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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000909108-07-000058.txt : 20071105
<SEC-HEADER>0000909108-07-000058.hdr.sgml : 20071105
<ACCEPTANCE-DATETIME>20071105161527
ACCESSION NUMBER:		0000909108-07-000058
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20071105
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20071105
DATE AS OF CHANGE:		20071105

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DIAMOND HILL INVESTMENT GROUP INC
		CENTRAL INDEX KEY:			0000909108
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		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:		071214134

	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-1107.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 5, 2007

                       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 2.02   Results of Operations and Financial Condition
- ---------   ---------------------------------------------

Registrant has reported its results of operations for the Fiscal Quarter
ended September 30, 2007, as described in Registrant's press release dated
November 5, 2007, 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 Novemebr 5, 2007.



                                    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 5, 2007                           By: /s/ James F. Laird
                                            -------------------------------
                                            James F. Laird, Chief Financial
                                             Officer and Secretary
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>ex991-1107.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>

					^
                          	 Diamond Hill
                                 ------------
                                 Investments


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

DIAMOND HILL INVESTMENT GROUP, INC.
REPORTS RESULTS FOR THIRD QUARTER 2007

	Columbus, Ohio - November 5, 2007 - Diamond Hill Investment Group, Inc.
(NASDAQ:DHIL) today reported unaudited results for the quarter ended
September 30, 2007.  Assets under management increased by 42% to $4.4 billion
compared to $3.1 billion at the end of the third quarter of 2006 while revenue
of $10.7 million for the quarter increased by 61% compared to 2006.  Performance
incentive fees, which are volatile from period to period, were insignificant in
both the third quarter of 2007 and 2006.  Net income for the quarter was $2.65
million or $1.14 per diluted share compared to net income of $1.36 million or
$0.61 per diluted share in 2006.

R. H. Dillon, president and chief investment officer, stated, "Our primary
business objective is to produce excellent long-term investment returns for our
clients.  Over the past year, the investment returns in our investment
strategies were mixed; however, it is important that we remain focused on
long-term results and are pleased that all strategies with at least five years
of investment results have outperformed their benchmarks over that period."
James F. Laird, chief financial officer, stated, "Net new client investments in
the first three quarters of 2007 were $600 million compared to $1.6 billion in
2006.  We have continued to add resources to market into the wirehouse and
broker dealer channels, and to maintain and grow our business in other
distribution channels.  Clearly growth in our business is affected by short-term
investment results which have led to a significant reduction in net inflows so
far in 2007."

					Three months ended September 30,
				   2007		  2006		Change
Total revenue			$10,701,341	$6,654,613	61%
Performance incentive fees	      1,520	         0	n.m
    Net operating income	  3,533,490	 2,021,159	75%
    Net operating margin		33%	       30%
Investment return		    534,594        113,187	372%
    Pre-tax income 		  4,068,084	 2,134,346	91%
Net income 		          2,648,293	 1,362,245	94%
Earnings per share - diluted	      $1.14	     $0.61	87%
    Assets under management	 $4.4 billion	$3.1 billion	42%


    					 Nine months ended September 30,
				   2007		  2006		Change
Total revenue			$30,424,924    $18,483,689	65%
Performance incentive fees	      5,817	 2,509,875	(100%)
    Net operating income	 10,042,315	 5,321,201	89%
    Net operating margin		33%	       29%
Investment return		    733,720	   903,287	(19%)
    Pre-tax income 		 10,776,035	 6,224,488	73%
Net income 		 	  7,056,302	 3,983,025	77%
Earnings per share - diluted	      $3.13	     $1.81	73%



Income taxes - In the first nine months of 2007, non-qualified stock options
and warrants were exercised which will result in a $22.7 million tax deduction
but, in accordance with generally accepted accounting principles (GAAP), no
compensation expense.  Further, under GAAP, the company accrued a $3.7 million
tax expense in the first nine months of 2007 despite the fact that the company
will not pay income tax related to the first nine months of income as a result
of the aforementioned tax deduction.  Similarly, in future periods, the company
will not pay income tax until cumulative pre-tax income in 2007, and future
periods, exceeds the $22.7 million tax deduction described above.

About Diamond Hill:
Diamond Hill provides investment management services to institutions and
financial intermediaries seeking to preserve and build capital. The firm
currently manages mutual funds, separate 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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