DIAMOND HILL LARGE CAP FUND
Diamond Hill Funds · 3 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
DIAMOND HILL LARGE CAP FUND is an actively managed U.S. equity fund. 7% of DHLAX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 100% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
Fund profile
As filed in the prospectus · 2026 Q1
The investment objective of the Diamond Hill Large Cap Fund (the Fund or the Large Cap Fund) is to provide long-term capital appreciation.
The fund invests in large-cap U.S. equities that the adviser believes are undervalued based on fundamental analysis of earnings, revenue growth, operating margins, and competitive dynamics. Portfolio construction relies on individual stock selection rather than index weighting, with position sizes reflecting the adviser's conviction level. Because returns depend on the adviser's ability to identify undervalued securities and time their exit as they approach estimated fair value, performance will diverge from broad market benchmarks.
| Share class | Expense ratio |
|---|---|
| DHLAX | 0.98% |
| DHLRX | 0.69% |
| DHLYX | 0.56% |
Portfolio turnover 45.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 99.64% |
| Cash & short-term | 5.68% |
These positions come to 105.33% of the fund's net assets. This counts only what the fund reported holding — the holdings disclosure covers assets, not liabilities such as borrowings — so it is not expected to reconcile to 100%.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Financials | 22.7% |
| Health Care | 18.4% |
| Industrials | 14.4% |
| Consumer Staples | 10.1% |
| 7 smaller | 34.3% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Portfolio growth profile
How much of the fund’s stock holdings are in fast-growing companies · as of 2026 Q2
Share of the fund’s equity (by value) in companies whose trailing five-year revenue — or net-income — growth ranks in the top 25% of U.S. public companies. Foreign and newly-listed holdings are excluded, so the figure covers only part of the book. From SEC filings — not investment advice. How we measure this.
Latest quarter
What changed since the fund's previous filing
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +10.39% | +34.64% | -15.76% | 11.18% | -9.67% | |
| +10.68% | +35.75% | +28.78% | 11.18% | -9.60% | |
| +10.80% | +36.23% | +29.57% | 11.19% | -9.59% |
These classes hold the same portfolio, so the 45.33pp spread over 5 years is the cost difference between them — roughly 9.07pp a year — not a difference in what they own.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| — | N/A | 5.33% | — | $153.55M | — |
| CL | COLGATE-PALMOLIVE COMPANYCL | 4.90% | $91.68 | $141.25M | 1.5M |
| BRK/B | BERKSHIRE HATHAWAY INCBRK/B | 4.73% | $500.39 | $136.28M | 272.3K |
| ABT | ABBOTT LABORATORIESABT | 4.37% | $90.74 | $125.82M | 1.4M |
| AON | AON PLCAON | 4.04% | $331.69 | $116.26M | 350.5K |
| AIG | AMERICAN INTERNATIONAL GROUP INCAIG | 3.80% | $74.53 | $109.42M | 1.5M |
| WM | WASTE MANAGEMENT INCWM | 3.38% | $222.88 | $97.46M | 437.3K |
| COP | CONOCOPHILLIPSCOP | 2.89% | $103.96 | $83.31M | 801.3K |
| COF | CAPITAL ONE FINANCIAL CORPCOF | 2.87% | $200.62 | $82.66M | 412.0K |
| MSFT | MICROSOFT CORPMSFT | 2.86% | $373.02 | $82.39M | 220.9K |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
Top 10 positions are 39.17% of net assets, top 25 72.86%, across 51 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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