Diamond Hill Small Mid Cap Fund Class I (DHMIX) NPORT-P/A Diamond Hill Large Cap Concentrated Fund (Mar 2021 report)

Diamond Hill Small Cap Fund

Schedule of Investments

March 31, 2021 (Unaudited)

Common Stocks - 96.9%	Shares		Fair Value
Communication Services - 2.0%
Live Nation Entertainment, Inc. (a)(b)		142,668	$	12,076,846
Consumer Discretionary - 15.7%
Carter's, Inc. (b)		60,349		5,366,837
Green Brick Partners, Inc. (b)		525,052		11,908,179
Hanesbrands, Inc.		608,474		11,968,684
PROG Holdings, Inc.		238,984		10,345,617
Red Rock Resorts, Inc., Class A (b)		817,758		26,650,733
Vail Resorts, Inc. (b)		73,561		21,454,801
Wolverine World Wide, Inc.		125,654		4,815,061
				92,509,912
Consumer Staples - 11.4%
Cal-Maine Foods, Inc. (b)		588,879		22,624,731
Flowers Foods, Inc.		345,566		8,224,471
Lancaster Colony Corp.		32,199		5,646,417
Post Holdings, Inc. (b)		186,443		19,710,754
Seaboard Corp.		2,950		10,885,471
				67,091,844
Energy - 2.2%
Bonanza Creek Energy, Inc. (b)		144,712		5,170,560
Cimarex Energy Co.		127,531		7,574,066
				12,744,626
Financials - 29.5%
Altabancorp (a)		105,206		4,422,860
Bank OZK		668,278		27,299,156
BankUnited, Inc.		125,000		5,493,750
BOK Financial Corp.		156,239		13,955,267
Cadence BanCorp		600,000		12,438,000
Enstar Group Ltd. (b)		80,665		19,902,475
First Interstate BancSystem, Inc., Class A		78,106		3,596,000
First of Long Island Corp. (The)		178,735		3,798,119
Live Oak Bancshares, Inc.		173,156		11,859,454
Mr. Cooper Group, Inc. (b)		373,651		12,988,109
ProAssurance Corp.		616,334		16,493,098
Reinsurance Group of America, Inc.		49,024		6,179,475

Diamond Hill Small Cap Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Common Stocks - 96.9% (Continued)	Shares		Fair Value
Financials - 29.5% (Continued)
RenaissanceRe Holdings Ltd.		34,191	$	5,479,108
Sterling Bancorp		1,293,010		29,765,090
Triumph Bancorp, Inc. (b)		6,202		479,973
				174,149,934
Health Care - 3.9%
Integer Holdings Corp. (b)		48,983		4,511,334
LivaNova plc (b)		107,858		7,952,370
Natus Medical, Inc. (b)		424,428		10,869,601
				23,333,305
Industrials - 15.4%
Allegiant Travel Co. (b)		46,663		11,388,572
Colfax Corp. (b)		368,677		16,151,739
Douglas Dynamics, Inc.		61,736		2,849,116
Hub Group, Inc., Class A (b)		59,970		4,034,782
Hyster-Yale Materials Handling, Inc.		30,735		2,677,633
Kirby Corp. (b)		193,912		11,689,015
Sensata Technologies Holding plc (b)		59,399		3,442,172
SPX FLOW, Inc.		165,809		10,500,684
Stericycle, Inc. (b)		135,062		9,118,036
TriMas Corp. (b)		154,117		4,672,827
WESCO International, Inc. (b)		168,633		14,591,814
				91,116,390
Information Technology - 4.7%
Broadridge Financial Solutions, Inc.		38,119		5,836,019
Sanmina Corp. (b)		113,554		4,698,865
WNS Holdings Ltd. - ADR (b)		241,219		17,473,904
				28,008,788
Materials - 3.7%
Ashland Global Holdings, Inc.		154,574		13,721,534
W.R. Grace & Co.		140,000		8,380,400
				22,101,934

Diamond Hill Small Cap Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Common Stocks - 96.9% (Continued)	Shares		Fair Value
Real Estate - 5.2%
American Campus Communities, Inc. REIT		7,008	$	302,535
CubeSmart REIT		563,936		21,333,699
Jones Lang LaSalle, Inc. (b)		14,811		2,651,761
Rayonier, Inc.		192,226		6,199,289
				30,487,284
Utilities - 3.2%
South Jersey Industries, Inc.		507,275		11,454,270
UGI Corp.		179,357		7,355,431
				18,809,701
Total Common Stocks (Cost $323,420,659)			$	572,430,564

Registered Investment Companies - 3.2%	Shares		Fair Value
State Street Institutional US Government Money Market Fund, Premier Class, 0.04% (c)		18,574,730	$	18,574,730
State Street Navigator Securities Lending Portfolio I, 0.10% (c) (d)		87,808		87,808
Total Registered Investment Companies (Cost $18,662,538)			$	18,662,538
Total Investment Securities - 100.1% (Cost $342,083,197)			$	591,093,102
Liabilities in Excess of Other Assets - (0.1)%				(564,290	)
Net Assets - 100.0%			$	590,528,812

(a)	All or a portion of the security is on loan.  The total fair value of the securities on loan as of March 31, 2021 was $12,111,992.
(b)	Non-income producing security.
(c)	The rate shown is 7-day effective yield as of March 31, 2021.
(d)	This security was purchased with cash collateral held from securities on loan.

ADR -	American Depositary Receipt
plc -	Public Limited Company
REIT -	Real Estate Investment Trust

See accompanying notes to Schedules of Investments.

Diamond Hill Small-Mid Cap Fund

Schedule of Investments

March 31, 2021 (Unaudited)

Common Stocks - 93.8%	Shares		Fair Value
Communication Services - 1.1%
Liberty Media Corp. - Liberty Formula One - Series C (a)(b)		546,551	$	23,660,193
Consumer Discretionary - 16.6%
Advance Auto Parts, Inc.		111,914		20,535,100
BorgWarner, Inc.		927,849		43,015,080
Carter's, Inc. (b)		171,842		15,281,909
Hanesbrands, Inc. (a)		2,461,471		48,417,135
NVR, Inc. (b)		11,211		52,814,236
Polaris, Inc.		135,113		18,037,585
PROG Holdings, Inc.		670,902		29,043,348
Red Rock Resorts, Inc., Class A (a)(b)		2,244,049		73,133,557
Vail Resorts, Inc. (b)		136,192		39,721,759
Wolverine World Wide, Inc. (a)		603,782		23,136,926
				363,136,635
Consumer Staples - 8.4%
Cal-Maine Foods, Inc. (a)(b)		1,267,630		48,702,345
Flowers Foods, Inc.		1,410,231		33,563,498
Molson Coors Beverage Co., Class B (a)(b)		260,239		13,311,225
Post Holdings, Inc. (b)		838,192		88,613,658
				184,190,726
Energy - 2.1%
Cimarex Energy Co.		785,543		46,653,399
Financials - 26.1%
Alleghany Corp. (b)		20,801		13,027,458
Bank OZK (a)		1,186,986		48,488,378
BankUnited, Inc.		1,173,831		51,589,872
BOK Financial Corp.		583,191		52,090,620
Brighthouse Financial, Inc. (a)(b)		521,647		23,082,880
Brown & Brown, Inc.		308,464		14,099,889
Cadence BanCorp		712,137		14,762,600
Enstar Group Ltd. (b)		86,697		21,390,751
First Republic Bank		218,422		36,421,868
Loews Corp.		594,849		30,503,857
Mr. Cooper Group, Inc. (a)(b)		1,097,316		38,142,704

Diamond Hill Small-Mid Cap Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Common Stocks - 93.8% (Continued)	Shares		Fair Value
Financials - 26.1% (Continued)
ProAssurance Corp. (a)		1,133,297	$	30,327,028
Reinsurance Group of America, Inc.		270,910		34,148,205
RenaissanceRe Holdings Ltd.		210,360		33,710,190
Sterling Bancorp		3,422,786		78,792,534
SVB Financial Group (b)		100,830		49,775,738
				570,354,572
Health Care - 2.9%
Boston Scientific Corp. (b)		345,522		13,354,425
Integer Holdings Corp. (b)		173,160		15,948,036
LivaNova plc (b)		468,964		34,576,716
				63,879,177
Industrials - 18.0%
Alaska Air Group, Inc. (b)		153,043		10,592,106
Allegiant Travel Co. (b)		172,404		42,076,920
Colfax Corp. (a)(b)		1,436,932		62,951,991
Hub Group, Inc., Class A (b)		197,002		13,254,295
Kirby Corp. (a)(b)		882,176		53,177,569
Sensata Technologies Holding plc (b)		1,123,514		65,107,636
SPX FLOW, Inc.		357,035		22,611,026
Stericycle, Inc. (b)		491,613		33,188,794
WESCO International, Inc. (a)(b)		1,035,590		89,609,603
				392,569,940
Information Technology - 4.5%
Avnet, Inc.		255,350		10,599,578
Broadridge Financial Solutions, Inc.		72,960		11,170,176
Juniper Networks, Inc.		592,755		15,014,484
Sanmina Corp. (b)		724,886		29,995,783
WNS Holdings Ltd. - ADR (a)(b)		421,204		30,512,018
				97,292,039
Materials - 3.1%
Ashland Global Holdings, Inc.		473,990		42,076,092

Diamond Hill Small-Mid Cap Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Common Stocks - 93.8% (Continued)	Shares		Fair Value
Materials - 3.1% (Continued)
W.R. Grace & Co.		442,551	$	26,491,103
				68,567,195
Real Estate - 7.0%
CubeSmart REIT		1,722,238		65,152,263
Douglas Emmett, Inc.		730,522		22,938,391
Jones Lang LaSalle, Inc. (a)(b)		68,095		12,191,729
Mid-America Apartment Communities, Inc. REIT		130,761		18,876,658
Rayonier, Inc.		708,436		22,847,061
UDR, Inc.		232,494		10,197,187
				152,203,289
Utilities - 4.0%
South Jersey Industries, Inc. (a)		1,449,899		32,738,719
UGI Corp.		1,315,475		53,947,630
				86,686,349
Total Common Stocks (Cost $1,430,191,581)			$	2,049,193,514

Registered Investment Companies - 8.5%	Shares		Fair Value
Diamond Hill Short Duration Securitized Bond Fund, Class Y (c)		2,657,702	$	27,055,402
State Street Institutional US Government Money Market Fund, Premier Class, 0.04% (d)		105,026,826		105,026,826
State Street Navigator Securities Lending Portfolio I, 0.10% (d) (e)		52,904,741		52,904,741
Total Registered Investment Companies (Cost $184,646,471)			$	184,986,969
Total Investment Securities - 102.3% (Cost $1,614,838,052)			$	2,234,180,483
Liabilities in Excess of Other Assets - (2.3)%				(50,090,819	)
Net Assets - 100.0%			$	2,184,089,664

(a)	All or a portion of the security is on loan.  The total fair value of the securities on loan as of March 31, 2021 was $78,723,121.
(b)	Non-income producing security.
(c)	Affiliated Fund.
(d)	The rate shown is the 7-day effective yield as of March 31, 2021.
(e)	This security was purchased with cash collateral held from securities on loan.

Diamond Hill Small-Mid Cap Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

ADR -	American Depositary Receipt
plc -	Public Limited Company
REIT -	Real Estate Investment Trust

See accompanying notes to Schedules of Investments.

Diamond Hill Mid Cap Fund

Schedule of Investments

March 31, 2021 (Unaudited)

Common Stocks - 93.1%	Shares		Fair Value
Communication Services - 1.0%
Liberty Media Corp. - Liberty Formula One - Series C (a)		68,630	$	2,970,993
Consumer Discretionary - 16.0%
Advance Auto Parts, Inc.		14,889		2,731,983
BorgWarner, Inc.		121,596		5,637,191
Carter's, Inc. (a)		20,064		1,784,292
Hanesbrands, Inc.		281,196		5,531,125
NVR, Inc. (a)		1,465		6,901,512
Polaris, Inc.		17,178		2,293,263
PROG Holdings, Inc.		61,697		2,670,863
Red Rock Resorts, Inc., Class A (a)		287,136		9,357,762
Vail Resorts, Inc. (a)		17,655		5,149,257
VF Corp.		38,422		3,070,686
				45,127,934
Consumer Staples - 8.1%
Archer-Daniels-Midland Co.		114,014		6,498,798
Flowers Foods, Inc.		119,432		2,842,482
Molson Coors Beverage Co., Class B (a)		62,423		3,192,936
Post Holdings, Inc. (a)		96,373		10,188,554
				22,722,770
Energy - 1.6%
Cimarex Energy Co.		75,609		4,490,418
Financials - 27.9%
American International Group, Inc.		142,509		6,585,341
Bank OZK		125,736		5,136,316
BankUnited, Inc.		111,700		4,909,215
BOK Financial Corp.		43,654		3,899,175
Brighthouse Financial, Inc. (a)		69,394		3,070,684
Discover Financial Services		30,602		2,906,884
Enstar Group Ltd. (a)		9,198		2,269,423
First Republic Bank		49,393		8,236,283

Diamond Hill Mid Cap Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Common Stocks - 93.1% (Continued)	Shares		Fair Value
Financials - 27.9% (Continued)
Franklin Resources, Inc.		48,771	$	1,443,622
Hartford Financial Services Group, Inc. (The)		78,062		5,213,761
Loews Corp.		222,517		11,410,672
Mr. Cooper Group, Inc. (a)		101,777		3,537,769
Reinsurance Group of America, Inc.		16,360		2,062,178
RenaissanceRe Holdings Ltd.		16,884		2,705,661
Sterling Bancorp		326,948		7,526,343
SVB Financial Group (a)		15,435		7,619,642
				78,532,969
Health Care - 1.7%
Boston Scientific Corp. (a)		121,036		4,678,041
Industrials - 16.3%
Alaska Air Group, Inc. (a)		72,717		5,032,744
Colfax Corp. (a)		170,775		7,481,653
Hub Group, Inc., Class A (a)		17,628		1,186,012
Kirby Corp. (a)		106,671		6,430,128
Parker-Hannifin Corp.		24,363		7,684,821
Sensata Technologies Holding plc (a)		118,481		6,865,974
Stericycle, Inc. (a)		63,850		4,310,513
WESCO International, Inc. (a)		78,151		6,762,406
				45,754,251
Information Technology - 6.1%
Avnet, Inc.		32,720		1,358,207
Check Point Software Technologies Ltd. (a)		75,439		8,446,905
Cognizant Technology Solutions Corp., Class A		55,139		4,307,459
NXP Semiconductors NV		14,762		2,972,181
				17,084,752
Materials - 3.3%
Ashland Global Holdings, Inc.		64,900		5,761,173
W.R. Grace & Co.		57,613		3,448,714
				9,209,887
Real Estate - 7.4%
CubeSmart REIT		216,493		8,189,930
Douglas Emmett, Inc.		96,726		3,037,196

Diamond Hill Mid Cap Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Common Stocks - 93.1% (Continued)	Shares		Fair Value
Real Estate - 7.4% (Continued)
Jones Lang LaSalle, Inc. (a)		8,839	$	1,582,535
Mid-America Apartment Communities, Inc. REIT		18,230		2,631,683
Rayonier, Inc.		45,162		1,456,474
UDR, Inc.		29,918		1,312,203
Weyerhaeuser Co.		77,897		2,773,133
				20,983,154
Utilities - 3.7%
South Jersey Industries, Inc.		154,645		3,491,884
UGI Corp.		171,480		7,032,395
				10,524,279
Total Common Stocks (Cost $180,781,372)			$	262,079,448

Registered Investment Companies - 6.8%	Shares		Fair Value
Diamond Hill Short Duration Securitized Bond Fund, Class Y (b)		162,263	$	1,651,834
State Street Institutional US Government Money Market Fund, Premier Class, 0.04% (c)		17,547,415		17,547,415
Total Registered Investment Companies (Cost $19,182,728)			$	19,199,249
Total Investment Securities - 99.9% (Cost $199,964,100)			$	281,278,697
Other Assets in Excess of Liabilities - 0.1%				144,608
Net Assets - 100.0%			$	281,423,305

(a)	Non-income producing security.
(b)	Affiliated Fund.
(c)	The rate shown is the 7-day effective yield as of March 31, 2021.

NV -	Naamloze Vennootschap
plc -	Public Limited Company
REIT -	Real Estate Investment Trust

See accompanying notes to Schedules of Investments. 

Diamond Hill Large Cap Fund

Schedule of Investments

March 31, 2021 (Unaudited)

Common Stocks - 95.5%	Shares		Fair Value
Communication Services - 10.3%
Charter Communications, Inc., Class A (a)		285,879	$	176,393,061
Comcast Corp., Class A		3,106,048		168,068,257
Facebook, Inc., Class A (a)		784,943		231,189,262
Verizon Communications, Inc.		2,209,962		128,509,290
Walt Disney Co. (The) (a)		1,719,347		317,253,908
Zynga, Inc., Class A (a)		8,854,117		90,400,535
				1,111,814,313
Consumer Discretionary - 12.0%
Booking Holdings, Inc. (a)		87,220		203,208,645
BorgWarner, Inc.		3,077,000		142,649,720
General Motors Co. (a)		4,734,853		272,064,653
Hanesbrands, Inc.		6,982,314		137,342,116
NVR, Inc. (a)		53,964		254,220,626
O'Reilly Automotive, Inc. (a)		154,339		78,288,458
VF Corp.		2,596,756		207,532,740
				1,295,306,958
Consumer Staples - 11.2%
Archer-Daniels-Midland Co.		2,570,748		146,532,636
Kimberly-Clark Corp.		1,517,015		210,940,936
Mondelēz International, Inc., Class A		4,759,323		278,563,175
PepsiCo, Inc.		2,027,280		286,758,756
Procter & Gamble Co. (The)		2,132,873		288,854,990
				1,211,650,493
Energy - 2.3%
Chevron Corp.		2,412,520		252,807,971
Financials - 26.1%
American International Group, Inc.		9,659,100		446,347,011
Bank of America Corp.		8,450,778		326,960,601
Berkshire Hathaway, Inc., Class B (a)		1,343,338		343,182,559
Charles Schwab Corp. (The)		3,364,931		219,326,203
First Republic Bank		932,768		155,539,064

Diamond Hill Large Cap Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Common Stocks - 95.5% (Continued)	Shares		Fair Value
Financials - 26.1% (Continued)
Hartford Financial Services Group, Inc. (The)		3,411,639	$	227,863,369
JPMorgan Chase & Co.		507,908		77,318,835
KKR & Co., Inc.		6,493,193		317,192,478
Marsh & McLennan Cos., Inc.		1,328,347		161,792,665
MetLife, Inc.		2,491,588		151,463,634
Morgan Stanley		2,434,418		189,056,902
Truist Financial Corp.		3,583,269		208,976,248
				2,825,019,569
Health Care - 12.7%
Abbott Laboratories		3,375,247		404,489,600
AbbVie, Inc.		1,230,184		133,130,512
Gilead Sciences, Inc.		1,479,093		95,593,781
Humana, Inc.		570,900		239,349,825
Medtronic plc		2,414,316		285,203,149
Pfizer, Inc.		5,958,315		215,869,752
				1,373,636,619
Industrials - 7.7%
Carrier Global Corp.		3,173,050		133,966,171
Caterpillar, Inc.		640,838		148,591,107
Deere & Co.		178,713		66,863,682
Honeywell International, Inc.		631,713		137,125,941
L3Harris Technologies, Inc.		650,068		131,755,782
Parker-Hannifin Corp.		676,862		213,502,581
				831,805,264
Information Technology - 6.2%
Cognizant Technology Solutions Corp., Class A		2,708,259		211,569,193
Fidelity National Information Services, Inc.		1,500,572		210,995,429
Texas Instruments, Inc.		571,824		108,069,018
Visa, Inc., Class A (b)		663,485		140,479,679
				671,113,319
Materials - 2.5%
Linde plc		558,526		156,465,474
Sherwin-Williams Co. (The)		156,352		115,389,339
				271,854,813

Diamond Hill Large Cap Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Common Stocks - 95.5% (Continued)	Shares		Fair Value
Real Estate - 3.3%
Public Storage REIT		553,918	$	136,684,806
SBA Communications Corp.		257,068		71,349,223
Weyerhaeuser Co.		4,323,991		153,934,080
				361,968,109
Utilities - 1.2%
Dominion Energy, Inc.		1,771,974		134,599,145
Total Common Stocks (Cost $7,216,001,975)			$	10,341,576,573

Registered Investment Companies - 4.7%	Shares		Fair Value
State Street Institutional US Government Money Market Fund, Premier Class, 0.04% (c)		473,802,405	$	473,802,405
State Street Navigator Securities Lending Portfolio I, 0.10% (c)(d)		30,076,266		30,076,266
Total Registered Investment Companies (Cost $503,878,671)			$	503,878,671
Total Investment Securities - 100.2% (Cost $7,719,880,646)			$	10,845,455,244
Liabilities in Excess of Other Assets -��(0.2)%				(21,756,504	)
Net Assets - 100.0%			$	10,823,698,740

(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 March 31, 2021 was $127,558,856.
(c)	The rate shown is the 7-day effective yield as of March 31, 2021.
(d)	This security was purchased with cash collateral held from securities on loan.

plc -	Public Limited Company
REIT -	Real Estate Investment Trust

See accompanying notes to Schedules of Investments.

Diamond Hill Large Cap Concentrated Fund

Schedule of Investments

March 31, 2021 (Unaudited)

Common Stocks - 97.2%	Shares		Fair Value
Communication Services - 8.5%
Charter Communications, Inc., Class A (a)		545	$	336,276
Walt Disney Co. (The) (a)		3,070		566,476
				902,752
Consumer Discretionary - 12.9%
General Motors Co. (a)		9,010		517,714
NVR, Inc. (a)		103		485,226
VF Corp.		4,520		361,238
				1,364,178
Consumer Staples - 15.7%
Mondelēz International, Inc., Class A		9,900		579,447
PepsiCo, Inc.		4,075		576,409
Procter & Gamble Co. (The)		3,735		505,831
				1,661,687
Energy - 4.3%
Chevron Corp.		4,325		453,217
Financials - 28.6%
American International Group, Inc.		18,145		838,480
Bank of America Corp.		13,200		510,708
Berkshire Hathaway, Inc., Class B (a)		2,605		665,499
Charles Schwab Corp. (The)		7,450		485,591
KKR & Co., Inc.		10,860		530,511
				3,030,789
Health Care - 15.6%
Abbott Laboratories		6,395		766,377
Humana, Inc.		1,060		444,405
Pfizer, Inc.		12,090		438,021
				1,648,803
Industrials - 4.0%
Parker-Hannifin Corp.		1,335		421,099

Diamond Hill Large Cap Concentrated Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Common Stocks - 97.2% (Continued)	Shares		Fair Value
Information Technology - 7.6%
Cognizant Technology Solutions Corp., Class A		5,225	$	408,177
Fidelity National Information Services, Inc.		2,785		391,599
				799,776
Total Common Stocks (Cost $9,715,791)			$	10,282,301

Registered Investment Companies - 2.8%	Shares		Fair Value
State Street Institutional US Government Money Market Fund, Premier Class, 0.04% (b) (Cost $299,859)		299,859	$	299,859
Total Investment Securities - 100.0% (Cost $10,015,650)			$	10,582,160
Liabilities in Excess of Other Assets - (0.0)% (c)				(1,010	)
Net Assets - 100.0%			$	10,581,150

(a)	Non-income producing security.
(b)	The rate shown is the 7-day effective yield as of March 31, 2021.
(c)	Percentage rounds to less than 0.1%.

See accompanying notes to Schedules of Investments. 

Diamond Hill All Cap Select Fund

Schedule of Investments

March 31, 2021 (Unaudited)

Common Stocks - 98.2%	Shares		Fair Value
Communication Services - 7.1%
Facebook, Inc., Class A (a)		39,856	$	11,738,788
Walt Disney Co. (The) (a)		40,006		7,381,907
Zynga, Inc., Class A (a)		600,594		6,132,065
				25,252,760
Consumer Discretionary - 11.5%
Booking Holdings, Inc. (a)		2,656		6,188,055
Hanesbrands, Inc.		814,739		16,025,916
Red Rock Resorts, Inc., Class A (a)		352,633		11,492,309
VF Corp.		88,882		7,103,449
				40,809,729
Consumer Staples - 12.5%
Cal-Maine Foods, Inc. (a)		372,314		14,304,304
Mondelēz International, Inc., Class A		160,971		9,421,633
Post Holdings, Inc. (a)		72,013		7,613,214
Seaboard Corp.		3,555		13,117,914
				44,457,065
Financials - 32.4%
Alleghany Corp. (a)		7,176		4,494,257
American International Group, Inc.		504,887		23,330,828
Bank OZK		194,803		7,957,703
Berkshire Hathaway, Inc., Class B (a)		70,336		17,968,738
Cadence BanCorp		324,090		6,718,386
Charles Schwab Corp. (The)		111,291		7,253,947
KKR & Co., Inc.		328,594		16,051,817
Mr. Cooper Group, Inc. (a)		654,076		22,735,682
Sterling Bancorp		381,446		8,780,887
				115,292,245
Health Care - 6.8%
AbbVie, Inc.		75,993		8,223,962
Boston Scientific Corp. (a)		196,917		7,610,842
Pfizer, Inc.		228,885		8,292,504
				24,127,308

Diamond Hill All Cap Select Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Common Stocks - 98.2% (Continued)	Shares		Fair Value
Industrials - 14.3%
Cimpress plc (a)		79,203	$	7,930,596
Colfax Corp. (a)		128,243		5,618,326
Kirby Corp. (a)		183,223		11,044,682
Sensata Technologies Holding plc (a)		98,199		5,690,632
WESCO International, Inc. (a)		236,187		20,437,261
				50,721,497
Information Technology - 6.3%
Cognizant Technology Solutions Corp., Class A		129,926		10,149,819
Fidelity National Information Services, Inc.		54,052		7,600,252
Visa, Inc., Class A		22,596		4,784,251
				22,534,322
Materials - 4.9%
Ashland Global Holdings, Inc.		60,457		5,366,768
W.R. Grace & Co.		197,813		11,841,086
				17,207,854
Real Estate - 0.4%
SBA Communications Corp.		5,516		1,530,966
Utilities - 2.0%
UGI Corp.		173,282		7,106,295
Total Common Stocks (Cost $230,461,030)			$	349,040,041

Registered Investment Companies - 1.3%	Shares		Fair Value
State Street Institutional US Government Money Market Fund, Premier Class, 0.04% (b) (Cost $4,666,169)		4,666,169	$	4,666,169
Total Investment Securities - 99.5% (Cost $235,127,199)			$	353,706,210

Diamond Hill All Cap Select Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

	Fair Value
Other Assets in Excess of Liabilities - 0.5%		1,749,043
Net Assets - 100.0%	$	355,455,253

(a)	Non-income producing security.
(b)	The rate shown is the 7-day effective yield as of March 31, 2021.

plc - Public Limited Company

See accompanying notes to Schedules of Investments. 

