NPORT-EX 2 fp0085756-1_nportex.htm

Diamond Hill Small Cap Fund

Schedule of Investments

September 30, 2023 (Unaudited)

 

Common Stocks - 97.7%  Shares   Fair Value 
Consumer Discretionary - 9.4%        
Century Communities, Inc.   31,960   $2,134,289 
Green Brick Partners, Inc. (a)(b)   20,878    866,646 
Johnson Outdoors, Inc., Class A (a)   53,588    2,930,728 
Red Rock Resorts, Inc., Class A   349,137    14,314,617 
Rocky Brands, Inc. (a)   147,004    2,160,959 
Vail Resorts, Inc.   7,042    1,562,549 
Wolverine World Wide, Inc.   156,479    1,261,221 
         25,231,009 
Consumer Staples - 11.9%          
Cal-Maine Foods, Inc.   196,417    9,510,511 
Lancaster Colony Corp.   54,496    8,993,475 
Oil-Dri Corp. of America   95,359    5,888,418 
Post Holdings, Inc. (b)   66,884    5,734,634 
Seaboard Corp. (a)   477    1,790,181 
         31,917,219 
Energy - 4.1%          
Centrus Energy Corp., Class A (a)(b)   72,466    4,113,170 
Civitas Resources, Inc. (a)   83,652    6,764,937 
         10,878,107 
Financials - 22.3%          
Bank OZK   252,427    9,357,469 
BOK Financial Corp.   69,131    5,529,097 
Enstar Group Ltd. (b)   28,704    6,946,368 
First Western Financial, Inc. (a)(b)(c)   125,652    2,280,584 
Live Oak Bancshares, Inc.   372,412    10,781,327 
Mr. Cooper Group, Inc. (b)   165,771    8,878,695 
Silvercrest Asset Management Group, Inc., Class A   95,104    1,509,300 
Triumph Financial, Inc. (b)   129,316    8,378,384 
Webster Financial Corp.   155,571    6,271,067 
         59,932,291 
Health Care - 5.3%          
Enovis Corp. (b)   166,040    8,755,289 
UFP Technologies, Inc. (a)(b)   34,471    5,565,343 
         14,320,632 

 

 

Diamond Hill Small Cap Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Common Stocks - 97.7% (Continued)  Shares   Fair Value 
Industrials - 28.8%        
Allegiant Travel Co.   106,688   $8,200,040 
Allient, Inc.   154,495    4,776,985 
Concrete Pumping Holdings, Inc. (a)(b)   690,323    5,922,971 
Douglas Dynamics, Inc.   151,149    4,561,677 
Ducommun, Inc. (a)(b)   48,471    2,108,973 
Energy Recovery, Inc. (b)   155,714    3,302,694 
ESAB Corp.   112,275    7,883,950 
First Advantage Corp.   692,281    9,546,555 
FTAI Aviation Ltd. (a)   189,380    6,732,459 
Gates Industrial Corp. plc (b)   315,333    3,661,016 
Graham Corp. (b)   157,066    2,607,296 
Kirby Corp. (b)   20,507    1,697,980 
Miller Industries, Inc.   6,431    252,160 
WESCO International, Inc.   45,350    6,522,237 
WNS Holdings Ltd. - ADR (b)   140,752    9,635,882 
         77,412,875 
Information Technology - 2.0%          
Progress Software Corp.   28,367    1,491,537 
Rimini Street, Inc. (a)(b)   1,397,187    3,073,811 
Sanmina Corp. (b)   14,947    811,323 
         5,376,671 
Materials - 7.5%          
Ashland, Inc.   129,369    10,566,860 
Haynes International, Inc. (a)   28,332    1,318,005 
Taseko Mines Ltd. (a)(b)   3,257,238    4,136,692 
United States Lime & Minerals, Inc. (a)   20,945    4,209,945 
         20,231,502 
Real Estate - 5.6%          
CubeSmart   35,189    1,341,757 
Douglas Emmett, Inc. (a)   270,967    3,457,539 
Jones Lang LaSalle, Inc. (b)   10,459    1,476,602 
Rayonier, Inc.   57,724    1,642,825 
Ryman Hospitality Properties, Inc.   83,363    6,942,471 
         14,861,194 

 

 

Diamond Hill Small Cap Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Common Stocks - 97.7% (Continued)  Shares   Fair Value 
Utilities - 0.8%        
UGI Corp.   90,932   $2,091,436 
           
Total Common Stocks (Cost $191,802,491)       $262,252,936 

 

Registered Investment Companies - 7.6%  Shares   Fair Value 
State Street Institutional Liquid Reserves Fund -
Premier Class, 5.45% (d)
   2,511,387   $2,512,140 
State Street Navigator Securities Lending Portfolio I, 5.25% (d)(e)   17,977,775    17,977,775 
Total Registered Investment Companies (Cost $20,489,662)       $20,489,915 
           
Total Investment Securities - 105.3% (Cost $212,292,153)       $282,742,851 
           
Liabilities in Excess of Other Assets - (5.3)%        (14,160,032)
           
Net Assets - 100.0%       $268,582,819 

 

(a) All or a portion of the security is on loan.  The total fair value of the securities on loan as of September 30, 2023 was $28,358,575.
(b) Non-income producing security.
(c) Illiquid security as determined under procedures approved by the Board of Trustees. The total fair value of these securities as of September 30, 2023 was $2,280,584, representing 0.8% of net assets.
(d) The rate shown is the 7-day effective yield as of September 30, 2023.
(e) This security was purchased using cash collateral held from securities on loan. Securities on loan are also collateralized by various U.S. Treasury and government agency securities in the amount of $11,360,023.

 

ADR - American Depositary Receipt
plc - Public Limited Company

 

 

Diamond Hill Small-Mid Cap Fund

Schedule of Investments

September 30, 2023 (Unaudited)

 

Common Stocks - 96.3%  Shares   Fair Value 
Communication Services - 1.3%        
Liberty Media Corp. - Liberty Formula One - Series C (a)   315,262   $19,640,823 
           
Consumer Discretionary - 11.9%          
BorgWarner, Inc.   216,827    8,753,306 
CarMax, Inc. (a)(b)   146,873    10,388,327 
Hanesbrands, Inc. (b)   1,994,745    7,899,190 
Lear Corp.   68,273    9,162,237 
NVR, Inc. (a)   9,596    57,223,827 
Red Rock Resorts, Inc., Class A (b)   1,722,132    70,607,412 
Vail Resorts, Inc. (b)   57,024    12,653,055 
Wolverine World Wide, Inc. (b)   854,748    6,889,269 
         183,576,623 
Consumer Staples - 10.1%          
BellRing Brands, Inc. (a)   199,431    8,222,540 
Cal-Maine Foods, Inc. (b)   968,797    46,909,151 
Lancaster Colony Corp.   229,838    37,930,165 
Post Holdings, Inc. (a)(b)   728,734    62,481,653 
         155,543,509 
Energy - 3.8%          
Civitas Resources, Inc. (b)   215,880    17,458,216 
Coterra Energy, Inc.   1,539,839    41,652,645 
         59,110,861 
Financials - 18.6%          
Bank OZK   488,425    18,105,915 
BankUnited, Inc.   446,159    10,127,809 
BOK Financial Corp. (b)   433,607    34,679,888 
Brighthouse Financial, Inc. (a)   236,770    11,587,524 
Brown & Brown, Inc.   134,035    9,361,004 
Enstar Group Ltd. (a)(b)   65,278    15,797,276 
First Interstate BancSystem, Inc., Class A (b)   312,465    7,792,877 
Live Oak Bancshares, Inc. (b)   1,105,138    31,993,745 
Loews Corp.   279,962    17,724,394 
Mr. Cooper Group, Inc. (a)(b)   780,481    41,802,562 
RenaissanceRe Holdings Ltd.   136,057    26,928,401 
Stifel Financial Corp.   200,803    12,337,336 

 

 

Diamond Hill Small-Mid Cap Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Common Stocks - 96.3% (Continued)  Shares   Fair Value 
Financials - 18.6% (Continued)        
Webster Financial Corp.   1,182,211   $47,654,925 
         285,893,656 
Health Care - 3.1%          
Boston Scientific Corp. (a)(b)   198,530    10,482,384 
Enovis Corp. (a)   712,095    37,548,769 
         48,031,153 
Industrials - 26.3%          
Alaska Air Group, Inc. (a)(b)   342,076    12,684,178 
Allegiant Travel Co. (b)   394,938    30,354,935 
Broadridge Financial Solutions, Inc.   52,236    9,352,856 
Energy Recovery, Inc. (a)(b)   753,983    15,991,979 
ESAB Corp.   686,872    48,232,152 
First Advantage Corp. (b)   1,747,435    24,097,129 
Gates Industrial Corp. plc (a)   2,934,006    34,063,810 
Kirby Corp. (a)   110,918    9,184,010 
Regal Rexnord Corp.   321,270    45,903,058 
Sensata Technologies Holding plc (b)   774,259    29,282,475 
SS&C Technologies Holdings, Inc.   611,946    32,151,643 
WESCO International, Inc.   608,643    87,535,036 
WNS Holdings Ltd. - ADR (a)(b)   387,280    26,513,189 
         405,346,450 
Information Technology - 5.2%          
Arrow Electronics, Inc. (a)   104,890    13,136,424 
Ciena Corp. (a)   704,806    33,309,132 
Progress Software Corp. (b)   210,100    11,047,058 
Sanmina Corp. (a)   416,822    22,625,098 
         80,117,712 
Materials - 3.5%          
Ashland, Inc.   666,024    54,400,840 
           
Real Estate - 11.0%          
CubeSmart   1,270,096    48,428,761 
Douglas Emmett, Inc. (b)   1,011,677    12,908,999 
Jones Lang LaSalle, Inc. (a)   128,521    18,144,595 
Mid-America Apartment Communities, Inc.   59,624    7,670,628 

 

 

Diamond Hill Small-Mid Cap Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Common Stocks - 96.3% (Continued)  Shares   Fair Value 
Real Estate - 11.0% (Continued)        
Rayonier, Inc.   1,038,473   $29,554,942 
Ryman Hospitality Properties, Inc.   302,524    25,194,199 
UDR, Inc.   754,632    26,917,723 
         168,819,847 
Utilities - 1.5%          
UGI Corp.   972,987    22,378,701 
           
Total Common Stocks (Cost $1,230,992,771)       $1,482,860,175 

 

 

Diamond Hill Small-Mid Cap Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Registered Investment Companies - 6.9%  Shares   Fair Value 
Diamond Hill Short Duration Securitized Bond Fund - Class Y (c)   973,084   $9,302,684 
State Street Institutional US Government Money Market Fund - Premier Class, 5.29% (d)   46,575,892    46,575,892 
State Street Navigator Securities Lending Portfolio I, 5.25% (d)(e)   50,955,865    50,955,865 
Total Registered Investment Companies (Cost $107,247,029)       $106,834,441 
           
Total Investment Securities - 103.2% (Cost $1,338,239,800)       $1,589,694,616 
           
Liabilities in Excess of Other Assets - (3.2)%        (50,079,421)
           
Net Assets - 100.0%       $1,539,615,195 

 

(a) Non-income producing security.
(b) All or a portion of the security is on loan.  The total fair value of the securities on loan as of September 30, 2023 was $70,972,857.
(c) Affiliated fund.

 

Value, December 31, 2022  $8,793,801 
Purchases   375,639 
Change in Unrealized Appreciation (Depreciation)   133,244 
Value, September 30, 2023  $9,302,684 
Income Distributions  $375,639 

 

(d) The rate shown is the 7-day effective yield as of September 30, 2023.
(e) This security was purchased using cash collateral held from securities on loan. Securities on loan are also collateralized by various U.S. Treasury and government agency securities in the amount of $21,178,396.

 

ADR - American Depositary Receipt
plc - Public Limited Company

 

 

Diamond Hill Mid Cap Fund

Schedule of Investments

September 30, 2023 (Unaudited)

 

Common Stocks - 96.1%  Shares   Fair Value 
Communication Services - 1.3%        
Liberty Media Corp. - Liberty Formula One - Series C (a)   30,126   $1,876,850 
           
Consumer Discretionary - 11.5%          
BorgWarner, Inc.   16,456    664,329 
CarMax, Inc. (a)   13,951    986,754 
Hanesbrands, Inc. (b)   315,866    1,250,829 
Lear Corp.   5,739    770,174 
NVR, Inc. (a)   931    5,551,832 
Red Rock Resorts, Inc., Class A   161,172    6,608,052 
Vail Resorts, Inc.   4,707    1,044,436 
VF Corp. (b)   7,300    128,991 
         17,005,397 
Consumer Staples - 7.9%          
Archer-Daniels-Midland Co.   19,456    1,467,372 
BellRing Brands, Inc. (a)   21,093    869,664 
Lancaster Colony Corp.   20,496    3,382,455 
Post Holdings, Inc. (a)(b)   69,731    5,978,736 
         11,698,227 
Energy - 2.5%          
Coterra Energy, Inc.   135,086    3,654,076 
           
Financials - 17.9%          
Allstate Corp. (The)   23,904    2,663,145 
American International Group, Inc.   91,694    5,556,656 
Bank OZK   43,386    1,608,319 
BOK Financial Corp.   19,117    1,528,978 
Fidelity National Information Services, Inc.   31,246    1,726,966 
Hartford Financial Services Group, Inc. (The)   30,655    2,173,746 
Loews Corp.   14,872    941,546 
Mr. Cooper Group, Inc. (a)   57,314    3,069,738 
Stifel Financial Corp.   13,454    826,614 
Webster Financial Corp.   95,055    3,831,667 
Willis Towers Watson plc   12,650    2,643,344 
         26,570,719 

 

 

Diamond Hill Mid Cap Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Common Stocks - 96.1% (Continued)  Shares   Fair Value 
Health Care - 4.7%        
Boston Scientific Corp. (a)   66,831   $3,528,677 
Enovis Corp. (a)   64,622    3,407,518 
         6,936,195 
Industrials - 24.8%          
Alaska Air Group, Inc. (a)   40,279    1,493,545 
Allegiant Travel Co.   21,861    1,680,236 
ESAB Corp.   67,098    4,711,622 
Ferguson plc   10,585    1,740,915 
Kirby Corp. (a)   14,660    1,213,848 
L3Harris Technologies, Inc.   13,527    2,355,321 
Parker-Hannifin Corp.   15,004    5,844,358 
Regal Rexnord Corp.   31,865    4,552,871 
Sensata Technologies Holding plc   68,584    2,593,847 
SS&C Technologies Holdings, Inc.   63,920    3,358,357 
WESCO International, Inc.   50,023    7,194,308 
         36,739,228 
Information Technology - 6.1%          
Arrow Electronics, Inc. (a)   7,398    926,526 
Check Point Software Technologies Ltd. (a)   25,188    3,357,057 
Ciena Corp. (a)   67,539    3,191,893 
NXP Semiconductors NV   7,948    1,588,964 
         9,064,440 
Materials - 6.1%          
Ashland, Inc.   54,981    4,490,848 
Freeport-McMoRan, Inc.   122,738    4,576,900 
         9,067,748 
Real Estate - 11.4%          
CubeSmart   116,230    4,431,850 
Douglas Emmett, Inc. (b)   20,607    262,945 
Extra Space Storage, Inc.   9,144    1,111,728 
Jones Lang LaSalle, Inc. (a)   11,275    1,591,804 
Mid-America Apartment Communities, Inc.   8,474    1,090,180 
Rayonier, Inc.   63,857    1,817,370 
Ryman Hospitality Properties, Inc.   29,435    2,451,347 
SBA Communications Corp., Class A   7,745    1,550,317 

