In the first quarter of 2026, the Impax US Sustainable Economy Fund did not match the performance of the Russell 1000 benchmark, largely due to a lack of investment in the rapidly growing Energy sector. This underperformance came amid rising energy prices and inflation expectations, which interrupted a three-quarter winning streak for the S&P 500 index.
On May 28, 2026, shares of QUALCOMM Incorporated (NASDAQ:QCOM) closed at $243.29, marking a one-month increase of 37.44% and a significant 67.56% rise over the past year. The company, a leader in semiconductor and communication technology, has a market capitalization of $256.43 billion.
In their quarterly investor letter, Impax highlighted QUALCOMM for its high scores in Corporate Resilience, driven by strong environmental, social, and governance practices. However, the firm noted that the stock faced challenges due to disappointing forward guidance following record fiscal results, as well as competitive pressures from Apple's in-house modem chip development.