Diamond Hill Capital, an investment management company, released its “Small Cap Fund” second-quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter of 2023, markets were positive, and the US stocks rose over 8% (as measured by the Russell 3000 Index). The portfolio outperformed Russell 2000 Index in Q2 and returned 6.34%, bringing the YTD gains to 13.05%. Financial and consumer discretionary holdings were the source of relative strength in the quarter while the relative weakness came from consumer staples holdings and below-benchmark exposure to the information technology sector. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Diamond Hill Small Cap Fund highlighted stocks like Green Brick Partners, Inc. (NYSE:GRBK) in the second quarter 2023 investor letter. Green Brick Partners, Inc. (NYSE:GRBK) is a homebuilding and land development company. On July 28, 2023, Green Brick Partners, Inc. (NYSE:GRBK) stock closed at $56.34 per share. One-month return of Green Brick Partners, Inc. (NYSE:GRBK) was 0.84%, and its shares gained 110.15% of their value over the last 52 weeks. Green Brick Partners, Inc. (NYSE:GRBK) has a market capitalization of $2.564 billion.
Diamond Hill Small Cap Fund made the following comment about Green Brick Partners, Inc. (NYSE:GRBK) in its second quarter 2023 investor letter:
“On an individual holdings’ basis, top contributors to return in Q2 included Green Brick Partners, Inc. (NYSE:GRBK) and UFP Technologies. Green Brick Partners is a homebuilder operating primarily in Atlanta and Dallas. Homebuilders have had a solid start to 2023, and Green Brick has performed especially well — its low land basis and strong fundamentals in its main Dallas[1]Fort Worth market have contributed to strong earnings and underlying metrics relative to competitors. We like Green Brick Partners for its solid balance sheet, which should allow it to navigate any impending cyclicality and survive a downturn. Further, its management team is long-term oriented and well-aligned with shareholders — attributes we like.”
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Green Brick Partners, Inc. (NYSE:GRBK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 14 hedge fund portfolios held Green Brick Partners, Inc. (NYSE:GRBK) at the end of first quarter which was 17 in the previous quarter.
We discussed Green Brick Partners, Inc. (NYSE:GRBK) in another article and shared the stock picks of David Einhorn’s 2023 portfolio. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