 

 

Diamond Hill Mid Cap Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Common Stocks - 96.1% (Continued)  Shares   Fair Value 
Real Estate - 11.4% (Continued)        
UDR, Inc.   70,719   $2,522,547 
         16,830,088 
Utilities - 1.9%          
UGI Corp.   120,011    2,760,253 
           
Total Common Stocks (Cost $101,127,600)       $142,203,221 

 

Registered Investment Companies - 4.7%  Shares   Fair Value 
State Street Institutional US Government Money Market Fund - Premier Class, 5.29% (c)   5,579,630   $5,579,630 
State Street Navigator Securities Lending Portfolio I, 5.25% (c)(d)   1,343,216    1,343,216 
Total Registered Investment Companies (Cost $6,922,846)       $6,922,846 
           
Total Investment Securities - 100.8% (Cost $108,050,446)       $149,126,067 
           
Liabilities in Excess of Other Assets - (0.8)%        (1,168,965)
           
Net Assets - 100.0%       $147,957,102 

 

(a) Non-income producing security.
(b) All or a portion of the security is on loan.  The total fair value of the securities on loan as of September 30, 2023 was $1,485,049.
(c) The rate shown is the 7-day effective yield as of September 30, 2023.
(d) This security was purchased using cash collateral held from securities on loan. Securities on loan are also collateralized by various U.S. Treasury and government agency securities in the amount of $153,083.

 

NV - Naamloze Vennootschap
plc - Public Limited Company

 

 

Diamond Hill Large Cap Fund

Schedule of Investments

September 30, 2023 (Unaudited)

 

Common Stocks - 96.2%  Shares   Fair Value 
Communication Services - 1.9%        
Alphabet, Inc., Class A (a)   1,122,617   $146,905,661 
           
Consumer Discretionary - 13.9%          
Amazon.com, Inc. (a)   1,291,193    164,136,454 
BorgWarner, Inc.   2,520,167    101,739,142 
CarMax, Inc. (a)(b)   2,639,099    186,663,472 
General Motors Co.   5,458,017    179,950,820 
Home Depot, Inc. (The) (b)   509,015    153,803,972 
Lear Corp.   824,228    110,611,398 
NVR, Inc. (a)(b)   33,129    197,558,166 
         1,094,463,424 
Consumer Staples - 4.5%          
PepsiCo, Inc.   1,316,148    223,008,117 
Target Corp.   1,209,859    133,774,110 
         356,782,227 
Energy - 7.7%          
Chevron Corp.   1,252,003    211,112,746 
ConocoPhillips   2,770,645    331,923,271 
Diamondback Energy, Inc.   420,661    65,151,976 
         608,187,993 
Financials - 23.8%          
Allstate Corp. (The) (b)   1,751,545    195,139,628 
American International Group, Inc. (b)   5,954,016    360,813,369 
Bank of America Corp.   8,451,801    231,410,311 
Berkshire Hathaway, Inc., Class B (a)   329,619    115,465,536 
Hartford Financial Services Group, Inc. (The)   1,452,547    103,000,108 
KKR & Co., Inc. (b)   3,581,451    220,617,382 
Marsh & McLennan Cos., Inc.   415,345    79,040,153 
Nasdaq, Inc. (b)   2,407,559    116,983,292 
Truist Financial Corp.   5,735,897    164,104,013 
Visa, Inc., Class A (b)   498,961    114,766,020 
Wells Fargo & Co. (b)   4,172,664    170,495,051 
         1,871,834,863 
Health Care - 16.6%          
Abbott Laboratories   2,463,020    238,543,487 

 

 

Diamond Hill Large Cap Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Common Stocks - 96.2% (Continued)  Shares   Fair Value 
Health Care - 16.6% (Continued)        
AbbVie, Inc.   678,231   $101,097,113 
Becton, Dickinson and Co. (b)   546,524    141,292,850 
HCA Healthcare, Inc.   773,831    190,346,949 
Humana, Inc.   332,609    161,820,931 
Laboratory Corp. of America Holdings   601,947    121,021,444 
Medtronic plc   1,773,874    139,000,767 
Pfizer, Inc.   3,101,372    102,872,509 
Stryker Corp.   418,969    114,491,659 
         1,310,487,709 
Industrials - 18.1%          
Carrier Global Corp. (b)   1,527,233    84,303,261 
Caterpillar, Inc.   707,702    193,202,646 
Deere & Co.   351,714    132,729,829 
Ferguson plc   477,410    78,519,623 
Honeywell International, Inc.   597,259    110,337,628 
L3Harris Technologies, Inc.   656,946    114,387,437 
Parker-Hannifin Corp.   405,132    157,807,017 
Regal Rexnord Corp.   788,143    112,609,872 
SS&C Technologies Holdings, Inc.   2,944,806    154,720,107 
Union Pacific Corp.   865,335    176,208,166 
Waste Management, Inc.   735,889    112,178,919 
         1,427,004,505 
Information Technology - 3.5%          
Microsoft Corp.   233,228    73,641,741 
Texas Instruments, Inc. (b)   1,245,954    198,119,145 
         271,760,886 
Materials - 3.0%          
Freeport-McMoRan, Inc.   3,788,746    141,282,338 
Martin Marietta Materials, Inc.   230,638    94,672,286 
         235,954,624 
Real Estate - 2.2%          
Extra Space Storage, Inc.   653,015    79,393,564 
SBA Communications Corp., Class A   478,499    95,781,145 
         175,174,709 

 

 

Diamond Hill Large Cap Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Common Stocks - 96.2% (Continued)  Shares   Fair Value 
Utilities - 1.0%        
Dominion Energy, Inc.   1,850,828   $82,676,487 
           
Total Common Stocks (Cost $6,271,947,169)       $7,581,233,088 

 

Registered Investment Companies - 5.9%  Shares   Fair Value 
State Street Institutional US Government Money Market Fund - Premier Class, 5.29% (c)   218,182,725   $218,182,725 
State Street Navigator Securities Lending Portfolio I, 5.25% (c)(d)   247,990,228    247,990,228 
Total Registered Investment Companies (Cost $466,172,953)       $466,172,953 
           
Total Investment Securities - 102.1% (Cost $6,738,120,122)       $8,047,406,041 
           
Liabilities in Excess of Other Assets - (2.1)%        (168,997,871)
           
Net Assets - 100.0%       $7,878,408,170 

 

(a) Non-income producing security.
(b) All or a portion of the security is on loan.  The total fair value of the securities on loan as of September 30, 2023 was $237,638,512.
(c) The rate shown is the 7-day effective yield as of September 30, 2023.
(d) This security was purchased using cash collateral held from securities on loan. Securities on loan are also collateralized by various U.S. Treasury and government agency securities in the amount of $1,763,487.

 

plc - Public Limited Company

 

 

Diamond Hill Large Cap Concentrated Fund

Schedule of Investments

September 30, 2023 (Unaudited)

 

Common Stocks - 96.7%  Shares   Fair Value 
Communication Services - 4.0%        
Alphabet, Inc., Class A (a)   7,846   $1,026,728 
           
Consumer Discretionary - 16.9%          
Amazon.com, Inc. (a)   8,076    1,026,621 
General Motors Co.   36,382    1,199,515 
Home Depot, Inc. (The)   3,217    972,049 
NVR, Inc. (a)   200    1,192,660 
         4,390,845 
Consumer Staples - 5.2%          
PepsiCo, Inc.   7,982    1,352,470 
           
Energy - 7.6%          
ConocoPhillips   16,551    1,982,810 
           
Financials - 23.0%          
Allstate Corp. (The)   11,134    1,240,439 
American International Group, Inc.   38,802    2,351,401 
Bank of America Corp.   39,817    1,090,189 
KKR & Co., Inc.   21,049    1,296,618 
         5,978,647 
Health Care - 14.5%          
Abbott Laboratories   14,540    1,408,199 
HCA Healthcare, Inc.   4,892    1,203,334 
Humana, Inc.   2,368    1,152,079 
         3,763,612 
Industrials - 17.4%          
Caterpillar, Inc.   4,811    1,313,403 
Parker-Hannifin Corp.   2,753    1,072,349 
SS&C Technologies Holdings, Inc.   19,108    1,003,934 
Union Pacific Corp.   5,568    1,133,812 
         4,523,498 
Information Technology - 4.7%          
Texas Instruments, Inc.   7,741    1,230,896 

 

 

Diamond Hill Large Cap Concentrated Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Common Stocks - 96.7% (Continued)  Shares   Fair Value 
Materials - 3.4%        
Freeport-McMoRan, Inc.   23,640   $881,536 
           
Total Common Stocks (Cost $23,574,346)       $25,131,042 

 

Registered Investment Companies - 3.3%  Shares   Fair Value 
State Street Institutional Liquid Reserves Fund -
Premier Class, 5.45% (b) (Cost $858,520)
   858,344   $858,602 
           
Total Investment Securities - 100.0% (Cost $24,432,866)       $25,989,644 
           
Other Assets in Excess of Liabilities - 0.0% (c)        5,762 
           
Net Assets - 100.0%       $25,995,406 

 

(a) Non-income producing security.
(b) The rate shown is the 7-day effective yield as of September 30, 2023.
(c) Percentage rounds to less than 0.1%.

 

 

Diamond Hill Select Fund

Schedule of Investments

September 30, 2023 (Unaudited)

 

Common Stocks - 96.7%  Shares   Fair Value 
Communication Services - 2.1%        
Alphabet, Inc., Class A (a)   63,367   $8,292,206 
           
Consumer Discretionary - 20.2%          
Amazon.com, Inc. (a)   98,257    12,490,430 
CarMax, Inc. (a)   237,533    16,800,709 
General Motors Co.   468,961    15,461,644 
Lear Corp.   78,433    10,525,709 
Red Rock Resorts, Inc., Class A   623,708    25,572,028 
         80,850,520 
Consumer Staples - 7.6%          
Lancaster Colony Corp.   42,849    7,071,370 
SunOpta, Inc. (a)(b)   3,161,928    10,655,697 
Target Corp.   116,410    12,871,454 
         30,598,521 
Financials - 27.7%          
Allstate Corp. (The)   161,278    17,967,982 
American International Group, Inc.   423,952    25,691,491 
Bank of America Corp.   442,718    12,121,619 
KKR & Co., Inc.   209,939    12,932,242 
Mr. Cooper Group, Inc. (a)   630,537    33,771,562 
Webster Financial Corp.   203,212    8,191,476 
         110,676,372 
Health Care - 6.2%          
Enovis Corp. (a)   245,513    12,945,900 
Humana, Inc.   24,275    11,810,273 
         24,756,173 
Industrials - 24.6%          
Cimpress plc (a)(b)   342,083    23,949,231 
ESAB Corp.   142,507    10,006,842 
Regal Rexnord Corp.   101,515    14,504,463 
SS&C Technologies Holdings, Inc.   248,630    13,063,020 
Union Pacific Corp.   62,689    12,765,361 
WESCO International, Inc.   168,367    24,214,542 
         98,503,459 

 

 

Diamond Hill Select Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Common Stocks - 96.7% (Continued)  Shares   Fair Value 
Information Technology - 2.6%        
Texas Instruments, Inc.   64,797   $10,303,371 
           
Materials - 4.2%          
Ashland, Inc.   203,507    16,622,452 
           
Real Estate - 1.5%          
Extra Space Storage, Inc.   49,760    6,049,821 
           
Total Common Stocks (Cost $308,592,049)       $386,652,895 

 

Registered Investment Companies - 5.9%  Shares   Fair Value 
State Street Institutional Liquid Reserves Fund -
Premier Class, 5.45% (c)
   14,614,744   $14,619,129 
State Street Navigator Securities Lending Portfolio I, 5.25% (c)(d)   9,156,230    9,156,230 
Total Registered Investment Companies (Cost $23,774,003)       $23,775,359 
           
Total Investment Securities - 102.6% (Cost $332,366,052)       $410,428,254 
           
Liabilities in Excess of Other Assets - (2.6)%        (10,501,976)
           
Net Assets - 100.0%       $399,926,278 

 

(a) Non-income producing security.
(b) All or a portion of the security is on loan.  The total fair value of the securities on loan as of September 30, 2023 was $10,098,443.
(c) The rate shown is the 7-day effective yield as of September 30, 2023.
(d) This security was purchased using cash collateral held from securities on loan. Securities on loan are also collateralized by various U.S. Treasury and government agency securities in the amount of $1,384,315.

