| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Investor | $72 | 1.28%1 |
The Fund (Ticker: DHSCX) returned 27.99% for the 6-month period ended June 30, 2026. Over that same period, the Russell 2000 Index returned 22.57%. Security selection is the primary driver of the Fund's performance during any given period — the top and bottom contributors to return are illustrated in the chart.
| Six Months | One Year | Five Years | Ten Years | |
|---|---|---|---|---|
| Investor | 27.99% | 44.64% | 13.06% | 10.91% |
| Russell 3000 Index | 10.88 | 22.82 | 12.31 | 15.06 |
| Russell 2000 Index | 22.57 | 40.78 | 6.98 | 11.62 |
| Net Assets | $307,675,717 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 7% |
| Total Advisory Fees Paid | $1,027,131 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Astrana Health, Inc. | |
| Triumph Financial, Inc. | |
| Ducommun, Inc. | |
| Red Rock Resorts, Inc., Class A | |
| Ryman Hospitality Properties, Inc. | |
| UFP Technologies, Inc. | |
| Bank OZK | |
| Mesa Laboratories, Inc. | |
| Utz Brands, Inc. | |
| Magnolia Oil & Gas Corp., Class A |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Astrana Health, Inc. | |
| Triumph Financial, Inc. | |
| Ducommun, Inc. | |
| Red Rock Resorts, Inc., Class A | |
| Ryman Hospitality Properties, Inc. | |
| UFP Technologies, Inc. | |
| Bank OZK | |
| Mesa Laboratories, Inc. | |
| Utz Brands, Inc. | |
| Magnolia Oil & Gas Corp., Class A |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Class I | $56 | 0.99%1 |
The Fund (Ticker: DHSIX) returned 28.19% for the 6-month period ended June 30, 2026. Over that same period, the Russell 2000 Index returned 22.57%. Security selection is the primary driver of the Fund's performance during any given period — the top and bottom contributors to return are illustrated in the chart.
| Six Months | One Year | Five Years | Ten Years | |
|---|---|---|---|---|
| Class I | 28.19% | 45.06% | 13.38% | 11.23% |
| Russell 3000 Index | 10.88 | 22.82 | 12.31 | 15.06 |
| Russell 2000 Index | 22.57 | 40.78 | 6.98 | 11.62 |
| Net Assets | $307,675,717 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 7% |
| Total Advisory Fees Paid | $1,027,131 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Astrana Health, Inc. | |
| Triumph Financial, Inc. | |
| Ducommun, Inc. | |
| Red Rock Resorts, Inc., Class A | |
| Ryman Hospitality Properties, Inc. | |
| UFP Technologies, Inc. | |
| Bank OZK | |
| Mesa Laboratories, Inc. | |
| Utz Brands, Inc. | |
| Magnolia Oil & Gas Corp., Class A |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Astrana Health, Inc. | |
| Triumph Financial, Inc. | |
| Ducommun, Inc. | |
| Red Rock Resorts, Inc., Class A | |
| Ryman Hospitality Properties, Inc. | |
| UFP Technologies, Inc. | |
| Bank OZK | |
| Mesa Laboratories, Inc. | |
| Utz Brands, Inc. | |
| Magnolia Oil & Gas Corp., Class A |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Class Y | $49 | 0.86%1 |
The Fund (Ticker: DHSYX) returned 28.28% for the 6-month period ended June 30, 2026. Over that same period, the Russell 2000 Index returned 22.57%. Security selection is the primary driver of the Fund's performance during any given period — the top and bottom contributors to return are illustrated in the chart.
| Six Months | One Year | Five Years | Ten Years | |
|---|---|---|---|---|
| Class Y | 28.28% | 45.26% | 13.53% | 11.36% |
| Russell 3000 Index | 10.88 | 22.82 | 12.31 | 15.06 |
| Russell 2000 Index | 22.57 | 40.78 | 6.98 | 11.62 |
| Net Assets | $307,675,717 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 7% |
| Total Advisory Fees Paid | $1,027,131 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Astrana Health, Inc. | |
| Triumph Financial, Inc. | |
| Ducommun, Inc. | |
| Red Rock Resorts, Inc., Class A | |
| Ryman Hospitality Properties, Inc. | |
| UFP Technologies, Inc. | |
| Bank OZK | |
| Mesa Laboratories, Inc. | |
| Utz Brands, Inc. | |
| Magnolia Oil & Gas Corp., Class A |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Astrana Health, Inc. | |
| Triumph Financial, Inc. | |
| Ducommun, Inc. | |
| Red Rock Resorts, Inc., Class A | |
| Ryman Hospitality Properties, Inc. | |
| UFP Technologies, Inc. | |
| Bank OZK | |
| Mesa Laboratories, Inc. | |
| Utz Brands, Inc. | |
| Magnolia Oil & Gas Corp., Class A |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Investor | $65 | 1.27%1 |
The Fund (Ticker: DHMAX) returned 6.66% for the 6-month period ended June 30, 2026. Over that same period, the Russell 2500 Index returned 22.71%. Security selection is the primary driver of the Fund's performance during any given period — the top and bottom contributors to return are illustrated in the chart.
| Six Months | One Year | Five Years | Ten Years | |
|---|---|---|---|---|
| Investor | 6.66% | 14.46% | 5.22% | 7.82% |
| Russell 3000 Index | 10.88 | 22.82 | 12.31 | 15.06 |
| Russell 2500 Index | 22.71 | 36.72 | 8.30 | 12.25 |
| Net Assets | $629,616,873 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 33% |
| Total Advisory Fees Paid | $2,920,738 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Humana, Inc. | |
| Regal Rexnord Corp. | |
| Antero Resources Corp. | |
| CubeSmart | |
| Red Rock Resorts, Inc., Class A | |
| Post Holdings, Inc. | |
| Huntington Ingalls Industries, Inc. | |
| Fortune Brands Innovations, Inc. | |
| Illumina, Inc. | |
| TransUnion |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Humana, Inc. | |
| Regal Rexnord Corp. | |
| Antero Resources Corp. | |
| CubeSmart | |
| Red Rock Resorts, Inc., Class A | |
| Post Holdings, Inc. | |
| Huntington Ingalls Industries, Inc. | |
| Fortune Brands Innovations, Inc. | |
| Illumina, Inc. | |
| TransUnion |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Class I | $50 | 0.98%1 |
The Fund (Ticker: DHMIX) returned 6.83% for the 6-month period ended June 30, 2026. Over that same period, the Russell 2500 Index returned 22.71%. Security selection is the primary driver of the Fund's performance during any given period — the top and bottom contributors to return are illustrated in the chart.
| Six Months | One Year | Five Years | Ten Years | |
|---|---|---|---|---|
| Class I | 6.83% | 14.79% | 5.52% | 8.14% |
| Russell 3000 Index | 10.88 | 22.82 | 12.31 | 15.06 |
| Russell 2500 Index | 22.71 | 36.72 | 8.30 | 12.25 |
| Net Assets | $629,616,873 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 33% |
| Total Advisory Fees Paid | $2,920,738 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Humana, Inc. | |
| Regal Rexnord Corp. | |
| Antero Resources Corp. | |
| CubeSmart | |
| Red Rock Resorts, Inc., Class A | |
| Post Holdings, Inc. | |
| Huntington Ingalls Industries, Inc. | |
| Fortune Brands Innovations, Inc. | |
| Illumina, Inc. | |
| TransUnion |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Humana, Inc. | |
| Regal Rexnord Corp. | |
| Antero Resources Corp. | |
| CubeSmart | |
| Red Rock Resorts, Inc., Class A | |
| Post Holdings, Inc. | |
| Huntington Ingalls Industries, Inc. | |
| Fortune Brands Innovations, Inc. | |
| Illumina, Inc. | |
| TransUnion |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Class Y | $44 | 0.85%1 |
The Fund (Ticker: DHMYX) returned 6.91% for the 6-month period ended June 30, 2026. Over that same period, the Russell 2500 Index returned 22.71%. Security selection is the primary driver of the Fund's performance during any given period — the top and bottom contributors to return are illustrated in the chart.