Diamond Hill Long-Short Fund

Schedule of Investments

March 31, 2021 (Unaudited)

Common Stocks - 91.1%	Shares		Fair Value
Communication Services - 10.8%
Alphabet, Inc., Class A (a)		27,755	$	57,245,243
Comcast Corp., Class A		841,574		45,537,569
Facebook, Inc., Class A (a)		182,724		53,817,700
Verizon Communications, Inc. (b)		308,425		17,934,914
Walt Disney Co. (The) (a)		238,544		44,016,139
				218,551,565
Consumer Discretionary - 8.3%
Booking Holdings, Inc. (a)(b)		14,670		34,178,753
BorgWarner, Inc.		751,483		34,838,752
Hanesbrands, Inc. (b)(c)		1,301,530		25,601,095
TJX Cos., Inc. (The) (b)		559,571		37,015,622
VF Corp. (b)		445,809		35,629,055
				167,263,277
Consumer Staples - 4.9%
Archer-Daniels-Midland Co. (b)		629,693		35,892,501
Constellation Brands, Inc., Class A (b)		109,624		24,994,272
Mondelēz International, Inc., Class A (b)		657,455		38,480,841
				99,367,614
Energy - 3.1%
Chevron Corp. (b)		352,119		36,898,550
Cimarex Energy Co. (c)		434,274		25,791,533
				62,690,083
Financials - 28.7%
American International Group, Inc. (b)(c)		1,769,905		81,787,310
Bank of America Corp. (b)		1,089,340		42,146,565
Bank OZK (b)		453,235		18,514,650
Berkshire Hathaway, Inc., Class B (a)(b)		271,269		69,301,091
Charles Schwab Corp. (The) (b)		459,399		29,943,627
Citigroup, Inc. (b)(c)		1,045,306		76,046,011
First Republic Bank (b)(c)		127,240		21,217,270
Hartford Financial Services Group, Inc. (The) (c)		645,431		43,108,336
JPMorgan Chase & Co. (b)		118,494		18,038,342

Diamond Hill Long-Short Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Common Stocks - 91.1% (Continued)	Shares		Fair Value
Financials - 28.7% (Continued)
KKR & Co., Inc. (c)		1,227,825	$	59,979,251
MetLife, Inc. (c)		490,684		29,828,680
Morgan Stanley (c)		353,102		27,421,901
SVB Financial Group (a)(b)		43,344		21,397,199
Truist Financial Corp. (b)		731,910		42,684,991
				581,415,224
Health Care - 11.3%
Abbott Laboratories (b)(c)		293,177		35,134,332
AbbVie, Inc. (b)		160,336		17,351,562
CVS Health Corp. (b)		340,129		25,587,905
Humana, Inc.		116,850		48,989,362
Medtronic plc (b)(c)		381,969		45,121,998
Perrigo Co. plc (b)(c)		493,244		19,961,585
Pfizer, Inc. (b)		1,043,045		37,789,520
				229,936,264
Industrials - 9.7%
Alaska Air Group, Inc. (a)(b)		318,408		22,037,018
Johnson Controls International plc (b)		548,305		32,717,359
Kirby Corp. (a)(b)(c)		696,948		42,012,025
L3Harris Technologies, Inc. (b)		156,655		31,750,835
Parker-Hannifin Corp. (b)(c)		119,836		37,799,869
Sensata Technologies Holding plc (a)(b)		539,403		31,258,404
				197,575,510
Information Technology - 9.3%
Cognizant Technology Solutions Corp., Class A		551,915		43,115,600
Fidelity National Information Services, Inc. (b)		325,626		45,786,272
Microsoft Corp. (c)		172,477		40,664,902
Texas Instruments, Inc. (b)		149,926		28,334,515
Visa, Inc., Class A (b)		147,157		31,157,552
				189,058,841
Materials - 3.6%
Ashland Global Holdings, Inc. (c)		306,379		27,197,264
Sherwin-Williams Co. (The) (b)		22,218		16,397,106

Diamond Hill Long-Short Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Common Stocks - 91.1% (Continued)	Shares		Fair Value
Materials - 3.6% (Continued)
W.R. Grace & Co.		496,544	$	29,723,124
				73,317,494
Utilities - 1.4%
Dominion Energy, Inc. (b)		361,630		27,469,415
Total Common Stocks (Cost $1,039,817,054)			$	1,846,645,287

Registered Investment Companies - 24.8%	Shares		Fair Value
Diamond Hill Short Duration Securitized Bond Fund, Class Y (d)		3,475,019	$	35,375,689
State Street Institutional US Government Money Market Fund, Premier Class, 0.04% (e)		132,960,868		132,960,868
State Street Navigator Securities Lending Portfolio I, 0.10% (e)(f)		334,435,674		334,435,674
Total Registered Investment Companies (Cost $502,265,733)			$	502,772,231
Total Investment Securities - 115.9% (Cost $1,542,082,787)			$	2,349,417,518
Segregated Cash With Custodian - 30.0%				608,998,883
Investments Sold Short - (29.7)% (Proceeds $476,177,757)				(603,075,867	)
Liabilities in Excess of Other Assets - (16.2)%				(327,313,873	)
Net Assets - 100.0%			$	2,028,026,661

(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 March 31, 2021 was $325,380,971.
(c)	All or a portion of the shares have been pledged as collateral for open short positions.
(d)	Affiliated Fund.
(e)	The rate shown is the 7-day effective yield as of March 31, 2021.

^(f) This security was purchased with cash collateral held from securities on loan.

plc - Public Limited Company

See accompanying notes to Schedules of Investments.

Diamond Hill Long-Short Fund

Schedule of Investments Sold Short

March 31, 2021 (Unaudited)

Common Stocks - 29.7%	Shares		Fair Value
Communication Services - 0.9%
Cogent Communications Holdings, Inc.		254,325	$	17,487,387
Consumer Discretionary - 6.8%
Asbury Automotive Group, Inc.		80,306		15,780,129
Best Buy Co., Inc.		214,906		24,673,358
Cheesecake Factory, Inc. (The)		115,533		6,759,836
Dick's Sporting Goods, Inc.		285,646		21,751,943
Grand Canyon Education, Inc.		157,162		16,832,050
Macy's, Inc.		363,055		5,877,860
Tesla, Inc.		23,074		15,411,817
Under Armour, Inc., Class A		909,009		20,143,639
Whirlpool Corp.		51,110		11,262,089
				138,492,721
Consumer Staples - 4.1%
Boston Beer Co., Inc. (The), Class A		18,103		21,837,287
Brown-Forman Corp., Class B		447,060		30,833,728
WD-40 Co.		96,455		29,532,592
				82,203,607
Financials - 5.2%
Bank of Hawaii Corp.		161,345		14,438,764
Blackstone Mortgage Trust, Inc., Class A		645,515		20,010,965
Commerce Bancshares, Inc.		373,416		28,607,400
FactSet Research Systems, Inc.		40,702		12,560,230
First Financial Bankshares, Inc.		417,238		19,497,532
Root, Inc., Class A		788,160		10,033,277
				105,148,168
Health Care - 2.2%
Penumbra, Inc.		92,230		24,955,593
Waters Corp.		70,100		19,920,317
				44,875,910
Industrials - 4.0%
Cintas Corp.		27,044		9,230,388
PACCAR, Inc.		172,432		16,022,381
Proto Labs, Inc.		103,420		12,591,385
Robert Half International, Inc.		347,683		27,143,612

Diamond Hill Long-Short Fund

Schedule of Investments Sold Short (Continued)

March 31, 2021 (Unaudited)

Common Stocks - 29.7% (continued)	Shares		Fair Value
Industrials - 4.0% (continued)
W.W. Grainger, Inc.		28,920	$	11,594,896
Wabtec Corp.		67,745		5,362,694
				81,945,356
Information Technology - 4.9%
Badger Meter, Inc.		248,026		23,083,780
Blackbaud, Inc.		181,362		12,891,211
Cisco Systems, Inc.		134,130		6,935,862
j2 Global, Inc.		171,799		20,591,828
Oracle Corp.		463,053		32,492,429
Western Union Co. (The)		131,109		3,233,148
				99,228,258
Materials - 0.2%
Silgan Holdings, Inc.		114,495		4,812,225
Real Estate - 0.3%
VEREIT, Inc.		146,346		5,651,883
Utilities - 1.1%
Ormat Technologies, Inc.		295,815		23,230,352
Total Investments Sold Short - 29.7% (Proceeds $476,177,757)			$	603,075,867

Percentages disclosed are based on total net assets of the Fund at March 31, 2021.

See accompanying notes to Schedules of Investments. 

Diamond Hill Global Fund

Schedule of Investments

March 31, 2021

Common Stocks - 97.2%	Shares		Fair Value
Canada - 5.2%
Rogers Communications, Inc., Class B		17,946	$	827,311
China - 1.2%
Alibaba Group Holding Ltd. (a)		4,400		125,019
Tencent Holdings Ltd.		800		63,848
				188,867
France - 5.1%
EssilorLuxottica SA		2,105		342,812
LVMH Moet Hennessy Louis Vuitton SE		295		196,984
Safran SA		2,029		275,913
				815,709
Germany - 2.4%
Beiersdorf AG		3,570		377,092
India - 1.0%
HDFC Bank Ltd. - ADR (a)		2,150		167,034
Israel - 6.0%
Check Point Software Technologies Ltd. (a)		8,525		954,544
Japan - 2.9%
KDDI Corp.		9,800		301,934
Nintendo Co. Ltd. - ADR		2,235		158,238
				460,172
Mexico - 2.4%
Fomento Economico Mexicano SAB de CV		50,965		384,022
South Korea - 0.9%
Samsung Electronics Co. Ltd.		2,025		147,051
Switzerland - 7.7%
Novartis AG - ADR		3,240		276,955
Roche Holdings AG		2,282		739,325
Swatch Group AG (The)		750		215,979
				1,232,259

Diamond Hill Global Fund

Schedule of Investments (Continued)

March 31, 2021

Common Stocks - 97.1% (continued)	Shares		Fair Value
United Kingdom - 12.4%
Ashmore Group plc		37,862	$	204,178
Diageo plc		15,654		643,040
Sage Group plc (The)		29,590		249,963
Unilever plc		15,687		875,544
				1,972,725
United States - 50.0%
Abbott Laboratories		2,590		310,386
Alphabet, Inc., Class A (a)		190		391,879
Berkshire Hathaway, Inc., Class B (a)		3,011		769,220
Booking Holdings, Inc. (a)		139		323,848
Charles Schwab Corp. (The)		7,830		510,359
Chevron Corp.		6,025		631,360
Comcast Corp., Class A		6,004		324,876
Constellation Brands, Inc., Class A		1,525		347,700
Liberty Media Corp. - Liberty Formula One, Series C (a)		3,800		164,502
Medtronic plc		2,770		327,220
Microsoft Corp.		1,340		315,932
Mondelēz International, Inc., Class A		4,951		289,782
Morgan Stanley		2,024		157,184
NXP Semiconductors NV		1,095		220,467
PepsiCo, Inc.		3,070		434,251
Procter & Gamble Co. (The)		3,060		414,416
Texas Instruments, Inc.		980		185,210
Verizon Communications, Inc.		14,338		833,755
Visa, Inc., Class A		1,395		295,363
Walt Disney Co. (The) (a)		2,658		490,454
Zynga, Inc., Class A (a)		23,915		244,172
				7,982,336
Total Common Stocks (Cost $13,070,903)			$	15,509,122

Diamond Hill Global Fund

Schedule of Investments (Continued)

March 31, 2021

Registered Investment Companies - 4.1%	Par Value		Fair Value
State Street Institutional US Government Money Market Fund, Premier Class, 0.04% (b) (Cost $662,786)		662,786	$	662,786
Total Investments at Value - 101.3% (Cost $13,733,689)			$	16,171,908
Liabilities in Excess of Other Assets - (1.3)%				(214,263	)
Net Assets - 100.0%			$	15,957,645

(a)	Non-income producing security.
(b)	The rate shown is the 7-day effective yield as of March 31, 2021.

ADR -	American Depositary Receipt
AG -	Aktiengesellschaft
NV -	Naamloze Vennootschap
plc -	Public Limited Company
SA -	Societe Anonyme
SAB de CV-	Societe Anonima Bursatil de Capital Variable
SE -	Societe Europaea

See accompanying notes to Schedules of Investments. 

Diamond Hill International Fund

Schedule of Investments

March 31, 2021

Common Stocks - 98.2%	Shares		Fair Value
Belgium - 4.3%
Anheuser-Busch InBev SA/NV		9,549	$	600,089
Shurgard Self Storage SA		4,750		216,272
				816,361
Canada - 6.7%
Aurinia Pharmaceuticals, Inc. (a)(b)		9,495		123,293
BlackBerry Ltd. (a)(b)		33,217		280,019
Fairfax Financial Holdings Ltd.		868		378,846
Rogers Communications, Inc., Class B (b)		10,950		504,795
				1,286,953
China - 6.2%
Alibaba Group Holding Ltd. (a)		14,500		411,993
Baidu, Inc. - ADR (a)		1,189		258,667
Fu Shou Yuan International Group Ltd.		184,000		189,205
Tencent Holdings Ltd.		4,200		335,200
				1,195,065
France - 7.5%
EssilorLuxottica SA		1,928		313,986
LVMH Moet Hennessy Louis Vuitton SE		354		236,381
Safran SA (a)		3,453		469,556
Vivendi SE		12,726		417,583
				1,437,506
Germany - 1.0%
Fuchs Petrolub SE		4,705		189,330
India - 2.4%
HDFC Bank Ltd. - ADR (a)		5,996		465,829
Israel - 2.7%
Check Point Software Technologies Ltd. (a)(b)		4,664		522,228
Italy - 1.2%
doValue S.p.A. (a)		18,611		226,752
Japan - 3.6%
Astellas Pharma, Inc.		23,600		363,528

Diamond Hill International Fund

Schedule of Investments (Continued)

March 31, 2021

Common Stocks - 98.2% (continued)	Shares		Fair Value
Japan - 3.6% (continued)
Nintendo Co. Ltd. - ADR		2,995	$	212,046
Shionogi & Co. Ltd.		2,000		107,966
				683,540
Mexico - 3.1%
Fomento Economico Mexicano SAB de CV		47,235		355,917
Grupo Aeroportuario del Sureste SAB de CV (a)		13,174		233,985
				589,902
Netherlands - 2.0%
Prosus NV (a)		3,457		384,570
South Korea - 2.6%
Samsung Electronics Co. Ltd.		6,804		494,093
Spain - 1.7%
Banco Bilbao Vizcaya Argentaria SA		63,082		328,627
Sweden - 1.9%
Assa Abloy AB, Class B		12,415		357,325
Switzerland - 11.0%
Compagnie Financiere Richemont SA, Class A		4,160		399,504
Julius Baer Group Ltd.		8,383		535,765
Novartis AG - ADR		4,316		368,932
Roche Holdings AG		1,371		444,178
Swatch Group AG (The)		1,201		345,854
				2,094,233
Taiwan  Province of China - 2.1%
Taiwan Semiconductor Manufacturing Co. Ltd. - ADR		3,414		403,808
Thailand - 2.5%
Kasikornbank pcl - NVDR		102,600		477,386

Diamond Hill International Fund

Schedule of Investments (Continued)

March 31, 2021

Common Stocks - 98.2% (continued)	Shares		Fair Value
United Kingdom - 25.4%
Ashmore Group plc		63,782	$	343,957
Beazley plc (a)		81,977		397,313
BT Group plc (a)		263,923		562,987
Bunzl plc		8,945		286,285
Compass Group plc (a)		12,100		244,447
Diageo plc		18,884		775,723
GlaxoSmithKline plc		13,019		230,455
Howden Joinery Group plc (a)		51,862		524,006
InterContinental Hotels Group plc		5,719		393,262
Sage Group plc (The)		20,825		175,920
Tesco plc		55,175		174,187
Unilever plc		13,445		750,410
				4,858,952
United States - 10.3%
Alphabet, Inc., Class A (a)		260		536,255
Facebook, Inc., Class A (a)		1,201		353,731
LivaNova plc (a)		4,332		319,398
Walt Disney Co. (The) (a)		4,087		754,133
				1,963,517
Total Common Stocks (Cost $15,958,987)			$	18,775,977

Warrants - 0.0% (c)	Shares		Fair Value
Switzerland - 0.0% (c)
Compagnie Financiere Richemont SA (Cost $0)		8,320	$	3,169

Registered Investment Companies - 7.9%	Par Value		Fair Value
State Street Institutional US Government Money Market Fund, Premier Class, 0.04% (d)		279,042		279,042
State Street Navigator Securities Lending Portfolio I, 0.10% (d)(e)		1,227,737		1,227,737

Diamond Hill International Fund

Schedule of Investments (Continued)

March 31, 2021

Registered Investment Companies - 7.9% (continued)	Par Value	Fair Value
Total Registered Investment Companies (Cost $1,506,779)		$	1,506,779
Total Investments at Value - 106.1% (Cost $17,465,766)		$	20,285,925
Liabilities in Excess of Other Assets - (6.1)%			(1,169,444	)
Net Assets - 100.0%		$	19,116,481

(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 March 31, 2021 was $1,264,772.
(c)	Percentage rounds to less than 0.1%.
(d)	The rate shown is the 7-day effective yield as of March 31, 2021.
(e)	This security was purchased with cash collateral held from securities on loan.

ADR -	American Depositary Receipt
AG -	Aktiengesellschaft
NV -	Naamloze Vennootschap
NVDR -	Non-Voting Depositary Receipt
pcl-	Public Company Limited
plc -	Public Limited Company
SA -	Societe Anonyme
SAB de CV-	Societe Anonima Bursatil de Capital Variable
SE -	Societe Europaea

See accompanying notes to Schedules of Investments.

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments

March 31, 2021 (Unaudited)

Corporate Credit - 1.4%	Coupon			Maturity	Shares / Par Value		Fair Value
Banking - 0.3%
Goldman Sachs Group, Inc. (3MO LIBOR + 111) (a)		1.325	%	04/26/22	$	450,000	$	450,257
JPMorgan Chase & Co. (3MO LIBOR + 100) (a)		1.241	%	01/15/23		400,000		402,724
JPMorgan Chase & Co.		0.653	%	09/16/24		350,000		350,681
Mizuho Financial Group, Inc.		2.273	%	09/13/21		500,000		504,320
PNC Bank NA (b)		1.743	%	02/24/23		420,000		425,198
Toronto-Dominion Bank (The) (3MO LIBOR + 43) (a)		0.607	%	06/11/21		1,000,000		1,000,875
Toronto-Dominion Bank (The) (SOFR + 48) (a)		0.490	%	01/27/23		375,000		376,575
								3,510,630
Capital Goods - 0.0% (c)
Welbilt, Inc. (b)		9.500	%	02/15/24		100,000		103,000
Communications - 0.0% (c)
Twenty-First Century Fox, Inc.		4.030	%	01/25/24		450,000		488,801
Consumer Cyclical - 0.2%
Daimler Finance LLC (d)		1.750	%	03/10/23		1,900,000		1,942,256
Ford Motor Credit Co. LLC		5.584	%	03/18/24		250,000		269,823
General Motors Financial Co., Inc.		3.200	%	07/06/21		25,000		25,109
								2,237,188
Electric - 0.0% (c)
DTE Energy Co.		1.050	%	06/01/25		500,000		493,480
Energy - 0.2%
Diamondback Energy, Inc.		5.375	%	05/31/25		767,000		791,382
Energy Transfer Operating LP		4.500	%	04/15/24		925,000		1,008,767
Welltec A/S (d)		9.500	%	12/01/22		200,000		197,000
WPX Energy, Inc.		5.250	%	09/15/24		1,000,000		1,108,750
								3,105,899
Insurance - 0.3%
Athene Global Funding (d)		2.500	%	01/14/25		1,450,000		1,502,026
Jackson National Life Global Funding (3MO LIBOR + 48) (a)(d)		0.657	%	06/11/21		950,000		950,742
Jackson National Life Global Funding (d)		2.100	%	10/25/21		200,000		201,924

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Corporate Credit - 1.4% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
Insurance - 0.3% (continued)
Met Life Global Funding I (d)		1.950	%	01/13/23	$	450,000	$	462,172
Principal Life Global Funding II (d)		2.375	%	11/21/21		400,000		405,460
								3,522,324
Technology - 0.1%
Dell International LLC (d)		4.000	%	07/15/24		500,000		542,608
Transportation - 0.3%
Alaska Airlines, Series 2020-1B, Class A (d)		4.800	%	08/15/27		480,295		525,841
American Airlines Pass-Through Trust, Series 2016-2, Class AA		3.200	%	12/15/29		1,619,000		1,612,334
U.S. Airways Pass-Through Trust, Series 2012-2, Class B		6.750	%	12/03/22		125,172		125,526
United Airlines Pass-Through Trust, Series 2013-1, Class B		5.375	%	02/15/23		60,380		61,013
United Airlines Pass-Through Trust, Series 2007-1, Class A		6.636	%	01/02/24		88,560		90,884
United Airlines Pass-Through Trust, Series 2020-1, Class A		5.875	%	04/15/29		1,170,990		1,298,269
								3,713,867
Total Corporate Credit (Cost $17,052,873)							$	17,717,797

Securitized - 81.0%	Coupon			Maturity	Shares / Par Value		Fair Value
ABS-Other - 5.7%
BXG Receivables, Series 2018-A, Class C (d)		4.440	%	02/02/34	$	1,136,049	$	1,173,300
Cascade Funding Mortgage Trust, Series 2021-GRN1, Class B (d)		1.830	%	03/20/41		3,588,000		3,526,873
Diamond Resorts Owner Trust, Series 2019-1, Class B (d)		3.530	%	02/20/32		685,786		703,100
FMC GMSR Issuer Trust, Series 2019-GT2, Class A (d)		4.230	%	09/25/24		5,000,000		4,987,151
FMC GMSR Issuer Trust, Series 2020-GT1, Class A (a)(d)		4.450	%	01/25/26		3,000,000		2,977,108

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 81.0% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
ABS-Other - 5.7% (continued)
Gold Key Resorts LLC, Series 2014-A, Class A (d)		3.220	%	03/17/31	$	64,202	$	64,975
Helios Issuer LLC, Series 2020-4, Class A (d)		2.980	%	06/20/47		1,878,642		1,940,891
Helios Issuer LLC, Series 2021-A, Class A (d)		1.800	%	02/20/48		1,286,779		1,271,449
Hero Funding Trust, Series 2016-3B, Class B (d)		5.240	%	09/20/42		98,101		99,043
Hero Funding Trust, Series 2016-4B, Class B (d)		4.990	%	09/20/47		618,296		631,590
Holiday Inn Timeshare Trust, Series 2020-A, Class C (d)		3.420	%	10/09/39		489,528		507,783
Holiday Inn Timeshare Trust, Series 2020-A, Class D (d)		5.500	%	10/09/39		851,353		883,704
Holiday Inn Timeshare Trust, Series 2020-A, Class E (d)		6.500	%	10/09/39		1,702,706		1,742,284
Loanpal Solar Loan Ltd., Series 2021-1GS, Class A (d)		2.290	%	01/20/48		3,583,251		3,583,390
Loanpal Solar Loan Ltd., Series 2021-2GS, Class A (d)		2.220	%	03/20/48		2,600,000		2,599,314
Mosaic Solar Loans LLC, Series 2017-2A, Class D (d)		0.000	%	06/22/43		974,557		953,382
Mosaic Solar Loans LLC, Series 2017-2, Class B (d)		4.770	%	06/22/43		644,859		698,343
Mosaic Solar Loans LLC, Series 2020-1, Class A (d)		2.100	%	04/20/46		2,489,183		2,513,008
Mosaic Solar Loans LLC, Series 2020-1A, Class B (d)		3.100	%	04/20/46		1,991,347		2,035,664
OCWEN Master Advance Receivables Trust, Series 2020-T1, Class E-T1 (d)		5.419	%	08/15/52		2,000,000		2,011,060
PNMAC GMSR Issuer Trust, Series 2018-GT1, Class A (1MO LIBOR + 285) (a)(d)		2.968	%	02/25/23		7,000,000		6,991,632
PNMAC GMSR Issuer Trust, Series 2018-GT2, Class NT (1MO LIBOR + 265) (a)(d)		2.768	%	08/25/23		9,400,000		9,353,260
Renew Financial LLC, Series 2017-1, Class B (d)		5.750	%	09/20/52		655,326		672,333
SPS Servicer Advance Receivables, Series 2020-T1, Class DT1 (d)		2.370	%	11/15/52		700,000		702,692

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 81.0% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
ABS-Other - 5.7% (continued)
SPS Servicer Advance Receivables, Series 2020-T2, Class D (d)		3.160	%	11/15/55	$	3,000,000	$	2,927,590
TES LLC, Series 2017-1, Class A (d)		4.330	%	10/20/47		4,302,817		4,472,523
TES LLC, Series 2017-1, Class B (d)		7.740	%	10/20/47		2,000,000		1,968,525
Westgate Resorts, Series 2018-1, Class B (d)		3.580	%	12/20/31		759,990		757,950
Westgate Resorts, Series 2018-1, Class C (d)		4.100	%	12/20/31		1,813,612		1,800,827
Westgate Resorts, Series 2020-1, Class B (d)		3.963	%	03/20/34		1,294,058		1,335,989
Westgate Resorts, Series 2020-1A, Class C (d)		6.213	%	03/20/34		4,724,340		4,981,049
								70,867,782
Agency MBS CMO - 1.1%
FHLMC, Series 2979, Class FP (1MO LIBOR + 45) (a)		0.556	%	05/15/35		393,791		397,593
FHLMC, Series 3121, Class FM (1MO LIBOR + 40) (a)		0.506	%	03/15/36		408,307		411,369
FHLMC, Series 4613, Class AF (1MO LIBOR + 110) (a)		1.206	%	11/15/37		758,613		761,888
FHLMC, Series 4085, Class FB (1MO LIBOR + 40) (a)		0.506	%	01/15/39		176,098		176,439
FHLMC, Series 4095, Class FB (1MO LIBOR + 40) (a)		0.506	%	04/15/39		77,471		77,631
FHLMC, Series 3925, Class FL (1MO LIBOR + 45) (a)		0.556	%	01/15/41		217,243		218,368
FHLMC, Series 3895, Class BF (1MO LIBOR + 50) (a)		0.606	%	07/15/41		336,076		339,641
FHLMC, Series 4314, Class PF (1MO LIBOR + 40) (a)		0.506	%	07/15/43		206,654		207,544
FHLMC, Series 4972, Class ZC		2.500	%	05/25/50		273,570		273,163
FNMA, Series 2006-56, Class DC (1MO LIBOR + 65) (a)		0.759	%	07/25/36		820,023		822,874
FNMA, Series 2006-108, Class FD (1MO LIBOR + 38) (a)		0.489	%	11/25/36		335,100		338,979
FNMA, Series 2010-136, Class FA (1MO LIBOR + 50) (a)		0.609	%	12/25/40		325,982		330,314
FNMA, Series 2011-86, Class KF (1MO LIBOR +55) (a)		0.659	%	09/25/41		511,944		521,148

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 81.0% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
Agency MBS CMO - 1.1% (continued)
FNMA, Series 2012-9, Class FC (1MO LIBOR + 40) (a)		0.509	%	02/25/42	$	233,451	$	235,651
FNMA, Series 2012-33, Class F (1MO LIBOR + 52) (a)		0.629	%	04/25/42		198,247		200,409
FNMA, Series 2013-34, Class GP		3.000	%	05/25/42		5,839,528		5,994,612
GNMA, Series 2007-18, Class FD (1MO LIBOR + 30) (a)		0.411	%	04/20/37		493,790		494,445
GNMA, Series 2008-16, Class FC (1MO LIBOR + 50) (a)		0.611	%	02/20/38		402,265		404,919
GNMA, Series 2012-149, Class GF (1MO LIBOR + 30) (a)		0.411	%	12/20/42		206,636		207,218
GNMA, Series 2012-H29, Class SA (1MO LIBOR + 51.5) (a)		0.634	%	10/20/62		622,868		626,466
GNMA, Series 2012-H23, Class SA (1MO LIBOR + 53) (a)		0.650	%	10/20/62		564,597		554,586
GNMA, Series 2016-H11, Class FD (12MO LIBOR + 40) (a)		1.402	%	05/20/66		113,334		113,477
GNMA, Series 2017-H11, Class FP (1MO LIBOR + 22) (a)		0.340	%	04/20/67		155,871		155,789
								13,864,523
Agency MBS CMO Derivatives - 0.4%
FHLMC, Series 3946, Class SB (IO) (-1*1MO LIBOR + 675) (a)		6.644	%	10/15/26		173,801		19,641
FHLMC, Series 237, Class S14 (IO) (-1*1MO LIBOR + 660) (a)		6.494	%	05/15/36		759,601		149,465
FHLMC, Series 4693, Class EI (IO)		3.500	%	08/15/42		1,471,376		38,853
FNMA, Series 2011-75, Class MI (IO)		3.500	%	08/25/26		347,654		14,451
FNMA, Series 2012-148, Class IA (IO)		4.000	%	01/25/28		3,036,412		251,416
FNMA, Series 301, Class I (PO)		0.000	%	04/25/29		288,839		275,805
FNMA, Series 348, Class II (IO)		6.000	%	01/25/34		709,846		147,404
FNMA, Series 2014-19, Class MS (IO) (-1*1MO LIBOR + 660) (a)		6.491	%	11/25/39		4,564,282		46,335
FNMA, Series 2013-120, Class JI (IO)		4.000	%	02/25/40		5,123,845		168,698
FNMA, Series 2010-44, Class CS (IO) (-1*1MO LIBOR + 655) (a)		6.441	%	05/25/40		606,474		96,627

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 81.0% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
Agency MBS CMO Derivatives - 0.4% (continued)
FNMA, Series 2011-14, Class PI (IO)		5.000	%	06/25/40	$	196,611	$	7,843
FNMA, Series 3998, Class NS (IO) (-1*1MO LIBOR + 660) (a)		6.494	%	09/15/40		3,853,361		263,520
FNMA, Series 2014-45, Class IO (IO)		4.000	%	08/25/44		559,642		60,458
GNMA, Series 2013-124, Class ST (-1.333*1MO LIBOR + 880) (a)		8.652	%	08/20/39		61,930		62,844
GNMA, Series 2011-145, Class QI (IO)		5.000	%	11/16/41		1,141,113		179,946
GNMA, Series 2015-16, Class IL (IO)		4.000	%	03/20/42		4,405,204		308,539
GNMA, Series 2014-141, Class IE (IO)		4.000	%	08/20/43		2,346,920		87,073
GNMA, Series 2010-H01, Class CI (IO) (a)		2.013	%	01/20/60		802,294		82,993
GNMA, Series 2012-H02, Class AI (IO) (a)		1.908	%	01/20/62		1,439,858		64,085
GNMA, Series 2013-H13, Class T1 (IO) (a)		0.468	%	05/20/63		30,957,969		348,537
GNMA, Series 2016-H20, Class GI (IO) (a)		0.317	%	08/20/66		29,292,932		317,204
GNMA, Series 2017-H11, Class PI (IO) (a)		3.864	%	04/20/67		842,958		22,797
GNMA, Series 2017-H22, Class ID (IO) (a)		3.898	%	11/20/67		304,776		18,791
GNMA, Series 2018-H08, Class NI (IO) (a)		0.806	%	05/20/68		16,785,550		410,452
GNMA, Series 2019-H04, Class IO (IO) (a)		1.489	%	03/20/69		25,136,745		958,188
								4,401,965
Agency MBS Passthrough - 0.1%
FHLMC, Pool #FG G60257		5.500	%	06/01/41		633,956		745,103
Auto Loan - 9.9%
ACC Trust, Series 2019-1, Class A (d)		3.750	%	05/20/22		116,424		116,811
ACC Trust, Series 2019-2, Class A (d)		2.820	%	02/21/23		971,342		977,788
American Credit Acceptance Receivables Trust, Series 2020-3, Class F (d)		5.940	%	06/14/27		6,750,000		7,172,440

