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<SEC-DOCUMENT>0000909108-06-000063.txt : 20061101
<SEC-HEADER>0000909108-06-000063.hdr.sgml : 20061101
<ACCEPTANCE-DATETIME>20061101163436
ACCESSION NUMBER:		0000909108-06-000063
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20060930
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20061101
DATE AS OF CHANGE:		20061101

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:		061179264

	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-1106.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):

                                 November 1, 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 nine
months ended September 30, 2006, as described in Registrant's press release
dated November 1, 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 November 1, 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: November 1, 2006	                        By: /s/ James F. Laird
                                            -------------------------------
                                            James F. Laird, Chief Financial
                                             Officer and Secretary
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>ex991-1106.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 THIRD QUARTER 2006


     Columbus,  Ohio -- November 1, 2006, -- Diamond Hill  Investment  Group,
Inc. (NASDAQ:DHIL) today reported unaudited results for the quarter ended
September 30, 2006.  Assets under management increased by 171% to $3.117
billion compared to $1.150 billion at the end of the third quarter of 2005
while investment management revenue of $5.5 million for the quarter increased
by 67% compared to 2005.  Revenue in 2005 included $1.6 million in performance
incentive fees compared to $0 incentive fees earned in the third quarter of
2006.  Net income for the quarter was $1.36 million or $0.61 per diluted share
compared to net income of $90 thousand or $0.04 per diluted share in 2005.

     Ric Dillon, president and chief investment officer stated, "Our primary
business objective is to produce excellent long-term investment returns for
our clients.  For the quarter ending September 30, 2006 our investment returns
in our equity strategies were below benchmarks, while our strategic income
strategy was above its benchmark.  We are pleased that all of our strategies
are above their benchmarks since their respective inceptions."  Jim Laird,
chief financial officer, stated, "New client investments in the quarter were
$422 million, up 56% from the third quarter of 2005 but down 24% from the
second quarter of 2006.  We are expanding efforts to grow our business
specifically by adding resources to sell our funds into the wirehouse and
regional broker dealer markets and our ongoing efforts to market our private
funds to institutional clients in the U.S. and abroad."


Three months ended Sept. 30	 Q3 2006	 Q3 2005	Change
Investment management revenue	$5,511,418     	$3,297,315	  67%
  Net operating income		$1,424,936	$ (113,037)	  n.m.
  Net operating income margin      26%             n.m.
Mutual fund administration, net	$  596,223	$   (9,007)	  n.m.
Investment return		$  113,187	$  211,718	 (47%)
  Pre-tax income		$2,134,346	$   89,674	  n.m.
  Pre-tax income margin            39%             3%
Net income			$1,362,245	$   89,674	  n.m.
Earnings per share - diluted	$  0.61		$  0.04		  n.m.
  Assets under management	$3.117 billion	$1.150 billion	 171%


Nine months ended Sept 30	 YTD 2006	 YTD 2005	Change
Investment management revenue	$15,749,381    	$5,876,677	 168%
  Net operating income		$ 4,101,139	$  732,735	 459%
  Net operating income margin       26%             12%
Mutual fund administration, net	$ 1,220,062	$ (126,709)	  n.m.
Investment return		$   903,287	$  378,469	 139%
  Pre-tax income		$ 6,224,488	$  984,495	 533%
  Pre-tax income margin             40%             17%
Net income			$ 3,983,025	$  984,495	 305%
Earnings per share - diluted	$  1.81		$  0.50		 262%


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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