 

plc - Public Limited Company

 

 

Diamond Hill Long-Short Fund

Schedule of Investments

September 30, 2023 (Unaudited)

 

Common Stocks - 85.6%  Shares   Fair Value 
Communication Services - 11.9%        
Alphabet, Inc., Class A (a)   544,955   $71,312,811 
Comcast Corp., Class A   363,204    16,104,465 
Meta Platforms, Inc., Class A (a)   223,239    67,018,580 
Verizon Communications, Inc.   691,355    22,406,816 
Walt Disney Co. (The) (a)(b)   333,119    26,999,295 
         203,841,967 
Consumer Discretionary - 3.2%          
Booking Holdings, Inc. (a)(c)   2,203    6,793,942 
BorgWarner, Inc. (b)   192,450    7,769,207 
Lear Corp.   180,400    24,209,680 
TJX Cos., Inc. (The)   180,176    16,014,043 
         54,786,872 
Consumer Staples - 4.5%          
Archer-Daniels-Midland Co.   174,016    13,124,287 
Constellation Brands, Inc., Class A (b)   101,434    25,493,407 
Mondelez International, Inc., Class A (b)   121,630    8,441,122 
Target Corp.   273,885    30,283,464 
         77,342,280 
Energy - 4.3%          
Chevron Corp.   255,509    43,083,928 
Coterra Energy, Inc.   1,151,653    31,152,214 
         74,236,142 
Financials - 23.5%          
Allstate Corp. (The)   329,080    36,662,803 
American International Group, Inc.   1,119,175    67,822,005 
Bank of America Corp. (c)   982,690    26,906,052 
Berkshire Hathaway, Inc., Class B (a)   92,454    32,386,636 
Citigroup, Inc. (c)   974,741    40,091,097 
Fidelity National Information Services, Inc.   572,406    31,636,880 
Hartford Financial Services Group, Inc. (The) (b)   253,421    17,970,083 
KKR & Co., Inc. (b)   747,078    46,020,005 
Morgan Stanley (b)   202,252    16,517,921 
Truist Financial Corp. (b)(c)   961,289    27,502,478 
Visa, Inc., Class A   113,167    26,029,542 

 

 

Diamond Hill Long-Short Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Common Stocks - 85.6% (Continued)  Shares   Fair Value 
Financials - 23.5% (Continued)        
Wells Fargo & Co. (b)(c)   809,808   $33,088,755 
         402,634,257 
Health Care - 14.3%          
Abbott Laboratories   269,012    26,053,812 
Becton, Dickinson and Co. (b)   68,227    17,638,726 
CVS Health Corp.   302,849    21,144,917 
Enovis Corp. (a)(b)   438,637    23,129,329 
HCA Healthcare, Inc.   127,681    31,406,972 
Humana, Inc.   81,125    39,468,935 
Laboratory Corp. of America Holdings (b)   106,269    21,365,382 
Medtronic plc   380,029    29,779,072 
Perrigo Co. plc (b)   601,849    19,229,076 
Pfizer, Inc. (b)   479,375    15,900,869 
         245,117,090 
Industrials - 12.3%          
Alaska Air Group, Inc. (a)(b)   370,728    13,746,594 
ESAB Corp. (b)   182,180    12,792,680 
Johnson Controls International plc (b)   354,685    18,872,789 
Kirby Corp. (a)   155,138    12,845,426 
L3Harris Technologies, Inc.   129,560    22,558,987 
Parker-Hannifin Corp. (b)   96,221    37,480,004 
Sensata Technologies Holding plc   554,198    20,959,768 
SS&C Technologies Holdings, Inc.   645,584    33,918,983 
WNS Holdings Ltd. - ADR (a)   551,929    37,785,059 
         210,960,290 
Information Technology - 7.9%          
Ciena Corp. (a)(b)(c)   798,580    37,740,891 
Microsoft Corp. (c)   172,477    54,459,613 
Taiwan Semiconductor Manufacturing Co. Ltd. - ADR (b)   244,020    21,205,338 
Texas Instruments, Inc. (b)   136,676    21,732,851 
         135,138,693 
Materials - 2.2%          
Ashland, Inc.   185,274    15,133,180 
Freeport-McMoRan, Inc. (b)   603,024    22,486,765 
         37,619,945 

 

 

Diamond Hill Long-Short Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Common Stocks - 85.6% (Continued)  Shares   Fair Value 
Utilities - 1.5%        
Dominion Energy, Inc. (b)   568,790   $25,407,849 
           
Total Common Stocks (Cost $1,015,834,771)       $1,467,085,385 

 

Treasury - 6.9%  Coupon   Maturity   Shares / Par Value   Fair Value 
U.S. Treasury Notes   2.000%   06/30/24   $40,000,000   $38,982,812 
U.S. Treasury Notes   3.000%   06/30/24    40,000,000    39,271,875 
U.S. Treasury Notes   3.000%   07/31/24    40,000,000    39,185,938 
Total Treasury (Cost $118,775,581)                 $117,440,625 

 

Registered Investment Companies - 13.6%  Shares   Fair Value 
State Street Institutional Liquid Reserves Fund -
Premier Class, 5.45% (d)
   118,673,251   $118,708,853 
State Street Navigator Securities Lending Portfolio I, 5.25% (d)(e)   114,376,198    114,376,198 
Total Registered Investment Companies (Cost $233,072,752)       $233,085,051 
           
Total Investment Securities - 106.1% (Cost $1,367,683,104)       $1,817,611,061 
           
Segregated Cash With Custodian - 29.2%        500,852,914 
           
Investments Sold Short - (28.6)% (Proceeds $546,829,014)        (489,296,373)
           
Liabilities in Excess of Other Assets - (6.7)%        (115,357,461)
           
Net Assets - 100.0%       $1,713,810,141 

 

(a) Non-income producing security.
(b) All or a portion of the security is on loan.  The total fair value of the securities on loan as of September 30, 2023 was $111,963,822.
(c) All or a portion of the shares have been pledged as collateral for open short positions.
(d) The rate shown is the 7-day effective yield as of September 30, 2023.
(e) This security was purchased using cash collateral held from securities on loan. 

 

ADR - American Depositary Receipt
plc - Public Limited Company

 

 

Diamond Hill Long-Short Fund

Schedule of Investments Sold Short

September 30, 2023 (Unaudited)

 

Common Stocks - 28.6%  Shares   Fair Value 
Communication Services - 0.2%        
Cogent Communications Holdings, Inc.   40,165   $2,486,214 
           
Consumer Discretionary - 7.5%          
Acushnet Holdings Corp.   344,585    18,276,788 
Best Buy Co., Inc.   74,751    5,192,952 
Canada Goose Holdings, Inc.   791,115    11,597,746 
Choice Hotels International, Inc.   148,635    18,209,274 
Dick's Sporting Goods, Inc.   81,686    8,869,466 
Etsy, Inc.   90,925    5,871,937 
GameStop Corp., Class A   496,170    8,166,958 
Garmin Ltd.   130,260    13,703,352 
Grand Canyon Education, Inc.   107,255    12,535,964 
SeaWorld Entertainment, Inc.   173,730    8,035,013 
Shake Shack, Inc., Class A   147,807    8,583,152 
Tesla, Inc.   39,657    9,922,975 
         128,965,577 
Consumer Staples - 4.4%          
Brown-Forman Corp., Class B   305,110    17,601,796 
Clorox Co. (The)   87,165    11,423,845 
e.l.f. Beauty, Inc.   75,525    8,294,911 
J.M. Smucker Co. (The)   80,310    9,870,902 
WD-40 Co.   137,938    28,034,519 
         75,225,973 
Financials - 2.5%          
Bank of Hawaii Corp.   165,905    8,243,819 
Blackstone Mortgage Trust, Inc., Class A   172,600    3,754,050 
Commerce Bancshares, Inc.   357,395    17,147,812 
First Financial Bankshares, Inc.   169,896    4,267,788 
Palomar Holdings, Inc.   176,935    8,979,451 
         42,392,920 
Health Care - 1.6%          
AMN Healthcare Services, Inc.   83,015    7,071,218 
CONMED Corp.   62,640    6,317,244 
Penumbra, Inc.   60,245    14,573,868 
         27,962,330 

 

 

Diamond Hill Long-Short Fund

Schedule of Investments Sold Short (Continued)

September 30, 2023 (Unaudited)

 

Common Stocks - 28.6% (Continued)  Shares   Fair Value 
Industrials - 3.9%        
Avis Budget Group, Inc.   28,815   $5,177,767 
CBIZ, Inc.   158,455    8,223,814 
Cintas Corp.   12,484    6,004,929 
Mueller Industries, Inc.   168,815    12,688,135 
Robert Half, Inc.   133,355    9,772,254 
United Parcel Service, Inc., Class B   129,770    20,227,250 
W.W. Grainger, Inc.   6,175    4,272,112 
         66,366,261 
Information Technology - 6.8%          
Alarm.com Holdings, Inc.   337,425    20,630,164 
Asana, Inc., Class A   554,910    10,160,402 
Badger Meter, Inc.   129,974    18,699,359 
F5, Inc.   34,682    5,588,657 
International Business Machines Corp.   157,330    22,073,399 
NetScout Systems, Inc.   189,485    5,309,370 
Oracle Corp.   93,995    9,955,950 
Teradata Corp.   544,085    24,494,707 
         116,912,008 
Materials - 0.3%          
Silgan Holdings, Inc.   127,370    5,490,921 
           
Utilities - 1.4%          
Ormat Technologies, Inc.   336,015    23,494,169 
           
Total Investments Sold Short - 28.6% (Proceeds $546,829,014)       $489,296,373 

 

Percentages disclosed are based on total net assets of the Fund at September 30, 2023.

 

 

Diamond Hill International Fund

Schedule of Investments

September 30, 2023 (Unaudited)

 

Common Stocks - 96.3%  Shares   Fair Value 
Brazil - 1.5%
Ambev SA   383,854   $1,001,903 
           
Canada - 8.6%
Canadian Natural Resources Ltd. (a)   26,428    1,709,150 
Capstone Copper Corp. (a)(b)   35,033    148,567 
Cenovus Energy, Inc. (a)   20,178    420,127 
Fairfax Financial Holdings Ltd.   2,974    2,427,761 
First Quantum Minerals Ltd. (a)   7,073    167,108 
Imperial Oil Ltd. (a)   11,416    703,162 
         5,575,875 
China - 4.1%
Alibaba Group Holding Ltd. (b)   80,200    869,567 
Fu Shou Yuan International Group Ltd.   860,000    597,850 
Tencent Holdings Ltd.   31,500    1,221,097 
         2,688,514 
Finland - 1.0%
Konecranes OYJ   19,193    636,200 
           
France - 3.6%
Safran SA   9,558    1,497,748 
Ubisoft Entertainment SA (b)   25,840    837,348 
         2,335,096 
Germany - 2.6%
Vitesco Technologies Group AG (b)   20,727    1,677,297 
           
India - 3.8%
Fusion Micro Finance Ltd. (b)   39,288    280,699 
HDFC Bank Ltd. - ADR   37,555    2,216,121 
         2,496,820 
Ireland - 1.3%
ICON plc (b)   3,449    849,316 
           
Israel - 2.6%
Check Point Software Technologies Ltd. (b)   12,796    1,705,451 

 

 

Diamond Hill International Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Common Stocks - 96.3% (Continued)  Shares   Fair Value 
Italy - 0.7%
doValue SpA   124,556   $485,249 
           
Japan - 4.8%          
Astellas Pharma, Inc.   99,400    1,375,849 
Japan Petroleum Exploration Co. Ltd.   33,500    1,255,357 
Shionogi & Co. Ltd.   11,700    521,869 
         3,153,075 
Korea (Republic of) - 3.2%          
Samsung Electronics Co. Ltd.   41,071    2,072,638 
           
Mexico - 3.1%          
Fomento Economico Mexicano SAB de CV (a)   125,842    1,371,549 
Wal-Mart de Mexico SAB de CV   173,550    654,932 
         2,026,481 
Netherlands - 4.4%          
EXOR NV (a)   22,166    1,960,449 
uniQure NV (a)(b)   24,908    167,133 
Universal Music Group NV (a)   27,153    708,552 
         2,836,134 
Peru - 1.4%          
Credicorp Ltd.   7,126    911,914 
           
Poland - 1.8%          
Dino Polska SA (b)   14,841    1,202,892 
           
Sweden - 4.0%          
Assa Abloy AB, Class B   67,144    1,459,024 
Epiroc AB, Class B   72,601    1,161,484 
         2,620,508 
Switzerland - 12.0%          
Compagnie Financiere Richemont SA, Class A   11,273    1,372,803 
Nestlé SA   15,049    1,703,412 
Novartis AG - ADR (a)   20,129    2,050,340 
Roche Holdings AG   5,119    1,397,432 

 

 

Diamond Hill International Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Common Stocks - 96.3% (Continued)  Shares   Fair Value 
Switzerland - 12.0% (Continued)
Swatch Group AG (The)   5,037   $1,290,031 
         7,814,018 
Taiwan Province of China - 1.1%          
Taiwan Semiconductor Manufacturing Co. Ltd. - ADR   8,567    744,472 
           
United Kingdom - 22.8%          
Ashmore Group plc   573,812    1,309,815 
Beazley plc   109,196    734,217 
Bunzl plc   45,397    1,616,650 
Compass Group plc   68,706    1,672,301 
Diageo plc   39,211    1,445,539 
GSK plc   65,395    1,183,164 
Howden Joinery Group plc   170,528    1,525,704 
Smith & Nephew plc   113,864    1,413,023 
Tesco plc   612,935    1,971,365 
Unilever plc   40,012    1,980,785 
         14,852,563 
United States - 7.9%          
Aurinia Pharmaceuticals, Inc. (a)(b)   28,574    222,020 
Energy Recovery, Inc. (b)   30,516    647,244 
Ferguson plc   6,427    1,057,622 
Freeport-McMoRan, Inc.   19,334    720,965 
Spotify Technology SA (b)   16,224    2,508,879 
         5,156,730 
           
Total Common Stocks (Cost $64,848,317)       $62,843,146 

 

Warrants - 0.0% (c)  Shares   Fair Value 
Switzerland - 0.0%(c)        
Compagnie Financiere Richemont SA (Cost $0) (b)   8,320   $6,179 

 

 

Diamond Hill International Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Registered Investment Companies - 10.2% (Continued)  Shares   Fair Value 
State Street Institutional Liquid Reserves Fund -
Premier Class, 5.45% (d)
   3,826,877   $3,828,025 
State Street Navigator Securities Lending Portfolio I, 5.25% (d)(e)   2,811,244    2,811,244 
Total Registered Investment Companies (Cost $6,638,880)       $6,639,269 
           
Total Investment Securities - 106.5% (Cost $71,487,197)       $69,488,594 
           
Liabilities in Excess of Other Assets - (6.5)%        (4,250,293)
           
Net Assets - 100.0%       $65,238,301 

 

(a) All or a portion of the security is on loan.  The total fair value of the securities on loan as of September 30, 2023 was $2,937,457.
(b) Non-income producing security.
(c) Percentage rounds to less than 0.1%.
(d) The rate shown is the 7-day effective yield as of September 30, 2023.
(e) This security was purchased using cash collateral held from securities on loan. Securities on loan are also collateralized by various U.S. Treasury and government agency securities in the amount of $287,986.