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 81.0% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
Auto Loan - 9.9% (continued)
American Credit Acceptance Receivables Trust, Series 2020-4, Class F (d)		5.220	%	08/13/27	$	2,800,000	$	2,921,190
Arivo Acceptance Auto Loan Receivables Trust, Series 2019-1, Class A (d)		2.990	%	07/15/24		529,285		535,825
Arivo Acceptance Auto Loan Receivables Trust, Series 2021-1A, Class A (d)		1.190	%	01/15/27		3,013,406		3,024,900
Arivo Acceptance Auto Loan Receivables Trust, Series 2021-1A, Class B (d)		2.020	%	02/16/27		2,223,000		2,238,934
Avid Automobile Receivables Trust, Series 2019-1, Class E (d)		6.760	%	05/17/27		2,500,000		2,527,990
Carvana Auto Receivable Trust, Series 2020-P1, Class C		1.320	%	11/09/26		1,450,000		1,440,959
Carvana Auto Receivable Trust, Series 2020-P1, Class D		1.820	%	09/08/27		1,100,000		1,094,225
Chase Credit Linked Notes, Series 2020-1, Class D (d)		1.886	%	01/25/28		1,853,634		1,867,283
Chase Credit Linked Notes, Series 2020-2, Class C (d)		1.140	%	02/25/28		1,205,351		1,210,063
CIG Auto Receivables Trust, Series 2020-1, Class D (d)		2.350	%	01/12/26		2,400,000		2,437,615
CPS Auto Receivables Trust, Series 2018-C, Class D (d)		4.400	%	06/17/24		850,000		876,331
CPS Auto Receivables Trust, Series 2020-B, Class D (d)		4.750	%	04/15/26		5,000,000		5,371,720
CPS Auto Receivables Trust, Series 2020-C, Class D (d)		2.410	%	11/16/26		2,600,000		2,681,989
Credit Acceptance Auto Loan Trust, Series 2020-2, Class C (d)		2.730	%	11/15/29		3,000,000		3,105,501
Credit Acceptance Auto Loan Trust, Series 2020-3A, Class C (d)		2.280	%	02/15/30		2,500,000		2,554,483
DT Auto Owner Trust, Series 2020-2, Class E (d)		4.730	%	03/16/26		500,000		542,156
Exeter Automobile Receivables Trust, Series 2020-2, Class D (d)		4.730	%	04/15/26		730,000		787,691
FHF Trust, Series 2020-1, Class A (d)		2.590	%	12/15/23		2,163,124		2,179,503

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 81.0% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
Auto Loan - 9.9% (continued)
FHF Trust, Series 2020-1, Class B (d)		3.100	%	09/15/25	$	4,500,000	$	4,625,801
FHF Trust, Series 2021-1, Class A (d)		1.270	%	03/15/27		3,000,000		2,999,367
Foursight Capital Automobile Receivables, Series 2018-2, Class E (d)		5.500	%	10/15/24		6,000,000		6,329,921
Foursight Capital Automobile Receivables, Series 2020-1, Class C (d)		2.410	%	08/15/25		4,400,000		4,503,734
GLS Auto Receivables Trust, Series 2021-1A, Class D (d)		1.680	%	01/15/27		5,000,000		4,990,707
Hertz Fleet Lease Funding LP, Series 2017-1, Class D (d)		3.690	%	04/10/31		1,500,000		1,512,592
Hertz Fleet Lease Funding LP, Series 2017-1, Class E (d)		5.800	%	04/10/31		8,000,000		8,126,538
Hertz Fleet Lease Funding LP, Series 2018-1, Class D (d)		4.170	%	05/10/32		700,000		704,161
Hertz Fleet Lease Funding LP, Series 2018-1, Class E (d)		5.550	%	05/10/32		4,888,000		4,939,707
Hertz Fleet Lease Funding LP, Series 2019-1, Class E (d)		4.620	%	01/10/33		3,400,000		3,471,729
Navistar Financial Dealer Note Master Trust, Series 2019-1, Class D (1MO LIBOR + 145) (a)(d)		1.568	%	05/28/24		1,200,000		1,200,000
OneMain Direct Auto Receivables, Series 2019-1, Class D (d)		4.680	%	04/14/31		5,500,000		6,053,490
OSCAR US Funding Trust, Series 2019-11, Class A-4 (d)		2.680	%	09/10/26		5,270,000		5,487,943
Santander Consumer Auto Receivables, Series 2020-B, Class D (d)		2.140	%	12/15/26		2,000,000		2,025,773
Skopos Auto Receivables Trust, Series 2018-1, Class C (d)		4.770	%	04/17/23		3,665,703		3,719,517
Skopos Auto Receivables Trust, Series 2019-1, Class B (d)		3.430	%	09/15/23		6,000,000		6,060,418
Tesla Auto Lease Trust, Series 2018-B, Class D (d)		5.290	%	11/22/21		5,250,000		5,325,519
Tesla Auto Lease Trust, Series 2020-A, Class D (d)		2.330	%	02/20/24		2,500,000		2,557,573

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 81.0% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
Auto Loan - 9.9% (continued)
Veros Auto Receivables Trust, Series 2020-1, Class A (d)		1.670	%	09/15/23	$	1,676,897	$	1,682,583
Veros Auto Receivables Trust, Series 2020-1, Class B (d)		2.190	%	06/16/25		2,500,000		2,523,713
								124,506,183
CRE/CLO - 9.1%
A10 Securitization, Series 2020-C, Class A (d)(e)		2.033	%	08/15/40		1,088,371		1,094,482
A10 Securitization, Series 2020-C, Class B (d)(e)		2.617	%	08/15/40		2,100,000		2,114,018
A10 Securitization, Series 2020-C, Class C (d)(e)		3.363	%	08/15/40		2,800,000		2,839,290
A10 Securitization, Series 2020-C, Class D (d)(e)		4.129	%	08/15/40		1,950,000		1,969,359
A10 Securitization, Series 2020-C, Class E (d)(e)		5.465	%	08/15/40		1,050,000		1,061,707
Acre Mortgage Trust, Series 2021-FL4, Class D (1MO LIBOR + 260) (a)(d)		2.708	%	12/15/37		6,000,000		5,925,000
Acre Mortgage Trust, Series 2021-FL4, Class E (1MO LIBOR + 310) (a)(d)		3.208	%	12/15/37		2,000,000		1,970,000
Bancorp Commercial Mortgage Trust (The), Series 2017-CRE2, Class C (1MO LIBOR + 235) (a)(d)		2.462	%	08/15/32		4,750,000		4,686,900
Bancorp Commercial Mortgage Trust (The), Series 2018-CR3, Class D (1MO LIBOR + 270) (a)(d)		2.806	%	03/16/35		4,500,000		4,470,956
Bancorp Commercial Mortgage Trust (The), Series 2017-CRE2, Class D (a)(d)		3.862	%	08/17/32		2,000,000		1,674,911
Bancorp Commercial Mortgage Trust (The), Series 2019-CRE5, Class A (1MO LIBOR + 100) (a)(d)		1.106	%	03/17/36		776,434		776,195
BXMT Ltd, Series 2020-FL2, Class C (1MO LIBOR + 165) (a)(d)		1.757	%	02/18/38		3,750,000		3,712,796
BXMT Ltd., Series 2017-FL1, Class C (1MO LIBOR + 195) (a)(d)		2.058	%	06/15/35		2,100,000		2,092,650
BXMT Ltd., Series 2017-FL1, Class D (1MO LIBOR + 275) (a)(d)		2.807	%	06/15/35		3,300,000		3,300,007
BXMT Ltd., Series 2020-FL2, Class A (1MO LIBOR + 90) (a)(d)		1.007	%	02/16/37		7,500,000		7,481,018

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 81.0% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
CRE/CLO - 9.1% (continued)
BXMT Ltd., Series 2020-FL2, Class D (1MO LIBOR + 195) (a)(d)		2.058	%	02/16/37	$	3,725,000	$	3,678,344
BXMT Ltd., Series 2020-FL2, Class E (1MO LIBOR + 205) (a)(d)		2.158	%	02/16/37		3,500,000		3,429,951
BXMT Ltd., Series 2020-FL2, Class B (1MO LIBOR + 140) (a)(d)		1.508	%	02/18/38		3,650,000		3,640,853
Exantas Capital Corp., Series 2020-RS09, Class D (1MO LIBOR + 550) (a)(d)(e)		5.608	%	04/17/37		7,284,823		7,324,888
FHLMC, Series 2020-FL3, Class B (1MO LIBOR + 375) (a)(d)		3.856	%	07/15/35		4,500,000		4,583,754
FHLMC, Series 2020-FL3, Class C (1MO LIBOR + 450) (a)(d)		4.606	%	07/15/35		1,000,000		1,019,854
FHLMC, Series 2020-FL3, Class A-S (1MO LIBOR + 285) (a)(d)		2.956	%	07/16/35		1,500,000		1,524,192
KKR Real Estate Finance Trust, Inc., Series 2018-FL1, Class A (1MO LIBOR + 110) (a)(d)		1.208	%	06/15/36		1,914,355		1,914,355
MF1 Ltd., Series 2020-FL3, Class D (1MO LIBOR + 300) (a)(d)		3.106	%	07/16/35		2,000,000		2,007,442
Multi Family Housing Mortgage Loan, Series 2019-FL2, Class A (1MO LIBOR + 113) (a)(d)		1.239	%	11/27/34		12,098,336		12,089,722
Multi Family Housing Mortgage Loan, Series 2019-FL2, Class C (1MO LIBOR + 200) (a)(d)		2.109	%	12/25/34		4,400,000		4,401,364
Multi Family Housing Mortgage Loan, Series 2020-FL4, Class A (1MO LIBOR +170) (a)(d)		1.806	%	11/15/35		4,000,000		4,026,640
PFP III, Series 2021-7, Class D (1MO LIBOR + 240) (a)(d)		2.500	%	04/14/38		1,750,000		1,728,125
PFP Ltd., Series 2019-5, Class B (1MO LIBOR + 165) (a)(d)		1.756	%	04/16/36		2,150,000		2,147,351
ReadyCap Commercial Mortgage Trust, Series 2020-FL4, Class A (1MO LIBOR + 215) (a)(d)		2.268	%	02/25/35		6,649,817		6,701,440
ReadyCap Commercial Mortgage Trust, Series 2020-FL4, Class B (1MO LIBOR + 385) (a)(d)		3.968	%	02/25/35		4,000,000		4,123,230
ReadyCap Commercial Mortgage Trust, Series 2020-FL4, Class C (1MO LIBOR + 475) (a)(d)		4.868	%	02/25/35		4,000,000		4,112,334

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 81.0% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
CRE/CLO - 9.1% (continued)
VMC Finance LLC, Series 2018-FL2, Class A (1MO LIBOR + 92) (a)(d)		1.028	%	10/15/35	$	624,405	$	625,109
								114,248,237
Credit Cards - 4.6%
Brex, Inc., Series 2021-1, Class A (d)		2.130	%	07/17/24		4,300,000		4,299,682
Continental Credit Card LLC, Series 2017-1, Class B (d)		6.410	%	01/15/25		2,849,020		2,949,514
Continental Credit Card LLC, Series 2019-1, Class A (d)		3.830	%	08/15/26		13,000,000		13,318,622
Continental Credit Card LLC, Series 2019-1, Class B (d)		4.950	%	08/15/26		7,450,000		7,745,984
Continental Credit Card LLC, Series 2019-1, Class C (d)		6.160	%	08/15/26		3,000,000		3,148,640
Continental Credit Card LLC, Series 2020-A, Class A (d)		2.240	%	12/15/28		3,600,000		3,627,423
Continental Credit Card LLC, Series 2020-A, Class B (d)		3.660	%	12/15/28		6,800,000		6,872,661
Genesis Private Label Amortization Trust, Series 2020-1, Class C (d)		4.190	%	07/20/30		1,680,000		1,702,100
Genesis Private Label Amortization Trust, Series 2020-1, Class E (d)		9.760	%	07/20/30		2,625,000		2,695,372
Genesis Sales Finance Master Trust, Series 2020-AA, Class B (d)		2.240	%	09/22/25		2,500,000		2,512,613
Genesis Sales Finance Master Trust, Series 2020-AA, Class C (d)		2.990	%	09/22/25		1,000,000		1,004,278
Mercury Financial Credit Card, Series 2021-1A, Class B (d)		2.330	%	03/20/26		3,700,000		3,705,858
Mercury Financial Credit Card, Series 2021-1A, Class D (d)		6.260	%	03/20/26		4,000,000		4,025,792
								57,608,539
Equipment - 3.0%
Access Point Financial, Inc., Series 2017-A, Class B (d)(e)		3.970	%	04/15/29		142,191		142,470
Access Point Financial, Inc., Series 2017-A, Class C (d)(e)		5.820	%	04/15/29		4,750,000		4,734,575

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 81.0% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
Equipment - 3.0% (continued)
Access Point Financial, Inc., Series 2017-A, Class D (d)(e)		6.000	%	04/15/29	$	5,000,000	$	4,970,481
Business Jet Securities LLC, Series 2019-1, Class B (d)		5.193	%	07/15/34		2,629,110		2,637,520
Business Jet Securities LLC, Series 2019-1, Class C (d)		6.948	%	07/15/34		4,695,551		4,893,745
Business Jet Securities LLC, Series 2020-1, Class B (d)		3.967	%	11/15/35		1,211,390		1,244,266
Business Jet Securities LLC, Series 2020-1, Class C (d)		7.142	%	11/15/35		2,591,416		2,718,769
Business Jet Securities LLC, Series 2021-1A, Class B (d)		2.918	%	04/15/36		1,500,000		1,497,312
Business Jet Securities LLC, Series 2021-1A, Class C (d)		5.067	%	04/15/36		3,000,000		3,002,319
CCG Receivables Trust, Series 2018-2, Class C (d)		3.870	%	12/15/25		2,395,000		2,453,540
Octane Receivables Trust, Series 2019-1, Class A (d)		3.160	%	09/20/23		1,657,846		1,676,287
Octane Receivables Trust, Series 2020-1, Class A (d)		1.710	%	02/20/25		4,959,781		5,004,038
Octane Receivables Trust, Series 2020-1, Class C (d)		2.890	%	03/20/26		2,600,000		2,666,830
								37,642,152
HECM - 0.9%
Finance of America HECM, Series 2020-HB2, Class A (d)		1.710	%	07/25/30		5,199,081		5,231,721
Finance of America HECM, Series 2021-HB1, Class M3 (d)		3.640	%	02/25/31		2,000,000		1,986,312
Nationstar HECM Loan Trust, Series 2019-1A, Class A (d)		2.651	%	06/25/29		409,787		410,439
RMF Buyout Issuance Trust, Series 2020-1, Class M3 (d)		2.964	%	02/25/30		1,469,000		1,465,032
RMF Buyout Issuance Trust, Series 2020-2, Class M2 (d)		3.091	%	06/25/30		1,500,000		1,506,058

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 81.0% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
HECM - 0.9% (continued)
RMF Buyout Issuance Trust, Series 2020-2, Class M3 (d)		4.571	%	06/25/30	$	800,000	$	803,072
								11,402,634
Hospitality - 3.0%
BHMS Mortgage Trust, Series 2018-ATLS, Class A (1MO LIBOR + 125) (a)(d)		1.356	%	07/16/35		4,400,000		4,397,272
BX Trust, Series 2018-GW, Class E (1MO LIBOR + 197) (a)(d)		2.076	%	05/15/37		500,000		498,738
BX Trust, Series 2019-OC11, Class C (d)		3.856	%	12/11/41		2,200,000		2,319,721
Champlain Housing Mortgage Trust, Series 2017-COSMO, Class B (1MO LIBOR + 140) (a)(d)		1.506	%	11/17/36		3,600,000		3,602,208
Cosmopolitan Hotel Trust, Series 2017-COSMO, Class D (1MO LIBOR + 225) (a)(d)		2.356	%	11/15/36		4,900,000		4,903,010
Cosmopolitan Hotel Trust, Series 2017-COSMO, Class A (1MO LIBOR + 93) (a)(d)		1.036	%	11/17/36		4,000,000		4,001,202
Fontainebleau Miami Beach, Series 2019-FBLU, Class C (d)		3.750	%	12/12/36		2,000,000		2,062,710
Goldman Sachs Mortgage Securities Corp. Trust, Series 2018-HULA, Class A (1MO LIBOR + 92) (a)(d)		1.026	%	07/16/35		2,766,001		2,765,116
Goldman Sachs Mortgage Securities Corp. Trust, Series 2018-HULA, Class B (1MO LIBOR + 125) (a)(d)		1.356	%	07/16/35		7,081,915		7,070,699
Hawaii Hotel Trust, Series 2019-MAUI, Class A (1MO LIBOR +115) (a)(d)		1.256	%	05/17/38		2,245,000		2,246,370
Motel 6 Trust, Series 2017-MTL6, Class D (1MO LIBOR + 215) (a)(d)		2.256	%	08/15/34		4,181,493		4,184,057
								38,051,103
Industrial - 1.7%
BX Commercial Mortgage Trust, Series 2020-FOX, Class D (1MO LIBOR + 210) (a)(d)		2.206	%	11/15/32		3,000,000		3,007,523
Cold Storage Trust, Series 2020-ICE5, Class F (1MO LIBOR + 349.25) (a)(d)		3.598	%	11/15/37		4,914,953		4,945,736

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 81.0% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
Industrial - 1.7% (continued)
Cold Storage Trust, Series 2020-ICE5, Class E (1MO LIBOR + 276.56) (a)(d)		2.872	%	11/16/37	$	2,457,476	$	2,461,418
Credit Suisse First Boston, Series 2020-UNFI, Class A (a)(d)		3.781	%	12/06/22		10,400,000		10,416,048
								20,830,725
Manufactured Housing - 0.1%
Cascade Funding Mortgage Trust, Series 2019-MH1, Class M (d)		5.985	%	11/25/44		1,100,000		1,134,969
Mixed-Use - 0.4%
20 Times Square Trust, Series 2018-20TS, Class B (a)(d)		3.100	%	05/17/35		4,400,000		4,395,568
Multifamily - 6.4%
BX Commercial Mortgage Trust, Series 2021-MFM1, Class D (1MO LIBOR + 150) (a)(d)		1.606	%	01/15/34		2,000,000		1,993,788
FHLMC, Series 2021-MN1, Class M-1 (a)(d)		2.017	%	01/25/51		8,950,556		8,972,748
Freedom Mortgage Trust, Series 2017-KF39, Class B (1MO LIBOR + 250) (a)(d)		2.618	%	11/25/24		2,495,570		2,493,000
Freedom Mortgage Trust, Series 2018-KF53, Class B (1MO LIBOR + 205) (a)(d)		2.168	%	10/27/25		3,699,971		3,671,944
Freedom Mortgage Trust, Series 2019-KF61, Class B (1MO LIBOR + 220) (a)(d)		2.319	%	03/25/29		4,594,449		4,578,289
FREMF Mortgage Trust, Series 2018-KF44, Class B (1MO LIBOR +215) (a)(d)		2.270	%	02/25/25		3,245,927		3,239,394
FREMF Mortgage Trust, Series 2018-KF43, Class B (1MO LIBOR +215) (a)(d)		2.269	%	01/25/28		3,255,803		3,245,932
FREMF Mortgage Trust, Series 2018-KF50, Class B (1MO LIBOR + 190) (a)(d)		2.018	%	07/25/28		5,112,313		5,034,741
FREMF Mortgage Trust, Series 2019-KF57, Class B (2MO LIBOR + 225) (a)(d)		2.369	%	01/25/29		5,566,954		5,584,301
FREMF Mortgage Trust, Series 2019-KF67, Class B (1MO LIBOR + 225) (a)(d)		2.369	%	08/25/29		6,000,000		5,985,267

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 81.0% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
Multifamily - 6.4% (continued)
Multi Family Connecticut Avenue, Series 2019-01, Class M-7 (1MO LIBOR + 170) (a)(d)		1.818	%	10/15/49	$	8,903,747	$	8,878,057
Multi Family Connecticut Avenue, Series 2019-01, Class M10 (1MO LIBOR + 325) (a)(d)		3.368	%	10/15/49		3,000,000		2,980,478
Multi Family Connecticut Avenue, Series 2019-01, Class B-10 (1MO LIBOR + 550) (a)(d)		5.618	%	10/15/49		1,500,000		1,523,971
Multi Family Connecticut Avenue, Series 2020-01, Class M-7 (1MO LIBOR + 195) (a)(d)		2.059	%	03/25/50		5,526,037		5,540,387
Multi Family Connecticut Avenue, Series 2020-01, Class M-10 (1MO LIBOR + 375) (a)(d)		3.859	%	03/25/50		15,000,000		15,474,945
Multi Family Connecticut Avenue, Series 2020-01, Class CE (1MO LIBOR + 750) (a)(d)		7.609	%	03/25/50		1,500,000		1,556,778
								80,754,020
Non-Agency MBS 2.0 - 0.4%
J.P. Morgan Wealth Management, Series 2021-CL1, Class M1 (SOFR + 130) (a)		1.317	%	02/26/71		2,920,766		2,920,765
J.P. Morgan Wealth Management, Series 2021-CL1, Class M3 (SOFR + 180) (a)		1.817	%	02/26/71		2,190,575		2,190,574
								5,111,339
Non-Performing Loan - 0.6%
Volt LXXXIX LLC, Series 2020-NPL5, Class A-1A (a)(d)		2.981	%	03/25/50		7,678,947		7,708,059
Non-QM - 0.0% (c)
Citigroup Mortgage Loan Trust, Inc., Series 2004-UST1, Class A3 (a)		2.226	%	08/25/34		6,571		6,729

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 81.0% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
Residential Transition Loan - 2.3%
AlphaFlow Transitional Mortgage Co., Series 2021-WL1, Class A1 (d)		3.280	%	03/25/25	$	6,275,000	$	6,270,948
AlphaFlow Transitional Mortgage Co., Series 2021-WL1, Class A2 (d)		5.610	%	03/25/25		9,500,000		9,492,552
Antler Mortgage Trust, Series 2019-RTL1, Class A1 (d)		4.458	%	06/27/22		43,275		43,223
Antler Mortgage Trust, Series 2018-RTL1, Class A2 (d)		4.703	%	07/25/22		617,253		612,122
Antler Mortgage Trust, Series 2019-RTL1, Class A2 (d)		4.948	%	08/25/22		1,900,000		1,877,906
Antler Mortgage Trust, Series 2018-RTL1, Class M (d)		7.385	%	05/25/23		2,000,000		1,997,515
LHFC Depositor LLC, Series 2019-RLT1, Class M (d)		6.899	%	10/25/23		2,750,000		2,669,560
LHOME Mortgage Trust, Series 2019-RLT1, Class A2 (d)		4.948	%	10/25/23		2,757,283		2,769,205
LHOME Mortgage Trust, Series 2021-RTL1, Class M (d)		4.458	%	09/25/26		2,750,000		2,750,385
								28,483,416
Retail - 2.9%
BB-UBS Trust, Series 2012-SHOW, Class A (d)		3.430	%	11/05/36		5,000,000		5,233,817
BX Trust, Series 2018-EXCL, Class A (1MO LIBOR + 1088) (a)(d)		1.194	%	09/15/37		6,696,518		6,495,991
Citigroup Commercial Mortgage, Series 2017-MDRB, Class D (1MO LIBOR + 325) (a)(d)		3.356	%	07/15/30		9,650,000		9,527,956
Citigroup Commercial Mortgage, Series 2017-MDRB, Class A (1MO LIBOR + 110) (a)(d)		1.206	%	07/15/30		592,040		588,063
Credit Suisse First Boston, Series 2018-SITE, Class C (a)(d)		4.782	%	04/17/36		4,575,000		4,474,495
Wells Fargo Mortgage Trust, Series 2021-SAVE, Class A (1MO LIBOR + 115) (a)(d)		1.300	%	02/15/40		2,250,000		2,255,559
Wells Fargo Mortgage Trust, Series 2021-SAVE, Class B (1MO LIBOR + 145) (a)(d)		1.600	%	02/15/40		2,000,000		2,004,938
Wells Fargo Mortgage Trust, Series 2021-SAVE, Class C (1MO LIBOR + 180) (a)(d)		1.950	%	02/15/40		2,550,000		2,557,836

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 81.0% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
Retail - 2.9% (continued)
Wells Fargo Mortgage Trust, Series 2021-SAVE, Class D (1MO LIBOR + 250) (a)(d)		2.650	%	02/15/40	$	1,875,000	$	1,886,570
Wells Fargo Mortgage Trust, Series 2021-SAVE, Class E (a)(d)		3.800	%	02/15/40		1,850,000		1,864,927
								36,890,152
Single Family Rental - 4.3%
American Homes 4 Rent, Series 2015-SFR2, Class D (d)		5.036	%	10/18/52		1,171,000		1,268,953
AMSR Trust, Series 2020-SFR2, Class G (d)		4.000	%	07/17/37		500,000		497,313
Colony American Finance Ltd., Series 2020-4, Class B (d)		1.707	%	12/15/52		4,750,000		4,708,925
Invitation Homes Trust, Series 2017-SFR2, Class D (1MO LIBOR + 180) (a)(d)		1.908	%	12/17/36		2,995,604		2,999,662
Invitation Homes Trust, Series 2017-SFR2, Class A (1MO LIBOR + 85) (a)(d)		0.958	%	12/19/36		895,912		896,892
Invitation Homes Trust, Series 2018-SFR1, Class B (1MO LIBOR + 95) (a)(d)		1.058	%	03/17/37		6,700,000		6,690,296
Invitation Homes Trust, Series 2018-SFR3, Class A (1MO LIBOR + 100) (a)(d)		1.108	%	07/17/37		11,631,492		11,653,225
Invitation Homes Trust, Series 2018-SFR3, Class E (1MO LIBOR + 200) (a)(d)		2.108	%	07/17/37		2,086,019		2,086,017
Progress Residential Trust, Series 2021-SFR1, Class B (d)		1.303	%	04/17/38		2,500,000		2,436,167
Progress Residential Trust, Series 2021-SFR1, Class E (d)		2.106	%	04/17/38		1,900,000		1,862,163
Star, Series 2021-SFR1, Class E (1MO LIBOR + 170) (a)(d)		1.815	%	04/17/38		18,300,000		18,262,846
								53,362,459
Small Business - 5.2%
Credibly Asset Securitization LLC, Series 2018-1, Class A (d)		4.800	%	11/15/23		14,750,000		14,777,100
Kabbage Funding LLC, Series 2019-1, Class D (d)		5.688	%	03/15/24		2,578,148		2,578,344
Newtek Small Business Loan Trust, Series 2018-1, Class A (1MO LIBOR + 170) (a)(d)		2.700	%	02/25/44		1,277,501		1,246,335

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 81.0% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
Small Business - 5.2% (continued)
Newtek Small Business Loan Trust, Series 2018-1, Class B (1MO LIBOR + 300) (a)(d)		4.000	%	02/25/44	$	2,810,503	$	2,577,978
Newtek Small Business Loan Trust, Series 2019-01, Class A (1MO LIBOR + 165) (a)(d)		2.350	%	12/25/44		3,019,959		2,974,409
SFS Asset Securitization LLC, Series 2019-1, Class A (d)		4.238	%	06/10/25		7,400,000		7,404,031
SFS Asset Securitization LLC, Series 2019-1, Class B (d)		5.023	%	06/10/25		2,000,000		1,997,967
SFS Asset Securitization LLC, Series 2019-1, Class C (d)		6.390	%	06/10/25		746,000		720,356
Small Business Lending Trust, Series 2019-A, Class A (d)		2.850	%	07/15/26		669,628		668,654
Small Business Lending Trust, Series 2019-A, Class B (d)		3.420	%	07/15/26		1,902,000		1,889,617
Small Business Lending Trust, Series 2019-A, Class C (d)		4.310	%	07/15/26		8,455,000		8,352,307
Small Business Lending Trust, Series 2019-A, Class D (d)		6.300	%	07/15/26		5,000,000		4,743,458
Small Business Lending Trust, Series 2020-A, Class A (d)		2.620	%	12/15/26		2,372,803		2,381,764
Small Business Lending Trust, Series 2020-A, Class B (d)		3.200	%	12/15/26		2,000,000		2,011,094
Small Business Lending Trust, Series 2020-A, Class C (d)		5.010	%	12/15/26		10,800,000		10,602,525
								64,925,939
Specialty - 0.3%
BTH Mortgage-Backed Securities Trust, Series 2018-13, Class A (1MO LIBOR + 250) (a)		2.620	%	08/01/21		4,000,000		3,993,409
Student Loan - 1.1%
College Ave Student Loans, Series 2018-A, Class B (d)		4.750	%	12/26/47		1,568,326		1,663,744
College Ave Student Loans, Series 2018-A, Class C (d)		5.500	%	12/26/47		900,000		943,660

