DIAMOND HILL CAPITAL MANAGEMENT INC
"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.
13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.
We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 32 quarters, returned +0.9% per quarter — versus +2.7% per quarter from simply owning every 13F stock. It beat that baseline in only 34.4% of quarters (excess t = -1.40, not statistically significant). Its filings tell you what it bought — not what you should buy.
Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)
Top 20 holdings of 187 · 2026 Q1
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| AIG | $645M | | TRIM |
| BRK/B | $610M | | TRIM |
| ABT | $552M | | ADD |
| AON | $480M | | TRIM |
| CL | $461M | | TRIM |
| FANG | $397M | | TRIM |
| TXN | $397M | | TRIM |
| COP | $385M | | TRIM |
| MSFT | $379M | | ADD |
| COF | $368M | | TRIM |
| WM | $363M | | TRIM |
| ZTS | $346M | | TRIM |
| CRM | $336M | | ADD |
| SBAC | $333M | | TRIM |
| DIS | $307M | | ADD |
| EXR | $269M | | TRIM |
| EQH | $267M | | ADD |
| ADBE | $261M | | ADD |
| BAC | $251M | | TRIM |
| UNP | $251M | | TRIM |
QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.
New positions in 2026 Q1
Method & Limitations
Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry 47 days after quarter-end — the first day the public could act on the filing. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.