Diamond Hill Large Cap Strategy’s Q4 2023 Investor Letter

Diamond Hill Capital, an investment management company, released its “Large Cap Strategy” fourth-quarter 2023 investor letter. The strategy trailed the Russell 1000 Index for Q4 and underperformed for the calendar year. In Q4, both the fund’s below-benchmark weighting and individual holdings underperformed index peers, resulting in relative weakness in the technology exposure for both the full year and the quarter. In addition, overweight exposure to the weak energy sector detracted from the relative results, along with healthcare holdings. Financial holdings and over-benchmark allocation boosted performance. Positive stock picks in real estate and consumer staples sectors also contributed. The strategy returned 11.39% (net) in Q4 compared to 11.96% for the Russell 1000 Index. For the full year, the strategy returned 13.68% (net) compared to a 26.53% return for the index. In addition, you can check the top 5 holdings of the strategy to know its best picks in 2023.

A copy of Diamond Hill Large Cap Strategy’s Q4 2023 investor letter can be downloaded here.