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 81.0% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
Student Loan - 1.1% (continued)
College Ave Student Loans, Series 2019-A, Class C (d)		4.460	%	12/28/48	$	4,000,000	$	4,115,694
College Ave Student Loans, Series 2021-A, Class B (d)		2.320	%	07/25/51		2,500,000		2,471,288
College Ave Student Loans, Series 2021-A, Class D (d)		4.120	%	07/25/51		1,250,000		1,243,986
CommonBond Student Loan Trust, Series 2017-BGS, Class C (d)		4.440	%	09/25/42		121,605		127,236
Earnest Student Loan Program LLC, Series 2016-C, Class A-2 (d)		2.680	%	07/25/35		1,345,211		1,346,592
Earnest Student Loan Program LLC, Series 2016-C, Class A1 (1MO LIBOR + 185) (a)(d)		1.959	%	10/27/36		438,748		439,068
Earnest Student Loan Program LLC, Series 2016-D, Class R (d)(e)		0.000	%	01/25/41		5,000		70,000
Laurel Road Prime Student Loan, Series 2019-A, Class BFX (d)		3.000	%	10/25/48		1,842,378		1,866,455
								14,287,723
Unsecured Consumer - 17.5%
Avant Loans Funding Trust, Series 2020-REV1, Class A (d)		2.170	%	05/15/29		4,800,000		4,833,560
Consumer Lending Receivables Trust, Series 2019-A, Class CTF (PO) (d)(e)		0.000	%	04/15/26		150,000		1,842,615
Consumer Lending Receivables Trust, Series 2019-A, Class A (d)		3.520	%	04/15/26		59,480		59,538
Consumer Loan Underlying Bond Credit Trust, Series 2019-P1, Class C (d)		4.660	%	07/15/26		10,000,000		10,269,133
Consumer Loan Underlying Bond Credit Trust, Series 2019-P2, Class C (d)		4.410	%	10/15/26		5,573,000		5,637,966
Consumer Loan Underlying Bond Credit Trust, Series 2019-HP1, Class B (d)		3.480	%	12/15/26		5,000,000		5,159,918
Consumer Loan Underlying Bond Credit Trust, Series 2020-P1, Class C (d)		4.610	%	03/15/28		1,225,000		1,260,604
Freedom Financial, Series 2019-1, Class B (d)		3.870	%	06/18/26		1,918,431		1,937,993
Freedom Financial, Series 2019-2, Class C (d)		4.860	%	11/18/26		5,500,000		5,668,041
Freedom Financial, Series 2020-FP1, Class B (d)		3.060	%	03/18/27		4,000,000		4,070,283

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 81.0% (continued)	Coupon			Maturity	Shares / Par Value			Fair Value
Unsecured Consumer - 17.5% (continued)
Freedom Financial, Series 2020-FP1, Class C (d)		4.370	%	03/18/27	$	3,250,000		$	3,322,304
Freedom Financial, Series 2020-2CP, Class A (d)		4.520	%	06/18/27		1,272,844			1,283,649
Freedom Financial, Series 2020-2CP, Class B (d)		5.500	%	06/18/27		2,855,000			2,991,315
Freedom Financial, Series 2020-3FP, Class A (d)		2.400	%	09/20/27		1,353,063			1,358,296
Freedom Financial, Series 2020-3FP, Class B (d)		4.180	%	09/20/27		4,000,000			4,100,123
Freedom Financial, Series 2020-3FP, Class C (d)		6.960	%	09/20/27		2,500,000	��		2,644,564
Freedom Financial, Series 2021-1CP, Class B (d)		1.410	%	03/20/28		3,250,000			3,253,101
Freedom Financial, Series 2021-1CP, Class C (d)		2.830	%	03/20/28		750,000			748,952
Freedom Mortgage Trust, Series 2020-2CP, Class C (d)		6.000	%	06/18/27		2,400,000			2,545,390
LendingPoint Asset Securitization Trust, Series 2019-1, Class B (d)		3.613	%	08/15/25		187,462			187,577
LendingPoint Asset Securitization Trust, Series 2019-1, Class C (d)		4.504	%	08/15/25		2,000,000			2,015,048
LendingPoint Asset Securitization Trust, Series 2019-2, Class B (d)		3.725	%	11/10/25		1,345,354			1,350,302
LendingPoint Asset Securitization Trust, Series 2019-2, Class C (d)		4.660	%	11/10/25		4,141,000			4,200,460
LendingPoint Asset Securitization Trust, Series 2020-1, Class B (d)		3.107	%	02/10/26		3,725,000			3,740,232
Lendmark Funding Trust, Series 2020-2A, Class C (d)		4.690	%	04/21/31		1,000,000			1,026,176
LL ABS Trust, Series 2020-1, Class A (d)		2.330	%	07/15/22		4,693,166			4,727,205
LL ABS Trust, Series 2020-1, Class B (d)		3.790	%	03/15/23		4,500,000			4,644,491
LL ABS Trust, Series 2020-1, Class C (d)		6.540	%	11/15/23		2,200,000			2,320,962
LL ABS Trust, Series 2019-1, Class A (d)		2.870	%	03/15/27		965,558			968,214
LL ABS Trust, Series 2019-1, Class B (d)		3.520	%	03/15/27		5,550,000			5,641,133
LL ABS Trust, Series 2019-1, Class C (d)		5.070	%	03/15/27		4,500,000			4,594,314
Mariner Finance Issuance Trust, Series 2020-A, Class D (d)		5.750	%	08/21/34		8,000,000			8,159,645

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 81.0% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
Unsecured Consumer - 17.5% (continued)
Mariner Finance Issuance Trust, Series 2019-A, Class C (d)		4.010	%	07/20/32	$	2,120,000	$	2,151,996
Mariner Finance Issuance Trust, Series 2021-AA, Class D (d)		4.340	%	03/20/36		1,390,000		1,380,913
Marlette Funding Trust, Series 2019-4, Class B (d)		2.950	%	12/17/29		760,000		776,196
Oportun Funding X LLC, Series 2018-C, Class B (d)		4.590	%	10/08/24		3,000,000		3,027,101
Oportun Funding X LLC, Series 2018-C, Class D (d)		6.790	%	10/08/24		4,472,000		4,512,668
Oportun Funding XII LLC, Series 2018-D, Class B (d)		4.830	%	12/09/24		2,900,000		2,931,898
Oportun Funding XII LLC, Series 2018-D, Class D (d)		7.170	%	12/09/24		6,000,000		6,067,089
Oportun Funding XIV LLC, Series 2021-A, Class C (d)		3.440	%	03/08/28		2,850,000		2,848,963
Prosper Marketplace Issuance Trust, Series 2019-1A, Class B (d)		4.030	%	04/15/25		462,669		464,136
Prosper Marketplace Issuance Trust, Series 2019-3A, Class CERT (d)(e)		0.000	%	07/15/25		81,061,702		650,034
Prosper Marketplace Issuance Trust, Series 2019-3, Class B (d)		3.590	%	07/15/25		7,600,000		7,643,242
Prosper Marketplace Issuance Trust, Series 2019-4, Class B (d)		3.200	%	02/17/26		4,500,000		4,535,945
Prosper Marketplace Issuance Trust, Series 2019-4A, Class C (d)		4.950	%	02/17/26		7,886,000		7,978,680
Regional Management Issuance Trust, Series 2019-1, Class C (d)		4.110	%	11/15/28		2,000,000		2,039,984
Regional Management Issuance Trust, Series 2020-1, Class A (d)		2.340	%	10/15/30		2,000,000		2,019,746
Regional Management Issuance Trust, Series 2020-1, Class B (d)		3.230	%	10/15/30		2,500,000		2,543,334
Regional Management Issuance Trust, Series 2021-1, Class B (d)		2.420	%	03/17/31		895,000		887,513

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 81.0% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
Unsecured Consumer - 17.5% (continued)
Regional Management Issuance Trust, Series 2021-1, Class C (d)		3.040	%	03/17/31	$	1,550,000	$	1,530,065
Upgrade Master Pass-Thru Trust, Series 2019-ST1, Class A (d)		4.000	%	07/15/25		2,111,958		2,134,702
Upgrade Master Pass-Thru Trust, Series 2019-ST3, Class A (d)		3.750	%	11/15/25		1,334,167		1,350,955
Upstart Pass Through Trust, Series 20-ST6, Class A (d)		3.000	%	01/20/27		7,321,802		7,423,716
Upstart Pass-Through Trust, Series 2020-ST1, Class A (d)		3.750	%	02/20/28		2,794,890		2,875,415
Upstart Pass-Through Trust, Series 2020-ST2, Class A (d)		3.500	%	03/20/28		2,700,350		2,751,775
Upstart Pass-Through Trust, Series 2020-ST3, Class A (d)		3.350	%	04/20/28		3,307,890		3,375,263
Upstart Securitization Trust, Series 2019-1, Class B (d)		4.190	%	04/20/26		118,952		119,129
Upstart Securitization Trust, Series 2021-ST1, Class A (d)		2.750	%	02/20/27		2,885,217		2,911,185
Upstart Securitization Trust, Series 2021-ST2, Class A (d)		2.500	%	04/20/27		9,000,000		9,086,459
Upstart Securitization Trust, Series 2019-2, Class A (d)		2.897	%	09/20/29		998,721		1,003,470
Upstart Securitization Trust, Series 2019-2, Class B (d)		3.734	%	09/20/29		12,325,000		12,573,121
Upstart Securitization Trust, Series 2019-2, Class C (d)		4.783	%	09/20/29		5,587,000		5,697,294
Upstart Securitization Trust, Series 2019-3, Class B (d)		3.829	%	01/21/30		4,500,000		4,615,537
Upstart Securitization Trust, Series 2021-1, Class B (d)		1.890	%	03/20/31		1,850,000		1,848,424

Diamond Hill Short Duration Securitized Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 81.0% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
Unsecured Consumer - 17.5% (continued)
Upstart Securitization Trust, Series 2021-1, Class C (d)		4.060	%	03/20/31	$	1,000,000	$	997,325
								219,316,377
Total Securitized (Cost $1,001,972,689)							$	1,014,539,105

Registered Investment Companies - 16.7%	Shares		Fair Value
State Street Institutional Liquid Reserves Fund, Premier Class, 0.07% (f)		209,217,920	$	209,280,686
State Street Navigator Securities Lending Portfolio I, 0.10% (f)(g)		515,075		515,075
Total Registered Investment Companies (Cost $209,678,282)			$	209,795,761
Total Investment Securities - 99.1% (Cost $1,228,703,844)			$	1,242,052,663
Other Assets in Excess of Liabilities - 0.9%				10,763,871
Net Assets - 100.0%			$	1,252,816,534

^(a) Variable rate security.  The rate shown is the effective interest rate as of March 31, 2021.  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, prepayment 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 March 31, 2021 was $502,889.

^(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 March 31, 2021 was $990,610,882, representing 79.1% 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 March 31, 2021 was $28,813,920, representing 2.3% of net assets.

^(f) The rate shown is the 7-day effective yield as of March 31, 2021.

^(g) The security was purchased with cash collateral from securities on loan.

A/S -	Aktieselskab
IO -	Interest Only
LIBOR -	London Interbank Offered Rate
NA -	National Association
PO -	Principal Only
SOFR -	Secured Overnight Financing Rate

See accompanying notes to Schedules of Investments.

Diamond Hill Core Bond Fund

Schedule of Investments

March 31, 2021 (Unaudited)

Corporate Credit - 17.0%	Coupon			Maturity		Shares / Par Value		Fair Value
Banking - 5.4%
Bank of America Corp.		2.881	%		04/24/23	$	100,000	$	102,392
Bank of America Corp.		3.458	%		03/15/25		425,000		456,352
Bank of America Corp.		3.875	%		08/01/25		300,000		331,222
Bank of America Corp.		2.015	%		02/13/26		400,000		409,699
Bank of America Corp.		1.319	%		06/19/26		150,000		149,542
Bank of America Corp.		1.658	%		03/11/27		250,000		250,755
Bank of America Corp. (a)		3.824	%		01/20/28		100,000		109,861
Bank of America Corp.		2.592	%		04/29/31		250,000		249,478
Bank of New York Mellon Corp. (The), Series MTN		1.850	%		01/27/23		200,000		205,768
Bank of New York Mellon Corp. (The)		3.000	%		10/30/28		100,000		106,164
Bank of Nova Scotia		1.950	%		02/01/23		130,000		133,640
Canadian Imperial Bank of Commerce		2.606	%		07/22/23		100,000		102,674
Capital One Financial Corp.		2.600	%		05/15/23		200,000		207,999
Capital One Financial Corp.		3.750	%		07/28/26		100,000		108,647
Citigroup, Inc		1.678	%		05/15/24		500,000		509,943
Citigroup, Inc.		3.352	%		04/24/25		200,000		213,742
Citigroup, Inc.		3.300	%		04/27/25		100,000		107,722
Citigroup, Inc. (3MO LIBOR + 125) (a)		1.487	%		07/01/26		100,000		102,388
Citigroup, Inc.		3.887	%		01/10/28		500,000		549,592
Citigroup, Inc.		4.125	%		07/25/28		150,000		165,994
Citigroup, Inc.		2.976	%		11/05/30		180,000		186,154
Citigroup, Inc.  (a)		5.316	%		03/26/41		100,000		128,748
Citizens Financial Group		2.850	%		07/27/26		225,000		238,599
Comerica Bank, Series BKNT		2.500	%		07/23/24		250,000		264,303
Cooperatieve Rabobank UA (b)		2.625	%		07/22/24		250,000		263,705
Discover Bank		2.700	%		02/06/30		250,000		251,695
Discover Financial Services		4.100	%		02/09/27		100,000		110,981
Fifth Third Bancorp		2.375	%		01/28/25		275,000		286,721
First Tennessee Bank		5.750	%		05/01/30		250,000		300,663
Goldman Sachs Group, Inc. (3MO LIBOR + 111) (a)		1.325	%		04/26/22		50,000		50,029
Goldman Sachs Group, Inc.		3.500	%		01/23/25		205,000		221,226
Goldman Sachs Group, Inc.		3.500	%		04/01/25		250,000		270,853
Goldman Sachs Group, Inc.		3.500	%		11/16/26		350,000		379,348

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Corporate Credit - 17.0% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
Banking - 5.4% (continued)
Goldman Sachs Group, Inc.		1.093	%		12/09/26	$	250,000	$	244,973
Goldman Sachs Group, Inc.		2.600	%		02/07/30		500,000		506,081
Huntington Bancshares, Inc.		2.625	%		08/06/24		125,000		131,866
JPMorgan Chase & Co. (3MO LIBOR + 100) (a)		1.241	%		01/15/23		100,000		100,681
JPMorgan Chase & Co.		0.653	%		09/16/24		150,000		150,292
JPMorgan Chase & Co.		4.023	%		12/05/24		550,000		596,707
JPMorgan Chase & Co.		1.045	%		11/19/26		500,000		488,353
JPMorgan Chase & Co. (a)		3.782	%		02/01/28		100,000		110,218
JPMorgan Chase & Co.		3.509	%		01/23/29		100,000		108,132
JPMorgan Chase & Co.		2.739	%		10/15/30		100,000		101,632
JPMorgan Chase & Co.		2.522	%		04/22/31		750,000		748,421
KeyBank NA		0.423	%		01/03/24		500,000		499,567
KeyCorp (c)		2.550	%		10/01/29		385,000		389,777
Morgan Stanley		0.529	%		01/25/24		500,000		499,089
Morgan Stanley		3.737	%		04/24/24		100,000		106,312
Morgan Stanley		3.700	%		10/23/24		100,000		109,476
Morgan Stanley		3.875	%		01/27/26		500,000		555,969
Morgan Stanley		3.125	%		07/27/26		100,000		107,628
Morgan Stanley		3.625	%		01/20/27		100,000		109,725
Morgan Stanley		2.699	%		01/22/31		175,000		178,067
Morgan Stanley		1.794	%		02/13/32		500,000		466,679
PNC Bank NA (c)		1.743	%		02/24/23		250,000		253,094
PNC Bank NA		2.700	%		10/22/29		250,000		255,521
PNC Financial Services		2.600	%		07/23/26		250,000		264,095
Regions Financial Corp.		2.250	%		05/18/25		275,000		285,354
Royal Bank of Canada		1.950	%		01/17/23		250,000		256,807
Royal Bank of Canada		1.150	%		06/10/25		365,000		364,812
State Street Corp.		2.354	%		11/01/25		175,000		184,069
Toronto-Dominion Bank (The) (SOFR + 48) (a)		0.490	%		01/27/23		425,000		426,785
Toronto-Dominion Bank (The)		0.750	%		01/06/26		350,000		341,949
Truist Financial Corp.		2.150	%		12/06/24		250,000		261,705
Truist Financial Corp.		1.267	%		03/02/27		600,000		593,680
US Bancorp		2.400	%		07/30/24		350,000		368,852
Wells Fargo & Co.		3.550	%		09/29/25		925,000		1,008,250
Wells Fargo & Co.		2.188	%		04/30/26		275,000		283,715

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Corporate Credit - 17.0% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
Banking - 5.4% (continued)
Wells Fargo & Co.		2.393	%		06/02/28	$	250,000	$	256,223
									19,241,155
Basic Industry - 0.5%
Air Products and Chemicals, Inc.		1.850	%		05/15/27		475,000		480,452
FMC Corp.		3.450	%		10/01/29		300,000		315,817
Nucor Corp.		2.000	%		06/01/25		250,000		256,475
PPG Industries, Inc.		2.400	%		08/15/24		110,000		115,327
PPG Industries, Inc.		2.550	%		06/15/30		300,000		303,319
Sherwin-Williams Co.		2.300	%		05/15/30		250,000		246,218
									1,717,608
Brokerage Asset Managers Exchanges - 0.3%
Ameriprise Financial, Inc.		3.000	%		04/02/25		250,000		265,987
CBOE Holdings, Inc.		3.650	%		01/12/27		100,000		110,013
Charles Schwab Corp. (The)		0.900	%		03/11/26		500,000		493,526
International Exchange, Inc.		0.700	%		06/15/23		275,000		275,910
									1,145,436
Capital Goods - 0.4%
Carrier Global Corp.		2.700	%		02/15/31		250,000		249,925
General Electric Capital Corp.		6.750	%		03/15/32		300,000		401,810
L3 Harris Technologies, Inc.		3.850	%		12/15/26		50,000		55,357
Lennox International, Inc.		3.000	%		11/15/23		100,000		105,465
Republic Services, Inc.		2.500	%		08/15/24		200,000		210,399
Waste Management, Inc.		1.150	%		03/15/28		300,000		284,195
									1,307,151
Communications - 1.4%
American Tower Corp.		2.250	%		01/15/22		50,000		50,698
American Tower Corp.		3.800	%		08/15/29		100,000		108,876
American Tower Corp.		2.100	%		06/15/30		100,000		95,159
AT&T, Inc.		2.300	%		06/01/27		650,000		664,306
AT&T, Inc. (b)		2.550	%		12/01/33		114,000		108,231
AT&T, Inc.		4.500	%		05/15/35		100,000		112,787
British Telecommunications plc (b)		3.250	%		11/08/29		275,000		287,610
Comcast Corp.		3.950	%		10/15/25		750,000		837,855
Comcast Corp.		2.650	%		02/01/30		100,000		102,368
Comcast Corp.		1.950	%		01/15/31		250,000		240,776

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Corporate Credit - 17.0% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
Communications - 1.4% (continued)
Comcast Corp.		3.969	%		11/01/47	$	144,000	$	160,801
Deutsche Telekom International Finance (b)		4.750	%		06/21/38		100,000		117,629
Twenty-First Century Fox, Inc.		4.030	%		01/25/24		50,000		54,311
Verizon Communications, Inc.		0.750	%		03/22/24		750,000		750,984
Verizon Communications, Inc. (3MO LIBOR + 110) (a)		1.298	%		05/15/25		100,000		102,250
Verizon Communications, Inc.		4.125	%		03/16/27		100,000		113,293
Verizon Communications, Inc.		3.000	%		03/22/27		120,000		128,403
Verizon Communications, Inc.		1.750	%		01/20/31		500,000		465,617
Verizon Communications, Inc. (b)		2.987	%		10/30/56		143,000		126,232
Walt Disney Co. (The)		1.750	%		08/30/24		175,000		180,721
Walt Disney Co. (The)		3.800	%		03/22/30		100,000		111,461
									4,920,368
Consumer Cyclical - 1.0%
BMW US Capital, LLC (b)(c)		3.900	%		04/09/25		300,000		330,772
CVS Health Corp.		3.750	%		04/01/30		500,000		545,432
CVS Health Corp.		5.050	%		03/25/48		250,000		306,910
Daimler Finance LLC (b)		1.750	%		03/10/23		275,000		281,116
Ford Motor Co.		4.346	%		12/08/26		100,000		105,375
Ford Motor Co.		7.450	%		07/16/31		75,000		94,562
General Motors Financial Co., Inc.		3.200	%		07/06/21		35,000		35,152
General Motors Financial Co., Inc.		4.000	%		10/06/26		100,000		109,098
Home Depot, Inc. (The) (c)		0.900	%		03/15/28		500,000		477,184
Home Depot, Inc. (The)		3.500	%		09/15/56		100,000		103,135
Toyota Motor Credit Corp. (c)		0.800	%		01/09/26		300,000		294,625
Volkswagen AG (b)		2.500	%		09/24/21		200,000		202,183
Volkswagen Group America (b)(c)		0.750	%		11/23/22		500,000		501,426
Walgreens Boots Alliance, Inc. (c)		3.200	%		04/15/30		250,000		259,614
									3,646,584
Consumer Non-Cyclical - 0.9%
Abbott Laboratories		4.750	%		11/30/36		100,000		123,743
AbbVie, Inc.		2.950	%		11/21/26		335,000		356,668
AbbVie, Inc.		4.550	%		03/15/35		100,000		116,128
Amgen, Inc.		2.650	%		05/11/22		140,000		143,261
Amgen, Inc.		1.900	%		02/21/25		310,000		320,161

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Corporate Credit - 17.0% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
Consumer Non-Cyclical - 0.9% (continued)
Anheuser-Busch Cos., LLC		4.700	%		02/01/36	$	100,000	$	117,147
Anheuser-Busch InBev SA/NV		4.750	%		01/23/29		100,000		116,855
Anheuser-Busch InBev SA/NV (c)		3.500	%		06/01/30		600,000		649,774
Kimberly-Clark Corp.		3.950	%		11/01/28		100,000		113,776
Kroger Co. (The) (c)		2.650	%		10/15/26		100,000		105,478
Kroger Co. (The)		2.200	%		05/01/30		125,000		122,407
Kroger Co. (The) (c)		1.700	%		01/15/31		300,000		280,168
Zoetics, Inc., Series 4006		2.000	%		05/15/30		525,000		505,871
									3,071,437
Electric - 1.6%
Ameren Corp.		2.500	%		09/15/24		130,000		136,673
American Electric Power, Inc. (c)		1.000	%		11/01/25		500,000		489,955
Berkshire Hathaway Energy Corp.		1.650	%		05/15/31		500,000		464,826
CMS Energy Corp.		2.950	%		02/15/27		100,000		105,668
Dominion Energy Inc		1.450	%		04/15/26		750,000		746,998
DTE Energy Co., Series C (a)		2.529	%		10/01/24		150,000		157,181
DTE Energy Co., Series E		2.850	%		10/01/26		100,000		105,651
DTE Energy Co., Series H		2.950	%		03/01/30		125,000		127,152
Duke Energy Indiana LLC		2.750	%		04/01/50		370,000		331,806
Georgia Power Co., Series 2020-A		2.100	%		07/30/23		230,000		237,403
MidAmerican Energy Co.		3.650	%		04/15/29		350,000		388,245
Northern States Power Co. of Wisconsin (c)		2.250	%		04/01/31		500,000		499,382
Northern States Power Co. of Wisconsin		2.900	%		03/01/50		125,000		119,405
Oncor Electric Delivery Co. LLC		3.750	%		04/01/45		490,000		526,330
PECO Energy Co.		3.000	%		09/15/49		200,000		191,453
PPL Electric Utilities		3.000	%		10/01/49		160,000		151,885
Public Service Electric & Gas Co.		2.250	%		09/15/26		100,000		104,599
Southwestern Electric Power		2.750	%		10/01/26		100,000		105,188
WEC Energy Group Inc.		0.800	%		03/15/24		700,000		699,809
									5,689,609
Energy - 0.9%
BP Capital Markets plc		3.194	%		04/06/25		175,000		188,309
Chevron Corp. (c)		1.995	%		05/11/27		500,000		511,195
Cimarex Energy Co.		3.900	%		05/15/27		100,000		108,863
Diamondback Energy, Inc.		3.250	%		12/01/26		200,000		210,786

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Corporate Credit - 17.0% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
Energy - 0.9% (continued)
Energy Transfer Operating LP		4.500	%		04/15/24	$	75,000	$	81,792
Exxon Mobil Corp.		2.992	%		03/19/25		240,000		257,180
Phillips 66 Partners LP		3.700	%		04/06/23		250,000		264,890
Phillips 66 Partners LP		2.450	%		12/15/24		100,000		104,022
Phillips 66 Partners LP		3.550	%		10/01/26		100,000		106,890
Royal Dutch Shell plc		2.375	%		11/07/29		320,000		322,928
Shell International Finance BV		6.375	%		12/15/38		73,000		104,607
Suncor Energy, Inc.		2.800	%		05/15/23		300,000		313,375
Total Capital International SA		2.829	%		01/10/30		120,000		124,806
Valero Energy Corp.		2.700	%		04/15/23		250,000		259,526
Valero Energy Corp.		3.400	%		09/15/26		100,000		106,930
									3,066,099
Insurance - 2.3%
Allstate Corp. (The)		0.750	%		12/15/25		1,000,000		982,661
Athene Global Funding (b)		2.500	%		01/14/25		225,000		233,073
Berkshire Hathaway Financial (c)		1.850	%		03/12/30		250,000		243,910
Equitable Financial Life (b)		1.800	%		03/08/28		609,000		595,485
Jackson National Life Global Funding (3MO LIBOR + 48) (a)(b)		0.657	%		06/11/21		50,000		50,039
Jackson National Life Global Funding (b)		2.100	%		10/25/21		50,000		50,481
Lincoln National Corp.		3.625	%		12/12/26		100,000		109,954
Massmutual Global Funding (b)		2.150	%		03/09/31		500,000		493,483
Met Life Global Financials (b)		1.550	%		01/07/31		500,000		463,833
Met Life Global Funding I (b)		1.950	%		01/13/23		200,000		205,410
Met Life Global Funding I (b)(c)		0.900	%		06/08/23		250,000		252,203
New York Life Global Funding (b)		2.900	%		01/17/24		100,000		106,262
New York Life Global Funding (b)		2.350	%		07/14/26		50,000		52,116
New York Life Global Funding (b)		1.200	%		08/07/30		1,250,000		1,132,344
Pacific Life Global Fund II (b)		1.450	%		01/20/28		500,000		483,844
Pricoa Global Funding (b)		3.450	%		09/01/23		160,000		171,229
Principal Life Global Fund II (b)		0.875	%		01/12/26		500,000		485,589
Principal Life Global Funding II (b)		2.375	%		11/21/21		100,000		101,365
Principal Life Global Funding II (b)		1.250	%		06/23/25		525,000		523,977
Progressive Corp.		3.200	%		03/26/30		240,000		257,603

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Corporate Credit - 17.0% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
Insurance - 2.3% (continued)
Protective Life Global Funding (b)		1.737	%		09/21/30	$	1,100,000	$	1,028,893
									8,023,754
Natural Gas - 0.1%
Atmos Energy Corp.		2.625	%		09/15/29		310,000		315,046
Other Utility - 0.1%
American Water Capital Corp.		2.800	%		05/01/30		300,000		308,532
REITS - 0.9%
Alexandria Real Estate Equities, Inc.		3.950	%		01/15/28		100,000		111,148
American Campus Communities, Inc.		3.625	%		11/15/27		100,000		109,245
American Homes 4 Rent		4.250	%		02/15/28		100,000		109,638
Boston Properties LP		2.750	%		10/01/26		50,000		52,690
CubeSmart LP		3.125	%		09/01/26		50,000		53,160
CubeSmart LP		3.000	%		02/15/30		280,000		284,374
CubeSmart LP		2.000	%		02/15/31		200,000		187,182
ERP Operating LP		2.850	%		11/01/26		100,000		106,518
ERP Operating LP		2.500	%		02/15/30		150,000		150,524
Life Storage LP		3.875	%		12/15/27		100,000		110,720
Realty Income Corp.		3.875	%		04/15/25		100,000		109,891
Realty Income Corp. (c)		0.750	%		03/15/26		625,000		602,260
Realty Income Corp.		3.000	%		01/15/27		100,000		106,166
Simon Property Group LP		2.000	%		09/13/24		320,000		331,189
Spirit Realty LP		4.450	%		09/15/26		100,000		110,929
Spirit Realty LP		2.100	%		03/15/28		250,000		243,066
Spirit Realty LP		4.000	%		07/15/29		60,000		64,990
Spirit Realty LP		3.200	%		02/15/31		250,000		250,251
									3,093,941
Technology - 0.5%
Apple, Inc. (c)		0.700	%		02/08/26		500,000		490,402
Apple, Inc.		3.000	%		06/20/27		100,000		108,499
Apple, Inc.		2.200	%		09/11/29		250,000		253,317
Apple, Inc.		1.650	%		05/11/30		300,000		286,946
Dell International LLC (b)		5.300	%		10/01/29		100,000		116,976
Fidelity National Information Services		1.650	%		03/01/28		300,000		293,382

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Corporate Credit - 17.0% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
Technology - 0.5% (continued)
Oracle Corp.		2.800	%		04/01/27	$	300,000	$	315,943
									1,865,465
Transportation - 0.7%
Alaska Airlines, Series 2020-1B, Class A (b)		4.800	%		08/15/27		144,088		157,752
American Airlines Pass-Through Trust, Series 2016-2, Class AA		3.200	%		12/15/29		364,275		362,775
CSX Corp.		4.250	%		11/01/66		100,000		113,617
FedEx Corp.		1.875	%		02/20/34		510,963		494,831
Kirby Corp.		4.200	%		03/01/28		100,000		108,911
Southwest Airlines Co.		3.000	%		11/15/26		100,000		105,424
U.S. Airways Pass-Through Trust, Series 2011-1, Class A		7.125	%		04/22/25		32,384		33,319
United Airlines Pass-Through Trust, Series 2013-1, Class B		5.375	%		02/15/23		161,013		162,700
United Airlines Pass-Through Trust, Series 2007-1, Class A		6.636	%		01/02/24		24,153		24,787
United Airlines Pass-Through Trust, Series 2020-1, Class B		4.875	%		07/15/27		500,000		518,750
United Airlines Pass-Through Trust, Series 2020-1, Class A		5.875	%		04/15/29		292,748		324,567
									2,407,433
Total Corporate Credit (Cost $59,132,271)								$	59,819,618

