Diamond Hill
Diamond Hill Large Cap Fund
US Large-cap
Dec 2024 → Jun 2026
Our archive holds 6 letters from this strategy, behind 11 investment theses and positions in 28 companies. Every quote below is copied verbatim from the letter it came from.
6 letters in 3 years — follow all of Diamond Hill for every strategy.
What it bought and sold
Elevance Health is one of the largest health insurers in the US.
FedEx Freight is a spin-off of shipping company FedEx Corp., creating a standalone less-than-truckload (LTL) carrier that is the industry’s largest by revenue.
Shares of automaker General Motors, electrical product manufacturer Regal Rexnord, coffee chain Starbucks and SS&C Technologies, a diversified provider of tech-enabled services and software to the financial services industry, were sold to allocate funds to more attractive opportunities.
Shares of automaker General Motors, electrical product manufacturer Regal Rexnord, coffee chain Starbucks and SS&C Technologies, a diversified provider of tech-enabled services and software to the financial services industry, were sold to allocate funds to more attractive opportunities.
Given the fundamental headwinds the company is facing, we exited our position to deploy capital to more attractive opportunities.
Humana is a new holding in 2Q26 and the second-largest Medicare Advantage insurer in the US.
- ExitedSS&C TechnologiesJun 2026
Shares of automaker General Motors, electrical product manufacturer Regal Rexnord, coffee chain Starbucks and SS&C Technologies, a diversified provider of tech-enabled services and software to the financial services industry, were sold to allocate funds to more attractive opportunities.
We eliminated Starbucks as it approached our estimate of intrinsic value.
Also held
Its investment theses
- FedEx FreightJun 2026FedEx Freight is the largest LTL carrier and should improve margins through focused execution in a concentrated industry.
- Kimberly-ClarkMar 2026Kimberly-Clark is a consumer staples leader with a high-quality core business, cost synergy potential and improved growth opportunities.
- The Cooper Companies, Inc.Dec 2025The Cooper Companies is a global leader in contact lenses and women's health poised for long-term growth and modest share gains despite near-term headwinds.
- Dover CorporationDec 2025Dover Corporation is transitioning to an execution-focused operator with margin expansion potential, higher-growth exposure, and valuation upside.
- Solventum CorporationDec 2025Solventum is a medical products and health care IT company spun from 3M with potential for improved growth and margins under new management.
- EQT CorporationDec 2025EQT Corporation is a low-cost Appalachian gas producer with structural advantages and leverage to long-term US natural gas demand.
- FedExSep 2025FedEx is poised for improved profitability through cost cuts and a strategic spinoff of its LTL business, presenting an attractive long-term investment opportunity despite recent challenges.
- Capital OneMar 2025Capital One is a leading US credit card issuer poised for growth through its acquisition of Discover, despite regulatory challenges, as its strong technology platform positions it well for competitive card offerings.
- General MillsMar 2025General Mills is a strong food and pet nutrition company adapting to changing consumer behavior by reinvesting in pricing and advertising for long-term brand health.
- MetLifeMar 2025MetLife is a leading global life insurance company with strong market positions and compelling valuation, prompting us to add it to the portfolio.