Schedule of Investments Diamond Hill International Fund June 30, 2021

Net Assets: $ 20,879,087

% of Net Ticker Security Description Shares Market Value Assets DGE LN Diageo plc 18,884 $905,056 4.33% UNA NA Unilever plc 13,445 788,136 3.77% CHKP Check Point Software Technologies Ltd. 6,459 750,084 3.59% RCI Rogers Communications, Inc. - Class B 13,950 741,303 3.55% BT/A LN BT Group plc 263,923 709,233 3.40% ABI BB Anheuser-Busch InBev SA/NV 9,549 688,497 3.30% 9988 HK Alibaba Group Holding Ltd. 22,000 623,782 2.99% HWDN LN Howden Joinery Group plc 47,239 534,209 2.56% ROG LN Roche Holdings AG 1,371 516,634 2.47% 4503 JP Astellas Pharma, Inc. 29,500 514,133 2.46% CFR SW Compagnie Financiere Richemont SA - Class A 4,160 504,300 2.42% BAER SW Julius Baer Group Ltd. 7,635 498,656 2.39% NVS Novartis AG 5,451 497,349 2.38% 005930 KS Samsung Electronics Co. Ltd. 6,804 485,335 2.32% SAF FP Safran SA 3,453 479,302 2.30% DIS Walt Disney Co. (The) 2,598 456,650 2.19% ASSAB Assa Abloy AB - Class B 14,435 435,205 2.08% KBANK/F Kasikornbank plc Foreign 116,200 430,644 2.06% BEZ LN Beazley plc 93,252 429,261 2.06% VIV FP Vivendi SE 12,726 427,658 2.05% FB Facebook, Inc. - Class A 1,201 417,600 2.00% UHR VX Swatch Group AG (The) 1,201 412,432 1.98% TSM Taiwan Semiconductor Manufacturing Co. Ltd. 3,414 410,226 1.97% FEMSA Fomento Economico Mexicano SAB de CV 47,235 399,517 1.91% BBVA SM Banco Bilbao Vizcaya Argentaria SA 63,082 391,366 1.87% PRX LN Prosus NV 3,992 391,155 1.87% IHG LN InterContinental Hotels Group plc 5,719 381,164 1.83% FFH CN Fairfax Financial Holdings Ltd. 868 380,597 1.82% TSCO LN Tesco plc 122,877 379,579 1.82% EL FP EssilorLuxottica SA 1,928 356,228 1.71% ZNGA Zynga, Inc. - Class A 32,846 349,153 1.67% ASHM LN Ashmore Group plc 63,782 339,924 1.63% 700 HK Tencent Holdings Ltd. 4,200 316,227 1.51% BNZL LN Bunzl plc 8,945 295,903 1.42% HDB HDFC Bank Ltd. 3,852 281,658 1.35% MC FP LVMH Moet Hennessy Louis Vuitton SE 354 278,526 1.33% NTDOY Nintendo Co. Ltd. 3,725 270,174 1.29% DOB IM doValue S.p.A. 23,388 257,551 1.23% GSK LN GlaxoSmithKline plc 13,019 255,934 1.23% CPG LN Compass Group plc 12,100 254,914 1.22% BIDU Baidu, Inc. 1,189 242,437 1.16% AUPH Aurinia Pharmaceuticals, Inc. 18,469 239,358 1.15% 1448 HK Fu Shou Yuan International Group Ltd. 237,000 231,591 1.11% SHUR BB Shurgard Self Storage SA 4,750 229,534 1.10% BAP Credicorp Ltd. 1,695 205,281 0.98% SGE LN Sage Group plc (The) 20,825 197,254 0.94% BB BlackBerry Ltd. 15,011 183,434 0.88% FPE GR Fuchs Petrolub SE 4,705 182,790 0.88% 4507 JP Shionogi & Co. Ltd. 2,000 104,241 0.50% CFRWT Compagnie Financiere Richemont SA 8,320 5,575 0.03%

Schedule of Investments (continued) Diamond Hill International Fund June 30, 2021

Money Market Funds 4.50% State Street Institutional US Government Money Market Fund - Premier Class 940,059 $940,059 4.50%

Holdings are unaudited and are current as of the date of this report, may not reflect holdings beyond this date, and do not include collateral received for securities loaned or receivable/payable for securities transactions. The "unaudited" mutual fund holdings list is to be used for reporting purposes only, and is disclosed at www.diamond-hill.com in conjunction with the Diamond Hill Funds Portfolio Holdings Disclosure Policy. This list is for the general information of Fund shareholders and is not intended as an offer of a security. For certified holdings, please refer to the most recent annual report or semi-annual report.

Schedule of Investments Diamond Hill International Fund May 31, 2021

Net Assets: $ 20,750,713

% of Net Ticker Security Description Shares Market Value Assets DGE LN Diageo plc 18,884 $910,584 4.39% UNA NA Unilever plc 13,445 806,264 3.89% DIS Walt Disney Co. (The) 4,087 730,143 3.52% ABI BB Anheuser-Busch InBev SA/NV 9,549 723,060 3.48% BT/A LN BT Group plc 263,923 653,241 3.15% GOOGL Alphabet, Inc. - Class A 260 612,781 2.95% HWDN LN Howden Joinery Group plc 51,862 585,784 2.82% BAER SW Julius Baer Group Ltd. 8,383 569,451 2.74% RCI Rogers Communications, Inc. - Class B 10,950 565,567 2.73% CHKP Check Point Software Technologies Ltd. 4,664 545,595 2.63% SAF FP Safran SA 3,453 522,091 2.52% CFR SW Compagnie Financiere Richemont SA - Class A 4,160 503,833 2.43% 005930 KS Samsung Electronics Co. Ltd. 6,804 488,954 2.36% ROG LN Roche Holdings AG 1,371 479,814 2.31% VIV FP Vivendi SE 12,726 463,442 2.23% ASSAB Assa Abloy AB - Class B 14,435 444,322 2.14% UHR VX Swatch Group AG (The) 1,201 434,651 2.09% FFH CN Fairfax Financial Holdings Ltd. 868 407,664 1.96% TSM Taiwan Semiconductor Manufacturing Co. Ltd. 3,414 400,667 1.93% IHG LN InterContinental Hotels Group plc 5,719 398,207 1.92% FB Facebook, Inc. - Class A 1,201 394,805 1.90% BBVA SM Banco Bilbao Vizcaya Argentaria SA 63,082 393,971 1.90% KBANK-R Kasikornbank pcl - NVDR 102,600 392,215 1.89% 9988 HK Alibaba Group Holding Ltd. 14,500 387,813 1.87% FEMSA Fomento Economico Mexicano SAB de CV 47,235 387,255 1.87% NVS Novartis AG 4,316 381,448 1.84% 4503 JP Astellas Pharma, Inc. 23,600 376,541 1.81% PRX LN Prosus NV 3,457 358,132 1.73% ASHM LN Ashmore Group plc 63,782 357,833 1.72% ZNGA Zynga, Inc. - Class A 32,846 356,051 1.72% BEZ LN Beazley plc 81,977 349,664 1.69% EL FP EssilorLuxottica SA 1,928 334,732 1.61% BB BlackBerry Ltd. 33,217 334,495 1.61% 700 HK Tencent Holdings Ltd. 4,200 328,363 1.58% HDB HDFC Bank Ltd. 3,852 294,794 1.42% BNZL LN Bunzl plc 8,945 289,707 1.40% NTDOY Nintendo Co. Ltd. 3,725 288,017 1.39% MC FP LVMH Moet Hennessy Louis Vuitton SE 354 283,545 1.37% CPG LN Compass Group plc 12,100 275,805 1.33% AUPH Aurinia Pharmaceuticals, Inc. 18,469 268,170 1.29% GSK LN GlaxoSmithKline plc 13,019 248,303 1.20% SHUR BB Shurgard Self Storage SA 4,750 241,568 1.16% BIDU Baidu, Inc. 1,189 233,365 1.12% DOB IM doValue S.p.A. 18,611 231,848 1.12% FPE GR Fuchs Petrolub SE 4,705 198,454 0.96% 1448 HK Fu Shou Yuan International Group Ltd. 184,000 197,388 0.95% SGE LN Sage Group plc (The) 20,825 193,643 0.93% TSCO LN Tesco plc 55,175 174,630 0.84% BAP Credicorp Ltd. 1,244 171,013 0.82% 4507 JP Shionogi & Co. Ltd. 2,000 102,187 0.49%

