Whitestone Capital
Independent Research. Disciplined Risk.
The Next Generation
of Equity Research.
Whitestone Capital is an equity research firm based in Waterloo, Ontario, with members drawn from across the Greater Toronto Area and leading universities in Canada and the United States, focused on rigorous fundamental analysis across Technology, Healthcare, Financials, Energy, and Fixed Income, Currency & Commodities (FICC). We develop investment-grade research through deep industry work, financial modeling, and thesis-driven analysis, preparing members for careers in capital markets and asset management.
Coverage Universe.
Long-form fundamental research with explicit theses, modeled financials, and transparent valuation work.
More Reports
Coming Soon.
Our Equity Research and FICC teams are publishing initiations through Summer 2026.
Simulated Portfolio
$1,000 in Every Call
What if you invested $1,000 in each recommendation on its publication date? Positions are liquidated when their price targets are met, with realized gains retained in cumulative P&L. Compare cumulative gains against the same dollars invested in the S&P 500, one week at a time.
As of
Sep 23, 2026
Invested
$4,000.00
WSC Portfolio
$4,486.19
$486.19 (+12.15%)
S&P 500
$4,054.96
$54.96 (+1.37%)
Cumulative P&L · same capital invested
WSC $486.19 / S&P 500 $54.96
$431.22 ahead as of Sep 23, 2026
Cumulative gains above contributed capital. Weekly start carries forward the last observed close; subsequent points use supplied prices only. No daily prices are estimated.
| Position | Entry | Value | P&L |
|---|---|---|---|
| Eli Lilly (LLY) | Apr 30, 2026Liquidated Jun 29, 2026 | $1,304.41 | $304.41 (+30.44%) |
| MANGOS Basket (NVDA · GOOGL · META · SPCX) | Aug 9, 2026 | $1,090.69 | $90.69 (+9.07%) |
| Devon Energy (DVN) | Aug 11, 2026Liquidated Sep 15, 2026 | $1,123.35 | $123.35 (+12.33%) |
| Gold (GLD proxy) | Aug 17, 2026 | $967.74 | -$32.26 (-3.23%) |
Hypothetical, for educational purposes only. Uses the biweekly closing prices provided through September 23, 2026. MANGOS is modeled as an equal-weight basket of NVIDIA, Alphabet, Meta, and SpaceX. LLY and DVN are liquidated at their stated targets on June 29 and September 15, respectively, with proceeds held as cash. Gold uses GLD as a proxy. The S&P 500 comparison invests $1,000 on each corresponding entry date and remains invested. Past performance does not guarantee future results.
Meet the Team.
Our analysts, associates, and executives come from leading programs across the world's top universities.
Now Hiring for
Fall 2026.
Applications are officially open for Fall 2026. We are hiring ambitious analysts, associates, and VPs across all four verticals to join the GTA's most disciplined student equity research team.