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 Lancaster Colony Corporation (NASDAQ:LANC) in its Q4 2023 investor letter. Based in Westerville, Ohio, Lancaster Colony Corporation (NASDAQ:LANC) is a food products manufacturing company that operates through Retail and Foodservice segments. On March 12, 2024, Lancaster Colony Corporation (NASDAQ:LANC) stock closed at $202.75 per share. One-month return of Lancaster Colony Corporation (NASDAQ:LANC) was 6.90%, and its shares gained 2.59% of their value over the last 52 weeks. Lancaster Colony Corporation (NASDAQ:LANC) has a market capitalization of $5.58 billion.
Diamond Hill Select Strategy stated the following regarding Lancaster Colony Corporation (NASDAQ:LANC) in its fourth quarter 2023 investor letter:
“Other bottom contributors included Alphabet, Lancaster Colony Corporation (NASDAQ:LANC) and Lear Corp. Media and technology company Alphabet has been under pressure as the company’s cloud business has slowed. Packaged food products manufacturer Lancaster Colony has faced a challenging pricing environment, which has weighed on volumes. We exited our positions in both Alphabet and Lancaster Colony in Q4 and redeployed our capital into more attractive opportunities.”
A retired farmer in a wheat field, pleased with the quality of a Food products product he purchased from the company.
Lancaster Colony Corporation (NASDAQ:LANC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Lancaster Colony Corporation (NASDAQ:LANC) was held by 21 hedge fund portfolios, compared to 13 in the previous quarter, according to our database.
We discussed Lancaster Colony Corporation (NASDAQ:LANC) in another article and shared Diamond Hill Small Cap Fund’s views on the company in the previous quarter. 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.