Schedule of Investments (continued) Diamond Hill International Fund May 31, 2021

% of Net Ticker Security Description Shares Market Value Assets CFRWT Compagnie Financiere Richemont SA 8,320 $5,364 0.03%

Money Market Funds 2.47% State Street Institutional US Government Money Market Fund - Premier Class 512,251 $512,251 2.47%

Schedule of Investments Diamond Hill International Fund April 30, 2021

Net Assets: $ 19,863,547

% of Net Ticker Security Description Shares Market Value Assets DGE LN Diageo plc 18,884 $847,714 4.27% UNA NA Unilever plc 13,445 784,857 3.95% DIS Walt Disney Co. (The) 4,087 760,264 3.83% ABI BB Anheuser-Busch InBev SA/NV 9,549 676,196 3.40% GOOGL Alphabet, Inc. - Class A 260 611,910 3.08% BT/A LN BT Group plc 263,923 601,983 3.03% HWDN LN Howden Joinery Group plc 51,862 579,366 2.92% CHKP Check Point Software Technologies Ltd. 4,664 544,802 2.74% RCI Rogers Communications, Inc. - Class B 10,950 539,068 2.71% BAER SW Julius Baer Group Ltd. 8,383 527,587 2.66% SAF FP Safran SA 3,453 515,423 2.59% 005930 KS Samsung Electronics Co. Ltd. 6,804 493,376 2.48% ROG LN Roche Holdings AG 1,371 447,145 2.25% VIV FP Vivendi SE 12,726 443,514 2.23% KBANK-R Kasikornbank pcl - NVDR 102,600 433,656 2.18% CFR SW Compagnie Financiere Richemont SA - Class A 4,160 426,913 2.15% 9988 HK Alibaba Group Holding Ltd. 14,500 419,159 2.11% IHG LN InterContinental Hotels Group plc 5,719 406,402 2.05% TSM Taiwan Semiconductor Manufacturing Co. Ltd. 3,414 398,550 2.01% FFH CN Fairfax Financial Holdings Ltd. 868 396,540 2.00% FB Facebook, Inc. - Class A 1,201 390,421 1.97% BEZ LN Beazley plc 81,977 383,215 1.93% PRX LN Prosus NV 3,457 375,092 1.89% UHR VX Swatch Group AG (The) 1,201 368,102 1.85% NVS Novartis AG 4,316 367,896 1.85% FEMSA Fomento Economico Mexicano SAB de CV 47,235 366,625 1.85% 4503 JP Astellas Pharma, Inc. 23,600 355,212 1.79% ASSAB Assa Abloy AB - Class B 12,415 353,939 1.78% BBVA SM Banco Bilbao Vizcaya Argentaria SA 63,082 353,137 1.78% ASHM LN Ashmore Group plc 63,782 352,538 1.77% 700 HK Tencent Holdings Ltd. 4,200 335,040 1.69% EL FP EssilorLuxottica SA 1,928 320,809 1.62% ZNGA Zynga, Inc. - Class A 27,996 302,917 1.52% BB BlackBerry Ltd. 33,217 293,306 1.48% BNZL LN Bunzl plc 8,945 287,602 1.45% HDB HDFC Bank Ltd. 3,852 270,719 1.36% MC FP LVMH Moet Hennessy Louis Vuitton SE 354 266,613 1.34% CPG LN Compass Group plc 12,100 263,222 1.33% BIDU Baidu, Inc. 1,189 250,082 1.26% GSK LN GlaxoSmithKline plc 13,019 240,584 1.21% DOB IM doValue S.p.A. 18,611 230,722 1.16% ASURB MX Grupo Aeroportuario del Sureste SAB de CV 13,174 223,093 1.12% SHUR BB Shurgard Self Storage SA 4,750 220,915 1.11% NTDOY Nintendo Co. Ltd. 2,995 215,310 1.08% FPE GR Fuchs Petrolub SE 4,705 203,831 1.03% 1448 HK Fu Shou Yuan International Group Ltd. 184,000 198,904 1.00% SGE LN Sage Group plc (The) 20,825 183,478 0.92% TSCO LN Tesco plc 55,175 168,422 0.85% BAP Credicorp Ltd. 1,244 148,534 0.75% AUPH Aurinia Pharmaceuticals, Inc. 9,495 125,999 0.63%

Schedule of Investments (continued) Diamond Hill International Fund April 30, 2021

% of Net Ticker Security Description Shares Market Value Assets LIVN LivaNova plc 1,394 $118,309 0.60% 4507 JP Shionogi & Co. Ltd. 2,000 105,440 0.53% CFRWT Compagnie Financiere Richemont SA 8,320 3,553 0.02%

Money Market Funds 1.12% State Street Institutional US Government Money Market Fund - Premier Class 221,967 $221,967 1.12%

