# EDGAR Filing Document

**Accession Number:** 0001032423
**File Stem:** 0001032423-25-000058
**Filing Date:** 2025-6
**Character Count:** 15702
**Document Hash:** 732ba83f96fec7c175d3e2f07a3dee98
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001032423-25-000058.hdr.sgml**: 20250610

**ACCESSION NUMBER**: 0001032423-25-000058

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250610

**DATE AS OF CHANGE**: 20250610

**EFFECTIVENESS DATE**: 20250610

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DIAMOND HILL FUNDS
- **CENTRAL INDEX KEY:** 0001032423

**ORGANIZATION NAME:**
- **EIN:** 316547095
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-22075
- **FILM NUMBER:** 251036728

**BUSINESS ADDRESS:**
- **STREET 1:** 325 JOHN H. MCCONNELL BOULEVARD
- **STREET 2:** SUITE 200
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43215
- **BUSINESS PHONE:** 614-255-3333

**MAIL ADDRESS:**
- **STREET 1:** 325 JOHN H. MCCONNELL BOULEVARD
- **STREET 2:** SUITE 200
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43215

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BSG FUNDS
- **DATE OF NAME CHANGE:** 19970206

## Series and Classes Contracts Data

### Diamond Hill Small Cap Fund (Series ID: S000003154)

---

|  |  |  |
|:---|:---|:---|
| Class Name                           | Ticker Symbol | Class ID   |
| Diamond Hill Small Cap Fund Investor | DHSCX         | C000008530 |
| Diamond Hill Small Cap Fund Class I  | DHSIX         | C000008532 |
| Diamond Hill Small Cap Fund Class Y  | DHSYX         | C000108463 |

---

### Diamond Hill Large Cap Fund (Series ID: S000003155)

---

|  |  |  |
|:---|:---|:---|
| Class Name                           | Ticker Symbol | Class ID   |
| Diamond Hill Large Cap Fund Investor | DHLAX         | C000008533 |
| Diamond Hill Large Cap Fund Class I  | DHLRX         | C000008535 |
| Diamond Hill Large Cap Fund Class Y  | DHLYX         | C000108464 |

---

### Diamond Hill Long-Short Fund (Series ID: S000003156)

---

|  |  |  |
|:---|:---|:---|
| Class Name                            | Ticker Symbol | Class ID   |
| Diamond Hill Long-Short Fund Investor | DIAMX         | C000008536 |
| Diamond Hill Long-Short Fund Class I  | DHLSX         | C000008538 |
| Diamond Hill Long-Short Fund Class Y  | DIAYX         | C000108465 |

---

### Diamond Hill Small-Mid Cap Fund (Series ID: S000012190)

---

|  |  |  |
|:---|:---|:---|
| Class Name                               | Ticker Symbol | Class ID   |
| Diamond Hill Small-Mid Cap Fund Investor | DHMAX         | C000033256 |
| Diamond Hill Small-Mid Cap Fund Class I  | DHMIX         | C000033258 |
| Diamond Hill Small-Mid Cap Fund Class Y  | DHMYX         | C000108467 |

---

### Diamond Hill Select Fund (Series ID: S000012191)

---

|  |  |  |
|:---|:---|:---|
| Class Name                        | Ticker Symbol | Class ID   |
| Diamond Hill Select Fund Investor | DHTAX         | C000033259 |
| Diamond Hill Select Fund Class I  | DHLTX         | C000033261 |
| Diamond Hill Select Fund Class Y  | DHTYX         | C000108468 |

---

### Diamond Hill Mid Cap Fund (Series ID: S000043502)

---

|  |  |  |
|:---|:---|:---|
| Class Name                         | Ticker Symbol | Class ID   |
| Diamond Hill Mid Cap Fund Investor | DHPAX         | C000134907 |
| Diamond Hill Mid Cap Fund Class I  | DHPIX         | C000134909 |
| Diamond Hill Mid Cap Fund Class Y  | DHPYX         | C000134910 |

---

### Diamond Hill Short Duration Securitized Bond Fund (Series ID: S000055043)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                                 | Ticker Symbol | Class ID   |
| Diamond Hill Short Duration Securitized Bond Fund Investor | DHEAX         | C000173083 |
| Diamond Hill Short Duration Securitized Bond Fund Class I  | DHEIX         | C000173084 |
| Diamond Hill Short Duration Securitized Bond Fund Class Y  | DHEYX         | C000173085 |

---

### Diamond Hill Core Bond Fund (Series ID: S000055044)

---

|  |  |  |
|:---|:---|:---|
| Class Name                           | Ticker Symbol | Class ID   |
| Diamond Hill Core Bond Fund Investor | DHRAX         | C000173086 |
| Diamond Hill Core Bond Fund Class I  | DHRIX         | C000173087 |
| Diamond Hill Core Bond Fund Class Y  | DHRYX         | C000173088 |

