Insight into Diamond Hill Capital (Trades, Portfolio)'s Latest 13F Filing
Diamond Hill Capital (Trades, Portfolio), a prominent investment firm established in 2000 and based in Columbus, Ohio, recently disclosed its 13F filing for the third quarter of 2024. As a NASDAQ-listed entity under the ticker DHIL and a part of the Russell 2000 Index, Diamond Hill is known for its rigorous bottom-up investment approach. This method focuses on in-depth fundamental analysis of individual companies, assessing aspects like profitability, competitive position, and management quality, without placing a heavy emphasis on macroeconomic factors. Their latest portfolio adjustments provide valuable insights into their strategic positioning and market outlook.
Summary of New Buys
Diamond Hill Capital (Trades, Portfolio) expanded its portfolio by adding 10 new stocks in the third quarter of 2024. Noteworthy new additions include:
- Aon PLC (AON, Financial), with 972,211 shares, making up 1.36% of the portfolio and valued at $336.38 million.
- Builders FirstSource Inc (BLDR, Financial), comprising 1,319,856 shares or approximately 1.04% of the portfolio, valued at $255.87 million.
- Accenture PLC (ACN, Financial), with 296,831 shares, accounting for 0.42% of the portfolio and valued at $104.92 million.
Key Position Increases
The firm also increased its stakes in 50 existing holdings, with significant boosts in:
- ConocoPhillips (COP, Financial), with an additional 1,101,685 shares, bringing the total to 6,811,289 shares. This adjustment represents a 19.3% increase in share count and a 0.47% impact on the current portfolio, valued at $717.09 million.
- International Paper Co (IP, Financial), with an additional 2,354,341 shares, bringing the total to 4,235,846 shares. This adjustment represents a 125.13% increase in share count, valued at $206.92 million.
Summary of Sold Out Positions
Diamond Hill Capital (Trades, Portfolio) exited five positions entirely in the third quarter of 2024, including:
- Honeywell International Inc (HON, Financial), where all 1,133,956 shares were sold, impacting the portfolio by -1.04%.
- Douglas Emmett Inc (DEI, Financial), with all 1,931,487 shares liquidated, causing a -0.11% impact on the portfolio.
Key Position Reductions
Additionally, the firm reduced its holdings in 98 stocks. The most significant reductions were:
- Chevron Corp (CVX, Financial) by 1,920,644 shares, resulting in an -85.42% decrease in shares and a -1.28% impact on the portfolio. The stock traded at an average price of $148.84 during the quarter and has returned 4.77% over the past three months and 6.55% year-to-date.
- Alphabet Inc (GOOGL, Financial) by 1,470,709 shares, resulting in a -76.72% reduction in shares and a -1.14% impact on the portfolio. The stock traded at an average price of $167.74 during the quarter and has returned 1.88% over the past three months and 21.68% year-to-date.
Portfolio Overview
As of the third quarter of 2024, Diamond Hill Capital (Trades, Portfolio)'s portfolio included 176 stocks. The top holdings were 4.05% in American International Group Inc (AIG, Financial), 3.08% in Abbott Laboratories (ABT, Financial), 2.9% in ConocoPhillips (COP, Financial), 2.74% in Bank of America Corp (BAC, Financial), and 2.6% in Texas Instruments Inc (TXN, Financial). The holdings are predominantly concentrated across 11 industries, reflecting a diverse yet focused investment strategy.
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.