Schedule of Investments Diamond Hill International Fund March 31, 2021

Net Assets: $ 19,116,481

% of Net Ticker Security Description Shares Market Value Assets DGE LN Diageo plc 18,884 $775,723 4.06% DIS Walt Disney Co. (The) 4,087 754,133 3.94% UNA NA Unilever N.V. 13,445 750,410 3.93% ABI BB Anheuser-Busch InBev SA/NV 9,549 600,089 3.14% BT/A LN BT Group plc 263,923 562,987 2.95% GOOGL Alphabet, Inc. - Class A 260 536,255 2.81% BAER SW Julius Baer Group Ltd. 8,383 535,765 2.80% HWDN LN Howden Joinery Group plc 51,862 524,006 2.74% CHKP Check Point Software Technologies Ltd. 4,664 522,228 2.73% RCI Rogers Communications, Inc. - Class B 10,950 504,795 2.64% 005930K Samsung Electronics Co. Ltd. 6,804 494,093 2.58% KBANK-R Kasikornbank pcl - NVDR 102,600 477,386 2.50% SAF FP Safran SA 3,453 469,556 2.46% HDB HDFC Bank Ltd. 5,996 465,829 2.44% ROG LN Roche Holdings AG 1,371 444,178 2.32% VIV FP Vivendi SA 12,726 417,583 2.18% 9988 HK Alibaba.com Ltd. 14,500 411,993 2.16% TSM Taiwan Semiconductor Manufacturing Co. Ltd. 3,414 403,808 2.11% CFR SW Compagnie Financiere Richemont SA - Class A 4,160 399,504 2.09% BEZ LN Beazley plc 81,977 397,313 2.08% IHG LN InterContinental Hotels Group plc 5,719 393,262 2.06% PRX LN Prosus NV 3,457 384,570 2.01% FFH CN Fairfax Financial Holdings Ltd. 868 378,846 1.98% NVS Novartis AG 4,316 368,932 1.93% 4503 JP Astellas Pharma, Inc. 23,600 363,528 1.90% ASSAB ASSA ABLOY AB Class B - Class B 12,415 357,325 1.87% FEMSA Fomento Economico Mexicano SAB de CV 47,235 355,917 1.86% FB Facebook, Inc. - Class A 1,201 353,731 1.85% UHR VX Swatch Group AG (The) 1,201 345,854 1.81% ASHM LN Ashmore Group plc 63,782 343,957 1.80% 700 HK Tencent Holdings Ltd. 4,200 335,200 1.75% BBVA SM Banco Bilbao Vizcaya Argentaria SA 63,082 328,627 1.72% LIVN LivaNova plc 4,332 319,398 1.67% EL FP EssilorLuxottica SA 1,928 313,986 1.64% BNZL LN Bunzl plc 8,945 286,285 1.50% BB BlackBerry Ltd. 33,217 280,019 1.46% BIDU Baidu, Inc. 1,189 258,667 1.35% CPG LN Compass Group plc 12,100 244,447 1.28% MC FP LVMH Moet Hennessy Louis Vuitton SE 354 236,381 1.24% ASURB M Grupo Aeroportuario del Sureste SAB de CV - Class B 13,174 233,985 1.22% GSK LN GlaxoSmithKline plc 13,019 230,455 1.21% DOB IM doValue S.p.A. 18,611 226,752 1.19% SHUR BB Shurgard Self Storage SA 4,750 216,272 1.13% NTDOY Nintendo Co. Ltd. 2,995 212,046 1.11% FPE GR Fuchs Petrolub SE 4,705 189,330 0.99% 1448 HK Fu Shou Yuan International Group Ltd. 184,000 189,205 0.99% SGE LN Sage Group plc - Class A 20,825 175,920 0.92% TSCO LN Tesco plc 55,175 174,187 0.91% AUPH Aurinia Pharmaceuticals, Inc. 9,495 123,293 0.65% 4507 JP Shionogi & Co. Ltd. 2,000 107,966 0.56%

Schedule of Investments (continued) Diamond Hill International Fund March 31, 2021

% of Net Ticker Security Description Shares Market Value Assets CFRWT Compagnie Financiere Richemont SA 8,320 $3,169 0.02%

Money Market Funds 1.46% State Street Institutional US Government Money Market Fund - Premier Class 279,042 $279,042 1.46%

Schedule of Investments Diamond Hill International Fund February 28, 2021

Net Assets: $ 18,336,080

% of Net Ticker Security Description Shares Market Value Assets DIS Walt Disney Co. (The) 4,087 $772,606 4.21% DGE LN Diageo plc 18,884 742,741 4.05% UNA NA Unilever N.V. 12,560 652,868 3.56% HDB HDFC Bank Ltd. 7,166 567,117 3.09% HWDN LN Howden Joinery Group plc 56,541 550,088 3.00% ABI BB Anheuser-Busch InBev SA/NV 9,549 549,822 3.00% GOOGL Alphabet, Inc. - Class A 260 525,697 2.87% BAER SW Julius Baer Group Ltd. 8,383 515,996 2.81% CHKP Check Point Software Technologies Ltd. 4,664 514,159 2.80% 005930 KS Samsung Electronics Co. Ltd. 6,804 496,853 2.71% KBANK-R Kasikornbank pcl - NVDR 102,600 468,092 2.55% BT/A LN BT Group plc 263,923 456,748 2.49% VIV FP Vivendi SA 12,726 440,746 2.40% RCI Rogers Communications, Inc. - Class B 9,951 430,381 2.35% TSM Taiwan Semiconductor Manufacturing Co. Ltd. 3,414 429,959 2.35% SAF FP Safran SA 3,123 425,966 2.32% PRX LN Prosus NV 3,457 412,385 2.25% IHG LN InterContinental Hotels Group plc 5,719 401,826 2.19% CFR SW Compagnie Financiere Richemont SA - Class A 4,160 400,860 2.19% BEZ LN Beazley plc 81,977 395,925 2.16% NVS Novartis AG 4,316 370,788 2.02% 700 HK Tencent Holdings Ltd. 4,200 365,386 1.99% ROG LN Roche Holdings AG 1,082 354,956 1.94% FFH CN Fairfax Financial Holdings Ltd. 868 353,530 1.93% BBVA SM Banco Bilbao Vizcaya Argentaria SA 63,082 351,007 1.91% ASURB MX Grupo Aeroportuario del Sureste SAB de CV - Class B 18,448 343,847 1.88% LIVN LivaNova plc 4,332 335,903 1.83% 4503 JP Astellas Pharma, Inc. 20,600 325,738 1.78% FEMSA Fomento Economico Mexicano SAB de CV 47,235 322,185 1.76% ASHM LN Ashmore Group plc 55,585 320,861 1.75% EL FP EssilorLuxottica SA 1,928 314,714 1.72% UHR VX Swatch Group AG (The) 1,035 308,915 1.68% 9988 HK Alibaba.com Ltd. 9,700 291,476 1.59% BIDU Baidu, Inc. 944 267,586 1.46% FB Facebook, Inc. - Class A 1,025 264,060 1.44% CPG LN Compass Group plc 12,100 245,670 1.34% BNZL LN Bunzl plc 7,460 232,865 1.27% SHUR BB Shurgard Self Storage SA 4,750 225,986 1.23% MC FP LVMH Moet Hennessy Louis Vuitton SE 354 224,439 1.22% GSK LN GlaxoSmithKline plc 13,019 217,193 1.18% FPE GR Fuchs Petrolub SE 4,705 204,332 1.11% 1448 HK Fu Shou Yuan International Group Ltd. 184,000 184,626 1.01% DOB IM doValue S.p.A. 14,751 182,167 0.99% NTDOY Nintendo Co. Ltd. 2,320 178,918 0.98% BB BlackBerry Ltd. 17,290 173,765 0.95% TSCO LN Tesco plc 55,175 173,390 0.95% SGE LN Sage Group plc - Class A 20,825 162,697 0.89% 4507 JP Shionogi & Co. Ltd. 2,000 102,201 0.56% AUPH Aurinia Pharmaceuticals, Inc. 5,745 80,430 0.44%

