# EDGAR Filing Document

**Accession Number:** 0001032423
**File Stem:** 0001398344-25-022572
**Filing Date:** 2025-12
**Character Count:** 6168
**Document Hash:** ac01d4d970ddd2c80c294cc3734e74f1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-25-022572.hdr.sgml**: 20251217

**ACCESSION NUMBER**: 0001398344-25-022572

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251217

**DATE AS OF CHANGE**: 20251217

**EFFECTIVENESS DATE**: 20251217

**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:** 251577368

**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-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 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 |

---

## Series and Classes Contracts Data

### 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 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 FUNDS**

**Diamond Hill Small-Mid Cap Fund**

**Diamond Hill Mid Cap Fund**

**Supplement dated December 17, 2025**

**to the Summary Prospectus Dated February 28, 2025, and**

**to the Prospectus Dated February 28, 2025 As Amended, and**

**to the Statement of Additional Information Dated February 28, 2025 As Amended**

**Effective December 31, 2025, Anthony Philipp is named as a Co-Portfolio Manager of the Diamond Hill Small-Mid Cap Fund and the Diamond Hill Mid Cap Fund.**

**<u>Summary Prospectus and Prospectus</u>**

Accordingly, Page 3 of each respective Summary Prospectus and Pages 5 and 8 of the Prospectus are amended to include Anthony Philipp as a Portfolio Manager, with a Since 12/2025 date.

Accordingly, the table in the Portfolio Managers section on page 45 of the Prospectus is amended to include Mr. Philipp as a Portfolio Manager of the Diamond Hill Small-Mid Cap Fund and the Diamond Mid Cap Fund. In addition, the following biographical information shall also be included in this section.

**Mr. Philipp** has a Bachelor of Science in engineering (Eta Kappa Nu Honors) from the University of Illinois and a Masters of Business Administration (Dean's Honors and Distinctions) from Columbia University. He has been an investment professional with the Adviser since March 2024. Mr. Philipp currently serves as a Portfolio Manager for the Adviser. From 2019 to 2024, he was an investment analyst for Hotchkis & Wiley Capital Management. From 2016 to 2019, he was an investment analyst for Ziff Capital Partners. In 2015, he was an MBA analyst for Blue Ridge Capital, and from 2011 to 2014, he was an associate with Flexpoint Ford. From 2008 to 2011, Mr. Philipp was an analyst for Centerview Partners.

**<u>Statement of Additional Information</u>**

Accordingly, the Portfolio Manager Holdings section on Page 55 is amended to include the following information as of December 16, 2025:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| |  |  | **Dollar Range of Shares in the Fund** | **Dollar Range of Shares in the Fund** | **Dollar Range of Shares in the Fund** | **Dollar Range of Shares in the Fund** | **Dollar Range of Shares in the Fund** | **Dollar Range of Shares in the Fund** |
| <br>**Fund** | **Portfolio Manager** | **Portfolio Manager** | **$1 –**<br> **$10000** | **$10001 –**<br> **$50000**  | **$50001 –**<br> **$100000**  | **$100001 –**<br> **$500000**  | **$500001 –**<br> **$1000000**  | **Over**<br> **$1,000,000**  |
| Small-Mid Cap Fund | Anthony Philipp | PM |  |  |  | X |  |  |
| Mid Cap Fund | Anthony Philipp | PM |  |  |  | X |  |  |

---

In addition, the Other Accounts Managed section on Page 57 is amended to include the following information as of November 30, 2025:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name of Portfolio Manager** | **Account Category** | **Number of Accounts** | **Total Assets in Accounts** | **Number of Accounts Where Advisory Fee is Based on Account Performance** | **Total Assets in Accounts Where Advisory Fee is Based on Account Performance** |
| Anthony Philipp | Registered Investment Company | 2 | $1016646718 |  | $— |
| Portfolio Manager, Small-Mid Cap Fund and Mid Cap Fund | Other Pooled Investment Vehicles | 3 | $228620785 |  | $— |
|  | Other Accounts | 7 | $71902551 |  | $— |

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**YOU SHOULD READ THIS SUPPLEMENT IN CONJUNCTION WITH THE SUMMARY PROSPECTUS, PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION. PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.**