Portfolio Management News 2 October 2025 - 2 January 2026

Toronto-Dominion Bank (TSX: TD, NYSE: TD) heads into its year‑end earnings week in a very unusual position:the stock is hovering just below record highs, the business is still digesting a historic US$3+ billion anti‑money‑laundering settlement, and a new CEO is pitching a “Back to Winning” turnaround to investors who have already enjoyed a huge 2025 run. This makes TD one of the most interesting—and arguably most polarizing—large‑cap bank stocks on the market right now. 1. Where TD stock stands on December 3, 2025 On the NYSE (TD): On the TSX (TD.TO): Performance: In other words: TD is trading like a

Nuclear’s Second Act: Clean Power Gains Momentum After decades of stagnation, nuclear power is enjoying a dramatic comeback. In 2024–2025, dozens of governments have either restarted plants or greenlit new ones to meet climate and energy-security goals. The U.S. Congress funneled record funding into nuclear R&D and fuel (doubling enrichment and building HALEU supply) as part of a clean-energy spending billenergy.govenergy.gov. Likewise, Congress passed bipartisan laws (the 2024 ADVANCE Act) to speed up licensing of new reactor designsnrc.gov. Globally, countries from France and the UK to China, India, and even some historically anti-nuclear nations (Italy, Serbia, etc.) are planning reactor