Diamond Hill Investments released their Q2 portfolio today. This is an investment firm that is traded publicly. They manage small cap, small-mid cap and large cap strategies, and hedged strategies.
Diamond Hill is heavily invested in health care and energy stocks. This is what they wrote about energy stocks in their second quarter review:
“Our exposure to the energy sector detracted from second quarter results. However, our long-term secular thesis for energy remains intact, due to the continued tight conditions in worldwide supply and demand for oil and the belief that natural gas will be an increasingly
important fuel for the foreseeable future. In our Long-Short strategy, short positions in the consumer discretionary sector contributed positively to results in the second quarter after rising painfully faster than the overall market in the first quarter. Again, our long-term secular thesis is unchanged. We continue to believe that consumer discretionary spending will likely face secular headwinds for the foreseeable future, due to high unemployment rates, household deleveraging, and tax increases. Finally, we expect economic challenges as a result of the removal of fiscal and monetary stimulus in the coming years.”
Diamond Hill Capital bought more stocks in the first quarter than they sold. Diamond Hill Capital Management Inc. Diamond Hill Capital owns 131 stocks with a total value of $5.7 billion. These are the details of the buys and sells.
This is the sector weightings of his portfolio:
These are the top 5 holdings of Diamond Hill Capital
3M Company is a diversified technology company with positions in consumer and office; display and graphics; electronics and telecommunications; health care; industrial; safety, security and protection services; transportation and other businesses. 3m Company has a market cap of $58.61 billion; its shares were traded at around $82.19 with a P/E ratio of 15.6 and P/S ratio of 2.5. The dividend yield of 3m Company stocks is 2.6%. 3m Company had an annual average earning growth of 10.3% over the past 10 years. GuruFocus rated 3m Company the business predictability rank of 3.5-star.
J.P. Morgan Chase & Co. is a global financial services firm. Jpmorgan Chase & Co. has a market cap of $157.68 billion; its shares were traded at around $39.63 with a P/E ratio of 11.8 and P/S ratio of 1.5. The dividend yield of Jpmorgan Chase & Co. stocks is 0.5%.
Merck & Co., Inc. is a global research-driven pharmaceutical company dedicated to putting patients first. Merck & Co. Inc. has a market cap of $111.2 billion; its shares were traded at around $35.66 with a P/E ratio of 10.7 and P/S ratio of 4.1. The dividend yield of Merck & Co. Inc. stocks is 4.2%.
KLA-Tencor Corporation is one of the world's suppliers of process control and yield management solutions for the semiconductor and related microelectronics industries. Klatencor Corp. has a market cap of $5.18 billion; its shares were traded at around $30.46 with a P/E ratio of 40.6 and P/S ratio of 3.4. The dividend yield of Klatencor Corp. stocks is 2%.
St. Paul Travelers is a provider of commercial property-liability insurance and asset management services. The Travelers Companies Inc. has a market cap of $24.94 billion; its shares were traded at around $50.35 with a P/E ratio of 8.1 and P/S ratio of 1. The dividend yield of The Travelers Companies Inc. stocks is 2.9%.
Energizer Holdings is the world's largest manufacturer of primary batteries and flashlights and a global leader in the dynamic business of providing portable power. Energizer Holdings Inc. has a market cap of $3.75 billion; its shares were traded at around $53.5 with a P/E ratio of 10.2 and P/S ratio of 0.9. Energizer Holdings Inc. had an annual average earning growth of 18.5% over the past 10 years. GuruFocus rated Energizer Holdings Inc. the business predictability rank of 4.5-star.
Arch Capital Group Ltd. is a diversified financial services holding company, with an emphasis on the insurance sector. Arch Capital Group Ltd. has a market cap of $3.8 billion; its shares were traded at around $76.5 with a P/E ratio of 8 and P/S ratio of 1.1. Arch Capital Group Ltd. had an annual average earning growth of 26.1% over the past 10 years.
Assured Guaranty is a Bermuda-based holding company providing credit enhancement products to the municipal finance, structured finance and mortgage markets. Assured Guaranty Ltd. has a market cap of $2.87 billion; its shares were traded at around $15.54 with a P/E ratio of 10.7 and P/S ratio of 2.4. The dividend yield of Assured Guaranty Ltd. stocks is 1.2%.
Flowers Foods, Inc. is one of the largest producers and marketers of a full line of frozen and non-frozen bakery and dessert products in the United States. Flowers Foods Inc. has a market cap of $2.25 billion; its shares were traded at around $24.55 with a P/E ratio of 17.3 and P/S ratio of 0.9. The dividend yield of Flowers Foods Inc. stocks is 3.3%. Flowers Foods Inc. had an annual average earning growth of 13.8% over the past 10 years.
Pfizer Inc is a research-based, global pharmaceutical company that discovers and develops innovative, value-added products that improve the quality of life of people around the world and help them enjoy longer, healthier, and more productive lives. Pfizer Inc has a market cap of $117.36 billion; its shares were traded at around $14.55 with a P/E ratio of 7 and P/S ratio of 2.4. The dividend yield of Pfizer Inc stocks is 5%. Pfizer Inc had an annual average earning growth of 1.8% over the past 10 years.
Abbott Laboratories is a global, broad-based health care company devoted to discovering new medicines, new technologies and new ways to manage health. Abbott Laboratories has a market cap of $73.27 billion; its shares were traded at around $47.47 with a P/E ratio of 12.4 and P/S ratio of 2.4. The dividend yield of Abbott Laboratories stocks is 3.7%. Abbott Laboratories had an annual average earning growth of 7.3% over the past 10 years. GuruFocus rated Abbott Laboratories the business predictability rank of 4.5-star.
Apache Corporation is an independent energy company that explores for, develops and produces natural gas, crude oil and natural gas liquids. Apache Corp. has a market cap of $29.77 billion; its shares were traded at around $88.28 with a P/E ratio of 12.7 and P/S ratio of 3.5. The dividend yield of Apache Corp. stocks is 0.7%. Apache Corp. had an annual average earning growth of 16.6% over the past 10 years. GuruFocus rated Apache Corp. the business predictability rank of 3-star.
Johnson & Johnson is engaged in the manufacture and sale of a broad range of products in the health care field in many countries of the world. Johnson & Johnson has a market cap of $161.57 billion; its shares were traded at around $58.58 with a P/E ratio of 12.6 and P/S ratio of 2.7. The dividend yield of Johnson & Johnson stocks is 3.7%. Johnson & Johnson had an annual average earning growth of 10.8% over the past 10 years. GuruFocus rated Johnson & Johnson the business predictability rank of 4.5-star.
Medtronic is the world's medical technology company, pioneeringdevice-based therapies that restore health, extend life and alleviate pain. Medtronic Inc. has a market cap of $40.52 billion; its shares were traded at around $37.42 with a P/E ratio of 11.6 and P/S ratio of 2.5. The dividend yield of Medtronic Inc. stocks is 2.4%. Medtronic Inc. had an annual average earning growth of 11.5% over the past 10 years. GuruFocus rated Medtronic Inc. the business predictability rank of 4.5-star.
Anadarko Petroleum Corporation is one of the world's largest independentoil and gas exploration and production companies. Anadarko Petroleum Corp. has a market cap of $22.83 billion; its shares were traded at around $46.14 with a P/E ratio of 128.1 and P/S ratio of 2.5. The dividend yield of Anadarko Petroleum Corp. stocks is 0.8%. Anadarko Petroleum Corp. had an annual average earning growth of 12.8% over the past 10 years. GuruFocus rated Anadarko Petroleum Corp. the business predictability rank of 2-star.
U.S. Bancorp is a financial services holding company. U.s. Bancorp has a market cap of $44.38 billion; its shares were traded at around $23.15 with a P/E ratio of 21.9 and P/S ratio of 2.3. The dividend yield of U.s. Bancorp stocks is 0.9%. U.s. Bancorp had an annual average earning growth of 2.1% over the past 10 years.
Hornbeck Offshore provides technologically advanced, new generation OSVs serving the offshore oil and gas industry, primarily in the U. Hornbeck Offshore Services Inc. has a market cap of $433.3 million; its shares were traded at around $16.42 with a P/E ratio of 10.6 and P/S ratio of 1.1. Hornbeck Offshore Services Inc. had an annual average earning growth of 25.6% over the past 5 years.
King Pharmaceuticals, Inc. is a vertically integrated pharmaceutical company that manufactures, markets and sells primarily branded prescription pharmaceutical products. King Pharmaceuticals Inc. has a market cap of $2.13 billion; its shares were traded at around $8.55 with a P/E ratio of 8.8 and P/S ratio of 1.2.
