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Diamond Hill Capital Buys 3M Company, Energizer Holdings Inc., American Express Company, Sells AFLAC Inc., Cardinal Health Inc., Southwest Airlines Co.

Fund manager Diamond Hill Investments is publicly traded on NASDAQ under symbol DHIL. The performances of the firm’s small cap fund is very impressive, during the past 10 years it outperformed the benchmark by more than 5% a year.

If you like to do more research about the firm, read the Annual CEO Letter for Shareholders. Their investment letters also provide deep insights for value investors, and we strongly recommend you to read it. This is what they wrote in winter of 2001: “Current valuations are still problematic. The mere fact that many stocks are considerably lower than they were a year ago does not necessarily make them attractive for current investment.” In an article titled “Greed gives way to Fear” in Aug. 2007, they wrote: “Over the years we have seen many times when those who take excessive risk are severely penalized; this appears to be one of those times.”

 

For the details of Diamond Hill Capital's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Diamond+Hill+Capital

This is the sector weightings of his portfolio:

Oil & Gas 20.2%
Financials 18.2%
Health Care 17.4%
Industrials 14.7%
Consumer Goods 12.1%
Technology 7.2%
Consumer Services 6.9%
Utilities 3.3%



These are the top 5 holdings of Diamond Hill Capital

  1. Apache Corp. (APA) - 2,443,937 shares, 4.14% of the total portfolio. Shares added by 2.58%
  2. Occidental Petroleum Corp. (OXY) - 2,745,021 shares, 3.87% of the total portfolio. Shares added by 6.17%
  3. Anadarko Petroleum Corp. (APC) - 3,114,329 shares, 3.78% of the total portfolio. Shares added by 2.67%
  4. United Technologies Corp. (UTX) - 2,671,765 shares, 3.28% of the total portfolio. Shares added by 4.98%
  5. Medtronic Inc. (MDT) - 4,338,919 shares, 3.26% of the total portfolio. Shares added by 1.93%

 

Added: Pepsico Inc. ( PEP)

Diamond Hill Capital added to their holdings in Pepsico Inc. by 52.37%. their purchase prices were between $58.96 and $66.86, with an estimated average price of $62.7. The impact to their portfolio due to this purchase was 0.9%. their holdings were 2,369,280 shares as of 03/31/2010.

PepsiCo, Inc. consists of: Frito-Lay Company, Pepsi-Cola Company, and Tropicana Products. Pepsico Inc. has a market cap of $107.03 billion; its shares were traded at around $64.76 with a P/E ratio of 17.4 and P/S ratio of 2.5. The dividend yield of Pepsico Inc. stocks is 2.8%. Pepsico Inc. had an annual average earning growth of 8.9% over the past 10 years. GuruFocus rated Pepsico Inc. the business predictability rank of 2.5-star.

Added: Jpmorgan Chase & Co. ( JPM)

Diamond Hill Capital added to their holdings in Jpmorgan Chase & Co. by 100.95%. their purchase prices were between $37.7 and $45.02, with an estimated average price of $41.84. The impact to their portfolio due to this purchase was 0.76%. their holdings were 2,026,727 shares as of 03/31/2010.

J.P. Morgan Chase & Co. is a global financial services firm. Jpmorgan Chase & Co. has a market cap of $177.75 billion; its shares were traded at around $44.74 with a P/E ratio of 17.5 and P/S ratio of 1.8. The dividend yield of Jpmorgan Chase & Co. stocks is 0.4%.

Added: Klatencor Corp. ( KLAC)

Diamond Hill Capital added to their holdings in Klatencor Corp. by 34.23%. their purchase prices were between $28.09 and $37.12, with an estimated average price of $31.17. The impact to their portfolio due to this purchase was 0.49%. their holdings were 3,761,949 shares as of 03/31/2010.

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 $5.93 billion; its shares were traded at around $34.45 with and P/S ratio of 3.9. The dividend yield of Klatencor Corp. stocks is 1.7%.

Added: Devon Energy Corp. ( DVN)

Diamond Hill Capital added to their holdings in Devon Energy Corp. by 10.92%. their purchase prices were between $62.93 and $76.65, with an estimated average price of $69.73. The impact to their portfolio due to this purchase was 0.32%. their holdings were 2,981,047 shares as of 03/31/2010.

Devon Energy Corporation is an independent energy company engaged primarily in oil and gas exploration, development and production, and in the acquisition of producing properties. Devon Energy Corp. has a market cap of $30.26 billion; its shares were traded at around $67.72 with a P/E ratio of 16.7 and P/S ratio of 3.7. The dividend yield of Devon Energy Corp. stocks is 1%.

Added: Assurant Inc. ( AIZ)

Diamond Hill Capital added to their holdings in Assurant Inc. by 30%. their purchase prices were between $34.34 and $34.37, with an estimated average price of $34.36. The impact to their portfolio due to this purchase was 0.28%. their holdings were 2,152,548 shares as of 03/31/2010.

Assurant Inc is a premier provider of specialized insurance products and related services in North America and selected other international markets. Assurant Inc. has a market cap of $4.07 billion; its shares were traded at around $34.92 with a P/E ratio of 8.2 and P/S ratio of 0.5. The dividend yield of Assurant Inc. stocks is 1.7%. Assurant Inc. had an annual average earning growth of 7.7% over the past 5 years.

Added: Occidental Petroleum Corp. ( OXY)

Diamond Hill Capital added to their holdings in Occidental Petroleum Corp. by 6.17%. their purchase prices were between $76.01 and $84.27, with an estimated average price of $80.54. The impact to their portfolio due to this purchase was 0.22%. their holdings were 2,745,021 shares as of 03/31/2010.

