Diamond Hill Capital, an investment management firm, published its “Diamond Hill Large Cap Fund” first-quarter 2022 investor letter – a copy of which can be downloaded here. During a volatile quarter, Diamond Hill Large Cap Fund held up better than the Russell 1000 Index by a decent margin in Q1. After a strong rebound in 2021, global GDP growth is expected to moderate in 2022. Try to take some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022.
In its Q1 2022 investor letter, Diamond Hill Large Cap Fund mentioned ConocoPhillips (NYSE:COP) and explained its insights for the company. Founded in 2002, ConocoPhillips (NYSE:COP) is a Houston, Texas-based natural gas liquids company with a $107.4 billion market capitalization. ConocoPhillips (NYSE:COP) delivered a 15.14% return since the beginning of the year, while its 12-month returns are up by 44.11%. The stock closed at $83.11 per share on July 13, 2022.
Here is what Diamond Hill Large Cap Fund has to say about ConocoPhillips (NYSE:COP) in its Q1 2022 investor letter:
“We redeployed capital into ConocoPhillips (NYSE:COP), which was trading at a discount to our estimate of intrinsic value and is well positioned over the long run due to its low-risk asset base.”
Oil, Gas
Our calculations show that ConocoPhillips (NYSE:COP) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. ConocoPhillips (NYSE:COP) was in 67 hedge fund portfolios at the end of the first quarter of 2022, compared to 56 funds in the previous quarter. ConocoPhillips (NYSE:COP) delivered a -17.08% return in the past 3 months.
In April 2022, we also shared another hedge fund’s views on ConocoPhillips (NYSE:COP) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.
Disclosure: None. This article is originally published at Insider Monkey.
