Published on 29 Feb 2024 on Insider Monkey via Yahoo Finance
Diamond Hill Capital, an investment management company, released its “Large Cap Strategy” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy trailed the Russell 1000 Index for Q4 and underperformed for the calendar year. In Q4, both the fund’s below-benchmark weighting and individual holdings underperformed index peers, resulting in relative weakness in the technology exposure for both the full year and the quarter. In addition, overweight exposure to the weak energy sector detracted from the relative results, along with healthcare holdings. Financial holdings and over-benchmark allocation boosted performance. Positive stock picks in real estate and consumer staples sectors also contributed. The strategy returned 11.39% (net) in Q4 compared to 11.96% for the Russell 1000 Index. For the full year, the strategy returned 13.68% (net) compared to a 26.53% return for the index. In addition, you can check the top 5 holdings of the strategy to know its best picks in 2023.
Diamond Hill Large Cap Strategy featured stocks like The Allstate Corporation (NYSE:ALL) in the Q4 2023 investor letter. Headquartered in Northbrook, Illinois, The Allstate Corporation (NYSE:ALL) is an insurance company that provides property and casualty, and other insurance products. On February 28, 2024, The Allstate Corporation (NYSE:ALL) stock closed at $160.59 per share. One-month return of The Allstate Corporation (NYSE:ALL) was 2.82%, and its shares gained 27.17% of their value over the last 52 weeks. The Allstate Corporation (NYSE:ALL) has a market capitalization of $42.246 billion.
Diamond Hill Large Cap Strategy stated the following regarding The Allstate Corporation (NYSE:ALL) in its fourth quarter 2023 investor letter: