Diamond Hill Capital, an investment management company, released its “Large Cap Strategy” first-quarter 2024 investor letter. A copy of the letter can be downloaded here. Markets rose significantly in the first quarter of 2024, providing positive returns across most regions and countries. The strategy outperformed the Russell 1000 Index in Q1 and returned 10.64% (net) vs 10.30% for the index. In addition, you can check the top 5 holdings of the strategy to know its best picks in 2024.
Diamond Hill Large Cap Strategy highlighted stocks like HCA Healthcare, Inc. (NYSE:HCA) in the first quarter 2024 investor letter. HCA Healthcare, Inc. (NYSE:HCA) owns and operates hospitals and related healthcare entities. HCA Healthcare, Inc.’s (NYSE:HCA) one-month return was 5.80%, and its shares gained 22.68% of their value over the last 52 weeks. On June 3, 2024, HCA Healthcare, Inc. (NYSE:HCA) stock closed at $332.70 per share with a market capitalization of $87.139 billion.
Diamond Hill Large Cap Strategy stated the following regarding HCA Healthcare, Inc. (NYSE:HCA) in its first quarter 2024 investor letter:
“Among our top individual contributors in Q1 were American International Group (AIG) and HCA Healthcare, Inc. (NYSE:HCA). Health care facilities operator HCA Healthcare benefited from a strong demand environment for hospitals in Q4, which is expected to continue into 2024 as nursing labor costs normalize and companies are able to improve margins tied to above-average physician costs. As a best-in-class operator with unique assets in favorable geographies, we believe the outlook for HCA Healthcare from here is favorable.”
A healthcare professional working on a computer terminal with a patient in the background.
HCA Healthcare, Inc. (NYSE:HCA) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 72 hedge fund portfolios held HCA Healthcare, Inc. (NYSE:HCA) at the end of the first quarter which was 72 in the previous quarter. HCA Healthcare, Inc.’s (NYSE:HCA) revenues increased by 11.2% during the quarter compared to the previous year, demonstrating a robust top-line growth.
In another article, we discussed HCA Healthcare, Inc. (NYSE:HCA) and shared the list of stocks Michael Burry has 42% of his portfolio invested in. Oakmark Equity and Income Fund sold its stake in HCA Healthcare, Inc. (NYSE:HCA) in the first quarter 2024(see the details here). In addition, please check out our hedge fund investor letters Q1 2024 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.