| Six Months | One Year | Five Years | Ten Years | |
|---|---|---|---|---|
| Class Y | 6.91% | 14.94% | 5.66% | 8.27% |
| Russell 3000 Index | 10.88 | 22.82 | 12.31 | 15.06 |
| Russell 2500 Index | 22.71 | 36.72 | 8.30 | 12.25 |
| Net Assets | $629,616,873 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 33% |
| Total Advisory Fees Paid | $2,920,738 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Humana, Inc. | |
| Regal Rexnord Corp. | |
| Antero Resources Corp. | |
| CubeSmart | |
| Red Rock Resorts, Inc., Class A | |
| Post Holdings, Inc. | |
| Huntington Ingalls Industries, Inc. | |
| Fortune Brands Innovations, Inc. | |
| Illumina, Inc. | |
| TransUnion |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Humana, Inc. | |
| Regal Rexnord Corp. | |
| Antero Resources Corp. | |
| CubeSmart | |
| Red Rock Resorts, Inc., Class A | |
| Post Holdings, Inc. | |
| Huntington Ingalls Industries, Inc. | |
| Fortune Brands Innovations, Inc. | |
| Illumina, Inc. | |
| TransUnion |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Investor | $56 | 1.10%1 |
The Fund (Ticker: DHPAX) returned 4.94% for the 6-month period ended June 30, 2026. Over that same period, the Russell Midcap Index returned 15.30%. Security selection is the primary driver of the Fund's performance during any given period — the top and bottom contributors to return are illustrated in the chart.
| Six Months | One Year | Five Years | Ten Years | |
|---|---|---|---|---|
| Investor | 4.94% | 13.19% | 6.12% | 8.19% |
| Russell 3000 Index | 10.88 | 22.82 | 12.31 | 15.06 |
| Russell Midcap Index | 15.30 | 21.63 | 8.50 | 12.00 |
| Net Assets | $73,562,448 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 18% |
| Total Advisory Fees Paid | $224,043 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Humana, Inc. | |
| American International Group, Inc. | |
| Antero Resources Corp. | |
| Regal Rexnord Corp. | |
| Red Rock Resorts, Inc., Class A | |
| CubeSmart | |
| Diamondback Energy, Inc. | |
| Rocket Companies, Inc., Class A | |
| Fortune Brands Innovations, Inc. | |
| Huntington Ingalls Industries, Inc. |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Humana, Inc. | |
| American International Group, Inc. | |
| Antero Resources Corp. | |
| Regal Rexnord Corp. | |
| Red Rock Resorts, Inc., Class A | |
| CubeSmart | |
| Diamondback Energy, Inc. | |
| Rocket Companies, Inc., Class A | |
| Fortune Brands Innovations, Inc. | |
| Huntington Ingalls Industries, Inc. |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Class I | $41 | 0.81%1 |
The Fund (Ticker: DHPIX) returned 5.14% for the 6-month period ended June 30, 2026. Over that same period, the Russell Midcap Index returned 15.30%. Security selection is the primary driver of the Fund's performance during any given period — the top and bottom contributors to return are illustrated in the chart.
| Six Months | One Year | Five Years | Ten Years | |
|---|---|---|---|---|
| Class I | 5.14% | 13.54% | 6.43% | 8.52% |
| Russell 3000 Index | 10.88 | 22.82 | 12.31 | 15.06 |
| Russell Midcap Index | 15.30 | 21.63 | 8.50 | 12.00 |
| Net Assets | $73,562,448 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 18% |
| Total Advisory Fees Paid | $224,043 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Humana, Inc. | |
| American International Group, Inc. | |
| Antero Resources Corp. | |
| Regal Rexnord Corp. | |
| Red Rock Resorts, Inc., Class A | |
| CubeSmart | |
| Diamondback Energy, Inc. | |
| Rocket Companies, Inc., Class A | |
| Fortune Brands Innovations, Inc. | |
| Huntington Ingalls Industries, Inc. |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Humana, Inc. | |
| American International Group, Inc. | |
| Antero Resources Corp. | |
| Regal Rexnord Corp. | |
| Red Rock Resorts, Inc., Class A | |
| CubeSmart | |
| Diamondback Energy, Inc. | |
| Rocket Companies, Inc., Class A | |
| Fortune Brands Innovations, Inc. | |
| Huntington Ingalls Industries, Inc. |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Class Y | $35 | 0.68%1 |
The Fund (Ticker: DHPYX) returned 5.18% for the 6-month period ended June 30, 2026. Over that same period, the Russell Midcap Index returned 15.30%. Security selection is the primary driver of the Fund's performance during any given period — the top and bottom contributors to return are illustrated in the chart.
| Six Months | One Year | Five Years | Ten Years | |
|---|---|---|---|---|
| Class Y | 5.18% | 13.66% | 6.57% | 8.64% |
| Russell 3000 Index | 10.88 | 22.82 | 12.31 | 15.06 |
| Russell Midcap Index | 15.30 | 21.63 | 8.50 | 12.00 |
| Net Assets | $73,562,448 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 18% |
| Total Advisory Fees Paid | $224,043 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Humana, Inc. | |
| American International Group, Inc. | |
| Antero Resources Corp. | |
| Regal Rexnord Corp. | |
| Red Rock Resorts, Inc., Class A | |
| CubeSmart | |
| Diamondback Energy, Inc. | |
| Rocket Companies, Inc., Class A | |
| Fortune Brands Innovations, Inc. | |
| Huntington Ingalls Industries, Inc. |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Humana, Inc. | |
| American International Group, Inc. | |
| Antero Resources Corp. | |
| Regal Rexnord Corp. | |
| Red Rock Resorts, Inc., Class A | |
| CubeSmart | |
| Diamondback Energy, Inc. | |
| Rocket Companies, Inc., Class A | |
| Fortune Brands Innovations, Inc. | |
| Huntington Ingalls Industries, Inc. |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Investor | $51 | 1.02%1 |
The Fund (Ticker: DHLAX) returned 0.72% for the 6-month period ended June 30, 2026. Over that same period, the Russell 1000 Value Index returned 16.26%. Security selection is the primary driver of the Fund's performance during any given period — the top and bottom contributors to return are illustrated in the chart.
| Six Months | One Year | Five Years | Ten Years | |
|---|---|---|---|---|
| Investor | 0.72% | 1.91% | 4.80% | 9.69% |
| Russell 3000 Index | 10.88 | 22.82 | 12.31 | 15.06 |
| Russell 1000 Value Index | 16.26 | 27.12 | 11.17 | 11.52 |
| Russell 1000 Index | 10.33 | 22.02 | 12.66 | 15.30 |
| Net Assets | $2,881,080,015 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 16% |
| Total Advisory Fees Paid | $10,540,170 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Colgate-Palmolive Co. | |
| Berkshire Hathaway, Inc., Class B | |
| Abbott Laboratories | |
| Aon plc, Class A | |
| American International Group, Inc. | |
| Waste Management, Inc. | |
| ConocoPhillips | |
| Capital One Financial Corp. | |
| Microsoft Corp. | |
| Walt Disney Co. (The) |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Colgate-Palmolive Co. | |
| Berkshire Hathaway, Inc., Class B | |
| Abbott Laboratories | |
| Aon plc, Class A | |
| American International Group, Inc. | |
| Waste Management, Inc. | |
| ConocoPhillips | |
| Capital One Financial Corp. | |
| Microsoft Corp. | |
| Walt Disney Co. (The) |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Class I | $36 | 0.73%1 |
The Fund (Ticker: DHLRX) returned 0.84% for the 6-month period ended June 30, 2026. Over that same period, the Russell 1000 Value Index returned 16.26%. Security selection is the primary driver of the Fund's performance during any given period — the top and bottom contributors to return are illustrated in the chart.
| Six Months | One Year | Five Years | Ten Years | |
|---|---|---|---|---|
| Class I | 0.84% | 2.17% | 5.10% | 10.01% |
| Russell 3000 Index | 10.88 | 22.82 | 12.31 | 15.06 |
| Russell 1000 Value Index | 16.26 | 27.12 | 11.17 | 11.52 |
| Russell 1000 Index | 10.33 | 22.02 | 12.66 | 15.30 |
| Net Assets | $2,881,080,015 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 16% |
| Total Advisory Fees Paid | $10,540,170 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Colgate-Palmolive Co. | |
| Berkshire Hathaway, Inc., Class B | |
| Abbott Laboratories | |
| Aon plc, Class A | |
| American International Group, Inc. | |
| Waste Management, Inc. | |
| ConocoPhillips | |
| Capital One Financial Corp. | |
| Microsoft Corp. | |
| Walt Disney Co. (The) |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Colgate-Palmolive Co. | |
| Berkshire Hathaway, Inc., Class B | |
| Abbott Laboratories | |
| Aon plc, Class A | |
| American International Group, Inc. | |
| Waste Management, Inc. | |
| ConocoPhillips | |
| Capital One Financial Corp. | |
| Microsoft Corp. | |
| Walt Disney Co. (The) |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Class Y | $30 | 0.60%1 |
The Fund (Ticker: DHLYX) returned 0.93% for the 6-month period ended June 30, 2026. Over that same period, the Russell 1000 Value Index returned 16.26%. Security selection is the primary driver of the Fund's performance during any given period — the top and bottom contributors to return are illustrated in the chart.
