November was a wild month with a downward trend leading into the US elections and what is being referred to as the ‘Trump Rally’ following the widely unexpected result. All major indexes achieved record highs on November 21st. Fortunately I was able to redeploy the majority of the merger funds prior to the election. This month The S&P gained 3.42%. My portfolio recorded a gain of 11.49% (no normalization) largely reflecting my overweight position in the Financial sector. This increases my lead over the S&P for the year to 17.74% with one month to go.
Headlines impacting my portfolio:
- 11/2 – EPR acquires CLLY properties in liquidation
- 11/8 – XRX spin (CNDT) set for 12/31/16, ratio 1:5
- 11/14 – Maine is final approval for the BHB/LSBG merger. Closing expected Jan 2017.
- 11/15 – BMO designated as Canadian clearing firm for renminbi trades
- 11/16 – AMC gets EU approval to for Odeon & UCI merger
I chose not to do an October portfolio update due to all the activity which distorted the results a little, especially the XIRR column. The November data has been compiled and should be posted in the next couple of days with the goals update later in the week. The Unabridged portfolio should be next week as per normal.
- Added to DIS
- Added to UL
- Added to PEP
- Added to TD
- Added to KMB
- Added to NJR
- New position – IRM
- Added to TRP
- Added to KOF
- Added to CCE
- Added to FLIC (they chose to round up fractionals on a split)
- November delivered an increase of 29.1% over November 2015. This was due about evenly between dividend increases (Y/Y) and late 2015 funding.
- November had a 2.1% increase over the prior quarter.
- Announced dividend increases currently average 12.5% with 71.81% of my portfolio having at least one raise so far this year.
- Through November, dividends received exceeded total 2015 dividends by 13.8%.
The XRX spin (Conduent – CNDT) is on track to complete 12/31/2016.
LSBG/BHB expected to close in January 2017.