Retail is often seen as a victim of inflation, as higher housing, insurance, and everyday costs squeeze consumers. But there’s a clear split: full-price retailers are feeling the pressure, while off-price retailers are staying strong and pulling ahead.
Insights - An Update on Venezuela
This article looks at the U.S. operation in Venezuela and what it could mean for markets. These events often cause a short-term market reaction, but they rarely change the longer term trend. Even though Venezuela has huge oil reserves, years of underinvestment mean it could take 10 to 15 years to rebuild production. So, we expect limited near term impact on oil prices and client portfolios, and our overall outlook remains unchanged.
December Market Update
December was mixed, but 2025 was a strong year overall. Recent economic data has held up, and earnings expectations for 2026 remain positive.
Equities
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International stocks led (+3.5%); Canada also gained (+1.3%)
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U.S. markets were flat to slightly down as Technology paused
Bonds & Rates
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Bonds slipped as yields rose, especially after a strong Canadian jobs report
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Credit spreads tightened further
Currencies & Commodities
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U.S. dollar weakened
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Oil fell again; gold rose
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Bitcoin continued to decline
In his latest article, Jackson Arender looks at the rise of prediction markets and how they’re quietly reshaping parts of the gaming and betting landscape. He breaks down the regulatory shift, growing competition, and what it could mean for established players navigating this space.
Yorkville Asset Management announced that a leading institutional investor has committed approximately CAD $90 million as a strategic partner to Yorkville Health Care Fund I and Southbridge Health Care, supporting the launch of Yorkville Development LP (Fund II). The investment endorses Yorkville’s long-term healthcare growth strategy and is expected to significantly accelerate the redevelopment of long-term care assets across Canada, reducing the overall redevelopment timeline by about 40%.
The partnership strengthens Yorkville and Southbridge’s ability to expand resident-focused healthcare services, benefit from strong structural demand in Canadian healthcare, and enhance long-term investor value through faster execution and disciplined risk management. Additional details on the partnership and Fund II are expected in Q1 2026.
November Market Update
Markets were broadly higher in November, though signs of fatigue and more choppy trading emerged as earnings season wrapped up. The end of the U.S. government shutdown left a backlog of labour and economic data, keeping investors uncertain about the true state of the economy. Early data showing softness led markets to price in a potential Federal Reserve rate cut in December. With the holiday season approaching and trading volumes typically lower, strong year-to-date performance suggests markets may hold steady into year-end.
We are pleased to announce that the Yorkville Health Care Fund (the “Fund”) has surpassed a major milestone in 2025, raising ~$87 million in new equity. This represents a 34% increase over the $65 million raised in 2024 and exceeds the Fund’s previous record of $73 million. Total AUM for the Fund has also grown 24% year over year.
This year’s growth reflects both the strategic expansion of Yorkville’s distribution network, and a favourable shift in investor preferences toward defensive, non-correlated asset classes that remain resilient amid geopolitical and market uncertainty.
The Rebirth of Nike
In his latest article, Tyler Freier examines Nike’s rebound under new CEO Elliot Hill. After years of stalled innovation and strained retailer relations, Nike is refocusing on athlete-led branding, product differentiation, and retail recovery. Investor confidence is returning, with shares up 20% following renewed earnings guidance.
Yorkville Insights - Quiet Strength: Exploring Overlooked Winners in the Auto Sector
In his latest article, Jackson Arender examines how meaningful opportunities often emerge in less conventional corners of the market. From the resilience of the used car sector to the strength of needs-based businesses like O’Reilly Automotive and AutoZone, he highlights how these steady performers demonstrate that market leadership can come quietly and built on fundamentals, not flash.
August Market Update
Here’s a quick look at August:
Markets stayed positive through August, with stocks and bonds both up. Spending is slowing for lower-income households but holding strong for higher-income groups. The US Federal Reserve and political pressure remain the big focus for investors.
Equities:
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TSX up 5.0%
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S&P 500 up 2.0%
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Dow Jones up 3.4%
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NASDAQ up 1.7%
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International stocks up 4.1%
Other sectors beyond tech did well, especially Materials and Healthcare.
Bonds & rates:
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Canadian bonds up 0.5%
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US 10-year yield down 15 bps
Currencies & commodities:
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US dollar weaker vs CAD
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Oil fell 7.6%
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Bitcoin down 6.3%
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Gold up 4.8%
Outlook:
September is usually a weak month for markets. The Fed’s next rate decision will be key, with concerns about political influence adding uncertainty.
More...
Insights - Leading the Next Generation of Public Safety
An article from Derek Brenzil, highlighting Axon Enterprise as a strong example of Yorkville’s QVR (Quality, Valuation, Risk) model in action. The piece outlines how Axon combines sustainable growth, expanding markets, and long-term shareholder alignment.
Press Release - Yorkville Private Funds Reach $500 Million AUM
August 19, 2025 - Yorkville Asset Management Inc. ("Yorkville") is pleased to announce that the combined assets under management (AUM) of its Canadian Healthcare focused Private Funds (the Yorkville Health Care Fund, the Yorkville Private Lending LP, and the Yorkville Private Equity LP) have surpassed $500 million.
July Market Update
Here’s a quick look at July:
Markets stayed strong in July as trade talks between the US and other countries gained momentum. Good economic data and solid US company earnings helped boost confidence.
Equities performed well:
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NASDAQ was up 3.7%
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S&P 500 rose 2.2%
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Canadian stocks (TSX) increased 1.7%
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International stocks dipped slightly
The tech sector led the way, with big companies like Nvidia, Microsoft, and Amazon driving much of the growth.
Currency & commodities:
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The US dollar strengthened against the Canadian dollar and other currencies, helped by trade deal news
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Oil prices rose about 6% but stayed in a steady range
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Bitcoin gained 8.3% following new US laws supporting cryptocurrency
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Gold dipped slightly but remains steady
Even though markets are near record highs, we are watching carefully. The full impact of tariffs isn’t clear yet, and the upcoming US mid-term elections could bring some uncertainty. Company earnings are still strong, but we’re keeping an eye on any signs of slower growth.
Insights: When Medicine Makes Markets
In his latest article, Tyler Freier breaks down how the rise of GLP-1 weight-loss drugs is reshaping consumer habits, and entire industries. As people eat out less and shift toward healthier choices, brands that adapt through innovation and strategic pivots are best positioned to win in 2025.
Click here to read the article.
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