Diamond Hill Capital, an investment management company, released its “Long-Short Fund” third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -5.25% compared to a -4.61% return for the Russell 1000 Index. Even though the fund’s short book trailed the Russell 1000 Index, it still added positive returns. On the other hand, weakness in consumer discretionary and communication services holdings dragged the performance of the long book of the fund 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 highlighted stocks like AMN Healthcare Services, Inc. (NYSE:AMN) in the Q3 2022 investor letter. Headquartered in Dallas, Texas, AMN Healthcare Services, Inc. (NYSE:AMN) is a healthcare workforce solutions and staffing services provider. On November 29, 2022, AMN Healthcare Services, Inc. (NYSE:AMN) stock closed at $122.01 per share. One-month return of AMN Healthcare Services, Inc. (NYSE:AMN) was 0.18%, and its shares gained 9.47% of their value over the last 52 weeks. AMN Healthcare Services, Inc. (NYSE:AMN) has a market capitalization of $5.287 billion.
Diamond Hill Capital made the following comment about AMN Healthcare Services, Inc. (NYSE:AMN) in its Q3 2022 investor letter:
“New positions initiated in Q3 included Ciena Corporation (long), AMN Healthcare Services, Inc. (NYSE:AMN) (short), CBIZ Inc (short), Asana (short) and Palomar (short). AMN Healthcare Services provides workforce solutions and staffing services at healthcare facilities. An unstable healthcare employment environment is driving pricing and volume growth for contract labor, which we believe is unsustainable.”
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AMN Healthcare Services, Inc. (NYSE:AMN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 33 hedge fund portfolios held AMN Healthcare Services, Inc. (NYSE:AMN) at the end of the third quarter, which was 26 in the previous quarter.
We discussed AMN Healthcare Services, Inc. (NYSE:AMN) in another article and shared Polen Capital’s views on the company. 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.