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 Comcast Corporation (NASDAQ:CMCSA) in its Q4 2022 investor letter. Headquartered in Philadelphia, Pennsylvania, Comcast Corporation (NASDAQ:CMCSA) is a media and technology company. On February 15, 2023, Comcast Corporation (NASDAQ:CMCSA) stock closed at $39.42 per share. One-month return of Comcast Corporation (NASDAQ:CMCSA) was 2.98%, and its shares lost 18.03% of their value over the last 52 weeks. Comcast Corporation (NASDAQ:CMCSA) has a market capitalization of $166.197 billion.
Diamond Hill Large Cap Strategy made the following comment about Comcast Corporation (NASDAQ:CMCSA) in its Q4 2022 investor letter:
“We eliminated our positions in financial services technology company Fidelity National Information Services and media and technology company Comcast Corporation (NASDAQ:CMCSA). With Comcast, uncertainty surrounding broadband growth due to rising competition and lower market activity, as well as the continued deterioration of the traditional media business, led to a less attractive risk/ reward tradeoff and we chose to reallocate that capital to more attractive ideas.”
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Comcast Corporation (NASDAQ:CMCSA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 73 hedge fund portfolios held Comcast Corporation (NASDAQ:CMCSA) at the end of the third quarter, which was 75 in the previous quarter.
We discussed Comcast Corporation (NASDAQ:CMCSA) in another article and shared the list of least innovative companies that are still in business today. In addition, please check out our hedge fund investor letters Q4 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.