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 Humana Inc. (NYSE:HUM) in the fourth quarter 2023 investor letter. Headquartered in Louisville, Kentucky, Humana Inc. (NYSE:HUM) offers medical and specialty insurance. On March 12, 2024, Humana Inc. (NYSE:HUM) stock closed at $345.15 per share. One-month return of Humana Inc. (NYSE:HUM) was -5.30%, and its shares lost 28.39% of their value over the last 52 weeks. Humana Inc. (NYSE:HUM) has a market capitalization of $41.607 billion.
Diamond Hill Select Strategy stated the following regarding Humana Inc. (NYSE:HUM) in its fourth quarter 2023 investor letter:
“Only one stock detracted from performance in Q4 — health insurance company Humana Inc. (NYSE:HUM). The company faces growing concerns about heightened medical utilization, which would pressure health insurers’ medical loss ratios. Given heightened utilization among the Medicare Advantage population, there is some uncertainty among investors as to whether Humana’s rate bids for 2024 will prove adequate to cover increased costs. However, we maintain our conviction in Humana’s position as a leading insurer catering to the senior population with the opportunity to increase penetration of Medicare Advantage enrollment within the broader Medicare-eligible population.”
A closeup of an elderly patient happily receiving a specialty healthcare product.
Humana Inc. (NYSE:HUM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Humana Inc. (NYSE:HUM) was held by 86 hedge fund portfolios, compared to 81 in the previous quarter, according to our database.
We discussed Humana Inc. (NYSE:HUM) in another article and shared the list of worst performing stocks in S&P 500. 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.
