Argus Research believes that Sustainable Impact investing is smart investing. We recently updated our Sustainable Growth Theme Model Portfolio and added just one company (Nasdaq Inc.). That might seem like a small number, but the list does turn over and the current list does look very different than it did a year ago. We dig deep when researching this theme, deploying multiple screens and analyzing many different metrics to give us confidence that the companies we select rightly deserve a spot on our roster. Companies committed to Sustainable Impact values reflect positive traits from management, and those often translate into better business. ESG (Environmental, Social, Governance) investing has come a long way and continues to grow. According to the Global Sustainable Investment Association, global assets under management in ESG strategies were $30 trillion in 2022, up from $23 trillion in 2016. The discipline, originally known as Socially Responsible Investing, focused at first on excluding companies that conducted business in South Africa, or participated in industries such as tobacco, alcohol, and firearms. In time, the list of industries to avoid increased to include soft drinks, fast food, and oil and gas, among numerous others. But the performance of these initial strategies lagged. Now, instead of merely identifying industries to avoid, the discipline promotes "sustainable" business practices across industries that have an "impact" on global issues such as climate, hunger, poverty, disease, shelter, and workers' rights. At Argus, we track ESG progress at specific companies as part of our Management analysis (one of the points in our proprietary Six-Point Valuation System). In addition to reviewing and measuring the ESG proclamations from companies under coverage, we partner with an ESG research firm, JUST Capital, and leverage its analysis and insights. JUST Capital's mission is to drive measurable corporate change to create a stakeholder-centric form of capitalism that reflects the priorities of the American public. JUST utilizes a combination of data-driven research and strategic engagement in an attempt to shift norms and practices in corporate America and the financial markets. JUST ESG Custom Ratings rank stocks in the Russell 1000 on criteria using a scale of 1-100. Drawing on the JUST Capital rankings, we have compiled focused lists of companies followed by Argus Research that are in position to have this type of "sustainable impact" on the environment, workplace, community, and marketplace. These firms have exemplary records not only in delivering on the bottom line, but also in improving the environment, contributing to community relations, and showing respect for their employees. Here are some of the stocks that are currently held in the Argus Sustainable Growth Model Portfolio.

Dividend income is often overlooked amid gyrations in the stock market. Consider that in 2024, market bulls were boasting about 24%-plus S&P 500 returns. No one was very focused on the broad market index's 1.2% dividend yield. But dividends are an important element of return, and 2025 for a while was bearing that out. Through May, the S&P 500 was up a thin 1.1%; without dividends, there was essentially no returns at all. Of note, dividend income accounted for 42% of the total return of the S&P 500 between 1930 and 2012, according to Hartford Funds. And that's just the average. In some of those decades, dividends accounted for more than 50% of total returns and even 100%. More recently, dividends have accounted for a smaller portion of returns, at around 15%-20%. But not all dividends are created equal, though, and it is important to understand the difference between the two main investment categories: high-yield stocks and dividend-growth stocks.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

Sustainable Impact Investing is gaining traction not only with Argus Research clients but also with the global investment community. As assets have flowed in over the past 40 years, Sustainable Investing has evolved. The discipline, originally known as Socially Responsible Investing, first focused on excluding companies that conducted business in South Africa, or participated in industries such as tobacco, alcohol, and firearms. In time, the list of industries to avoid increased to include soft drinks, fast food, and oil and gas, among numerous others. Performance of initial strategies lagged, and the approach has been modified. Now, instead of merely identifying industries to avoid, the discipline promotes "sustainable" business practices across all industries that can have an "impact" on global issues such as climate, hunger, poverty, disease, shelter, and workers' rights. Given the strategy's focus on leading management practices, we expect the growth curve for Sustainable Investing to again slope upward in the years ahead.