| Six Months | One Year | Five Years | Ten Years | |
|---|---|---|---|---|
| Class Y | 0.93% | 2.30% | 5.23% | 10.13% |
| Russell 3000 Index | 10.88 | 22.82 | 12.31 | 15.06 |
| Russell 1000 Value Index | 16.26 | 27.12 | 11.17 | 11.52 |
| Russell 1000 Index | 10.33 | 22.02 | 12.66 | 15.30 |
| Net Assets | $2,881,080,015 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 16% |
| Total Advisory Fees Paid | $10,540,170 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Colgate-Palmolive Co. | |
| Berkshire Hathaway, Inc., Class B | |
| Abbott Laboratories | |
| Aon plc, Class A | |
| American International Group, Inc. | |
| Waste Management, Inc. | |
| ConocoPhillips | |
| Capital One Financial Corp. | |
| Microsoft Corp. | |
| Walt Disney Co. (The) |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Colgate-Palmolive Co. | |
| Berkshire Hathaway, Inc., Class B | |
| Abbott Laboratories | |
| Aon plc, Class A | |
| American International Group, Inc. | |
| Waste Management, Inc. | |
| ConocoPhillips | |
| Capital One Financial Corp. | |
| Microsoft Corp. | |
| Walt Disney Co. (The) |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Investor | $61 | 1.20%1 |
The Fund (Ticker: DHTAX) returned 4.36% for the 6-month period ended June 30, 2026. Over that same period, the Russell 3000 Index returned 10.88%. Security selection is the primary driver of the Fund's performance during any given period — the top and bottom contributors to return are illustrated in the chart.
| Six Months | One Year | Five Years | Ten Years | |
|---|---|---|---|---|
| Investor | 4.36% | 14.18% | 9.27% | 13.37% |
| Russell 3000 Index | 10.88 | 22.82 | 12.31 | 15.06 |
| Net Assets | $543,603,090 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 24% |
| Total Advisory Fees Paid | $1,990,120 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Cimpress plc | |
| Berkshire Hathaway, Inc., Class B | |
| Abbott Laboratories | |
| American International Group, Inc. | |
| Red Rock Resorts, Inc., Class A | |
| Salesforce, Inc. | |
| Capital One Financial Corp. | |
| Ashland, Inc. | |
| Colgate-Palmolive Co. | |
| Adobe, Inc. |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Cimpress plc | |
| Berkshire Hathaway, Inc., Class B | |
| Abbott Laboratories | |
| American International Group, Inc. | |
| Red Rock Resorts, Inc., Class A | |
| Salesforce, Inc. | |
| Capital One Financial Corp. | |
| Ashland, Inc. | |
| Colgate-Palmolive Co. | |
| Adobe, Inc. |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Class I | $46 | 0.91%1 |
The Fund (Ticker: DHLTX) returned 4.52% for the 6-month period ended June 30, 2026. Over that same period, the Russell 3000 Index returned 10.88%. Security selection is the primary driver of the Fund's performance during any given period — the top and bottom contributors to return are illustrated in the chart.
| Six Months | One Year | Five Years | Ten Years | |
|---|---|---|---|---|
| Class I | 4.52% | 14.54% | 9.59% | 13.70% |
| Russell 3000 Index | 10.88 | 22.82 | 12.31 | 15.06 |
| Net Assets | $543,603,090 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 24% |
| Total Advisory Fees Paid | $1,990,120 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Cimpress plc | |
| Berkshire Hathaway, Inc., Class B | |
| Abbott Laboratories | |
| American International Group, Inc. | |
| Red Rock Resorts, Inc., Class A | |
| Salesforce, Inc. | |
| Capital One Financial Corp. | |
| Ashland, Inc. | |
| Colgate-Palmolive Co. | |
| Adobe, Inc. |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Cimpress plc | |
| Berkshire Hathaway, Inc., Class B | |
| Abbott Laboratories | |
| American International Group, Inc. | |
| Red Rock Resorts, Inc., Class A | |
| Salesforce, Inc. | |
| Capital One Financial Corp. | |
| Ashland, Inc. | |
| Colgate-Palmolive Co. | |
| Adobe, Inc. |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Class Y | $40 | 0.78%1 |
The Fund (Ticker: DHTYX) returned 4.45% for the 6-month period ended June 30, 2026. Over that same period, the Russell 3000 Index returned 10.88%. Security selection is the primary driver of the Fund's performance during any given period — the top and bottom contributors to return are illustrated in the chart.
| Six Months | One Year | Five Years | Ten Years | |
|---|---|---|---|---|
| Class Y | 4.45% | 14.49% | 9.69% | 13.82% |
| Russell 3000 Index | 10.88 | 22.82 | 12.31 | 15.06 |
| Net Assets | $543,603,090 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 24% |
| Total Advisory Fees Paid | $1,990,120 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Cimpress plc | |
| Berkshire Hathaway, Inc., Class B | |
| Abbott Laboratories | |
| American International Group, Inc. | |
| Red Rock Resorts, Inc., Class A | |
| Salesforce, Inc. | |
| Capital One Financial Corp. | |
| Ashland, Inc. | |
| Colgate-Palmolive Co. | |
| Adobe, Inc. |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Cimpress plc | |
| Berkshire Hathaway, Inc., Class B | |
| Abbott Laboratories | |
| American International Group, Inc. | |
| Red Rock Resorts, Inc., Class A | |
| Salesforce, Inc. | |
| Capital One Financial Corp. | |
| Ashland, Inc. | |
| Colgate-Palmolive Co. | |
| Adobe, Inc. |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Investor | $90 | 1.88%1 |
The Fund (Ticker: DIAMX) returned -7.16% for the 6-month period ended June 30, 2026. Over that same period, the Russell 1000 Index returned 10.33% and the 60%/40% Blended Index returned 7.02%. Security selection is the primary driver of the Fund's performance during any given period — the top and bottom contributors to return are illustrated in the chart.
| Six Months | One Year | Five Years | Ten Years | |
|---|---|---|---|---|
| Investor | -7.16% | 1.46% | 5.46% | 7.03% |
| Russell 3000 Index | 10.88 | 22.82 | 12.31 | 15.06 |
| Russell 1000 Index | 10.33 | 22.02 | 12.66 | 15.30 |
| 60% Russell 1000/40% Bloomberg US T-Bills 1-3 Month Index | 7.02 | 14.67 | 9.28 | 10.27 |
| Net Assets | $2,110,953,007 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 24% |
| Total Advisory Fees Paid | $10,009,260 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Long: | |
| Taiwan Semiconductor Manufacturing Co. Ltd. - ADR | |
| Microsoft Corp. | |
| Alphabet, Inc., Class A | |
| Meta Platforms, Inc., Class A | |
| American International Group, Inc. | |
| Abbott Laboratories | |
| Aon plc, Class A | |
| SentinelOne, Inc., Class A | |
| Amazon.com, Inc. | |
| Citigroup, Inc. | |
| Short: | |
| NewMarket Corp. | |
| Federal Signal Corp. | |
| Medpace Holdings, Inc. | |
| Acushnet Holdings Corp. | |
| Bank of Hawaii Corp. | |
| Blue Bird Corp. | |
| eBay, Inc. | |
| International Business Machines Corp. | |
| Matson, Inc. | |
| Williams-Sonoma, Inc. |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Long: | |
| Taiwan Semiconductor Manufacturing Co. Ltd. - ADR | |
| Microsoft Corp. | |
| Alphabet, Inc., Class A | |
| Meta Platforms, Inc., Class A | |
| American International Group, Inc. | |
| Abbott Laboratories | |
| Aon plc, Class A | |
| SentinelOne, Inc., Class A | |
| Amazon.com, Inc. | |
| Citigroup, Inc. | |
| Short: | |
| NewMarket Corp. | |
| Federal Signal Corp. | |
| Medpace Holdings, Inc. | |
| Acushnet Holdings Corp. | |
| Bank of Hawaii Corp. | |
| Blue Bird Corp. | |
| eBay, Inc. | |
| International Business Machines Corp. | |
| Matson, Inc. | |
| Williams-Sonoma, Inc. |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Class I | $76 | 1.59%1 |
The Fund (Ticker: DHLSX) returned -7.04% for the 6-month period ended June 30, 2026. Over that same period, the Russell 1000 Index returned 10.33% and the 60%/40% Blended Index returned 7.02%. Security selection is the primary driver of the Fund's performance during any given period — the top and bottom contributors to return are illustrated in the chart.