Berry Petroleum Company is an independent energy company engaged in the production, development, acquisition, exploitation and exploration of crude oil and natural gas. Berry Petroleum Company has a market cap of $1.47 billion; its shares were traded at around $27.78 with a P/E ratio of 19.5 and P/S ratio of 2.5. The dividend yield of Berry Petroleum Company stocks is 1%. Berry Petroleum Company had an annual average earning growth of 26.2% over the past 10 years. GuruFocus rated Berry Petroleum Company the business predictability rank of 5-star.
Global Sources Ltd. is one of the world's largest and most trusted neutral enablers of global merchandise trade. Global Sources Ltd. has a market cap of $370.2 million; its shares were traded at around $8.29 with a P/E ratio of 20.2 and P/S ratio of 2.1. Global Sources Ltd. had an annual average earning growth of 7.8% over the past 10 years.
The Brink's Company is a global leader in business and security services. The Brink's Company has a market cap of $952.7 million; its shares were traded at around $19.89 with a P/E ratio of 14.9 and P/S ratio of 0.3. The dividend yield of The Brink's Company stocks is 2.1%. The Brink's Company had an annual average earning growth of 13% over the past 10 years.
Wilmington Trust Corporation is a financial services holding company that provides wealth management and specialized corporate services to clients throughout the United States and in more than eighty five other countries, and commercial banking services throughout the Delaware Valley region. Wilmington Trust Corp. has a market cap of $1.02 billion; its shares were traded at around $11.21 with and P/S ratio of 1.3. The dividend yield of Wilmington Trust Corp. stocks is 0.4%.
Liquidity Services, Inc. is a online auction marketplace for wholesale, surplus and salvage assets. Liquidity Services Inc. has a market cap of $377 million; its shares were traded at around $13.96 with a P/E ratio of 36.7 and P/S ratio of 1.6.
Forest Laboratories, Inc. and its subsidiaries develop, manufacture and sell both branded and generic forms of ethical drug products which require a physician's prescription, as well as non-prescription pharmaceuticalproducts sold over-the-counter. Forest Laboratories Inc. has a market cap of $8.5 billion; its shares were traded at around $28.1 with a P/E ratio of 7.9 and P/S ratio of 2. Forest Laboratories Inc. had an annual average earning growth of 12.9% over the past 10 years. GuruFocus rated Forest Laboratories Inc. the business predictability rank of 2-star.
First Niagara Financial Group, Inc. is a multi-bank holding company and is the parent of First Niagara Bank, Cortland Savings Bank and Cayuga Bank. First Niagara Financial Group Inc. has a market cap of $2.73 billion; its shares were traded at around $13.05 with a P/E ratio of 21 and P/S ratio of 4.4. The dividend yield of First Niagara Financial Group Inc. stocks is 4.3%. First Niagara Financial Group Inc. had an annual average earning growth of 6.5% over the past 10 years.
American Express Company is primarily engaged in the business of providing travel related services, financial advisory services and international banking services throughout the world. American Express Company has a market cap of $50.53 billion; its shares were traded at around $42.06 with a P/E ratio of 22.8 and P/S ratio of 2. The dividend yield of American Express Company stocks is 1.7%.
Sterling Bancorp is a bank holding company. Sterling provides a full range of financial products and services, including business and consumer loans, commercial and residential mortgage lending and brokerage, asset-based financing, accounts receivable management services, trade financing, equipment leasing, corporate and consumer deposit services, trust and estate administration and investment management services. Sterling Bancorp has a market cap of $240.2 million; its shares were traded at around $8.95 with a P/E ratio of 28 and P/S ratio of 1.6. The dividend yield of Sterling Bancorp stocks is 4%.
Discover Financial Services operates the Discover Card with more than fifty million cardmembers, the Discover Network with millions of merchant and cash access locations, and the Goldfish credit card business in the United Kingdom. Discover Financial Services has a market cap of $8.06 billion; its shares were traded at around $14.83 with a P/E ratio of 19.8 and P/S ratio of 0.8. The dividend yield of Discover Financial Services stocks is 0.6%.
Affiliated Managers Group Inc. is an asset management holding company which acquires majority interests in mid-sized investment management firms. Affiliated Managers Group Inc. has a market cap of $2.8 billion; its shares were traded at around $62.91 with a P/E ratio of 13.9 and P/S ratio of 3.3. Affiliated Managers Group Inc. had an annual average earning growth of 8% over the past 10 years.
MORGAN STANLEY is a preeminent global financial services firm that maintains market positions in each of its three primary businesses: securities; asset management; and credit services. Morgan Stanley has a market cap of $35.25 billion; its shares were traded at around $25.22 with and P/S ratio of 1.5. The dividend yield of Morgan Stanley stocks is 0.8%.
Hartford Financial Services is one of the nation's largest investment and insurance companies, offers a complete line of insurance and financial service products to customers all over the world. The Hartford Financial Services Group In has a market cap of $9.84 billion; its shares were traded at around $22.16 with a P/E ratio of 4.4 and P/S ratio of 0.4. The dividend yield of The Hartford Financial Services Group In stocks is 0.9%.
The First of Long Island Corporation is a one-bank holding company. First Of Long Island Corp. has a market cap of $182.1 million; its shares were traded at around $25.1 with a P/E ratio of 11.7 and P/S ratio of 2.5. The dividend yield of First Of Long Island Corp. stocks is 3.2%. First Of Long Island Corp. had an annual average earning growth of 8.6% over the past 10 years. GuruFocus rated First Of Long Island Corp. the business predictability rank of 3.5-star.
Air Products and Chemicals, Inc. has established an internationally recognized industrial gas and related industrial process equipment business, and developed strong positions as a producer of certain chemicals. Air Products And Chemicals Inc. has a market cap of $15.03 billion; its shares were traded at around $70.77 with a P/E ratio of 15.4 and P/S ratio of 1.8. The dividend yield of Air Products And Chemicals Inc. stocks is 2.7%. Air Products And Chemicals Inc. had an annual average earning growth of 7.5% over the past 10 years.
Exxon Mobil Corporation's principal business is energy, involving exploration for, and production of, crude oil and natural gas, manufacturing of petroleum products and transportation and sale of crudeoil, natural gas and petroleum products. Exxon Mobil Corp. has a market cap of $300.54 billion; its shares were traded at around $58.95 with a P/E ratio of 13.3 and P/S ratio of 1. The dividend yield of Exxon Mobil Corp. stocks is 3%. Exxon Mobil Corp. had an annual average earning growth of 11.2% over the past 10 years. GuruFocus rated Exxon Mobil Corp. the business predictability rank of 3.5-star.
Quest Diagnostics Inc., is the provider of diagnostic testing, information and services that patients and doctors need to make better healthcare decisions. Quest Diagnostics Inc. has a market cap of $8.99 billion; its shares were traded at around $49.95 with a P/E ratio of 12.8 and P/S ratio of 1.2. The dividend yield of Quest Diagnostics Inc. stocks is 0.8%. Quest Diagnostics Inc. had an annual average earning growth of 15.3% over the past 10 years. GuruFocus rated Quest Diagnostics Inc. the business predictability rank of 4-star.
Myriad Genetics, Inc. uses gene-based medicine to develop therapeutic and molecular diagnostic products. Myriad Genetics Inc. has a market cap of $1.48 billion; its shares were traded at around $15.13 with a P/E ratio of 11 and P/S ratio of 4.5.
Ralcorp Holdings, Inc. is primarily engaged in the manufacturing, distribution and marketing of private label and branded ready-to-eat cereal products and snacks, branded and private label crackers and cookies, and branded baby food and juices. Ralcorp Holdings Inc. has a market cap of $3.04 billion; its shares were traded at around $55.42 with a P/E ratio of 11.6 and P/S ratio of 0.8. Ralcorp Holdings Inc. had an annual average earning growth of 15.6% over the past 10 years. GuruFocus rated Ralcorp Holdings Inc. the business predictability rank of 3.5-star.
Kinetic Concepts Inc. is a global medical technology company with leadership positions in advanced wound care and therapeutic surfaces. Kinetic Concepts Inc. has a market cap of $2.58 billion; its shares were traded at around $35.95 with a P/E ratio of 8.9 and P/S ratio of 1.3. Kinetic Concepts Inc. had an annual average earning growth of 23% over the past 10 years. GuruFocus rated Kinetic Concepts Inc. the business predictability rank of 3.5-star.
Molson Coors Brewing Company is world's fifth-largest global brewer. Molson Coors Brewing Company has a market cap of $7.31 billion; its shares were traded at around $44.84 with a P/E ratio of 12.3 and P/S ratio of 1.6. The dividend yield of Molson Coors Brewing Company stocks is 2.5%.
Popular, Inc. is a diversified, publicly owned bank holding company. Popular Inc. has a market cap of $1.7 billion; its shares were traded at around $2.66 with and P/S ratio of 0.6.
First American Financial Corporation provides financial services through its Title Insurance and Services segment and its Specialty Insurance segment. The First American Corp. has a market cap of $1.41 billion; its shares were traded at around $13.59 . The dividend yield of The First American Corp. stocks is 0.5%.
