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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
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Buyside Digest is not affiliated with, and does not endorse, Diamond Hill Small-Mid Cap Strategy. This analysis is provided for institutional research purposes only and is not investment advice.
"Diamond Hill's Small-Mid Cap and Mid Cap strategies posted mixed Q1 2023 performance, with both underperforming their respective benchmarks. The portfolios maintain diversified sector exposure led by Industrials and Financials, with cash positions around 4-5%."
This document presents Diamond Hill's Small-Mid Cap and Mid Cap composite holdings and performance data as of March 31, 2023. The Small-Mid Cap composite delivered 2.83% net returns in Q1 2023, underperforming the Russell 2500 Index which returned 3.39%. Since inception in December 2005, the strategy has generated 8.19% annualized net returns. The Mid Cap composite posted -2.00% net returns in Q1 2023, underperforming the Russell Midcap Index which gained 4.06%. Since inception in December 2013, this strategy has delivered 6.39% annualized net returns. Both portfolios maintain diversified holdings across multiple sectors, with Industrials representing the largest allocation at approximately 29% in Small-Mid Cap and 22% in Mid Cap. Financials constitute the second-largest sector weight at 17% in both strategies. The portfolios hold between 4-5% cash positions and feature holdings ranging from large positions like WESCO International at 6.3% to smaller allocations under 1%. No investment commentary or forward-looking statements are provided in this holdings report.
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