| Six Months | One Year | Five Years | Ten Years | |
|---|---|---|---|---|
| Class I | -7.04% | 1.72% | 5.77% | 7.34% |
| Russell 3000 Index | 10.88 | 22.82 | 12.31 | 15.06 |
| Russell 1000 Index | 10.33 | 22.02 | 12.66 | 15.30 |
| 60% Russell 1000/40% Bloomberg US T-Bills 1-3 Month Index | 7.02 | 14.67 | 9.28 | 10.27 |
| Net Assets | $2,110,953,007 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 24% |
| Total Advisory Fees Paid | $10,009,260 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Long: | |
| Taiwan Semiconductor Manufacturing Co. Ltd. - ADR | |
| Microsoft Corp. | |
| Alphabet, Inc., Class A | |
| Meta Platforms, Inc., Class A | |
| American International Group, Inc. | |
| Abbott Laboratories | |
| Aon plc, Class A | |
| SentinelOne, Inc., Class A | |
| Amazon.com, Inc. | |
| Citigroup, Inc. | |
| Short: | |
| NewMarket Corp. | |
| Federal Signal Corp. | |
| Medpace Holdings, Inc. | |
| Acushnet Holdings Corp. | |
| Bank of Hawaii Corp. | |
| Blue Bird Corp. | |
| eBay, Inc. | |
| International Business Machines Corp. | |
| Matson, Inc. | |
| Williams-Sonoma, Inc. |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Long: | |
| Taiwan Semiconductor Manufacturing Co. Ltd. - ADR | |
| Microsoft Corp. | |
| Alphabet, Inc., Class A | |
| Meta Platforms, Inc., Class A | |
| American International Group, Inc. | |
| Abbott Laboratories | |
| Aon plc, Class A | |
| SentinelOne, Inc., Class A | |
| Amazon.com, Inc. | |
| Citigroup, Inc. | |
| Short: | |
| NewMarket Corp. | |
| Federal Signal Corp. | |
| Medpace Holdings, Inc. | |
| Acushnet Holdings Corp. | |
| Bank of Hawaii Corp. | |
| Blue Bird Corp. | |
| eBay, Inc. | |
| International Business Machines Corp. | |
| Matson, Inc. | |
| Williams-Sonoma, Inc. |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Class Y | $70 | 1.46%1 |
The Fund (Ticker: DIAYX) returned -6.99% for the 6-month period ended June 30, 2026. Over that same period, the Russell 1000 Index returned 10.33% and the 60%/40% Blended Index returned 7.02%. Security selection is the primary driver of the Fund's performance during any given period — the top and bottom contributors to return are illustrated in the chart.
| Six Months | One Year | Five Years | Ten Years | |
|---|---|---|---|---|
| Class Y | -6.99% | 1.84% | 5.88% | 7.46% |
| Russell 3000 Index | 10.88 | 22.82 | 12.31 | 15.06 |
| Russell 1000 Index | 10.33 | 22.02 | 12.66 | 15.30 |
| 60% Russell 1000/40% Bloomberg US T-Bills 1-3 Month Index | 7.02 | 14.67 | 9.28 | 10.27 |
| Net Assets | $2,110,953,007 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 24% |
| Total Advisory Fees Paid | $10,009,260 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Long: | |
| Taiwan Semiconductor Manufacturing Co. Ltd. - ADR | |
| Microsoft Corp. | |
| Alphabet, Inc., Class A | |
| Meta Platforms, Inc., Class A | |
| American International Group, Inc. | |
| Abbott Laboratories | |
| Aon plc, Class A | |
| SentinelOne, Inc., Class A | |
| Amazon.com, Inc. | |
| Citigroup, Inc. | |
| Short: | |
| NewMarket Corp. | |
| Federal Signal Corp. | |
| Medpace Holdings, Inc. | |
| Acushnet Holdings Corp. | |
| Bank of Hawaii Corp. | |
| Blue Bird Corp. | |
| eBay, Inc. | |
| International Business Machines Corp. | |
| Matson, Inc. | |
| Williams-Sonoma, Inc. |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Long: | |
| Taiwan Semiconductor Manufacturing Co. Ltd. - ADR | |
| Microsoft Corp. | |
| Alphabet, Inc., Class A | |
| Meta Platforms, Inc., Class A | |
| American International Group, Inc. | |
| Abbott Laboratories | |
| Aon plc, Class A | |
| SentinelOne, Inc., Class A | |
| Amazon.com, Inc. | |
| Citigroup, Inc. | |
| Short: | |
| NewMarket Corp. | |
| Federal Signal Corp. | |
| Medpace Holdings, Inc. | |
| Acushnet Holdings Corp. | |
| Bank of Hawaii Corp. | |
| Blue Bird Corp. | |
| eBay, Inc. | |
| International Business Machines Corp. | |
| Matson, Inc. | |
| Williams-Sonoma, Inc. |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Investor | $61 | 1.17%1 |
The Fund (Ticker: DHIAX) returned 11.36% for the 6-month period ended June 30, 2026. Over that same period, the MSCI ACWI ex USA Index returned 13.68%. Security selection is the primary driver of the Fund's performance during any given period — the top and bottom contributors to return are illustrated in the chart.
| Six Months | One Year | Five Years | Since Inception (12/30/2016) | |
|---|---|---|---|---|
| Investor | 11.36% | 22.93% | 7.99% | 10.42% |
| MSCI ACWI ex USA Index | 13.68 | 27.66 | 8.79 | 9.85 |
| Net Assets | $170,926,820 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 18% |
| Total Advisory Fees Paid | $555,396 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Taiwan Semiconductor Manufacturing Co. Ltd. - ADR | |
| SK hynix, Inc. | |
| AIB Group plc | |
| Glencore plc | |
| British American Tobacco plc | |
| Samsung Electronics Co. Ltd. | |
| Singapore Exchange Ltd. | |
| Compagnie Financiere Richemont SA, Class A | |
| Veolia Environment SA | |
| Max Co. Ltd. |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Taiwan Semiconductor Manufacturing Co. Ltd. - ADR | |
| SK hynix, Inc. | |
| AIB Group plc | |
| Glencore plc | |
| British American Tobacco plc | |
| Samsung Electronics Co. Ltd. | |
| Singapore Exchange Ltd. | |
| Compagnie Financiere Richemont SA, Class A | |
| Veolia Environment SA | |
| Max Co. Ltd. |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
On August 6, 2026, the Board approved a plan of liquidation for the Fund. The Fund closed to new investors effective August 7, 2026 and will close to subsequent investments by existing shareholders effective September 8, 2026. The Fund will liquidate on or about September 10, 2026.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Class I | $46 | 0.88%1 |
The Fund (Ticker: DHIIX) returned 11.52% for the 6-month period ended June 30, 2026. Over that same period, the MSCI ACWI ex USA Index returned 13.68%. Security selection is the primary driver of the Fund's performance during any given period — the top and bottom contributors to return are illustrated in the chart.
| Six Months | One Year | Five Years | Since Inception (12/30/2016) | |
|---|---|---|---|---|
| Class I | 11.52% | 23.28% | 8.32% | 10.75% |
| MSCI ACWI ex USA Index | 13.68 | 27.66 | 8.79 | 9.85 |
| Net Assets | $170,926,820 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 18% |
| Total Advisory Fees Paid | $555,396 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Taiwan Semiconductor Manufacturing Co. Ltd. - ADR | |
| SK hynix, Inc. | |
| AIB Group plc | |
| Glencore plc | |
| British American Tobacco plc | |
| Samsung Electronics Co. Ltd. | |
| Singapore Exchange Ltd. | |
| Compagnie Financiere Richemont SA, Class A | |
| Veolia Environment SA | |
| Max Co. Ltd. |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Taiwan Semiconductor Manufacturing Co. Ltd. - ADR | |
| SK hynix, Inc. | |
| AIB Group plc | |
| Glencore plc | |
| British American Tobacco plc | |
| Samsung Electronics Co. Ltd. | |
| Singapore Exchange Ltd. | |
| Compagnie Financiere Richemont SA, Class A | |
| Veolia Environment SA | |
| Max Co. Ltd. |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
On August 6, 2026, the Board approved a plan of liquidation for the Fund. The Fund closed to new investors effective August 7, 2026 and will close to subsequent investments by existing shareholders effective September 8, 2026. The Fund will liquidate on or about September 10, 2026.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Class Y | $39 | 0.75%1 |
The Fund (Ticker: DHIYX) returned 11.59% for the 6-month period ended June 30, 2026. Over that same period, the MSCI ACWI ex USA Index returned 13.68%. Security selection is the primary driver of the Fund's performance during any given period — the top and bottom contributors to return are illustrated in the chart.