Government Related - 0.3%	Coupon			Maturity		Shares / Par Value		Fair Value
Government Guaranteed - 0.1%
Tunisian Republic		1.416	%		08/05/21		500,000		492,200

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Government Related - 0.3% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
Government Owned, No Guarantee - 0.2%
Tennessee Valley Authority		4.625	%		09/15/60	$	525,000	$	709,729
Total Government Related (Cost $1,272,972)								$	1,201,929

Securitized - 64.9%	Coupon			Maturity		Shares / Par Value		Fair Value
ABS-Other - 4.5%
BXG Receivables, Series 2018-A, Class C (b)		4.440	%		02/02/34	$	369,585	$	381,704
Cascade Funding Mortgage Trust, Series 2021-GRN1, Class B (b)		1.830	%		03/20/41		1,000,000		982,964
Diamond Resorts Owner Trust, Series 2019-1, Class B (b)		3.530	%		02/20/32		164,589		168,744
FMC GMSR Issuer Trust, Series 2019-GT2, Class A (b)		4.230	%		09/25/24		400,000		398,972
FMC GMSR Issuer Trust, Series 2020-GT1, Class A (a)(b)		4.450	%		01/25/26		1,000,000		992,369
Gold Key Resorts LLC, Series 2014-A, Class A (b)		3.220	%		03/17/31		17,121		17,327
GoodGreen Trust, Series 2017-1A, Class A (b)		3.740	%		10/15/52		75,349		78,068
GoodGreen Trust, Series 2020-1A, Class A (b)		2.630	%		04/15/55		425,698		437,410
Helios Issuer LLC, Series 2019-AA, Class A (b)		3.750	%		06/20/46		117,526		125,957
Helios Issuer LLC, Series 2020-4, Class A (b)		2.980	%		06/20/47		268,377		277,270
Helios Issuer LLC, Series 2021-A, Class A (b)		1.800	%		02/20/48		618,644		611,274
Hero Funding Trust, Series 2016-2A, Class A (b)		3.750	%		09/20/41		159,236		164,358
Hero Funding Trust, Series 2016-3A, Class A1 (b)		3.080	%		09/20/42		207,522		213,131
Hero Funding Trust, Series 2016-3B, Class B (b)		5.240	%		09/20/42		10,900		11,005
Hero Funding Trust, Series 2016-4A, Class A1 (b)		3.570	%		09/20/47		227,189		236,592
Hero Funding Trust, Series 2016-4B, Class B (b)		4.990	%		09/20/47		123,659		126,318
Hero Funding Trust, Series 2017-3A, Class A1 (b)		3.190	%		09/20/48		199,044		208,051
Hero Funding Trust, Series 2018-1A, Class A2 (b)		4.670	%		09/20/48		78,844		86,487

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 64.9% (continued)	Coupon		Maturity		Shares / Par Value		Fair Value
ABS-Other - 4.5% (continued)
Hilton Grand Vacations Trust, Series 2020-A, Class B (b)	4.220	%		02/25/39	$	371,594	$	396,436
Holiday Inn Timeshare Trust, Series 2020-A, Class C (b)	3.420	%		10/09/39		617,231		640,248
Loanpal Solar Loan Ltd., Series 2020-3GS, Class B (b)	3.450	%		12/20/47		600,000		615,278
Loanpal Solar Loan Ltd., Series 2021-1GS, Class A (b)	2.290	%		01/20/48		707,221		707,248
Loanpal Solar Loan Ltd., Series 2021-1GS, Class B (b)	2.840	%		01/20/48		1,000,000		978,581
Loanpal Solar Loan Ltd., Series 2021-2GS, Class A (b)	2.220	%		03/20/48		1,000,000		999,736
Mill City Solar Loan Ltd., Series 2019-2GS, Class A (b)	3.690	%		07/20/43		178,449		188,229
Mosaic Solar Loans LLC, Series 2018-1, Class A (b)	4.010	%		06/22/43		108,034		116,475
Mosaic Solar Loans LLC, Series 2017-2, Class B (b)	4.770	%		06/22/43		64,486		69,834
Mosaic Solar Loans LLC, Series 2020-1, Class A (b)	2.100	%		04/20/46		290,405		293,184
Ocwen Master Advance Receivables, Series 2020-T1, Class A-T1 (b)	1.300	%		08/15/52		670,000		671,650
PNMAC GMSR Issuer Trust, Series 2018-GT2, Class NT (1MO LIBOR + 265) (a)(b)	2.768	%		08/25/23		1,000,000		995,028
Renew Financial LLC, Series 2017-1, Class A (b)	3.670	%		09/20/52		88,885		94,368
Renew Financial LLC, Series 2017-1, Class B (b)	5.750	%		09/20/52		36,508		37,456
Renew Financial LLC, Series 2017-2, Class A (b)	3.220	%		09/22/53		50,168		51,028
SPS Servicer Advance Receivables, Series 2020-T1, Class DT1 (b)	2.370	%		11/15/52		199,000		199,765
SPS Servicer Advance Receivables, Series 2020-T2, Class D (b)	3.160	%		11/15/55		494,000		482,076
Sunnova Solar Issuer LLC, Series 2020-2A, Class A (b)	2.730	%		11/01/55		1,093,755		1,091,838

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 64.9% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
ABS-Other - 4.5% (continued)
TES LLC, Series 2017-1, Class A (b)		4.330	%		10/20/47	$	286,854	$	298,168
Westgate Resorts, Series 2018-1, Class B (b)		3.580	%		12/20/31		86,363		86,131
Westgate Resorts, Series 2018-1, Class C (b)		4.100	%		12/20/31		86,363		85,754
Westgate Resorts, Series 2020-1, Class B (b)		3.963	%		03/20/34		164,325		169,649
Westgate Resorts, Series 2020-1A, Class C (b)		6.213	%		03/20/34		821,624		866,269
									15,652,430
Agency CMBS - 1.0%
FNMA, Pool #AN3047		2.370	%		10/01/26		128,300		135,502
FNMA, Series 2019-M21, Class 1A1		1.950	%		04/25/28		544,416		559,602
FNMA, Pool #AN3598		2.550	%		12/01/28		275,867		291,886
FNMA, Pool #BL4548		2.430	%		10/01/29		194,457		203,761
FNMA, Pool #FN 464107		4.820	%		12/01/29		126,729		143,325
FNMA, Pool #FN AM9491		3.550	%		08/01/30		173,281		191,938
FNMA, Pool #AN6149		3.140	%		07/01/32		750,000		819,769
FNMA, Pool #AN7612		3.280	%		12/01/32		250,000		274,763
FNMA, Pool #FN 469130		4.870	%		10/01/41		128,920		148,011
FNMA, Pool #FN AM9491		4.940	%		12/01/43		763,446		896,692
									3,665,249
Agency MBS CMO - 22.1%
FHLMA, Series 4847, Class CV		3.500	%		02/15/30		452,935		491,794
FHLMA, Series 4673, Class PH		3.500	%		01/15/45		542,484		569,065
FHLMA, Series 4531, Class PZ		3.500	%		11/15/45		1,318,158		1,419,946
FHLMC, Series 306, Class F3 (1MO LIBOR + 30) (a)		0.406	%		05/15/28		83,183		81,907
FHLMC, Series 2646, Class ZH		5.000	%		07/15/33		120,726		144,944
FHLMC, Series 4265, Class FD (1MO LIBOR + 40) (a)		0.506	%		01/15/35		336,551		339,137
FHLMC, Series 2006-71, Class ZH		6.000	%		07/25/36		394,184		464,461
FHLMC, Series 4613, Class AF (1MO LIBOR + 110) (a)		1.206	%		11/15/37		108,373		108,841
FHLMC, Series 3605, Class PB		4.500	%		11/15/39		98,065		108,559
FHLMC, Series 3617, Class PC		4.500	%		12/15/39		103,114		114,929
FHLMC, Series 3740, Class FC (1MO LIBOR + 50) (a)		0.606	%		10/15/40		135,418		136,883
FHLMC, Series 3759, Class ME		4.000	%		11/15/40		555,000		575,065

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 64.9% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
Agency MBS CMO - 22.1% (continued)
FHLMC, Series 3811, Class TA		5.000	%		02/15/41	$	262,142	$	301,736
FHLMC, Series 3895, Class BF (1MO LIBOR + 50) (a)		0.606	%		07/15/41		118,055		119,307
FHLMC, Series 4116, Class UB		2.500	%		05/15/42		1,000,000		1,000,216
FHLMC, Series 4074, Class JY		2.500	%		07/15/42		475,000		479,188
FHLMC, Series 4165, Class ZT		3.000	%		02/15/43		306,480		310,341
FHLMC, Series 4180, Class ZB		3.000	%		03/15/43		604,807		589,132
FHLMC, Series 4210, Class Z		3.000	%		05/15/43		251,863		255,874
FHLMC, Series 4447, Class YZ		4.000	%		08/15/43		1,524,890		1,691,881
FHLMC, Series 4333, Class GL		3.500	%		04/15/44		250,000		270,772
FHLMC, Series 4408, Class BC		3.000	%		11/15/44		1,020,410		1,039,603
FHLMC, Series 4830, Class DA		4.500	%		11/15/44		17,565		17,614
FHLMC, Series 4731, Class EA		3.000	%		10/15/45		281,550		297,404
FHLMC, Series 4738, Class TW		3.000	%		11/15/46		1,385,000		1,471,542
FHLMC, Series 4857, Class H		4.000	%		11/15/46		471,592		500,476
FHLMC, Series 4736, Class CL		3.000	%		12/15/47		441,240		459,864
FHLMC, Series 4753, Class EZ		3.500	%		12/15/47		1,964,806		2,082,698
FHLMC, Series 4750, Class KZ		3.500	%		01/15/48		1,456,372		1,559,152
FHLMC, Series 4801, Class ZN		4.000	%		05/15/48		1,119,794		1,224,118
FHLMC, Series 4941, Class NW		2.500	%		05/25/49		758,520		728,442
FHLMC, Series 4911, Class JM		3.500	%		09/25/49		1,000,000		1,073,248
FHLMC, Series 5011, Class DB		2.000	%		09/25/50		262,000		218,072
FHLMC, Series 4377, Class KZ (a)		3.500	%		02/15/52		784,750		841,670
FNMA, Series 2010-155, Class JH		4.000	%		12/25/28		120,000		132,632
FNMA, Series 2013-35, Class YT		6.500	%		09/25/32		257,873		302,607
FNMA, Series 2012-129, Class HT		2.000	%		12/25/32		134,305		131,139
FNMA, Series 2002-86, Class PG		6.000	%		12/25/32		78,579		92,986
FNMA, Series 2004-56, Class Z		7.500	%		03/25/34		146,209		177,099
FNMA, Series 2004-17, Class BA		6.000	%		04/25/34		224,529		277,414
FNMA, Series 2005-3, Class CG		5.500	%		02/25/35		176,010		196,548
FNMA, Series 2005-62, Class ZL		5.500	%		07/25/35		329,203		368,867
FNMA, Series 2006-56, Class DC (1MO LIBOR + 65) (a)		0.759	%		07/25/36		126,157		126,596
FNMA, Series 2009-19, Class TD		5.000	%		08/25/36		105,932		119,544

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 64.9% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
Agency MBS CMO - 22.1% (continued)
FNMA, Series 2006-108, Class FD (1MO LIBOR + 38) (a)		0.489	%		11/25/36	$	153,437	$	155,213
FNMA, Series 2007-39, Class NB		4.250	%		05/25/37		148,981		160,152
FNMA, Series 2008-60, Class JC		5.000	%		07/25/38		230,430		261,481
FNMA, Series 2009-103, Class MB (a)		2.916	%		12/25/39		52,451		54,850
FNMA, Series 2010-2, Class LC		5.000	%		02/25/40		200,000		232,889
FNMA, Series 2011-14, Class PB		5.000	%		03/25/41		570,000		654,840
FNMA, Series 2011-57, Class PD		4.000	%		07/25/41		321,407		360,250
FNMA, Series 2011-62, Class UA		4.500	%		07/25/41		1,060,897		1,110,681
FNMA, Series 2012-9, Class FC (1MO LIBOR + 40) (a)		0.509	%		02/25/42		153,031		154,473
FNMA, Series 2013-34, Class GP		3.000	%		05/25/42		796,299		817,447
FNMA, Series 2012-56, Class WC		3.500	%		05/25/42		1,565,989		1,648,111
FNMA, Series 2012-79, Class QB		2.000	%		07/25/42		353,875		361,311
FNMA, Series 2012-84, Class JL		2.000	%		08/25/42		163,339		149,301
FNMA, Series 411, Class A3		3.000	%		08/25/42		48,018		50,136
FNMA, Series 2012-99, Class UY		2.500	%		09/25/42		329,000		324,652
FNMA, Series 2016-32, Class GO (PO)		0.000	%		01/25/43		170,777		122,707
FNMA, Series 2013-35, Class LP		3.000	%		01/25/43		352,000		378,595
FNMA, Series 2013-6, Class QA		2.500	%		02/25/43		505,077		468,663
FNMA, Series 2013-35, Class CV		3.000	%		02/25/43		350,000		369,369
FNMA, Series 2013-13, Class WH		3.500	%		03/25/43		1,000,000		962,213
FNMA, Series 2013-31, Class NT		3.000	%		04/25/43		106,166		107,677
FNMA, Series 2013-104, Class CY		5.000	%		10/25/43		250,000		296,296
FNMA, Series 2013-115, Class PB		4.500	%		11/25/43		300,000		343,460
FNMA, Series 2015-11, Class MZ		4.000	%		12/25/43		4,639,644		5,006,900
FNMA, Series 2014-2, Class PB		4.000	%		02/25/44		870,633		906,981
FNMA, Series 4473, Class Z		3.000	%		05/15/45		381,116		385,126
FNMA, Series 2017-16, Class UW		3.000	%		07/25/45		2,044,494		2,204,077
FNMA, Series 2016-68, Class AL		3.000	%		10/25/46		850,000		912,210
FNMA, Series 2017-04, Class ZC		3.500	%		02/25/47		2,891,894		3,035,268
FNMA, Series 2017-77, Class HZ		3.500	%		10/25/47		1,982,050		2,079,888
FNMA, Series 2017-90, Class ZD		3.500	%		11/25/47		2,253,662		2,367,909

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 64.9% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
Agency MBS CMO - 22.1% (continued)
FNMA, Series 2018-08, Class DZ		3.500	%		02/25/48	$	1,117,028	$	1,172,610
FNMA, Series 2018-31, Class KQ		3.500	%		05/25/48		847,826		886,981
FNMA, Series 2018-66, Class PZ		4.000	%		09/25/48		531,449		583,895
FNMA, Series 2019-01, Class MH		3.000	%		02/25/49		508,779		532,472
FNMA, Series 2019-8, Class ZD		3.500	%		03/25/49		537,763		597,092
FNMA, Series 2019-40, Class PL		4.000	%		07/25/49		318,000		344,777
FNMA, Series 2019-60, Class WZ		2.750	%		10/25/49		545,764		541,670
FNMA, Series 2019-83, Class EB		2.000	%		01/25/50		171,000		149,604
FNMA, Series 2020-15, Class KY		3.000	%		03/25/50		2,077,414		2,170,710
GNMA, Series 2015-161, Class AV		3.000	%		01/20/29		403,974		429,009
GNMA, Series 2018-139, Class DV		3.500	%		01/20/30		489,978		515,615
GNMA, Series 2004-49, Class MZ		6.000	%		06/20/34		389,686		461,059
GNMA, Series 2005-13, Class BG		5.000	%		02/20/35		276,815		312,416
GNMA, Series 2015-123, Class VB		3.500	%		09/20/35		436,000		467,583
GNMA, Series 2006-17, Class JN		6.000	%		04/20/36		231,426		264,826
GNMA, Series 2008-51, Class PH		5.250	%		06/20/38		143,192		159,560
GNMA, Series 2009-2, Class PA		5.000	%		12/20/38		107,244		117,296
GNMA, Series 2010-9, Class FA (1MO LIBOR + 52) (a)		0.626	%		01/16/40		144,262		145,648
GNMA, Series 2014-79, Class HU		3.000	%		02/16/40		811,015		804,919
GNMA, Series 2010-105, Class ZC		4.500	%		08/16/40		482,578		549,451
GNMA, Series 2013-22, Class GA		2.500	%		10/20/41		33,362		34,191
GNMA, Series 2012-74, Class LY		2.500	%		06/20/42		318,000		309,619
GNMA, Series 2012-134, Class KM		2.000	%		09/20/42		342,000		324,258
GNMA, Series 2012-113, Class NZ		4.500	%		09/20/42		266,611		272,821
GNMA, Series 2012-143, Class EG		2.000	%		12/20/42		43,157		44,295
GNMA, Series 2013-6, Class PE		2.000	%		01/20/43		100,000		93,745
GNMA, Series 2013-5, Class GY		3.000	%		01/20/43		532,000		562,499
GNMA, Series 2015-179, Class ZB		2.500	%		02/20/45		56,201		54,329
GNMA, Series 2016-37, Class YA		3.000	%		12/20/45		1,052,887		1,115,088
GNMA, Series 2016-38, Class ZP		3.500	%		03/20/46		71,457		74,451
GNMA, Series 2016-74, Class PL		3.000	%		05/20/46		1,348,000		1,403,406

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 64.9% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
Agency MBS CMO - 22.1% (continued)
GNMA, Series 2016-111, Class HA		2.500	%		08/20/46	$	92,869	$	88,892
GNMA, Series 2016-118, Class LB		3.000	%		09/20/46		1,000,000		1,040,454
GNMA, Series 2017-080, Class BZ		3.500	%		05/20/47		400,176		429,133
GNMA, Series 2018-006, Class JY		2.750	%		01/20/48		284,000		253,577
GNMA, Series 2018-14, Class MZ		3.000	%		01/20/48		379,337		370,087
GNMA, Series 2018-120, Class PY		3.500	%		09/20/48		689,379		727,434
GNMA, Series 2019-20, Class JK		3.500	%		02/20/49		280,705		299,937
GNMA, Series 2019-031, Class AZ		5.000	%		03/20/49		318,599		362,914
GNMA, Series 2019-052, Class HL		4.000	%		04/20/49		490,565		523,941
GNMA, Series 2019-86, Class WL		3.000	%		07/20/49		500,000		531,094
GNMA, Series 2019-99, Class EW		3.000	%		08/20/49		540,446		574,729
GNMA, Series 2019-99, Class GP		3.500	%		08/20/49		517,000		554,587
GNMA, Series 2019-162, Class GB		3.000	%		12/20/49		450,000		460,941
GNMA, Series 2020-011, Class KB		2.500	%		01/20/50		788,000		753,514
GNMA, Series 2020-015, Class HL		2.500	%		02/20/50		1,385,112		1,371,241
GNMA, Series 2020-093, Class AZ		3.000	%		04/20/50		792,677		816,956
GNMA, Series 2020-078, Class B		2.500	%		06/20/50		350,000		349,881
GNMA, Series 2020-097, Class ML		2.500	%		07/20/50		1,975,000		1,970,416
GNMA, Series 2017-H18, Class EB (12MO LIBOR + 22) (a)		4.210	%		06/20/63		311,674		324,531
GNMA, Series 2014-H15, Class FA (1MO LIBOR + 50) (a)		0.619	%		07/20/64		88,405		88,979
GNMA, Series 2014-H14, Class FA (1MO LIBOR + 50) (a)		0.644	%		07/20/64		356,969		359,023
GNMA, Series 2016-H11, Class FD (12MO LIBOR + 40) (a)		1.402	%		05/20/66		257,645		257,971
GNMA, Series 2017-H16, Class DB (a)		4.726	%		08/20/67		265,462		274,723
									77,737,289
Agency MBS CMO Derivatives - 3.4%
FHLMC, Series 3919, Class QS (IO) (-1*1MO LIBOR + 670) (a)		6.594	%		08/15/30		2,163,882		306,801
FHLMC, Series 4214, Class CI (IO)		3.000	%		06/15/31		970,352		38,489
FHLMC, Series 4114, Class IM (IO)		3.500	%		07/15/31		1,432,856		72,340

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 64.9% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
Agency MBS CMO Derivatives - 3.4% (continued)
FHLMC, Series 4169, Class SA (-1.2*1MO LIBOR + 546) (a)		5.313	%		02/15/33	$	906,830	$	938,314
FHLMC, Series 226		0.000	%		02/01/34		166,028		153,460
FHLMC, Series 3107, Class DC (IO) (-1*1MO LIBOR + 670) (a)		6.594	%		06/15/35		2,573,809		173,743
FHLMC, Series 3102, Class TA (IO)		7.500	%		01/15/36		259,999		290,020
FHLMC, Series 3607, Class AO (PO)		0.000	%		04/15/36		111,438		100,411
FHLMC, Series 237, Class S14 (IO) (-1*1MO LIBOR + 660) (a)		6.494	%		05/15/36		470,952		92,668
FHLMC, Series 3199, Class OC (PO)		0.000	%		08/15/36		169,489		155,251
FHLMC, Series 379, Class I (PO)		0.000	%		05/25/37		62,503		57,826
FHLMC, Series 3607, Class OP (PO)		0.000	%		07/15/37		379,157		337,448
FHLMC, Series 4006, Class IA (IO)		4.500	%		09/15/41		652,065		71,205
FHLMC, Series 4116, Class LI (IO)		4.500	%		02/15/42		2,257,859		284,631
FHLMC, Series 4074, Class SJ (IO) (-1*1MO LIBOR + 662) (a)		6.514	%		07/15/42		1,200,768		285,562
FHLMC, Pool #S0-6050 (PO)		0.000	%		08/15/42		282,674		247,148
FHLMC, Pool #S0-6829 (PO)		0.000	%		09/15/43		442,692		376,100
FNMA, Series 2012-128, Class EI (IO)		3.500	%		11/25/27		516,199		34,957
FNMA, Series 2012-148, Class IA (IO)		4.000	%		01/25/28		273,059		22,609
FNMA, Series 2004-91, Class SP (-2.40*1MO LIBOR + 1680) (a)		16.539	%		11/25/31		242,373		323,419
FNMA, Series 2004-61, Class GO (PO)		0.000	%		11/25/32		548,427		514,149
FNMA, Series 2013-89, Class DI (IO)		4.000	%		08/25/33		2,397,840		255,550
FNMA, Series 348, Class II (IO)		6.000	%		01/25/34		101,285		21,032
FNMA, Series 2015-82, Class AI (IO)		3.500	%		06/25/34		1,326,145		125,293
FNMA, Series 2016-28, Class DI (IO)		3.500	%		03/25/35		1,208,931		123,407
FNMA, Series 384, Class 11 (IO)		5.000	%		03/25/35		843,561		137,928
FNMA, Series 2005-52, Class JH (IO) (-1*1MO LIBOR + 660) (a)		6.491	%		05/25/35		453,313		70,220
FNMA, Series 378, Class (IO)		5.000	%		06/01/35		882,103		143,365
FNMA, Series 2016-24, Class KI (IO)		3.500	%		07/25/35		607,312		68,389
FNMA, Series 368, Class (IO)		5.000	%		02/01/36		721,191		95,830
FNMA, Series 2006-96, Class MO (PO)		0.000	%		10/25/36		57,454		54,706
FNMA, Series 398, Class C5 (IO)		5.000	%		05/25/39		982,174		189,701

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 64.9% (continued)	Coupon		Maturity		Shares / Par Value		Fair Value
Agency MBS CMO Derivatives - 3.4% (continued)
FNMA, Series 2013-120, Class JI (IO)	4.000	%		02/25/40	$	409,908	$	13,496
FNMA, Series 2010-44, Class CS (IO) (-1*1MO LIBOR + 655) (a)	6.441	%		05/25/40		86,639		13,804
FNMA, Series 2012-63, Class NI (IO)	4.000	%		06/25/40		1,548,575		69,337
FNMA, Series 2011-14, Class PI (IO)	5.000	%		06/25/40		68,615		2,737
FNMA, Series 2012-100, Class MI (IO)	4.500	%		12/25/40		381,243		19,808
FNMA, Series 409, Class C1	4.000	%		04/01/42		1,611,011		223,050
FNMA, Series 2012-128, Class SH (1MO LIBOR + 400) (a)	3.891	%		11/25/42		500,324		439,186
FNMA, Series 2016-30, Class IN (IO)	3.500	%		02/25/43		2,616,101		184,414
FNMA, Series 2013-30, Class SA (-1*1MO LIBOR + 400)(a)	3.877	%		04/25/43		740,391		681,256
FNMA, Series 2003-W10, Class 3IO (IO) (a)	0.630	%		06/25/43		12,025,982		190,742
FNMA, Series 2013-82, Class SB (-2.67*1MO LIBOR + 1173) (a)	11.406	%		08/25/43		350,236		418,669
FNMA, Series 2013-101, Class DO (PO)	0.000	%		10/25/43		155,183		132,121
FNMA, Series 2014-42, Class SN (IO) (-1*1MO LIBOR + 605) (a)	5.941	%		07/25/44		643,230		119,077
FNMA, Series 2019-31, Class CI (IO)	4.000	%		02/25/47		2,155,380		153,051
FNMA, Series 2018-11B, Class QI	4.000	%		01/25/48		4,773,507		441,088
GNMA, Series 2010-47, Class PX (IO) (-1*1MO LIBOR + 670) (a)	6.589	%		06/20/37		850,980		170,921
GNMA, Series 2012-146, Class AI (IO)	3.000	%		10/20/37		2,026,986		93,261
GNMA, Series 2008-38, Class ID (IO)	6.000	%		03/20/38		321,597		22,918
GNMA, Series 2013-124, Class ES (-1.333 * 1MO LIBOR + 866.7) (a)	8.519	%		04/20/39		38,808		40,376
GNMA, Series 2013-147, Class SD (-1*1MO LIBOR + 665) (a)	6.539	%		12/20/39		2,167,219		459,932
GNMA, Series 2011-21, Class SA (IO) (-1*1MO LIBOR + 600) (a)	5.894	%		02/16/41		2,602,060		470,073
GNMA, Series 2011-145, Class QI (IO)	5.000	%		11/16/41		237,070		37,384
GNMA, Series 2013-113, Class QS (IO) (-1*1MO LIBOR + 620) (a)	6.089	%		02/20/42		674,273		113,222
GNMA, Series 2014-141, Class IE (IO)	4.000	%		08/20/43		275,720		10,229
GNMA, Series 2017-004, Class WI (IO)	4.000	%		02/20/44		1,811,747		169,221

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 64.9% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
Agency MBS CMO Derivatives - 3.4% (continued)
GNMA, Series 2016-32, Class MS (IO) (-1*1MO LIBOR + 605) (a)		5.939	%		03/20/46	$	2,393,123	$	448,483
GNMA, Series 2019-98, Class BI (IO)		3.000	%		06/20/49		847,484		277,587
GNMA, Series 2019-120, Class DI (IO)		3.500	%		08/20/49		3,433,078		412,511
GNMA, Series 2012-H02, Class AI (IO) (a)		1.908	%		01/20/62		134,928		6,005
GNMA, Series 2013-H13, Class T1 (IO) (a)		0.468	%		05/20/63		1,992,919		22,437
GNMA, Series 2016-H20, Class GI (IO) (a)		0.317	%		08/20/66		1,741,975		18,863
GNMA, Series 2017-H11, Class PI (IO) (a)		3.864	%		04/20/67		38,283		1,035
GNMA, Series 2017-H22, Class ID (IO) (a)		3.898	%		11/20/67		36,802		2,269
GNMA, Series 2018-H08, Class NI (IO) (a)		0.806	%		05/20/68		1,200,501		29,356
									12,069,891
Agency MBS Passthrough - 2.6%
FHLMC, Pool #FG G14973		4.000	%		12/01/28		170,496		185,863
FHLMC, Pool #FG U59010		4.000	%		11/01/34		233,624		252,939
FHLMC, Pool #G61909		4.500	%		12/01/37		606,918		674,531
FHLMC, Pool #FG G06085		6.500	%		09/01/38		75,084		88,602
FNMA, Pool #FN 252409		6.500	%		03/01/29		98,256		109,075
FNMA, Pool #FN AL5850		3.500	%		10/01/29		133,349		143,397
FNMA, Pool #FN AS7287		3.500	%		06/01/31		684,171		746,652
FNMA, Pool #FN AL3200		3.500	%		02/01/33		479,038		515,880
FNMA, Pool #FN AT7120		3.500	%		06/01/33		579,031		623,418
FNMA, Pool #FN AL5166		3.000	%		11/01/33		397,971		418,315
FNMA, Pool #FN AL6685		4.000	%		01/01/35		230,195		249,145
FNMA, Pool #FN MA2198		3.500	%		03/01/35		445,161		480,983
FNMA, Pool #FN BM1486		4.000	%		03/01/35		1,393,714		1,529,733
FNMA, Pool #FN MA3040		4.500	%		06/01/37		917,299		1,013,790
FNMA, Pool #FN AS4073		4.000	%		12/01/44		225,919		253,356
FNMA, Pool #FN MA2778		3.500	%		10/01/46		219,887		229,095
GNMA, Pool #MA5738M		4.000	%		02/20/34		397,211		422,490

