Distributions

Fund distributions

Ordinary Income dividends are the result of portfolio income earned in excess of the Fund’s expenses. Short-term capital gains are the result of realized capital gains generated upon the disposition of the Fund’s portfolio securities that are held less than one year. Short-term capital gains are taxed as ordinary income. Long-term capital gains are the result of realized capital gains generated upon the disposition of the Fund’s portfolio securities that are held in excess of one year. Long-term capital gains are generally taxed at a lower rate than ordinary income. Diamond Hill does not offer tax advice. For tax advice specific to your individual situation, consult a tax advisor.

Diamond Hill Funds 2023 Year-To-Date Capital Gains

Realized Capital Loss Positions

The Funds below have accumulated realized capital losses* as of August 31, 2023 that may net against future gains. Based on calculations as of August 31, 2023 each Fund below will be able to realize gains, shown as a percent of fund level NAV, before future capital gain distributions will be required.

• Large Cap Concentrated Fund: 1.09%
• International Fund: 1.49%
• Core Bond Fund: 1.36%
• Short Duration Securitized Bond Fund: 1.13%

*The accumulated realized capital loss positions presented are estimates. These accumulated capital loss estimates do not consider all relevant tax adjustments such as post-30 day wash sales. These estimates are subject to change and can change by a significant amount.

2022 Income from U.S. Government Securities

Tax equalization

Learn how Diamond Hill Funds use tax equalization to help reduce year-end capital gain distributions to shareholders.

Diamond Hill Mutual Fund Tax Equalization