Diamond Hill Capital, an investment management company, released its “Large Cap Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy returned 10.96% net in the fourth quarter compared to a 7.24% return for the Russell 1000 Index. Holdings in the technology and consumer discretionary sectors helped the strategy to outperform in the quarter. The strategy returned better than the index during 2022 but still declined by double digits. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Diamond Hill Large Cap Strategy highlighted stocks like Dominion Energy, Inc. (NYSE:D) in its Q4 2022 investor letter. Headquartered in Richmond, Virginia, Dominion Energy, Inc. (NYSE:D) produces and distributes energy in the United States. On February 15, 2023, Dominion Energy, Inc. (NYSE:D) stock closed at $58.25 per share. One-month return of Dominion Energy, Inc. (NYSE:D) was -5.76%, and its shares lost 25.96% of their value over the last 52 weeks. Dominion Energy, Inc. (NYSE:D) has a market capitalization of $48.538 billion.
Diamond Hill Large Cap Strategy made the following comment about Dominion Energy, Inc. (NYSE:D) in its Q4 2022 investor letter:
“Other bottom contributors included media and technology giant Alphabet, apparel and footwear company V.F. Corporation and utility operator Dominion Energy, Inc. (NYSE:D). Dominion Energy’s stock price weakness was due in part to regulatory concerns surrounding its triennial rate review process and its offshore wind program. Additionally, management highlighted cost pressures, which could hamper growth rates. We believe these headwinds are short-term in nature and continue to hold our position.”
Photo by Max Bender on Unsplash
Dominion Energy, Inc. (NYSE:D) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 29 hedge fund portfolios held Dominion Energy, Inc. (NYSE:D) at the end of the third quarter, which was 30 in the previous quarter.
We discussed Dominion Energy, Inc. (NYSE:D) in another article and shared the list of biggest nuclear energy and reactor companies in the world. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 12 Most Profitable Utility Stocks
- 11 High Growth Utility Stocks to Buy
- George Soros’ Top 15 Holdings
Disclosure: None. This article is originally published at Insider Monkey.