Occidental Petroleum Corp. explores for, develops, produces and markets crude oil and natural gas and manufactures and markets a variety of basic chemicals, including chlorine, caustic soda, and ethylene dichloride, as well as specialty chemicals and vinyls, including polyvinyl chloride resins and vinyl chloride monomer. Occidental Petroleum Corp. has a market cap of $69.28 billion; its shares were traded at around $85.3 with a P/E ratio of 22.5 and P/S ratio of 4.6. The dividend yield of Occidental Petroleum Corp. stocks is 1.6%. Occidental Petroleum Corp. had an annual average earning growth of 13.6% over the past 10 years.

Added: Assured Guaranty Ltd. (AGO)

Diamond Hill Capital added to their holdings in Assured Guaranty Ltd. by 14.3%. their purchase prices were between $21.59 and $22.09, with an estimated average price of $21.84. The impact to their portfolio due to this purchase was 0.2%. their holdings were 4,448,120 shares as of 03/31/2010.

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 $4.44 billion; its shares were traded at around $24.05 with a P/E ratio of 14.4 and P/S ratio of 3.8. The dividend yield of Assured Guaranty Ltd. stocks is 0.8%.

Added: Pfizer Inc ( PFE)

Diamond Hill Capital added to their holdings in Pfizer Inc by 8.02%. their purchase prices were between $16.91 and $20, with an estimated average price of $18.07. The impact to their portfolio due to this purchase was 0.19%. their holdings were 9,034,008 shares as of 03/31/2010.

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 $132.96 billion; its shares were traded at around $16.48 with a P/E ratio of 8.1 and P/S ratio of 2.7. The dividend yield of Pfizer Inc stocks is 4.3%.

Added: The Travelers Companies Inc. ( TRV)

Diamond Hill Capital added to their holdings in The Travelers Companies Inc. by 7.5%. their purchase prices were between $47.94 and $54.76, with an estimated average price of $51.39. The impact to their portfolio due to this purchase was 0.16%. their holdings were 2,483,091 shares as of 03/31/2010.

St. Paul Travelers is a provider of commercial property-liability insurance and asset management services. The Travelers Companies Inc. has a market cap of $27.21 billion; its shares were traded at around $53.79 with a P/E ratio of 8.5 and P/S ratio of 1.1. The dividend yield of The Travelers Companies Inc. stocks is 2.5%.

Added: United Technologies Corp. ( UTX)

Diamond Hill Capital added to their holdings in United Technologies Corp. by 4.98%. their purchase prices were between $65.4 and $74.13, with an estimated average price of $70.03. The impact to their portfolio due to this purchase was 0.16%. their holdings were 2,671,765 shares as of 03/31/2010.

United Technologies Corporation provides a broad range of high technology products and services to the building systems and aerospace industries. United Technologies Corp. has a market cap of $71.57 billion; its shares were traded at around $76.43 with a P/E ratio of 16.7 and P/S ratio of 1.3. The dividend yield of United Technologies Corp. stocks is 2.2%. United Technologies Corp. had an annual average earning growth of 10.7% over the past 10 years. GuruFocus rated United Technologies Corp. the business predictability rank of 3.5-star.

Added: Abbott Laboratories ( ABT)

Diamond Hill Capital added to their holdings in Abbott Laboratories by 5.39%. their purchase prices were between $52.51 and $53.12, with an estimated average price of $52.82. The impact to their portfolio due to this purchase was 0.14%. their holdings were 3,061,607 shares as of 03/31/2010.

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 $79.37 billion; its shares were traded at around $51.12 with a P/E ratio of 13.7 and P/S ratio of 2.6. The dividend yield of Abbott Laboratories stocks is 3.4%. 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: Johnson & Johnson ( JNJ)

Diamond Hill Capital added to their holdings in Johnson & Johnson by 7.45%. their purchase prices were between $62.37 and $65.36, with an estimated average price of $63.98. The impact to their portfolio due to this purchase was 0.13%. their holdings were 1,742,762 shares as of 03/31/2010.

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 $178.55 billion; its shares were traded at around $64.78 with a P/E ratio of 14.1 and P/S ratio of 2.9. The dividend yield of Johnson & Johnson stocks is 3%. Johnson & Johnson had an annual average earning growth of 12.2% over the past 10 years. GuruFocus rated Johnson & Johnson the business predictability rank of 5-star.

Added: Dominion Resources Inc. (D)

Diamond Hill Capital added to their holdings in Dominion Resources Inc. by 5.24%. their purchase prices were between $36.27 and $41.26, with an estimated average price of $38.77. The impact to their portfolio due to this purchase was 0.13%. their holdings were 3,804,512 shares as of 03/31/2010.

Dominion Resources is a producer of energy. Dominion has one of the larger British Thermal Unit production capability among integrated utilities in the northeast quadrant of the United States. Dominion Resources Inc. has a market cap of $24.81 billion; its shares were traded at around $41.35 with a P/E ratio of 12.6 and P/S ratio of 1.6. The dividend yield of Dominion Resources Inc. stocks is 4.4%. Dominion Resources Inc. had an annual average earning growth of 0.8% over the past 10 years.

Added: Sysco Corp. ( SYY)

Diamond Hill Capital added to their holdings in Sysco Corp. by 7%. their purchase prices were between $27 and $29.72, with an estimated average price of $28.37. The impact to their portfolio due to this purchase was 0.13%. their holdings were 4,037,002 shares as of 03/31/2010.

