Our Mission is to Seek the Truth from the Facts
Veritas is Canada's Leading
Independent Equity Research Firm
Empowering Investors for 25 Years
Darryl McCoubrey, Vice President, Partner, Utilities & Infrastructure Analyst, and Dimitry Khmelnitsky, Vice President, Partner, Head of Accounting & Special Situations
We Outperform
Our recommendations to Buy stocks have outperformed the S&P/TSX Composite by more than 250 basis points, while the Sell recommendations have underperformed by more than 500 basis points since March 1999.
Find out more about our Track Record.
We Are Independent
We provide investment research you can trust. We do not have investment banking or trading revenue or biases. That means we are only paid by the clients who read our research or receive our training. We call it the Veritas Way.
Find out more about our Investment Approach.
We Stand Up For Investors
We are the voice of investors and study accounting like no other. We have served on national and international accounting standards and regulatory advisory boards, taught at business schools and regularly are cited by major media outlets.
Find out more about Our Team.
We have many subscription options appropriate for all types of investors.
Contact our Sales Team to discuss your equity research needs. Contact Sales
Careers
We're Hiring!
As a Communications and Marketing Specialist, you will help edit newsletters, develop external marketing efforts, manage social media accounts and develop content marketing.
You will support the development and execution of targeted marketing initiatives across the three Veritas businesses (Veritas Investment Research, Veritas Asset Management Inc. and the Veritas Foundation).
Join a team that thrives on collaboration, knowledge-sharing and independent thought.
21-Year Track Record
V-List Model Portfolio
What is the V-List?
We started our V-List model portfolio more than 21 years ago and it has now outperformed the S&P/TSX Composite Index by 278 basis points (as of May 31, 2026, from inception on October 31, 2004).
The V-List is a concentrated portfolio of 12 to 25 companies recommended by our analysts as the best investment opportunities drawn from our firm's research.
Stocks are selected based on their liquidity, lower volatility, and potential for long-term capital appreciation. Bottom-up fundamental analysis and a strict review of accounting and disclosure practices identify companies with defensible competitive advantages and the ability to generate meaningful cash flow.
V-List Model Portfolio vs S&P/TSX Index Since 2004 Inception
The V-List, along with our bi-annual dividend report, is available to subscribers of our Base Subscription.
Returns greater than 1 year are presented as compound annual growth rates. *V-List inception October 30, 2004.
Podcast
Canada’s Condo Crash Just Got Dark...
Our President and CEO, Anthony Scilipoti, was a guest on Ron Butler's Angry Mortgage podcast, discussing our latest condo mystery shop in Vancouver, government bailouts for developers, and condo vulture funds. Ron is a staple guest speaker at our annual real estate conferences.
If you're also wondering what a condo mystery shop is, we started them 14 years ago. The premise was that the Toronto condo market was starting to take off, and we wanted to know why. Anthony took a group of clients to visit a number of condo developments and went through the full process of buying a condo, only to give it back before the 10-day cooling-off period.
It was on-the-ground research that we couldn't get from a real estate board report or Statistics Canada. Over the years, we started adding speakers after the mystery shop, then panels, and pretty soon, we had a full-day real estate conference (the next one is in October). Looking back over the years, these mystery shops became more and more like visits to nightclubs or fashion shows. The hype kept growing, and nowhere was it more surreal than Vancouver.
January 20, 2026
Veritas Accounting Scholarship
Our President and CEO, Anthony Scilipoti, was a guest lecturer in three introductory accounting classes at York University this week to promote our Veritas Accounting Scholarship Award, which we've launched to support the next generation of outstanding accountants.
Congratulations to the inaugural recipients from the 2024-2025 semester, Matteo Morettin (BBA'27) and Polina Povorozniuk (BBA'27), who are recognized for achieving the highest marks in their class.
June 5, 2026
'The U.S. is attracting all the copper and raising the price for copper worldwide': Pradier
Our Materials Analyst, Martin Pradier, was a guest on BNN Bloomberg to discuss why copper has been rising and what mining stocks he favours currently.
Copper has been rising because of stockpiling ahead of a potential increase in U.S. tariffs on copper imports. "There is now a big price differential between the copper price in New York and the copper price in London. The U.S. is attracting all the copper and raising the price for copper worldwide. The inventory around the world is increasing, especially in the U.S."
Martin also discussed his top picks in gold and copper stocks.
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Bank of Montreal - Financials
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Saputo Inc. - Consumer Staples
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Teck Resources Ltd. - Materials
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Lumine Group Inc. - Information Technology
Our Affiliated Companies
The Veritas Group of Companies
Veritas Investment Research Corp., Veritas Asset Management Inc. and The Veritas Foundation
are owned by the Veritas Group of Companies, which is 100% employee-owned.
Veritas Asset Management Inc.
Veritas Asset Management was founded on the belief that superior research leads to better investment decisions. Our funds capitalize on the successful research of our affiliate Veritas Investment Research Corp.
Sam LaBell, Veritas Asset Management Advising Representative, Director
Our portfolios offer concentrated, high-conviction positions in companies identified through our research and due diligence work, applying a disciplined and systematic selection process.
Through our research, we identify opportunities to profit from mispriced securities, either by buying top-quality companies for long-term capital appreciation or through long-short hedging strategies. While our portfolios are primarily focused on Canadian equities, our portfolio managers also consider opportunities beyond Canada.
Veritas Foundation
The Veritas Foundation aims to be Canada's authoritative source for participating in the country's charitable sector and evaluating its effectiveness and impact. Our vision is to foster a thriving Canadian charitable sector.
Mark S. Bonham, Veritas Foundation Executive Director