In May we saw QVP unable to continue its positive momentum from April unfortunately, with our large cap value quantitative strategy flat on the month compared to the 1.05 percent gain seen by the S&P 500.
The focus on QVP though is long-term outperformance, and in that regard it continues to trump the S&P 500, beating the market for eight of the past 10 years. If you were to have invested $100,000 in QVP at the start of 2010, it would now be worth $229,167.02. Conversely, the same amount would only have grown to $188,986.64 if it had been invested in the S&P 500.
Now though we will take a closer look at QVP’s top performers throughout the month:
5. Kroger (KR) +5.92%
One of QVP’s top-performing stocks of 2014, Kroger continues to flourish as America’s premier supermarket chain. Analysts have ascribed the company’s sustained success to its commitment to taking a bite out of the surging organic market, as well as growing its own cheaper, private label products (similar to Aldi and Trader Joe’s).
The acquisition of Harris Teeter by the company should serve as another opportunity to extend their business into new markets in the South as well.
4. Foot Locker (FL) +6.31%
Foot Locker announced their first quarter results on the 22nd of last month and it was no surprise that the apparel supplier beat both its EPS and revenue targets after a phenomenal couple of years for the company.
As of writing, Foot Locker shares have risen 11.98 percent since the beginning of the year, with an increase of 27.87 percent over the last twelve months.
3. Intel (INTC) +6.3%
The big news for the tech giant in May was its dogged takeover pursuit of fellow chip-maker, Altera. Intel is expected to use Altera's line of programmable chips to boost revenue, particular in the server system market which it dominates, after a sharp curtailing of PC demand which has slowed its own growth.
Intel declared a $0.24 dividend in May
2. Millicom International Cellular S.A. (MIICF) +6.67%
The telecom company sought to expand its presence in emerging markets last month with the acquisition of Zanzibar Telecom, the island’s leading cellphone operator.
The company’s annual general meeting was also held, with Ms. Cristina Stenbeck being elected as Chairman of the Board of Directors for a one-year period.
1. HollyFrontier (HFC) +7.40%
The Texas oil refiner released its first-quarter reports last month and beat Wall Street forecasts with a profit of $226.9 million, with the stock price performing admirably in response.
The company also declared a dividend of $0.33 with the company emphasizing its commitment to return cash to shareholders. HollyFrontier also announced that its board of directors had approved a $1 billion share repurchase program.