Sysco Corporation is the largest North American distributor of food and food related products to the foodservice or `food-prepared-away-from-home` industry. Sysco Corp. has a market cap of $18.29 billion; its shares were traded at around $30.87 with a P/E ratio of 16.9 and P/S ratio of 0.5. The dividend yield of Sysco Corp. stocks is 3.2%. Sysco Corp. had an annual average earning growth of 10.4% over the past 10 years. GuruFocus rated Sysco Corp. the business predictability rank of 3.5-star.

Added: The Procter & Gamble Company (PG)

Diamond Hill Capital added to their holdings in The Procter & Gamble Company by 4.8%. their purchase prices were between $59.84 and $64.53, with an estimated average price of $62.37. The impact to their portfolio due to this purchase was 0.12%. their holdings were 2,505,936 shares as of 03/31/2010.

The Procter & Gamble Company manufactures and markets a broad range of consumer products in many countries throughout the world. The Procter & Gamble Company has a market cap of $184.7 billion; its shares were traded at around $63.59 with a P/E ratio of 17.2 and P/S ratio of 2.3. The dividend yield of The Procter & Gamble Company stocks is 2.8%. The Procter & Gamble Company had an annual average earning growth of 9.3% over the past 10 years. GuruFocus rated The Procter & Gamble Company the business predictability rank of 5-star.

Added: Kimberlyclark Corp. ( KMB)

Diamond Hill Capital added to their holdings in Kimberlyclark Corp. by 13.62%. their purchase prices were between $58.86 and $64.39, with an estimated average price of $61.09. The impact to their portfolio due to this purchase was 0.12%. their holdings were 929,468 shares as of 03/31/2010.

Kimberly-Clark Corporation is one of the consumer products companies. Kimberlyclark Corp. has a market cap of $25.85 billion; its shares were traded at around $62.12 with a P/E ratio of 13.2 and P/S ratio of 1.4. The dividend yield of Kimberlyclark Corp. stocks is 4.3%. Kimberlyclark Corp. had an annual average earning growth of 3.4% over the past 10 years. GuruFocus rated Kimberlyclark Corp. the business predictability rank of 3.5-star.

Added: Microsoft Corp. ( MSFT)

Diamond Hill Capital added to their holdings in Microsoft Corp. by 4.78%. their purchase prices were between $27.72 and $31.1, with an estimated average price of $29.3. The impact to their portfolio due to this purchase was 0.11%. their holdings were 4,927,495 shares as of 03/31/2010.

Microsoft develops, manufactures, licenses, and supports a wide range of software products for a multitude of computing devices. Microsoft Corp. has a market cap of $275.3 billion; its shares were traded at around $31.39 with a P/E ratio of 16.6 and P/S ratio of 4.7. The dividend yield of Microsoft Corp. stocks is 1.7%.

Added: Fluor Corp. ( FLR)

Diamond Hill Capital added to their holdings in Fluor Corp. by 13.05%. their purchase prices were between $42.44 and $50.2, with an estimated average price of $45.98. The impact to their portfolio due to this purchase was 0.11%. their holdings were 1,265,584 shares as of 03/31/2010.

Fluor is a FORTUNE 500 company that delivers engineering, procurement, construction, maintenance (EPCM), and project management to governments and clients in diverse industries around the world. Fluor Corp. has a market cap of $9.5 billion; its shares were traded at around $53.11 with a P/E ratio of 14.1 and P/S ratio of 0.4. The dividend yield of Fluor Corp. stocks is 1%. Fluor Corp. had an annual average earning growth of 22% over the past 10 years. GuruFocus rated Fluor Corp. the business predictability rank of 2-star.

Added: Dell Inc. ( DELL)

Diamond Hill Capital added to their holdings in Dell Inc. by 8.34%. their purchase prices were between $12.9 and $15.22, with an estimated average price of $14.11. The impact to their portfolio due to this purchase was 0.1%. their holdings were 4,938,223 shares as of 03/31/2010.

Dell Inc. is a premier provider of products and services required for customers worldwide to build their information-technology and Internet infrastructures. Dell Inc. has a market cap of $34.18 billion; its shares were traded at around $17.46 with a P/E ratio of 17.7 and P/S ratio of 0.6. Dell Inc. had an annual average earning growth of 4.1% over the past 10 years.

Added: Apache Corp. ( APA)

Diamond Hill Capital added to their holdings in Apache Corp. by 2.58%. their purchase prices were between $99.72 and $99.8, with an estimated average price of $99.76. The impact to their portfolio due to this purchase was 0.1%. their holdings were 2,443,937 shares as of 03/31/2010.

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 $36.43 billion; its shares were traded at around $108.24 with a P/E ratio of 19.6 and P/S ratio of 4.2. The dividend yield of Apache Corp. stocks is 0.6%. 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: Illinois Tool Works Inc. ( ITW)

Diamond Hill Capital added to their holdings in Illinois Tool Works Inc. by 5.83%. their purchase prices were between $42.25 and $49.95, with an estimated average price of $46.21. The impact to their portfolio due to this purchase was 0.1%. their holdings were 2,397,336 shares as of 03/31/2010.

Illinois Tool Works, Inc. manufactures and markets a variety of productsand systems that provide specific, problem-solving solutions for a diversecustomer base worldwide. Illinois Tool Works Inc. has a market cap of $26.3 billion; its shares were traded at around $52.35 with a P/E ratio of 28.7 and P/S ratio of 1.9. The dividend yield of Illinois Tool Works Inc. stocks is 2.3%. Illinois Tool Works Inc. had an annual average earning growth of 7.7% over the past 10 years. GuruFocus rated Illinois Tool Works Inc. the business predictability rank of 2.5-star.

