Diamond Hill Capital

Diamond Hill Capital

Last Update: 2014-08-11

Number of Stocks: 148
Number of New Stocks: 6

Total Value: $12,710 Mil
Q/Q Turnover: 9%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Diamond Hill Capital' s Profile & Performance

Profile

Established in 2000, Diamond Hill Capital Management, Inc. is a registered investment adviser based in Columbus, Ohio. It is independent and publicly owned, listed on NASDAQ (ticker symbol: DHIL) and included in the Russell 2000 Index.

Diamond Hill manages seven traditional and alternative equity strategies, available in separately managed accounts, mutual funds and private investment funds. Our client base includes institutions, financial intermediaries and individuals. Assets under management as of November 30, 2009 were $5.9 billion.

Web Page:http://www.diamond-hill.com/

Investing Philosophy

"Our research is predominantly a bottom-up process beginning with fundamental analysis of a company's profitability and market position, financial and competitive position, management quality, valuation, and growth components of valuation. Top-down analysis is focused on industry dynamics, including sector economic factors, long-term capital flows, and the regulatory environment, not on macro-economic factors. Investment team insight and experience is then applied to further narrow the universe of investable ideas for deeper analysis including the creation of a financial model."

"we estimate the intrinsic value for each potential holding, which is independent of its current stock price. This price may be higher or lower than intrinsic value at any point in time. The process begins with consensus estimates for company data, and then the initial appraisal is modified based on further refinement by our research analysts. Our investment process continually compares market price to our estimate of intrinsic value, which is updated over time as new information arises."

Total Holding History

Performance of Small Cap Fund

YearReturn (%)S&P500 (%)Excess Gain (%)
201339.731.558.2
201212.8815.4-2.5
2011-7.172.08-9.2
3-Year Cumulative46.4 (13.5%/year)55 (15.7%/year)-8.6 (-2.2%/year)
201022.9915.067.9
200928.9226.462.5
5-Year Cumulative132.1 (18.3%/year)125.5 (17.7%/year)6.6 (0.6%/year)
2008-25.99-3711.0
2007-3.795.61-9.4
20067.0315.79-8.8
200512.94.918.0
200429.261217.3
10-Year Cumulative158.1 (9.9%/year)104.1 (7.4%/year)54 (2.5%/year)
200350.1828.721.5
2002-8.23-22.113.9
200125.46-11.937.4

Top Ranked Articles

Diamond Hill Capital Sees Value in Comcast, VF, CareFusion and Staples
In the fourth quarter, Diamond Hill Capital Management (DHIL) added only four new stocks to their portfolio: Comcast (CMCSA), VF Corp. (VFC), Carefusion Corp. (CFN) and Staples (SPLS). Diamond Hill are value investors looking for companies worth significantly less than their intrinsic value. Over the last ten years, Diamond Hill’s small cap fund returned 125.6%, beating the S&P 500’s 34.9% return. Read more...
Diamond Hill Capital's Top 5 Third Quarter New Buys
Diamond Hill Capital Management Inc., an investment adviser based in Columbus, Ohio and established in 2000, announced its third-quarter portfolio this week. The firm had $7.7 billion in assets under management as of Sept. 30, 2011. Read more...
Diamond Hill Capital Comments on Procter & Gamble
Consumer products company Procter & Gamble Co. (PG) rallied on news that activist investor Bill Ackman purchased a sizable stake in the company. In addition, investors responded favorably to the company's decision to reinstate share repurchases. Read more...
Diamond Hill Capital Buys 4 Stocks, All Financials
Diamond Hill Capital has updated its third-quarter portfolio, which includes four new stocks: Citigroup (C), American International Group (AIG), KeyCorp (KEY) and Fortress Investment Group (FIG). Read more...
Top Dividend Stocks from Diamond Hill
Diamond Hill Capital Management Inc. is a registered investment adviser based in Columbus, Ohio. It is an independent and publicly owned listed company founded in 2000. Read more...
» More Diamond Hill Capital Articles

Commentaries and Stories

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I Think Juniper Still Has Plenty of Room
In this article, let's take a look at Juniper Networks, Inc. (JNPR), a $10.61 billion market cap company, which provides Internet Protocol networking products and services, with an emphasis on telecom routing solutions. More...

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Diamond Hill Capital Comments on Core-Mark Holding Co Inc
We eliminated our position in convenience store distributor Core-Mark Holding Co., Inc.( CORE) as the stock rose almost 40% over the last year and reached our estimate of intrinsic value. More...

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Diamond Hill Capital Comments on Actavis PLC
We eliminated our position in specialty pharmaceutical company Actavis PLC (ACT) as the price to intrinsic value relationship narrowed. We originally received shares when Actavis bought portfolio holding Warner Chilcott. More...

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Diamond Hill Capital Comments on State Bank Financial Corp
We took advantage of an opportunity to purchase shares in the heavily capitalized Georgia bank State Bank Financial Corp. (STBZ) as the depressed stock price reflected investors’ lack of patience with a slower than expected pace of capital deployment. We like State Bank’s management team led by Georgia banker Joe Evans. This management team has experience successfully building and selling other Georgia banks. More...

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Diamond Hill Capital Comments on DST Systems Inc
Information processing company DST Systems, Inc. (DST) declined as the company conducted a secondary offering of common stock for a selling shareholder, Argyros Group. More...

