Diamond Hill Capital Long-Short Fund’s Q1 2024 Investor Letter

Diamond Hill Capital, an investment management company, released its “Long-Short Fund” first-quarter 2024 investor letter. The portfolio achieved positive returns in Q4 but trailed the Russell 1000 Index and outperformed the blended benchmark (60% Russell 1000 Index/40% Bloomberg US Treasury Bills 1-3 Month Index). The short positions didn’t perform as well as the index, giving a relative tailwind to the performance. The long positions in financials and communication services also contributed to relative strength. On the other hand, long holdings in health care and industrials were positive on an absolute basis but lagged behind benchmark peers, which hindered relative performance in Q1. In addition, you may look at the fund’s top 5 holdings to learn about its best picks in 2024.

A copy of Diamond Hill Capital Long-Short Fund’s Q1 2024 investor letter can be downloaded here.