Added: Walmart Stores Inc. ( WMT)

Diamond Hill Capital added to their holdings in Walmart Stores Inc. by 5.97%. their purchase prices were between $52.61 and $55.99, with an estimated average price of $54.07. The impact to their portfolio due to this purchase was 0.1%. their holdings were 2,011,422 shares as of 03/31/2010.

Wal-Mart Stores, Inc. is the world's largest retailer. Walmart Stores Inc. has a market cap of $204.83 billion; its shares were traded at around $54.49 with a P/E ratio of 14.9 and P/S ratio of 0.5. The dividend yield of Walmart Stores Inc. stocks is 2.2%. Walmart Stores Inc. had an annual average earning growth of 10.3% over the past 10 years. GuruFocus rated Walmart Stores Inc. the business predictability rank of 5-star.

Added: Alliance Data Systems Corp. (ADS)

Diamond Hill Capital added to their holdings in Alliance Data Systems Corp. by 10.79%. their purchase prices were between $64 and $64.39, with an estimated average price of $64.2. The impact to their portfolio due to this purchase was 0.1%. their holdings were 935,735 shares as of 03/31/2010.

Alliance Data Systems Corporation is a provider of transaction services, credit services and marketing services to retail companies in North America. Alliance Data Systems Corp. has a market cap of $3.86 billion; its shares were traded at around $73.51 with a P/E ratio of 15.5 and P/S ratio of 1.9. Alliance Data Systems Corp. had an annual average earning growth of 27% over the past 10 years.

Added: Anadarko Petroleum Corp. ( APC)

Diamond Hill Capital added to their holdings in Anadarko Petroleum Corp. by 2.67%. their purchase prices were between $71.53 and $72.35, with an estimated average price of $71.94. The impact to their portfolio due to this purchase was 0.1%. their holdings were 3,114,329 shares as of 03/31/2010.

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 $36.75 billion; its shares were traded at around $73.37 with and P/S ratio of 4. The dividend yield of Anadarko Petroleum Corp. stocks is 0.5%. 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: Southwestern Energy Company ( SWN)

Diamond Hill Capital added to their holdings in Southwestern Energy Company by 34.54%. their purchase prices were between $37.7 and $51.65, with an estimated average price of $44.51. The impact to their portfolio due to this purchase was 0.1%. their holdings were 552,787 shares as of 03/31/2010.

Southwestern Energy Company is an energy company primarily focused on natural gas. Southwestern Energy Company has a market cap of $14.37 billion; its shares were traded at around $41.51 with a P/E ratio of 27.5 and P/S ratio of 6.7. Southwestern Energy Company had an annual average earning growth of 20% over the past 10 years.

Added: King Pharmaceuticals Inc. (KG)

Diamond Hill Capital added to their holdings in King Pharmaceuticals Inc. by 20.52%. their purchase prices were between $11.17 and $13.08, with an estimated average price of $12.11. The impact to their portfolio due to this purchase was 0.08%. their holdings were 2,438,444 shares as of 03/31/2010.

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 $2.76 billion; its shares were traded at around $11.1 with a P/E ratio of 10.1 and P/S ratio of 1.6.

Added: Horace Mann Educators Corp. ( HMN)

Diamond Hill Capital added to their holdings in Horace Mann Educators Corp. by 31.4%. their purchase prices were between $11.5 and $15.19, with an estimated average price of $13.38. The impact to their portfolio due to this purchase was 0.05%. their holdings were 814,845 shares as of 03/31/2010.

Horace Mann Educators Corporation is a multiline insurance holding company that targets the US educator market. Horace Mann Educators Corp. has a market cap of $620.4 million; its shares were traded at around $15.82 with a P/E ratio of 11.3 and P/S ratio of 0.7. The dividend yield of Horace Mann Educators Corp. stocks is 2.1%. Horace Mann Educators Corp. had an annual average earning growth of 3.6% over the past 10 years.

Added: The First American Corp. ( FAF)

Diamond Hill Capital added to their holdings in The First American Corp. by 22.31%. their purchase prices were between $29.57 and $35.69, with an estimated average price of $32.19. The impact to their portfolio due to this purchase was 0.05%. their holdings were 510,089 shares as of 03/31/2010.

The First American Corp. is the nation's provider of business information and related products and services. The First American Corp. has a market cap of $3.81 billion; its shares were traded at around $36.78 with a P/E ratio of 16 and P/S ratio of 0.6. The dividend yield of The First American Corp. stocks is 2.4%.

Added: National Penn Bancshares Inc. ( NPBC)

Diamond Hill Capital added to their holdings in National Penn Bancshares Inc. by 32.61%. their purchase prices were between $5.7 and $7.35, with an estimated average price of $6.64. The impact to their portfolio due to this purchase was 0.03%. their holdings were 1,056,499 shares as of 03/31/2010.

NATIONAL PENN BANCSHARES, INC is a bank holding company engaged in general banking business. National Penn Bancshares Inc. has a market cap of $1.02 billion; its shares were traded at around $8.1 with and P/S ratio of 2.4. The dividend yield of National Penn Bancshares Inc. stocks is 0.5%.

Added: Global Sources Ltd. ( GSOL)

Diamond Hill Capital added to their holdings in Global Sources Ltd. by 66.83%. their purchase prices were between $6.03 and $7.04, with an estimated average price of $6.51. The impact to their portfolio due to this purchase was 0.02%. their holdings were 567,250 shares as of 03/31/2010.

