Here’s Why Diamond Hill Capital Initiated Position in SVB Financial Group (SIVB)

Diamond Hill Capital, an investment advisor, released its “All Cap Select Strategy” second quarter 2022 investor letter. A copy of the same can be downloaded here. The fund performed on par with the Russell 3000 Index in the second quarter. The technology sector and consumer staples contributed positively to the fund’s performance in the quarter, while consumer discretionary and industrials sectors underperformed. In addition, you can check the top 5 holdings of the fund to know its best choices in 2022.

Diamond Hill Capital discussed stocks like SVB Financial Group (NASDAQ:SIVB) in the second quarter 2022 investor letter. Headquartered in Santa Clara, California, SVB Financial Group (NASDAQ:SIVB) is a financial services company. On October 3, 2022, SVB Financial Group (NASDAQ:SIVB) stock closed at $354.89 per share. One-month return of SVB Financial Group (NASDAQ:SIVB) was -7.49% and its shares lost 46.66% of their value over the last 52 weeks. SVB Financial Group (NASDAQ:SIVB) has a market capitalization of $20.968 billion.

Here is what Diamond Hill Capital specifically said about SVB Financial Group (NASDAQ:SIVB) in its Q2 2022 investor letter:

SVB Financial Group (NASDAQ:SIVB) is the leading bank for the innovation economy serving early-stage companies and capital providers. It’s a company we know well and have followed for several years. SVB has grown tremendously over the years to round out its services to include investment banking and, more recently, wealth management.”

Image by Nattanan Kanchanaprat from Pixabay

SVB Financial Group (NASDAQ:SIVB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 31 hedge fund portfolios held SVB Financial Group (NASDAQ:SIVB) at the end of the second quarter which was 34 in the previous quarter.

We discussed SVB Financial Group (NASDAQ:SIVB) in another article and shared Diamond Hill Capital’s views on the company. In addition, please check out our hedge fund investor letters Q2 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.

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