 

AB - Aktiebolag
ADR - American Depositary Receipt
AG - Aktiengesellschaft
NV - Naamloze Vennootschap
OYJ - Julkinen Osakeyhtio
plc - Public Limited Company
SA - Societe Anonyme
SAB de CV- Societe Anonima Bursatil de Capital Variable
SpA - Societa per Azioni

 

 

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments

September 30, 2023 (Unaudited)

 

Corporate Credit - 4.7%  Coupon   Maturity   Shares / Par Value   Fair Value 
Banking - 2.8%        
American Express Co.   2.550%   03/04/27   $500,000   $450,810 
Bank of America Corp. (1* TSFR3M + 90) (a)   2.015%   02/13/26    6,600,000    6,210,156 
Bank of America Corp. (1* SOFR + 115) (a)(b)   1.319%   06/19/26    776,000    711,650 
Capital One Financial Corp. (a)   1.343%   12/06/24    1,700,000    1,679,481 
Capital One Financial Corp.   2.636%   03/03/26    1,000,000    943,768 
Citigroup, Inc. (1* SOFR + 53) (a)   1.281%   11/03/25    2,750,000    2,597,266 
Discover Bank   3.450%   07/27/26    801,000    728,457 
Discover Financial Services   3.750%   03/04/25    1,949,000    1,871,457 
Fifth Third Bancorp   1.707%   11/01/27    1,200,000    1,036,748 
Goldman Sachs Group, Inc.   1.217%   12/06/23    1,000,000    991,713 
Goldman Sachs Group, Inc. (a)   0.925%   10/21/24    5,000,000    4,960,505 
Huntington National Bank   5.699%   11/18/25    1,300,000    1,270,635 
JPMorgan Chase & Co.   0.768%   08/09/25    3,000,000    2,857,452 
JPMorgan Chase & Co.   1.561%   12/10/25    3,700,000    3,496,803 
JPMorgan Chase & Co. (b)   1.470%   09/22/27    1,600,000    1,401,738 
Morgan Stanley (a)   0.791%   01/22/25    3,800,000    3,726,432 
Morgan Stanley   0.790%   05/30/25    2,000,000    1,921,081 
Royal Bank of Canada   0.750%   10/07/24    2,000,000    1,897,362 
Royal Bank of Canada   4.950%   04/25/25    900,000    886,966 
Toronto-Dominion Bank (The)   0.700%   09/10/24    900,000    857,124 
Toronto-Dominion Bank (The)   1.250%   12/13/24    500,000    473,344 
Truist Financial Corp.   5.602%   06/09/25    800,000    782,231 
Wells Fargo & Co. (1* SOFR + 200) (a)   2.188%   04/30/26    1,675,000    1,572,714 
                   43,325,893 
Communications - 0.0% (c)                    
Fox Corp.   4.030%   01/25/24    450,000    446,809 
                     
Consumer Cyclical - 0.4%                    
General Motors Financial Co.   1.250%   01/08/26    3,700,000    3,306,965 
Honda Motor Co.   2.271%   03/10/25    900,000    857,629 
Hyundai Capital America (d)   5.650%   06/26/26    900,000    892,335 
Mercedes-Benz Financing (d)   2.700%   06/14/24    1,000,000    978,516 
                   6,035,445 
Consumer Non-Cyclical - 0.2%                    
Baxter International, Inc.   0.868%   12/01/23    1,800,000    1,785,698 

 

 

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Corporate Credit - 4.7% (Continued)  Coupon   Maturity   Shares / Par Value   Fair Value 
Consumer Non-Cyclical - 0.2% (Continued)        
Mondelez International, Inc. (d)   0.750%   09/24/24   $300,000   $285,436 
Pfizer, Inc.   4.450%   05/19/26    900,000    879,217 
                   2,950,351 
Electric - 0.2%                    
DTE Energy Co.   1.050%   06/01/25    500,000    461,249 
WEC Energy Group, Inc.   0.800%   03/15/24    2,750,000    2,685,438 
                   3,146,687 
Energy - 0.2%                    
Devon Energy Corp.   5.250%   09/15/24    1,000,000    992,402 
Energy Transfer Operating, LP   4.500%   04/15/24    925,000    917,070 
Energy Transfer Operating, LP   5.500%   06/01/27    1,000,000    984,298 
TransCanada Pipeline Ltd.   1.000%   10/12/24    750,000    712,486 
                   3,606,256 
Insurance - 0.8%                    
Athene Global Funding (d)   2.500%   01/14/25    1,450,000    1,370,383 
Equitable Financial Life (d)   1.100%   11/12/24    3,050,000    2,879,619 
Met Life Global Funding I (d)   0.700%   09/27/24    1,200,000    1,140,342 
New York Life Global Funding (d)   0.900%   10/29/24    800,000    757,994 
Principal Life Global Funding II (d)   0.750%   08/23/24    1,265,000    1,205,659 
Protective Life Global Funding (d)   0.473%   01/12/24    2,945,000    2,901,254 
Protective Life Global Funding (d)   0.781%   07/05/24    1,700,000    1,633,600 
                   11,888,851 
Technology - 0.0% (c)                    
Dell International, LLC / EMC Corp.   4.900%   10/01/26    300,000    292,696 
                     
Transportation - 0.1%                    
Alaska Airlines Pass-Through Trust,
Series 2020-1B, Class A (d)
   4.800%   02/15/29    382,418    366,685 
American Airlines Pass-Through Trust,
Series 2016-2, Class AA
   3.200%   12/15/29    1,394,000    1,253,834 

 

 

 

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Corporate Credit - 4.7% (Continued)  Coupon   Maturity   Shares / Par Value   Fair Value 
Transportation - 0.1% (Continued)        
United Airlines Pass-Through Trust,
Series 2020-1, Class A
   5.875%   04/15/29   $819,400   $812,401 
                   2,432,920 
                     
Total Corporate Credit (Cost $76,419,611)                 $74,125,908 

 

Securitized - 81.8%  Coupon   Maturity   Shares / Par Value   Fair Value 
ABS-Other - 5.0%        
BXG Receivables Note Trust,
Series 2018-A, Class C (d)
   4.440%   02/02/34   $491,407   $464,145 
Cascade Funding Mortgage Trust,
Series 2021-GRN1, Class B (d)
   1.830%   03/20/41    3,588,000    3,064,507 
Diamond Resorts Owner Trust,
Series 2019-1, Class B (d)
   3.530%   02/20/32    178,105    178,009 
Diamond Resorts Owner Trust,
Series 2019-1A, Class D (d)
   5.250%   02/20/32    350,511    350,373 
Diamond Resorts Owner Trust,
Series 2021-1A, Class B (d)
   2.050%   11/21/33    1,052,588    969,123 
Diamond Resorts Owner Trust,
Series 2021-1A, Class C (d)
   2.700%   11/21/33    565,390    517,401 
Diamond Resorts Owner Trust,
Series 2021-1A, Class D (d)
   3.830%   11/21/33    300,739    271,386 
FMC GMSR Issuer Trust,
Series 2020-GT1, Class A (a)(d)
   4.450%   01/25/26    8,850,000    7,663,001 
FMC GMSR Issuer Trust,
Series 2021-GT1, Class A (a)(d)
   3.620%   07/25/26    9,900,000    8,118,050 
FMC GMSR Issuer Trust,
Series 2021-GT2, Class A (d)
   3.850%   10/25/26    14,280,000    11,718,389 
FMC GMSR Issuer Trust,
Series 2022-GT2, Class A (d)
   7.900%   07/25/27    4,850,000    4,761,987 
Gold Key Resorts, LLC,
Series 2014-A, Class A (d)
   3.220%   03/17/31    4,491    4,466 
Helios Issuer, LLC, Series 2020-4, Class A (d)   2.980%   06/20/47    1,496,656    1,331,371 
Helios Issuer, LLC, Series 2021-A, Class A (d)   1.800%   02/20/48    1,050,656    883,639 

 

 

 

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Securitized - 81.8% (Continued)  Coupon   Maturity   Shares / Par Value   Fair Value 
ABS-Other - 5.0% (Continued)        
Helios Issuer, LLC, Series 2022-C, Class C (d)   6.000%   11/22/49   $2,845,216   $2,399,217 
Helios Issuer, LLC, Series 2023-B, Class C (d)   6.000%   08/22/50    985,285    854,605 
Hero Funding Trust, Series 2016-4B, Class B (d)   4.990%   09/20/47    182,128    177,434 
Holiday Inn Timeshare Trust,
Series 2020-A, Class C (d)
   3.420%   10/09/39    774,051    711,796 
Holiday Inn Timeshare Trust,
Series 2020-A, Class D (d)
   5.500%   10/09/39    360,024    332,421 
Holiday Inn Timeshare Trust,
Series 2020-A, Class E (d)
   6.500%   10/09/39    2,052,135    1,888,666 
Loanpal Solar Loan Ltd.,
Series 2021-1GS, Class A (d)
   2.290%   01/20/48    2,430,886    1,825,130 
Loanpal Solar Loan Ltd.,
Series 2021-2GS, Class A (d)
   2.220%   03/20/48    1,854,263    1,336,096 
Mosaic Solar Loans, LLC,
Series 2017-2, Class B (d)
   4.770%   06/22/43    372,103    328,549 
Mosaic Solar Loans, LLC,
Series 2020-1, Class A (d)
   2.100%   04/20/46    1,370,619    1,155,294 
Mosaic Solar Loans, LLC,
Series 2020-1A, Class B (d)
   3.100%   04/20/46    1,096,495    934,794 
Mosaic Solar Loans, LLC,
Series 2021-1, Class D (d)
   3.710%   12/20/46    606,807    509,712 
Mosaic Solar Loans, LLC,
Series 2023-2A, Class C (d)
   8.180%   09/22/53    11,000,000    9,764,516 
MVW Own Trust, Series 2021-1W, Class D (d)   3.170%   01/22/41    1,030,459    918,440 
PNMAC GMSR Issuer Trust, Series 2022-GT1, Class A (1* SOFR + 425) (a)(d)   9.565%   05/25/27    3,625,000    3,627,319 
Renew Financial, LLC, Series 2017-1, Class A (d)   3.670%   09/20/52    956,458    846,355 
Renew Financial, LLC, Series 2017-1, Class B (d)   5.750%   09/20/52    275,741    261,237 
Sierra Receivables Funding,
Series 2022-2A, Class D (d)
   9.220%   06/20/40    738,651    728,980 
SPS Servicer Advance Receivables,
Series 2020-T2, Class B (d)
   2.130%   11/15/55    2,213,000    1,952,169 

 

 

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Securitized - 81.8% (Continued)  Coupon   Maturity   Shares / Par Value   Fair Value 
ABS-Other - 5.0% (Continued)        
SPS Servicer Advance Receivables, Series 2020-T2, Class D (d)   3.160%   11/15/55   $3,000,000   $2,554,303 
Westgate Resorts, Series 2020-1A, Class C (d)   6.213%   03/20/34    598,304    591,000 
Westgate Resorts, Series 2023-1A, Class D (d)   10.140%   12/20/37    4,873,164    4,840,929 
                   78,834,809 
Agency MBS CMO - 2.4%                    
FHLMC, Series 2979, Class FP
(1* SOFR + 45) (a)
   5.878%   05/15/35    251,184    246,189 
FHLMC, Series 3121, Class FM
(1* SOFR + 40) (a)
   5.828%   03/15/36    226,670    221,881 
FHLMC, Series 4613, Class AF
(1* SOFR + 110) (a)
   6.528%   11/15/37    410,890    405,565 
FHLMC, Series 3925, Class FL
(1* SOFR + 45) (a)
   5.878%   01/15/41    47,068    46,728 
FHLMC, Series 3895, Class BF
(1* SOFR + 50) (a)
   5.928%   07/15/41    185,838    182,169 
FHLMC, Series 4314, Class PF
(1* SOFR + 40) (a)
   5.828%   07/15/43    78,957    77,910 
FHLMC, Series 5171, Class UK   2.000%   12/25/51    1,163,171    562,010 
FNMA, Series 2006-56, Class DC
(1* SOFR + 65) (a)
   6.079%   07/25/36    457,329    457,883 
FNMA, Series 2006-108, Class FD
(1* SOFR + 38) (a)
   5.809%   11/25/36    200,329    196,101 
FNMA, Series 2010-136, Class FA
(1* SOFR + 50) (a)
   5.929%   12/25/40    192,774    187,477 
FNMA, Series 2011-86, Class KF
(1* SOFR + 55) (a)
   5.979%   09/25/41    324,351    316,857 
FNMA, Series 2011-127, Class ZU   3.500%   12/25/41    4,530,751    3,985,770 
FNMA, Series 2012-9, Class FC
(1* SOFR + 40) (a)
   5.829%   02/25/42    139,966    136,839 
FNMA, Series 2012-33, Class F
(1* SOFR + 52) (a)
   5.949%   04/25/42    97,442    95,701 
FNMA, Series 2013-34, Class GP   3.000%   05/25/42    2,215,215    2,040,878 
FNMA, Series 2017-28, Class LK   4.000%   03/25/53    1,006,026    972,957 
GNMA, Series 2023-81, Class MV   5.500%   05/20/34    9,892,712    9,670,704 

 

 

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Securitized - 81.8% (Continued)  Coupon   Maturity   Shares / Par Value   Fair Value 
Agency MBS CMO - 2.4% (Continued)        
GNMA, Series 2023-81, Class QV   5.500%   05/20/34   $6,767,511   $6,675,806 
GNMA, Series 2023-67, Class AC   6.000%   05/20/53    8,970,648    8,944,168 
GNMA, Series 2012-H29, Class SA
(1* TSFR1M + 63) (a)
   5.947%   10/20/62    434,345    432,247 
GNMA, Series 2012-H23, Class SA
(1* TSFR1M + 64) (a)
   5.962%   10/20/62    2,461,276    2,451,411 
GNMA, Series 2016-H11, Class FD
(1* TSFR12M + 112) (a)
   4.869%   05/20/66    72,290    71,607 
                   38,378,858 
Agency MBS CMO Derivatives - 0.0% (c)                    
FHLMC, Series 237, Class S14 (IO)
(-1* SOFR + 660) (a)
   1.172%   05/15/36    420,844    37,238 
FNMA, Series 2012-148, Class IA (IO)   4.000%   01/25/28    1,168,958    51,716 
FNMA, Series 301, Class I (PO)   0.000%   04/25/29    141,061    126,853 
FNMA, Series 2010-44, Class CS (IO)
(-1* SOFR + 655) (a)
   1.121%   05/25/40    264,686    19,292 
FNMA, Series 2014-45, Class IO (IO)   4.000%   08/25/44    380,581    44,185 
GNMA, Series 2015-16, Class IL (IO)   4.000%   03/20/42    761,246    21,246 
GNMA, Series 2013-H13, Class T1 (IO) (a)   0.460%   05/20/63    11,535,548    49,588 
GNMA, Series 2016-H20, Class GI (IO) (a)   0.000%   08/20/66    8,382,861    7,921 
GNMA, Series 2018-H08, Class NI (IO) (a)   0.819%   05/20/68    6,532,297    35,552 
GNMA, Series 2019-H04, Class IO (IO) (a)   1.544%   03/20/69    14,311,204    226,647 
                   620,238 
Agency MBS Passthrough - 4.5%                    
FHLMC, Pool #FG G60257   5.500%   06/01/41    356,909    356,856 
FHLMC, Pool #FR QG9457   6.500%   08/01/53    14,023,955    14,091,559 
FNMA, Pool #FN BP6608   2.205%   08/01/50    2,182,280    1,982,144 
FNMA, Pool #BM7138   1.694%   10/01/51    8,313,497    7,287,729 
GNMA, Pool #G2 CM7497C   5.000%   08/20/52    6,372,275    5,943,169 
GNMA, Pool #G2 CW0334C   7.000%   07/20/63    6,031,017    6,156,176 
GNMA, Series 2023-112, Class ET   7.000%   08/20/63    33,071,705    34,245,090 
                   70,062,723 
Auto Loan - 6.1%                    
ACM Auto Trust, Series 2023-1A, Class C (d)   8.590%   01/22/30    4,000,000    3,989,990 
ACM Auto Trust, Series 2023-2A, Class A (d)   7.970%   06/20/30    3,322,594    3,325,440 

