Diamond Hill Small-Mid Cap Fund
DHMAX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 325 John H. Mcconnell Boulevard Columbus OH United States of America 43215
- IPO Date
- Jan 3, 2006
- CIK
- 0001032423
- Website
- diamond-hill.com
- Similar Companies
- Business
- Diamond Hill Small-Mid Cap Fund (DHMAX) is an actively managed open-end mutual fund that seeks long-term capital appreciation by investing primarily in U.S. equity securities of small- and mid-cap companies it deems undervalued. The fund, managed by Diamond Hill Capital Management, Inc., a registered investment adviser and subsidiary of Diamond Hill Investment Group, Inc. (NASDAQ: DHIL), follows an intrinsic value investment philosophy, treating each stock as a partial ownership interest in the underlying business, emphasizing a margin of safety, long-term temperament, and convergence of market price with intrinsic value over time. It typically holds 50-70 positions in companies with market capitalizations between $500 million and $10 billion (or the upper range of the Russell 2500 Index), with maximum position size of 7%, top 10 holdings exceeding 25% of net assets, maximum sector exposure of 35%, and maximum industry exposure of 20%; share classes include Investor (DHMAX, expense ratio 1.21%), Institutional (DHMIX), and Class Y (DHMYX, expense ratio 0.80%), with total net assets of approximately $906 million as of September 30, 2025. The fund's portfolio emphasizes sectors such as industrials (28.8%), financials (14.6%), and health care (10.5%), with top holdings including Red Rock Resorts, Inc. (5.1%), Mr. Cooper Group, Inc. (4.9%), WESCO International, Inc. (4.8%), Post Holdings, Inc. (3.9%), and Gates Industrial Corp. PLC (3.8%), alongside others like Huntington Ingalls Industries, Inc., Regal Rexnord Corp., CubeSmart, SS&C Technologies Holdings, Inc., and Ciena Corp.; portfolio turnover stands at 32% over the past year, active share at 96% relative to the Russell 2500 Index, and median market capitalization at $9.5 billion. Managed by Chris Welch, CFA, since December 30, 2005, with support from Kristen Sheffield, CFA, CIPM, the fund operates within Diamond Hill's broader U.S. equity strategies, distributed by Foreside Financial Services, LLC, and available to U.S. investors with minimum initial investments varying by share class (e.g., $2,500 for DHMAX). Diamond Hill Investment Group, headquartered at 325 John H. McConnell Blvd, Suite 200, Columbus, Ohio, oversees approximately $27 billion in assets under management across value-oriented strategies including large-cap, small-cap, long-short, global, and international equity. In a notable recent development, the fund reopened to new investors on October 5, 2023, after a seven-year closure since May 2016, amid net outflows of $955 million since 2018 that reduced assets from a peak of over $2.5 billion; this move followed underperformance relative to small- and mid-cap core/value peers and indexes, with unchanged Morningstar pillar ratings. The parent firm continues prudent capacity management across strategies and maintains alignment through significant portfolio manager investments and performance-based compensation over rolling five-year periods, with no major acquisitions, partnerships, or strategic shifts reported in 2024-2025.