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Dividend Aristocrats underperformed SPY in September but rebounded sharply in October, narrowing the YTD gap. NOBL and the average Aristocrat have YTD returns of 13.13% and 13.35%, trailing SPY's 14.15%. Dividend growth among Aristocrats accelerated, with the 2026 average increase now at 4.55%, bolstered by recent double-digit hikes.

Home Depot's Pro investments, sales growth and digital gains contrast with Lowe's contractor expansion, margin improvement and lower valuation.

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?

Microsoft Corporation was the portfolio's top contributor during the quarter. Suncor Energy outperformed the Index during the quarter. KLA Corporation traded lower during the quarter.

Buying a home has become increasingly unaffordable, with rising interest rates only adding to the headwind. At the same time, people with existing lower-rate mortgages may be reluctant to move, since they'd have to take on a higher-rate mortgage.