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Diamond Hill Capital Comments on Hyster-Yale Materials Handling Inc
Lift truck manufacturer Hyster-Yale Materials Handling, Inc. (HY) declined after the company provided qualitative guidance for the remainder of 2014 that may have been viewed negatively by some investors. Revenues and pre-tax income both increased during the quarter, but after-tax net income declined as a result of a higher tax rate. More...

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Diamond Hill Capital Comments on Contango Oil & Gas Co
Shares of oil and gas exploration and production company Contango Oil & Gas Co. (MCF) fell, reflecting disappointing results from an exploration well in the Gulf of Mexico. More...

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Diamond Hill Capital Comments on Steiner Leisure Ltd
Consumer products and services company Steiner Leisure Ltd. (STNR) declined after the company reported its first quarter earnings. The company did not repurchase shares during the quarter despite declines in its stock price following the late 2013 announcement of a non-renewal by Celebrity Cruise Lines. In addition, the quarter reflected continued weakness in the company’s Ideal Image laser hair removal business. Later in the quarter, the company announced a 10b5-1 plan under which the company can repurchase shares according to a pre-set plan. More...

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Diamond Hill Capital Comments on Liquidity Services Inc
Online auction marketplace service provider Liquidity Services, Inc. (LQDT) lost a 2015 rolling stock Department of Defense contract but was the winner of the non-rolling stock contract. However, its winning bid of 4.35% was much higher than the historical contracted rate of 1.8%. This will considerably raise the cost of goods sold of its non-rolling stock segment, thus having a material impact on its profitability. More...

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Diamond Hill Capital Comments on Trinity Industries Inc
Railroad service company Trinity Industries, Inc. (TRN) reported better than expected revenue and profitability based on continued strength in demand for tank cars coupled with a meaningful positive impact from a large new customer (Element Financial). More...

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Diamond Hill Capital Comments on Rosetta Resources Inc
Oil and gas exploration and production company Rosetta Resources, Inc. (ROSE) rose in anticipation of an ease in regulations on the exportation of condensate, an ultra-light oil that undergoes minimal processing. This could allow the condensate to be exported at higher prices, alleviating a potential condensate glut in the U.S. and benefitting Rosetta. More...

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Diamond Hill Capital Comments on Avis Budget Group Inc
Auto rental company Avis Budget Group, Inc. (CAR) reported strong quarterly results, and pricing appeared to be in line with management’s plans in the important summer months. We estimate the company could generate $4 per share in free cash flow per share in 2015. In addition, competitor Hertz announced a multi-period earnings restatement, potentially reducing the probability that one of Avis’s two main competitors will take more aggressive pricing actions. More...

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Diamond Hill Small Cap Fund Second Quarter 2014 Commentary
The Fund increased 6.16% (Class I) during the quarter, compared to a 2.05% increase in the Russell 2000 Index. More...

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Diamond Hill Capital Comments on Baxter International Inc
We sold our shares of medical supply manufacturer Baxter International, Inc. (BAX) after we marginally lowered our intrinsic value estimate to reflect an increased likelihood of more meaningful competition for its Hemophilia franchise. This resulted in an insufficient discount to our estimate of intrinsic value, and we exited the position. More...

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Diamond Hill Capital Comments on General Mills Inc
We eliminated our position in consumer products manufacturer General Mills, Inc. (GIS) as we were disappointed with challenging industry conditions in several of General Mills’ categories. More...

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Diamond Hill Capital Comments on Valeant Pharmaceuticals International Inc
We initiated a position in Valeant Pharmaceuticals International, Inc., (VRX) a specialty pharmaceutical company that is a leader in eye care and dermatology. Unlike most in the pharmaceutical space, Valeant has a very lean cost structure and a much more targeted focus for internal research and development. Instead, the company has been very successful in acquiring proven products. Management is among the best in the business, making every decision through the lens of shareholder value creation. More...

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Diamond Hill Capital Comments on Twenty-First Century Fox Inc
We purchased shares of Twenty-First Century Fox, Inc., (FOXA) a global media content company that monetizes a variety of sports and general entertainment content via a number of different global channels including broadcast TV, cable TV and movies. Fox split from News Corp in 2013 making it a pure play TV and movie content company which we believe deserves a premium valuation due to its future growth prospects. Fox is well positioned to expand its sports and general entertainment content in the U.S. and in international markets which should lead to higher revenue growth and an increase in operating margins going forward. We also believe Fox’s management will be prudent with its capital allocation strategy and will use its free cash flow to repurchase shares and invest in secular growth opportunities. More...

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Diamond Hill Capital Comments on MetLife Inc
Global life insurer MetLife, Inc. (MET) was trading at a significant discount to our estimate of its intrinsic value due to uncertainty regarding capital requirements that may result from MetLife being designated as a non-bank “systemically important financial institution” (SIFI). In addition, the stock price did not seem to reflect the steady improvements in MetLife’s risk profile since CEO Steve Kandarian took over in 2011. More...

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Diamond Hill Capital Comments on Whirlpool Corp
Household durables manufacturer Whirlpool Corp. (WHR) struggled in the quarter as the company made some cautious comments regarding volumes for the period pushing growth into the second half of the year. More...

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Diamond Hill Capital Comments on Pfizer Inc
Shares of pharmaceutical company Pfizer, Inc. (PFE) declined after multiple attempts to merge with UK competitor AstraZeneca ultimately failed. More...

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