Here’s Why American International Group (AIG) Outperformed in Q4

Diamond Hill Capital, an investment management company, released its “Large Cap Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy returned 10.96% net in the fourth quarter compared to a 7.24% return for the Russell 1000 Index. Holdings in the technology and consumer discretionary sectors helped the strategy to outperform in the quarter. The strategy returned better than the index during 2022 but still declined by double digits. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Diamond Hill Large Cap Strategy highlighted stocks like American International Group, Inc. (NYSE:AIG) in the fourth quarter investor letter. Headquartered in New York, New York, American International Group, Inc. (NYSE:AIG) is an insurance products provider. On February 14, 2023, American International Group, Inc. (NYSE:AIG) stock closed at $61.52 per share. One-month return of American International Group, Inc. (NYSE:AIG) was -1.11%, and its shares gained 1.96% of their value over the last 52 weeks. American International Group, Inc. (NYSE:AIG) has a market capitalization of $45.708 billion.

Diamond Hill Large Cap Strategy made the following comment about American International Group, Inc. (NYSE:AIG) in its Q4 2022 investor letter:

“In Q4, our top contributors to return included insurance company American International Group, Inc. (NYSE:AIG), construction machinery manufacturer Caterpillar and oil and gas producer ConocoPhillips — these stocks were also among our top contributors for the full year. AIG continued to report strong progress in its multi-year turnaround. The company’s property and casualty underwriting margin expanded for the 17th straight quarter. In addition, AIG completed the IPO of a portion of its Life and Retirement business, an important step towards a complete separation of the businesses.”

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American International Group, Inc. (NYSE:AIG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 48 hedge fund portfolios held American International Group, Inc. (NYSE:AIG) at the end of the third quarter, which was 44 in the previous quarter.

We discussed American International Group, Inc. (NYSE:AIG) in another article and shared Third Point Management’s views on the company. For more top stocks. In addition, please check out our hedge fund investor letters Q4 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.