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 $315 million; its shares were traded at around $7.07 with a P/E ratio of 18.6 and P/S ratio of 1.8.

Added: United Fire & Casualty Company ( UFCS)

Diamond Hill Capital added to their holdings in United Fire & Casualty Company by 32.3%. their purchase prices were between $16.29 and $18.6, with an estimated average price of $17.49. The impact to their portfolio due to this purchase was 0.02%. their holdings were 328,090 shares as of 03/31/2010.

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 $510.5 million; its shares were traded at around $19.35 with and P/S ratio of 0.9. The dividend yield of United Fire & Casualty Company stocks is 3.1%.

Added: Forest Laboratories Inc. ( FRX)

Diamond Hill Capital added to their holdings in Forest Laboratories Inc. by 40.38%. their purchase prices were between $28.76 and $32.46, with an estimated average price of $30.51. The impact to their portfolio due to this purchase was 0.01%. their holdings were 104,310 shares as of 03/31/2010.

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 $8.18 billion; its shares were traded at around $27.05 with a P/E ratio of 7.9 and P/S ratio of 2.2. Forest Laboratories Inc. had an annual average earning growth of 20.9% over the past 10 years. GuruFocus rated Forest Laboratories Inc. the business predictability rank of 2-star.

Added: Morgan Stanley (MS)

Diamond Hill Capital added to their holdings in Morgan Stanley by 181.41%. their purchase prices were between $26.6 and $32.92, with an estimated average price of $29.04. The impact to their portfolio due to this purchase was 0.01%. their holdings were 20,290 shares as of 03/31/2010.

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 $44.6 billion; its shares were traded at around $31.9 with and P/S ratio of 2. The dividend yield of Morgan Stanley stocks is 0.7%.

Added: First California Financial Group Inc. (FCAL)

Diamond Hill Capital added to their holdings in First California Financial Group Inc. by 638.42%. their purchase prices were between $2.55 and $3.37, with an estimated average price of $2.9. The impact to their portfolio due to this purchase was less than 0.01%. their holdings were 92,531 shares as of 03/31/2010.

NATIONAL MERCANTILE BANCORP principal business is to serve as a holding company for Mercantile National Bank, and for other banking or banking-related subsidiaries which the Co. First California Financial Group Inc. has a market cap of $35.4 million; its shares were traded at around $3.04 with and P/S ratio of 0.5.

New Purchase: 3m Company ( MMM)

Diamond Hill Capital initiated holdings in 3m Company. their purchase prices were between $77.53 and $85.12, with an estimated average price of $81.6. The impact to their portfolio due to this purchase was 0.51%. their holdings were 367,186 shares as of 03/31/2010.

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 $61.26 billion; its shares were traded at around $86.05 with a P/E ratio of 18.4 and P/S ratio of 2.6. The dividend yield of 3m Company stocks is 2.5%. 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.

New Purchase: Energizer Holdings Inc. ( ENR)

Diamond Hill Capital initiated holdings in Energizer Holdings Inc.. their purchase prices were between $54.79 and $65.53, with an estimated average price of $59.79. The impact to their portfolio due to this purchase was 0.35%. their holdings were 334,699 shares as of 03/31/2010.

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 $4.27 billion; its shares were traded at around $61.08 with a P/E ratio of 11.9 and P/S ratio of 1.1. 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.

New Purchase: Denbury Resources Inc. ( DNR)

Diamond Hill Capital initiated holdings in Denbury Resources Inc.. their purchase prices were between $13.55 and $16.74, with an estimated average price of $15.12. The impact to their portfolio due to this purchase was 0.25%. their holdings were 873,598 shares as of 03/31/2010.

Denbury Resources Inc. is a Canadian corp. organized under the Canada Business Corp Act engaged in the acquisition, development, operation and exploration of oil and gas properties primarily in the Gulf Coast region of the U. Denbury Resources Inc. has a market cap of $4.73 billion; its shares were traded at around $18.01 with a P/E ratio of 26.2 and P/S ratio of 5.4. Denbury Resources Inc. had an annual average earning growth of 8.1% over the past 10 years. GuruFocus rated Denbury Resources Inc. the business predictability rank of 4-star.

New Purchase: Corrections Corp. Of America New ( CXW)

Diamond Hill Capital initiated holdings in Corrections Corp. Of America New. their purchase prices were between $17.83 and $24.98, with an estimated average price of $20.92. The impact to their portfolio due to this purchase was 0.23%. their holdings were 701,510 shares as of 03/31/2010.

Corrections Corporation of America Company is the one of nation's largest providers of detention and corrections services to governmental agencies. Corrections Corp. Of America New has a market cap of $2.47 billion; its shares were traded at around $21.29 with a P/E ratio of 16.7 and P/S ratio of 1.5. Corrections Corp. Of America New had an annual average earning growth of 6.7% over the past 10 years.

New Purchase: Lance Inc. ( LNCE)

Diamond Hill Capital initiated holdings in Lance Inc.. their purchase prices were between $21.15 and $26.93, with an estimated average price of $22.73. The impact to their portfolio due to this purchase was 0.15%. their holdings were 398,257 shares as of 03/31/2010.

Lance Inc. manufactures, markets and distributes a variety of branded and private label snack foods and bakery products. Lance Inc. has a market cap of $759.1 million; its shares were traded at around $23.69 with a P/E ratio of 19.9 and P/S ratio of 0.8. The dividend yield of Lance Inc. stocks is 2.7%.