Schedule of Investments (continued) Diamond Hill International Fund February 28, 2021

Money Market Funds 3.28% State Street Institutional US Government Money Market Fund - Premier Class 601,531 $601,531 3.28%

Schedule of Investments Diamond Hill International Fund January 31, 2021

Net Assets: $ 17,747,497

% of Net Ticker Security Description Shares Market Value Assets DGE LN Diageo plc 18,884 $757,867 4.27% DIS Walt Disney Co. (The) 4,087 687,311 3.87% UNA NA Unilever N.V. 11,694 679,785 3.83% ABI BB Anheuser-Busch InBev SA/NV 9,549 599,437 3.38% HWDN LN Howden Joinery Group plc 56,541 518,233 2.92% HDB HDFC Bank Ltd. 7,166 516,669 2.91% BAER SW Julius Baer Group Ltd. 8,383 507,193 2.86% CHKP Check Point Software Technologies Ltd. 3,919 500,613 2.82% 005930 KS Samsung Electronics Co. Ltd. 6,804 497,473 2.80% GOOGL Alphabet, Inc. - Class A 260 475,114 2.68% 700 HK Tencent Holdings Ltd. 5,100 454,430 2.56% BT/A LN BT Group plc 263,923 452,379 2.55% KBANK-R Kasikornbank pcl - NVDR 102,600 433,364 2.44% TSM Taiwan Semiconductor Manufacturing Co. Ltd. 3,414 414,869 2.34% RCI Rogers Communications, Inc. - Class B 8,896 401,032 2.26% VIV FP Vivendi SA 12,726 391,065 2.20% NVS Novartis AG 4,316 390,468 2.20% CFR SW Compagnie Financiere Richemont SA - Class A 4,160 386,380 2.18% PRX LN Prosus NV 3,067 358,333 2.02% IHG LN InterContinental Hotels Group plc 5,719 352,205 1.98% BEZ LN Beazley plc 81,977 348,793 1.97% ASHM LN Ashmore Group plc 55,585 342,365 1.93% 4503 JP Astellas Pharma, Inc. 20,600 334,367 1.88% ROG LN Roche Holdings AG 947 326,806 1.84% FFH CN Fairfax Financial Holdings Ltd. 868 314,820 1.77% SAF FP Safran SA 2,428 305,229 1.72% ASURB MX Grupo Aeroportuario del Sureste SAB de CV - Class B 18,448 290,155 1.64% BBVA SM Banco Bilbao Vizcaya Argentaria SA 63,082 287,835 1.62% FEMSA Fomento Economico Mexicano SAB de CV 40,473 275,406 1.55% EL FP EssilorLuxottica SA 1,928 272,740 1.54% LIVN LivaNova plc 4,332 272,483 1.54% FB Facebook, Inc. - Class A 1,025 264,788 1.49% 9988 HK Alibaba.com Ltd. 8,200 260,225 1.47% BIDU Baidu, Inc. 1,078 253,352 1.43% UHR VX Swatch Group AG (The) 875 252,034 1.42% BB BlackBerry Ltd. 17,290 243,789 1.37% GSK LN GlaxoSmithKline plc 13,019 241,693 1.36% TSCO LN Tesco plc 69,889 228,622 1.29% MC FP LVMH Moet Hennessy Louis Vuitton SE 354 214,034 1.21% FPE GR Fuchs Petrolub SE 4,705 209,954 1.18% SHUR BB Shurgard Self Storage SA 4,750 209,071 1.18% BNZL LN Bunzl plc 5,990 192,208 1.08% DOB IM doValue S.p.A. 14,751 177,749 1.00% 1448 HK Fu Shou Yuan International Group Ltd. 184,000 175,051 0.99% CPG LN Compass Group plc 9,715 173,474 0.98% SGE LN Sage Group plc - Class A 20,825 167,623 0.94% 3382 JP Seven & i Holdings Co. Ltd. 4,200 160,384 0.90% NTDOY Nintendo Co. Ltd. 1,685 121,775 0.69% 4507 JP Shionogi & Co. Ltd. 2,000 108,576 0.61%

Schedule of Investments (continued) Diamond Hill International Fund January 31, 2021

Money Market Funds 4.76% State Street Institutional US Government Money Market Fund - Premier Class 844,908 $844,908 4.76%

