BMNR. Supposedly the short seller had a similar view on MicroStrategy but the short aspect did not materialize. Tom Lee is well known so I am not sure to bail at this point or stick to it for longer term. Also, i was hoping to see a surge in ATRL after the announcements of the major projects but the stock hardly moved. Any comments please. Thanks very much.

Q: Any reason that you know of for today's drop in ATRl's stock price?

Q: Could you name 2 or 3 Canadian company's that have constant high buy backs on their stock this year?

Any you would consider buying?

Thank you.

Q: Hello, how would you rate in order the above 5 companies going out 2-3 years. Thanks as always.

Q: 1) For these listed firms, which ones have the strongest link to the nuclear energy field?
2) I have a fair sized holding in WSP but am eager to branch out for diversification purposes to either STN or ATRL. I see from other questions, 5i's seems to favour STN as a compliment to WSP. How strong is STN in the nuclear field (their website suggests some capability)?
With thanks.