Diamond Hill Capital Long-Short Fund’s Q3 2023 Investor Letter

Diamond Hill Capital, an investment management company, released its “Long-Short Fund” third-quarter 2023 investor letter. A copy of the same can be downloaded here. The positive returns of the portfolio outperformed the Russell 1000 Index and the blended benchmark (60% Russell 1000 Index/40% Bloomberg US Treasury Bills 1-3 Month Index), both of which were negative in Q3. The short book trailed the index, providing a relative tailwind to performance. Long financial holdings were another source of relative strength. On the other hand, the fund’s long industrials and healthcare holdings were sources of relative weakness in Q3. In addition, you may look at the fund’s top 5 holdings to learn about its best picks in 2023.