HUM - Diamond Hill Select Fund Q1 2024 Market Commentary
2024-05-16 00:20:00 ET
Summary
- Diamond Hill invests on behalf of clients through a shared commitment to its valuation-driven investment principles, long-term perspective, capacity discipline and client alignment.
- Our portfolio advanced double digits in Q1, outperforming the Russell 3000 Index.
- Among our top individual contributors in Q1 were Red Rock Resorts and Regal Rexnord.
- Equity markets continued higher in Q1 as the economy and earnings growth remained robust.
Market Commentary
In a volatile first quarter of 2024, markets moved choppily higher, delivering positive returns across most regions and countries. US stocks rose +10% (as measured by the Russell 3000 Index), led by large-cap stocks, which were likewise up just over +10%, followed by mid caps (+9%) and small caps (+5%), as measured by their respective Russell indices. From a style perspective, growth continued leading - as it has for the last several quarters. Large-cap growth rose more than +11%, while value was up just shy of +9%; mid-cap growth gained over +9% versus mid-cap value up +8%; and small- cap growth delivered shy of +8%, while small-cap value rose less than +3% (all returns as measured by the respective Russell indices)....
Diamond Hill Select Fund Q1 2024 Market Commentary