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Diamond Hill Large Cap I DHLRX

Medalist Rating as of | See Diamond Hill Investment Hub
  • NAV / 1-Day Return 33.14  /  +0.39 %
  • Total Assets 8.3 Bil
  • Adj. Expense Ratio
    0.670%
  • Expense Ratio 0.670%
  • Distribution Fee Level Average
  • Share Class Type Institutional
  • Category Large Value
  • Investment Style Large Value
  • Min. Initial Investment 2,500
  • Status Open
  • TTM Yield 1.41%
  • Turnover 38%

USD | NAV as of Feb 23, 2024 | 1-Day Return as of Feb 23, 2024, 11:14 PM GMT+0

Morningstar’s Analysis DHLRX

Will DHLRX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Diamond Hill Large Cap Manager Chuck Bath to Retire, but the Fund Is Prepared

null Dan Culloton

Dan Culloton

Analyst Note

The pending December 2024 retirement of longtime Diamond Hill Large Cap manager Chuck Bath does not affect the strategy’s pillar and overall Morningstar Medalist Ratings. Diamond Hill announced this week that Bath, who has been a listed manager on this fund since September 2002, will become an assistant manager on Feb. 28, 2024, and retire Dec. 31. Austin Hawley, a listed team member here since February 2015 and a formal comanager with Bath since 2017, remains. In recent years the firm also has assigned a member of its central analyst bench, Varun Gupta, to work with Bath and Hawley as a dedicated analyst; an arrangement that will continue. The firm has no formal plans yet to name a comanager or assistant manager to replace Bath when he formally retires, though it is possible Gupta or other management team candidates could emerge from inside or outside the firm. Bath, who also will step down in December 2024 from the Diamond Hill Large Cap Concentrated fund he has run with Hawley since February 2021, expects to contribute to the fund’s management until his retirement, but Hawley will be the lead decision-maker on buys, sells, and position sizes after Feb. 28. Bath and Hawley said the firm had this transition in mind when Hawley joined the strategy’s team as an assistant manager in 2015. At that time Bath indicated that the earliest he would retire was 2022. In that year, though, he decided to reconsider retirement in 2024, when he will be approaching 70. More than a year’s notice is plenty of time to complete the transition.

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Portfolio Holdings DHLRX

  • Current Portfolio Date
  • Equity Holdings
  • Bond Holdings
  • Other Holdings
  • % Assets in Top 10 Holdings 30.5
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

American International Group Inc

4.51 376.3 Mil
Financial Services

ConocoPhillips

3.47 289.1 Mil
Energy

Bank of America Corp

3.23 269.7 Mil
Financial Services

Abbott Laboratories

3.22 268.4 Mil
Healthcare

Allstate Corp

2.99 249.5 Mil
Financial Services

State Street Instl US Govt MMkt Premier

2.97 247.7 Mil
Cash and Equivalents

HCA Healthcare Inc

2.72 227.2 Mil
Healthcare

Caterpillar Inc

2.66 222.1 Mil
Industrials

PepsiCo Inc

2.66 221.8 Mil
Consumer Defensive

CarMax Inc

2.51 209.3 Mil
Consumer Cyclical