XL Group plc, through its subsidiaries, is a global insurance and reinsurance company providing property, casualty, and specialty products to industrial, commercial, and professional firms, insurance companies and other enterprises on a worldwide basis. Xl Capital Ltd has a market cap of $5.96 billion; its shares were traded at around $17.43 with a P/E ratio of 7 and P/S ratio of 0.9. The dividend yield of Xl Capital Ltd stocks is 2.3%.
Linear Technology products include operational, instrumentation and audio amplifiers; voltage regulators, power management devices, DC-DC converters and voltage references; comparators; monolithic filters; communications interface circuits; one-chip data acquisition sub-systems; pulse-width modulators and sample-and-hold devices. Linear Technology Corp. has a market cap of $7.04 billion; its shares were traded at around $31.4 with a P/E ratio of 23.6 and P/S ratio of 7.2. The dividend yield of Linear Technology Corp. stocks is 2.9%. Linear Technology Corp. had an annual average earning growth of 9% over the past 10 years. GuruFocus rated Linear Technology Corp. the business predictability rank of 2.5-star.
iStar Financial Inc. is the publicly traded finance company focused on the commercial real estate industry. Istar Financial Inc. has a market cap of $380 million; its shares were traded at around $4.07 with and P/S ratio of 0.4.
BB&T Corporation is a multi-bank holding company. The company offers full-service commercial and retail banking and additional financial services such as insurance, corporate finance, international banking, leasing and trust. Bb&t Corp. has a market cap of $18.38 billion; its shares were traded at around $26.55 with a P/E ratio of 27.4 and P/S ratio of 1.7. The dividend yield of Bb&t Corp. stocks is 2.3%. Bb&t Corp. had an annual average earning growth of 0.1% over the past 10 years.
United Fire & Casualty Company is engaged in the business of writing property, casualty and life insurance. United Fire & Casualty Company has a market cap of $515.5 million; its shares were traded at around $19.55 with a P/E ratio of 44.4 and P/S ratio of 0.9. The dividend yield of United Fire & Casualty Company stocks is 3%.
RUDDICK CORP. is a diversified holding company which, through its subsidiaries, is in 4 primary businesses: Harris Teeter, Inc. Ruddick Corp. has a market cap of $1.62 billion; its shares were traded at around $33.25 with a P/E ratio of 16.2 and P/S ratio of 0.4. The dividend yield of Ruddick Corp. stocks is 1.5%. Ruddick Corp. had an annual average earning growth of 5.6% over the past 10 years. GuruFocus rated Ruddick Corp. the business predictability rank of 2-star.
LEUCADIA NATL is a diversified financial services holding companyprincipally engaged in personal and commercial lines of property and casualty insurance, life insurance, banking and lending and manufacturing. Leucadia National Corp. has a market cap of $4.97 billion; its shares were traded at around $20.43 with a P/E ratio of 5.9 and P/S ratio of 4.4.
Del Monte Foods manufactures and distributes premium quality, nutritiousfood products under Del Monte, Contadina and other brand names. Del Monte Foods Company has a market cap of $2.74 billion; its shares were traded at around $13.7 with a P/E ratio of 10.4 and P/S ratio of 0.7. The dividend yield of Del Monte Foods Company stocks is 1.4%. Del Monte Foods Company had an annual average earning growth of 1.5% over the past 5 years.
The Hain Celestial Group is a natural, specialty and snack food company. Hain Celestial Group Inc. has a market cap of $817.8 million; its shares were traded at around $19.97 with a P/E ratio of 18.1 and P/S ratio of 0.7.
Toro Company designs, manufactures and markets consumer and professional turf maintenance equipment, snow removal products and irrigation systems and provides landscaping and turf maintenance services. The Toro Company has a market cap of $1.64 billion; its shares were traded at around $50.57 with a P/E ratio of 21.7 and P/S ratio of 1.1. The dividend yield of The Toro Company stocks is 1.4%. The Toro Company had an annual average earning growth of 12.7% over the past 10 years. GuruFocus rated The Toro Company the business predictability rank of 2.5-star.
Exterran Holdings, Inc. is the global market leader in full service natural gas compression and a premier provider of sales, operations, maintenance, fabrication, service and equipment for oil and gas production, processing and transportation applications. Exterran Holdings Inc. has a market cap of $1.64 billion; its shares were traded at around $26 with a P/E ratio of 54.2 and P/S ratio of 0.6.
SunTrust Banks, Inc. is a commercial banking organization. Suntrust Banks Inc. has a market cap of $11.53 billion; its shares were traded at around $23.07 with and P/S ratio of 1.1. The dividend yield of Suntrust Banks Inc. stocks is 0.2%.
Cimarex Energy is an independent oil and gas exploration and production company focused on increasing shareholder value through strategies linked to generating attractive economic returns on capital employed and profitable growth in per-share reserves, production, and cash flow. Cimarex Energy Co. has a market cap of $6.27 billion; its shares were traded at around $74.71 with a P/E ratio of 17.4 and P/S ratio of 6.2. The dividend yield of Cimarex Energy Co. stocks is 0.4%.
Diamond Hill Financial Trends Fund Inc. has a market cap of $53.8 million; its shares were traded at around $8.54 . The dividend yield of Diamond Hill Financial Trends Fund Inc. stocks is 3.8%.
Comerica Inc. is a registered bank holding company. Comerica Inc. has a market cap of $6.49 billion; its shares were traded at around $36.81 with and P/S ratio of 2. The dividend yield of Comerica Inc. stocks is 0.5%.
B/E Aerospace, Inc. is the world's manufacturer of aircraft cabin interior products, serving virtually all the world's airlines and aircraft manufacturers. Be Aerospace Inc. has a market cap of $2.83 billion; its shares were traded at around $27.67 with a P/E ratio of 18.9 and P/S ratio of 1.4.
Lasalle Hotel Properties, which intends to operate as a real estate investment trust for federal income tax purposes, has been formed to own hotel properties and to continue and expand the hotel investment activities of LaSalle Partners Incorporated and certain of its affiliates collectively, LaSalle. Lasalle Hotel Properties has a market cap of $1.54 billion; its shares were traded at around $22.08 with a P/E ratio of 9.3 and P/S ratio of 2.6. The dividend yield of Lasalle Hotel Properties stocks is 0.2%. Lasalle Hotel Properties had an annual average earning growth of 2.4% over the past 10 years.
Analogic Corporation conceives, designs, manufactures, and sells standard and customized high-precision data acquisition, signal and imaging processing based medical imaging and industrial systems and subsystems. Analogic Corp. has a market cap of $573.9 million; its shares were traded at around $44.54 with a P/E ratio of 50.6 and P/S ratio of 1.5. The dividend yield of Analogic Corp. stocks is 0.9%. Analogic Corp. had an annual average earning growth of 24.9% over the past 5 years.
City National Corporation conducts its operations through its primary subsidiary City National Bank. City National Corp. has a market cap of $2.71 billion; its shares were traded at around $52.22 with a P/E ratio of 168.4 and P/S ratio of 2.7. The dividend yield of City National Corp. stocks is 0.8%.
Transocean LTD., formerly Transocean Inc., is an international provider of offshore contract drilling services for oil and gas wells. Transocean Inc. has a market cap of $15.68 billion; its shares were traded at around $49 with a P/E ratio of 5 and P/S ratio of 1.3. Transocean Inc. had an annual average earning growth of 22% over the past 10 years. GuruFocus rated Transocean Inc. the business predictability rank of 2-star.
Diamond Hill is heavily invested in health care and energy stocks. This is what they wrote about energy stocks in their second quarter review:
“Our exposure to the energy sector detracted from second quarter results. However, our long-term secular thesis for energy remains intact, due to the continued tight conditions in worldwide supply and demand for oil and the belief that natural gas will be an increasingly
important fuel for the foreseeable future. In our Long-Short strategy, short positions in the consumer discretionary sector contributed positively to results in the second quarter after rising painfully faster than the overall market in the first quarter. Again, our long-term secular thesis is unchanged. We continue to believe that consumer discretionary spending will likely face secular headwinds for the foreseeable future, due to high unemployment rates, household deleveraging, and tax increases. Finally, we expect economic challenges as a result of the removal of fiscal and monetary stimulus in the coming years.”
Diamond Hill Capital bought more stocks in the first quarter than they sold. Diamond Hill Capital Management Inc. Diamond Hill Capital owns 131 stocks with a total value of $5.7 billion. These are the details of the buys and sells.
