Season beef with 1 1/2 teaspoons salt and 1 teaspoon black pepper. Heat canola oil; add beef and cook until evenly browned, about 2-3 minutes per side; set aside.

Add onion, and cook, stirring frequently, until translucent, about 2-3 minutes. Stir in garlic and tomato paste until fragrant, about 1 minute.

Stir in red wine, scraping any browned bits from the bottom of the pot.

Stir in beef stock, Worcestershire, thyme, rosemary, bay leaves and potatoes. Top with beef. Select manual setting; adjust pressure to high, and set time for 45 minutes. When finished cooking, quick-release pressure according to manufacturer’s directions.

Add carrots; select manual setting; adjust pressure to high, and set time for 10 minutes. When finished cooking, quick-release pressure according to manufacturer’s directions.

Remove beef, potatoes and carrots from the Instant Pot®; shred beef, using two forks.

In a small bowl, whisk together cornstarch and 1/4 cup cold water; set aside.

Select high sauté setting. Bring to a boil; stir in cornstarch mixture and cook, stirring frequently, until slightly thickened, about 2-3 minutes. If the mixture is too thick, add more beef stock as needed until desired consistency is reached.

Serve beef, potatoes and carrots with juices immediately.