Diamond Hill Long Short Fund Class I

The Diamond Hill Long Short Fund Class I endeavors to achieve substantial long-term capital appreciation. It employs a long-short equity strategy, acquiring shares of U.S. companies (regardless of market capitalization) that the advisor believes are undervalued, while simultaneously short-selling U.S. equities (of any size) deemed to be overvalued. The advisor's fundamental approach centers on estimating a company's intrinsic worth independently of its current stock market price. Short-selling, a key element, is utilized when the fund anticipates a security's price will decline, involving the sale of borrowed shares with the intention of repurchasing them at a lower price at a later date.