Here’s Why NVR (NVR) Rose in Q2
Diamond Hill Capital, an investment management company, released its “Mid Cap Strategy” second-quarter 2023 investor letter. A copy of the same can be downloaded here. The portfolio delivered positive results in the second quarter while modestly trailing the Russell Midcap Index. The healthcare holdings positively contributed to the relative performance while the information technology and materials holdings trailed benchmark peers. The fund returned 6.76% (net) in Q2 compared to 9.10% for the benchmark. In addition, you can check the top 5 holdings of the strategy to know its best picks in 2023.
Diamond Hill Capital Mid Cap Strategy highlighted stocks like NVR, Inc. (NYSE:NVR) in the second quarter 2023 investor letter. Headquartered in Reston, Virginia, NVR, Inc. (NYSE:NVR) is a home builder. On September 7, 2023, NVR, Inc. (NYSE:NVR) stock closed at $6,405.81 per share. One-month return of NVR, Inc. (NYSE:NVR) was 4.68%, and its shares gained 52.82% of their value over the last 52 weeks. NVR, Inc. (NYSE:NVR) has a market capitalization of $20.911 billion.
Diamond Hill Capital Mid Cap Strategy made the following comment about NVR, Inc. (NYSE:NVR) in its Q2 2023 investor letter:
"Other top contributors included Parker-Hannifin Corporation, Allegiant Travel, NVR, Inc. (NYSE:NVR). Leisure-focused low-cost airline Allegiant Travel has a unique business model, contributing to among the highest margins versus competitors. As travel demand has normalized against a post-pandemic backdrop, Allegiant has benefited from strong pricing."
NVR, Inc. (NYSE:NVR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 41 hedge fund portfolios held NVR, Inc. (NYSE:NVR) at the end of second quarter which was 39 in the previous quarter.
We discussed NVR, Inc. (NYSE:NVR) in another article and shared the list of best residential real estate stocks to buy. In addition, please check out our hedge fund investor letters Q2 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.