---

### Diamond Hill International Fund (Series ID: S000065011)

---

|  |  |  |
|:---|:---|:---|
| Class Name                               | Ticker Symbol | Class ID   |
| Diamond Hill International Fund Class Y  | DHIYX         | C000210481 |
| Diamond Hill International Fund Investor | DHIAX         | C000210482 |
| Diamond Hill International Fund Class I  | DHIIX         | C000210483 |

---

### Diamond Hill Large Cap Concentrated Fund (Series ID: S000071665)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                        | Ticker Symbol | Class ID   |
| Diamond Hill Large Cap Concentrated Fund Class Y  | DHFYX         | C000227094 |
| Diamond Hill Large Cap Concentrated Fund Investor | DHFAX         | C000227095 |
| Diamond Hill Large Cap Concentrated Fund Class I  | DHFIX         | C000227096 |

---

### Diamond Hill Core Plus Bond Fund (Series ID: S000088234)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                | Ticker Symbol | Class ID   |
| Diamond Hill Core Plus Bond Fund Investor | DHNAX         | C000254400 |
| Diamond Hill Core Plus Bond Fund Class I  | DHNIX         | C000254401 |
| Diamond Hill Core Plus Bond Fund Class Y  | DHNYX         | C000254402 |

---

## Series and Classes Contracts Data

### Diamond Hill Small Cap Fund (Series ID: S000003154)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000008530 | Diamond Hill Small Cap Fund Investor | DHSCX           |
| C000008532 | Diamond Hill Small Cap Fund Class I  | DHSIX           |
| C000108463 | Diamond Hill Small Cap Fund Class Y  | DHSYX           |

### Diamond Hill Large Cap Fund (Series ID: S000003155)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000008533 | Diamond Hill Large Cap Fund Investor | DHLAX           |
| C000008535 | Diamond Hill Large Cap Fund Class I  | DHLRX           |
| C000108464 | Diamond Hill Large Cap Fund Class Y  | DHLYX           |

### Diamond Hill Long-Short Fund (Series ID: S000003156)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000008536 | Diamond Hill Long-Short Fund Investor | DIAMX           |
| C000008538 | Diamond Hill Long-Short Fund Class I  | DHLSX           |
| C000108465 | Diamond Hill Long-Short Fund Class Y  | DIAYX           |

### Diamond Hill Small-Mid Cap Fund (Series ID: S000012190)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000033256 | Diamond Hill Small-Mid Cap Fund Investor | DHMAX           |
| C000033258 | Diamond Hill Small-Mid Cap Fund Class I  | DHMIX           |
| C000108467 | Diamond Hill Small-Mid Cap Fund Class Y  | DHMYX           |

### Diamond Hill Select Fund (Series ID: S000012191)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000033259 | Diamond Hill Select Fund Investor | DHTAX           |
| C000033261 | Diamond Hill Select Fund Class I  | DHLTX           |
| C000108468 | Diamond Hill Select Fund Class Y  | DHTYX           |

### Diamond Hill Mid Cap Fund (Series ID: S000043502)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000134907 | Diamond Hill Mid Cap Fund Investor | DHPAX           |
| C000134909 | Diamond Hill Mid Cap Fund Class I  | DHPIX           |
| C000134910 | Diamond Hill Mid Cap Fund Class Y  | DHPYX           |

### Diamond Hill Short Duration Securitized Bond Fund (Series ID: S000055043)

| Class ID   | Class Name                                                 | Ticker Symbol   |
|:---|:---|:---|
| C000173083 | Diamond Hill Short Duration Securitized Bond Fund Investor | DHEAX           |
| C000173084 | Diamond Hill Short Duration Securitized Bond Fund Class I  | DHEIX           |
| C000173085 | Diamond Hill Short Duration Securitized Bond Fund Class Y  | DHEYX           |

### Diamond Hill Core Bond Fund (Series ID: S000055044)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000173086 | Diamond Hill Core Bond Fund Investor | DHRAX           |
| C000173087 | Diamond Hill Core Bond Fund Class I  | DHRIX           |
| C000173088 | Diamond Hill Core Bond Fund Class Y  | DHRYX           |

### Diamond Hill International Fund (Series ID: S000065011)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000210481 | Diamond Hill International Fund Class Y  | DHIYX           |
| C000210482 | Diamond Hill International Fund Investor | DHIAX           |
| C000210483 | Diamond Hill International Fund Class I  | DHIIX           |

### Diamond Hill Large Cap Concentrated Fund (Series ID: S000071665)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000227094 | Diamond Hill Large Cap Concentrated Fund Class Y  | DHFYX           |
| C000227095 | Diamond Hill Large Cap Concentrated Fund Investor | DHFAX           |
| C000227096 | Diamond Hill Large Cap Concentrated Fund Class I  | DHFIX           |

### Diamond Hill Core Plus Bond Fund (Series ID: S000088234)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000254400 | Diamond Hill Core Plus Bond Fund Investor | DHNAX           |
| C000254401 | Diamond Hill Core Plus Bond Fund Class I  | DHNIX           |
| C000254402 | Diamond Hill Core Plus Bond Fund Class Y  | DHNYX           |

