Diamond Hill Capital, an investment management company, released its “All Cap Select Strategy” third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -3.52% net of fees compared to a -4.46% return for the Russell 3000 Index. The strategy’s outperformance in the quarter was attributed to the performance of holdings in the consumer staples and financials sectors. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Diamond Hill highlighted stocks like SunOpta Inc. (NASDAQ:STKL) in the Q3 2022 investor letter. Headquartered in Eden Prairie, Minnesota, SunOpta Inc. (NASDAQ:STKL) manufactures and distributes food-based and plant-based foods and beverages. On November 15, 2022, SunOpta Inc. (NASDAQ:STKL) stock closed at $8.20 per share. One-month return of SunOpta Inc. (NASDAQ:STKL) was -18.00% and its shares gained 20.94% of their value over the last 52 weeks. SunOpta Inc. (NASDAQ:STKL) has a market capitalization of $884.509 million.
Diamond Hill made the following comment about SunOpta Inc. (NASDAQ:STKL) in its Q3 2022 investor letter:
“On an individual holdings basis, top contributors to return included WESCO International, Mr. Cooper Group and SunOpta Inc. (NASDAQ:STKL). SunOpta is a leading global company focused on natural food, ingredient sourcing, organic food and specialty foods. Revenue growth has been driven by strong demand for its plant-based products, and the company’s pricing power has mitigated the impact of inflation.”
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SunOpta Inc. (NASDAQ:STKL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 20 hedge fund portfolios held SunOpta Inc. (NASDAQ:STKL) at the end of the third quarter which was 21 in the previous quarter.
We discussed SunOpta Inc. (NASDAQ:STKL) in another article and shared Diamond Hill’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.