- New Purchases: APD, BPOP, DGX, FAF, KCI, LLTC, MYGN, RAH, TAP, XL, XOM,
- Added Positions: ABT, ACGL, AGO, AMG, APA, APC, AXP, BCO, BRY, DFS, ENR, FLIC, FLO, FNFG, FRX, GSOL, HIG, HOS, JNJ, JPM, KG, KLAC, LQDT, MDT, MMM, MRK, MS, PFE, STL, TRV, USB, WL,
- Reduced Positions: BBT, DLM, EXH, HAIN, LUK, RDK, SFI, STI, TTC, UFCS, XEC,
- Sold Out: ALOG, BEAV, CMA, CYN, DHFT, LHO, RIG,
This is the sector weightings of his portfolio:
| Health Care | 18% |
| Oil & Gas | 17.2% |
| Financials | 16.8% |
| Industrials | 14.8% |
| Consumer Goods | 12.9% |
| Technology | 6.9% |
| Consumer Services | 6.8% |
| Utilities | 3.2% |
| Basic Materials | 1.7% |
These are the top 5 holdings of Diamond Hill Capital
- Apache Corp. (APA) - 2,534,781 shares, 3.73% of the total portfolio. Shares added by 3.72%
- Occidental Petroleum Corp. (OXY) - 2,690,696 shares, 3.63% of the total portfolio. Shares reduced by 1.98%
- Devon Energy Corp. (DVN) - 3,014,942 shares, 3.21% of the total portfolio. Shares added by 1.14%
- United Technologies Corp. (UTX) - 2,694,821 shares, 3.05% of the total portfolio. Shares added by 0.86%
- Medtronic Inc. (MDT) - 4,512,569 shares, 2.86% of the total portfolio. Shares added by 4%
Added: 3m Company (MMM, Financial)
Diamond Hill Capital added to his holdings in 3m Company by 253.3%. His purchase prices were between $74.74 and $89.81, with an estimated average price of $82.38. The impact to his portfolio due to this purchase was 1.28%. His holdings were 1,297,281 shares as of 06/30/2010.3M Company is a diversified technology company with positions in consumer and office; display and graphics; electronics and telecommunications; health care; industrial; safety, security and protection services; transportation and other businesses. 3m Company has a market cap of $58.61 billion; its shares were traded at around $82.19 with a P/E ratio of 15.6 and P/S ratio of 2.5. The dividend yield of 3m Company stocks is 2.6%. 3m Company had an annual average earning growth of 10.3% over the past 10 years. GuruFocus rated 3m Company the business predictability rank of 3.5-star.
Added: Jpmorgan Chase & Co. (JPM, Financial)
Diamond Hill Capital added to his holdings in Jpmorgan Chase & Co. by 87.48%. His purchase prices were between $36.72 and $47.81, with an estimated average price of $41.21. The impact to his portfolio due to this purchase was 1.13%. His holdings were 3,799,612 shares as of 06/30/2010.J.P. Morgan Chase & Co. is a global financial services firm. Jpmorgan Chase & Co. has a market cap of $157.68 billion; its shares were traded at around $39.63 with a P/E ratio of 11.8 and P/S ratio of 1.5. The dividend yield of Jpmorgan Chase & Co. stocks is 0.5%.
Added: Merck & Co. Inc. (MRK, Financial)
Diamond Hill Capital added to his holdings in Merck & Co. Inc. by 37.7%. His purchase prices were between $31.82 and $37.71, with an estimated average price of $34.73. The impact to his portfolio due to this purchase was 0.69%. His holdings were 4,121,268 shares as of 06/30/2010.Merck & Co., Inc. is a global research-driven pharmaceutical company dedicated to putting patients first. Merck & Co. Inc. has a market cap of $111.2 billion; its shares were traded at around $35.66 with a P/E ratio of 10.7 and P/S ratio of 4.1. The dividend yield of Merck & Co. Inc. stocks is 4.2%.
Added: Klatencor Corp. (KLAC, Financial)
Diamond Hill Capital added to his holdings in Klatencor Corp. by 29.34%. His purchase prices were between $28.08 and $35.3, with an estimated average price of $31.44. The impact to his portfolio due to this purchase was 0.54%. His holdings were 4,865,619 shares as of 06/30/2010.KLA-Tencor Corporation is one of the world's suppliers of process control and yield management solutions for the semiconductor and related microelectronics industries. Klatencor Corp. has a market cap of $5.18 billion; its shares were traded at around $30.46 with a P/E ratio of 40.6 and P/S ratio of 3.4. The dividend yield of Klatencor Corp. stocks is 2%.
Added: The Travelers Companies Inc. (TRV, Financial)
Diamond Hill Capital added to his holdings in The Travelers Companies Inc. by 18.39%. His purchase prices were between $48 and $53.92, with an estimated average price of $50.75. The impact to his portfolio due to this purchase was 0.39%. His holdings were 2,939,804 shares as of 06/30/2010.St. Paul Travelers is a provider of commercial property-liability insurance and asset management services. The Travelers Companies Inc. has a market cap of $24.94 billion; its shares were traded at around $50.35 with a P/E ratio of 8.1 and P/S ratio of 1. The dividend yield of The Travelers Companies Inc. stocks is 2.9%.
Added: Energizer Holdings Inc. (ENR, Financial)
Diamond Hill Capital added to his holdings in Energizer Holdings Inc. by 112.69%. His purchase prices were between $50.93 and $63, with an estimated average price of $57.66. The impact to his portfolio due to this purchase was 0.33%. His holdings were 711,881 shares as of 06/30/2010.Energizer Holdings is the world's largest manufacturer of primary batteries and flashlights and a global leader in the dynamic business of providing portable power. Energizer Holdings Inc. has a market cap of $3.75 billion; its shares were traded at around $53.5 with a P/E ratio of 10.2 and P/S ratio of 0.9. Energizer Holdings Inc. had an annual average earning growth of 18.5% over the past 10 years. GuruFocus rated Energizer Holdings Inc. the business predictability rank of 4.5-star.
Added: Arch Capital Group Ltd. (ACGL, Financial)
Diamond Hill Capital added to his holdings in Arch Capital Group Ltd. by 265.06%. His purchase prices were between $71.36 and $77.93, with an estimated average price of $74.78. The impact to his portfolio due to this purchase was 0.28%. His holdings were 295,542 shares as of 06/30/2010.Arch Capital Group Ltd. is a diversified financial services holding company, with an emphasis on the insurance sector. Arch Capital Group Ltd. has a market cap of $3.8 billion; its shares were traded at around $76.5 with a P/E ratio of 8 and P/S ratio of 1.1. Arch Capital Group Ltd. had an annual average earning growth of 26.1% over the past 10 years.
Added: Assured Guaranty Ltd. (AGO, Financial)
Diamond Hill Capital added to his holdings in Assured Guaranty Ltd. by 23.32%. His purchase prices were between $13.25 and $24.62, with an estimated average price of $18.31. The impact to his portfolio due to this purchase was 0.24%. His holdings were 5,485,631 shares as of 06/30/2010.Assured Guaranty is a Bermuda-based holding company providing credit enhancement products to the municipal finance, structured finance and mortgage markets. Assured Guaranty Ltd. has a market cap of $2.87 billion; its shares were traded at around $15.54 with a P/E ratio of 10.7 and P/S ratio of 2.4. The dividend yield of Assured Guaranty Ltd. stocks is 1.2%.
Added: Flowers Foods Inc. (FLO, Financial)
Diamond Hill Capital added to his holdings in Flowers Foods Inc. by 52.17%. His purchase prices were between $24.19 and $27.02, with an estimated average price of $25.45. The impact to his portfolio due to this purchase was 0.19%. His holdings were 1,315,029 shares as of 06/30/2010.Flowers Foods, Inc. is one of the largest producers and marketers of a full line of frozen and non-frozen bakery and dessert products in the United States. Flowers Foods Inc. has a market cap of $2.25 billion; its shares were traded at around $24.55 with a P/E ratio of 17.3 and P/S ratio of 0.9. The dividend yield of Flowers Foods Inc. stocks is 3.3%. Flowers Foods Inc. had an annual average earning growth of 13.8% over the past 10 years.
Added: Pfizer Inc (PFE, Financial)
Diamond Hill Capital added to his holdings in Pfizer Inc by 7.89%. His purchase prices were between $14.28 and $17.29, with an estimated average price of $15.97. The impact to his portfolio due to this purchase was 0.18%. His holdings were 9,746,368 shares as of 06/30/2010.Pfizer Inc is a research-based, global pharmaceutical company that discovers and develops innovative, value-added products that improve the quality of life of people around the world and help them enjoy longer, healthier, and more productive lives. Pfizer Inc has a market cap of $117.36 billion; its shares were traded at around $14.55 with a P/E ratio of 7 and P/S ratio of 2.4. The dividend yield of Pfizer Inc stocks is 5%. Pfizer Inc had an annual average earning growth of 1.8% over the past 10 years.
