Diamond Hill Capital Small-Mid Cap Fund’s Q2 2025 Investor Letter

Diamond Hill Capital, an investment management company, released its “Small-Mid Cap Fund” second-quarter 2025 investor letter. In Q2, the market surged uniformly for the rest of the quarter following a sharp decline in April due to President Trump’s “Liberation Day” tariffs announcement. The portfolio returned 5.60% (gross) and 5.37% (net) compared to an 8.59% return for the Russell 2500 Index. For more information on the fund’s top picks in 2025, please check its top five holdings.

A copy of Diamond Hill Capital Small-Mid Cap Fund’s Q2 2025 investor letter can be downloaded here.