Should You Sell SVB Financial Group (SIVB)?

Diamond Hill Capital, an investment management company, released its “Mid Cap Strategy” third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -4.67% net of fees compared to a -3.44% return for the Russell Midcap Index. Portfolio holdings in technology, industrials, and consumer discretionary sectors hindered 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 Capital discussed stocks like SVB Financial Group (NASDAQ:SIVB) in the Q3 2022 investor letter. Headquartered in Santa Clara, California, SVB Financial Group (NASDAQ:SIVB) is a financial services company. On October 24, 2022, SVB Financial Group (NASDAQ:SIVB) stock closed at $232.01 per share. One-month return of SVB Financial Group (NASDAQ:SIVB) was -29.40% and its shares lost 68.38% of their value over the last 52 weeks. SVB Financial Group (NASDAQ:SIVB) has a market capitalization of $13.934 billion.

Diamond Hill Capital made the following comment about SVB Financial Group (NASDAQ:SIVB) in its Q3 2022 investor letter:

“Other bottom contributors included SVB Financial Group (NASDAQ:SIVB), Hanesbrands and SS&C Technologies Holdings. SVB Financial, a California-based bank, focuses primarily on the innovation sector — both tech and healthcare. Continued weakness in the innovation economy and an inert IPO market in the quarter weighed on SVB shares as investors feared a slowing growth rate.”

Largest Financial Services Companies by AUM

SVB Financial Group (NASDAQ:SIVB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 31 hedge fund portfolios held SVB Financial Group (NASDAQ:SIVB) at the end of the second quarter which was 34 in the previous quarter.

We discussed SVB Financial Group (NASDAQ:SIVB) in another article and shared Diamond Hill Capital’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 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.