Schedule of Investments Diamond Hill International Fund December 31, 2020

Net Assets: $ 16,867,786

% of Net Ticker Security Description Shares Market Value Assets ABI BB Anheuser-Busch InBev SA/NV 9,549 $666,174 3.95% DIS Walt Disney Co. (The) 3,562 645,363 3.83% DGE LN Diageo plc 15,462 611,822 3.63% 005930 KS Samsung Electronics Co. Ltd. 7,936 591,868 3.51% UNA NA Unilever N.V. 9,418 570,246 3.38% HWDN LN Howden Joinery Group plc 56,541 532,648 3.16% BAER SW Julius Baer Group Ltd. 9,087 523,510 3.10% CHKP Check Point Software Technologies Ltd. 3,919 520,874 3.09% HDB HDFC Bank Ltd. 7,166 517,815 3.07% BT/A LN BT Group plc 263,923 475,718 2.82% GOOGL Alphabet, Inc. - Class A 260 455,686 2.70% VIV FP Vivendi SA 12,726 410,453 2.43% KBANK-R Kasikornbank pcl - NVDR 102,600 386,385 2.29% CFR SW Compagnie Financiere Richemont SA 4,160 375,819 2.23% TSM Taiwan Semiconductor Manufacturing Co. Ltd. 3,414 372,263 2.21% IHG LN InterContinental Hotels Group plc 5,719 370,683 2.20% 700 HK Tencent Holdings Ltd. 5,100 366,963 2.18% BIDU Baidu, Inc. 1,676 362,418 2.15% NVS Novartis AG 3,831 361,761 2.14% BEZ LN Beazley plc 71,577 356,887 2.12% 3382 JP Seven & i Holdings Co. Ltd. 9,900 350,555 2.08% ASURB MX Grupo Aeroportuario del Sureste SAB de CV - Class B 20,937 347,234 2.06% SAF FP Safran SA 2,428 344,115 2.04% PRX LN Prosus NV 3,067 331,157 1.96% ROG LN Roche Holdings AG 947 329,835 1.95% ASHM LN Ashmore Group plc 55,585 328,233 1.95% RCI Rogers Communications, Inc. - Class B 7,031 327,574 1.94% 4503 JP Astellas Pharma, Inc. 20,600 318,956 1.89% FEMSA Fomento Economico Mexicano SAB de CV 40,473 307,193 1.82% EL FP EssilorLuxottica SA 1,928 300,436 1.78% FFH CN Fairfax Financial Holdings Ltd. 868 295,957 1.75% LIVN LivaNova plc 4,332 286,822 1.70% FB Facebook, Inc. - Class A 1,025 279,989 1.66% BBVA SM Banco Bilbao Vizcaya Argentaria SA 53,339 264,369 1.57% 9988 HK Alibaba.com Ltd. 8,200 238,492 1.41% GSK LN GlaxoSmithKline plc 13,019 238,225 1.41% UHR VX Swatch Group AG (The) 875 237,860 1.41% MC FP LVMH Moet Hennessy Louis Vuitton SE 354 221,595 1.31% TSCO LN Tesco plc 69,889 220,557 1.31% FPE GR Fuchs Petrolub SE 4,705 217,269 1.29% SHUR BB Shurgard Self Storage SA 4,750 205,731 1.22% BNZL LN Bunzl plc 5,990 199,997 1.19% CPG LN Compass Group plc 9,715 181,201 1.07% SGE LN Sage Group plc 20,825 165,358 0.98% BB BlackBerry Ltd. 22,910 151,893 0.90% BME LN B&M European Value Retail SA 20,701 145,732 0.86% 4507 JP Shionogi & Company Ltd. 2,000 109,340 0.65%

Money Market Funds 2.36% State Street Institutional US Government Money Market - Premier Class 397,932 $397,932 2.36%

Schedule of Investments (continued) Diamond Hill International Fund December 31, 2020

Schedule of Investments Diamond Hill International Fund November 30, 2020

Net Assets: $ 15,642,683

% of Net Ticker Security Description Shares Market Value Assets ABI BB Anheuser-Busch InBev SA/NV 9,549 $636,744 4.07% DGE LN Diageo plc 15,462 595,053 3.80% BAER SW Julius Baer Group Ltd. 9,809 565,361 3.61% UNA NA Unilever N.V. 8,713 528,332 3.38% DIS Walt Disney Co. (The) 3,562 527,212 3.37% HDB HDFC Bank Ltd. 7,166 494,454 3.16% 005930 KS Samsung Electronics Co. Ltd. 7,936 477,426 3.05% HWDN LN Howden Joinery Group plc 56,541 473,079 3.02% CHKP Check Point Software Technologies Ltd. 3,919 461,188 2.95% GOOGL Alphabet, Inc. - Class A 260 456,144 2.92% VIV FP Vivendi SA 12,726 381,610 2.44% BT/A LN BT Group plc 241,738 374,081 2.39% KBANK-R Kasikornbank pcl - NVDR 102,600 371,928 2.38% 700 HK Tencent Holdings Ltd. 5,100 371,777 2.38% SAF FP Safran SA 2,428 354,036 2.26% ASURB MX Grupo Aeroportuario del Sureste SAB de CV - Class B 23,527 350,446 2.24% NVS Novartis AG 3,831 347,970 2.22% CFR SW Compagnie Financiere Richemont SA 4,160 347,442 2.22% SCR FP SCOR SE 9,958 338,904 2.17% RCI Rogers Communications, Inc. - Class B 7,031 331,301 2.12% TSM Taiwan Semiconductor Manufacturing Co. Ltd. 3,414 331,226 2.12% 3382 JP Seven & i Holdings Co. Ltd. 9,900 312,233 2.00% IHG LN InterContinental Hotels Group plc 5,049 311,414 1.99% ROG LN Roche Holdings AG 947 311,012 1.99% ASHM LN Ashmore Group plc 55,585 310,944 1.99% BEZ LN Beazley plc 62,837 302,426 1.93% FFH CN Fairfax Financial Holdings Ltd. 868 297,676 1.90% PRX LN Prosus NV 2,707 293,515 1.88% FEMSA Fomento Economico Mexicano SAB de C.V. 40,473 292,322 1.87% FB Facebook, Inc. - Class A 1,025 283,894 1.82% EL FP EssilorLuxottica SA 1,928 278,782 1.78% 4503 JP Astellas Pharma, Inc. 17,800 253,540 1.62% GSK LN GlaxoSmithKline plc 13,019 236,224 1.51% BIDU Baidu, Inc. 1,676 232,947 1.49% LIVN LivaNova plc 4,332 228,946 1.46% UHR VX Swatch Group AG (The) 875 215,484 1.38% FPE GR Fuchs Petrolub SE 4,705 213,867 1.37% TSCO LN Tesco plc 69,889 210,300 1.34% BBVA SM Banco Bilbao Vizcaya Argentaria SA 44,879 207,872 1.33% MC FP LVMH Moet Hennessy Louis Vuitton SE 354 203,391 1.30% SHUR BB Shurgard Self Storage SA 4,750 201,192 1.29% 9988 HK Alibaba Group Holding Ltd. 5,800 190,539 1.22% BNZL LN Bunzl plc 5,990 186,514 1.19% CPG LN Compass Group plc 9,715 170,893 1.09% BME LN B&M European Value Retail SA 20,701 130,847 0.84% 4507 JP Shionogi & Company Ltd. 2,000 107,057 0.68%

Money Market Funds 3.07% State Street Institutional US Government Money Market - Premier Class 479,921 $479,921 3.07%

Schedule of Investments (continued) Diamond Hill International Fund November 30, 2020