New Purchase: Wilmington Trust Corp. (WL)

Diamond Hill Capital initiated holdings in Wilmington Trust Corp.. their purchase prices were between $12.18 and $16.64, with an estimated average price of $14.17. The impact to their portfolio due to this purchase was 0.11%. their holdings were 383,046 shares as of 03/31/2010.

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 $1.78 billion; its shares were traded at around $20.16 with a P/E ratio of 74.7 and P/S ratio of 2.3. The dividend yield of Wilmington Trust Corp. stocks is 0.2%.

New Purchase: Saia Inc. (SAIA)

Diamond Hill Capital initiated holdings in Saia Inc.. their purchase prices were between $11.35 and $16.23, with an estimated average price of $13.04. The impact to their portfolio due to this purchase was 0.11%. their holdings were 459,404 shares as of 03/31/2010.

SCS Trans Inc is a transportation company that provides a variety of trucking transportation and supply chain solutions to a broad range of industries, including the retail, petrochemical and manufacturing industries. Saia Inc. has a market cap of $237.8 million; its shares were traded at around $14.99 with and P/S ratio of 0.3.

New Purchase: Arch Capital Group Ltd. ( ACGL)

Diamond Hill Capital initiated holdings in Arch Capital Group Ltd.. their purchase prices were between $75.15 and $75.48, with an estimated average price of $75.32. The impact to their portfolio due to this purchase was 0.1%. their holdings were 80,958 shares as of 03/31/2010.

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 $4 billion; its shares were traded at around $75.73 with a P/E ratio of 7.2 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.

New Purchase: Sterling Bancorp ( STL)

Diamond Hill Capital initiated holdings in Sterling Bancorp. their purchase prices were between $7 and $9.62, with an estimated average price of $8.07. The impact to their portfolio due to this purchase was 0.03%. their holdings were 183,622 shares as of 03/31/2010.

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 $181.2 million; its shares were traded at around $10 with a P/E ratio of 27.1 and P/S ratio of 1.2. The dividend yield of Sterling Bancorp stocks is 3.6%.

New Purchase: Liquidity Services Inc. (LQDT)

Diamond Hill Capital initiated holdings in Liquidity Services Inc.. their purchase prices were between $10.07 and $12.84, with an estimated average price of $11.6. The impact to their portfolio due to this purchase was 0.02%. their holdings were 115,120 shares as of 03/31/2010.

Liquidity Services, Inc. is a online auction marketplace for wholesale, surplus and salvage assets. Liquidity Services Inc. has a market cap of $318 million; its shares were traded at around $11.72 with a P/E ratio of 37.8 and P/S ratio of 1.3.

New Purchase: Discover Financial Services ( DFS)

Diamond Hill Capital initiated holdings in Discover Financial Services. their purchase prices were between $12.76 and $15.52, with an estimated average price of $14.25. The impact to their portfolio due to this purchase was 0.01%. their holdings were 29,270 shares as of 03/31/2010.

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 $8.6 billion; its shares were traded at around $15.82 with a P/E ratio of 66 and P/S ratio of 0.8. The dividend yield of Discover Financial Services stocks is 0.5%.

New Purchase: American Express Company ( AXP)

Diamond Hill Capital initiated holdings in American Express Company. their purchase prices were between $41.29 and $41.48, with an estimated average price of $41.39. The impact to their portfolio due to this purchase was 0.01%. their holdings were 13,915 shares as of 03/31/2010.

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 $55.87 billion; its shares were traded at around $46.77 with a P/E ratio of 32.5 and P/S ratio of 2.2. The dividend yield of American Express Company stocks is 1.6%.

New Purchase: Diamond Hill Financial Trends Fund Inc. (DHFT)

Diamond Hill Capital initiated holdings in Diamond Hill Financial Trends Fund Inc.. their purchase prices were between $7.81 and $9.3, with an estimated average price of $8.45. The impact to their portfolio due to this purchase was less than 0.01%. their holdings were 8,460 shares as of 03/31/2010.

Diamond Hill Financial Trends Fund Inc. has a market cap of $61.6 million; its shares were traded at around $9.8 . The dividend yield of Diamond Hill Financial Trends Fund Inc. stocks is 3.5%.

Reduced: Comerica Inc. ( CMA)

Diamond Hill Capital reduced to their holdings in Comerica Inc. by 26.7%. their sale prices were between $29.57 and $38.43, with an estimated average price of $35.13. The impact to their portfolio due to this sale was less than 0.01%. Diamond Hill Capital still held 10,772 shares as of 03/31/2010.

Comerica Inc. is a registered bank holding company. Comerica Inc. has a market cap of $7.76 billion; its shares were traded at around $44.6 with and P/S ratio of 2.6. The dividend yield of Comerica Inc. stocks is 0.5%.

Reduced: Analogic Corp. ( ALOG)

Diamond Hill Capital reduced to their holdings in Analogic Corp. by 28.6%. their sale prices were between $41.62 and $43.14, with an estimated average price of $42.38. The impact to their portfolio due to this sale was -0.01%. Diamond Hill Capital still held 63,443 shares as of 03/31/2010.

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 $587.7 million; its shares were traded at around $45.59 with a P/E ratio of 64.3 and P/S ratio of 1.5. The dividend yield of Analogic Corp. stocks is 0.9%.

Reduced: Be Aerospace Inc. ( BEAV)

Diamond Hill Capital reduced to their holdings in Be Aerospace Inc. by 86.58%. their sale prices were between $22.43 and $30.55, with an estimated average price of $26.23. The impact to their portfolio due to this sale was -0.02%. Diamond Hill Capital still held 46,175 shares as of 03/31/2010.