| Six Months | One Year | Five Years | Since Inception (12/30/2016) | |
|---|---|---|---|---|
| Class Y | 11.59% | 23.42% | 8.44% | 10.88% |
| MSCI ACWI ex USA Index | 13.68 | 27.66 | 8.79 | 9.85 |
| Net Assets | $170,926,820 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 18% |
| Total Advisory Fees Paid | $555,396 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Taiwan Semiconductor Manufacturing Co. Ltd. - ADR | |
| SK hynix, Inc. | |
| AIB Group plc | |
| Glencore plc | |
| British American Tobacco plc | |
| Samsung Electronics Co. Ltd. | |
| Singapore Exchange Ltd. | |
| Compagnie Financiere Richemont SA, Class A | |
| Veolia Environment SA | |
| Max Co. Ltd. |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Taiwan Semiconductor Manufacturing Co. Ltd. - ADR | |
| SK hynix, Inc. | |
| AIB Group plc | |
| Glencore plc | |
| British American Tobacco plc | |
| Samsung Electronics Co. Ltd. | |
| Singapore Exchange Ltd. | |
| Compagnie Financiere Richemont SA, Class A | |
| Veolia Environment SA | |
| Max Co. Ltd. |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
On August 6, 2026, the Board approved a plan of liquidation for the Fund. The Fund closed to new investors effective August 7, 2026 and will close to subsequent investments by existing shareholders effective September 8, 2026. The Fund will liquidate on or about September 10, 2026.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Investor | $41 | 0.82%1 |
The Fund (Ticker: DHEAX) returned 1.99% for the 6-month period ended June 30, 2026. Over that same period, the Bloomberg 1-3 Year US Government/Credit Index returned 0.77%. All sectors contributed positively to the Fund's performance over the period, with particular strength in the asset-backed securities (ABS), non-agency mortgage-backed securities (MBS) and non-agency commercial mortgage-backed securities (CMBS) sectors.
| Six Months | One Year | Five Years | Since Inception (07/05/2016) | |
|---|---|---|---|---|
| Investor | 1.99% | 4.58% | 4.38% | 3.95% |
| Bloomberg US Aggregate Bond Index | 0.62 | 3.79 | 0.08 | 1.48 |
| Bloomberg 1-3 Year US Government/Credit Index | 0.77 | 3.14 | 2.12 | 1.99 |
| Net Assets | $5,570,673,729 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 26% |
| Total Advisory Fees Paid | $8,990,111 |
| Effective Duration | 1.38 |
| Weighted Average Life | 2.24 |
| Option-Adjusted Spread | 196 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| US Bank NA, Series 2026-SUP1, Class B1 5.500% 06/27/33 | |
| U.S. Treasury Notes 3.625% 05/31/28 | |
| MultiFamily Structured Credit Risk, Series 2021-MN2, Class M2 8.685% 07/25/41 | |
| U.S. Treasury Notes 2.250% 08/15/27 | |
| GPCC Amortizing Receivables, Series 2026-1A, Class A 5.960% 06/16/36 | |
| Life Financial Services Trust, Series 2022-BMR2, Class A1 5.692% 05/15/39 | |
| HTAP Trust, Series 2024-2, Class A 6.500% 04/25/42 | |
| FNMA, Pool #MA6009 5.500% 03/01/46 | |
| GPCC Amortizing Receivables, Series 2026-1A, Class D 9.260% 06/16/36 | |
| U.S. Treasury Notes 1.250% 09/30/28 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| US Bank NA, Series 2026-SUP1, Class B1 5.500% 06/27/33 | |
| U.S. Treasury Notes 3.625% 05/31/28 | |
| MultiFamily Structured Credit Risk, Series 2021-MN2, Class M2 8.685% 07/25/41 | |
| U.S. Treasury Notes 2.250% 08/15/27 | |
| GPCC Amortizing Receivables, Series 2026-1A, Class A 5.960% 06/16/36 | |
| Life Financial Services Trust, Series 2022-BMR2, Class A1 5.692% 05/15/39 | |
| HTAP Trust, Series 2024-2, Class A 6.500% 04/25/42 | |
| FNMA, Pool #MA6009 5.500% 03/01/46 | |
| GPCC Amortizing Receivables, Series 2026-1A, Class D 9.260% 06/16/36 | |
| U.S. Treasury Notes 1.250% 09/30/28 |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
Effective on or about October 30, 2026, the Fund is expected to change its principal investment strategy to, among other things, remove the requirement to invest a minimum percentage of the Fund's assets in securitized bond investments, and be renamed the Diamond Hill Short Duration Income Fund.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Class I | $27 | 0.53%1 |
The Fund (Ticker: DHEIX) returned 2.04% for the 6-month period ended June 30, 2026. Over that same period, the Bloomberg 1-3 Year US Government/Credit Index returned 0.77%. All sectors contributed positively to the Fund's performance over the period, with particular strength in the asset-backed securities (ABS), non-agency mortgage-backed securities (MBS) and non-agency commercial mortgage-backed securities (CMBS) sectors.
| Six Months | One Year | Five Years | Since Inception (07/05/2016) | |
|---|---|---|---|---|
| Class I | 2.04% | 4.76% | 4.67% | 4.24% |
| Bloomberg US Aggregate Bond Index | 0.62 | 3.79 | 0.08 | 1.48 |
| Bloomberg 1-3 Year US Government/Credit Index | 0.77 | 3.14 | 2.12 | 1.99 |
| Net Assets | $5,570,673,729 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 26% |
| Total Advisory Fees Paid | $8,990,111 |
| Effective Duration | 1.38 |
| Weighted Average Life | 2.24 |
| Option-Adjusted Spread | 196 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| US Bank NA, Series 2026-SUP1, Class B1 5.500% 06/27/33 | |
| U.S. Treasury Notes 3.625% 05/31/28 | |
| MultiFamily Structured Credit Risk, Series 2021-MN2, Class M2 8.685% 07/25/41 | |
| U.S. Treasury Notes 2.250% 08/15/27 | |
| GPCC Amortizing Receivables, Series 2026-1A, Class A 5.960% 06/16/36 | |
| Life Financial Services Trust, Series 2022-BMR2, Class A1 5.692% 05/15/39 | |
| HTAP Trust, Series 2024-2, Class A 6.500% 04/25/42 | |
| FNMA, Pool #MA6009 5.500% 03/01/46 | |
| GPCC Amortizing Receivables, Series 2026-1A, Class D 9.260% 06/16/36 | |
| U.S. Treasury Notes 1.250% 09/30/28 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| US Bank NA, Series 2026-SUP1, Class B1 5.500% 06/27/33 | |
| U.S. Treasury Notes 3.625% 05/31/28 | |
| MultiFamily Structured Credit Risk, Series 2021-MN2, Class M2 8.685% 07/25/41 | |
| U.S. Treasury Notes 2.250% 08/15/27 | |
| GPCC Amortizing Receivables, Series 2026-1A, Class A 5.960% 06/16/36 | |
| Life Financial Services Trust, Series 2022-BMR2, Class A1 5.692% 05/15/39 | |
| HTAP Trust, Series 2024-2, Class A 6.500% 04/25/42 | |
| FNMA, Pool #MA6009 5.500% 03/01/46 | |
| GPCC Amortizing Receivables, Series 2026-1A, Class D 9.260% 06/16/36 | |
| U.S. Treasury Notes 1.250% 09/30/28 |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
Effective on or about October 30, 2026, the Fund is expected to change its principal investment strategy to, among other things, remove the requirement to invest a minimum percentage of the Fund's assets in securitized bond investments, and be renamed the Diamond Hill Short Duration Income Fund.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Class Y | $20 | 0.40%1 |
The Fund (Ticker: DHEYX) returned 2.20% for the 6-month period ended June 30, 2026. Over that same period, the Bloomberg 1-3 Year US Government/Credit Index returned 0.77%. All sectors contributed positively to the Fund's performance over the period, with particular strength in the asset-backed securities (ABS), non-agency mortgage-backed securities (MBS) and non-agency commercial mortgage-backed securities (CMBS) sectors.
