Diamond Hill Capital, an investment management company, released its “Select Strategy” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. In Q4, the portfolio rose strongly outperforming the Russell 3000 Index and adding to calendar-year outperformance. The strategy returned 18.06% (net) in Q4 compared to a 12.07% return for the index. For the calendar year, the strategy returned 30.60% compared to a 25.96% return for the index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Diamond Hill Select Strategy featured stocks like HCA Healthcare, Inc. (NYSE:HCA) in the fourth quarter 2023 investor letter. Headquartered in Nashville, Tennessee, HCA Healthcare, Inc. (NYSE:HCA) is a healthcare services provider. On March 12, 2024, HCA Healthcare, Inc. (NYSE:HCA) stock closed at $323.55 per share. One-month return of HCA Healthcare, Inc. (NYSE:HCA) was 6.24%, and its shares gained 29.06% of their value over the last 52 weeks. HCA Healthcare, Inc. (NYSE:HCA) has a market capitalization of $85.579 billion.
Diamond Hill Select Strategy stated the following regarding HCA Healthcare, Inc. (NYSE:HCA) in its fourth quarter 2023 investor letter:
“In addition to Diamondback Energy, we also initiated positions in Coherent and HCA Healthcare, Inc. (NYSE:HCA) in Q4. HCA Healthcare is a best-in-class operator of acute-care hospitals and other health care facilities, including outpatient surgery centers. The company is dominant in highly attractive geographies with growing populations and low unemployment rates, like Texas and Florida. The management team also has a strong track record of effectively deploying capital. Shares were pressured during the quarter as investors weigh the potential efficacy of glucagon-like peptide-1 agonists (GLP-1s) in treating Type-2 diabetes, which could decrease demand for HCA Healthcare’s services. However, given our conviction in the long-term outlook for the company, we took advantage of the attractive price to initiate a position.”
A team of healthcare professionals in lab coats and masks meeting at a hospital ward.
HCA Healthcare, Inc. (NYSE:HCA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, HCA Healthcare, Inc. (NYSE:HCA) was held by 72 hedge fund portfolios, compared to 71 in the previous quarter, according to our database.
We discussed HCA Healthcare, Inc. (NYSE:HCA) in another article and shared the list of best large-cap stocks to buy in 2024. In addition, please check out our hedge fund investor letters Q4 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.
