DHFCX — Diamond Hill Long-Short Fund
Data updated: 2026-08-31
DHFCX — Diamond Hill Long-Short Fund. United States Large Cap Blend / Core Equity · $2.11B AUM. Holdings, fees, performance and SEC filings.
DHFCX Fund Overview
DHFCX — Diamond Hill Long-Short Fund is a US mutual fund managed by Diamond Hill Funds, categorised as United States Large Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Diamond Hill Funds
- Category: United States Large Cap Blend / Core Equity
- Assets under management: $2.11B
- 1-year return: 17.9%
- Ticker: DHFCX
- SEC CIK: 0001032423
- SEC series ID: S000003156
- Share class ID: C000008537
DHFCX Investment Objective and Strategy
Diamond Hill Long-Short Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Diamond Hill Funds.
Investment objective
The investment objective of the Diamond Hill Long-Short Fund is to provide long-term capital appreciation.
Principal investment strategy
The fund, under normal market conditions, invests its assets in U.S. equity securities of any size capitalization that Diamond Hill Capital Management, Inc. (the Adviser) believes are undervalued and selling short equity securities of any size capitalization the Adviser believes are overvalued. Equity securities consist of common and preferred stocks. The Adviser focuses on estimating a companys value independent of its current stock price. To estimate a companys value, the Adviser concentrates on the fundamental economic drivers of the business. The primary focus is on bottom-up analysis, which takes into consideration earnings, revenue growth, operating margins and other economic factors. The Adviser also considers the level of industry competition, regulatory factors, the threat of technological obsolescence, and a variety of other industry factors.
If the Advisers estimate of a companys value differs sufficiently from the current market price, the company may be an attractive investment opportunity. In constructing a portfolio of securities, the Adviser is not constrained by the sector or industry weights in the benchmark. The Adviser relies on individual stock selection and discipline in the investment process to add value. The highest portfolio security weights are assigned to companies where the Adviser has the highest level of conviction. The fund also will sell securities short. Short sales are effected when it is believed that the price of a particular security will decline, and involves the sale of a security which the fund does not own in hopes of purchasing the same security at a later date at a lower price. To make delivery to the buyer, the fund must borrow the security, and the fund is obligated to return the security to the lender, which is accomplished by a later purchase of the security by the fund.
The frequency of short sales will vary substantially in different periods, and it is not intended that any specified portion of the funds assets will as a matter of practice be invested in short sales. The fund will not make a short sale if, immediately before the transaction, the market value of all securities sold short exceeds 40% of the value of the funds net assets. Once a stock is purchased or sold short, the Adviser continues to monitor the companys strategies, financial performance and competitive environment. The Adviser may sell a security (or repurchase a security sold short) as it reaches the Advisers estimate of the companys value; if it believes that the companys earnings, revenue growth, operating margin or other economic factors are deteriorating (or improving in the case of a short sale); or, if it identifies a stock that it believes offers a better investment opportunity.
DHFCX Holdings
Top 10 holdings of Diamond Hill Long-Short Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| State Street Institutional Investment Trust | 6.32% |
| Taiwan Semiconductor Manufacturing Company Ltd. | 5.43% |
| Microsoft Corp. | 4.93% |
| Alphabet, Inc. | 4.52% |
| Meta Platforms, Inc. | 4.36% |
| American International Group, Inc. | 3.93% |
| Abbott Laboratories | 2.89% |
| Aon PLC | 2.87% |
| Sentinelone, Inc. | 2.82% |
| Amazon.com, Inc. | 2.81% |
DHFCX Portfolio Allocation
Asset-class allocation of Diamond Hill Long-Short Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 94.2% |
| Cash & Equivalents | 6.5% |
DHFCX Performance
Total returns for DHFCX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 17.9% |
DHFCX Risk Information
Risk metrics for DHFCX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 13.2%
DHFCX Costs and Fees
DHFCX costs about $261 per $10,000 invested per year in fund expenses.
- Net expense ratio: 2.61%
- Gross expense ratio: 2.62%
- Portfolio turnover: 67%
- Brokerage commissions: 3.26 bps of average net assets (SEC N-CEN)
DHFCX Cashflows
Over the 12 months to 2026-06, Diamond Hill Long-Short Fund had net inflows of $173.19M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$45.61M |
| 2026-05 | $20.77M |
| 2026-04 | −$2.24M |
| 2026-03 | $520.79K |
| 2026-02 | −$6.97M |
| 2026-01 | −$38.58M |
DHFCX Debt Constituents
No individual debt constituents are reported in Diamond Hill Long-Short Fund's latest SEC N-PORT filing.
DHFCX Prospectus and SEC Filings
Official Diamond Hill Long-Short Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-02-25
- Prospectus (485BPOS) — filed 2025-02-25
- Prospectus (485BPOS) — filed 2024-02-26
- Portfolio holdings (N-PORT) — filed 2026-08-31
- Portfolio holdings (N-PORT) — filed 2026-06-01
- Portfolio holdings (N-PORT) — filed 2026-03-02
- Annual census (N-CEN) — filed 2026-03-16
- Annual census (N-CEN) — filed 2025-03-13
Related Funds
Other United States Large Cap Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.