 

 

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Securitized - 81.8% (Continued)  Coupon   Maturity   Shares / Par Value   Fair Value 
Auto Loan - 6.1% (Continued)        
American Credit Acceptance Receivables Trust, Series 2020-3, Class F (d)   5.940%   06/14/27   $6,750,000   $6,667,869 
American Credit Acceptance Receivables Trust, Series 2020-4, Class F (d)   5.220%   08/13/27    2,800,000    2,771,911 
Arivo Acceptance Auto Loan Receivables Trust, Series 2021-1A, Class A (d)   1.190%   01/15/27    1,606,058    1,570,641 
Arivo Acceptance Auto Loan Receivables Trust, Series 2021-1A, Class B (d)   2.020%   02/16/27    2,223,000    2,094,888 
Arivo Acceptance Auto Loan Receivables Trust, Series 2022-2A, Class C (d)   9.840%   03/15/29    7,400,000    7,562,426 
CarNow Auto Receivables Trust,
Series 2021-1A, Class C (d)
   2.160%   02/17/26    220,376    218,715 
CarNow Auto Receivables Trust,
Series 2021-1A, Class D (d)
   3.640%   02/17/26    2,250,000    2,217,721 
CarNow Auto Receivables Trust,
Series 2023-1A, Class B (d)
   6.950%   03/16/26    3,000,000    2,986,509 
CarNow Auto Receivables Trust,
Series 2021-1A, Class E (d)
   5.120%   07/15/27    2,500,000    2,444,544 
CarNow Auto Receivables Trust,
Series 2023-1A, Class D (d)
   7.990%   02/15/28    3,500,000    3,436,078 
Chase Auto Credit Linked Notes,
Series 2021-3, Class D (d)
   1.009%   02/26/29    901,612    858,217 
Chase Auto Credit Linked Notes,
Series 2021-3, Class E (d)
   2.102%   02/26/29    751,343    713,907 
Credit Acceptance Auto Loan Trust,
Series 2023-3A, Class C (d)
   7.620%   12/15/33    7,000,000    6,959,023 
Credito Real USA Auto Receivable,
Series 2021-1, Class A (d)
   1.350%   02/16/27    536,982    532,485 
FHF Trust, Series 2021-2A, Class A (d)   0.830%   12/15/26    2,243,411    2,150,192 
FHF Trust, Series 2021-1, Class A (d)   1.270%   03/15/27    694,034    670,545 
FHF Trust, Series 2021-2A, Class B (d)   1.630%   09/15/27    10,900,000    9,820,013 
First Help Financial, LLC,
Series 2023-1A, Class C (d)
   7.880%   07/15/30    12,907,000    12,480,355 
JPMorgan Chase Bank, NA,
Series 2021-2, Class E (d)
   2.280%   12/26/28    422,990    412,269 

 

 

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Securitized - 81.8% (Continued)  Coupon   Maturity   Shares / Par Value   Fair Value 
Auto Loan - 6.1% (Continued)        
Lobel Automobile Receivables Trust,
Series 2023-1, Class A (d)
   6.970%   07/15/26   $3,395,651   $3,395,828 
OneMain Direct Auto Receivables,
Series 2019-1, Class D (d)
   4.680%   04/14/31    5,500,000    5,140,815 
Veros Auto Receivables Trust,
Series 2021-1, Class B (d)
   1.490%   10/15/26    4,373,032    4,288,790 
Veros Auto Receivables Trust,
Series 2021-1, Class C (d)
   3.640%   08/15/28    5,000,000    4,704,874 
Veros Auto Receivables Trust,
Series 2023-1, Class A (d)
   7.120%   11/15/28    4,971,246    4,979,470 
                   96,393,515 
CRE/CLO - 8.8%                    
A10 Securitization, Series 2021-D, Class D (d)   4.409%   10/01/38    7,546,818    6,594,082 
A10 Securitization, Series 2021-D, Class E (d)   4.937%   10/01/38    3,575,985    3,071,640 
A10 Securitization, Series 2020-C, Class C (d)   3.363%   08/15/40    1,844,654    1,818,637 
A10 Securitization, Series 2019-B, Class C (d)   3.781%   08/15/40    1,936,889    1,933,809 
A10 Securitization, Series 2020-C, Class D (d)   4.129%   08/15/40    11,991,000    11,801,830 
A10 Securitization, Series 2020-C, Class E (d)   5.465%   08/15/40    1,050,000    945,562 
Acre Commercial Mortgage Trust, Series 2021-FL4, Class D (1* TSFR1M + 271) (a)(d)   8.045%   12/18/37    6,000,000    5,670,492 
Acre Commercial Mortgage Trust, Series 2021-FL4, Class E (1* TSFR1M + 321) (a)(d)   8.545%   12/18/37    2,000,000    1,855,862 
ACREC, Series 2021-FL1, Class E
(1* TSFR1M + 311) (a)(d)
   8.445%   10/16/36    3,000,000    2,787,822 
AREIT CRE Trust, Series 2021-CRE5, Class A (1* TSFR1M + 119) (a)(d)   6.508%   11/17/38    1,690,916    1,664,384 
Bancorp Commercial Mortgage Trust (The), Series 2017-CRE2, Class D
(1* Prime + 375) (a)(d)
   9.193%   08/15/32    273,383    271,247 
BDS Ltd., Series 2021-FL8, Class D
(1* TSFR1M + 201) (a)(d)
   7.345%   01/18/36    2,750,000    2,640,781 
BrightSpire Capital, Inc., Series 2021-FL1, Class A (1* TSFR1M + 126) (a)(d)   6.592%   08/19/38    7,950,000    7,759,494 
BXMT Ltd., Series 2020-FL2, Class A
(1* TSFR1M + 101) (d)
   6.347%   02/15/38    9,031,779    8,511,784 

 

 

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Securitized - 81.8% (Continued)  Coupon   Maturity   Shares / Par Value   Fair Value 
CRE/CLO - 8.8% (Continued)                
BXMT Ltd., Series 2020-FL2, Class D
(1* TSFR1M + 206) (a)(d)(e)
   7.378%   02/15/38   $4,725,000   $3,805,907 
BXMT Ltd., Series 2020-FL2, Class E
(1* TSFR1M + 216) (a)(d)(e)
   7.478%   02/15/38    3,500,000    2,771,902 
BXMT Ltd., Series 2020-FL2, Class B
(1* TSFR1M + 151) (d)
   6.828%   02/18/38    5,100,000    4,442,350 
BXMT Ltd., Series 2021-FL4, Class D
(1* TSFR1M + 236) (a)(d)(e)
   7.697%   05/15/38    8,250,000    6,568,188 
FS Rialto Issuer Ltd., Series 2021-FL2, Class A (1* TSFR1M + 133) (d)   6.665%   05/16/38    9,416,267    9,254,232 
FS Rialto Issuer Ltd., Series 2021-FL2, Class AS (1* TSFR1M + 166) (d)   6.995%   05/16/38    1,586,500    1,501,890 
HERA Commerical Mortgage Ltd.,
Series 2021-FL1, Class C
(1* TSFR1M + 206) (d)
   7.376%   02/18/38    10,000,000    9,476,940 
KKR Financial Management,
Series 2021-FL2, Class A (d)
   6.517%   02/15/39    4,500,000    4,439,340 
KKR Real Estate Finance Trust, Series 2021-FL2, Class A-S (1* TSFR1M + 141) (d)   6.747%   02/15/39    2,250,000    2,145,987 
LoanCore Issuer Ltd., Series 2019-CRE3,
Class D (1* TSFR1M + 261) (a)(d)(e)
   7.925%   04/15/34    11,250,000    10,806,750 
LoanCore Issuer Ltd., Series 2021-CRE6,
Class A (1* TSFR1M + 141) (d)
   6.747%   11/15/38    4,320,000    4,222,433 
MF1 Multifamily Housing Mortgage Trust, Series 2021-FL5, Class AS
(1* TSFR1M + 131) (a)(d)
   6.647%   07/15/36    1,904,000    1,858,032 
MF1 Multifamily Housing Mortgage Trust, Series 2021-FL5, Class D (d)   7.947%   07/15/36    500,000    487,399 
MF1 Multifamily Housing Mortgage Trust, Series 2022-FL8, Class E (d)   8.480%   02/19/37    300,000    277,472 
MF1 Multifamily Housing Mortgage Trust, Series 2022-FL10, Class D
(1* TSFR1M + 573) (a)(d)
   11.056%   09/17/37    1,250,000    1,238,784 
PFP Ltd., Series 2021-8, Class A
(1* TFSR1M + 111) (a)(d)
   6.446%   08/09/37    2,682,552    2,643,513 

 

 

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Securitized - 81.8% (Continued)  Coupon   Maturity   Shares / Par Value   Fair Value 
CRE/CLO - 8.8% (Continued)        
PFP Ltd., Series 2021-8, Class C
(1* TFSR1M + 191) (a)(d)
   7.246%   08/09/37   $2,000,000   $1,920,796 
PFP Ltd., Series 2021-7, Class A-S
(1* TFSR1M + 126) (d)
   6.597%   04/14/38    2,454,464    2,430,034 
PFP Ltd., Series 2021-7, Class D
(1* TSFR1M + 251) (a)(d)
   7.847%   04/14/38    2,499,875    2,384,673 
PFP Ltd., Series 2021-7, Class E
(1* TFSR1M + 311) (d)
   8.447%   04/14/38    2,249,888    2,140,194 
Shelter Growth Capital Partners, LLC, Series 2021-FL3, Class A
(1* TSFR1M + 119) (a)(d)
   6.527%   09/15/36    1,058,806    1,036,030 
Shelter Growth Capital Partners, LLC, Series 2021-FL3, Class C
(1* TSFR1M + 226) (a)(d)
   7.597%   09/15/36    2,000,000    1,902,188 
Starwood Commercial Mortgage Trust, Series 2019-FL1, Class AS
(1* TSFR1M + 151) (d)
   6.847%   07/15/38    1,367,000    1,325,990 
TPG Real Estate Finance,
Series 2019-FL3, Class C (d)
   7.547%   10/17/34    2,750,000    2,695,025 
                   139,103,475 
Credit Cards - 10.1%                    
Brex Commercial Charge Card Master Trust, Series 2022-1, Class A (d)   4.630%   07/15/25    5,000,000    4,919,182 
Continental Credit Card, LLC, Series 2019-1, Class B (d)   4.950%   08/15/26    6,969,579    6,905,542 
Continental Credit Card, LLC, Series 2019-1, Class C (d)   6.160%   08/15/26    3,000,000    2,891,419 
Continental Credit Card, LLC, Series 2020-A, Class A (d)   2.240%   12/15/28    3,600,000    3,497,390 
Continental Credit Card, LLC, Series 2020-A, Class B (d)   3.660%   12/15/28    9,200,000    8,592,230 
Continental Credit Card, LLC, Series 2021-A, Class B (d)   3.490%   12/17/29    6,700,000    6,133,501 
Continental Credit Card, LLC, Series 2021-A, Class C (d)   4.020%   12/17/29    6,900,000    6,005,668 
Continental Credit Card, LLC, Series 2021-A, Class D (d)   6.010%   12/17/29    16,210,000    13,622,103 

 

 

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Securitized - 81.8% (Continued)  Coupon   Maturity   Shares / Par Value   Fair Value 
Credit Cards - 10.1% (Continued)        
Continental Credit Card, LLC,
Series 2022-A, Class C (d)
   9.330%   10/15/30   $4,100,000   $3,866,111 
Continental Credit Card, LLC,
Series 2022-A, Class D (d)
   12.420%   10/15/30    5,000,000    4,641,640 
Genesis Private Label Amortization Trust, Series 2020-1, Class D (d)   6.630%   07/20/30    6,157,258    6,103,878 
Genesis Private Label Amortization Trust, Series 2020-1, Class E (d)   9.760%   07/20/30    2,625,000    2,552,358 
Genesis Sales Finance Master Trust,
Series 2021-AA, Class D (d)
   2.090%   12/21/26    2,350,000    2,071,945 
Genesis Sales Finance Master Trust,
Series 2021-AA, Class E (d)
   3.770%   12/21/26    6,000,000    5,140,712 
Genesis Sales Finance Master Trust,
Series 2021-AA, Class F (d)
   5.590%   12/21/26    4,000,000    3,299,120 
Genesis Sales Finance Master Trust,
Series 2022-B, Class C (d)
   9.530%   09/20/27    5,000,000    4,979,645 
Genesis Sales Finance Master Trust,
Series 2022-A, Class D (d)
   10.970%   09/20/27    4,350,000    4,266,055 
Mercury Financial Credit Card Master Trust, Series 2022-1A, Class A (d)   2.500%   09/21/26    23,685,000    22,672,374 
Mercury Financial Credit Card Master Trust, Series 2022-1A, Class B (d)   3.200%   09/21/26    4,000,000    3,832,702 
Mercury Financial Credit Card Master Trust, Series 2022-2A, Class C (d)   10.830%   03/22/27    8,000,000    7,835,794 
Mercury Financial Credit Card Master Trust, Series 2022-3A, Class B (d)   10.680%   06/21/27    3,500,000    3,483,640 
Mercury Financial Credit Card Master Trust, Series 2022-3A, Class D (d)   17.760%   06/21/27    4,000,000    4,023,667 
Mercury Financial Credit Card Master Trust, Series 2023-1A, Class B (d)   8.040%   09/20/27    7,000,000    7,025,146 
Mercury Financial Credit Card Master Trust, Series 2023-1A, Class D (d)   17.070%   09/20/27    10,000,000    10,058,659 
Mission Lane Credit Card Master,
Series 2023-A, Class D (d)
   11.950%   07/17/28    5,500,000    5,462,165 

 

 

