Understanding Edge

Portfolio Manager Bill Zox discusses the current opportunity set he sees in the high yield market and how recent intervention by the federal government has impacted the market.

The views expressed are those of Diamond Hill as of May 2020 and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of results, or investment advice.

The ICE BofA U.S. High Yield Index tracks the performance of the U.S. dollar denominated below investment grade corporate debt publicly issued in the U.S. domestic market. The index data referenced herein is the property of ICE Data Indices, LLC, its affiliates (“ICE Data”) and/or its third party suppliers and has been licensed for use by Diamond Hill Capital Management, Inc. ICE Data and its third party suppliers accept no liability in connection with its use. See diamond-hill.com/disclosures for a full copy of the disclaimer.

This material is for informational purposes and is prepared by Diamond Hill Capital Management. The opinions expressed are as of the date of publication and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of future results, or investment advice. Reliance upon this information is at the sole discretion of the listener. Investing involves risk including the possible loss of principal.

Banking analyst John Loesch discusses how COVID-19 has impacted bank stocks and how the current rate environment is impacting the sector.

The views expressed are those of Diamond Hill as of May 2020 and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of results, or investment advice.

As of April 30, 2020, Diamond Hill owned Sterling Bancorp (equity), First of Long Island Corp. (The) (equity), SVB Financial Group (equity), Cadence BanCorp (equity), First Republic Bank (equity) and BOK Financial Corp. (equity).

This material is for informational purposes and is prepared by Diamond Hill Capital Management. The opinions expressed are as of the date of publication and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of future results, or investment advice. Reliance upon this information is at the sole discretion of the listener. Investing involves risk including the possible loss of principal.

Consumer commodities analyst Micah Martin discusses how COVID-19 has disrupted the U.S. protein supply chain and how this could lead to protein shortages for consumers.

The views expressed are those of Diamond Hill as of April 2020 and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of results, or investment advice.

As of March 31, 2020 Diamond Hill owned McDonalds Corp. (debt) and Walmart, Inc. (equity,short). As of January 31, 2020 Diamond Hill owned Kroger Co. (The) (debt).

This material is for informational purposes and is prepared by Diamond Hill Capital Management. The opinions expressed are as of the date of publication and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of future results, or investment advice. Reliance upon this information is at the sole discretion of the listener. Investing involves risk including the possible loss of principal.

Diamond Hill energy analyst Blake Haxton discusses the recent energy price rout, the collision of supply and demand disruptions, why geology matters in oil production and the impact on long-term investors.

The views expressed are those of Diamond Hill as of April 2020 and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of results, or investment advice.

Contango is a situation in which the futures price of a commodity is higher than the spot price.

S&P 500® Energy Index measures the performance of those companies included in the S&P 500 that are classified as members of the GICS energy sector.

This material is for informational purposes and is prepared by Diamond Hill Capital Management. The opinions expressed are as of the date of publication and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of future results, or investment advice. Reliance upon this information is at the sole discretion of the listener. Investing involves risk including the possible loss of principal.

Health care analysts Chendhore Veerappan and Laura O’Dell discuss treatments health care companies are developing for COVID-19, how they’re ramping testing capacity and what the virus means for health care holdings in our portfolios.

The views expressed are those of Diamond Hill as of April 2020 and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of results, or investment advice.

As of March 31, 2020 Diamond Hill owned Abbott Laboratories (equity), GlaxoSmithKline PLC (equity), Pfizer, Inc. (equity), Gilead Sciences, Inc. (equity), Roche Holdings AG (equity) and Thermo Fisher Scientific, Inc. (equity). As of January 31, 2020 Diamond Hill owned AbbVie, Inc. (debt) and Abbott Laboratories (debt).

This material is for informational purposes and is prepared by Diamond Hill Capital Management. The opinions expressed are as of the date of publication and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of future results, or investment advice. Reliance upon this information is at the sole discretion of the listener. Investing involves risk including the possible loss of principal.

CEO Heather Brilliant, Director of IT John Kroeger and CCO Gary Young discuss our business continuity and disaster recovery plans and how they have been put into action due to COVID-19.

The views expressed are those of Diamond Hill as of March 2020 and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of results, or investment advice.

This material is for informational purposes and is prepared by Diamond Hill Capital Management. The opinions expressed are as of the date of publication and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of future results, or investment advice. Reliance upon this information is at the sole discretion of the listener. Investing involves risk including the possible loss of principal.

Portfolio Manager Chuck Bath discusses how current market volatility compares to other periods of volatility he’s seen throughout his nearly 40-year career and how he maintains a long-term approach amid market turbulence.

The views expressed are those of Diamond Hill as of March 2020 and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of results, or investment advice.

The S&P 500 Index is a market capitalization-weighted index focused on the large-cap segment of the market. The index is comprised of 500 of the top companies in leading industries in the U.S. economy.

As of February 29, 2020, Diamond Hill owned Chevron Corp. (equity). As of December 31, 2019, Diamond Hill owned Ford Motor Co. (debt).

This material is for informational purposes and is prepared by Diamond Hill Capital Management. The opinions expressed are as of the date of publication and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of future results, or investment advice. Reliance upon this information is at the sole discretion of the listener. Investing involves risk including the possible loss of principal.

Energy Analyst Blake Haxton, CFA, and Portfolio Manager John McClain, CFA, discuss how Saudi Arabia and Russia sent oil prices tumbling after Friday’s OPEC meeting and what this means for equity and high yield markets already reeling from COVID-19.

The views expressed are those of Diamond Hill as of March 2020 and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of results, or investment advice.

This material is for informational purposes and is prepared by Diamond Hill Capital Management. The opinions expressed are as of the date of publication and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of future results, or investment advice. Reliance upon this information is at the sole discretion of the listener. Investing involves risk including the possible loss of principal.

Portfolio Manager Grady Burkett, CFA, and Analyst Yiting Liu, CFA, share how the market sell-off caused by COVID-19 is impacting our International Strategy and how they’re opportunistically adding to holdings in the portfolio.

The views expressed are those of Diamond Hill as of February 2020 and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of results, or investment advice.

As of January 31, 2020 Diamond Hill owned Grupo Aeroportuario del Sureste SAB de CV - Class B (equity).

This material is for informational purposes and is prepared by Diamond Hill Capital Management. The opinions expressed are as of the date of publication and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of future results, or investment advice. Reliance upon this information is at the sole discretion of the listener. Investing involves risk including the possible loss of principal.

CIO Austin Hawley, CFA, discusses how market volatility caused by COVID-19 is impacting our equity portfolios and the benefits of short-term volatility.

The views expressed are those of Diamond Hill as of February 2020 and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of results, or investment advice.

As of January 31, 2020 Diamond Hill owned Booking Holdings, Inc. (equity) and United Airlines Holdings, Inc. (equity). As of November 30, 2019 Diamond Hill owned United Airlines Holdings, Inc. (debt).

This material is for informational purposes and is prepared by Diamond Hill Capital Management. The opinions expressed are as of the date of publication and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of future results, or investment advice. Reliance upon this information is at the sole discretion of the listener. Investing involves risk including the possible loss of principal.