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September 30, 2026
Diversification More Important Than Ever

Dividend Strategy 3Q26: We are maintaining measured exposure to AI leaders while emphasizing diversification among attractively valued, durable businesses in overlooked sectors.

September 30, 2026
AI Leaders Persevere Through Drawdown

Emerging Markets 3Q26: Our semiconductor holdings have come through July selloff with fundamentals intact and should continue to deliver strong operational and financial results.

September 30, 2026
Integrating Sustainability into AI Positioning

Large Cap Growth ESG 3Q26: Data center development increasingly depends on managing power, water and community impacts, creating opportunities for portfolio companies that provide more sustainable infrastructure.

September 30, 2026
Sustainability a Key Factor for Data Centers

Appreciation ESG 3Q26: The growth of AI and data centers increasingly depends on managing power, water and community impacts, creating opportunities for companies providing more sustainable infrastructure.

September 30, 2026
Leadership Remains Narrow as Risks Abound

Canadian Equity Strategy 3Q26: Canadian equity performance was positive but narrowly concentrated in technology, materials and energy, while the rest of the market was pressured amid higher yields, trade uncertainty and uneven economic conditions.

September 30, 2026
Navigating Through Rapid Momentum Shifts

Select Strategy 3Q26: Growth leadership reversed as first-half winners in semiconductors, equipment and AI infrastructure came under pressure, while software and other prior laggards rebounded.

September 30, 2026
Rebalancing After Momentum’s Reversal

Global Value Improvers 3Q26: The Strategy trimmed industrials and added selectively to technology after July’s momentum selloff, as financials and materials helped but weakness in industrials, health care and communication services hurt.

September 30, 2026
Looking Through Small-Cap Weakness

Small Cap 3Q26: Rising rates and a July momentum unwind pressured small caps, but volatility is creating a more constructive backdrop for bottom-up stock selection.

September 30, 2026
Refining Growth Exposures Through Tech Volatility

International Growth ADR 3Q26: To balance our higher-beta AI holdings, we broadened our structural growth exposure and repurchased several previously held secular growers at oversold levels.

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