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 64.9% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
Agency MBS Passthrough - 2.6% (continued)
GNMA, Pool #GN 784279		5.500	%		11/15/38	$	447,900	$	518,967
GNMA, Pool #711522X		4.500	%		07/15/40		326,308		389,238
GNMA, Pool #GN 78541		4.500	%		06/15/46		182,346		205,428
									9,050,897
ARM - 0.0% (d)
Structured Asset Securities Corp., Series 2003-37A, Class 2-A (a)		2.404	%		12/25/33		10,847		10,874
Auto Loan - 4.5%
American Credit Acceptance Receivables Trust, Series 2018-3, Class D (b)		4.140	%		10/15/24		480,000		489,003
Arivo Acceptance Auto Loan Receivables Trust, Series 2019-1, Class A (b)		2.990	%		07/15/24		70,571		71,443
Carvana Auto Receivable Trust, Series 2020-P1, Class C		1.320	%		11/09/26		500,000		496,882
Carvana Auto Receivable Trust, Series 2020-P1, Class D		1.820	%		09/08/27		400,000		397,900
Chase Credit Linked Notes, Series 2020-2, Class C (b)		1.140	%		02/25/28		383,259		384,758
CIG Auto Receivables Trust, Series 2020-1, Class D (b)		2.350	%		01/12/26		300,000		304,702
CIG Auto Receivables Trust, Series 2020-1, Class C (b)		1.750	%		02/12/26		460,000		466,529
CPS Auto Receivables Trust, Series 2020-C, Class D (b)		2.410	%		11/16/26		400,000		412,614
CPS Auto Trust, Series 2017-D, Class D (b)		3.730	%		09/15/23		246,599		249,911
CPS Auto Trust, Series 2019-C, Class C (b)		2.840	%		06/16/25		250,000		254,466
Credit Acceptance Auto Loan Trust, Series 2019-3, Class C (b)		3.060	%		03/15/29		400,000		416,789
Credit Acceptance Auto Loan Trust, Series 2020-3A, Class C (b)		2.280	%		02/15/30		550,000		561,986
DT Auto Owner Trust, Series 2019-2, Class D (b)		3.480	%		02/18/25		195,000		202,103
DT Auto Owner Trust, Series 2019-3, Class D (b)		2.960	%		04/15/25		285,000		294,887

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 64.9% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
Auto Loan - 4.5% (continued)
DT Auto Owner Trust, Series 2020-2, Class E (b)		4.730	%		03/16/26	$	300,000	$	325,294
Exeter Automobile Receivables Trust, Series 2020-2, Class D (b)		4.730	%		04/15/26		375,000		404,636
FHF Trust, Series 2020-1, Class A (b)		2.590	%		12/15/23		443,718		447,078
FHF Trust, Series 2021-1, Class A (b)		1.270	%		03/15/27		900,000		899,810
Foursight Capital Automobile Receivables, Series 2018-2, Class E (b)		5.500	%		10/15/24		750,000		791,240
Hertz Fleet Lease Funding LP, Series 2017-1, Class C (b)		3.140	%		04/10/31		1,565,000		1,575,983
Hertz Fleet Lease Funding LP, Series 2017-1, Class E (b)		5.800	%		04/10/31		1,000,000		1,015,817
Hertz Fleet Lease Funding LP, Series 2018-1, Class D (b)		4.170	%		05/10/32		300,000		301,783
Hertz Fleet Lease Funding LP, Series 2018-1, Class E (b)		5.550	%		05/10/32		600,000		606,347
Hertz Fleet Lease Funding LP, Series 2019-1, Class A1 (1MO LIBOR + 47) (a)(b)		0.576	%		01/10/33		219,335		219,805
Hertz Fleet Lease Funding LP, Series 2019-1, Class E (b)		4.620	%		01/10/33		100,000		102,110
Navistar Financial Dealer Note Master Trust, Series 2019-1, Class D (1MO LIBOR + 145) (a)(b)		1.568	%		05/28/24		285,000		285,000
OneMain Direct Auto Receivables, Series 2018-1, Class B (b)		3.710	%		04/14/25		300,000		304,656
OneMain Direct Auto Receivables, Series 2019-1, Class D (b)		4.680	%		04/14/31		675,000		742,928
OSCAR US Funding Trust, Series 2019-11, Class A-4 (b)		2.680	%		09/10/26		145,000		150,997
Santander Consumer Auto Receivables, Series 2020-B, Class D (b)		2.140	%		12/15/26		400,000		405,155
Santander Drive Auto Trust, Series 2019-3, Class D		2.680	%		10/15/25		545,000		562,070
Skopos Auto Receivables Trust, Series 2019-1, Class A (b)		2.900	%		12/15/22		25,983		26,024

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 64.9% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
Auto Loan - 4.5% (continued)
Skopos Auto Receivables Trust, Series 2019-1, Class B (b)		3.430	%		09/15/23	$	600,000	$	606,042
Tesla Auto Lease Trust, Series 2018-B, Class D (b)		5.290	%		11/22/21		250,000		253,596
Tesla Auto Lease Trust, Series 2019-A, Class C (b)		2.680	%		01/20/23		700,000		719,108
Tesla Auto Lease Trust, Series 2020-A, Class D (b)		2.330	%		02/20/24		250,000		255,757
									16,005,209
CRE/CLO - 5.2%
A10 Securitization, Series 2020-C, Class A (b)(e)		2.033	%		08/15/40		233,222		234,532
A10 Securitization, Series 2020-C, Class B (b)(e)		2.617	%		08/15/40		300,000		302,003
A10 Securitization, Series 2020-C, Class D (b)(e)		4.129	%		08/15/40		250,000		252,482
A10 Securitization, Series 2020-C, Class E (b)(e)		5.465	%		08/15/40		250,000		252,787
Acre Mortgage Trust, Series 2021-FL4, Class D (1MO LIBOR + 260) (a)(b)		2.708	%		12/15/37		1,000,000		987,500
Acre Mortgage Trust, Series 2021-FL4, Class E (1MO LIBOR + 310) (a)(b)		3.208	%		12/15/37		675,000		664,875
Bancorp Commercial Mortgage Trust (The), Series 2017-CRE2, Class C (1MO LIBOR + 235) (a)(b)		2.462	%		08/15/32		250,000		246,679
Bancorp Commercial Mortgage Trust (The), Series 2018-CR3, Class D (1MO LIBOR + 270) (a)(b)		2.806	%		03/16/35		324,000		321,909
Bancorp Commercial Mortgage Trust (The), Series 2019-CRE6, Class A (1MO LIBOR + 105) (a)(b)		1.162	%		09/17/36		308,281		308,186
Bancorp Commercial Mortgage Trust (The), Series 2019-CRE5, Class A (1MO LIBOR + 100) (a)(b)		1.106	%		03/17/36		301,947		301,854
BSPRT Issuer Ltd., Series 2018-FL3, Class A (1MO LIBOR + 105) (a)(b)		1.156	%		03/15/28		304,228		304,289
BSPRT Issuer Ltd., Series 2018-FL4, Class A (1MO LIBOR + 105) (a)(b)		1.156	%		09/17/35		793,619		793,619

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 64.9% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
CRE/CLO - 5.2% (continued)
BXMT Ltd, Series 2020-FL2, Class C (1MO LIBOR + 165) (a)(b)		1.757	%		02/18/38	$	1,000,000	$	990,079
BXMT Ltd., Series 2017-FL1, Class B (1MO LIBOR + 150) (a)(b)		1.608	%		06/15/35		275,000		275,000
BXMT Ltd., Series 2017-FL1, Class D (1MO LIBOR + 275) (a)(b)		2.807	%		06/15/35		1,000,000		1,000,002
BXMT Ltd., Series 2020-FL2, Class A (1MO LIBOR + 90) (a)(b)		1.007	%		02/16/37		425,000		423,924
BXMT Ltd., Series 2020-FL2, Class D (1MO LIBOR + 195) (a)(b)		2.058	%		02/16/37		625,000		617,172
BXMT Ltd., Series 2020-FL2, Class B (1MO LIBOR + 140) (a)(b)		1.508	%		02/18/38		1,000,000		997,494
Exantas Capital Corp., Series 2019-RS07, Class A (1MO LIBOR + 100) (a)(b)		1.108	%		04/15/22		541,068		540,289
Exantas Capital Corp., Series 2020-RS09, Class D (1MO LIBOR + 550) (a)(b)(e)		5.608	%		04/17/37		374,220		376,279
FHLMC, Series 2020-FL3, Class B (1MO LIBOR + 375) (a)(b)		3.856	%		07/15/35		1,150,000		1,171,404
FHLMC, Series 2020-FL3, Class A-S (1MO LIBOR + 285) (a)(b)		2.956	%		07/16/35		800,000		812,902
KKR Real Estate Finance Trust, Inc., Series 2018-FL1, Class A (1MO LIBOR + 110) (a)(b)		1.208	%		06/15/36		994,470		994,470
MF1 Ltd., Series 2020-FL3, Class D (1MO LIBOR + 300) (a)(b)		3.106	%		07/16/35		500,000		501,861
Multi Family Housing Mortgage Loan, Series 2019-FL2, Class A (1MO LIBOR + 113) (a)(b)		1.239	%		11/27/34		719,069		718,557
Multi Family Housing Mortgage Loan, Series 2019-FL2, Class C (1MO LIBOR + 200) (a)(b)		2.109	%		12/25/34		300,000		300,093
Multi Family Housing Mortgage Loan, Series 2020-FL4, Class A (1MO LIBOR +170) (a)(b)		1.806	%		11/15/35		600,000		603,996
PFP III, Series 2021-7, Class D (a)(b)		2.500	%		04/14/38		750,000		740,625
PFP Ltd., Series 2019-5, Class B (1MO LIBOR + 165) (a)(b)		1.756	%		04/16/36		650,000		649,199
ReadyCap Commercial Mortgage Trust, Series 2020-FL4, Class A (1MO LIBOR + 215)  (a)(b)		2.268	%		02/25/35		999,973		1,007,735

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 64.9% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
CRE/CLO - 5.2% (continued)
TPG Real Estate Finance, Series 2019-FL3, Class A (1MO LIBOR + 115) (a)(b)		1.258	%		10/15/34	$	600,000	$	599,625
VMC Finance LLC, Series 2018-FL2, Class A (1MO LIBOR + 92) (a)(b)		1.028	%		10/15/35		82,159		82,251
									18,373,672
Credit Cards - 2.0%
Brex, Inc., Series 2021-1, Class A (b)		2.130	%		07/17/24		1,000,000		999,926
Continental Credit Card LLC, Series 2017-1, Class B (b)		6.410	%		01/15/25		170,941		176,971
Continental Credit Card LLC, Series 2019-1, Class A (b)		3.830	%		08/15/26		1,200,000		1,229,411
Continental Credit Card LLC, Series 2019-1, Class B (b)		4.950	%		08/15/26		300,000		311,919
Continental Credit Card LLC, Series 2020-A, Class A (b)		2.240	%		12/15/28		1,350,000		1,360,284
Continental Credit Card LLC, Series 2020-A, Class B (b)		3.660	%		12/15/28		1,200,000		1,212,823
Genesis Private Label Amortization Trust, Series 2020-1, Class C (b)		4.190	%		07/20/30		200,000		202,631
Genesis Sales Finance Master Trust, Series 2020-AA, Class B (b)		2.240	%		09/22/25		535,000		537,699
Genesis Sales Finance Master Trust, Series 2020-AA, Class C (b)		2.990	%		09/22/25		300,000		301,283
Mercury Financial Credit Card, Series 2021-1A, Class B (b)		2.330	%		03/20/26		800,000		801,267
									7,134,214
Equipment - 0.7%
Business Jet Securities LLC, Series 2019-1, Class B (b)		5.193	%		07/15/34		541,287		543,019
Business Jet Securities LLC, Series 2020-1, Class B (b)		3.967	%		11/15/35		314,064		322,587
Business Jet Securities LLC, Series 2021-1A, Class B (b)		2.918	%		04/15/36		400,000		399,283
CLI Funding VI LLC, Series 2019-1, Class A (b)		3.710	%		05/18/44		91,469		91,778
CLI Funding VI LLC, Series 2020-1, Class B (b)		3.620	%		09/18/45		611,000		617,439

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 64.9% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
Equipment - 0.7% (continued)
Octane Receivables Trust, Series 2019-1, Class A (b)		3.160	%		09/20/23	$	73,682	$	74,502
Octane Receivables Trust, Series 2020-1, Class A (b)		1.710	%		02/20/25		295,225		297,859
									2,346,467
HECM - 0.4%
Finance of America HECM, Series 2020-HB2, Class A (b)		1.710	%		07/25/30		292,906		294,745
Finance of America HECM, Series 2021-HB1, Class M3 (b)		3.640	%		02/25/31		700,000		695,209
RMF Buyout Issuance Trust, Series 2020-2, Class M2 (b)		3.091	%		06/25/30		250,000		251,010
									1,240,964
Hospitality - 2.3%
BHMS Mortgage Trust, Series 2018-ATLS, Class A (1MO LIBOR + 125) (a)(b)		1.356	%		07/16/35		280,000		279,826
BX Commercial Mortgage Trust, Series 2020-VIV4, Class A (b)		2.843	%		03/09/44		650,000		659,453
BX Commercial Mortgage Trust, Series 2020-VIV3, Class B (b)		3.540	%		03/09/44		1,300,000		1,363,844
BX Trust, Series 2018-GW, Class E (1MO LIBOR + 197) (a)(b)		2.076	%		05/15/37		150,000		149,621
BX Trust, Series 2019-OC11, Class D (a)(b)		4.075	%		12/09/41		225,000		233,700
BX Trust, Series 2019-OC11, Class A (b)		3.202	%		12/11/41		1,177,000		1,229,849
BX Trust, Series 2019-OC11, Class C (b)		3.856	%		12/11/41		270,000		284,693
Champlain Housing Mortgage Trust, Series 2017-COSMO, Class B (1MO LIBOR + 140) (a)(b)		1.506	%		11/17/36		100,000		100,061
Cosmopolitan Hotel Trust, Series 2017-COSMO, Class D (1MO LIBOR + 225) (a)(b)		2.356	%		11/15/36		100,000		100,061
Cosmopolitan Hotel Trust, Series 2017-COSMO, Class A (1MO LIBOR + 93) (a)(b)		1.036	%		11/17/36		800,000		800,240
Fontainebleau Miami Beach, Series 2019-FBLU, Class C (b)		3.750	%		12/12/36		750,000		773,516

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 64.9% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
Hospitality - 2.3% (continued)
Goldman Sachs Mortgage Securities Corp. Trust, Series 2018-HULA, Class A (1MO LIBOR + 92) (a)(b)		1.026	%		07/16/35	$	763,035	$	762,791
Goldman Sachs Mortgage Securities Corp. Trust, Series 2018-HULA, Class B (1MO LIBOR + 125) (a)(b)		1.356	%		07/16/35		953,793		952,283
Motel 6 Trust, Series 2017-MTL6, Class D (1MO LIBOR + 215) (a)(b)		2.256	%		08/15/34		296,751		296,933
									7,986,871
Industrial - 0.8%
BX Commercial Mortgage Trust, Series 2020-FOX, Class D (1MO LIBOR + 210) (a)(b)		2.206	%		11/15/32		1,200,000		1,203,009
Cold Storage Trust, Series 2020-ICE5, Class E (1MO LIBOR + 276.56) (a)(b)		2.872	%		11/16/37		491,495		492,284
Credit Suisse First Boston, Series 2020-UNFI, Class A (1MO LIBOR + 276.56) (a)(b)		3.781	%		12/06/22		1,000,000		1,001,543
									2,696,836
Laboratory - 0.6%
Commercial Mortgage Trust, Series 2020-CX, Class A (b)		2.173	%		11/10/46		2,000,000		1,948,952
Manufactured Housing - 0.0% (d)
Cascade Funding Mortgage Trust, Series 2019-MH1, Class M (b)		5.985	%		11/25/44		100,000		103,179
Mixed-Use - 0.1%
20 Times Square Trust, Series 2018-20TS, Class B (a)(b)		3.100	%		05/17/35		300,000		299,698
Multifamily - 1.6%
FHLMC, Series 2021-MN1, Class M-1 (a)(b)		2.017	%		01/25/51		1,136,616		1,139,434
Freedom Mortgage Trust, Series 2017-KF39, Class B (1MO LIBOR + 250) (a)(b)		2.618	%		11/25/24		469,004		468,521
Freedom Mortgage Trust, Series 2018-KF53, Class B (1MO LIBOR + 205) (a)(b)		2.168	%		10/27/25		536,033		531,973

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 64.9% (continued)	Coupon		Maturity		Shares / Par Value		Fair Value
Multifamily - 1.6% (continued)
FREMF Mortgage Trust, Series 2018-KF44, Class B (1MO LIBOR +215) (a)(b)	2.270	%		02/25/25	$	463,704	$	462,771
FREMF Mortgage Trust, Series 2018-KF43, Class B (1MO LIBOR +215) (a)(b)	2.269	%		01/25/28		358,138		357,053
FREMF Mortgage Trust, Series 2018-KF50, Class B (1MO LIBOR + 190) (a)(b)	2.018	%		07/25/28		690,853		680,371
FREMF Mortgage Trust, Series 2019-KF67, Class B (1MO LIBOR + 225) (a)(b)	2.369	%		08/25/29		579,500		578,077
Multi Family Connecticut Avenue, Series 2019-01, Class M-7 (1MO LIBOR + 170) (a)(b)	1.818	%		10/15/49		567,396		565,759
Multi Family Connecticut Avenue, Series 2020-01, Class M-7 (1MO LIBOR + 195) (a)(b)	2.059	%		03/25/50		819,279		821,407
								5,605,366
Non-Agency MBS 2.0 - 0.5%
J.P. Morgan Wealth Management, Series 2021-CL1, Class M1 (SOFR + 130) (a)	1.317	%		02/26/71		973,589		973,588
J.P. Morgan Wealth Management, Series 2021-CL1, Class M3 (SOFR + 180) (a)	1.817	%		02/26/71		730,192		730,191
								1,703,779
Non-Performing Loan - 0.2%
Volt LXXXIX LLC, Series 2020-NPL5, Class A-1A (a)(b)	2.981	%		03/25/50		668,199		670,733
Non-QM - 0.0% (d)
Arroyo Mortgage Trust, Series 2018-1, Class A1 (b)	3.763	%		04/25/48		62,456		62,725
Residential Transition Loan - 0.6%
AlphaFlow Transitional Mortgage Co., Series 2021-WL1, Class A1 (b)	3.280	%		03/25/25		800,000		799,483
AlphaFlow Transitional Mortgage Co., Series 2021-WL1, Class A2 (b)	5.610	%		03/25/25		500,000		499,608

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 64.9% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
Residential Transition Loan - 0.6% (continued)
Antler Mortgage Trust, Series 2019-RTL1, Class A1 (b)		4.458	%		06/27/22	$	1,202	$	1,201
LHOME Mortgage Trust, Series 2019-RLT1, Class A2 (b)		4.948	%		10/25/23		60,680		60,942
LHOME Mortgage Trust, Series 2021-RTL1, Class M (b)		4.458	%		09/25/26		750,000		750,105
									2,111,339
Retail - 1.1%
Aventura Mall Trust, Series 2018-AVM, Class C (b)		4.249	%		07/09/40		650,000		667,397
BB-UBS Trust, Series 2012-SHOW, Class A (b)		3.430	%		11/05/36		335,000		350,666
BX Trust, Series 2018-EXCL, Class A (1MO LIBOR + 1088) (a)(b)		1.194	%		09/15/37		589,802		572,140
Citigroup Commercial Mortgage, Series 2017-MDRB, Class D (1MO LIBOR + 325) (a)(b)		3.356	%		07/15/30		150,000		148,103
Citigroup Commercial Mortgage, Series 2017-MDRB, Class A (1MO LIBOR + 110) (a)(b)		1.206	%		07/15/30		197,347		196,021
Credit Suisse First Boston, Series 2018-SITE, Class A (b)		4.284	%		04/17/36		127,000		126,704
Credit Suisse First Boston, Series 2018-SITE, Class D (a)(b)		4.782	%		04/17/36		435,000		421,193
Wells Fargo Mortgage Trust, Series 2021-SAVE, Class A (1MO LIBOR + 115) (a)(b)		1.300	%		02/15/40		500,000		501,235
Wells Fargo Mortgage Trust, Series 2021-SAVE, Class C (1MO LIBOR + 180) (a)(b)		1.950	%		02/15/40		425,000		426,306
Wells Fargo Mortgage Trust, Series 2021-SAVE, Class D (1MO LIBOR + 250) (a)(b)		2.650	%		02/15/40		500,000		503,085
									3,912,850
Single Family Rental - 3.0%
American Homes 4 Rent, Series 2014-SFR2, Class E (b)		6.231	%		10/17/36		300,000		327,073
American Homes 4 Rent, Series 2014-SFR2, Class D (b)		3.678	%		12/17/36		332,357		356,784
American Homes 4 Rent, Series 2014-SFR3, Class E (b)		6.418	%		12/18/36		300,000		329,732

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 64.9% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
Single Family Rental - 3.0% (continued)
American Homes 4 Rent, Series 2015-SFR1, Class A (b)		3.467	%		04/17/52	$	114,988	$	123,053
Colony American Finance Ltd., Series 2016-2, Class B (b)		3.141	%		11/15/48		150,000		150,723
Colony American Finance Ltd., Series 2020-1, Class A2 (b)		2.296	%		03/15/50		250,000		248,513
Colony American Finance Ltd., Series 2020-4, Class B (b)		1.707	%		12/15/52		800,000		793,082
Colony American Finance Ltd., Series 2020-4, Class D (b)		2.712	%		12/15/52		800,000		755,877
Colony American Finance Ltd., Series 2020-4, Class E (b)		3.379	%		12/15/52		750,000		749,717
Home Partners of America Trust, Series 2019-1, Class B (b)		3.157	%		09/17/27		565,680		568,282
Home Partners of America Trust, Series 2019-2, Class B (b)		2.922	%		10/19/39		634,838		628,498
Invitation Homes Trust, Series 2017-SFR2, Class A (1MO LIBOR + 85) (a)(b)		0.958	%		12/19/36		806,321		807,203
Invitation Homes Trust, Series 2018-SFR1, Class B (1MO LIBOR + 95) (a)(b)		1.058	%		03/17/37		750,000		748,914
Invitation Homes Trust, Series 2018-SFR1, Class A (1MO LIBOR+ 70) (a)(b)		0.808	%		03/19/37		303,003		303,474
Invitation Homes Trust, Series 2018-SFR3, Class A (1MO LIBOR + 100) (a)(b)		1.108	%		07/17/37		1,069,033		1,071,031
Progress Residential Trust, Series 2021-SFR1, Class B (b)		1.303	%		04/17/38		850,000		828,297
Progress Residential Trust, Series 2021-SFR1, Class E (b)		2.106	%		04/17/38		700,000		686,060
Star, Series 2021-SFR1, Class E (1MO LIBOR + 170) (a)(b)		1.815	%		04/17/38		1,200,000		1,197,564
									10,673,877
Small Business - 1.2%
Credibly Asset Securitization LLC, Series 2018-1, Class A (b)		4.800	%		11/15/23		750,000		751,378

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 64.9% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
Small Business - 1.2% (continued)
Newtek Small Business Loan Trust, Series 2018-1, Class A (1MO LIBOR + 170) (a)(b)		2.700	%		02/25/44	$	728,176	$	710,411
Newtek Small Business Loan Trust, Series 2018-1, Class B (1MO LIBOR + 300) (a)(b)		4.000	%		02/25/44		191,625		175,771
Newtek Small Business Loan Trust, Series 2019-01, Class A (1MO LIBOR + 165) (a)(b)		2.350	%		12/25/44		712,423		701,677
Newtek Small Business Loan Trust, Series 2019-01, Class B (1MO LIBOR + 250) (a)(b)		3.500	%		12/25/44		302,780		293,231
SFS Asset Securitization LLC, Series 2019-1, Class A (b)		4.238	%		06/10/25		800,000		800,436
SFS Asset Securitization LLC, Series 2019-1, Class B (b)		5.023	%		06/10/25		150,000		149,848
Small Business Lending Trust, Series 2019-A, Class A (b)		2.850	%		07/15/26		139,143		138,941
Small Business Lending Trust, Series 2020-A, Class B (b)		3.200	%		12/15/26		646,000		649,583
									4,371,276
Student Loan - 1.6%
College Ave Student Loans, Series 2018-A, Class B (b)		4.750	%		12/26/47		115,561		122,592
College Ave Student Loans, Series 2018-A, Class C (b)		5.500	%		12/26/47		100,000		104,851
College Ave Student Loans, Series 2019-A, Class A1 (1MO LIBOR + 140) (a)(b)		1.518	%		12/28/48		148,847		151,199
College Ave Student Loans, Series 2019-A, Class C (b)		4.460	%		12/28/48		250,000		257,231
College Ave Student Loans, Series 2021-A, Class B (b)		2.320	%		07/25/51		675,000		667,248
College Ave Student Loans, Series 2021-A, Class D (b)		4.120	%		07/25/51		500,000		497,594
Earnest Student Loan Program LLC, Series 2016-C, Class A-2 (b)		2.680	%		07/25/35		162,596		162,763
Earnest Student Loan Program LLC, Series 2017-A, Class B (b)		3.590	%		01/25/41		104,510		105,268

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 64.9% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
Student Loan - 1.6% (continued)
Laurel Road Prime Student Loan, Series 2018-B, Class A2 (b)		3.540	%		05/26/43	$	58,476	$	59,759
Laurel Road Prime Student Loan, Series 2019-A, Class A2FX (b)		2.730	%		10/25/48		180,498		184,559
SMB Private Education Loan Trust, Series 2018-C, Class B (b)		4.000	%		11/17/42		200,000		205,972
Social Professional Loan Program, Series 2016-C, Class A-2B (b)		2.360	%		12/27/32		80,076		80,978
Social Professional Loan Program, Series 2015-D, Class B (b)		3.590	%		10/26/37		88,642		89,681
Social Professional Loan Program, Series 2017-B, Class CFX (b)		4.440	%		05/25/40		150,000		157,189
Social Professional Loan Program, Series 2017-E, Class A-2B (b)		2.720	%		11/26/40		137,646		139,837
Social Professional Loan Program, Series 2017-E, Class C (b)		4.160	%		11/26/40		700,000		729,726
Social Professional Loan Program, Series 2016-E, Class C (b)		4.430	%		10/25/41		200,000		208,806
Social Professional Loan Program, Series 2018-A, Class A-1 (1MO LIBOR + 35) (a)(b)		0.459	%		02/25/42		64,514		64,165
Social Professional Loan Program, Series 2020-A, Class BFX (b)		3.120	%		05/15/46		425,000		434,953
Social Professional Loan Program, Series 2018-D, Class BFX (b)		4.140	%		02/25/48		500,000		528,850
Social Professional Loan Program, Series 2019-C, Class BFX (b)		3.050	%		11/16/48		730,000		735,908
									5,689,129
Unsecured Consumer - 4.9%
Avant Loans Funding Trust, Series 2020-REV1, Class A (b)		2.170	%		05/15/29		200,000		201,398
Freedom Financial, Series 2019-1, Class B (b)		3.870	%		06/18/26		403,880		407,999
Freedom Financial, Series 2020-FP1, Class A (b)		2.520	%		03/18/27		278,024		279,909
Freedom Financial, Series 2020-FP1, Class B (b)		3.060	%		03/18/27		225,000		228,953
Freedom Financial, Series 2020-2CP, Class A (b)		4.520	%		06/18/27		177,606		179,114

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 64.9% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
Unsecured Consumer - 4.9% (continued)
Freedom Financial, Series 2020-3FP, Class A (b)		2.400	%		09/20/27	$	86,983	$	87,319
Freedom Financial, Series 2020-3FP, Class B (b)		4.180	%		09/20/27		1,000,000		1,025,031
Freedom Financial, Series 2021-1CP, Class C (b)		2.830	%		03/20/28		425,000		424,406
Freedom Mortgage Trust, Series 2020-2CP, Class C (b)		6.000	%		06/18/27		725,000		768,920
LendingPoint Asset Securitization Trust, Series 2019-1, Class B (b)		3.613	%		08/15/25		49,662		49,692
LendingPoint Asset Securitization Trust, Series 2020-1, Class B (b)		3.107	%		02/10/26		350,000		351,431
Lendmark Funding Trust, Series 2020-2A, Class C (b)		4.690	%		04/21/31		550,000		564,397
LL ABS Trust, Series 2020-1, Class A (b)		2.330	%		07/15/22		452,555		455,838
LL ABS Trust, Series 2020-1, Class B (b)		3.790	%		03/15/23		1,200,000		1,238,531
LL ABS Trust, Series 2019-1, Class A (b)		2.870	%		03/15/27		144,113		144,510
LL ABS Trust, Series 2019-1, Class B (b)		3.520	%		03/15/27		150,000		152,463
Mariner Finance Issuance Trust, Series 2021-AA, Class D (b)		4.340	%		03/20/36		1,000,000		993,463
Marlette Funding Trust, Series 2019-4, Class B (b)		2.950	%		12/17/29		125,000		127,664
Oportun Funding VII LLC, Series 2018-C, Class A (b)		4.100	%		10/08/24		300,000		303,892
Oportun Funding XII LLC, Series 2018-D, Class B (b)		4.830	%		12/09/24		100,000		101,100
Oportun Funding XIII LLC, Series 2019-13, Class B (b)		3.870	%		08/08/25		500,000		510,982
Oportun Funding XIV LLC, Series 2021-A, Class C (b)		3.440	%		03/08/28		900,000		899,672
Prosper Marketplace Issuance Trust, Series 2019-3, Class B (b)		3.590	%		07/15/25		150,000		150,853
Prosper Marketplace Issuance Trust, Series 2019-4, Class B (b)		3.200	%		02/17/26		200,000		201,598
Regional Management Issuance Trust, Series 2019-1, Class C (b)		4.110	%		11/15/28		200,000		203,998