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 $3.1 billion; its shares were traded at around $30.37 with a P/E ratio of 19.9 and P/S ratio of 1.6.

Reduced: Inventiv Health, Inc. ( VTIV)

Diamond Hill Capital reduced to their holdings in Inventiv Health, Inc. by 40.54%. their sale prices were between $14.01 and $22.58, with an estimated average price of $16.03. The impact to their portfolio due to this sale was -0.03%. Diamond Hill Capital still held 191,232 shares as of 03/31/2010.

inVentiv Health is the provider of commercialization and complementary services to the global pharmaceutical, life sciences and biotechnology industries. Inventiv Health, Inc. has a market cap of $816.4 million; its shares were traded at around $24.16 with a P/E ratio of 17.3 and P/S ratio of 0.8. Inventiv Health, Inc. had an annual average earning growth of 35% over the past 10 years.

Reduced: City National Corp. ( CYN)

Diamond Hill Capital reduced to their holdings in City National Corp. by 36.16%. their sale prices were between $45.6 and $54.86, with an estimated average price of $50.01. The impact to their portfolio due to this sale was -0.03%. Diamond Hill Capital still held 85,210 shares as of 03/31/2010.

City National Corporation conducts its operations through its primary subsidiary City National Bank. City National Corp. has a market cap of $3.08 billion; its shares were traded at around $58.91 with a P/E ratio of 368.2 and P/S ratio of 3.2. The dividend yield of City National Corp. stocks is 0.7%.

Reduced: The Toro Company ( TTC)

Diamond Hill Capital reduced to their holdings in The Toro Company by 23.62%. their sale prices were between $37.87 and $50.55, with an estimated average price of $43.88. The impact to their portfolio due to this sale was -0.04%. Diamond Hill Capital still held 236,339 shares as of 03/31/2010.

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 $1.9 billion; its shares were traded at around $56.6 with a P/E ratio of 28.4 and P/S ratio of 1.3. The dividend yield of The Toro Company stocks is 1.3%. The Toro Company had an annual average earning growth of 4.8% over the past 10 years. GuruFocus rated The Toro Company the business predictability rank of 2.5-star.

Reduced: Ruddick Corp. ( RDK)

Diamond Hill Capital reduced to their holdings in Ruddick Corp. by 35.55%. their sale prices were between $25.48 and $32.29, with an estimated average price of $28.56. The impact to their portfolio due to this sale was -0.04%. Diamond Hill Capital still held 184,936 shares as of 03/31/2010.

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 $1.64 billion; its shares were traded at around $33.59 with a P/E ratio of 17.4 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 8.3% over the past 10 years. GuruFocus rated Ruddick Corp. the business predictability rank of 2-star.

Reduced: Csg Systems International Inc. ( CSGS)

Diamond Hill Capital reduced to their holdings in Csg Systems International Inc. by 51.13%. their sale prices were between $17.75 and $22.09, with an estimated average price of $20.06. The impact to their portfolio due to this sale was -0.05%. Diamond Hill Capital still held 261,979 shares as of 03/31/2010.

CSG Systems International Inc. is a provider of outsourced billing, customer care and print and mail solutions and services supporting the North American cable and direct broadcast satellite markets. Csg Systems International Inc. has a market cap of $805.7 million; its shares were traded at around $22.65 with a P/E ratio of 14.2 and P/S ratio of 1.6.

Reduced: Steiner Leisure Ltd. ( STNR)

Diamond Hill Capital reduced to their holdings in Steiner Leisure Ltd. by 20.7%. their sale prices were between $37.59 and $45.29, with an estimated average price of $41.61. The impact to their portfolio due to this sale was -0.06%. Diamond Hill Capital still held 385,940 shares as of 03/31/2010.

Steiner Leisure Limited is the worldwide provider of spa services and skin and hair care products on board cruise ships. Steiner Leisure Ltd. has a market cap of $687.8 million; its shares were traded at around $46.72 with a P/E ratio of 17.6 and P/S ratio of 1.4. Steiner Leisure Ltd. had an annual average earning growth of 12.2% over the past 10 years. GuruFocus rated Steiner Leisure Ltd. the business predictability rank of 4.5-star.

Reduced: Trinity Industries Inc. ( TRN)

Diamond Hill Capital reduced to their holdings in Trinity Industries Inc. by 63.76%. their sale prices were between $15.22 and $20.58, with an estimated average price of $17.66. The impact to their portfolio due to this sale was -0.09%. Diamond Hill Capital still held 408,198 shares as of 03/31/2010.

Trinity Industries, Inc. is engaged in the manufacture, marketing, and leasing of a wide variety of products consisting of the following business segments or groups: Railcar Group, Inland Barge Group, Parts and Services Group, Highway Construction Product Group, Concrete & Aggregate Group, Industrial Group, and others. Trinity Industries Inc. has a market cap of $2.04 billion; its shares were traded at around $25.77 with a P/E ratio of 19.1 and P/S ratio of 0.7. The dividend yield of Trinity Industries Inc. stocks is 1.3%.

Reduced: Cisco Systems Inc. ( CSCO)

Diamond Hill Capital reduced to their holdings in Cisco Systems Inc. by 48.11%. their sale prices were between $22.47 and $26.65, with an estimated average price of $24.63. The impact to their portfolio due to this sale was -0.5%. Diamond Hill Capital still held 2,395,781 shares as of 03/31/2010.

