Diamond Hill Long-Short Strategy Q1 2026 Portfolio Movers: Gains, Drags, And Trades

2026-05-18 23:25:00 ET

The following segment was excerpted from this fund letter.

Equity market volatility picked up in Q1 due in large part to the ongoing war in Iran. After starting the year modestly positive through February, the Russell 1000 Index ended Q1 down 4.2%. Unsurprisingly, energy (+38%) was by far the best-performing sector, with oil prices rising sharply as global supplies were impacted by the closure of the Strait of Hormuz. Materials (+10%) and utilities (+8%) also saw strong outperformance in Q1, while financials (-10%), consumer discretionary (-9%) and information technology (-9%) were the worst-performing sectors....

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