DHLSX

About DHLSX

Diamond Hill Long-Short Fund Class I is an actively managed mutual fund in the alternatives category that pursues long-term capital appreciation through a research-driven long/short equity approach. The strategy invests long in U.S. companies the adviser deems undervalued relative to intrinsic value, emphasizing durable competitive advantages, prudent balance sheets, and owner-oriented management, while shorting businesses considered overvalued or structurally weaker. The portfolio is typically long-biased, seeking long positions that outperform the Russell 1000 Index and short positions that underperform, reflecting a philosophy that market price and intrinsic value converge over time. Guidelines indicate diversified exposure across market capitalizations with defined ranges for long and short allocations and a cap on gross market exposure, helping manage risk and market sensitivity. This fund serves investors looking to complement core equity holdings with a differentiated return stream and potential downside mitigation via short positions, grounded in bottom-up fundamental analysis and an intrinsic value discipline. It occupies a role within alternative strategies as a flexible equity allocation designed to balance opportunity capture with risk control through active security selection on both sides of the book.