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Securitized - 64.9% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
Unsecured Consumer - 4.9% (continued)
Regional Management Issuance Trust, Series 2020-1, Class A (b)		2.340	%		10/15/30	$	250,000	$	252,468
Regional Management Issuance Trust, Series 2021-1, Class C (b)		3.040	%		03/17/31		625,000		616,962
Upgrade Master Pass-Thru Trust, Series 2019-ST1, Class A (b)		4.000	%		07/15/25		226,622		229,063
Upgrade Master Pass-Thru Trust, Series 2019-ST3, Class A (b)		3.750	%		11/15/25		85,387		86,461
Upgrade Receivables Trust, Series 2019-2, Class B (b)		3.510	%		10/15/25		800,000		803,741
Upstart Pass Through Trust, Series 20-ST6, Class A (b)		3.000	%		01/20/27		609,447		617,930
Upstart Pass-Through Trust, Series 2020-ST1, Class A (b)		3.750	%		02/20/28		175,679		180,740
Upstart Pass-Through Trust, Series 2020-ST2, Class A (b)		3.500	%		03/20/28		270,035		275,178
Upstart Pass-Through Trust, Series 2020-ST3, Class A (b)		3.350	%		04/20/28		140,761		143,628
Upstart Securitization Trust, Series 2019-1, Class B (b)		4.190	%		04/20/26		4,102		4,108
Upstart Securitization Trust, Series 2021-ST1, Class A (b)		2.750	%		02/20/27		961,739		970,395
Upstart Securitization Trust, Series 2021-ST2, Class A (b)		2.500	%		04/20/27		1,250,000		1,262,008
Upstart Securitization Trust, Series 2019-2, Class A (b)		2.897	%		09/20/29		56,531		56,800
Upstart Securitization Trust, Series 2019-2, Class B (b)		3.734	%		09/20/29		1,000,000		1,020,132
Upstart Securitization Trust, Series 2019-3, Class B (b)		3.829	%		01/21/30		600,000		615,405
									17,188,152
Total Securitized (Cost $227,354,066)								$	228,311,918

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Treasury - 16.3%	Coupon			Maturity		Shares / Par Value		Fair Value
U.S. Treasury Notes		0.125	%		04/15/21	$	217,284	$	217,725
U.S. Treasury Notes (c)		2.000	%		11/30/22		1,500,000		1,546,230
U.S. Treasury Bonds (c)		1.500	%		03/31/23		1,225,000		1,257,539
U.S. Treasury Notes (c)		1.625	%		04/30/23		100,000		102,984
U.S. Treasury Notes		2.500	%		05/15/24		750,000		799,336
U.S. Treasury Notes (c)		2.250	%		11/15/24		250,000		265,303
U.S. Treasury STRIPS (c)		0.000	%		02/15/25		300,000		292,373
U.S. Treasury Notes (c)		2.000	%		08/15/25		1,000,000		1,053,711
U.S. Treasury Notes (c)		2.250	%		11/15/25		2,000,000		2,129,766
U.S. Treasury Notes (c)		1.625	%		02/15/26		3,000,000		3,102,422
U.S. Treasury Notes		0.625	%		03/31/27		1,000,000		966,836
U.S. Treasury STRIPS		0.000	%		05/15/28		1,000,000		896,085
U.S. Treasury Notes (c)		2.875	%		08/15/28		2,000,000		2,199,844
U.S. Treasury Notes (c)		0.625	%		08/15/30		3,313,900		3,003,222
U.S. Treasury Notes (c)		0.875	%		11/15/30		7,500,000		6,936,328
U.S. Treasury STRIPS		0.000	%		11/15/31		500,000		404,761
U.S. Treasury STRIPS		0.000	%		02/15/33		800,000		625,451
U.S. Treasury STRIPS		0.000	%		08/15/34		750,000		560,591
U.S. Treasury STRIPS		0.000	%		05/15/35		1,000,000		730,652
U.S. Treasury STRIPS		0.000	%		02/15/37		1,725,000		1,195,297
U.S. Treasury Notes (c)		4.750	%		02/15/37		150,000		205,148
U.S. Treasury Bonds		3.500	%		02/15/39		235,000		281,789
U.S. Treasury Bonds		4.250	%		05/15/39		500,000		656,895
U.S. Treasury Bonds		1.125	%		08/15/40		7,200,000		5,854,500
U.S. Treasury Bonds		3.875	%		08/15/40		550,000		693,473
U.S. Treasury Bonds		1.375	%		11/15/40		1,000,000		850,625
U.S. Treasury Notes		4.250	%		11/15/40		1,050,000		1,389,199
U.S. Treasury Bonds		4.750	%		02/15/41		700,000		985,523
U.S. Treasury STRIPS		0.000	%		08/15/41		500,000		302,667
U.S. Treasury Bonds		2.750	%		11/15/42		600,000		642,984
U.S. Treasury Bonds		3.750	%		11/15/43		1,500,000		1,876,172
U.S. Treasury Bonds		2.250	%		08/15/46		1,780,000		1,727,365
U.S. Treasury Bonds		3.000	%		02/15/48		1,975,000		2,213,929
U.S. Treasury Bonds		2.375	%		11/15/49		1,750,000		1,738,584
U.S. Treasury Bonds		2.000	%		02/15/50		2,350,000		2,149,057

Diamond Hill Core Bond Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Treasury - 16.3% (continued)	Coupon			Maturity		Shares / Par Value		Fair Value
U.S. Treasury Bonds		1.250	%		05/15/50	$	10,050,000	$	7,584,217
Total Treasury (Cost $61,958,997)								$	57,438,583

Registered Investment Companies - 6.6%	Shares		Fair Value
State Street Institutional Liquid Reserves Fund, Premier Class, 0.07% (f)		5,519,953	$	5,521,609
State Street Navigator Securities Lending Portfolio I, 0.10% (f)(g)		17,709,009		17,709,009
Total Registered Investment Companies (Cost $23,226,935)			$	23,230,618
Total Investment Securities - 105.1% (Cost $372,945,241)			$	370,002,666
Liabilities in Excess of Other Assets - (5.1)%				(18,100,169	)
Net Assets - 100.0%			$	351,902,497

(a)	Variable rate security.  The rate shown is the effective interest rate as of March 31, 2021.  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, prepayment of underlying positions and/or other variables.  These securities do not indicate a reference rate and spread in their description above.
(b)	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 March 31, 2021 was $131,540,345, representing 37.4% of net assets.
(c)	All or a portion of the security is on loan.  The total fair value of the securities on loan as of March 31, 2021 was $26,956,640.
(d)	Percentage rounds to less than 0.1%.
(e)	Illiquid security as determined under procedures approved by the Board of Trustees. The total fair value of these securities as of March 31, 2021 was $1,418,083, representing 0.4% of net assets.
(f)	The rate shown is the 7-day effective yield as of March 31, 2021.
(g)	The security was purchased with cash collateral from securities on loan.

AG -	Aktiengesellschaft
BV -	Besloten Vennootschap
IO -	Interest Only
LIBOR -	London Interbank Offered Rate
NA -	National Association
NV -	Naamloze Vennootschap
PO -	Principal Only
plc -	Public Limited Company
SA -	Societe Anonyme
SOFR -	Secured Overnight Financing Rate
UA -	Uitgesloten Aansprakelijkheid

See accompanying notes to Schedules of Investments.

Diamond Hill Corporate Credit Fund

Schedule of Investments

March 31, 2021 (Unaudited)

Collateralized Debt Obligations - 0.1%	Maturity	Shares / Par Value		Fair Value
Financials - 0.1%
Alesco Preferred Funding Ltd., Class PNNE *	03/23/35	$	336,608	$	147,333
Alesco Preferred Funding Ltd. VI, Class PNN *	03/23/35		621,631		285,444
Fort Sheridan ABS CDO Ltd., Series 05-1A, Class PPN2 *	11/05/41		611,948		337,319
Taberna Preferred Funding Ltd., Class PPN2 *	07/05/35		1,175,564		539,130
Total Collateralized Debt Obligations (Cost $2,534,301)				$	1,309,226

Corporate Bonds - 93.5%	Coupon			Maturity	Shares / Par Value		Fair Value
Automotive - 0.3%
Tesla, Inc. (a)		5.300	%	08/15/25	$	2,279,000	$	2,364,690
Winnebago Industries, Inc. (a)		6.250	%	07/15/28		3,296,000		3,530,840
								5,895,530
Banking - 2.6%
Bankunited, Inc.		5.125	%	06/11/30		19,605,000		22,103,528
Popular, Inc. (b)		6.125	%	09/14/23		19,981,000		21,579,480
Western Alliance Bancorp		5.250	%	06/01/30		11,135,000		11,650,700
								55,333,708
Basic Industry - 5.9%
Ashland Global Holdings, Inc.		6.875	%	05/15/43		12,999,000		16,248,750
Brundage-Bond Concrete Pumping (a)		6.000	%	02/01/26		7,250,000		7,558,125
Century Communities, Inc.		5.875	%	07/15/25		1,069,000		1,106,415
GCP Applied Technologies, Inc. (a)		5.500	%	04/15/26		36,773,000		37,828,385
Mueller Industries, Inc. (b)		6.000	%	03/01/27		12,520,000		12,780,416
Schweitzer-Mauduit International, Inc. (a)		6.875	%	10/01/26		26,569,000		28,163,140
W.R. Grace & Co. (a)		4.875	%	06/15/27		16,476,000		17,055,955
WESCO Distribution, Inc. (a)		7.125	%	06/15/25		5,572,000		6,092,982
								126,834,168
Capital Goods - 2.1%
ATS Automation Tooling Systems (a)(b)		4.125	%	12/15/28		16,265,000		16,122,681

Diamond Hill Corporate Credit Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Corporate Bonds - 93.5% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
Capital Goods - 2.1% (continued)
TransDigm UK Holdings plc		6.875	%	05/15/26	$	12,738,000	$	13,406,745
TransDigm, Inc. (a)		6.250	%	03/15/26		15,084,000		15,992,057
								45,521,483
Consumer Goods - 5.5%
C&S Group Enterprises LLC (a)		5.000	%	12/15/28		22,270,000		21,657,575
Cooke Omega Investments, Inc. / Alpha VesselCo Holdings, Inc. (a)		8.500	%	12/15/22		24,396,000		25,066,889
Hasbro, Inc.		6.350	%	03/15/40		1,262,000		1,612,717
Pilgrim's Pride Corp. (a)		5.750	%	03/15/25		21,318,000		21,757,151
Pilgrim's Pride Corp. (a)(b)		5.875	%	09/30/27		8,239,000		8,829,736
Post Holdings, Inc. (a)		4.625	%	04/15/30		12,563,000		12,594,408
Post Holdings, Inc. (a)		4.500	%	09/15/31		8,000,000		7,912,000
Turning Point Brands, Inc. (a)		5.625	%	02/15/26		12,175,000		12,631,563
US Foods, Inc. (a)		6.250	%	04/15/25		4,568,000		4,896,896
								116,958,935
Energy - 10.5%
Apergy Corp.		6.375	%	05/01/26		26,712,000		27,980,820
Double Eagle III (a)		7.750	%	12/15/25		7,429,000		7,932,092
Energean Israel Finance Ltd.		4.500	%	03/30/24		3,900,000		3,919,812
Energean Israel Finance Ltd.		5.375	%	03/30/28		1,500,000		1,516,875
Energen Corp. (c)		7.125	%	02/15/28		22,389,000		25,916,472
Floatel International Ltd. (c)		9.000	%	04/11/24		6,976,000		1,744,000
LBC Tank Terminals Holdings Netherlands BV (a)		6.875	%	05/15/23		7,401,000		7,401,000
Leviathan Energy		5.750	%	06/30/23		995,000		1,039,775
Leviathan Energy		6.500	%	06/30/27		10,906,000		11,914,805
Magnolia Oil & Gas Corp. (a)(b)		6.000	%	08/01/26		42,299,000		43,726,591
New Fortress Energy, Inc. (a)		6.750	%	09/15/25		21,225,000		21,806,565
New Fortress Energy, Inc. (a)		6.500	%	09/30/26		11,250,000		11,334,375
Rattler Midstream LP (a)		5.625	%	07/15/25		16,282,000		17,000,362
Solaris Midstream Holdings (a)		7.625	%	04/01/26		6,750,000		6,901,875
Teine Energy Ltd. (a)		6.875	%	04/15/29		9,100,000		9,210,110
Welltec A/S (a)		9.500	%	12/01/22		26,559,000		26,160,615
								225,506,144

Diamond Hill Corporate Credit Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Corporate Bonds - 93.5% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
Financial Services - 13.0%
Alliance Data Systems Corp. (a)		4.750	%	12/15/24	$	5,456,000	$	5,599,220
Alliance Data Systems Corp. (a)(b)		7.000	%	01/15/26		24,923,000		26,672,594
Burford Capital Global Finance LLC (a)		6.250	%	04/15/28		9,420,000		9,655,500
Credit Acceptance Corp. (a)		5.125	%	12/31/24		22,961,000		23,420,220
Credit Acceptance Corp. (b)		6.625	%	03/15/26		23,813,000		25,063,182
Drawbridge Special Opportunities Fund LP (a)(b)		3.875	%	02/15/26		8,120,000		8,329,140
Freedom Mortgage Corp (a)(b)		7.625	%	05/01/26		10,979,000		11,500,503
Freedom Mortgage Corp. (a)		8.125	%	11/15/24		35,281,000		36,559,936
Freedom Mortgage Corp. (a)		8.250	%	04/15/25		16,038,000		16,699,568
FS KKR Capital Corp.		4.125	%	02/01/25		2,439,000		2,507,804
FS KKR Capital Corp.		3.400	%	01/15/26		4,131,000		4,097,420
FS KKR Capital Corp. II (a)		4.250	%	02/14/25		15,721,000		16,016,930
LD Holdings Group LLC (a)(b)		6.500	%	11/01/25		23,462,000		24,576,445
LD Holdings Group LLC (a)		6.125	%	04/01/28		10,365,000		10,493,526
Nationstar Mortgage LLC (a)		6.000	%	01/15/27		16,228,000		16,836,550
Quicken Loans LLC (a)		5.250	%	01/15/28		13,600,000		14,280,000
Quicken Loans LLC (a)		3.625	%	03/01/29		8,492,000		8,173,550
United Shore Financial Services LLC (a)(b)		5.500	%	11/15/25		9,328,000		9,724,440
United Wholesale Mortgage LLC (a)		5.500	%	04/15/29		7,500,000		7,500,000
								277,706,528
Health Care - 8.4%
Akumin, Inc. (a)		7.000	%	11/01/25		24,501,000		26,062,939
Davita, Inc. (a)		3.750	%	02/15/31		23,364,000		22,282,948
Emergent Biosolutions, Inc. (a)(b)		3.875	%	08/15/28		22,688,000		22,177,520
Endo Financial LLC (a)(b)		5.875	%	10/15/24		5,101,000		5,126,505
Horizon Pharma USA, Inc. (a)		5.500	%	08/01/27		17,307,000		18,475,222
Jaguar Holdings Co. (a)		5.000	%	06/15/28		8,183,000		8,522,595
P&L Development LLC (a)		7.750	%	11/15/25		9,721,000		10,401,470
Par Pharmaceutical, Inc. (a)		7.500	%	04/01/27		15,098,000		16,013,694
Providence Service Corp. (The) (a)		5.875	%	11/15/25		16,049,000		16,891,573
Syneos Health, Inc. (a)		3.625	%	01/15/29		31,944,000		31,065,539
Teva Pharmaceuticals Financial Co. BV		2.800	%	07/21/23		3,122,000		3,108,107
								180,128,112

Diamond Hill Corporate Credit Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Corporate Bonds - 93.5% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
Insurance - 5.2%
Amwins Group, Inc. (a)		7.750	%	07/01/26	$	15,573,000	$	16,663,110
AssuredPartners, Inc. (a)		7.000	%	08/15/25		20,218,000		20,897,324
MGIC Investment Corp.		5.250	%	08/15/28		18,300,000		19,009,125
National Financial Partners Corp. (a)		6.875	%	08/31/28		29,597,000		30,706,887
Radian Group, Inc.		4.500	%	10/01/24		2,060,000		2,143,018
Radian Group, Inc.		4.875	%	03/15/27		9,883,000		10,401,858
USIS Merger Subordinated, Inc. (a)		6.875	%	05/01/25		11,253,000		11,449,928
								111,271,250
Leisure - 10.0%
Affinity Gaming (a)		6.875	%	12/15/27		11,676,000		12,303,585
Carnival Corp. (a)		11.500	%	04/01/23		10,557,000		12,100,961
Carnival Corp. (a)(b)		10.500	%	02/01/26		4,830,000		5,681,288
Live Nation Entertainment, Inc. (a)		4.875	%	11/01/24		21,534,000		21,915,152
Live Nation Entertainment, Inc. (a)		5.625	%	03/15/26		17,291,000		17,958,433
Live Nation Entertainment, Inc. (a)(b)		3.750	%	01/15/28		6,358,000		6,270,578
Peninsula Pacific Entertainment LLC (a)		8.500	%	11/15/27		9,910,000		10,653,250
Playtika Holdings Corp. (a)		4.250	%	03/15/29		10,500,000		10,344,600
Speedway Motorsports LLC (a)		4.875	%	11/01/27		14,390,000		14,390,000
Stars Group Holdings (a)		7.000	%	07/15/26		19,405,000		20,278,224
Station Casinos LLC (a)		5.000	%	10/01/25		20,674,000		20,932,425
Station Casinos LLC (a)		4.500	%	02/15/28		6,578,000		6,553,365
Viking Cruises Ltd. (a)		6.250	%	05/15/25		14,709,000		14,564,999
Viking Cruises Ltd. (a)		13.000	%	05/15/25		10,544,000		12,395,790
VOC Escrow Ltd. (a)		5.000	%	02/15/28		2,481,000		2,450,905
Wyndham Destinations, Inc. (a)		6.625	%	07/31/26		7,223,000		8,200,633
XHR LP (a)		6.375	%	08/15/25		16,003,000		16,903,169
								213,897,357
Media - 2.0%
Cimpress plc (a)(b)		7.000	%	06/15/26		33,518,000		35,384,952
Twitter, Inc. (a)(b)		3.875	%	12/15/27		6,112,000		6,408,371
								41,793,323
Real Estate - 3.5%
Forestar Group, Inc. (a)		8.000	%	04/15/24		12,330,000		12,869,438
Forestar Group, Inc. (a)		5.000	%	03/01/28		8,479,000		8,799,591
iStar, Inc.		4.250	%	08/01/25		1,512,000		1,522,433

Diamond Hill Corporate Credit Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Corporate Bonds - 93.5% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
Real Estate - 3.5% (continued)
iStar, Inc.		5.500	%	02/15/26	$	20,253,000	$	20,607,428
New Residential Investment Corp. (a)(b)		6.250	%	10/15/25		30,608,000		30,722,779
								74,521,669
Retail - 8.6%
ANGI Group LLC (a)(b)		3.875	%	08/15/28		23,451,000		23,451,000
Carvana Co. (a)		5.625	%	10/01/25		15,368,000		15,765,263
Carvana Co. (a)		5.500	%	04/15/27		4,778,000		4,803,085
GrubHub Holdings, Inc. (a)		5.500	%	07/01/27		38,035,000		39,556,400
IRB Holding Corp. (a)		7.000	%	06/15/25		13,471,000		14,500,858
Liberty Interactive LLC (b)		8.500	%	07/15/29		9,696,000		11,053,440
LSF9 Atlanta Holdings / Victoria Financial (a)		7.750	%	02/15/26		25,242,000		25,830,896
Nathan's Famous, Inc. (a)		6.625	%	11/01/25		22,628,000		23,193,700
QVC, Inc.		5.450	%	08/15/34		25,684,000		25,683,999
								183,838,641
Services - 4.9%
Adtalem Escrow Corp. (a)		5.500	%	03/01/28		18,400,000		18,166,504
Graham Holdings Co. (a)		5.750	%	06/01/26		3,974,000		4,153,227
IAA Spinco, Inc. (a)		5.500	%	06/15/27		12,653,000		13,269,834
KAR Auction Services, Inc. (a)(b)		5.125	%	06/01/25		24,962,000		25,412,564
Korn Ferry International (a)		4.625	%	12/15/27		13,885,000		14,145,344
Uber Technologies, Inc. (a)		8.000	%	11/01/26		27,973,000		30,280,773
								105,428,246
Technology & Electronics - 6.3%
Black Knight Infoserv LLC (a)		3.625	%	09/01/28		24,267,000		23,844,997
GoDaddy, Inc. (a)		3.500	%	03/01/29		2,000,000		1,965,000
Itron, Inc. (a)		5.000	%	01/15/26		11,531,000		11,813,510
Logan Merger Sub, Inc. (a)		5.500	%	09/01/27		21,027,000		22,012,746
MTS Systems Corp. (a)		5.750	%	08/15/27		10,431,000		11,363,271
NCR Corp. (a)		5.000	%	10/01/28		27,553,000		27,828,529
Seagate Holdings (a)		3.125	%	07/15/29		11,775,000		11,372,589
Seagate Holdings (a)		4.125	%	01/15/31		2,214,000		2,248,151
Shift4 Payments LLC (a)(b)		4.625	%	11/01/26		9,425,000		9,778,437
ZoomInfo Technologies LLC (a)		3.875	%	02/01/29		13,894,000		13,626,263
								135,853,493

Diamond Hill Corporate Credit Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Corporate Bonds - 93.5% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
Telecommunications - 3.9%
CB Escrow Corp. (a)		8.000	%	10/15/25	$	13,670,000	$	14,540,300
Frontier Communications Corp. (a)		5.875	%	10/15/27		7,573,000		8,027,380
Frontier Communications Corp. (a)		5.000	%	05/01/28		5,199,000		5,294,558
HTA Group Ltd. (a)		7.000	%	12/18/25		13,350,000		14,184,375
LCPR Senior Secured Financing Designated Activity Co. (a)		6.750	%	10/15/27		12,751,000		13,594,479
Viasat, Inc. (a)		5.625	%	09/15/25		17,485,000		17,772,803
Viasat, Inc. (a)(b)		5.625	%	04/15/27		9,544,000		10,010,845
								83,424,740
Transportation - 0.8%
Air Canada, Series 2020-2, Class A (a)		5.250	%	10/01/30		6,981,000		7,502,060
Air Canada, Series 2017-1, Class AA (a)		3.300	%	07/15/31		767,360		747,513
Alaska Airlines, Series 2020-1B, Class A (a)		4.800	%	08/15/27		4,778,672		5,231,834
Delta Air Lines, Inc.		2.900	%	10/28/24		3,139,000		3,138,719
United Airlines Pass-Through Trust, Series 2013-1, Class B		5.375	%	02/15/23		170,271		172,056
								16,792,182
Total Corporate Bonds (Cost $1,966,326,429)							$	2,000,705,509

Warrants – 0.0%	Shares		Fair Value
Floatel International Ltd. (c)(d) (Cost $3,927,584)		587,560	$	0
Registered Investment Companies - 10.5%		Shares		Fair Value
State Street Institutional US Government Money Market Fund, Premier Class, 0.04% (e)		147,668,820	$	147,668,820
State Street Navigator Securities Lending Portfolio I, 0.10% (e)(f)		77,178,080		77,178,080
Total Registered Investment Companies (Cost $224,846,900)			$	224,846,900

Diamond Hill Corporate Credit Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

	Shares	Fair Value
Total Investment Securities - 104.1% (Cost $2,197,635,214)		$	2,226,861,635
Liabilities in Excess of Other Assets - (4.1)%			(86,519,083	)
Net Assets - 100.0%		$	2,140,342,552

(a)	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 March 31, 2021 was $1,697,675,610, representing 79.3% of net assets.
(b)	All or a portion of the security is on loan.  The total fair value of the securities on loan as of March 31, 2021 was $90,244,061.
(c)	Illiquid security as determined under procedures approved by the Board of Trustees. The total fair value of these securities as of March 31, 2021 was $27,660,472, representing 1.3% of net assets.
(d)	Security fair valued under procedures established by the Board of Trustees. The total value of these securities is $0.
(e)	The rate shown is the 7-day effective yield as of March 31,2021.
(f)	The security was purchased with cash collateral from securities on loan.

* Non-income producing security. Restricted and illiquid securities not registered under the securities act of 1933 and valued at fair value by the Valuation & Liquidity Committee based on procedures approved by the Board of Trustees are as follows:

	Acquisition Date	Current Cost		Fair Value		Value as a % of Net Assets
Alesco Preferred Funding Ltd., Class PNNE	March-05	$	336,608	$	147,333		0.01	%
Alesco Preferred Funding Ltd. VI, Class PNN	December-04	$	621,631	$	285,444		0.01	%
Fort Sheridan ABS CDO Ltd., Series 05-1A, Class PPN2	March-05	$	520,931	$	337,319		0.02	%
Taberna Preferred Funding Ltd., Class PPN2	March-05	$	1,055,131	$	539,130		0.03	%
		$	2,534,301	$	1,309,226		0.07	%

A/S -	Aktieselskab
BV -	Besloten Vennootschap
plc -	Public Limited Company

See accompanying notes to Schedules of Investments.

