Diamond Hill Capital Management’s Q3 2022 vs. Q4 2022: Analyzing Top Holdings Shifts

Diamond Hill Capital Management, a registered investment advisor, recently released its latest 13F report for Q4 2022, which disclosed its holdings as of December 31, 2022. This report noted significant changes in the fund's holdings compared to the prior quarter, Q3 2022.

In this article, we will analyze the top holdings shifts of Diamond Hill Capital Management from Q3 to Q4 2022, highlighting the stocks in which the fund has increased or decreased its investment.

Top Diamond Hill Capital Management Increases in Holdings

One of the top holdings of Diamond Hill Capital Management is Truist Financial Corp. (TFC). In Q3 2022, TFC had 10.09% of the portfolio, which increased to 12.33% in Q4 2022. The fund bought an additional 2,054,942 TFC shares, an 19.76% increase. The total value of the investment in TFC increased from $475,725,000 in Q3 2022 to $562,836,000 in Q4 2022, a change of 18.34%.

Another major holding of Diamond Hill Capital Management is Caterpillar, Inc. (CAT). In Q3 2022, CAT had 8.61% of the portfolio, which increased to 10.09% in Q4 2022. The fund bought an additional 12,853,530 CAT shares, a 38.51% increase. The total value of the investment in CAT increased from $310,872,000 in Q3 2022 to $423,088,000 in Q4 2022, a change of 36.06%.

Diamond Hill Capital Management also increased its stake in Bank of America Corp. (BAC), which had 11.78% of the portfolio in Q3 2022, increasing to 11.94% in Q4 2022. The fund bought 3.79% more BAC shares, which translates to 379,356 additional shares added to their portfolio. The total value of the investment in BAC increased from $491,991,000 in Q3 2022 to $552,125,000 in Q4 2022, a change of 12.22%.

Top Diamond Hill Capital Management Decreases in Holdings

Diamond Hill Capital Management decreased its position in SBA Communications Corp. (SBAC) in Q4 2022, which declined from 8.18% of the portfolio in Q3 2022 to 3.16% in Q4 2022. The fund sold approximately 32,416 shares, reflecting a decrease of 5.49%. The total value of the investment in SBAC declined from $167,726,000 in Q3 2022 to $165,973,000 in Q4 2022, a change of -1.05%.

Another company, Amazon.com, Inc. (AMZN), fell out of Diamond Hill Capital Management's top holdings in Q4 2022, with 2.62% of the portfolio, down from 3.97% in Q3 2022. The fund sold 95,478 shares, reflecting a decrease of 1.06%. The total value of the investment in AMZN declined from $365,359,000 in Q3 2022 to $339,347,000 in Q4 2022, a change of -7.12%.

Lastly, SVB Financial Group (SIVB) was another company that experienced a decrease in Diamond Hill Capital Management's holdings in Q4 2022 declining to 1.22% of the portfolio, down from 3.44% in Q3 2022. The fund sold approximately 570,021 shares, reflecting a decrease of 59.60%. The total value of the investment in SIVB decreased from $321,199,000 in Q3 2022 to $88,961,000 in Q4 2022, a change of -72.30%.

Conclusion

Diamond Hill Capital Management made significant changes to its holdings in Q4 2022, with TFC, CAT, and BAC being some of the top holdings for the fund. On the other hand, the fund also decreased its holdings in SIVB, AMZN, and SBAC. It is important to note that these changes might not represent the complete picture or the current investment strategy of Diamond Hill Capital Management, as 13F filings are made only quarterly and are subject to various limitations and restrictions.