Schedule of Investments Diamond Hill International Fund October 31, 2020

Net Assets: $ 13,347,699

% of Net Ticker Security Description Shares Market Value Assets DGE LN Diageo plc 15,462 $499,701 3.74% ABI BB Anheuser-Busch InBev SA/NV 9,549 494,007 3.70% HWDN LN Howden Joinery Group plc 56,541 466,796 3.50% UNA NA Unilever NV 8,041 453,368 3.40% CHKP Check Point Software Technologies Ltd. 3,919 445,042 3.33% BAER SW Julius Baer Group Ltd. 9,809 436,500 3.27% DIS Walt Disney Co. (The) 3,562 431,892 3.24% GOOGL Alphabet, Inc. - Class A 260 420,189 3.15% HDB HDFC Bank Ltd. 7,166 411,615 3.08% 005930 KS Samsung Electronics Co. Ltd. 7,936 398,196 2.98% 700 HK Tencent Holdings Ltd. 5,100 389,665 2.92% VIV FP Vivendi SA 12,726 367,371 2.75% 3382 JP Seven & i Holdings Co. Ltd. 11,000 334,322 2.51% BT/A LN BT Group plc 241,738 317,488 2.38% SAF FP Safran SA 2,956 311,845 2.34% ROG LN Roche Holdings AG 947 304,264 2.28% ASURB MX Grupo Aeroportuario del Sureste SAB de CV - Class B 26,049 302,191 2.26% NVS Novartis AG 3,831 299,124 2.24% TSM Taiwan Semiconductor Manufacturing Co. Ltd. 3,414 286,332 2.15% RCI Rogers Communications, Inc. - Class B 7,031 285,529 2.14% PRX LN Prosus NV 2,707 270,296 2.03% FB Facebook, Inc. - Class A 1,025 269,688 2.02% CFR SW Compagnie Financiere Richemont SA 4,160 259,985 1.95% ASHM LN Ashmore Group plc 55,585 257,168 1.93% IHG LN InterContinental Hotels Group plc 5,049 256,542 1.92% KBANK-R Kasikornbank pcl - NVDR 102,600 250,521 1.88% 4503 JP Astellas Pharma, Inc. 17,800 244,076 1.83% SCR FP SCOR SE 9,958 241,868 1.81% BEZ LN Beazley plc 62,837 239,553 1.79% EL FP EssilorLuxottica SA 1,928 238,064 1.78% FFH CN Fairfax Financial Holdings Ltd. 868 228,195 1.71% LIVN LivaNova plc 4,332 218,073 1.63% FEMSA Fomento Economico Mexicano SAB de C.V. 40,473 217,723 1.63% GSK LN GlaxoSmithKline plc 13,019 217,398 1.63% SHUR BB Shurgard Self Storage SA 4,750 202,571 1.52% BNZL LN Bunzl plc 5,990 186,208 1.40% TSCO LN Tesco plc 69,889 186,014 1.39% UHR VX Swatch Group AG (The) 875 185,277 1.39% BIDU Baidu, Inc. 1,384 184,141 1.38% FPE GR Fuchs Petrolub SE 4,705 180,360 1.35% MC FP LVMH Moet Hennessy Louis Vuitton SE 354 165,961 1.24% 9988 HK Alibaba Group Holding Ltd. 3,700 140,206 1.05% BME LN B&M European Value Retail SA 20,701 129,918 0.97% BBVA SM Banco Bilbao Vizcaya Argentaria SA 44,879 129,502 0.97% 4507 JP Shionogi & Company Ltd. 2,000 94,334 0.71%

Money Market Funds 3.32% State Street Institutional US Government Money Market - Premier Class 443,650 $443,650 3.32%

Schedule of Investments (continued) Diamond Hill International Fund October 31, 2020

Diamond Hill International Fund Schedule of Investments September 30, 2020 (Unaudited)

Common Stocks - 95.1% Shares Fair Value Belgium - 5.6% Anheuser-Busch InBev SA/NV 10,399 $ 559,962 Shurgard Self Storage SA 4,750 207,235 767,197 Canada - 4.2% Fairfax Financial Holdings Ltd. 991 291,792 Rogers Communications, Inc., Class B 7,031 278,779 570,571 China - 3.8% Baidu, Inc. - ADR (a) 1,384 175,201 Tencent Holdings Ltd. 5,100 344,472 519,673 France - 9.8% EssilorLuxottica SA (a) 1,928 262,506 LVMH Moet Hennessy Louis Vuitton SE 354 165,659 Safran SA (a) 2,956 290,872 SCOR SE (a) 9,958 277,287 Vivendi SA 12,726 355,471 1,351,795 Germany - 1.3% Fuchs Petrolub SE 4,705 176,442

India - 2.6% HDFC Bank Ltd. - ADR (a) 7,166 358,013

Israel - 3.4% Check Point Software Technologies Ltd. (a)(b) 3,919 471,612

Japan - 4.4% Astellas Pharma, Inc. 17,800 265,282 Seven & i Holdings Co. Ltd. 11,000 341,700 606,982 Mexico - 3.9% Fomento Economico Mexicano SAB de CV 40,473 227,138 Grupo Aeroportuario del Sureste SAB de CV, Class B (a) 26,049 302,030 Diamond Hill International Fund Schedule of Investments (Continued)

Common Stocks - 95.1% (Continued) Shares Fair Value Mexico - 3.9% (Continued) $ 529,168 Netherlands - 5.4% Prosus NV (a) 2,707 249,897 Unilever NV 8,041 488,375 738,272 South Korea - 2.9% Samsung Electronics Co. Ltd. 7,936 395,142

Spain - 0.9% Banco Bilbao Vizcaya Argentaria SA 44,879 124,598

Switzerland - 11.3% Compagnie Financiere Richemont SA 4,160 279,266 Julius Baer Group Ltd. 9,809 416,539 Novartis AG - ADR 3,831 333,144 Roche Holdings AG 947 324,330 Swatch Group AG (The) 875 203,914 1,557,193 Taiwan Province Of China - 2.0% Taiwan Semiconductor Manufacturing Co. Ltd. - ADR 3,414 276,773

Thailand - 1.8% Kasikornbank pcl - NVDR 102,600 251,133

United Kingdom - 21.4% Ashmore Group plc 55,585 256,544 B&M European Value Retail SA 20,701 131,970 Beazley plc 62,837 248,768 BT Group plc 256,738 325,183 Bunzl plc 5,990 193,392 Diageo plc 15,462 531,089 GlaxoSmithKline plc 19,404 363,769 Howden Joinery Group plc 56,541 430,330 InterContinental Hotels Group plc 5,049 265,019 Tesco plc 69,889 191,723 2,937,787 United States - 10.4% Alphabet, Inc., Class A (a) 260 381,056 Copa Holdings SA, Class A 2,920 146,993 Facebook, Inc., Class A (a) 1,025 268,447 Diamond Hill International Fund Schedule of Investments (Continued)