| Six Months | One Year | Five Years | Since Inception (07/05/2016) | |
|---|---|---|---|---|
| Class Y | 2.20% | 4.99% | 4.83% | 4.37% |
| Bloomberg US Aggregate Bond Index | 0.62 | 3.79 | 0.08 | 1.48 |
| Bloomberg 1-3 Year US Government/Credit Index | 0.77 | 3.14 | 2.12 | 1.99 |
| Net Assets | $5,570,673,729 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 26% |
| Total Advisory Fees Paid | $8,990,111 |
| Effective Duration | 1.38 |
| Weighted Average Life | 2.24 |
| Option-Adjusted Spread | 196 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| US Bank NA, Series 2026-SUP1, Class B1 5.500% 06/27/33 | |
| U.S. Treasury Notes 3.625% 05/31/28 | |
| MultiFamily Structured Credit Risk, Series 2021-MN2, Class M2 8.685% 07/25/41 | |
| U.S. Treasury Notes 2.250% 08/15/27 | |
| GPCC Amortizing Receivables, Series 2026-1A, Class A 5.960% 06/16/36 | |
| Life Financial Services Trust, Series 2022-BMR2, Class A1 5.692% 05/15/39 | |
| HTAP Trust, Series 2024-2, Class A 6.500% 04/25/42 | |
| FNMA, Pool #MA6009 5.500% 03/01/46 | |
| GPCC Amortizing Receivables, Series 2026-1A, Class D 9.260% 06/16/36 | |
| U.S. Treasury Notes 1.250% 09/30/28 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| US Bank NA, Series 2026-SUP1, Class B1 5.500% 06/27/33 | |
| U.S. Treasury Notes 3.625% 05/31/28 | |
| MultiFamily Structured Credit Risk, Series 2021-MN2, Class M2 8.685% 07/25/41 | |
| U.S. Treasury Notes 2.250% 08/15/27 | |
| GPCC Amortizing Receivables, Series 2026-1A, Class A 5.960% 06/16/36 | |
| Life Financial Services Trust, Series 2022-BMR2, Class A1 5.692% 05/15/39 | |
| HTAP Trust, Series 2024-2, Class A 6.500% 04/25/42 | |
| FNMA, Pool #MA6009 5.500% 03/01/46 | |
| GPCC Amortizing Receivables, Series 2026-1A, Class D 9.260% 06/16/36 | |
| U.S. Treasury Notes 1.250% 09/30/28 |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
Effective on or about October 30, 2026, the Fund is expected to change its principal investment strategy to, among other things, remove the requirement to invest a minimum percentage of the Fund's assets in securitized bond investments, and be renamed the Diamond Hill Short Duration Income Fund.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Investor | $58 | 1.17%1 |
The Fund (Ticker: DHWAX) returned 0.76% for the 6-month period ended June 30, 2026. Over that same period, the Bloomberg US Securitized: MBS, ABS and CMBS Index returned 0.98%. All sectors contributed positively to the Fund's performance over the period, with particular strength in the agency and non-agency mortgage-backed securities (MBS) sectors.
| Six Months | One Year | Since Inception (06/30/2025) | |
|---|---|---|---|
| Investor | 0.76% | 5.66% | 5.66% |
| Bloomberg US Aggregate Bond Index | 0.62 | 3.79 | 3.79 |
| Bloomberg US Securitized: MBS, ABS and CMBS Index | 0.98 | 5.12 | 5.12 |
| Net Assets | $31,973,423 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 10% |
| Total Advisory Fees Paid | $110,910 |
| Effective Duration | 5.28 |
| Weighted Average Life | 5.85 |
| Option-Adjusted Spread | 199 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| FNMA, Series 2018-95, Class B 3.500% 01/25/49 | |
| FNMA, Series 2017-87, Class EA 3.000% 04/25/44 | |
| FNMA, Series 2012-103, Class ZP 3.000% 09/25/42 | |
| FHLMC, Series 4425, Class TA 2.000% 01/15/45 | |
| GNMA, Series 2009-54, Class Z 6.000% 07/16/39 | |
| FNMA, Series 2020-44, Class EG 2.000% 09/25/42 | |
| RMF Buyout Issuance Trust 4.704% 11/25/31 | |
| FHLMC, Series 4152, Class GW 2.500% 01/15/43 | |
| GNMA, Series 2011-7, Class LS (IO) 2.183% 12/20/40 | |
| FHLMC, Series 5071, Class ZT 1.500% 02/25/51 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| FNMA, Series 2018-95, Class B 3.500% 01/25/49 | |
| FNMA, Series 2017-87, Class EA 3.000% 04/25/44 | |
| FNMA, Series 2012-103, Class ZP 3.000% 09/25/42 | |
| FHLMC, Series 4425, Class TA 2.000% 01/15/45 | |
| GNMA, Series 2009-54, Class Z 6.000% 07/16/39 | |
| FNMA, Series 2020-44, Class EG 2.000% 09/25/42 | |
| RMF Buyout Issuance Trust 4.704% 11/25/31 | |
| FHLMC, Series 4152, Class GW 2.500% 01/15/43 | |
| GNMA, Series 2011-7, Class LS (IO) 2.183% 12/20/40 | |
| FHLMC, Series 5071, Class ZT 1.500% 02/25/51 |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Class I | $44 | 0.88%1 |
The Fund (Ticker: DHWIX) returned 0.94% for the 6-month period ended June 30, 2026. Over that same period, the Bloomberg US Securitized: MBS, ABS and CMBS Index returned 0.98%. All sectors contributed positively to the Fund's performance over the period, with particular strength in the agency and non-agency mortgage-backed securities (MBS) sectors.
| Six Months | One Year | Since Inception (06/30/2025) | |
|---|---|---|---|
| Class I | 0.94% | 6.02% | 6.02% |
| Bloomberg US Aggregate Bond Index | 0.62 | 3.79 | 3.79 |
| Bloomberg US Securitized: MBS, ABS and CMBS Index | 0.98 | 5.12 | 5.12 |
| Net Assets | $31,973,423 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 10% |
| Total Advisory Fees Paid | $110,910 |
| Effective Duration | 5.28 |
| Weighted Average Life | 5.85 |
| Option-Adjusted Spread | 199 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| FNMA, Series 2018-95, Class B 3.500% 01/25/49 | |
| FNMA, Series 2017-87, Class EA 3.000% 04/25/44 | |
| FNMA, Series 2012-103, Class ZP 3.000% 09/25/42 | |
| FHLMC, Series 4425, Class TA 2.000% 01/15/45 | |
| GNMA, Series 2009-54, Class Z 6.000% 07/16/39 | |
| FNMA, Series 2020-44, Class EG 2.000% 09/25/42 | |
| RMF Buyout Issuance Trust 4.704% 11/25/31 | |
| FHLMC, Series 4152, Class GW 2.500% 01/15/43 | |
| GNMA, Series 2011-7, Class LS (IO) 2.183% 12/20/40 | |
| FHLMC, Series 5071, Class ZT 1.500% 02/25/51 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| FNMA, Series 2018-95, Class B 3.500% 01/25/49 | |
| FNMA, Series 2017-87, Class EA 3.000% 04/25/44 | |
| FNMA, Series 2012-103, Class ZP 3.000% 09/25/42 | |
| FHLMC, Series 4425, Class TA 2.000% 01/15/45 | |
| GNMA, Series 2009-54, Class Z 6.000% 07/16/39 | |
| FNMA, Series 2020-44, Class EG 2.000% 09/25/42 | |
| RMF Buyout Issuance Trust 4.704% 11/25/31 | |
| FHLMC, Series 4152, Class GW 2.500% 01/15/43 | |
| GNMA, Series 2011-7, Class LS (IO) 2.183% 12/20/40 | |
| FHLMC, Series 5071, Class ZT 1.500% 02/25/51 |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Class Y | $37 | 0.75%1 |
The Fund (Ticker: DHWYX) returned 1.00% for the 6-month period ended June 30, 2026. Over that same period, the Bloomberg US Securitized: MBS, ABS and CMBS Index returned 0.98%. All sectors contributed positively to the Fund's performance over the period, with particular strength in the agency and non-agency mortgage-backed securities (MBS) sectors.
| Six Months | One Year | Since Inception (06/30/2025) | |
|---|---|---|---|
| Class Y | 1.00% | 6.13% | 6.13% |
| Bloomberg US Aggregate Bond Index | 0.62 | 3.79 | 3.79 |
| Bloomberg US Securitized: MBS, ABS and CMBS Index | 0.98 | 5.12 | 5.12 |
| Net Assets | $31,973,423 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 10% |
| Total Advisory Fees Paid | $110,910 |
| Effective Duration | 5.28 |
| Weighted Average Life | 5.85 |
| Option-Adjusted Spread | 199 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| FNMA, Series 2018-95, Class B 3.500% 01/25/49 | |
| FNMA, Series 2017-87, Class EA 3.000% 04/25/44 | |
| FNMA, Series 2012-103, Class ZP 3.000% 09/25/42 | |
| FHLMC, Series 4425, Class TA 2.000% 01/15/45 | |
| GNMA, Series 2009-54, Class Z 6.000% 07/16/39 | |
| FNMA, Series 2020-44, Class EG 2.000% 09/25/42 | |
| RMF Buyout Issuance Trust 4.704% 11/25/31 | |
| FHLMC, Series 4152, Class GW 2.500% 01/15/43 | |
| GNMA, Series 2011-7, Class LS (IO) 2.183% 12/20/40 | |
| FHLMC, Series 5071, Class ZT 1.500% 02/25/51 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| FNMA, Series 2018-95, Class B 3.500% 01/25/49 | |
| FNMA, Series 2017-87, Class EA 3.000% 04/25/44 | |
| FNMA, Series 2012-103, Class ZP 3.000% 09/25/42 | |
| FHLMC, Series 4425, Class TA 2.000% 01/15/45 | |
| GNMA, Series 2009-54, Class Z 6.000% 07/16/39 | |
| FNMA, Series 2020-44, Class EG 2.000% 09/25/42 | |
| RMF Buyout Issuance Trust 4.704% 11/25/31 | |
| FHLMC, Series 4152, Class GW 2.500% 01/15/43 | |
| GNMA, Series 2011-7, Class LS (IO) 2.183% 12/20/40 | |
| FHLMC, Series 5071, Class ZT 1.500% 02/25/51 |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Investor | $38 | 0.77%1 |
The Fund (Ticker: DHRAX) returned 0.88% for the 6-month period ended June 30, 2026. Over that same period, the Bloomberg US Aggregate Bond Index returned 0.62%. All sectors contributed positively to the Fund's performance over the period, with particular strength in the agency mortgage-backed securities (MBS), non-agency mortgage-backed securities (MBS) and asset-backed securities (ABS).