Added: Abbott Laboratories (ABT, Financial)
Diamond Hill Capital added to his holdings in Abbott Laboratories by 5.44%. His purchase prices were between $45.86 and $53.06, with an estimated average price of $49.28. The impact to his portfolio due to this purchase was 0.14%. His holdings were 3,228,039 shares as of 06/30/2010.Abbott Laboratories is a global, broad-based health care company devoted to discovering new medicines, new technologies and new ways to manage health. Abbott Laboratories has a market cap of $73.27 billion; its shares were traded at around $47.47 with a P/E ratio of 12.4 and P/S ratio of 2.4. The dividend yield of Abbott Laboratories stocks is 3.7%. Abbott Laboratories had an annual average earning growth of 7.3% over the past 10 years. GuruFocus rated Abbott Laboratories the business predictability rank of 4.5-star.
Added: Apache Corp. (APA, Financial)
Diamond Hill Capital added to his holdings in Apache Corp. by 3.72%. His purchase prices were between $84.51 and $109.87, with an estimated average price of $97.4. The impact to his portfolio due to this purchase was 0.13%. His holdings were 2,534,781 shares as of 06/30/2010.Apache Corporation is an independent energy company that explores for, develops and produces natural gas, crude oil and natural gas liquids. Apache Corp. has a market cap of $29.77 billion; its shares were traded at around $88.28 with a P/E ratio of 12.7 and P/S ratio of 3.5. The dividend yield of Apache Corp. stocks is 0.7%. Apache Corp. had an annual average earning growth of 16.6% over the past 10 years. GuruFocus rated Apache Corp. the business predictability rank of 3-star.
Added: Johnson & Johnson (JNJ)
Diamond Hill Capital added to his holdings in Johnson & Johnson by 6.41%. His purchase prices were between $58 and $66.03, with an estimated average price of $62.2. The impact to his portfolio due to this purchase was 0.12%. His holdings were 1,854,496 shares as of 06/30/2010.Johnson & Johnson is engaged in the manufacture and sale of a broad range of products in the health care field in many countries of the world. Johnson & Johnson has a market cap of $161.57 billion; its shares were traded at around $58.58 with a P/E ratio of 12.6 and P/S ratio of 2.7. The dividend yield of Johnson & Johnson stocks is 3.7%. Johnson & Johnson had an annual average earning growth of 10.8% over the past 10 years. GuruFocus rated Johnson & Johnson the business predictability rank of 4.5-star.
Added: Medtronic Inc. (MDT)
Diamond Hill Capital added to his holdings in Medtronic Inc. by 4%. His purchase prices were between $36.21 and $45.79, with an estimated average price of $41.44. The impact to his portfolio due to this purchase was 0.11%. His holdings were 4,512,569 shares as of 06/30/2010.Medtronic is the world's medical technology company, pioneeringdevice-based therapies that restore health, extend life and alleviate pain. Medtronic Inc. has a market cap of $40.52 billion; its shares were traded at around $37.42 with a P/E ratio of 11.6 and P/S ratio of 2.5. The dividend yield of Medtronic Inc. stocks is 2.4%. Medtronic Inc. had an annual average earning growth of 11.5% over the past 10 years. GuruFocus rated Medtronic Inc. the business predictability rank of 4.5-star.
Added: Anadarko Petroleum Corp. (APC)
Diamond Hill Capital added to his holdings in Anadarko Petroleum Corp. by 5.51%. His purchase prices were between $34.83 and $74.74, with an estimated average price of $56.98. The impact to his portfolio due to this purchase was 0.11%. His holdings were 3,285,924 shares as of 06/30/2010.Anadarko Petroleum Corporation is one of the world's largest independentoil and gas exploration and production companies. Anadarko Petroleum Corp. has a market cap of $22.83 billion; its shares were traded at around $46.14 with a P/E ratio of 128.1 and P/S ratio of 2.5. The dividend yield of Anadarko Petroleum Corp. stocks is 0.8%. Anadarko Petroleum Corp. had an annual average earning growth of 12.8% over the past 10 years. GuruFocus rated Anadarko Petroleum Corp. the business predictability rank of 2-star.
Added: U.s. Bancorp (USB)
Diamond Hill Capital added to his holdings in U.s. Bancorp by 10.73%. His purchase prices were between $22.46 and $28.26, with an estimated average price of $25.14. The impact to his portfolio due to this purchase was 0.1%. His holdings were 2,566,849 shares as of 06/30/2010.U.S. Bancorp is a financial services holding company. U.s. Bancorp has a market cap of $44.38 billion; its shares were traded at around $23.15 with a P/E ratio of 21.9 and P/S ratio of 2.3. The dividend yield of U.s. Bancorp stocks is 0.9%. U.s. Bancorp had an annual average earning growth of 2.1% over the past 10 years.
Added: Hornbeck Offshore Services Inc. (HOS)
Diamond Hill Capital added to his holdings in Hornbeck Offshore Services Inc. by 80.5%. His purchase prices were between $12.76 and $24.47, with an estimated average price of $18.37. The impact to his portfolio due to this purchase was 0.09%. His holdings were 790,842 shares as of 06/30/2010.Hornbeck Offshore provides technologically advanced, new generation OSVs serving the offshore oil and gas industry, primarily in the U. Hornbeck Offshore Services Inc. has a market cap of $433.3 million; its shares were traded at around $16.42 with a P/E ratio of 10.6 and P/S ratio of 1.1. Hornbeck Offshore Services Inc. had an annual average earning growth of 25.6% over the past 5 years.
Added: King Pharmaceuticals Inc. (KG)
Diamond Hill Capital added to his holdings in King Pharmaceuticals Inc. by 25.13%. His purchase prices were between $7.66 and $12.14, with an estimated average price of $9.4. The impact to his portfolio due to this purchase was 0.08%. His holdings were 3,051,195 shares as of 06/30/2010.King Pharmaceuticals, Inc. is a vertically integrated pharmaceutical company that manufactures, markets and sells primarily branded prescription pharmaceutical products. King Pharmaceuticals Inc. has a market cap of $2.13 billion; its shares were traded at around $8.55 with a P/E ratio of 8.8 and P/S ratio of 1.2.
Added: Berry Petroleum Company (BRY)
Diamond Hill Capital added to his holdings in Berry Petroleum Company by 42.48%. His purchase prices were between $26.61 and $33.9, with an estimated average price of $31.2. The impact to his portfolio due to this purchase was 0.08%. His holdings were 599,369 shares as of 06/30/2010.Berry Petroleum Company is an independent energy company engaged in the production, development, acquisition, exploitation and exploration of crude oil and natural gas. Berry Petroleum Company has a market cap of $1.47 billion; its shares were traded at around $27.78 with a P/E ratio of 19.5 and P/S ratio of 2.5. The dividend yield of Berry Petroleum Company stocks is 1%. Berry Petroleum Company had an annual average earning growth of 26.2% over the past 10 years. GuruFocus rated Berry Petroleum Company the business predictability rank of 5-star.
Added: Global Sources Ltd. (GSOL)
Diamond Hill Capital added to his holdings in Global Sources Ltd. by 54.95%. His purchase prices were between $6.31 and $8.04, with an estimated average price of $7.22. The impact to his portfolio due to this purchase was 0.04%. His holdings were 878,964 shares as of 06/30/2010.Global Sources Ltd. is one of the world's largest and most trusted neutral enablers of global merchandise trade. Global Sources Ltd. has a market cap of $370.2 million; its shares were traded at around $8.29 with a P/E ratio of 20.2 and P/S ratio of 2.1. Global Sources Ltd. had an annual average earning growth of 7.8% over the past 10 years.
Added: The Brink's Company (BCO)
Diamond Hill Capital added to his holdings in The Brink's Company by 21.89%. His purchase prices were between $19.33 and $29.29, with an estimated average price of $24.4. The impact to his portfolio due to this purchase was 0.03%. His holdings were 546,913 shares as of 06/30/2010.The Brink's Company is a global leader in business and security services. The Brink's Company has a market cap of $952.7 million; its shares were traded at around $19.89 with a P/E ratio of 14.9 and P/S ratio of 0.3. The dividend yield of The Brink's Company stocks is 2.1%. The Brink's Company had an annual average earning growth of 13% over the past 10 years.
Added: Wilmington Trust Corp. (WL)
Diamond Hill Capital added to his holdings in Wilmington Trust Corp. by 24.1%. His purchase prices were between $10.78 and $20.16, with an estimated average price of $15.79. The impact to his portfolio due to this purchase was 0.02%. His holdings were 475,342 shares as of 06/30/2010.Wilmington Trust Corporation is a financial services holding company that provides wealth management and specialized corporate services to clients throughout the United States and in more than eighty five other countries, and commercial banking services throughout the Delaware Valley region. Wilmington Trust Corp. has a market cap of $1.02 billion; its shares were traded at around $11.21 with and P/S ratio of 1.3. The dividend yield of Wilmington Trust Corp. stocks is 0.4%.
