The S & P 500 last week wrapped up the third quarter, falling more than 5%. It was the third consecutive quarter of declines for the index, marking the longest losing streak since 2008. Stocks and commodities have since broadly rallied in the first days of the fourth quarter . But after yet another troublesome quarter in the books, we thought it would again be helpful to look back and highlight what went right — and wrong — in the three months ended Sept. 30. Here’s a snapshot of the best and worst performers in the Investing Club’s 34-stock portfolio for the third quarter, starting with our four top performers. Top performers Taking the crown was TJX Companies (TJX), with a strong gain of about 11.4% in the third quarter. We didn’t own TJX for the totality of the quarter, but it was still a relative outperformer from the time of our initiation. Since our first buy on Aug. 24 , shares of the off-price retailer fell about 3.6%, versus a 13.4% slide in the S & P 500. We used that decline to scale deeper into our TJX position a few times. The retail sector is going through an apparel inventory glut right now and is frantically working to right-size positions through heavy markdowns, liquidations, and by cancelling orders. This has created a unique moment for off-price chains, including TJX’s flagship chain TJ Maxx, as it gives them an opportunity to pick up all sorts of quality merchandise for next to nothing. At the same time, gasoline prices in the U.S. hit a high in June before falling nearly every day in the third quarter. This much needed relief at the pump added support to consumer stocks, with the thought being that people would have a little more breathing room in their discretionary budgets than when gasoline averaged $5 a gallon. The runner up was Wynn Resorts (WYNN), which climbed 10.6% higher in the quarter. Shares of this casino operator made a big push near the end of the quarter, after it was announced that tour groups from mainland China would be allowed back into gambling hub Macao in November. The news was greeted positively by investors, as it was the first real sign that Beijing was moderating its strict zero-Covid restrictions. Starbucks (SBUX) came in third place, jumping 10.3% over the quarter. Like TJX, we didn’t own SBUX for the full quarter, but it was also a relative outperformer from our first buy. We initiated a position in the coffee retailer on Aug. 22, and shares fell less than 1%, compared to a 13.3% drop in the S & P 500 for the rest of the quarter. The stock was a steady riser throughout the quarter thanks to a great earnings report, in which the company topped expectations on every line and issued better than expected guidance for the next quarter. But the real catalyst in the quarter was the company’s mid-September investor event, where management outlined its reinvention plan and provided medium-term financial targets . The event was nearly universally praised by Wall Street . Fourth was Devon Energy…
Read More: These stocks were our best and worst performers in the third quarter