Diamond Hill Capital, an investment management company, released its “Mid Cap Strategy” third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -4.67% net of fees compared to a -3.44% return for the Russell Midcap Index. Portfolio holdings in technology, industrials, and consumer discretionary sectors hindered the strategy’s performance in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Diamond Hill Capital discussed stocks like Lancaster Colony Corporation (NASDAQ:LANC) in the Q3 2022 investor letter. Based in Westerville, Ohio, Lancaster Colony Corporation (NASDAQ:LANC) is a food company that operates in Retail and Foodservice segments. On October 25, 2022, Lancaster Colony Corporation (NASDAQ:LANC) stock closed at $176.01 per share. One-month return of Lancaster Colony Corporation (NASDAQ:LANC) was 12.70% and its shares gained 1.64% of their value over the last 52 weeks. Lancaster Colony Corporation (NASDAQ:LANC) has a market capitalization of $4.85 billion.
Diamond Hill Capital made the following comment about Lancaster Colony Corporation (NASDAQ:LANC) in its Q3 2022 investor letter:
“Other top contributors included Lancaster Colony Corporation (NASDAQ:LANC), Webster Financial and BOK Financial. Lancaster Colony is a manufacturer and marketer of specialty food products for the retail and foodservice markets and is the parent of the well-known T. Marzetti Company. The company’s recent operating results were highlighted by continued strength and market share gains in its legacy retail business and strong contributions from its licensed sauces.”
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Lancaster Colony Corporation (NASDAQ:LANC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 17 hedge fund portfolios held Lancaster Colony Corporation (NASDAQ:LANC) at the end of the second quarter which was 17 in the previous quarter.
We discussed Lancaster Colony Corporation (NASDAQ:LANC) in another article and shared Diamond Hill Capital’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 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.