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Securitized - 81.8% (Continued)  Coupon   Maturity   Shares / Par Value   Fair Value 
Credit Cards - 10.1% (Continued)        
Mission Lane Credit Card Master,
Series 2023-A, Class E (d)
   15.730%   07/17/28   $5,500,000   $5,434,997 
                   159,317,643 
Equipment - 0.9%                    
Business Jet Securities, LLC,
Series 2020-1, Class B (d)
   3.967%   11/15/35    444,226    415,492 
Business Jet Securities, LLC,
Series 2020-1, Class C (d)
   7.142%   11/15/35    661,689    640,938 
Business Jet Securities, LLC,
Series 2021-1A, Class B (d)
   2.918%   04/15/36    871,274    773,781 
Business Jet Securities, LLC,
Series 2021-1A, Class C (d)
   5.067%   04/15/36    1,250,779    1,164,231 
NMEF Funding, LLC, Series 2023-A, Class C (d)   8.040%   06/17/30    3,000,000    2,924,404 
Octane Receivables Trust,
Series 2021-1A, Class C (d)
   2.230%   11/20/28    3,000,000    2,771,118 
Post Road Equipment Finance,
Series 2021-1A, Class E (d)
   4.360%   03/15/29    1,340,000    1,323,445 
Stellar Jay Ireland DAC,
Series 2021-1, Class B (d)
   5.926%   10/15/41    6,630,343    4,702,836 
                   14,716,245 
HECM - 4.6%                    
Boston Lending Trust,
Series 2022-1, Class M2 (d)(e)
   2.750%   02/25/62    1,046,203    707,195 
Brean Asset Backed Securities,
Series 2021-RM2, Class A (a)(d)
   1.750%   10/25/61    7,935,268    6,796,941 
Brean Asset Backed Securities,
Series 2022-RM4, Class M1 (d)(e)
   3.000%   07/25/62    1,445,861    987,386 
Brean Asset Backed Securities,
Series 2023-RM6, Class A2 (d)
   5.250%   01/25/63    2,250,000    1,882,727 
Brean Asset Backed Securities,
Series 2023-SRM1, Class M2 (d)
   4.000%   09/25/63    4,750,000    3,810,762 
Brean Asset Backed Securities,
Series 2023-SRM1, Class M3 (d)
   4.000%   09/25/63    4,000,000    2,960,781 
Cascade Funding Mortgage Trust,
Series 2022-HB8, Class A (d)
   3.750%   04/25/25    4,925,557    4,826,169 

 

 

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Securitized - 81.8% (Continued)  Coupon   Maturity   Shares / Par Value   Fair Value 
HECM - 4.6% (Continued)        
Cascade Funding Mortgage Trust,
Series 2022-HB8, Class M3 (d)
   3.750%   04/25/25   $3,000,000   $2,678,826 
Cascade Funding Mortgage Trust,
Series 2021-HB7, Class M3 (d)
   3.849%   10/27/31    3,000,000    2,733,343 
Finance of America HECM Buyout Trust, Series 2022-HB1, Class M3 (a)(d)   5.084%   02/25/32    1,600,000    1,363,011 
Finance of America HECM Buyout Trust, Series 2022-HB1, Class M5 (d)   7.870%   02/25/32    8,000,000    6,509,765 
Finance of America HECM Buyout Trust, Series 2022-HB2, Class M3 (d)   6.000%   08/01/32    6,500,000    5,637,916 
Ocwen Loan Investment Trust,
Series 2023-HB1, Class M3 (d)
   3.000%   06/25/36    9,000,000    7,018,785 
RMF Buyout Issuance Trust,
Series 2021-HB1, Class A (d)
   1.259%   11/25/31    2,096,511    2,004,694 
RMF Buyout Issuance Trust,
Series 2021-HB1, Class M3 (d)
   3.690%   11/25/31    3,000,000    2,570,838 
RMF Buyout Issuance Trust,
Series 2021-HB1, Class M4 (d)
   4.704%   11/25/31    6,350,000    5,313,048 
RMF Buyout Issuance Trust,
Series 2020-HB1, Class M2 (d)
   3.630%   10/25/50    1,000,000    819,508 
RMF Proprietary Issuance Trust,
Series 2021-2, Class A (a)(d)
   2.125%   09/25/61    8,746,935    6,210,072 
RMF Proprietary Issuance Trust,
Series 2021-2, Class M2 (d)
   2.125%   09/25/61    2,607,981    1,490,954 
RMF Proprietary Issuance Trust,
Series 2022-1, Class A (a)(d)
   3.000%   01/25/62    953,842    790,663 
RMF Proprietary Issuance Trust,
Series 2022-2, Class M3 (a)(d)
   3.750%   06/25/62    2,600,000    1,400,400 
RMF Proprietary Issuance Trust II,
Series 2022-1, Class M1 (a)(d)
   3.000%   01/25/62    1,600,000    1,111,172 
RMF Proprietary Issuance Trust III,
Series 2022-1, Class M2 (d)
   3.000%   01/25/62    4,000,000    2,462,083 
                   72,087,039 

 

 

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Securitized - 81.8% (Continued)  Coupon   Maturity   Shares / Par Value   Fair Value 
Hospitality - 1.3%        
BHMS Mortgage Trust, Series 2018-ATLS, Class A (1* TSFR1M + 130) (a)(d)   6.879%   07/15/35   $4,700,000   $4,639,931 
BHMS Mortgage Trust, Series 2018-ATLS, Class B (1* TSFR1M + 155) (d)   7.129%   07/15/35    3,500,000    3,391,142 
BX Trust, Series 2018-GW, Class E
(1* TSFR1M + 227) (a)(d)
   7.578%   05/15/35    6,000,000    5,848,993 
Goldman Sachs Mortgage Securities Corp. Trust, Series 2018-HULA, Class C
(1* TSFR1M + 150) (a)(d)
   7.093%   07/15/25    3,476,136    3,406,116 
Hawaii Hotel Trust, Series 2019-MAUI, Class E (1* TSFR1M + 221) (d)   7.517%   05/15/38    3,000,000    2,925,607 
                   20,211,789 
Industrial - 1.0%                    
BX Trust, Series 2021-VOLT, Class C
(1* TSFR1M + 121) (d)
   6.547%   09/15/36    10,000,000    9,608,296 
BX Trust, Series 2021-VOLT, Class D
(1* TSFR1M + 176) (a)(d)
   7.097%   09/15/36    6,405,000    6,109,512 
                   15,717,808 
Manufactured Housing - 0.1%                    
Cascade Manufactured Housing Asset Trust, Series 2019-MH1, Class M (a)(d)   5.985%   11/25/44    1,100,000    1,034,780 
                     
Multifamily - 9.6%                    
FREMF Mortgage Trust, Series 2017-KF39, Class B (1* SOFR + 250) (a)(d)   7.926%   11/25/24    3,844,388    3,768,437 
FREMF Mortgage Trust, Series 2018-KF42, Class B (1* SOFR + 220) (a)(d)   7.626%   12/25/24    968,352    944,518 
FREMF Mortgage Trust, Series 2018-KF44, Class B (1* SOFR + 215) (a)(d)   7.576%   02/25/25    1,494,342    1,457,562 
FREMF Mortgage Trust, Series 2018-KF45, Class B (1* SOFR + 195) (a)(d)   7.376%   03/25/25    1,125,798    1,078,283 
FREMF Mortgage Trust, Series 2018-KF53, Class B (1* SOFR + 205) (a)(d)   7.476%   10/25/25    2,133,604    2,050,270 
FREMF Mortgage Trust, Series 2019-KF62, Class B (1* SOFR + 205) (a)(d)   7.476%   04/25/26    3,255,896    3,023,014 

 

 

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Securitized - 81.8% (Continued)  Coupon   Maturity   Shares / Par Value   Fair Value 
Multifamily - 9.6% (Continued)        
FREMF Mortgage Trust, Series 2018-KF43, Class B (1* SOFR + 215) (a)(d)   7.576%   01/25/28   $2,254,710   $2,126,003 
FREMF Mortgage Trust, Series 2018-KF48, Class B (1* SOFR + 205) (d)   7.476%   06/25/28    3,078,461    2,741,072 
FREMF Mortgage Trust, Series 2018-KF50, Class B (1* SOFR + 190) (a)(d)   7.326%   07/25/28    2,503,081    2,220,570 
FREMF Mortgage Trust, Series 2019-KF57, Class B (1* SOFR + 225) (a)(d)   7.466%   01/25/29    4,163,920    3,886,999 
FREMF Mortgage Trust, Series 2019-KF59, Class B (1* SOFR + 235) (a)(d)   7.776%   02/25/29    2,045,713    1,919,587 
FREMF Mortgage Trust, Series 2019-KF67, Class B (1* SOFR + 225) (a)(d)   7.466%   08/25/29    5,358,101    4,969,638 
MultiFamily Connecticut Avenue, Series 2019-01, Class B-10 (1* SOFR + 550) (a)(d)   10.929%   10/25/49    5,610,000    5,461,749 
MultiFamily Connecticut Avenue, Series 2020-01, Class CE (1* SOFR + 750) (a)(d)   12.929%   03/25/50    7,063,000    6,992,996 
MultiFamily Strcutured Credit Risk,
Series 2021-MN2, Class B1
(1* SOFR30A + 550) (a)(d)
   10.815%   07/25/41    6,154,000    5,197,476 
MultiFamily Structured Credit Risk,
Series 2021-MN2, Class M-1
(1* SOFR + 180) (a)(d)
   7.088%   07/25/41    16,069,880    15,042,583 
MultiFamily Structured Credit Risk,
Series 2021-MN2, Class M2
(1* SOFR30A + 335) (d)
   8.638%   07/25/41    39,250,000    35,540,769 
MultiFamily Structured Credit Risk,
Series 2021-MN1, Class M-1
(1* SOFR + 200) (a)(d)
   7.315%   01/25/51    6,763,753    6,553,036 
MultiFamily Structured Credit Risk, Series 2021-MN1, Class M2
(1* SOFR + 400) (a)(d)
   9.065%   01/25/51    15,500,000    14,915,391 
MultiFamily Structured Credit Risk, Series 2021-MN3, Class M1
(1* SOFR + 230) (a)(d)
   7.615%   11/25/51    18,269,262    17,680,970 
MultiFamily Structured Credit Risk, Series 2021-MN3, Class M2
(1* SOFR + 400) (a)(d)
   9.315%   11/25/51    5,400,000    5,124,464 

 

 

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Securitized - 81.8% (Continued)  Coupon   Maturity   Shares / Par Value   Fair Value 
Multifamily - 9.6% (Continued)        
MultiFamily Structured Credit Risk, Series 2021-MN3, Class B1
(1* SOFR + 685) (a)(d)
   12.165%   11/25/51   $2,500,000   $2,296,997 
MultiFamily Structured Credit Risk, Series 2022-MN4, Class M1
(1* SOFR + 425) (a)(d)
   9.565%   05/25/52    6,698,564    6,746,490 
                   151,738,874 
Non-Agency MBS 2.0 - 0.3%                    
Chase Mortgage Finance Corp., Series 2021-CL1, Class M3 (1* SOFR + 155) (a)   6.865%   02/25/50    2,207,074    1,965,567 
J.P. Morgan Wealth Management, Series 2021-CL1, Class M1 (1* SOFR + 130) (a)(d)   6.615%   03/25/51    1,858,726    1,752,998 
J.P. Morgan Wealth Management, Series 2021-CL1, Class M3 (1* SOFR + 180) (a)(d)   7.115%   03/25/51    1,402,883    1,280,804 
                   4,999,369 
Non-Performing Loan - 0.1%                    
Cascade Funding Mortgage Trust,
Series 2021-EBO1, Class M3 (a)(d)
   3.086%   11/25/50    1,662,000    1,440,819 
                     
Non-QM - 0.0% (c)                    
Citigroup Mortgage Loan Trust, Inc.,
Series 2004-UST1, Class A3 (a)
   4.329%   08/25/34    3,730    3,527 
                     
Office - 0.7%                    
Drop Mortgage Trust, Series 2021-FILE,
Class A (1* TSFR1M + 126) (d)
   6.596%   10/15/43    3,500,000    3,262,626 
Drop Mortgage Trust, Series 2021-FILE,
Class C (1* TSFR1M + 236) (a)(d)
   7.696%   10/15/43    5,500,000    4,455,000 
SFO Commerical Mortgage Trust,
Series 2021-555, Class A (d)
   6.596%   05/15/38    3,600,000    3,266,153 
                   10,983,779 
Residential Transition Loan - 6.5%                    
AlphaFlow Transitional Mortgage Co.,
Series 2021-WL1, Class A1 (d)
   3.280%   01/25/26    7,498,493    7,284,336 
AlphaFlow Transitional Mortgage Co.,
Series 2021-WL1, Class A2 (d)
   5.610%   01/25/26    5,687,480    5,563,385 

 

 

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Securitized - 81.8% (Continued)  Coupon   Maturity   Shares / Par Value   Fair Value 
Residential Transition Loan - 6.5% (Continued)        
Antler Mortgage Trust,
Series 2021-RTL1, Class M (a)(d)(e)
   5.438%   05/25/25   $16,188,000   $14,622,480 
Corevest American Finance Ltd.,
Series 2021-RTL1, Class A2 (d)
   3.104%   03/28/29    7,500,000    6,819,898 
LHOME Mortgage Trust,
Series 2021-RTL1, Class M (a)(d)
   4.458%   02/25/26    2,750,000    2,463,460 
LHOME Mortgage Trust,
Series 2021-RTL2, Class A2 (d)
   2.783%   06/25/26    1,500,000    1,358,306 
LHOME Mortgage Trust,
Series 2021-RTL2, Class M (d)
   4.458%   06/25/26    4,000,000    3,495,566 
LHOME Mortgage Trust,
Series 2021-RTL3, Class A2 (d)
   3.228%   09/25/26    8,250,000    7,392,236 
LHOME Mortgage Trust,
Series 2021-RTL3, Class M (d)
   5.193%   09/25/26    5,000,000    4,334,761 
LHOME Mortgage Trust,
Series 2022-RTL1, Class M (d)
   6.900%   02/25/27    7,927,500    7,210,060 
New York Mortgage Trust,
Series 2022-BPL1, Class A2 (d)
   4.948%   11/25/27    5,500,000    5,225,815 
ROC Securities Trust,
Series 2021-RTL1, Class A2 (d)
   3.351%   08/25/26    7,900,000    7,135,922 
ROC Securities Trust,
Series 2021-RTL1, Class M (d)
   5.682%   08/25/26    6,745,000    5,940,635 
Toorak Mortgage Corp.,
Series 2022-1, Class A2 (d)
   4.948%   03/25/29    8,000,000    7,751,168 
TVC Mortgage Trust,
Series 2023-RTL1, Class A2 (d)
   9.500%   11/25/27    15,000,000    14,808,271 
                   101,406,299 
Retail - 1.4%                    
BX Trust, Series 2021-VIEW, Class E
(1* SOFR + 360) (a)(d)(e)
   9.024%   06/15/36    4,690,500    4,210,446 
Credit Suisse Mortgage Trust,
Series 2018-SITE, Class C (a)(d)
   4.941%   04/15/36    4,575,000    4,421,647 
Wells Fargo Mortgage Trust, Series 2021-SAVE, Class A (1* SOFR + 115) (d)   6.597%   02/15/40    4,177,450    3,989,028 