| Six Months | One Year | Five Years | Since Inception (07/05/2016) | |
|---|---|---|---|---|
| Investor | 0.88% | 3.69% | 0.76% | 2.03% |
| Bloomberg US Aggregate Bond Index | 0.62 | 3.79 | 0.08 | 1.48 |
| Net Assets | $3,250,126,430 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 11% |
| Total Advisory Fees Paid | $4,758,980 |
| Effective Duration | 5.62 |
| Weighted Average Life | 7.09 |
| Option-Adjusted Spread | 112 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| U.S. Treasury Bonds 3.000% 02/15/48 | |
| U.S. Treasury Notes 4.000% 02/15/34 | |
| U.S. Treasury Notes 0.625% 08/15/30 | |
| U.S. Treasury Bonds 1.625% 11/15/50 | |
| U.S. Treasury Bonds 2.250% 08/15/46 | |
| U.S. Treasury Bonds 1.125% 08/15/40 | |
| U.S. Treasury STRIPS 0.000% 11/15/38 | |
| U.S. Treasury STRIPS 0.625% 02/15/43 | |
| U.S. Treasury Bonds 1.375% 11/15/40 | |
| U.S. Treasury Notes 1.250% 09/30/28 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| U.S. Treasury Bonds 3.000% 02/15/48 | |
| U.S. Treasury Notes 4.000% 02/15/34 | |
| U.S. Treasury Notes 0.625% 08/15/30 | |
| U.S. Treasury Bonds 1.625% 11/15/50 | |
| U.S. Treasury Bonds 2.250% 08/15/46 | |
| U.S. Treasury Bonds 1.125% 08/15/40 | |
| U.S. Treasury STRIPS 0.000% 11/15/38 | |
| U.S. Treasury STRIPS 0.625% 02/15/43 | |
| U.S. Treasury Bonds 1.375% 11/15/40 | |
| U.S. Treasury Notes 1.250% 09/30/28 |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Class I | $24 | 0.48%1 |
The Fund (Ticker: DHRIX) returned 1.06% for the 6-month period ended June 30, 2026. Over that same period, the Bloomberg US Aggregate Bond Index returned 0.62%. All sectors contributed positively to the Fund's performance over the period, with particular strength in the agency mortgage-backed securities (MBS), non-agency mortgage-backed securities (MBS) and asset-backed securities (ABS).
| Six Months | One Year | Five Years | Since Inception (07/05/2016) | |
|---|---|---|---|---|
| Class I | 1.06% | 3.97% | 1.03% | 2.32% |
| Bloomberg US Aggregate Bond Index | 0.62 | 3.79 | 0.08 | 1.48 |
| Net Assets | $3,250,126,430 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 11% |
| Total Advisory Fees Paid | $4,758,980 |
| Effective Duration | 5.62 |
| Weighted Average Life | 7.09 |
| Option-Adjusted Spread | 112 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| U.S. Treasury Bonds 3.000% 02/15/48 | |
| U.S. Treasury Notes 4.000% 02/15/34 | |
| U.S. Treasury Notes 0.625% 08/15/30 | |
| U.S. Treasury Bonds 1.625% 11/15/50 | |
| U.S. Treasury Bonds 2.250% 08/15/46 | |
| U.S. Treasury Bonds 1.125% 08/15/40 | |
| U.S. Treasury STRIPS 0.000% 11/15/38 | |
| U.S. Treasury STRIPS 0.625% 02/15/43 | |
| U.S. Treasury Bonds 1.375% 11/15/40 | |
| U.S. Treasury Notes 1.250% 09/30/28 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| U.S. Treasury Bonds 3.000% 02/15/48 | |
| U.S. Treasury Notes 4.000% 02/15/34 | |
| U.S. Treasury Notes 0.625% 08/15/30 | |
| U.S. Treasury Bonds 1.625% 11/15/50 | |
| U.S. Treasury Bonds 2.250% 08/15/46 | |
| U.S. Treasury Bonds 1.125% 08/15/40 | |
| U.S. Treasury STRIPS 0.000% 11/15/38 | |
| U.S. Treasury STRIPS 0.625% 02/15/43 | |
| U.S. Treasury Bonds 1.375% 11/15/40 | |
| U.S. Treasury Notes 1.250% 09/30/28 |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Class Y | $17 | 0.35%1 |
The Fund (Ticker: DHRYX) returned 1.13% for the 6-month period ended June 30, 2026. Over that same period, the Bloomberg US Aggregate Bond Index returned 0.62%. All sectors contributed positively to the Fund's performance over the period, with particular strength in the agency mortgage-backed securities (MBS), non-agency mortgage-backed securities (MBS) and asset-backed securities (ABS).
| Six Months | One Year | Five Years | Since Inception (07/05/2016) | |
|---|---|---|---|---|
| Class Y | 1.13% | 4.10% | 1.17% | 2.44% |
| Bloomberg US Aggregate Bond Index | 0.62 | 3.79 | 0.08 | 1.48 |
| Net Assets | $3,250,126,430 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 11% |
| Total Advisory Fees Paid | $4,758,980 |
| Effective Duration | 5.62 |
| Weighted Average Life | 7.09 |
| Option-Adjusted Spread | 112 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| U.S. Treasury Bonds 3.000% 02/15/48 | |
| U.S. Treasury Notes 4.000% 02/15/34 | |
| U.S. Treasury Notes 0.625% 08/15/30 | |
| U.S. Treasury Bonds 1.625% 11/15/50 | |
| U.S. Treasury Bonds 2.250% 08/15/46 | |
| U.S. Treasury Bonds 1.125% 08/15/40 | |
| U.S. Treasury STRIPS 0.000% 11/15/38 | |
| U.S. Treasury STRIPS 0.625% 02/15/43 | |
| U.S. Treasury Bonds 1.375% 11/15/40 | |
| U.S. Treasury Notes 1.250% 09/30/28 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| U.S. Treasury Bonds 3.000% 02/15/48 | |
| U.S. Treasury Notes 4.000% 02/15/34 | |
| U.S. Treasury Notes 0.625% 08/15/30 | |
| U.S. Treasury Bonds 1.625% 11/15/50 | |
| U.S. Treasury Bonds 2.250% 08/15/46 | |
| U.S. Treasury Bonds 1.125% 08/15/40 | |
| U.S. Treasury STRIPS 0.000% 11/15/38 | |
| U.S. Treasury STRIPS 0.625% 02/15/43 | |
| U.S. Treasury Bonds 1.375% 11/15/40 | |
| U.S. Treasury Notes 1.250% 09/30/28 |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Investor | $43 | 0.87%1 |
The Fund (Ticker: DHNAX) returned 1.18% for the 6-month period ended June 30, 2026. Over that same period, the Bloomberg US Aggregate Bond Index returned 0.62%. All sectors contributed positively to the Fund's performance over the period, with particular strength in the corporate credit, asset-backed securities (ABS) and agency mortgage-backed securities (MBS) sectors.
