Diamond Hill Capital, an investment management company, released its “Large Cap Concentrated Fund” fourth-quarter 2024 investor letter. A copy of the letter can be downloaded here. Q4 saw an uneven increase in markets, capping off yet another strong year for the markets. Stocks broadly increased after the US election, but some gave up most or all of those gains before the end of the year. Against this backdrop, the portfolio trailed the Russell 1000 Index in Q4 and for the full year. The fund returned -2.00% (net) in Q4 vs 2.75% for the index. For the full year, the fund returned 14.24% compared to 24.51% for the index. In addition, you can check the top 5 holdings of the strategy to know its best picks in 2024.
In its fourth quarter 2024 investor letter, Diamond Hill Large Cap Concentrated Fund emphasized stocks such as General Motors Company (NYSE:GM). General Motors Company (NYSE:GM) is an automobile manufacturer. The one-month return of General Motors Company (NYSE:GM) was -0.06%, and its shares gained 18.42% of their value over the last 52 weeks. On March 14, 2025, General Motors Company (NYSE:GM) stock closed at $48.34 per share with a market capitalization of $48.098 billion.
Diamond Hill Large Cap Concentrated Fund stated the following regarding General Motors Company (NYSE:GM) in its Q4 2024 investor letter:
“Among our top individual contributors in Q4 were General Motors and Amazon. Automobile manufacturer General Motors Company (NYSE:GM) has allocated its capital well, repurchasing shares at a high rate and creating significant shareholder value. With a strong balance sheet, the company is well positioned to continue driving shareholder value for the foreseeable future. Further, there is some investor optimism about GM’s profitability as EV demand has stalled.”
A factory worker using an ultra-sensitive pixel-based sensor while working on an automobile.
General Motors Company (NYSE:GM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 68 hedge fund portfolios held General Motors Company (NYSE:GM) at the end of the fourth quarter compared to 64 in the third quarter. While we acknowledge the potential of General Motors Company (NYSE:GM) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed General Motors Company (NYSE:GM) and shared the list of best dividend stocks that are incredibly cheap. In addition, please check out our hedge fund investor letters Q4 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.