 

 

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Securitized - 81.8% (Continued)  Coupon   Maturity   Shares / Par Value   Fair Value 
Retail - 1.4% (Continued)        
Wells Fargo Mortgage Trust, Series 2021-SAVE, Class C (1* SOFR + 180) (a)(d)   7.247%   02/15/40   $3,040,000   $2,815,416 
Wells Fargo Mortgage Trust, Series 2021-SAVE, Class D (1* SOFR + 250) (a)(d)   7.947%   02/15/40    2,083,200    1,867,011 
Wells Fargo Mortgage Trust, Series 2021-SAVE, Class E (1* SOFR + 365) (a)(d)   9.097%   02/15/40    5,680,000    5,055,832 
                   22,359,380 
Single Family Rental - 3.9%                    
American Homes 4 Rent,
Series 2014-SFR2, Class A (d)
   3.790%   10/17/36    13,553,605    13,232,705 
American Homes 4 Rent,
Series 2014-SFR2, Class D (d)
   3.678%   12/17/36    4,177,755    4,064,947 
American Homes 4 Rent,
Series 2015-SFR1, Class A (d)
   3.467%   04/17/52    4,203,819    4,044,434 
AMSR Trust, Series 2020-SFR2, Class G (d)   4.000%   07/17/37    500,000    461,617 
Home Partners of America Trust,
Series 2021-2, Class D (d)
   2.652%   12/17/26    6,257,226    5,483,339 
Progress Residential Trust,
Series 2023-SFR2, Class E1 (d)
   4.750%   10/17/28    3,141,000    2,726,005 
Progress Residential Trust,
Series 2019-SFR4, Class A (d)
   2.687%   10/17/36    2,936,730    2,833,416 
Progress Residential Trust,
Series 2019-SFR4, Class B (d)
   2.937%   10/17/36    2,300,000    2,217,358 
Progress Residential Trust,
Series 2020-SFR1, Class A (d)
   1.732%   04/17/37    27,224,119    25,444,818 
                   60,508,639 
Small Business - 3.9%                    
Credibility Asset Securitization,
Series 2021-1A, Class A (d)
   2.390%   04/15/26    12,000,000    11,639,237 
Credibility Asset Securitization,
Series 2021-1A, Class C (d)
   3.380%   04/15/26    3,650,000    3,498,796 
Credibility Asset Securitization,
Series 2021-1A, Class B (d)
   5.930%   04/15/26    2,676,000    2,558,765 
FORA Financial Asset Securitization,
Series 2021-1A, Class A (d)
   2.620%   05/15/27    11,000,000    10,374,752 

 

 

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Securitized - 81.8% (Continued)  Coupon   Maturity   Shares / Par Value   Fair Value 
Small Business - 3.9% (Continued)        
FORA Financial Asset Securitization,
Series 2021-1A, Class B (d)
   2.970%   05/15/27   $2,600,000   $2,424,335 
FORA Financial Asset Securitization,
Series 2021-1A, Class C (d)
   3.850%   05/15/27    3,000,000    2,740,957 
Newtek Small Business Loan Trust, Series 2018-1, Class A (1* Prime - 55) (a)(d)   7.950%   02/25/44    510,786    505,963 
Newtek Small Business Loan Trust, Series 2018-1, Class B (1* Prime + 75) (a)(d)   9.250%   02/25/44    1,123,729    1,115,775 
Newtek Small Business Loan Trust, Series 2019-01, Class A (1* Prime - 90) (a)(d)   7.600%   12/25/44    1,366,786    1,350,178 
Newtek Small Business Loan Trust, Series 2022-1, Class B (1* SOFR + 375) (a)(d)   8.750%   10/25/49    2,527,474    2,498,012 
Newtek Small Business Loan Trust,
Series 2023-1, Class B (d)
   9.250%   07/25/50    6,368,902    6,340,957 
OnDeck Asset Securitization Trust,
Series 2023-1, Class C (d)
   9.930%   08/19/30    5,000,000    4,918,445 
OnDeck Asset Securitization Trust,
Series 2021-1A, Class B (d)
   2.280%   05/17/27    3,500,000    3,349,855 
OnDeck Asset Securitization Trust,
Series 2021-1A, Class C (d)
   2.970%   05/17/27    3,250,000    3,069,104 
OnDeck Asset Securitization Trust,
Series 2021-1A, Class D (d)
   4.940%   05/17/27    5,500,000    5,107,108 
                   61,492,239 
Student Loan - 0.6%                    
College Ave Student Loans,
Series 2018-A, Class B (d)
   4.750%   12/26/47    798,144    751,396 
College Ave Student Loans,
Series 2018-A, Class C (d)
   5.500%   12/26/47    486,655    467,366 
College Ave Student Loans,
Series 2019-A, Class C (d)
   4.460%   12/28/48    2,523,899    2,345,923 
College Ave Student Loans,
Series 2021-A, Class B (d)
   2.320%   07/25/51    1,621,770    1,426,693 
College Ave Student Loans,
Series 2021-A, Class D (d)
   4.120%   07/25/51    1,182,241    1,090,946 

 

 

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Securitized - 81.8% (Continued)  Coupon   Maturity   Shares / Par Value   Fair Value 
Student Loan - 0.6% (Continued)        
CommonBond Student Loan Trust,
Series 2017-BGS, Class C (d)
   4.440%   09/25/42   $227,751   $183,852 
Laurel Road Prime Student Loan,
Series 2019-A, Class BFX (d)
   3.000%   10/25/48    1,842,377    1,679,311 
Prodigy Finance, Series 2021-1A,
Class A (1* TSFR1M + 136) (a)(d)
   6.684%   07/25/51    853,917    845,386 
                   8,790,873 
Unsecured Consumer - 10.0%                    
ACHV ABS Trust, Series 2023-2PL, Class B (d)   6.880%   05/20/30    4,000,000    4,000,526 
ACHV ABS Trust, Series 2023-2PL, Class C (d)   7.270%   05/20/30    1,450,000    1,451,603 
ACHV ABS Trust, Series 2023-3PL, Class D (d)   8.360%   08/19/30    1,750,000    1,760,025 
Affirm, Inc., Series 2022-Z1, Class B (d)   6.490%   06/15/27    2,500,000    2,397,855 
Affirm, Inc., Series 2023-B, Class B (d)   7.440%   09/15/28    3,000,000    2,997,747 
Avant Loans Funding Trust,
Series 2021-REV1, Class C (d)
   2.300%   07/15/30    10,750,000    10,170,146 
Conn Funding II, LP, Series 2023-A, Class B (d)   10.000%   01/17/28    3,080,000    3,086,407 
Freedom Financial Trust,
Series 2022-3FP, Class D (d)
   7.360%   08/20/29    11,500,000    11,387,438 
LendingPoint Asset Securitization,
Series 2022-C, Class D (d)
   10.730%   02/15/30    4,920,000    4,486,663 
Lendmark Funding Trust,
Series 2020-2, Class B (d)
   3.540%   04/21/31    2,000,000    1,763,746 
Lendmark Funding Trust,
Series 2020-2A, Class C (d)
   4.690%   04/21/31    1,000,000    881,658 
Mariner Finance Issuance Trust,
Series 2019-A, Class C (d)
   4.010%   07/20/32    2,560,000    2,508,463 
Mariner Finance Issuance Trust,
Series 2020-A, Class D (d)
   5.750%   08/21/34    8,230,000    7,387,629 
Mariner Finance Issuance Trust,
Series 2021-AA, Class D (d)
   4.340%   03/20/36    1,850,000    1,545,768 
Oportun Funding XIV, LLC,
Series 2021-A, Class C (d)
   3.440%   03/08/28    4,323,239    4,169,926 
Oportun Funding, LLC, Series 2019-A, Class D (d)   6.220%   08/08/25    4,320,230    4,168,744 

 

 

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Securitized - 81.8% (Continued)  Coupon   Maturity   Shares / Par Value   Fair Value 
Unsecured Consumer - 10.0% (Continued)        
Oportun Funding, LLC,
Series 2022-1, Class C (d)
   6.000%   06/15/29   $9,000,000   $8,624,479 
Oportun Funding, LLC,
Series 2022-2, Class A (d)
   5.940%   10/09/29    2,905,853    2,897,562 
Oportun Funding, LLC,
Series 2021-B, Class A (d)
   1.470%   05/08/31    3,500,000    3,196,184 
Oportun Funding, LLC,
Series 2021-B, Class D (d)
   5.410%   05/08/31    7,650,000    6,921,156 
Oportun Funding, LLC,
Series 2022-A, Class C (d)
   7.400%   06/09/31    7,600,000    7,207,360 
Oportun Funding, LLC,
Series 2022-A, Class D (d)
   8.500%   06/09/31    1,500,000    1,370,266 
Oportun Funding, LLC,
Series 2021-C, Class B (d)
   2.670%   10/08/31    13,000,000    11,681,075 
Oportun Funding, LLC,
Series 2021-C, Class C (d)
   3.610%   10/08/31    3,750,000    3,336,651 
Oportun Funding, LLC,
Series 2021-C, Class D (d)
   5.570%   10/08/31    3,500,000    3,067,316 
Prosper Marketplace Issuance Trust,
Series 2019-3A, Class CERT (a)(d)
   0.000%   07/15/25    81,061,702    400,039 
Prosper Marketplace Issuance Trust,
Series 2023-1, Class B (d)
   7.480%   07/16/29    2,300,000    2,303,369 
Prosper Marketplace Issuance Trust,
Series 2023-1, Class C (d)
   8.290%   07/16/29    1,900,000    1,906,137 
Prosper Marketplace Issuance Trust,
Series 2023-1, Class D (d)
   11.240%   07/16/29    1,900,000    1,903,440 
Reach Financial, LLC,
Series 2021-1A, Class B (d)
   2.170%   05/15/29    3,800,000    3,585,876 
Reach Financial, LLC,
Series 2021-1A, Class C (d)
   3.540%   05/15/29    6,700,000    6,032,923 
Regional Management Issuance Trust,
Series 2020-1, Class A (d)
   2.340%   10/15/30    2,000,000    1,948,719 
Regional Management Issuance Trust,
Series 2020-1, Class B (d)
   3.230%   10/15/30    2,500,000    2,327,682 

 

 

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Securitized - 81.8% (Continued)  Coupon   Maturity   Shares / Par Value   Fair Value 
Unsecured Consumer - 10.0% (Continued)        
Regional Management Issuance Trust,
Series 2021-1, Class B (d)
   2.420%   03/17/31   $895,000   $795,207 
Regional Management Issuance Trust,
Series 2021-1, Class C (d)
   3.040%   03/17/31    4,650,000    4,016,160 
Regional Management Issuance Trust,
Series 2021-1, Class D (d)
   5.070%   03/17/31    1,300,000    1,110,289 
Upstart Pass-Through Trust,
Series 2021-ST2, Class A (d)
   2.500%   04/20/27    2,028,965    1,964,279 
Upstart Pass-Through Trust,
Series 2021-ST4, Class A (d)
   2.000%   07/20/27    4,738,069    4,531,532 
Upstart Pass-Through Trust,
Series 2021-ST7, Class NT (d)
   1.850%   09/20/29    946,841    927,842 
Upstart Pass-Through Trust,
Series 2022-ST1, Class A (d)
   2.600%   03/20/30    1,549,722    1,501,735 
Upstart Structured Pass-Through Trust,
Series 2022-2A, Class A (d)
   4.250%   06/17/30    3,127,325    3,031,875 
Upstart Structured Pass-Through Trust,
Series 2022-4A, Class A (d)
   7.010%   11/15/30    1,933,608    1,934,500 
Upstart Structured Pass-Through Trust,
Series 2022-4A, Class B (d)
   8.540%   11/15/30    5,000,000    5,034,550 
                   157,722,547 
                     
Total Securitized (Cost $1,345,942,946)                 $1,287,925,267 

 

Treasury - 4.7%  Coupon   Maturity   Shares / Par Value   Fair Value 
U.S. Treasury Notes (b)   0.125%   10/15/23   $10,000,000   $9,981,262 
U.S. Treasury Notes (b)   2.750%   11/15/23    10,000,000    9,967,197 
U.S. Treasury Notes   2.625%   12/31/23    10,000,000    9,930,469 
U.S. Treasury Notes (b)   1.750%   06/30/24    15,000,000    14,589,844 
U.S. Treasury Notes (b)   0.375%   09/15/24    10,000,000    9,529,297 
U.S. Treasury Notes   0.625%   10/15/24    10,000,000    9,517,969 
U.S. Treasury Notes (b)   0.750%   11/15/24    5,000,000    4,749,219 

 

 

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Treasury - 4.7% (Continued)  Coupon   Maturity   Shares / Par Value   Fair Value 
U.S. Treasury Inflation-Protected Notes   0.125%   04/15/26   $5,361,622   $5,008,928 
Total Treasury (Cost $75,183,508)                 $73,274,185 

 

Registered Investment Companies - 9.7%  Shares   Fair Value 
State Street Institutional Liquid Reserves Fund -
Premier Class, 5.45% (f)
   135,290,448   $135,331,035 
State Street Navigator Securities Lending Portfolio I, 5.25% (f)(g)   17,094,845    17,094,845 
Total Registered Investment Companies (Cost $152,412,210)       $152,425,880 
           
Total Investment Securities - 100.9% (Cost $1,649,958,275)       $1,587,751,240 
           
Liabilities in Excess of Other Assets - (0.9)%        (13,798,099)
           
Net Assets - 100.0%       $1,573,953,141 

 

(a) Variable rate security.  The rate shown is the effective interest rate as of September 30, 2023.  The benchmark on which the rate is calculated is shown parenthetically, if applicable.  Certain variable rate securities are not based on a published rate and spread but are determined by the issuer or agent and may be based on index changes, prerepayment of underlying positions and/or other variables.  These securities do not indicate a reference rate and spread in their description above.
(b) All or a portion of the security is on loan.  The total fair value of the securities on loan as of September 30, 2023 was $30,034,786.
(c) Percentage rounds to less than 0.1%.
(d) Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities have been deemed liquid under procedures approved by the Fund’s Board of Trustees and may normally be sold to qualified institutional buyers in transactions exempt from registration. The total fair value of these securities as of September 30, 2023 was $1,191,306,177, representing 75.7% of net assets.
(e) Illiquid security as determined under procedures approved by the Board of Trustees. The total fair value of these securities as of September 30, 2023 was $44,480,254 representing 2.8% of net assets.
(f) The rate shown is the 7-day effective yield as of September 30, 2023.
(g) This security was purchased using cash collateral held from securities on loan. Securities on loan are also collateralized by various U.S. Treasury and government agency securities in the amount of $13,615,000.