Common Stocks - 95.1% (Continued) Shares Fair Value United States - 10.4% (Continued) LivaNova plc (a) 4,332 $ 195,850 Walt Disney Co. (The) 3,562 441,973 1,434,319

Total Common Stocks (Cost $13,667,847) $ 13,066,670

Registered Investment Companies - 4.6% Par Value Fair Value State Street Institutional US Government Money Market Fund, Premier Class, 0.03% (c) 612,793 612,793 State Street Navigator Securities Lending Portfolio I, 0.08% (c)(d) 24,650 24,650 Total Registered Investment Companies (Cost $637,443) $ 637,443

Total Investments at Value - 99.7% (Cost $14,305,290) $ 13,704,113

Other Assets in Excess of Liabilities - 0.3% 36,218

Net Assets - 100.0% $ 13,740,331

(a) Non-income producing security. (b) All or a portion of the security is on loan. The total fair value of the securities on loan as of September 30, 2020 was $24,068. (c) The rate shown is the 7-day effective yield as of September 30, 2020. (d) This security was purchased with cash collateral held from securities on loan.

ADR - American Depositary Receipt AG - Aktiengesellschaft NV - Naamloze Vennootschap NVDR - Non-Voting Depositary Receipt pcl- Public Company Limited plc - Public Limited Company SA - Societe Anonyme SAB de CV- Societe Anonima Bursatil de Capital Variable SE - Societe Europaea

Schedule of Investments Diamond Hill International Fund August 31, 2020

Net Assets: $ 13,352,567

% of Net Ticker Security Description Shares Market Value Assets ABI BB Anheuser-Busch InBev SA/NV 10,399 $604,224 4.52% CHKP Check Point Software Technologies Ltd. 3,919 494,813 3.71% BAER SW Julius Baer Group Ltd. 9,809 470,288 3.52% DIS Walt Disney Co. (The) 3,562 469,721 3.52% UNA NA Unilever NV 8,041 467,111 3.50% DGE LN Diageo plc 13,382 446,996 3.35% GSK LN GlaxoSmithKline plc 21,199 413,984 3.10% HWDN LN Howden Joinery Group plc 51,861 387,312 2.90% GOOGL Alphabet, Inc. - Class A 236 384,569 2.88% 005930 KS Samsung Electronics Co. Ltd. 7,936 360,443 2.70% BT/A LN BT Group plc 256,738 357,394 2.68% HDB HDFC Bank Ltd. 7,166 355,434 2.66% 3382 JP Seven & i Holdings Co. Ltd. 11,000 354,901 2.66% 700 HK Tencent Holdings Ltd. 5,100 348,424 2.61% SAF FP Safran SA 2,956 341,281 2.56% ROG LN Roche Holdings AG 947 331,264 2.48% NVS Novartis AG 3,831 329,696 2.47% VIV FP Vivendi SA 11,521 327,912 2.46% BEZ LN Beazley plc 54,407 311,908 2.34% FFH CN Fairfax Financial Holdings Ltd. 991 305,543 2.29% TSM Taiwan Semiconductor Manufacturing Co. Ltd. 3,814 302,260 2.26% FB Facebook, Inc. - Class A 1,025 300,530 2.25% ASURB MX Grupo Aeroportuario del Sureste SAB de CV - Class B 26,049 295,785 2.21% CFR SW Compagnie Financiere Richemont SA 4,160 276,958 2.07% ASHM LN Ashmore Group PLC 48,535 272,747 2.04% SCR FP SCOR SE 9,958 266,803 2.00% EL FP EssilorLuxottica SA 1,928 258,023 1.93% RCI Rogers Communications, Inc. - Class B 6,151 256,005 1.92% CPA Copa Holdings SA - Class A 4,745 252,671 1.89% 4503 JP Astellas Pharma, Inc. 15,600 244,749 1.83% KBANK-R Kasikornbank pcl - NVDR 89,300 243,311 1.82% SHUR BB Shurgard Self Storage SA 4,750 208,683 1.56% TSCO LN Tesco plc 69,889 204,042 1.53% BNZL LN Bunzl plc 5,990 193,185 1.45% UHR VX Swatch Group AG (The) 875 185,153 1.39% BIDU Baidu, Inc. 1,384 172,405 1.29% FPE GR Fuchs Petrolub SE 4,705 170,096 1.27% LIVN LivaNova plc 3,582 167,996 1.26% MC FP LVMH Moet Hennessy Louis Vuitton SE 354 166,202 1.24% IHG LN InterContinental Hotels Group plc 2,602 150,195 1.12% BBVA SM Banco Bilbao Vizcaya Argentaria SA 44,879 131,393 0.98% BME LN B&M European Value Retail SA 20,701 131,380 0.98% FEMSA Fomento Economico Mexicano de C.V. 22,441 130,490 0.98% PRX LN Prosus NV 1,287 128,965 0.97% WNS WNS Holdings Ltd. 1,924 127,657 0.96% 4452 JP Kao Corp. 800 60,961 0.46%

Schedule of Investments (continued) Diamond Hill International Fund August 31, 2020

Money Market Funds 0.61% State Street Institutional US Government Money Market - Premier Class 81,643 $81,643 0.61%