| Six Months | One Year | Since Inception (10/15/2024) | |
|---|---|---|---|
| Investor | 1.18% | 4.61% | 4.77% |
| Bloomberg US Aggregate Bond Index | 0.62 | 3.79 | 3.40 |
| Net Assets | $100,382,766 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 23% |
| Total Advisory Fees Paid | $190,963 |
| Effective Duration | 5.71 |
| Weighted Average Life | 7.15 |
| Option-Adjusted Spread | 160 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| U.S. Treasury Notes 4.000% 02/15/34 | |
| U.S. Treasury Bonds 3.000% 02/15/48 | |
| U.S. Treasury Notes 0.625% 08/15/30 | |
| GNMA, Series 2018-27, Class KY 3.5000% 02/20/48 | |
| GNMA, Series 2021-29, Class AG 5.000% 02/20/51 | |
| GNMA, Series 2020-95, Class EA 1.500% 07/20/50 | |
| U.S. Treasury Bonds 1.625% 11/15/50 | |
| GNMA, Series 2022-64, Class MA 2.500% 11/20/51 | |
| GNMA, Series 2014-118, Class ZD 2.500% 08/16/44 | |
| GNMA, Series 2021-136, Class TC 1.500% 08/20/51 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| U.S. Treasury Notes 4.000% 02/15/34 | |
| U.S. Treasury Bonds 3.000% 02/15/48 | |
| U.S. Treasury Notes 0.625% 08/15/30 | |
| GNMA, Series 2018-27, Class KY 3.5000% 02/20/48 | |
| GNMA, Series 2021-29, Class AG 5.000% 02/20/51 | |
| GNMA, Series 2020-95, Class EA 1.500% 07/20/50 | |
| U.S. Treasury Bonds 1.625% 11/15/50 | |
| GNMA, Series 2022-64, Class MA 2.500% 11/20/51 | |
| GNMA, Series 2014-118, Class ZD 2.500% 08/16/44 | |
| GNMA, Series 2021-136, Class TC 1.500% 08/20/51 |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Class I | $29 | 0.58%1 |
The Fund (Ticker: DHNIX) returned 1.25% for the 6-month period ended June 30, 2026. Over that same period, the Bloomberg US Aggregate Bond Index returned 0.62%. All sectors contributed positively to the Fund's performance over the period, with particular strength in the corporate credit, asset-backed securities (ABS) and agency mortgage-backed securities (MBS) sectors.
| Six Months | One Year | Since Inception (10/15/2024) | |
|---|---|---|---|
| Class I | 1.25% | 4.86% | 5.01% |
| Bloomberg US Aggregate Bond Index | 0.62 | 3.79 | 3.40 |
| Net Assets | $100,382,766 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 23% |
| Total Advisory Fees Paid | $190,963 |
| Effective Duration | 5.71 |
| Weighted Average Life | 7.15 |
| Option-Adjusted Spread | 160 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| U.S. Treasury Notes 4.000% 02/15/34 | |
| U.S. Treasury Bonds 3.000% 02/15/48 | |
| U.S. Treasury Notes 0.625% 08/15/30 | |
| GNMA, Series 2018-27, Class KY 3.5000% 02/20/48 | |
| GNMA, Series 2021-29, Class AG 5.000% 02/20/51 | |
| GNMA, Series 2020-95, Class EA 1.500% 07/20/50 | |
| U.S. Treasury Bonds 1.625% 11/15/50 | |
| GNMA, Series 2022-64, Class MA 2.500% 11/20/51 | |
| GNMA, Series 2014-118, Class ZD 2.500% 08/16/44 | |
| GNMA, Series 2021-136, Class TC 1.500% 08/20/51 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| U.S. Treasury Notes 4.000% 02/15/34 | |
| U.S. Treasury Bonds 3.000% 02/15/48 | |
| U.S. Treasury Notes 0.625% 08/15/30 | |
| GNMA, Series 2018-27, Class KY 3.5000% 02/20/48 | |
| GNMA, Series 2021-29, Class AG 5.000% 02/20/51 | |
| GNMA, Series 2020-95, Class EA 1.500% 07/20/50 | |
| U.S. Treasury Bonds 1.625% 11/15/50 | |
| GNMA, Series 2022-64, Class MA 2.500% 11/20/51 | |
| GNMA, Series 2014-118, Class ZD 2.500% 08/16/44 | |
| GNMA, Series 2021-136, Class TC 1.500% 08/20/51 |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Class Y | $22 | 0.45%1 |
The Fund (Ticker: DHNYX) returned 1.32% for the 6-month period ended June 30, 2026. Over that same period, the Bloomberg US Aggregate Bond Index returned 0.62%. All sectors contributed positively to the Fund's performance over the period, with particular strength in the corporate credit, asset-backed securities (ABS) and agency mortgage-backed securities (MBS) sectors.
| Six Months | One Year | Since Inception (10/15/2024) | |
|---|---|---|---|
| Class Y | 1.32% | 4.99% | 5.18% |
| Bloomberg US Aggregate Bond Index | 0.62 | 3.79 | 3.40 |
| Net Assets | $100,382,766 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 23% |
| Total Advisory Fees Paid | $190,963 |
| Effective Duration | 5.71 |
| Weighted Average Life | 7.15 |
| Option-Adjusted Spread | 160 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| U.S. Treasury Notes 4.000% 02/15/34 | |
| U.S. Treasury Bonds 3.000% 02/15/48 | |
| U.S. Treasury Notes 0.625% 08/15/30 | |
| GNMA, Series 2018-27, Class KY 3.5000% 02/20/48 | |
| GNMA, Series 2021-29, Class AG 5.000% 02/20/51 | |
| GNMA, Series 2020-95, Class EA 1.500% 07/20/50 | |
| U.S. Treasury Bonds 1.625% 11/15/50 | |
| GNMA, Series 2022-64, Class MA 2.500% 11/20/51 | |
| GNMA, Series 2014-118, Class ZD 2.500% 08/16/44 | |
| GNMA, Series 2021-136, Class TC 1.500% 08/20/51 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| U.S. Treasury Notes 4.000% 02/15/34 | |
| U.S. Treasury Bonds 3.000% 02/15/48 | |
| U.S. Treasury Notes 0.625% 08/15/30 | |
| GNMA, Series 2018-27, Class KY 3.5000% 02/20/48 | |
| GNMA, Series 2021-29, Class AG 5.000% 02/20/51 | |
| GNMA, Series 2020-95, Class EA 1.500% 07/20/50 | |
| U.S. Treasury Bonds 1.625% 11/15/50 | |
| GNMA, Series 2022-64, Class MA 2.500% 11/20/51 | |
| GNMA, Series 2014-118, Class ZD 2.500% 08/16/44 | |
| GNMA, Series 2021-136, Class TC 1.500% 08/20/51 |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.
| Class | Costs of a $10,000 Investment | Costs Paid as a Percentage of a $10,000 Investment |
|---|---|---|
| Diamond Hill Large Cap Concentrated ETF | $27 | 0.55%1 |
The Fund (Ticker: DHLX) returned -1.67% for the 6-month period ended June 30, 2026. Over that same period, the Russell 1000 Value Index returned 16.26%. Security selection is the primary driver of the Fund's performance during any given period — the top and bottom contributors to return are illustrated in the chart.
| Six Months | One Year | Five Years | Since Inception (02/26/2021) | |
|---|---|---|---|---|
| Diamond Hill Large Cap Concentrated ETF | -1.67% | -0.81% | 6.69% | 8.15% |
| Russell 1000 Index | 10.33 | 22.02 | 12.66 | 14.33 |
| Russell 1000 Value Index | 16.26 | 27.12 | 11.17 | 12.69 |
| Russell 3000 Index | 10.88 | 22.82 | 12.31 | 13.89 |
| Net Assets | $87,093,636 |
|---|---|
| Number of Portfolio Holdings | |
| Portfolio Turnover Rate | 9% |
| Total Advisory Fees Paid | $190,517 |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Berkshire Hathaway, Inc., Class B | |
| American International Group, Inc. | |
| Colgate-Palmolive Co. | |
| Abbott Laboratories | |
| Waste Management, Inc. | |
| Aon plc, Class A | |
| Texas Instruments, Inc. | |
| ConocoPhillips | |
| Labcorp Holdings, Inc. | |
| Union Pacific Corp. |
| Top Ten Holdings | % of Net Assets |
|---|---|
| Berkshire Hathaway, Inc., Class B | |
| American International Group, Inc. | |
| Colgate-Palmolive Co. | |
| Abbott Laboratories | |
| Waste Management, Inc. | |
| Aon plc, Class A | |
| Texas Instruments, Inc. | |
| ConocoPhillips | |
| Labcorp Holdings, Inc. | |
| Union Pacific Corp. |
This is a summary of certain changes to the Fund since April 22, 2026. For more complete information, you may review the Fund's prospectus dated February 28, 2026, as supplemented, at https://www.diamond-hill.com/documents or upon request at 888-226-5595.
On April 22, 2026, First Eagle Investment Management, LLC ("First Eagle") acquired Diamond Hill Investment Group, Inc. ("DHIG"), the parent company of Diamond Hill Capital Management, Inc. (the "Adviser"), the investment adviser to the Fund (the "Transaction"). The Adviser, now operating as a wholly-owned subsidiary of DHIG, which in turn, is a wholly-owned subsidiary of First Eagle, continues to provide investment advisory services as the investment adviser to the Fund without interruption. The Transaction is not expected to result in any change of the portfolio management of the Fund or in the Fund's investment objectives or policies.
At special meetings of shareholders of the Diamond Hill Funds (the "Trust") held on April 17, 2026 and April 21, 2026, shareholders approved a new investment management agreement and elected nine new Trustees to serve as the Board of Trustees of the Trust (the "Board").
The newly elected Trustees began serving and the new investment management agreement, which is substantially similar to the prior agreement, became effective as of the Transaction closing and provides for continuation of the Fund's investment program without interruption.