**DIAMOND HILL FUNDS**

**Diamond Hill Small Cap Fund**

**Diamond Hill Small-Mid Cap Fund**

**Diamond Hill Mid Cap Fund**

**Diamond Hill Large Cap Fund**

**Diamond Hill Large Cap Concentrated Fund**

**Diamond Hill Select Fund**

**Diamond Hill Long-Short Fund**

**Diamond Hill International Fund**

**Diamond Hill Short Duration Securitized Bond Fund**

**Diamond Hill Core Bond Fund**

**Diamond Hill Core Plus Bond Fund**

**Supplement dated June 10, 2025**

**to the Statement of Additional Information ("SAI") Dated February 28, 2025**

Effective June 10, 2025, the following sections of the Funds' SAI have been revised to include updated information.

**This section entitled "Reflow Redemption Service" is added to page 35 of the Funds' SAI immediately before the section titled "Repurchase Agreements."**

**Reflow Redemption Service**

Instead of borrowing, the Funds may participate in the ReFlow liquidity program, which is designed to provide an alternative liquidity source for mutual funds experiencing net redemptions of their shares. Pursuant to the program, ReFlow Fund, LLC ("ReFlow") provides participating mutual funds with a source of cash to meet net shareholder redemptions by standing ready each business day to purchase fund shares up to the value of the net shares redeemed by other shareholders that are to settle that business day. A Fund is not guaranteed to receive cash from ReFlow on any given day as allocation of ReFlow's cash is based on the results of ReFlow's automated daily auction process among participating mutual funds. Following purchases of Fund Shares, ReFlow then generally redeems those shares when the Fund experiences net shareholder purchases at the end of a maximum holding period determined by ReFlow, or at other times at ReFlow's discretion. While ReFlow holds Fund Shares, it will have the same rights and privileges with respect to those shares as any other shareholder.

For use of the ReFlow service, a Fund pays a fee to ReFlow each time it purchases Fund Shares, calculated by applying to the purchase amount a fee rate determined through the auction process. The current minimum fee rate (which is subject to change) is 0.14% of the value of the Fund Shares purchased by ReFlow, although the Fund may submit a bid at a higher fee rate if it determines that doing so is in the best interest of Fund shareholders. ReFlow's purchases of Fund Shares through the liquidity program are made on an investment-blind basis without regard to the Fund's objective, policies, or anticipated performance. In accordance with federal securities laws, ReFlow is prohibited from acquiring more than 3% of the outstanding voting securities of a Fund. ReFlow will periodically redeem its entire share position in a Fund and may request that such redemption be met in-kind in accordance with redemption in-kind policies described in the Prospectus. Purchases and redemptions of Fund Shares by ReFlow under the program are not considered excessive short-term trading under the Trust's policy Regarding Excessive Trading.

**The section entitled "Additional Purchase and Redemption Information" on page 50 of the Funds' SAI is hereby deleted and replace with the following:**

**Additional Purchase and Redemption Information**

All investments and exchanges are subject to approval by a Fund and the Fund reserves the right to reject any purchase or exchange of Shares at any time. The Funds request advance notification of investments in excess of 5% of the current net assets of the respective Fund. The Funds also encourage, to the extent possible, advance notification of large redemptions.

Generally, all purchases must be made in cash. However, the Funds reserve the right to accept payment in readily marketable securities instead of cash in accordance with procedures approved by the Board. If payment is made in securities, the applicable Fund will value the securities in the same manner in which it computes its NAV.

Generally, all redemptions will be for cash. However, if during any 90-day period you redeem Shares in an amount greater than the lesser of $250,000 or 1% of a Fund's net assets, the Funds reserve the right to pay part or all of your redemption proceeds above such threshold in readily marketable securities instead of cash in accordance with

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procedures approved by the Board. Marketable securities may include illiquid securities. You may experience a delay in converting illiquid securities to cash. Redemption-in-kind proceeds are limited to securities that are traded on a public securities market or are limited to securities for which bid and asked prices are available. These securities may be distributed to the redeeming shareholder based on a weighted-average pro-rata basis of the Funds' holdings. However, in certain circumstances, and in accordance with the Trust's policies and procedures, the Adviser may instead select securities for in-kind redemptions on a non pro-rata basis. If payment is made in securities, a Fund will value the securities selected in the same manner in which it computes its NAV. This process minimizes the effect of large redemptions on the Fund and its remaining shareholders. If you receive securities when redeeming your account, the securities will be subject to market fluctuation and you may incur tax and transaction costs if the securities are sold.

The Trust may suspend the right of redemption for such periods as are permitted under the 1940 Act and under the following unusual circumstances: (i) when the NYSE is closed (other than weekends and holidays) or trading is restricted, (ii) when an emergency exists, making disposal of portfolio securities or the valuation of net assets not reasonably practicable, or (iii) during any period when the SEC has by order permitted a suspension of redemption for the protection of shareholders.

**PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE**

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