In October, the Long Term GARP portfolio lost 1.3% versus a 1.7% retreat for the S&P 500.
The biggest event for our holdings involved the investment by Liberty Media (LMCA) to ultimately purchase the Formula One, European-dominated auto racing franchise.
Another Liberty transaction involves the split off of the Liberty Ventures’ holdings in Expedia into a new stock, which will begin trading during the first week of November.
Starbucks Dividend
Quite a few portfolio holdings will report earnings in November, including BP Plc (BP), IAC/InterActive (IACI), Starbucks (SBUX), all of the Liberty family, Intuit (INTU), andCie Financiere Richemont (CFRHF).
Quest Diagnostics (DGX) exceeded consensus estimates with its earnings report in October.
I expected Starbucks would soon raise its dividend as the company has done consistently over the past few years.
Right on cue, the giant coffee chain delivered better-than-expected earnings on November 3 and unveiled a healthy dividend hike to 54 cents a share.
Portfolio Additions
The opportunity to invest more capital into QVC, a Liberty company, presented itself and I added to that position.
The same holds true for Richemont, in which I invested in last May.
I also initiated a small position in Rite Aid (RAD) based on the likelihood the Walgreens transaction will be approved and completed ahead of schedule.
Photo Credit: machu. via Flickr Creative Commons
