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November 2012-Y H & C Investments: Long Term GARP Covestor Portfolio

The portfolio had a strong month in October as it increased 2.8%, which was well ahead of the S&P 500 performance of a loss of 1.3%. Many holdings in the portfolio announced earnings during the latter part of October or the first few days of November, and almost all had good quarterly results. A few companies raised their dividends, and one company announced a large acquisition. The presidential election will take place in a few days, and I would expect the result to impact the market in the short term. On a long term basis, certainly more than one industry will be affected by who wins, as well as how the chambers of congress are composed. Regardless of the outcome, I have the utmost confidence the portfolio is well positioned for the future.

Portfolio Holdings and Upcoming Events

Liberty Interactive- Owner of QVC,, Provide Commerce,,, and large passive minority positions in other large, well known internet based business like the Home Shopping Network. Liberty completed the spinoff of their Liberty Ventures segment (NASDAQ:LVNTA), and will present earnings on November 6, 2012.

Liberty Interactive Conference Call November 6, 2012-

Liberty had an investor day on October 10, 2012-

Iconix Brands- Owner of a broad range of well known brands like OP, Mossimo, Joe Boxer, Peanuts, and Sharper Image. Iconix Brands announced the acquisition of the Umbro brand from Nike for $225 million. The acquisition builds on the existing ownership of athletic apparel brands Starter and Danskin. The company recently reported earnings on November 1, 2012.

Umbro Brand Acquisition-

Iconix Brands 3rd Quarter 2012 Earnings Release and Conference Call-

3. Quest Diagnostics- Quest Diagnostics is the largest health care diagnostic testing company in the United States. The company reported lackluster earnings on October 17, 2012. Quest will have an investor day on November 16, 2012.

Quest Diagnostics 3rd Quarter 2012 Earnings Release

The company has an investor day on November 16, 2012-

Intuit- The company recently raised their dividend to 17 cents a share in each quarter. Intuit will report earnings on November 15, 2012.

The company had an investor day on September 18, 2012-

Starbucks - Largest coffee and tea company in the world. Starbucks recently opened their first stores in India at the end of October. The company reported better than expected results on November 1, 2012 and raised the dividend by nearly 25%.

Liberty Media - Another stock of Liberty Media, the assets inside the holding company structure include Starz Media, the Atlanta Braves, 40% ownership of Sirius Satellite (NASDAQ:SIRI), almost 20% ownership of Live Nation (NYSE:LYV), 16% ownership of Barnes & Noble, and a few other non controlling positions of small public and private. Liberty announced they will be spinning off Starz Media into a separate company, and it should happen by the end of 2012. Liberty Media will announce 3rd quarter earnings on November 6, 2012.

Liberty had an investor day on October 10, 2012-

Starz Media Announcement (part of earnings release)-

VCA Antech- Second largest owner of animal hospitals in the United States, also owns the laboratories for diagnostic testing of animals. The company had a nice 3rd quarter earnings report and continues to buy new animal hospitals to build the scale of the enterprise.

VCA Antech 3rd Quarter 2012 Earnings Report-

VCA Antech at Stephens Investment Conference-

IAC Interactive- Owner of,, Meetic, Service Magic, Vimeo,, and the Daily Beast, among other web sites. The company reported good results for the 3rd quarter of 2012

Here is their most recent earnings report on October 24, 2012

Moneygram International- Second largest money transfer and bill payment company behind Western Union. The company will report 3rd quarter earnings on November 5, 2012. The company also announced a new relationship with Paypal.

The company recently announced an extension of their relationship with Wal-Mart-

Here is the announcement on the new partnership with Paypal-

British Petroleum- An ownership position in one of the largest integrated oil companies in the world. BP recently announced an agreement to sell their 50% stake in TNK-BP of Russia, and will then take a 20% ownership position in Rosneft, which will become the largest oil company in the world. BP will receive over $10 billion of cash by selling the stake. BP also announced better than expected earnings for the 3rd quarter of 2012 and raised the dividend by 24%.

Announcement of TNK-BP Sale-

3rd Quarter 2012 Earnings Announcement

Quidel Corporation-Health care and diagnostic company which makes influenza tests and is expanding their product line into strep throat, graves disease, and other molecular assays. Their most recent earnings report was better than expected-

Unilever: A massive food company based in the UK that gets over half of it's nearly 50 billion dollars of sales in the emerging markets of Asia and Africa. The company pays a dividend of 3.7% and has the goal of doubling its sales by 2020.

Here is a link to their most recent earnings report, which showed very good top line growth for a company as large as Unilever-

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Disclosure: I am long LINTA, ICON, LMCA, SBUX, IACI, BP, UL, WOOF.