Diamond Hill High Yield Fund

Schedule of Investments

March 31, 2021 (Unaudited)

Corporate Bonds - 95.4%	Coupon			Maturity	Shares / Par Value		Fair Value
Automotive - 0.3%
Ford Motor Credit Co. LLC (a)		3.470	%	04/05/21	$	1,805,000	$	1,805,000
Tesla, Inc. (b)		5.300	%	08/15/25		1,000,000		1,037,600
								2,842,600
Banking - 1.2%
Cadence Bancorp (3MO LIBOR + 303) (e)		4.750	%	06/30/29		10,750,000		10,745,301
Popular, Inc.		6.125	%	09/14/23		796,000		859,680
Signature Bank		4.000	%	10/15/30		400,000		412,594
								12,017,575
Basic Industry - 3.5%
Brundage-Bond Concrete Pumping (b)		6.000	%	02/01/26		3,385,000		3,528,863
GCP Applied Technologies, Inc. (b)		5.500	%	04/15/26		12,690,000		13,054,203
Mueller Industries, Inc. (a)		6.000	%	03/01/27		4,500,000		4,593,600
Schweitzer-Mauduit International, Inc. (b)		6.875	%	10/01/26		10,700,000		11,342,000
W.R. Grace & Co. (b)		4.875	%	06/15/27		1,500,000		1,552,800
								34,071,466
Capital Goods - 2.1%
ATS Automation Tooling Systems (b)		4.125	%	12/15/28		9,150,000		9,069,937
Sealed Air Corp. (b)		6.875	%	07/15/33		500,000		615,265
TransDigm, Inc.		6.375	%	06/15/26		8,941,000		9,242,759
Welbilt, Inc. (a)		9.500	%	02/15/24		1,000,000		1,030,000
								19,957,961
Consumer Goods - 6.7%
C&S Group Enterprises LLC (b)		5.000	%	12/15/28		10,200,000		9,919,500
Cooke Omega Investments, Inc. / Alpha VesselCo Holdings, Inc. (b)		8.500	%	12/15/22		11,500,000		11,816,250
Pilgrim's Pride Corp. (b)		5.750	%	03/15/25		5,375,000		5,485,725
Pilgrim's Pride Corp. (a)(b)		5.875	%	09/30/27		6,829,000		7,318,639
Post Holdings, Inc. (b)		4.500	%	09/15/31		7,000,000		6,923,000
Turning Point Brands, Inc. (b)		5.625	%	02/15/26		7,000,000		7,262,500
US Foods, Inc. (b)		4.750	%	02/15/29		5,700,000		5,700,000
Vector Group Ltd. (b)		10.500	%	11/01/26		9,314,000		9,978,088
								64,403,702
Energy - 13.8%
Apergy Corp.		6.375	%	05/01/26		11,100,000		11,627,250
Barrett Bill Corp.		7.000	%	10/15/22		13,248,000		7,683,840

Diamond Hill High Yield Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Corporate Bonds - 95.4% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
Energy - 13.8% (continued)
Delek Overriding Royalty Leviathan Ltd.		7.494	%	12/30/23	$	11,263,000	$	11,488,260
Double Eagle III (b)		7.750	%	12/15/25		5,500,000		5,872,460
Energean Israel Finance		5.875	%	03/30/31		4,400,000		4,389,000
Energen Corp.		7.125	%	02/15/28		4,375,000		5,064,298
Floatel International Ltd.		9.000	%	04/11/24		654,000		163,500
LBC Tank Terminals Holdings Netherlands BV (b)		6.875	%	05/15/23		6,450,000		6,450,000
Leviathan Energy		6.750	%	06/30/30		7,605,000		8,336,601
Magnolia Oil & Gas Corp. (b)		6.000	%	08/01/26		19,750,000		20,416,563
New Fortress Energy, Inc. (b)		6.750	%	09/15/25		10,800,000		11,095,920
New Fortress Energy, Inc. (b)		6.500	%	09/30/26		6,750,000		6,800,625
Solaris Midstream Holdings (b)		7.625	%	04/01/26		4,550,000		4,652,375
Talos Production, Inc. (b)		12.000	%	01/15/26		8,697,000		8,512,189
Teine Energy Ltd. (b)		6.875	%	04/15/29		5,700,000		5,768,970
Viper Energy Partners LP (b)		5.375	%	11/01/27		815,000		847,600
Welltec A/S (b)		9.500	%	12/01/22		14,500,000		14,282,500
								133,451,951
Financial Services - 12.9%
Alliance Data Systems Corp. (b)		7.000	%	01/15/26		16,850,000		18,032,870
Burford Capital Global Finance LLC (b)		6.250	%	04/15/28		4,600,000		4,715,000
Credit Acceptance Corp. (b)		5.125	%	12/31/24		3,700,000		3,774,000
Credit Acceptance Corp. (a)		6.625	%	03/15/26		15,000,000		15,787,500
FirstCash, Inc. (b)		4.625	%	09/01/28		4,668,000		4,761,360
Freedom Mortgage Corp (b)		7.625	%	05/01/26		8,100,000		8,484,750
Freedom Mortgage Corp. (b)		8.125	%	11/15/24		10,000,000		10,362,500
Freedom Mortgage Corp. (b)		8.250	%	04/15/25		8,950,000		9,319,187
FS KKR Capital Corp.		3.400	%	01/15/26		1,150,000		1,140,652
FS KKR Capital Corp. II (b)		4.250	%	02/14/25		5,949,000		6,060,983
LD Holdings Group LLC (b)		6.125	%	04/01/28		17,300,000		17,514,520
Nationstar Mortgage LLC (b)		6.000	%	01/15/27		7,770,000		8,061,375
Nationstar Mortgage LLC (b)		5.500	%	08/15/28		4,155,000		4,171,828
Quicken Loans LLC (b)		3.875	%	03/01/31		4,972,000		4,785,550
United Wholesale Mortgage LLC (b)		5.500	%	04/15/29		7,500,000		7,500,000
								124,472,075

Diamond Hill High Yield Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Corporate Bonds - 95.4% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
Health Care - 7.2%
Akumin, Inc. (b)		7.000	%	11/01/25	$	12,750,000	$	13,562,812
Davita, Inc. (b)		3.750	%	02/15/31		14,500,000		13,829,085
Emergent Biosolutions, Inc. (a)(b)		3.875	%	08/15/28		5,900,000		5,767,250
Endo Finance LLC (b)		5.750	%	01/15/22		3,555,000		3,537,225
Horizon Pharma USA, Inc. (b)		5.500	%	08/01/27		2,500,000		2,668,750
P&L Development LLC (b)		7.750	%	11/15/25		5,800,000		6,206,000
Providence Service Corp. (The) (b)		5.875	%	11/15/25		5,000,000		5,262,500
Syneos Health, Inc. (b)		3.625	%	01/15/29		13,350,000		12,982,875
Teva Pharmaceuticals Financial Co. BV		2.800	%	07/21/23		5,450,000		5,425,747
								69,242,244
Insurance - 3.8%
AssuredPartners, Inc. (b)		7.000	%	08/15/25		6,800,000		7,028,480
GTCR AP Finance, Inc. (a)(b)		8.000	%	05/15/27		7,048,000		7,567,790
Hub International Ltd. (b)		7.000	%	05/01/26		1,000,000		1,038,410
National Financial Partners Corp. (b)		6.875	%	08/31/28		14,700,000		15,251,250
Radian Group, Inc.		4.875	%	03/15/27		5,100,000		5,367,750
								36,253,680
Leisure - 13.3%
Affinity Gaming (b)		6.875	%	12/15/27		7,350,000		7,745,062
Carnival Corp. (a)(b)		10.500	%	02/01/26		8,000,000		9,410,000
Carnival Corp. (b)		7.625	%	03/01/26		4,645,000		4,990,123
CCM Merger, Inc. (a)(b)		6.375	%	05/01/26		4,747,000		5,040,697
Golden Nugget, Inc. (b)		6.750	%	10/15/24		4,964,000		5,019,448
Live Nation Entertainment, Inc. (b)		4.875	%	11/01/24		5,400,000		5,495,580
Live Nation Entertainment, Inc. (b)		5.625	%	03/15/26		13,000,000		13,501,800
Peninsula Pacific Entertainment LLC (b)		8.500	%	11/15/27		11,000,000		11,825,000
Playtika Holdings Corp. (b)		4.250	%	03/15/29		5,400,000		5,320,080
Speedway Motorsports LLC (b)		4.875	%	11/01/27		9,100,000		9,100,000
Stars Group Holdings (b)		7.000	%	07/15/26		7,950,000		8,307,750
Station Casinos LLC (b)		5.000	%	10/01/25		8,200,000		8,302,500
Station Casinos LLC (b)		4.500	%	02/15/28		4,225,000		4,209,177
Vail Resorts, Inc. (b)		0.000	%	01/01/26		1,000,000		1,023,260
Viking Cruises Ltd. (b)		6.250	%	05/15/25		8,860,000		8,773,261
Viking Cruises Ltd. (b)		13.000	%	05/15/25		6,200,000		7,288,875
Wyndham Destinations, Inc. (b)		6.625	%	07/31/26		3,400,000		3,860,190

Diamond Hill High Yield Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Corporate Bonds - 95.4% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
Leisure - 13.3% (continued)
XHR LP (b)		6.375	%	08/15/25	$	8,150,000	$	8,608,438
								127,821,241
Media - 1.7%
Cimpress plc (a)(b)		7.000	%	06/15/26		13,650,000		14,410,305
Match Group, Inc. (b)		5.000	%	12/15/27		1,000,000		1,047,500
Twitter, Inc. (a)(b)		3.875	%	12/15/27		1,000,000		1,048,490
								16,506,295
Real Estate - 3.9%
Forestar Group, Inc. (b)		8.000	%	04/15/24		1,750,000		1,826,562
Forestar Group, Inc. (b)		5.000	%	03/01/28		2,625,000		2,724,251
iStar, Inc.		4.250	%	08/01/25		7,500,000		7,551,750
iStar, Inc.		5.500	%	02/15/26		8,800,000		8,954,000
New Residential Investment Corp. (b)		6.250	%	10/15/25		17,000,000		17,063,750
								38,120,313
Retail - 10.5%
101178 B.C. Unlimited Liability (b)		4.000	%	10/15/30		1,000,000		965,000
Abercrombie & Fitch Management Co. (b)		8.750	%	07/15/25		4,435,000		4,900,675
Academy Ltd. (b)		6.000	%	11/15/27		500,000		526,250
ANGI Group LLC (a)(b)		3.875	%	08/15/28		9,300,000		9,300,000
Carvana Co. (b)		5.625	%	10/01/25		3,000,000		3,077,550
Carvana Co. (b)		5.500	%	04/15/27		3,200,000		3,216,800
Carvana Co. (b)		5.875	%	10/01/28		7,546,000		7,734,650
GrubHub Holdings, Inc. (b)		5.500	%	07/01/27		15,150,000		15,756,000
IRB Holding Corp. (a)(b)		6.750	%	02/15/26		8,036,000		8,317,260
Liberty Interactive LLC (a)		8.500	%	07/15/29		5,275,000		6,013,500
LSF9 Atlanta Holdings / Victoria Financial (b)		7.750	%	02/15/26		14,675,000		15,017,368
Nathan's Famous, Inc. (b)		6.625	%	11/01/25		9,450,000		9,686,250
QVC, Inc. (a)		5.450	%	08/15/34		11,000,000		11,000,000
QVC, Inc.		5.950	%	03/15/43		2,150,000		2,096,250
Seg Holdings LLC (b)		5.625	%	10/15/28		3,780,000		3,959,550
								101,567,103
Services - 5.2%
Adtalem Escrow Corp. (b)		5.500	%	03/01/28		11,800,000		11,650,258
Gartner, Inc. (b)		4.500	%	07/01/28		4,575,000		4,717,969
KAR Auction Services, Inc. (a)(b)		5.125	%	06/01/25		11,100,000		11,300,355

Diamond Hill High Yield Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Corporate Bonds - 95.4% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
Services - 5.2% (continued)
Korn Ferry International (b)		4.625	%	12/15/27	$	5,000,000	$	5,093,750
Stericycle, Inc. (b)		3.875	%	01/15/29		3,347,000		3,305,162
Uber Technologies, Inc. (b)		8.000	%	11/01/26		12,850,000		13,910,125
								49,977,619
Technology & Electronics - 6.5%
Black Knight Infoserv LLC (b)		3.625	%	09/01/28		5,200,000		5,109,572
GoDaddy, Inc. (b)		3.500	%	03/01/29		500,000		491,250
Logan Merger Sub, Inc. (b)		5.500	%	09/01/27		9,215,000		9,646,999
MTS Systems Corp. (a)(b)		5.750	%	08/15/27		2,300,000		2,505,563
NCR Corp. (b)		5.000	%	10/01/28		10,000,000		10,100,000
NCR Corp. (b)		5.125	%	04/15/29		6,500,000		6,548,783
Nokia Corp.		6.625	%	05/15/39		1,000,000		1,230,560
Seagate Holdings (b)		4.091	%	06/01/29		1,000,000		1,019,025
Seagate Holdings (b)		3.125	%	07/15/29		3,860,000		3,728,084
Seagate Holdings (b)		4.125	%	01/15/31		1,500,000		1,523,138
Trinet Group, Inc. (b)		3.500	%	03/01/29		9,560,000		9,351,592
ZoomInfo Technologies LLC (b)		3.875	%	02/01/29		11,300,000		11,082,249
								62,336,815
Telecommunications - 2.4%
CB Escrow Corp. (b)		8.000	%	10/15/25		3,800,000		4,041,927
Frontier Communications Corp. (b)		5.875	%	10/15/27		1,875,000		1,987,500
Frontier Communications Corp. (b)		5.000	%	05/01/28		2,400,000		2,444,112
HTA Group Ltd. (b)		7.000	%	12/18/25		6,050,000		6,428,125
LCPR Senior Secured Financing Designated Activity Co. (b)		6.750	%	10/15/27		3,200,000		3,411,680
Viasat, Inc. (b)		5.625	%	09/15/25		5,000,000		5,082,300
								23,395,644
Transportation - 0.4%
Delta Air Lines, Inc.		2.900	%	10/28/24		3,755,000		3,754,664

Diamond Hill High Yield Fund

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Corporate Bonds - 95.4% (continued)	Coupon			Maturity	Shares / Par Value		Fair Value
Transportation - 0.4% (continued)
U.S. Airways Pass-Through Trust, Series 2012-2, Class B		6.750	%	12/03/22	$	188,384	$	188,916
								3,943,580
Total Corporate Bonds (Cost $896,579,680)							$	920,381,864

Securitized - 0.0% (d)	Coupon			Maturity	Shares / Par Value		Fair Value
ABS-Other - 0.0% (d)
Access Point Financial, Inc., Series 2017-A, Class C (b)(c) (Cost $249,958)		5.820	%	04/15/29	$	250,000	$	249,188

Warrants – 0.0%	Shares		Fair Value
Floatel International Ltd. (c) (f) (Cost $693,103)		103,687	$	0
Registered Investment Companies - 7.1%		Shares		Fair Value
State Street Institutional US Government Money Market Fund, Premier Class, 0.04% (g)		49,808,496	$	49,808,496
State Street Navigator Securities Lending Portfolio I, 0.10% (g)(h)		18,901,348		18,901,348
Total Registered Investment Companies (Cost $68,709,844)			$	68,709,844
Total Investment Securities - 102.5% (Cost $966,232,585)			$	989,340,896
Liabilities in Excess of Other Assets - (2.5)%				(24,761,647	)
Net Assets - 100.0%			$	964,579,249

(a)	All or a portion of the security is on loan.  The total fair value of the securities on loan as of March 31, 2021 was $30,143,749.
(b)	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 March 31, 2021 was $774,678,080, representing 80.3% of net assets.
(c)	Illiquid security as determined under procedures approved by the Board of Trustees. The total fair value of these securities as of March 31, 2021 was $412,688, representing 0.0% (d) of net assets.
(d)	Percentage rounds to less than 0.1%.
(e)	Variable rate security. The rate shown is the effective interest rate as of March 31, 2021. 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, prepayment of underlying positions and/or other variables. These securities do not indicate a reference rate and spread in their description above.
(f)	Security fair valued under procedures established by the Board of Trustees. The total value of these securities is $0.
(g)	The rate shown is the 7-day effective yield as of March 31, 2021.
(h)	The security was purchased with cash collateral from securities on loan.

A/S -	Aktieselskab
BV -	Besloten Vennootschap
LIBOR -	London Interbank Offered Rate
plc -	Public Limited Company

See accompanying notes to Schedules of Investments.

Diamond Hill Funds
Notes to Schedule of Investments and Investments Sold Short
March 31, 2021 (Unaudited)

1. Organization

The Diamond Hill Small Cap Fund (“Small Cap Fund”), Diamond Hill Small-Mid Cap Fund (“Small-Mid Cap Fund”), Diamond Hill Mid Cap Fund (“Mid Cap Fund”), Diamond Hill Large Cap Fund (“Large Cap Fund”), Diamond Hill Large Cap Concentrated Fund (“Large Cap Concentrated Fund”), Diamond Hill All Cap Select Fund (“All Cap Select Fund”), Diamond Hill Long-Short Fund (“Long-Short Fund”), Diamond Hill Global Fund (“Global Fund”), Diamond Hill International Fund (“International Fund”), Diamond Hill Short Duration Securitized Bond Fund (“Short Duration Fund”), Diamond Hill Core Bond Fund (“Core Bond Fund”), Diamond Hill Corporate Credit Fund (“Corporate Credit Fund”) and Diamond Hill High Yield Fund (“High Yield Fund”) are each a diversified series, except for the Large Cap Concentrated Fund and the All Cap Select Fund which are non-diversified, of the Diamond Hill Funds (the “Trust”) (each a “Fund” and collectively the “Funds”). The Trust is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management company. Each Fund follows accounting and reporting guidance under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946, “Financial Services – Investment Companies.”

The Funds offer three classes of shares: Investor Class, Class I and Class Y. Each class of shares for each Fund has identical rights and privileges except with respect to distribution (12b-1) and service fees, voting rights on matters affecting a single class of shares, exchange privileges of each class of shares and sales charges.

2. Significant Accounting Policies

The following is a summary of the Funds’ significant accounting policies:

Estimates — The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”), which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.

Security valuation — The Funds record their investments at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The valuation techniques used by the Funds maximize the use of observable inputs and minimize the use of unobservable inputs in determining fair value. These inputs are summarized in the three broad levels listed below:

· Level 1 — quoted prices in active markets for identical securities

· Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

· Level 3 — significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments)

Listed securities for which market quotations are readily available are valued at the closing prices as determined by the primary exchange where the securities are traded. Unlisted securities or listed securities for which the latest sales prices are not readily available are valued at the closing bid (long positions) or ask (short positions) price in the principal market where such securities are normally traded. Investments in other open-end investment companies are valued at their reported NAV per share. In each of these situations, valuations are typically categorized as Level 1 in the fair value hierarchy.

Debt securities are valued on the basis of valuations provided by dealers or by an independent pricing service which take into account appropriate factors such as trading activity (i.e., market transactions for normal, institutional-size trading units of similar securities), readily available market quotations (including broker quotes), yield, quality, coupon rate, maturity, type of issue, trading characteristic, call features, credit ratings and other data. Short-term debt investments of sufficient credit quality maturing in less than 61 days may be valued at amortized cost, if amortized cost is determined to approximate fair value. In each of these situations, valuations are typically categorized as Level 2 in the fair value hierarchy.

Securities for which market quotations are not readily available (e.g., an approved pricing service does not provide a price, a price becomes stale, or an event occurs that materially affects the furnished price) are valued by the Valuation & Liquidity Committee. In these cases, the Valuation & Liquidity Committee, established and appointed by the Board of Trustees, determines in good faith, subject to Trust procedures, the fair value of portfolio securities held by a Fund (“good faith fair valuation”). When a good faith fair valuation of a security is required, consideration is generally given to a number of factors, including, but not limited to the following: dealer quotes, published analyses by dealers or analysts of the situation at issue, transactions implicitly valuing the security (such as a merger, tender offer, etc.), the value of other securities or contracts which derive their value from the security at issue, and the implications (whether negative or positive) of the circumstances which have caused trading in the security to halt. Depending on the source and relative significance of the valuation inputs in these instances, the valuations for these securities may be classified as Level 2 or Level 3 in the fair value hierarchy.

In accordance with procedures adopted by the Trust’s Board of Trustees, fair value pricing may be used if events materially affecting the value of foreign equity securities occur between the time the exchange on which they are traded closes and the time the Funds’ NAVs are calculated. The Funds use a systematic valuation model, provided daily by an independent third party, to fair value their international equity securities. These valuations are considered as Level 2 in the fair value hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.

The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. For example, short-term debt securities of sufficient credit quality maturing in less than 61 days may be valued using amortized cost in accordance with rules under the 1940 Act. Generally, amortized cost approximates the current fair value of a security, but since the value is not obtained from a quoted price in an active market, such securities are reflected as Level 2. The following is a summary of the Funds’ investments and the inputs used to value the investments as of March 31, 2021:

Investments in Securities (Assets)	Level 1 - Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Total
Small Cap Fund
Common Stocks*	$	572,430,564	$	-	$	-	$	572,430,564
Registered Investment Companies		18,662,538		-		-		18,662,538
Total	$	591,093,102	$	-	$	-	$	591,093,102
Small-Mid Cap Fund
Common Stocks*	$	2,049,193,514	$	-	$	-	$	2,049,193,514
Registered Investment Companies		184,986,969		-		-		184,986,969
Total	$	2,234,180,483	$	-	$	-	$	2,234,180,483
Mid Cap Fund
Common Stocks*	$	262,079,448	$	-	$	-	$	262,079,448
Registered Investment Companies		19,199,249		-		-		19,199,249
Total	$	281,278,697	$	-	$	-	$	281,278,697

Investments in Securities (Assets)	Level 1 - Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Total
Large Cap Fund
Common Stocks*	$	10,341,576,573	$	-	$	-	$	10,341,576,573
Registered Investment Companies		503,878,671		-		-		503,878,671
Total	$	10,845,455,244	$	-	$	-	$	10,845,455,244
Large Cap Concentrated Fund
Common Stocks*	$	10,282,301	$	-	$	-	$	10,282,301
Registered Investment Companies		299,859		-		-		299,859
Total	$	10,582,160	$	-	$	-	$	10,582,160
All Cap Select Fund
Common Stocks*	$	349,040,041	$	-	$	-	$	349,040,041
Registered Investment Companies		4,666,169		-		-		4,666,169
Total	$	353,706,210	$	-	$	-	$	353,706,210
Long-Short Fund
Common Stocks*	$	1,846,645,287	$	-	$	-	$	1,846,645,287
Registered Investment Companies		502,772,231		-		-		502,772,231
Total	$	2,349,417,518	$	-	$	-	$	2,349,417,518
Global Fund
Common Stocks*	$	10,750,440	$	4,758,682	$	-	$	15,509,122
Registered Investment Companies		662,786		-		-		662,786
Total	$	11,413,226	$	4,758,682	$	-	$	16,171,908
International Fund
Common Stocks*	$	6,071,882	$	12,704,095	$	-	$	18,775,977
Warrants		3,169		-		-		3,169
Registered Investment Companies		1,506,779		-		-		1,506,779
Total	$	7,581,830	$	12,704,095	$	-	$	20,285,925
Short Duration Securitized Bond Fund
Corporate Credit*	$	-	$	17,717,797	$	-	$	17,717,797
Securitized*		-		1,014,539,105		-		1,014,539,105
Registered Investment Companies		209,795,761		-		-		209,795,761
Total	$	209,795,761	$	1,032,256,902	$	-	$	1,242,052,663

Investments in Securities (Assets)	Level 1 - Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs			Total
Core Bond Fund
Corporate Credit*	$	-	$	59,819,618	$	-		$	59,819,618
Government Related*		-		1,201,929		-			1,201,929
Securitized*		-		228,311,918		-			228,311,918
Treasury		-		57,438,583		-			57,438,583
Registered Investment Companies		23,230,618		-		-			23,230,618
Total	$	23,230,618	$	346,772,048	$	-		$	370,002,666
Corporate Credit Fund
Collateralized Debt Obligations	$	-	$	1,309,226	$	-		$	1,309,226
Corporate Bonds*		-		2,000,705,509		-			2,000,705,509
Warrants		-		-		0	**		0
Registered Investment Companies		224,846,900		-		-			224,846,900
Total	$	224,846,900	$	2,002,014,735	$	0		$	2,226,861,635
High Yield Fund
Corporate Bonds*	$	-	$	920,381,864	$	-		$	920,381,864
Securitized*		-		249,188		-			249,188
Warrants		-		-		0	**		0
Registered Investment Companies		68,709,844		-		-			68,709,844
Total	$	68,709,844	$	920,631,052	$	0		$	989,340,896

Investments in Securities Sold Short: (Liabilities)	Level 1 - Quoted Prices			Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Total
Long-Short Fund
Common Stocks*	$	(603,075,867	)	$	-	$	-	$	(603,075,867	)
Total	$	(603,075,867	)	$	-	$	-	$	(603,075,867	)

* See Schedule of Investments and Schedule of Investments Sold Short for industry classification.

** Corporate Credit Fund and High Yield Fund hold Warrants that have been fair valued at $0.

There were no transfers into or out of Level 3 for the three months ended March 31, 2021.

Short sales — The Long-Short Fund, Global Fund, International Fund, Corporate Credit Fund and High Yield Fund are permitted to make short sales of securities. Short sales are effective when it is believed that the price of a particular security will decline and involves the sale of a security that the Fund does not own in hope of purchasing the same security at a later date at a lower price. To make delivery to the buyer, a 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. Cash received from short sales and other liquid securities are maintained by the custodian and are used as collateral. Cash collateral is shown as “Cash deposits with custodian for securities sold short” on the Statements of Assets & Liabilities and “Segregated Cash With Custodian” on the Schedules of Investments. Liquid securities pledged as collateral are noted on the Schedules of Investments.

A Fund will incur a loss as a result of a short sale if the price of the security increases between the date of the short sale and the date on which the Fund purchases the security to replace the borrowed security. The use of short sales may cause a Fund to have higher expenses (specifically dividend expenses) than those of other equity mutual funds. Short sales are speculative transactions and involve special risks, including greater reliance on the ability of the Funds’ investment adviser, Diamond Hill Capital Management, Inc. (“DHCM”), to accurately anticipate the future value of a security.

A Fund may also incur stock loan fees which represent the cost of borrowing securities used for short sale transactions. A Fund may also earn rebates as an element of the custodian arrangement, which are recorded as an offset to stock loan fees on short sales transactions.

Securities lending — Under the terms of the securities lending agreement with State Street Bank and Trust Company (“State Street”), State Street is authorized to loan securities on behalf of the Funds to approved borrowers. The contractual maturity of securities lending transactions is on an overnight and continuous basis. In exchange, the Funds receive cash and/or U.S. Treasury and government agency securities as collateral in the amount of at least 100% of the value of the securities loaned. Any collateral shortfalls due to changes in security market prices are adjusted the next business day. The cash collateral is invested in short-term instruments as noted in each Fund’s Schedule of Investments. Although risk is mitigated by the collateral, the Funds could experience a delay in recovering their securities and possible loss of income or value if the borrower fails to return them. The agreement indemnifies the Funds from losses incurred in the event of a borrower’s material default of the terms and conditions of the borrower agreement. The agreement provides that after predetermined rebates to borrowers, the Funds each retain a portion of their respective net securities lending income and pay State Street the remaining portion. The Funds manage credit exposure arising from these lending transactions by, in appropriate circumstances, entering into a master netting agreement and collateral agreement with State Street that provide the Funds, in the event of default (such as bankruptcy or borrower’s failure to pay or perform), the right to net rights and obligations under such agreements and liquidate and set off collateral against the net amount owed to the Funds.

As of March 31, 2021, the fair value of securities on loan and the collateral held were as follows:

			Fair Value of Collateral
	Fair Value of Securities Loaned		Cash Collateral		Non-Cash Collateral*		Total Collateral
Small Cap Fund	$	12,111,992	$	87,808	$	12,110,379	$	12,198,187
Small-Mid Cap Fund		78,723,121		52,904,741		28,562,073		81,466,814
Large Cap Fund		127,558,856		30,076,266		100,205,709		130,281,975
Long-Short Fund		325,380,971		334,435,674		-		334,435,674
International Fund		1,264,772		1,227,737		109,135		1,336,872
Short Duration Fund		502,889		515,075		-		515,075
Core Bond Fund		26,956,640		17,709,009		9,918,965		27,627,974
Corporate Credit Fund		90,244,061		77,178,080		15,710,805		92,888,885
High Yield Fund		30,143,749		18,901,348		12,105,990		31,007,338

* These securities are held for the benefit of the Funds at the Funds’ custodian. The Funds cannot repledge or resell this collateral. As such, collateral is excluded from the Schedules of Investments.

Security transactions — Throughout the reporting period, investment transactions are generally recorded on trade date but no later than the first business day following trade date. For financial reporting purposes, investments are recorded on trade date. The specific identification method is used for determining realized gains or losses for financial statements and income tax purposes. Dividend income and expense are recognized on the ex-dividend date and interest income is recognized on an accrual basis. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Taxes on foreign dividends and/or capital gains have been recorded for in accordance with the Funds’ understanding of the applicable country’s tax rules and rates. Discounts and premiums on securities purchased are amortized using the daily effective yield method and included in interest income. The Funds record distributions received from investments in real estate investment trusts (also known as “REITs”) and partnerships in excess of income from underlying investments as a reduction of cost of investments and/or realized gain. Such amounts are based on estimates if actual amounts are not available, and actual amounts of income, realized gain and return of capital may differ from the estimated amounts. The Funds adjust the estimated amounts once the issuers provide information about the actual composition of the distributions. Interest only stripped mortgage-backed securities (“IO Strips”) are securities that receive only interest payments from a pool of mortgage loans. Little to no principal will be received by the Funds upon maturity of an IO Strip. Periodic adjustments are recorded to reduce the cost of the security until maturity, which are included in interest income.

3. Federal Tax Information

As of March 31, 2021, the Funds’ federal tax cost of portfolio investments and net unrealized appreciation (depreciation) on portfolio investments including short sales, where applicable, were as follows:

	Small Cap Fund			Small-Mid Cap Fund			Mid Cap Fund			Large Cap Fund
Tax cost of portfolio investments	$	342,558,659		$	1,620,721,081		$	216,583,728		$	7,739,893,810
Gross unrealized appreciation		253,390,607			662,294,839			72,946,390			3,163,071,364
Gross unrealized depreciation		(4,856,164	)		(48,835,437	)		(8,251,421	)		(57,509,930	)
Net unrealized appreciation on portfolio investments	$	248,534,443		$	613,459,402		$	64,694,969		$	3,105,561,434

	Large Cap Concentrated Fund			All Cap Select Fund			Long-Short Fund			Global Fund
Tax cost of portfolio investments	$	10,015,650		$	239,026,254		$	1,088,590,479		$	13,736,060
Gross unrealized appreciation		580,448			115,689,159			806,533,285			2,581,080
Gross unrealized depreciation		(13,938	)		(1,009,203	)		(148,782,113	)		(145,232	)
Net unrealized appreciation on portfolio investments	$	566,510		$	114,679,956		$	657,751,172		$	2,435,848

	International Fund			Short Duration Fund			Core Bond Fund			Corporate Credit Fund
Tax cost of portfolio investments	$	17,561,624		$	1,228,703,844		$	372,992,510		$	2,202,741,455
Gross unrealized appreciation		3,361,753			26,942,562			6,885,388			46,225,565
Gross unrealized depreciation		(637,452	)		(13,593,743	)		(9,875,232	)		(22,105,385	)
Net unrealized appreciation (depreciation) on portfolio investments	$	2,724,301		$	13,348,819		$	(2,989,844	)	$	24,120,180

	High Yield Fund
Tax cost of portfolio investments	$	967,553,540
Gross unrealized appreciation		27,313,548
Gross unrealized depreciation		(5,526,192	)
Net unrealized appreciation on portfolio investments	$	21,787,356

4. Affiliated Investments

Information regarding the Funds’ holdings in the Short Duration Securitized Bond Fund during the three months ended March 31, 2021 is as follows:

Affiliated Fund	Small-Mid Cap Fund		Mid Cap Fund		Long-Short Fund
Diamond Hill Short Duration Securitized Bond Fund
Value, December 31, 2020	$	26,643,319	$	1,626,675	$	34,836,878
Purchases		200,982		12,271		262,790
Change in Unrealized Appreciation/Depreciation		211,101		12,888		276,021
Value, March 31, 2021	$	27,055,402	$	1,651,834	$	35,375,689
Income Distributions	$	200,982	$	12,271	$	262,790

Subsequent Events

The Funds evaluated events from March 31, 2021 through the date that these financial statements were issued. There were no subsequent events to report that would have a material impact on the Funds’ financial statements except for the following:

On February 3, 2021, DHCM announced that it has entered into a definitive agreement to enable Brandywine Global Investment Management, LLC (“Brandywine Global”), a specialist investment manager and subsidiary of Franklin Resources, Inc., to acquire the business of the Corporate Credit and High Yield Funds. The transaction is expected to close in the second quarter of 2021, subject to customary closing conditions, including Board of Trustees and Fund shareholder approval. Portfolio managers John McClain and Bill Zox will join Brandywine Global as part of the transaction.