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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000909108-05-000016.txt : 20050516
<SEC-HEADER>0000909108-05-000016.hdr.sgml : 20050516
<ACCEPTANCE-DATETIME>20050516080629
ACCESSION NUMBER:		0000909108-05-000016
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20050516
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20050516
DATE AS OF CHANGE:		20050516

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DIAMOND HILL INVESTMENT GROUP INC
		CENTRAL INDEX KEY:			0000909108
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				650190407
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24498
		FILM NUMBER:		05831418

	BUSINESS ADDRESS:	
		STREET 1:		375 NORTH FRONT STREET
		STREET 2:		SUITE 300
		CITY:			COLUMBUS
		STATE:			OH
		ZIP:			43215
		BUSINESS PHONE:		6142553333

	MAIL ADDRESS:	
		STREET 1:		375 NORTH FRONT STREET
		STREET 2:		SUITE 300
		CITY:			COLUMBUS
		STATE:			OH
		ZIP:			43215

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BANC STOCK GROUP INC
		DATE OF NAME CHANGE:	19971016

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HEARTLAND GROUP OF COMPANIES INC
		DATE OF NAME CHANGE:	19940301

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HEARTLAND FINANCIAL GROUP INC
		DATE OF NAME CHANGE:	19930714
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>x8k-0505.txt
<DESCRIPTION>DIAMOND HILL INVESTMENT GROUP, INC.
<TEXT>
                                 UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                             _______________________

                                    FORM 8-K

                                 CURRENT REPORT

                             _______________________

                     PURSUANT TO SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                Date of Report (Date of earliest event reported):

                                  May 16, 2005

                       Diamond Hill Investment Group, Inc.
- ------------------------------------------------------------------------------
             (Exact Name of Registrant as Specified in its Charter)

                                      Ohio
- ------------------------------------------------------------------------------
                 (State or Other Jurisdiction of Incorporation)

             000-24498                              65-0190407
- ------------------------------------------------------------------------------
      (Commission File Number)         (I.R.S. Employer Identification No.)

      375 North Front Street, Suite 300, Columbus, Ohio              43215
- ------------------------------------------------------------------------------
      (Address of Principal Executive Offices)                    (Zip Code)

Registrant's Telephone Number, Including Area Code:   (614) 255-3333


- ------------------------------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)

<PAGE>

Item 9.01   Financial Statements and Exhibits
- ---------   ---------------------------------

          The following exhibit is included with this Report:

          Exhibit 99.1   Press release, dated May 16, 2005, announcing
                         earnings of Diamond Hill Investment Group, Inc.
                         for the quarter ended March 31, 2005.


                                    SIGNATURE
                                    ---------

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the registrant  has duly  caused  this  report  to be  signed  on its  behalf
by the undersigned hereunto duly authorized.

                                        DIAMOND HILL INVESTMENT GROUP, INC.


Date: May 16, 2005                          By: /s/ James F. Laird
                                            -------------------------------
                                            James F. Laird, Chief Financial
                                             Officer and Secretary
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>ex991-0505.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>
                                  ^
                                  Diamond Hill
                                  ------------
                                  Investments


FOR IMMEDIATE RELEASE:
                                             Investor Contact:
                                             James F. Laird
                                             Chief Financial Officer
                                             614-255-3353
                                             E-mail: (jlaird@diamond-hill.com)

                      DIAMOND HILL INVESTMENT GROUP, INC.
             REPORTS PROFIT IN FIRST QUARTER AS REVENUES CLIMB 155%

     Columbus,  Ohio -- May 16, 2005, -- Diamond Hill  Investment  Group,
Inc. (NASDAQ:DHIL) today reported unaudited results for the quarter ended
March 31, 2005.  Assets under management increased by 125% to $679 million
compared to $302 million at the end of the first quarter of 2004 while
investment management revenue increased by 155% compared to 2004.  Both assets
under management and investment management revenue were driven higher by
strong investment returns in client portfolios.  As of March 31, all six
Diamond Hill funds ranked in the top quartile of funds in their respective
invesetment category.  Net income for the quarter was $397 thousand compared to
a net loss of $80 thousand in 2004.

     Ric Dillon, president and chief investment officer stated, "In the first
quarter we continued to produce excellent investment returns for our clients,
which is our primary business objective.  Our efforts to market our mutual
funds and managed portfolios resulted in $133 million in new client
investments in in the first quarter of 2005 compared to $42 million in the
first quarter of 2004."

				 Q1 2005	Q2 2004	      Change
Investment Management Revenue	$1,188,990     $  466,059      155%
Net Income (Loss)		$  396,633     $  (80,222)     n.m
Earnings Per Share (diluted)	$     0.20     $    (0.05)     n.m
Assets Under Management		$679 million   $302 million    125%

     Dillon went on to say, "We are pleased that the company continues to
make progress" but cautioned that "first quarter results included $316,000
in performance fees and investment returns on the company portfolio, both of
which can be volatile, particularly in the short-term."

     At the company's annual shareholder meeting on May 12, shareholders
approved a new Employee and Director Equity Incentive Plan.  The board of
directors has initiated a review of the compensation of all staff and expects
to finalize a new compensation program by August 2005.  Performance bonuses,
if any, are expected to be finalized by the fourth quarter.

About Diamond Hill:

     Diamond Hill provides investment management services to individuals and
institutions seeking to preserve and build wealth.  The firm currently manages
mutual funds, seperate accounts and a private investment fund.  For more
information on Diamond Hill, visit www.diamond-hill.com.



                                     ###

            375 North Front Street, Suite 300, Columbus, Ohio 43215
                         614-255-3333  fax 614-255-3363
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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