Diamond Hill Capital Management

What Diamond Hill Capital Management does

Diamond Hill Capital Management, LLC is a Columbus, Ohio-based active investment management firm founded in 2000 and registered with the SEC under the Investment Advisers Act of 1940. The firm manages a multi-strategy platform spanning four asset classes — US Equity (Micro Cap through Large Cap Concentrated and Select), International Equity, Alternatives (Long-Short), and Fixed Income (Core Bond, Core Plus, Intermediate, Securitized Total Return, Short Duration Investment Grade, and Short Duration Securitized Bond) — applied through a consistent intrinsic value investment philosophy with a 5+ year temperament. Distribution is multi-channel: separate accounts to institutional clients, mutual funds distributed by Foreside Financial Services, Collective Investment Trusts (CITs) for qualified plans, and the actively managed Large Cap Concentrated ETF (DHLX) on public exchanges.

The firm's revenue model is asset-based advisory fees calculated as a percentage of assets under management across these vehicles, with no proprietary technology platform disclosed; investment decisions rely on a centralized team of CFA-credentialed portfolio managers and analysts applying fundamental cash-flow modeling. The fixed income platform differentiates through heavy securitized credit allocation (ABS, RMBS, CMBS), and the firm has earned third-party validation including a 2025 Morningstar top-performing small-value fund recognition. In December 2025, Diamond Hill Investment Group entered into a definitive agreement to be acquired by First Eagle Investments in an all-cash transaction valued at approximately $473 million (a 49% premium), expected to close in Q3 2026, with Diamond Hill to retain its existing brand, investment philosophy, and operating team within the larger First Eagle platform.

Name

Diamond Hill Capital Management

Legal name

Diamond Hill Capital Management, LLC

Website

https://diamond-hill.com

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

101–250 employees

Short description

Diamond Hill Capital Management is an SEC-registered active investment manager (founded 2000, Columbus, OH) applying intrinsic value strategies across US equity, international equity, fixed income, and alternatives via mutual funds, separate accounts, CITs, and an active ETF for institutional and individual investors.

Ownership category

akta.pro rank

Product category

Active Investment Management

NAICS

Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Large-Cap Equity (Active) (FSAAAIAA)

akta.pro secondary industries

Small-Cap Equity (Active) (FSAAAIAC), Discretionary Portfolio Management (Retail) (FSAAAAAH)

Keywords

• Active investment management
• Equity strategies
• Fixed income management
• Mutual fund management
• Separate account management

Headquarters

HQ city

Columbus

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Investment Advisory Fees: Diamond Hill earns investment advisory fees calculated as a percentage of assets under management across its mutual funds, separate accounts, CITs, and ETFs. The firm manages strategies across US equity, international equity, fixed income, and alternatives.

Distribution channels5 records

Marketing channels5 records

Core offering

Diamond Hill Capital Management is an active investment management firm that manages portfolios across four asset classes—US Equity, International Equity, Fixed Income, and Alternatives—applying a fundamental intrinsic value investment philosophy. The firm delivers strategies through multiple vehicle types including separately managed accounts for institutional clients, mutual funds, collective investment trusts (CITs), and active ETFs.

Product overview

Diamond Hill Capital Management is an active investment management boutique offering a multi-strategy platform across four key asset classes: US Equity, International Equity, Alternatives, and Fixed Income. The firm's US Equity strategies span market capitalizations from micro cap through large cap concentrated (Micro Cap, Small Cap, Small-Mid Cap, Mid Cap, Large Cap, Large Cap Concentrated, and Select), all grounded in an intrinsic value philosophy. The International Equity strategy targets developed and emerging markets. The Alternatives suite includes a Long-Short equity strategy and a Securitized Credit mutual fund. The Fixed Income platform — a key differentiator — features a heavy emphasis on securitized products (ABS, RMBS, CMBS) and includes the Core Bond, Core Plus Bond, Intermediate Bond, Securitized Total Return, Short Duration Investment Grade, and Short Duration Securitized Bond strategies. The firm also offers an Active ETF (Large Cap Concentrated) and Collective Investment Trusts (CITs). Notably, as of late 2025, Diamond Hill entered into a definitive agreement to be acquired by First Eagle Investments, expected to close in Q3 2026, with Diamond Hill to continue operating under its existing brand and investment philosophy.

