Diamond Hill Capital, an investment management company, released its “Large Cap Concentrated Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy returned 12.13% net of fees compared to a 7.24% return for the Russell 1000 Index. Holdings in the consumer discretionary, industrials, and financials sectors contributed towards the strategy’s performance in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Diamond Hill Large Cap Concentrated Strategy highlighted stocks like Abbott Laboratories (NYSE:ABT) in its Q4 2022 investor letter. Headquartered in North Chicago, Illinois, Abbott Laboratories (NYSE:ABT) is a healthcare products manufacturer. On March 23, 2023, Abbott Laboratories (NYSE:ABT) stock closed at $97.04 per share. One-month return of Abbott Laboratories (NYSE:ABT) was -3.40%, and its shares lost 18.42% of their value over the last 52 weeks. Abbott Laboratories (NYSE:ABT) has a market capitalization of $168.651 billion.
Diamond Hill Large Cap Concentrated Strategy made the following comment about Abbott Laboratories (NYSE:ABT) in its Q4 2022 investor letter:
“Abbott Laboratories (NYSE:ABT) outperformed during the quarter as investors flocked to safety. Although we are pleased with the stock’s performance, we are interested in the company due to its favorable long-term positioning. Abbott is a high-quality company with a talented management team that makes smart capital allocation decisions. The company has leading health care and consumer franchises with a particularly strong competitive position in its medical device business. Abbott continues to launch innovative products in key strategic areas (such as diabetes, structural heart and diagnostics), which should help drive not only revenue growth but margin expansion.”
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Abbott Laboratories (NYSE:ABT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 60 hedge fund portfolios held Abbott Laboratories (NYSE:ABT) at the end of the fourth quarter which was 62 in the previous quarter.
We discussed Abbott Laboratories (NYSE:ABT) in another article and shared the list of best dividend aristocrats to buy. In addition, please check out our hedge fund investor letters Q4 2022 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.
