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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000909108-06-000048.txt : 20060807
<SEC-HEADER>0000909108-06-000048.hdr.sgml : 20060807
<ACCEPTANCE-DATETIME>20060807162126
ACCESSION NUMBER:		0000909108-06-000048
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20060630
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20060807
DATE AS OF CHANGE:		20060807

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:		061009257

	BUSINESS ADDRESS:	
		STREET 1:		325 JOHN H MCCONNELL BLVD
		STREET 2:		SUITE 200
		CITY:			COLUMBUS
		STATE:			OH
		ZIP:			43215
		BUSINESS PHONE:		6142553333

	MAIL ADDRESS:	
		STREET 1:		325 JOHN H MCCONNELL BLVD
		STREET 2:		SUITE 200
		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-0806.txt
<DESCRIPTION>DIAMOND HILL INVESTMENT GROUP, INC. 8-K
<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):

                                 August 7, 2006

                       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.)

      325 John H. McConnell Blvd, Suite 200, 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
- ---------   ---------------------------------

Registrant has reported its results of operations for the three and six months
ended June 30, 2006, as described in Registrant's press release dated
August 7, 2006, a copy of which is filed herewith as Exhibit 99.1 and
incorporated herein by reference.

Exhibit No.   Document
- -----------   --------

99.1          Press release issued by the Registrant dated August 7, 2006.



                                    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: August 7, 2006	                        By: /s/ James F. Laird
                                            -------------------------------
                                            James F. Laird, Chief Financial
                                             Officer and Secretary
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>ex991-0806.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 RESULTS FOR SECOND QUARTER 2006


     Columbus,  Ohio -- August 7, 2006, -- Diamond Hill  Investment  Group,
Inc. (NASDAQ:DHIL) today reported unaudited results for the quarter ended June
30, 2006.  Assets under management increased by 237% to $2.733 billion
compared to $811 million at the end of the second quarter of 2005 while
investment management revenue of $5.3 million for the quarter increased by
286% compared to 2005.  Revenue included $900 thousand in performance
incentive fees compared to $93 thousand in the second quarter of 2005.  Both
assets undermanagement and investment management revenue continue to be driven
higher by strong investment returns in client portfolios.  Net income for the
quarter was $1.37 million or $0.62 per diluted share compared to net income of
$515 thousand or $0.26 per diluted share in 2005.  The company's 2005 second
quarter results do not reflect any provision for incentive compensation or
income taxes because neither was considered probable at that point in time;
however, provisions for both are included in 2006.

	Ric Dillon, president and chief investment officer stated, "Our primary
business objective is to produce excellent investment returns for our clients.
I am pleased that we have continued to deliver strong results.  Our efforts to
market our funds and managed portfolios resulted in over $1.1 billion in new
client investments in the first half of 2006 compared to $235 million in 2005,
an increase of 368%."

Three months ended June 30	 Q2 2006	 Q2 2005	Change
Investment management revenue	$5,334,109     	$1,382,712	 286%
  Net operating income		$1,450,240	$  497,638	 191%
  Net operating income margin      27%             36%
Mutual fund administration, net	$  355,547	$  (43,570)	  n.m.
Investment return		$  364,982	$   61,134	 469%
  Pre-tax income		$2,170,769	$  515,202	 322%
  Pre-tax income margin            41%             37%
Net income			$1,368,168	$  515,202	 166%
Earnings per share - diluted	$  0.62		$  0.26		 138%
  Assets under management	$2.733 billion	$811 million	 237%


Six months ended June 30	 YTD 2006	 YTD 2005	Change
Investment management revenue	$10,237,963    	$2,596,377	 294%
  Net operating income		$ 2,676,204	$  862,787	 210%
  Net operating income margin       26%             33%
Mutual fund administration, net	$   623,838	$ (117,702)	  n.m.
Investment return		$   790,100	$  166,751	 374%
  Pre-tax income		$ 4,090,142	$  911,836	 349%
  Pre-tax income margin             40%             35%
Net income			$ 2,620,780	$  911,836	 187%
Earnings per share - diluted	$  1.20		$  0.47		 155%


About Diamond Hill:

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


                                     ###

         325 John H. McConnell Blvd, Suite 200, Columbus, Ohio 43215
                         614-255-3333  fax 614-255-3363
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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