Green Brick Partners (GRBK) Benefited from a Drop in Mortgage Rates

Diamond Hill Capital, an investment management company, released its “Small Cap Fund” first-quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund outperformed the Russell 2000 Index and returned 6.31%, compared to the Index’s return of 2.74%. Strength in industrials, energy, and healthcare holdings contributed to the fund’s relative performance in the quarter. 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 first quarter 2023 investor letter. Headquartered in Plano, Texas, Green Brick Partners, Inc. (NYSE:GRBK) is a homebuilding and land development company. On May 12, 2023, Green Brick Partners, Inc. (NYSE:GRBK) stock closed at $50.26 per share. One-month return of Green Brick Partners, Inc. (NYSE:GRBK) was 40.67%, and its shares gained 120.92% of their value over the last 52 weeks. Green Brick Partners, Inc. (NYSE:GRBK) has a market capitalization of $2.418 billion.

Diamond Hill Small Cap Fund made the following comment about Green Brick Partners, Inc. (NYSE:GRBK) in its Q1 2023 investor letter:

“Other top contributors included Red Rock Resorts, Civitas Resources and Green Brick Partners, Inc. (NYSE:GRBK). Homebuilder Green Brick Partners has benefited as mortgage rates have dropped, contributing to better-than-expected home sales activity.”

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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, 17 hedge fund portfolios held Green Brick Partners, Inc. (NYSE:GRBK) at the end of the fourth quarter which was 18 in the previous quarter.

We discussed Green Brick Partners, Inc. (NYSE:GRBK) in another article and shared Greenlight Capital’s views on the company. In addition, please check out our hedge fund investor letters Q1 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.