Added: Liquidity Services Inc. (LQDT)
Diamond Hill Capital added to his holdings in Liquidity Services Inc. by 29.07%. His purchase prices were between $10.67 and $13.74, with an estimated average price of $12.43. The impact to his portfolio due to this purchase was 0.01%. His holdings were 148,583 shares as of 06/30/2010.Liquidity Services, Inc. is a online auction marketplace for wholesale, surplus and salvage assets. Liquidity Services Inc. has a market cap of $377 million; its shares were traded at around $13.96 with a P/E ratio of 36.7 and P/S ratio of 1.6.
Added: Forest Laboratories Inc. (FRX)
Diamond Hill Capital added to his holdings in Forest Laboratories Inc. by 20.13%. His purchase prices were between $24.36 and $32.46, with an estimated average price of $27.11. The impact to his portfolio due to this purchase was 0.01%. His holdings were 125,310 shares as of 06/30/2010.Forest Laboratories, Inc. and its subsidiaries develop, manufacture and sell both branded and generic forms of ethical drug products which require a physician's prescription, as well as non-prescription pharmaceuticalproducts sold over-the-counter. Forest Laboratories Inc. has a market cap of $8.5 billion; its shares were traded at around $28.1 with a P/E ratio of 7.9 and P/S ratio of 2. Forest Laboratories Inc. had an annual average earning growth of 12.9% over the past 10 years. GuruFocus rated Forest Laboratories Inc. the business predictability rank of 2-star.
Added: First Niagara Financial Group Inc. (FNFG)
Diamond Hill Capital added to his holdings in First Niagara Financial Group Inc. by 27.17%. His purchase prices were between $12.39 and $14.86, with an estimated average price of $13.54. The impact to his portfolio due to this purchase was 0.01%. His holdings were 206,695 shares as of 06/30/2010.First Niagara Financial Group, Inc. is a multi-bank holding company and is the parent of First Niagara Bank, Cortland Savings Bank and Cayuga Bank. First Niagara Financial Group Inc. has a market cap of $2.73 billion; its shares were traded at around $13.05 with a P/E ratio of 21 and P/S ratio of 4.4. The dividend yield of First Niagara Financial Group Inc. stocks is 4.3%. First Niagara Financial Group Inc. had an annual average earning growth of 6.5% over the past 10 years.
Added: American Express Company (AXP)
Diamond Hill Capital added to his holdings in American Express Company by 87.96%. His purchase prices were between $37.71 and $48.05, with an estimated average price of $42.51. The impact to his portfolio due to this purchase was 0.01%. His holdings were 26,155 shares as of 06/30/2010.American Express Company is primarily engaged in the business of providing travel related services, financial advisory services and international banking services throughout the world. American Express Company has a market cap of $50.53 billion; its shares were traded at around $42.06 with a P/E ratio of 22.8 and P/S ratio of 2. The dividend yield of American Express Company stocks is 1.7%.
Added: Sterling Bancorp (STL)
Diamond Hill Capital added to his holdings in Sterling Bancorp by 30.13%. His purchase prices were between $8.99 and $10.93, with an estimated average price of $9.94. The impact to his portfolio due to this purchase was 0.01%. His holdings were 238,955 shares as of 06/30/2010.Sterling Bancorp is a bank holding company. Sterling provides a full range of financial products and services, including business and consumer loans, commercial and residential mortgage lending and brokerage, asset-based financing, accounts receivable management services, trade financing, equipment leasing, corporate and consumer deposit services, trust and estate administration and investment management services. Sterling Bancorp has a market cap of $240.2 million; its shares were traded at around $8.95 with a P/E ratio of 28 and P/S ratio of 1.6. The dividend yield of Sterling Bancorp stocks is 4%.
Added: Discover Financial Services (DFS)
Diamond Hill Capital added to his holdings in Discover Financial Services by 202.94%. His purchase prices were between $12.43 and $16.26, with an estimated average price of $14.47. The impact to his portfolio due to this purchase was 0.01%. His holdings were 88,670 shares as of 06/30/2010.Discover Financial Services operates the Discover Card with more than fifty million cardmembers, the Discover Network with millions of merchant and cash access locations, and the Goldfish credit card business in the United Kingdom. Discover Financial Services has a market cap of $8.06 billion; its shares were traded at around $14.83 with a P/E ratio of 19.8 and P/S ratio of 0.8. The dividend yield of Discover Financial Services stocks is 0.6%.
Added: Affiliated Managers Group Inc. (AMG)
Diamond Hill Capital added to his holdings in Affiliated Managers Group Inc. by 80.28%. His purchase prices were between $61.79 and $87.05, with an estimated average price of $75.69. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 7,130 shares as of 06/30/2010.Affiliated Managers Group Inc. is an asset management holding company which acquires majority interests in mid-sized investment management firms. Affiliated Managers Group Inc. has a market cap of $2.8 billion; its shares were traded at around $62.91 with a P/E ratio of 13.9 and P/S ratio of 3.3. Affiliated Managers Group Inc. had an annual average earning growth of 8% over the past 10 years.
Added: Morgan Stanley (MS)
Diamond Hill Capital added to his holdings in Morgan Stanley by 43.02%. His purchase prices were between $23.45 and $31.94, with an estimated average price of $27.79. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 29,019 shares as of 06/30/2010.MORGAN STANLEY is a preeminent global financial services firm that maintains market positions in each of its three primary businesses: securities; asset management; and credit services. Morgan Stanley has a market cap of $35.25 billion; its shares were traded at around $25.22 with and P/S ratio of 1.5. The dividend yield of Morgan Stanley stocks is 0.8%.
Added: The Hartford Financial Services Group In (HIG)
Diamond Hill Capital added to his holdings in The Hartford Financial Services Group In by 60.35%. His purchase prices were between $22.16 and $29.64, with an estimated average price of $26.15. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 31,885 shares as of 06/30/2010.Hartford Financial Services is one of the nation's largest investment and insurance companies, offers a complete line of insurance and financial service products to customers all over the world. The Hartford Financial Services Group In has a market cap of $9.84 billion; its shares were traded at around $22.16 with a P/E ratio of 4.4 and P/S ratio of 0.4. The dividend yield of The Hartford Financial Services Group In stocks is 0.9%.
Added: First Of Long Island Corp. (FLIC)
Diamond Hill Capital added to his holdings in First Of Long Island Corp. by 53.87%. His purchase prices were between $23.62 and $27.94, with an estimated average price of $25.13. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 32,606 shares as of 06/30/2010.The First of Long Island Corporation is a one-bank holding company. First Of Long Island Corp. has a market cap of $182.1 million; its shares were traded at around $25.1 with a P/E ratio of 11.7 and P/S ratio of 2.5. The dividend yield of First Of Long Island Corp. stocks is 3.2%. First Of Long Island Corp. had an annual average earning growth of 8.6% over the past 10 years. GuruFocus rated First Of Long Island Corp. the business predictability rank of 3.5-star.
New Purchase: Air Products And Chemicals Inc. (APD)
Diamond Hill Capital initiated holdings in Air Products And Chemicals Inc.. His purchase prices were between $65.52 and $79.22, with an estimated average price of $38.07. The impact to his portfolio due to this purchase was 1.7%. His holdings were 1,502,129 shares as of 06/30/2010.Air Products and Chemicals, Inc. has established an internationally recognized industrial gas and related industrial process equipment business, and developed strong positions as a producer of certain chemicals. Air Products And Chemicals Inc. has a market cap of $15.03 billion; its shares were traded at around $70.77 with a P/E ratio of 15.4 and P/S ratio of 1.8. The dividend yield of Air Products And Chemicals Inc. stocks is 2.7%. Air Products And Chemicals Inc. had an annual average earning growth of 7.5% over the past 10 years.
New Purchase: Exxon Mobil Corp. (XOM)
Diamond Hill Capital initiated holdings in Exxon Mobil Corp.. His purchase prices were between $57.29 and $69.29, with an estimated average price of $64.08. The impact to his portfolio due to this purchase was 1.66%. His holdings were 1,669,175 shares as of 06/30/2010.Exxon Mobil Corporation's principal business is energy, involving exploration for, and production of, crude oil and natural gas, manufacturing of petroleum products and transportation and sale of crudeoil, natural gas and petroleum products. Exxon Mobil Corp. has a market cap of $300.54 billion; its shares were traded at around $58.95 with a P/E ratio of 13.3 and P/S ratio of 1. The dividend yield of Exxon Mobil Corp. stocks is 3%. Exxon Mobil Corp. had an annual average earning growth of 11.2% over the past 10 years. GuruFocus rated Exxon Mobil Corp. the business predictability rank of 3.5-star.