 

IO - Interest Only
NA - National Association
PO - Principal Only
Prime - Short-term interest rate in the banking system of the U.S.
SOFR - Secured Overnight Financing Rate
TSFR- CME Term SOFR

 

 

Diamond Hill Core Bond Fund

Schedule of Investments

September 30, 2023 (Unaudited)

 

Corporate Credit - 16.3%  Coupon   Maturity   Shares / Par Value   Fair Value 
Banking - 6.2%        
American Express Co.   2.250%   03/04/25   $1,050,000   $997,795 
American Express Co.   5.282%   07/27/29    400,000    389,973 
American Express Co.   5.043%   05/01/34    825,000    760,610 
Bank of America Corp. (1* TSFR3M + 123) (a)   3.458%   03/15/25    975,000    961,983 
Bank of America Corp. (1* TSFR3M + 90) (a)   2.015%   02/13/26    400,000    376,373 
Bank of America Corp. (1* SOFR + 115) (a)   1.319%   06/19/26    150,000    137,561 
Bank of America Corp. (1* TSFR3M + 184) (a)   3.824%   01/20/28    275,000    255,376 
Bank of America Corp. (1* TSFR3M + 130) (a)   3.419%   12/20/28    1,000,000    900,125 
Bank of America Corp.   3.194%   07/23/30    2,500,000    2,136,933 
Bank of America Corp. (1* TSFR3M + 145)   2.884%   10/22/30    2,300,000    1,916,212 
Bank of America Corp. (1* SOFR + 215) (a)   2.592%   04/29/31    450,000    361,616 
Bank of America Corp.   4.571%   04/27/33    1,700,000    1,509,316 
Bank of Montreal France   0.949%   01/22/27    630,000    561,732 
Bank of New York Mellon Corp. (The)   5.802%   10/25/33    1,050,000    1,047,960 
Bank of New York Mellon Corp. (The)
(1* SOFR + 207) (a)
   5.834%   10/25/33    500,000    491,497 
Bank of Nova Scotia   3.450%   04/11/25    200,000    192,567 
Capital One Financial Corp.   1.878%   11/02/27    1,000,000    870,247 
Capital One Financial Corp.   5.468%   02/01/29    500,000    475,951 
Capital One Financial Corp.   6.377%   06/08/34    500,000    471,858 
Citigroup, Inc. (1* TSFR3M + 116) (a)   3.352%   04/24/25    200,000    196,433 
Citigroup, Inc. (1* SOFR + 125) (a)   6.783%   07/01/26    100,000    101,798 
Citigroup, Inc. (1* TSFR3M + 182) (a)   3.887%   01/10/28    900,000    838,970 
Citigroup, Inc.   3.070%   02/24/28    800,000    725,681 
Citigroup, Inc.   4.125%   07/25/28    150,000    136,471 
Citigroup, Inc. (1* SOFR + 142) (a)(b)   2.976%   11/05/30    3,380,000    2,829,933 
Citigroup, Inc.   2.666%   01/29/31    1,650,000    1,338,174 
Citizens Bank NA   4.575%   08/09/28    1,350,000    1,232,978 
Comerica Bank, Series BKNT   2.500%   07/23/24    250,000    239,314 
Cooperative Rabobank UA (c)   2.625%   07/22/24    250,000    243,365 
Discover Bank   3.450%   07/27/26    1,500,000    1,364,152 
Discover Bank   4.650%   09/13/28    950,000    848,446 
Fifth Third Bancorp   2.375%   01/28/25    275,000    261,101 
Fifth Third Bancorp   1.707%   11/01/27    450,000    388,781 
Fifth Third Bancorp   6.361%   10/27/28    500,000    495,581 

 

 

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Corporate Credit - 16.3% (Continued)  Coupon   Maturity   Shares / Par Value   Fair Value 
Banking - 6.2% (Continued)                    
First Horizon Bank (b)   5.750%   05/01/30   $250,000   $223,769 
Goldman Sachs Group, Inc.   0.657%   09/10/24    375,000    374,107 
Goldman Sachs Group, Inc. (1* SOFR + 79) (a)   1.093%   12/09/26    950,000    849,999 
Goldman Sachs Group, Inc.   1.948%   10/21/27    1,000,000    882,953 
Goldman Sachs Group, Inc. (1* TSFR3M + 156) (a)   4.223%   05/01/29    650,000    601,269 
Goldman Sachs Group, Inc.   2.600%   02/07/30    500,000    409,500 
Goldman Sachs Group, Inc. (a)   1.992%   01/27/32    1,000,000    749,623 
Goldman Sachs Group, Inc. (1* SOFR + 128) (a)   2.615%   04/22/32    2,700,000    2,108,907 
Huntington Bancshares, Inc.   2.625%   08/06/24    125,000    120,824 
Huntington Bancshares, Inc. (b)   4.443%   08/04/28    750,000    692,759 
Huntington Bancshares, Inc.   5.023%   05/17/33    400,000    352,618 
Huntington National Bank   5.699%   11/18/25    500,000    488,706 
JPMorgan Chase & Co.   0.824%   06/01/25    1,350,000    1,299,582 
JPMorgan Chase & Co.   0.768%   08/09/25    600,000    571,490 
JPMorgan Chase & Co.   1.561%   12/10/25    200,000    189,016 
JPMorgan Chase & Co. (1* SOFR + 80) (a)   1.045%   11/19/26    500,000    449,355 
JPMorgan Chase & Co. (1* SOFR + 89) (a)   1.578%   04/22/27    400,000    356,973 
JPMorgan Chase & Co.   1.470%   09/22/27    1,350,000    1,182,717 
JPMorgan Chase & Co. (1* TSFR3M + 121) (a)   3.509%   01/23/29    1,425,000    1,292,556 
JPMorgan Chase & Co. (1* SOFR + 115) (a)   2.069%   06/01/29    1,250,000    1,053,260 
JPMorgan Chase & Co.   3.702%   05/06/30    1,500,000    1,337,821 
JPMorgan Chase & Co. (1* SOFR + 151) (a)   2.739%   10/15/30    450,000    376,320 
JPMorgan Chase & Co.   2.545%   11/08/32    475,000    367,600 
KeyBank NA (a)   5.536%   06/14/24    500,000    491,979 
KeyBank NA   4.700%   01/26/26    250,000    237,059 
KeyBank NA   5.000%   01/26/33    250,000    210,441 
KeyCorp   2.550%   10/01/29    385,000    300,326 
KeyCorp   4.789%   06/01/33    300,000    250,066 
M&T Bank Trust Co.   5.400%   11/21/25    600,000    581,835 
Morgan Stanley (1* SOFR + 46) (a)(b)   5.537%   01/25/24    500,000    499,895 
Morgan Stanley   3.875%   01/27/26    500,000    478,027 
Morgan Stanley   3.125%   07/27/26    200,000    185,759 
Morgan Stanley   3.625%   01/20/27    100,000    93,353 

 

 

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Corporate Credit - 16.3% (Continued)  Coupon   Maturity   Shares / Par Value   Fair Value 
Banking - 6.2% (Continued)        
Morgan Stanley, Series GMTN
(1* SOFR + 114) (a)
   2.699%   01/22/31   $2,675,000   $2,187,109 
Morgan Stanley (1* SOFR + 103) (a)   1.794%   02/13/32    2,900,000    2,147,589 
Morgan Stanley   1.928%   04/28/32    750,000    557,100 
Morgan Stanley   4.889%   07/20/33    1,000,000    908,626 
PNC Bank NA   2.700%   10/22/29    250,000    203,387 
PNC Financial Services Group, Inc. (The)   2.600%   07/23/26    250,000    230,729 
PNC Financial Services Group, Inc. (The)   5.582%   06/12/29    500,000    485,057 
PNC Financial Services Group, Inc. (The)   6.037%   10/28/33    850,000    824,901 
PNC Financial Services Group, Inc. (The) (b)   5.939%   08/18/34    1,000,000    960,822 
Regions Financial Corp.   2.250%   05/18/25    275,000    256,533 
Royal Bank of Canada   4.950%   04/25/25    375,000    369,569 
Royal Bank of Canada, Series H   1.150%   07/14/26    200,000    176,727 
Royal Bank of Canada (b)   4.900%   01/12/28    500,000    485,645 
Royal Bank of Canada (b)   3.875%   05/04/32    300,000    261,497 
Royal Bank of Canada (b)   5.000%   05/02/33    1,000,000    929,074 
State Street Corp. (1* SOFR + 94) (a)   2.354%   11/01/25    175,000    167,734 
State Street Corp.   5.272%   08/03/26    700,000    693,424 
State Street Corp. (a)   4.164%   08/04/33    300,000    261,905 
Toronto-Dominion Bank (The)   0.750%   01/06/26    350,000    312,286 
Toronto-Dominion Bank (The) (b)   1.200%   06/03/26    700,000    620,711 
Toronto-Dominion Bank (The)   5.156%   01/10/28    500,000    487,996 
Toronto-Dominion Bank (The), Series C   5.523%   07/17/28    500,000    493,519 
Toronto-Dominion Bank (The)   3.200%   03/10/32    236,000    193,175 
Truist Financial Corp. (b)   5.900%   10/28/26    250,000    247,241 
Truist Financial Corp.   6.047%   06/08/27    500,000    494,561 
Truist Financial Corp.   4.873%   01/26/29    500,000    469,355 
Truist Financial Corp.   1.887%   06/07/29    1,000,000    821,200 
US Bancorp (b)   2.400%   07/30/24    100,000    97,135 
US Bancorp   2.215%   01/27/28    800,000    705,756 
US Bancorp   4.548%   07/22/28    300,000    281,792 
US Bancorp   5.775%   06/12/29    450,000    438,021 
US Bancorp (b)   4.839%   02/01/34    1,000,000    880,457 
Wells Fargo & Co.   2.164%   02/11/26    1,050,000    991,176 
Wells Fargo & Co. (1* SOFR + 200) (a)   2.188%   04/30/26    500,000    469,467 

 

 

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Corporate Credit - 16.3% (Continued)  Coupon   Maturity   Shares / Par Value   Fair Value 
Banking - 6.2% (Continued)        
Wells Fargo & Co. (1* SOFR + 210) (a)   2.393%   06/02/28   $650,000   $570,030 
Wells Fargo & Co., Series W
(1* SOFR + 174) (a)
   5.574%   07/25/29    900,000    878,032 
Wells Fargo & Co. (a)   2.879%   10/30/30    1,500,000    1,248,683 
Wells Fargo & Co.   3.350%   03/02/33    2,700,000    2,182,527 
                   70,707,875 
Basic Industry - 0.1%                    
FMC Corp.   3.450%   10/01/29    300,000    252,623 
Nucor Corp., CV   2.000%   06/01/25    250,000    234,730 
Nucor Corp.   3.125%   04/01/32    250,000    206,653 
PPG Industries, Inc.   2.400%   08/15/24    110,000    106,735 
PPG Industries, Inc.   2.550%   06/15/30    300,000    246,839 
Sherwin Williams Co.   3.300%   02/01/25    350,000    336,800 
Sherwin-Williams Co.   2.300%   05/15/30    250,000    203,417 
                   1,587,797 
Brokerage Asset Managers Exchanges - 0.3%                    
Ameriprise Financial, Inc.   3.000%   04/02/25    250,000    239,792 
Ameriprise Financial, Inc.   5.150%   05/15/33    800,000    755,638 
BlackRock, Inc.   4.750%   05/25/33    800,000    750,771 
CBOE Global Markets, Inc.   3.650%   01/12/27    100,000    94,841 
Charles Schwab Corp. (The) (a)(b)   5.853%   05/19/34    1,100,000    1,045,983 
Charles Schwab Corp. (The) (a)   6.136%   08/24/34    450,000    437,740 
Intercontinental Exchange, Inc.   4.950%   06/15/52    875,000    754,233 
                   4,078,998 
Capital Goods - 0.5%                    
Carrier Global Corp.   2.722%   02/15/30    250,000    208,344 
John Deere Capital Corp., Series I   4.950%   07/14/28    400,000    394,476 
John Deere Capital Corp., Series I   4.700%   06/10/30    1,350,000    1,298,207 
Johnson Controls International plc   2.000%   09/16/31    500,000    382,772 
L3 Harris Technologies, Inc.   3.850%   12/15/26    1,050,000    994,330 
Lennox International, Inc.   3.000%   11/15/23    100,000    99,638 
Lockheed Martin Corp.   4.450%   05/15/28    250,000    241,954 
Lockheed Martin Corp.   5.250%   01/15/33    425,000    419,803 
Republic Services, Inc.   2.500%   08/15/24    200,000    194,251 

 

 

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

September 30, 2023 (Unaudited)

 

Corporate Credit - 16.3% (Continued)  Coupon   Maturity   Shares / Par Value   Fair Value 
Capital Goods - 0.5% (Continued)        
Waste Management, Inc.,
Series 19-SFR4, Class A (b)
   3.125%   03/01/25   $400,000   $386,721 
Waste Management, Inc.   1.150%   03/15/28    300,000    251,315 
Waste Management, Inc.   4.625%   02/15/30    875,000    835,711 
                   5,707,522 
Communications - 0.9%                    
American Tower Corp.   3.125%   01/15/27    300,000    274,332 
American Tower Corp.   5.800%   11/15/28    250,000    248,118 
American Tower Corp.   2.100%   06/15/30    200,000    155,655 
AT&T, Inc.   2.300%   06/01/27    650,000    575,540 
AT&T, Inc.   2.550%   12/01/33    114,000    83,732 
AT&T, Inc.   4.500%   05/15/35    100,000    85,297 
AT&T, Inc., Class B   3.500%   06/01/41    400,000    277,892 
AT&T, Inc.   4.300%   12/15/42    500,000    385,538 
British Telecommunications plc (b)(c)   3.250%   11/08/29    275,000    237,387 
Comcast Corp.   5.350%   11/15/27    450,000    449,765 
Comcast Corp.   2.650%   02/01/30    100,000    84,466