Insight into Diamond Hill Capital (Trades, Portfolio)'s Latest 13F Filings and Portfolio Adjustments
Established in 2000, Diamond Hill Capital (Trades, Portfolio) Management, Inc. is a distinguished investment adviser based in Columbus, Ohio. Known for its rigorous, bottom-up research process, Diamond Hill focuses on long-term value investing. The firm's strategies encompass a broad range of equity and alternative investments, serving a diverse clientele that includes institutions, financial intermediaries, and individual investors. Diamond Hill's investment philosophy emphasizes intrinsic value assessment, supported by detailed financial analysis and a keen understanding of industry dynamics and economic factors.
Summary of New Buys
Diamond Hill Capital (Trades, Portfolio) has expanded its portfolio by adding 13 new stocks in the second quarter of 2024. Noteworthy new positions include:
- Starbucks Corp (SBUX, Financial) with 3,133,081 shares, making up 1.04% of the portfolio, valued at $243.91 million.
- International Paper Co (IP, Financial) comprising 1,881,505 shares, which represent about 0.35% of the portfolio, with a total value of $81.19 million.
- VeriSign Inc (VRSN, Financial) with 381,970 shares, accounting for 0.29% of the portfolio and a total value of $67.91 million.
Key Position Increases
Diamond Hill Capital (Trades, Portfolio) also significantly increased its stakes in 54 stocks. Major increases include:
- Sysco Corp (SYY, Financial), where an additional 1,997,895 shares were purchased, bringing the total to 6,012,607 shares. This adjustment represents a 49.76% increase in share count and a 0.61% impact on the current portfolio, valued at $429.24 million.
- Abbott Laboratories (ABT, Financial), with an additional 1,014,421 shares, bringing the total to 6,158,903 shares. This adjustment represents a 19.72% increase in share count, valued at $639.97 million.
Summary of Sold Out Positions
In the second quarter of 2024, Diamond Hill Capital (Trades, Portfolio) exited five positions, including:
- Marsh & McLennan Companies Inc (MMC, Financial), where all 832,258 shares were sold, impacting the portfolio by -0.7%.
- SunOpta Inc (STKL, Financial), with all 2,529,784 shares liquidated, causing a -0.07% impact on the portfolio.
Key Position Reductions
Significant reductions were made in 92 stocks. Notable reductions include:
- KKR & Co Inc (KKR, Financial), reduced by 2,475,841 shares, resulting in a -93.8% decrease in shares and a -1.01% impact on the portfolio. The stock traded at an average price of $101.81 during the quarter and has returned 13.75% over the past three months and 37.08% year-to-date.
- Martin Marietta Materials Inc (MLM, Financial), reduced by 107,845 shares, resulting in a -26.23% reduction in shares and a -0.27% impact on the portfolio. The stock traded at an average price of $581.17 during the quarter and has returned -9.20% over the past three months and 8.73% year-to-date.
Portfolio Overview
As of the second quarter of 2024, Diamond Hill Capital (Trades, Portfolio)'s portfolio included 171 stocks. The top holdings were 4.12% in American International Group Inc (AIG, Financial), 2.89% in Bank of America Corp (BAC, Financial), 2.79% in ConocoPhillips (COP, Financial), 2.74% in Abbott Laboratories (ABT, Financial), and 2.61% in Texas Instruments Inc (TXN, Financial). The holdings are mainly concentrated across 11 industries, reflecting a diverse and strategic allocation.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
