Crude Awakening: Who Gained and Who Lost

*Disseminated on behalf of Millennial Potash, Enterprise Group, Panoro Minerals, Olympia Financial, Builders Capital, Rocket Doctor AI, Global Education Communities, Renforth Resources, Nimy Resources, Chilean Cobalt, Blue Star Helium, and First Phosphate Corp.

In this edition, we review the performance of our two portfolios – FRC Top Picks and Fair Value Model Picks.

• Fair Value Model Picks: Since the portfolio’s launch on February 9, 2026, our picks are down 0.36% on average, compared with a 2.45% decline for the S&P 500. View the full list by sector.
• Top Picks: Last month, our picks gained 5.1% vs 0.3% for the TSXV, beating the benchmark in four of seven tracked periods. Visit our website to view our full list of Top Picks by sector.

Only two of the ten sectors in our Fair Value Model portfolio posted gains last week as Middle East tensions escalated, with markets bracing for a potentially prolonged conflict. Energy led the way on surging crude oil prices amid fears of supply disruptions, while Basic Materials and Industrials lagged due to rising energy costs, and concerns that sustained geopolitical instability could slow economic growth, and dampen consumer demand.

We also cover material developments by companies under our coverage, including Canadian government funding to a phosphate company, key updates from student housing and AI tech companies, and news from resource companies in critical materials such as cobalt, rare earths, nickel, and gallium.

*Past performance is not indicative of future performance.