New Purchase: Quest Diagnostics Inc. (DGX)
Diamond Hill Capital initiated holdings in Quest Diagnostics Inc.. His purchase prices were between $50.05 and $59.86, with an estimated average price of $54.77. The impact to his portfolio due to this purchase was 1.08%. His holdings were 1,237,376 shares as of 06/30/2010.Quest Diagnostics Inc., is the provider of diagnostic testing, information and services that patients and doctors need to make better healthcare decisions. Quest Diagnostics Inc. has a market cap of $8.99 billion; its shares were traded at around $49.95 with a P/E ratio of 12.8 and P/S ratio of 1.2. The dividend yield of Quest Diagnostics Inc. stocks is 0.8%. Quest Diagnostics Inc. had an annual average earning growth of 15.3% over the past 10 years. GuruFocus rated Quest Diagnostics Inc. the business predictability rank of 4-star.
New Purchase: Myriad Genetics Inc. (MYGN)
Diamond Hill Capital initiated holdings in Myriad Genetics Inc.. His purchase prices were between $15.41 and $24.43, with an estimated average price of $19.72. The impact to his portfolio due to this purchase was 0.28%. His holdings were 1,090,946 shares as of 06/30/2010.Myriad Genetics, Inc. uses gene-based medicine to develop therapeutic and molecular diagnostic products. Myriad Genetics Inc. has a market cap of $1.48 billion; its shares were traded at around $15.13 with a P/E ratio of 11 and P/S ratio of 4.5.
New Purchase: Ralcorp Holdings Inc. (RAH)
Diamond Hill Capital initiated holdings in Ralcorp Holdings Inc.. His purchase prices were between $55.34 and $67.71, with an estimated average price of $62.46. The impact to his portfolio due to this purchase was 0.19%. His holdings were 203,680 shares as of 06/30/2010.Ralcorp Holdings, Inc. is primarily engaged in the manufacturing, distribution and marketing of private label and branded ready-to-eat cereal products and snacks, branded and private label crackers and cookies, and branded baby food and juices. Ralcorp Holdings Inc. has a market cap of $3.04 billion; its shares were traded at around $55.42 with a P/E ratio of 11.6 and P/S ratio of 0.8. Ralcorp Holdings Inc. had an annual average earning growth of 15.6% over the past 10 years. GuruFocus rated Ralcorp Holdings Inc. the business predictability rank of 3.5-star.
New Purchase: Kinetic Concepts Inc. (KCI)
Diamond Hill Capital initiated holdings in Kinetic Concepts Inc.. His purchase prices were between $37.46 and $50.02, with an estimated average price of $43.15. The impact to his portfolio due to this purchase was 0.15%. His holdings were 229,360 shares as of 06/30/2010.Kinetic Concepts Inc. is a global medical technology company with leadership positions in advanced wound care and therapeutic surfaces. Kinetic Concepts Inc. has a market cap of $2.58 billion; its shares were traded at around $35.95 with a P/E ratio of 8.9 and P/S ratio of 1.3. Kinetic Concepts Inc. had an annual average earning growth of 23% over the past 10 years. GuruFocus rated Kinetic Concepts Inc. the business predictability rank of 3.5-star.
New Purchase: Molson Coors Brewing Company (TAP)
Diamond Hill Capital initiated holdings in Molson Coors Brewing Company. His purchase prices were between $40.15 and $44.65, with an estimated average price of $43.13. The impact to his portfolio due to this purchase was 0.14%. His holdings were 192,491 shares as of 06/30/2010.Molson Coors Brewing Company is world's fifth-largest global brewer. Molson Coors Brewing Company has a market cap of $7.31 billion; its shares were traded at around $44.84 with a P/E ratio of 12.3 and P/S ratio of 1.6. The dividend yield of Molson Coors Brewing Company stocks is 2.5%.
New Purchase: Popular Inc. (BPOP)
Diamond Hill Capital initiated holdings in Popular Inc.. His purchase prices were between $2.64 and $4.02, with an estimated average price of $3.25. The impact to his portfolio due to this purchase was 0.1%. His holdings were 2,056,140 shares as of 06/30/2010.Popular, Inc. is a diversified, publicly owned bank holding company. Popular Inc. has a market cap of $1.7 billion; its shares were traded at around $2.66 with and P/S ratio of 0.6.
New Purchase: The First American Corp. (FAF)
Diamond Hill Capital initiated holdings in The First American Corp.. His purchase prices were between $12.31 and $37.07, with an estimated average price of $27.89. The impact to his portfolio due to this purchase was 0.09%. His holdings were 421,273 shares as of 06/30/2010.First American Financial Corporation provides financial services through its Title Insurance and Services segment and its Specialty Insurance segment. The First American Corp. has a market cap of $1.41 billion; its shares were traded at around $13.59 . The dividend yield of The First American Corp. stocks is 0.5%.
New Purchase: Xl Capital Ltd (XL)
Diamond Hill Capital initiated holdings in Xl Capital Ltd. His purchase prices were between $15.97 and $20.16, with an estimated average price of $18.12. The impact to his portfolio due to this purchase was 0.02%. His holdings were 78,200 shares as of 06/30/2010.XL Group plc, through its subsidiaries, is a global insurance and reinsurance company providing property, casualty, and specialty products to industrial, commercial, and professional firms, insurance companies and other enterprises on a worldwide basis. Xl Capital Ltd has a market cap of $5.96 billion; its shares were traded at around $17.43 with a P/E ratio of 7 and P/S ratio of 0.9. The dividend yield of Xl Capital Ltd stocks is 2.3%.
New Purchase: Linear Technology Corp. (LLTC)
Diamond Hill Capital initiated holdings in Linear Technology Corp.. His purchase prices were between $26.61 and $31.37, with an estimated average price of $28.96. The impact to his portfolio due to this purchase was 0.01%. His holdings were 23,330 shares as of 06/30/2010.Linear Technology products include operational, instrumentation and audio amplifiers; voltage regulators, power management devices, DC-DC converters and voltage references; comparators; monolithic filters; communications interface circuits; one-chip data acquisition sub-systems; pulse-width modulators and sample-and-hold devices. Linear Technology Corp. has a market cap of $7.04 billion; its shares were traded at around $31.4 with a P/E ratio of 23.6 and P/S ratio of 7.2. The dividend yield of Linear Technology Corp. stocks is 2.9%. Linear Technology Corp. had an annual average earning growth of 9% over the past 10 years. GuruFocus rated Linear Technology Corp. the business predictability rank of 2.5-star.
Reduced: Istar Financial Inc. (SFI)
Diamond Hill Capital reduced to his holdings in Istar Financial Inc. by 79.98%. His sale prices were between $4.67 and $7.43, with an estimated average price of $5.82. The impact to his portfolio due to this sale was less than 0.01%. Diamond Hill Capital still held 27,515 shares as of 06/30/2010.iStar Financial Inc. is the publicly traded finance company focused on the commercial real estate industry. Istar Financial Inc. has a market cap of $380 million; its shares were traded at around $4.07 with and P/S ratio of 0.4.
Reduced: Bb&t Corp. (BBT)
Diamond Hill Capital reduced to his holdings in Bb&t Corp. by 51.77%. His sale prices were between $27.28 and $35.61, with an estimated average price of $31.82. The impact to his portfolio due to this sale was -0.01%. Diamond Hill Capital still held 16,883 shares as of 06/30/2010.BB&T Corporation is a multi-bank holding company. The company offers full-service commercial and retail banking and additional financial services such as insurance, corporate finance, international banking, leasing and trust. Bb&t Corp. has a market cap of $18.38 billion; its shares were traded at around $26.55 with a P/E ratio of 27.4 and P/S ratio of 1.7. The dividend yield of Bb&t Corp. stocks is 2.3%. Bb&t Corp. had an annual average earning growth of 0.1% over the past 10 years.
Reduced: United Fire & Casualty Company (UFCS)
Diamond Hill Capital reduced to his holdings in United Fire & Casualty Company by 22.58%. His sale prices were between $17.72 and $23.5, with an estimated average price of $20.87. The impact to his portfolio due to this sale was -0.02%. Diamond Hill Capital still held 254,017 shares as of 06/30/2010.United Fire & Casualty Company is engaged in the business of writing property, casualty and life insurance. United Fire & Casualty Company has a market cap of $515.5 million; its shares were traded at around $19.55 with a P/E ratio of 44.4 and P/S ratio of 0.9. The dividend yield of United Fire & Casualty Company stocks is 3%.
Reduced: Ruddick Corp. (RDK)
Diamond Hill Capital reduced to his holdings in Ruddick Corp. by 34.37%. His sale prices were between $31.44 and $35.92, with an estimated average price of $33.4. The impact to his portfolio due to this sale was -0.02%. Diamond Hill Capital still held 121,374 shares as of 06/30/2010.RUDDICK CORP. is a diversified holding company which, through its subsidiaries, is in 4 primary businesses: Harris Teeter, Inc. Ruddick Corp. has a market cap of $1.62 billion; its shares were traded at around $33.25 with a P/E ratio of 16.2 and P/S ratio of 0.4. The dividend yield of Ruddick Corp. stocks is 1.5%. Ruddick Corp. had an annual average earning growth of 5.6% over the past 10 years. GuruFocus rated Ruddick Corp. the business predictability rank of 2-star.
