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Diamond Hill Capital, an investment management company, released its “Large Cap Strategy” first-quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the strategy underperformed and returned -0.75% (net) compared to a 7.46% return for the Russell 1000 Index. In addition, you can check the top 5 holdings of the strategy to know its best picks in 2023.
Diamond Hill Large Cap Strategy highlighted stocks like Amazon.com, Inc. (NASDAQ:AMZN) in the first quarter 2023 investor letter. Headquartered in Seattle, Washington, Amazon.com, Inc. (NASDAQ:AMZN) provides consumer products and subscriptions. On May 11, 2023, Amazon.com, Inc. (NASDAQ:AMZN) stock closed at $112.18 per share. One-month return of Amazon.com, Inc. (NASDAQ:AMZN) was 9.43%, and its shares lost 0.77% of their value over the last 52 weeks. Amazon.com, Inc. (NASDAQ:AMZN) has a market capitalization of $1.151 trillion.
Diamond Hill Large Cap Strategy made the following comment about Amazon.com, Inc. (NASDAQ:AMZN) in its Q1 2023 investor letter:
"We did have several strong performing stocks this quarter. Our top contributors to return included NVR, Amazon.com, Inc. (NASDAQ:AMZN), Alphabet, Microsoft and Booking Holdings, all of which posted double-digit gains.
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Amazon.com, Inc. (NASDAQ:AMZN) is in 2nd position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 240 hedge fund portfolios held Amazon.com, Inc. (NASDAQ:AMZN) at the end of the fourth quarter which was 269 in the previous quarter.
We discussed Amazon.com, Inc. (NASDAQ:AMZN) in another article and shared the list of best information technology services stocks to buy. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.