Diamond Hill Capital, an investment management company, released its “Large Cap Fund” fourth-quarter 2025 investor letter. A copy of the letter can be downloaded here. Equity markets continued their upward momentum in Q4, with the Russell 1000 Value Index increasing 3.8%. The information technology (+11%) and communication services (+9%) sectors are leading the rally, driven by AI optimism. The growth areas of the market accounted for the majority of the Index’s return in Q4. The firm maintains a cautious stance toward AI-driven market enthusiasm and believes that, fundamentally stable, high-quality, cash-generative businesses present attractive opportunities. Against this backdrop, the Fund returned 1.41% in the quarter, lagging the Russell 1000 Value Index’s 3.8% return. In addition, you can check the Fund’s top five holdings to see its best picks for 2025.
In its fourth-quarter 2025 investor letter, Diamond Hill Large Cap Fund highlighted EQT Corporation (NYSE:EQT) as a new addition. EQT Corporation (NYSE:EQT) is a leading natural gas producer headquartered in Pittsburgh, Pennsylvania. On February 2, 2026, EQT Corporation (NYSE:EQT) stock closed at $54.75 per share. EQT Corporation (NYSE:EQT) delivered a 2.51% return in the past month, and its shares are up 4.99% over the past twelve months. EQT Corporation (NYSE:EQT) has a market capitalization of $34.168 billion.
Diamond Hill Large Cap Fund stated the following regarding EQT Corporation (NYSE:EQT) in its fourth quarter 2025 investor letter:
“EQT Corporation (NYSE:EQT) is the lowest-cost dry gas producer in Appalachia, with multi-decade inventory that positions it as a key supplier of US natural gas. The company enjoys numerous structural advantages — scale, contiguous acreage, and increasing control over gathering and transportation following a recent acquisition — that should persist across a wide range of gas price environments. We remain constructive on long-term US natural gas demand, and EQT remains one of the cleanest, lowest-cost dry gas operators in the space.”
EQT Corp. (EQT) Falls Alongside NatGas Prices
EQT Corporation (NYSE:EQT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 82 hedge fund portfolios held EQT Corporation (NYSE:EQT) at the end of the third quarter, compared to 96 in the previous quarter. While we acknowledge the potential of EQT Corporation (NYSE:EQT) 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.