Reduced: Leucadia National Corp. (LUK)
Diamond Hill Capital reduced to his holdings in Leucadia National Corp. by 30.67%. His sale prices were between $19.78 and $28.05, with an estimated average price of $23.36. The impact to his portfolio due to this sale was -0.03%. Diamond Hill Capital still held 291,124 shares as of 06/30/2010.LEUCADIA NATL is a diversified financial services holding companyprincipally engaged in personal and commercial lines of property and casualty insurance, life insurance, banking and lending and manufacturing. Leucadia National Corp. has a market cap of $4.97 billion; its shares were traded at around $20.43 with a P/E ratio of 5.9 and P/S ratio of 4.4.
Reduced: Del Monte Foods Company (DLM)
Diamond Hill Capital reduced to his holdings in Del Monte Foods Company by 26.25%. His sale prices were between $14.03 and $15.93, with an estimated average price of $14.96. The impact to his portfolio due to this sale was -0.04%. Diamond Hill Capital still held 678,253 shares as of 06/30/2010.Del Monte Foods manufactures and distributes premium quality, nutritiousfood products under Del Monte, Contadina and other brand names. Del Monte Foods Company has a market cap of $2.74 billion; its shares were traded at around $13.7 with a P/E ratio of 10.4 and P/S ratio of 0.7. The dividend yield of Del Monte Foods Company stocks is 1.4%. Del Monte Foods Company had an annual average earning growth of 1.5% over the past 5 years.
Reduced: Hain Celestial Group Inc. (HAIN)
Diamond Hill Capital reduced to his holdings in Hain Celestial Group Inc. by 56.86%. His sale prices were between $17.6 and $22.83, with an estimated average price of $20.61. The impact to his portfolio due to this sale was -0.05%. Diamond Hill Capital still held 218,255 shares as of 06/30/2010.The Hain Celestial Group is a natural, specialty and snack food company. Hain Celestial Group Inc. has a market cap of $817.8 million; its shares were traded at around $19.97 with a P/E ratio of 18.1 and P/S ratio of 0.7.
Reduced: The Toro Company (TTC)
Diamond Hill Capital reduced to his holdings in The Toro Company by 37.41%. His sale prices were between $47.5 and $58.27, with an estimated average price of $53.42. The impact to his portfolio due to this sale was -0.05%. Diamond Hill Capital still held 147,920 shares as of 06/30/2010.Toro Company designs, manufactures and markets consumer and professional turf maintenance equipment, snow removal products and irrigation systems and provides landscaping and turf maintenance services. The Toro Company has a market cap of $1.64 billion; its shares were traded at around $50.57 with a P/E ratio of 21.7 and P/S ratio of 1.1. The dividend yield of The Toro Company stocks is 1.4%. The Toro Company had an annual average earning growth of 12.7% over the past 10 years. GuruFocus rated The Toro Company the business predictability rank of 2.5-star.
Reduced: Exterran Holdings Inc. (EXH)
Diamond Hill Capital reduced to his holdings in Exterran Holdings Inc. by 27.17%. His sale prices were between $23.83 and $30.05, with an estimated average price of $26.64. The impact to his portfolio due to this sale was -0.08%. Diamond Hill Capital still held 651,650 shares as of 06/30/2010.Exterran Holdings, Inc. is the global market leader in full service natural gas compression and a premier provider of sales, operations, maintenance, fabrication, service and equipment for oil and gas production, processing and transportation applications. Exterran Holdings Inc. has a market cap of $1.64 billion; its shares were traded at around $26 with a P/E ratio of 54.2 and P/S ratio of 0.6.
Reduced: Suntrust Banks Inc. (STI)
Diamond Hill Capital reduced to his holdings in Suntrust Banks Inc. by 40.88%. His sale prices were between $23.44 and $31.85, with an estimated average price of $27.6. The impact to his portfolio due to this sale was -0.3%. Diamond Hill Capital still held 1,812,562 shares as of 06/30/2010.SunTrust Banks, Inc. is a commercial banking organization. Suntrust Banks Inc. has a market cap of $11.53 billion; its shares were traded at around $23.07 with and P/S ratio of 1.1. The dividend yield of Suntrust Banks Inc. stocks is 0.2%.
Reduced: Cimarex Energy Co. (XEC)
Diamond Hill Capital reduced to his holdings in Cimarex Energy Co. by 36.26%. His sale prices were between $60.35 and $80.23, with an estimated average price of $69.59. The impact to his portfolio due to this sale was -0.37%. Diamond Hill Capital still held 812,619 shares as of 06/30/2010.Cimarex Energy is an independent oil and gas exploration and production company focused on increasing shareholder value through strategies linked to generating attractive economic returns on capital employed and profitable growth in per-share reserves, production, and cash flow. Cimarex Energy Co. has a market cap of $6.27 billion; its shares were traded at around $74.71 with a P/E ratio of 17.4 and P/S ratio of 6.2. The dividend yield of Cimarex Energy Co. stocks is 0.4%.
Sold Out: Diamond Hill Financial Trends Fund Inc. (DHFT)
Diamond Hill Capital sold out his holdings in Diamond Hill Financial Trends Fund Inc.. His sale prices were between $8.3756 and $9.8865, with an estimated average price of $9.16.Diamond Hill Financial Trends Fund Inc. has a market cap of $53.8 million; its shares were traded at around $8.54 . The dividend yield of Diamond Hill Financial Trends Fund Inc. stocks is 3.8%.
Sold Out: Comerica Inc. (CMA)
Diamond Hill Capital sold out his holdings in Comerica Inc.. His sale prices were between $35.94 and $44.6, with an estimated average price of $40.Comerica Inc. is a registered bank holding company. Comerica Inc. has a market cap of $6.49 billion; its shares were traded at around $36.81 with and P/S ratio of 2. The dividend yield of Comerica Inc. stocks is 0.5%.
Sold Out: Be Aerospace Inc. (BEAV)
Diamond Hill Capital sold out his holdings in Be Aerospace Inc.. His sale prices were between $23.78 and $31.12, with an estimated average price of $27.78.B/E Aerospace, Inc. is the world's manufacturer of aircraft cabin interior products, serving virtually all the world's airlines and aircraft manufacturers. Be Aerospace Inc. has a market cap of $2.83 billion; its shares were traded at around $27.67 with a P/E ratio of 18.9 and P/S ratio of 1.4.
Sold Out: Lasalle Hotel Properties (LHO)
Diamond Hill Capital sold out his holdings in Lasalle Hotel Properties. His sale prices were between $20.64 and $28.01, with an estimated average price of $23.62.Lasalle Hotel Properties, which intends to operate as a real estate investment trust for federal income tax purposes, has been formed to own hotel properties and to continue and expand the hotel investment activities of LaSalle Partners Incorporated and certain of its affiliates collectively, LaSalle. Lasalle Hotel Properties has a market cap of $1.54 billion; its shares were traded at around $22.08 with a P/E ratio of 9.3 and P/S ratio of 2.6. The dividend yield of Lasalle Hotel Properties stocks is 0.2%. Lasalle Hotel Properties had an annual average earning growth of 2.4% over the past 10 years.
Sold Out: Analogic Corp. (ALOG)
Diamond Hill Capital sold out his holdings in Analogic Corp.. His sale prices were between $41.41 and $48.55, with an estimated average price of $45.32.Analogic Corporation conceives, designs, manufactures, and sells standard and customized high-precision data acquisition, signal and imaging processing based medical imaging and industrial systems and subsystems. Analogic Corp. has a market cap of $573.9 million; its shares were traded at around $44.54 with a P/E ratio of 50.6 and P/S ratio of 1.5. The dividend yield of Analogic Corp. stocks is 0.9%. Analogic Corp. had an annual average earning growth of 24.9% over the past 5 years.
Sold Out: City National Corp. (CYN)
Diamond Hill Capital sold out his holdings in City National Corp.. His sale prices were between $52.39 and $64.13, with an estimated average price of $57.62.City National Corporation conducts its operations through its primary subsidiary City National Bank. City National Corp. has a market cap of $2.71 billion; its shares were traded at around $52.22 with a P/E ratio of 168.4 and P/S ratio of 2.7. The dividend yield of City National Corp. stocks is 0.8%.
Sold Out: Transocean Inc. (RIG)
Diamond Hill Capital sold out his holdings in Transocean Inc.. His sale prices were between $42.58 and $92.03, with an estimated average price of $66.32.Transocean LTD., formerly Transocean Inc., is an international provider of offshore contract drilling services for oil and gas wells. Transocean Inc. has a market cap of $15.68 billion; its shares were traded at around $49 with a P/E ratio of 5 and P/S ratio of 1.3. Transocean Inc. had an annual average earning growth of 22% over the past 10 years. GuruFocus rated Transocean Inc. the business predictability rank of 2-star.