Cisco Systems, Inc. is the worldwide leader in networking for the Internet. Cisco Systems Inc. has a market cap of $156.42 billion; its shares were traded at around $27.32 with a P/E ratio of 23.8 and P/S ratio of 4.3. Cisco Systems Inc. had an annual average earning growth of 20% over the past 10 years. GuruFocus rated Cisco Systems Inc. the business predictability rank of 3.5-star.

Sold Out: Cardinal Health Inc. ( CAH)

Diamond Hill Capital sold out their holdings in Cardinal Health Inc.. their sale prices were between $31.31 and $36.45, with an estimated average price of $33.73.

Cardinal Health, Inc. is one of the providers of products and services to healthcare providers and manufacturers to help them improve the efficiency and quality of healthcare. Cardinal Health Inc. has a market cap of $12.99 billion; its shares were traded at around $35.94 with a P/E ratio of 12.2 and P/S ratio of 0.1. The dividend yield of Cardinal Health Inc. stocks is 2%. Cardinal Health Inc. had an annual average earning growth of 6% over the past 10 years. GuruFocus rated Cardinal Health Inc. the business predictability rank of 3-star.

Sold Out: Avery Dennison Corp. ( AVY)

Diamond Hill Capital sold out their holdings in Avery Dennison Corp.. their sale prices were between $36.08 and $36.17, with an estimated average price of $36.13.

Avery Dennision Corporation produces pressure-sensitive adhesives and materials and the production of consumer and converted products. Avery Dennison Corp. has a market cap of $4.32 billion; its shares were traded at around $38.57 with a P/E ratio of 22.1 and P/S ratio of 0.7. The dividend yield of Avery Dennison Corp. stocks is 2.2%.

Sold Out: Brinks Home Security Holdings Inc (CFL)

Diamond Hill Capital sold out their holdings in Brinks Home Security Holdings Inc. their sale prices were between $31.36 and $42.6, with an estimated average price of $39.83.

BRINK'S HOME SECURITY HOLDINGS, INC. is one of the premier providers of security system monitoring services for residential and commercial properties in North America. Brinks Home Security Holdings Inc has a market cap of $1.97 billion; its shares were traded at around $42.85 with a P/E ratio of 25.4 and P/S ratio of 3.5.

Sold Out: Hanesbrands Inc. ( HBI)

Diamond Hill Capital sold out their holdings in Hanesbrands Inc.. their sale prices were between $21.67 and $28.14, with an estimated average price of $24.95.

Hanesbrands Inc. is a marketer of innerwear, outerwear and hosiery apparel under strong consumer brands, including Hanes, Champion, Playtex, Bali, Just My Size, barely there and Wonderbra. Hanesbrands Inc. has a market cap of $2.94 billion; its shares were traded at around $30.79 with a P/E ratio of 19.5 and P/S ratio of 0.7.

Sold Out: Seacoast Banking Corp. Of Florida (SBCF)

Diamond Hill Capital sold out their holdings in Seacoast Banking Corp. Of Florida. their sale prices were between $1.37 and $2.04, with an estimated average price of $1.69.

Seacoast Banking Corp of Florida is a bank holding company. Seacoast Banking Corp. Of Florida has a market cap of $115.5 million; its shares were traded at around $1.96 with and P/S ratio of 0.9.

Sold Out: Ishares Russell 1000 Index Fund (IWB)

Diamond Hill Capital sold out their holdings in Ishares Russell 1000 Index Fund. their sale prices were between $58.25 and $65.07, with an estimated average price of $61.98.

Ishares Russell 1000 Index Fund has a market cap of $5.31 billion; its shares were traded at around $66.96 . The dividend yield of Ishares Russell 1000 Index Fund stocks is 1.4%.

Sold Out: Synovus Financial Corp. ( SNV)

Diamond Hill Capital sold out their holdings in Synovus Financial Corp.. their sale prices were between $2.05 and $3.75, with an estimated average price of $2.83.

Synovus Financial Corp. is engaged in two reportable business segments: banking, which is primarily involved in commercial banking activities and also provides retail banking, trust services, mortgage banking, securities brokerage and insurance services, and transaction processing, which includes credit, debit, commercial and retail card processing and related services and debt collection and bankruptcy management services. Synovus Financial Corp. has a market cap of $1.79 billion; its shares were traded at around $3.65 with and P/S ratio of 0.9. The dividend yield of Synovus Financial Corp. stocks is 1%.

Sold Out: Southwest Airlines Co. ( LUV)

Diamond Hill Capital sold out their holdings in Southwest Airlines Co.. their sale prices were between $11.03 and $13.18, with an estimated average price of $12.11.

Southwest Airlines is a major domestic airline that provides primarily shorthaul, high-frequency, point-to-point, low-fare service. Southwest Airlines Co. has a market cap of $9.99 billion; its shares were traded at around $13.44 with a P/E ratio of 74.6 and P/S ratio of 1. The dividend yield of Southwest Airlines Co. stocks is 0.1%. Southwest Airlines Co. had an annual average earning growth of 1.4% over the past 10 years.

Sold Out: Aflac Inc. ( AFL)

Diamond Hill Capital sold out their holdings in Aflac Inc.. their sale prices were between $53.65 and $53.79, with an estimated average price of $53.72.

AFLAC Inc. is a general business holding company and acts as a management company, overseeing the operations of its subsidiaries by providing management services and making capital available. Aflac Inc. has a market cap of $25.62 billion; its shares were traded at around $54.6 with a P/E ratio of 11.4 and P/S ratio of 1.4. The dividend yield of Aflac Inc. stocks is 2.1%. Aflac Inc. had an annual average earning growth of 11.5% over the past 10 years. GuruFocus rated Aflac Inc. the business predictability rank of 3-star.


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