Should You Hold General Motors Company (GM) Stock for the Long-Term?

Diamond Hill Capital, an investment advisor, released its “Large Cap Concentrated Strategy” second quarter 2022 investor letter. A copy of the same can be downloaded here. The second quarter was challenging for US stocks, and the large-cap Russell 1000 Index fell by more than 16%. Despite a challenging second quarter, the fund outperformed the Russell 1000 Index. The stock selection in technology, consumer discretionary, healthcare, consumer staples, and industrials sectors contributed positively to the fund’s performance in the quarter. In addition, you can check the top 5 holdings of the fund to know its best choices in 2022.

Diamond Hill Capital discussed stocks like General Motors Company (NYSE:GM) in the second quarter 2022 investor letter. Headquartered in Detroit, Michigan, General Motors Company (NYSE:GM) is an automobile manufacturer. On October 3, 2022, General Motors Company (NYSE:GM) stock closed at $32.87 per share. One-month return of General Motors Company (NYSE:GM) was -14.56%, and its shares lost 39.11% of their value over the last 52 weeks. General Motors Company (NYSE:GM) has a market capitalization of $47.926 billion.

Here is what Diamond Hill Capital specifically said about General Motors Company (NYSE:GM) in its Q2 2022 investor letter:

“Auto manufacturer General Motors Company (NYSE:GM)s was also among our bottom contributors in Q2. Rising interest rates and continued supply chain issues have increased uncertainty surrounding the auto industry, exerting downward pressure on stocks of auto makers. We continue to like GM’s focus on its most profitable market segments (SUV, crossovers, trucks) and believe the company’s heavy investments in autonomous capabilities will position it favorably as the secular movement towards autonomous vehicles continues.”

General Motors Company (NYSE:GM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 75 hedge fund portfolios held General Motors Company (NYSE:GM) at the end of the second quarter which was 76 in the previous quarter.

We discussed General Motors Company (NYSE:GM) in another article and shared Chartwell Investment Partners’ views on the company. In addition, please check out our hedge fund investor letters Q2 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.