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Diamond Hill Capital, an investment management company, released its “Small-Mid Cap Fund” second-quarter 2025 investor letter. A copy of the letter can be downloaded here. In Q2, the market surged uniformly for the rest of the quarter following a sharp decline in April due to President Trump’s “Liberation Day” tariffs announcement. The portfolio returned 5.60% (gross) and 5.37% (net) compared to an 8.59% return for the Russell 2500 Index. For more information on the fund’s top picks in 2025, please check its top five holdings.
In its second-quarter 2025 investor letter, Diamond Hill Small-Mid Cap Fund highlighted stocks such as River Corporation (NYSE:KNF). Knife River Corporation (NYSE:KNF) is an aggregates-based construction materials and contracting services provider based in Bismarck, North Dakota. The one-month return of Knife River Corporation (NYSE:KNF) was 11.10%, and its shares gained 19.38% of their value over the last 52 weeks. On August 15, 2025, Knife River Corporation (NYSE:KNF) stock closed at $89.99 per share, with a market capitalization of $5.099 billion.
Diamond Hill Small-Mid Cap Fund stated the following regarding Knife River Corporation (NYSE:KNF) in its second quarter 2025 investor letter:
“Despite markets’ relatively sharp bounce following April’s downward volatility, we were able to initiate several new positions in the quarter at what we consider compelling valuations: Generac Holdings, Alaska Air Group, Knife River Corporation (NYSE:KNF), Taseko Mines, Century Communities and FTI Consulting.
A worker in a safety helmet and bright orange vest surveying a construction site from a crane.
Knife River Corporation (NYSE:KNF) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 28 hedge fund portfolios held Knife River Corporation (NYSE:KNF) at the end of the first quarter, which was 27 in the previous quarter. While we acknowledge the potential of Knife River Corporation (NYSE:KNF) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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