Differentiator

Problem solved

Functional benefit

Products and services

• US Equity Strategies Long-term intrinsic value investment strategies across US equities, spanning micro cap, small cap, small-mid cap, mid cap, large cap, large cap concentrated, and select mandates, treating each share as a true ownership interest.
• International Equity Strategy International equity strategy targeting large- and mid-cap stocks in developed and emerging markets, benchmarked against the MSCI ACWI ex USA Index, holding 35–55 positions with a maximum position size of 7%.
• Long-Short Strategy Alternative equity strategy using long and short positions in large-cap US equities, with long exposure targeting $2.5B+ market cap and short exposure targeting $1.0B+ market cap; maximum short exposure 40%, gross exposure 140%, typical net long range 40%–75%.
• Core Bond Strategy Fixed income strategy investing exclusively in investment grade securities (AAA through BBB), maintaining average credit quality of AA/AA+, with average duration within +/- 10% of the Bloomberg US Aggregate Bond Index benchmark.
• Core Plus Bond Strategy Fixed income strategy extending beyond core investment grade to include high yield bonds, providing incremental yield while maintaining a high-quality bias.
• Intermediate Bond Strategy Fixed income strategy investing in investment grade securities with intermediate duration, benchmarked against the Bloomberg US Intermediate Aggregate Bond Index.
• Securitized Total Return Strategy Fixed income strategy focused on total return from the securitized sector, including agency and non-agency RMBS, CMBS, and ABS.
• Short Duration Investment Grade Strategy Fixed income strategy focusing on short-duration investment grade securities, targeting one-to-two year average duration with maximum three-year duration.
• Securitized Credit Fund Fixed income strategy with heavy emphasis on securitized products including asset-backed securities, residential mortgage-backed securities, and commercial mortgage-backed securities—areas not traditionally heavily allocated in fixed income portfolios.
• Short Duration Securitized Bond Fund Mutual fund (tickers: DHEAX, DHEIX, DHEYX) focusing on securitized bond investments with typical average portfolio duration of one to two years (maximum three), and may invest up to 15% of assets in below-investment grade securities. Total net assets of $5.4B as of the most recent reporting date.
• Large Cap Concentrated ETF Actively managed ETF investing in large-cap US equities with a concentrated portfolio of 20–23 holdings, maximum position size of 10%, and top 10 holdings typically representing more than 50% of net assets.
• Collective Investment Trusts (CITs) Collective investment trust vehicles available for qualified investors, offering access to Diamond Hill's investment strategies in a tax-advantaged wrapper.

Quantifiable outcome

• Diamond Hill Small Cap Fund returned 3.41% (net) in Q1 2026 vs. Russell 2000's 0.89%, and 11.84% in 2025 vs. Russell 2000's 12.81%.
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Victory Capital Holdings: Publicly traded multi-affiliate active asset manager offering US equity, fixed income, and multi-asset strategies through mutual funds, ETFs, CITs, and separate accounts — directly comparable multi-strategy active platform with similar distribution mix.
• Artisan Partners Asset Management: Publicly traded active asset manager with high-conviction equity and fixed income strategies across market caps and global regions — closely aligned active fundamental boutique model with comparable AUM scale.
• Manning & Napier Advisors: Mid-size US-based active asset manager with fundamental equity, fixed income, and multi-asset strategies distributed through mutual funds and separate accounts — comparable boutique active firm with similar size and Ohio-region roots.
• Calamos Asset Management: Privately held active asset manager offering US equity, international equity, convertible, and fixed income strategies across mutual funds, ETFs, and separate accounts — closely comparable multi-strategy active platform with similar distribution architecture.
• Affiliated Managers Group (AMG): Multi-affiliate holding company that owns independent active asset managers (equity, fixed income, alternatives) — directly comparable multi-boutique structure now being replicated by First Eagle's acquisition of Diamond Hill.

Emerging players

• Royce Investment Partners: Specialized active small-cap value manager offering mutual funds and separate accounts — directly comparable to Diamond Hill's award-winning Small Cap strategy and similar value-oriented fundamental approach.
• WisdomTree Investments: ETF-focused asset manager with actively managed equity, fixed income, and alternatives — comparable in offering an active ETF (DHLX) but with much larger ETF scale and product breadth.
• Cohen & Steers: Specialized active asset manager in real assets and income strategies with mutual fund, ETF, and SMA distribution — similar size and boutique active model with comparable specialty positioning.

Broad incumbents

• Federated Hermes: Large diversified active asset manager with US equity, international equity, fixed income (including securitized), and multi-asset strategies — broader active competitor with overlapping fixed income emphasis on securitized credit.
• Eaton Vance (Morgan Stanley Investment Management): Active asset manager with US equity, fixed income (including securitized/loan strategies), and alternatives distributed via mutual funds, ETFs, CITs, and separate accounts — overlapping product set with Diamond Hill, now scaled within Morgan Stanley IM.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/DiamondHillCM
• LinkedInlinkedin.com/company/diamond-hill-investments

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Diamond Hill Capital Management