Kohlberg Kravis Roberts & Co. L.P. (KKR) Benefited from Improved Market Sentiment
Diamond Hill Capital, an investment management company, released its “Select Strategy” third-quarter 2023 investor letter. A copy of the same can be downloaded here. In Q3, the portfolio fell behind the Russell 3000 Index. Relative weakness was concentrated among staples holdings, and discretionary holdings also trailed benchmark peers, impacting the relative performance. On the other hand, the financial sector holdings and overweight to the sector contributed to a slight tailwind in Q3. The strategy returned -5.99% net of fees in Q3 compared to the Russell 3000 Index’s -3.25% return. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Diamond Hill Select Strategy highlighted stocks like KKohlberg Kravis Roberts & Co. L.P. (NYSE:KKR) in the third quarter 2023 investor letter. Headquartered in New York, New York, Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR) is an equity and real estate investment firm. On November 28, 2023, Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR) stock closed at $69.38 per share. One-month return of Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR) was 21.83%, and its shares gained 33.63% of their value over the last 52 weeks. Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR) has a market capitalization of $79.523 billion.
Diamond Hill Select Strategy made the following comment about Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR) in its Q3 2023 investor letter:
"Other top contributors included Cimpress, Mr. Cooper Group and Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR). Alternative asset manager KKR performed well as its most recent fiscal earnings were largely in line with expectations, though we believe its Q3 share-price gains were largely driven by improved market sentiment."
A young professional in a suit examining tables of data and charts on a laptop, representing the company's sophisticated asset management services.
Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 69 hedge fund portfolios held Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR) at the end of third quarter which was 62 in the previous quarter.
We discussed Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR) in another article and shared Alphyn Capital Management's views on the company. In addition, please check out our hedge fund investor letters Q3 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.