Schedule of Investments Diamond Hill International Fund July 31, 2020

Net Assets: $ 12,749,978

% of Net Ticker Security Description Shares Market Value Assets ABI BB Anheuser-Busch InBev SA/NV 10,399 $564,521 4.43% CHKP Check Point Software Technologies Ltd. 3,919 491,247 3.85% DGE LN Diageo plc 13,382 489,728 3.84% UNA NA Unilever NV 8,041 474,995 3.72% BAER SW Julius Baer Group Ltd. 9,809 430,595 3.38% GSK LN GlaxoSmithKline plc 21,199 422,353 3.31% DIS Walt Disney Co. (The) 3,562 416,540 3.27% 005930K Samsung Electronics Co. Ltd. 7,936 386,779 3.03% 9433 JP KDDI Corp. 11,400 362,453 2.84% GOOGL Alphabet, Inc. - Class A 236 351,156 2.75% 700 HK Tencent Holdings Ltd. 5,100 349,852 2.74% HDB HDFC Bank Ltd. 7,166 335,010 2.63% 3382 JP Seven & i Holdings Co. Ltd. 11,000 332,380 2.61% BT/A LN BT Group plc 256,738 329,944 2.59% SAF FP Safran SA 2,956 314,277 2.46% FFH CN Fairfax Financial Holdings Ltd. 991 310,519 2.43% HWDN LN Howden Joinery Group plc 47,172 301,070 2.36% TSM Taiwan Semiconductor Manufacturing Co. Ltd. 3,814 300,886 2.36% BEZ LN Beazley plc 54,407 296,421 2.32% ROG LN Roche Holdings AG 851 294,737 2.31% NVS Novartis AG 3,441 282,644 2.22% VIV FP Vivendi SA 10,360 274,831 2.16% ASURB M Grupo Aeroportuario del Sureste SAB de CV - Class B 26,049 261,065 2.05% FB Facebook, Inc. - Class A 1,025 260,012 2.04% CFR SW Compagnie Financiere Richemont SA 4,160 258,246 2.03% EL FP EssilorLuxottica SA 1,928 256,719 2.01% SCR FP SCOR SE 9,958 256,208 2.01% RCI Rogers Communications, Inc. - Class B 6,151 251,207 1.97% ASHM LN Ashmore Group PLC 48,535 248,326 1.95% 4503 JP Astellas Pharma, Inc. 15,600 243,303 1.91% KBANK-R Kasikornbank pcl - NVDR 89,300 232,225 1.82% BNZL LN Bunzl plc 7,611 218,057 1.71% TSCO LN Tesco plc 69,889 197,280 1.55% CPA Copa Holdings SA - Class A 4,745 196,633 1.54% SHUR BB Shurgard Self Storage SA 4,750 186,303 1.46% UHR VX Swatch Group AG (The) 875 183,434 1.44% WNS WNS Holdings Ltd. 2,735 174,931 1.37% BEI GR Beiersdorf AG 1,398 166,876 1.31% LIVN LivaNova plc 3,582 166,706 1.31% BIDU Baidu, Inc. 1,384 165,250 1.30% FPE GR Fuchs Petrolub SE 4,705 160,180 1.26% MC FP LVMH Moet Hennessy Louis Vuitton SE 354 153,886 1.21% BME LN B&M European Value Retail SA 20,701 124,478 0.98% BBVA SM Banco Bilbao Vizcaya Argentaria SA 31,443 97,874 0.77% IHG LN InterContinental Hotels Group plc 1,375 63,343 0.50% 4452 JP Kao Corp. 800 58,029 0.45%

Schedule of Investments (continued) Diamond Hill International Fund July 31, 2020

Money Market Funds 0.15% State Street Institutional US Government Money Market - Premier Class 19,483 $19,483 0.15%

Diamond Hill International Fund Schedule of Investments June 30, 2020 (Unaudited)

Fair

Shares Value Common Stocks — 98.6% Belgium — 5.6% Anheuser-Busch InBev SA/NV 10,399 $ 512,735 Shurgard Self Storage SA 4,750 178,862 691,597 Canada — 4.3% Fairfax Financial Holdings Ltd. 991 306,174 Rogers Communications, Inc., Class B 5,524 222,010 528,184 China — 4.4% Baidu, Inc. - ADR (a) 1,384 165,928 Tencent Holdings Ltd. 6,000 384,467 550,395 France — 10.0% EssilorLuxottica SA (a) 1,928 248,006 LVMH Moet Hennessy Louis Vuitton SE 354 156,320 Safran SA (a) 2,956 297,407 SCOR SE (a) 9,958 275,077 Vivendi SA 10,360 267,752 1,244,562 Germany — 2.6% Beiersdorf AG 1,398 159,004 Fuchs Petrolub SE 4,705 158,480 317,484 India — 3.8% HDFC Bank Ltd. - ADR 7,166 325,766 WNS Holdings Ltd. - ADR (a) 2,735 150,370 476,136 Israel — 3.4% Check Point Software Technologies Ltd. (a)(b) 3,919 421,018

Japan — 7.8% Astellas Pharma, Inc. 15,600 260,508 Kao Corp. 800 63,485 KDDI Corp. 11,400 340,137 Seven & i Holdings Co. Ltd. 9,400 307,501 971,631

Diamond Hill International Fund Schedule of Investments (Continued) June 30, 2020 (Unaudited)

Fair Shares Value Common Stocks — 98.6% continued Mexico — 1.9% Grupo Aeroportuario del Sureste SAB de CV, Class B (a) 20,449 $ 229,069

Netherlands — 4.4% Unilever NV 10,206 544,269

South Korea — 2.8% Samsung Electronics Co. Ltd. 7,936 352,224

Spain — 0.9% Banco Bilbao Vizcaya Argentaria SA 31,443 108,279

Switzerland — 11.4% Compagnie Financiere Richemont SA 4,160 268,316 Julius Baer Group Ltd. (a) 9,069 380,868 Novartis AG - ADR 3,441 300,537 Roche Holding AG 851 294,822 Swatch Group AG (The) (b) 875 175,619 1,420,162 Taiwan Province of China — 1.7% Taiwan Semiconductor Manufacturing Co. Ltd. - ADR 3,814 216,521

Thailand — 2.2% Kasikornbank pcl - NVDR 89,300 271,116

United Kingdom — 20.6% Ashmore Group plc 48,535 250,605 B&M European Value Retail SA 20,701 101,897 Beazley plc 54,407 275,820 BT Group plc 256,738 363,086 Bunzl plc 7,611 204,147 Diageo plc 13,382 444,775 GlaxoSmithKline plc 21,199 428,207 Howden Joinery Group plc 42,472 290,766 Tesco plc 69,889 196,571 2,555,874 United States — 10.8% Alphabet, Inc., Class A (a) 236 334,660 Copa Holdings SA, Class A 4,745 239,907

Fair Shares Value United States — 10.8% continued Facebook, Inc., Class A (a) 1,025 $ 232,747 LivaNova plc (a) 2,938 141,406 Walt Disney Co. (The) 3,562 397,199 1,345,919

Total Common Stocks (Cost $13,138,891) $ 12,244,440

Registered Investment Companies — 4.4% State Street Institutional US Government Money Market Fund, Premier Class, 0.12% (c) 125,946 125,946 State Street Navigator Securities Lending Portfolio I, 0.37% (c)(d) 425,212 425,212

Total Registered Investment Companies (Cost $551,158) $ 551,158

Total Investments at Value — 103.0% (Cost $13,690,049) $ 12,795,598

Liabilities in Excess of Other Assets — (3.0)% (376,601)

Net Assets — 100.0% $ 12,418,997

(a) Non-income producing security. (b) All or a portion of the security is on loan. The total fair value of the securities on loan as of June 30, 2020 was $592,102. (c) The rate shown is the 7-day effective yield as of June 30, 2020. (d) This security was purchased with cash collateral held from securities on loan.

ADR — American Depositary Receipt plc — Public Limited Company pcl — Public Company Limited SA — Societe Anonyme AG — Aktiengesellschaft NVDR — Non-Voting Depositary Receipt SE — Societe Europaea NV — Naamloze Vennootschap SAB de CV— Societe Anonima Bursatil de Capital Variable