-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 OZLZEtZIqGrhfW4wpezWQaaObe070FPaYansmiAqOiY6Lvg2d7zYbemBAAANQXuB
 GtfOegv3zxhpVoJFRkYIgw==

<SEC-DOCUMENT>0000909108-08-000041.txt : 20080808
<SEC-HEADER>0000909108-08-000041.hdr.sgml : 20080808
<ACCEPTANCE-DATETIME>20080808161619
ACCESSION NUMBER:		0000909108-08-000041
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20080808
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20080808
DATE AS OF CHANGE:		20080808

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:		081002723

	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-0808.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 8, 2008

                       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 June 30, 2008, as described in Registrant's press release dated
August 8, 2008, a copy of which is filed herewith as Exhibit 99.1 and
incorporated herein by reference.

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

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

99.1          Press release issued by the Registrant dated August 8, 2008.



                                    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 8, 2008                        By: /s/ James F. Laird
                                            -------------------------------
                                            James F. Laird, Chief Financial
                                             Officer and Secretary
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>ex991-0808.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 SECOND QUARTER 2008

	Columbus, Ohio - August 8, 2008 - Diamond Hill Investment Group, Inc.
(NASDAQ:DHIL) today reported unaudited results for the quarter ended June 30,
2008.  Assets under management ended the quarter at $5.5 billion an increase of
22% and 25% compared to $4.5 billion at the end of the second quarter of 2007
and $4.4 billion at the end of 2007.   Revenue of $12.4 million for the quarter
increased by 20% compared to the second quarter of 2007.  Operating Income
increased to $4.1 million for the quarter, a 19% increase from the second
quarter of 2007. Net income for the quarter was $1.78 million or $0.73 per
diluted share compared to net income of $2.41 million or $1.05 per diluted share
during the same period in 2007.

Ric Dillon, president and chief investment officer stated, "Our primary business
objective is to produce excellent long-term investment returns for our clients.
The first six months of 2008 was a difficult market environment, and for the
most part each of our strategies performed very well on a relative basis.
However, our focus is on long-term results and I am pleased that all our
strategies continued to outperform their benchmarks over the past five years."
Jim Laird, chief financial officer, stated, "New client investments in the
first half of 2008 were $1.4 billion which is an increase of 96% compared to
the first half of 2007.  We have also seen an increase in our institutional
separate account business including our large cap strategy being selected for
the managed account programs from two different investment firms."

					     Three months ended June 30,
					    2008	   2007		Change
Revenue					$12,395,713	$10,368,839	  20%
Performance incentive fees		     97,980 	          -	 n.m.
    Net operating income		  4,055,628	  3,421,759	  19%
    Net operating margin		    33%	     	     33%	    -
Investment return		      	(1,331,449)	    229,586	 n.m.
Pre-tax income 		  		  2,724,179	  3,651,345	 (25%)
Net income 				 $1,779,374	 $2,413,596	 (26%)
Earnings per share - diluted		   $0.73	   $1.05	 (30%)
Weighted Average Diluted Shares		  2,447,151	  2,302,087	   6%
Assets under management		       $5.5 billion    $4.5 billion	  22%

			                     Six months ended June 30,
					    2008	    2007	Change
Revenue					 $23,298,936	 $19,723,582	  18%
Performance incentive fees		     378,881 	       4,297	 n.m.
    Net operating income		  $7,581,199	  $6,508,824	  16%
    Net operating margin		     33%	     33%	    -
Investment return		         (1,706,113)	     199,126	 n.m.
Pre-tax income 		  		   5,875,086	   6,707,950	 (12%)
Net income 				  $3,765,062	  $4,408,009	 (14%)
Earnings per share - diluted		    $1.55	    $1.97	 (21%)


Beacon Hill Fund Services - as previously announced, the company capitalized a
new subsidiary, Beacon Hill Fund Services (Beacon Hill), which will offer
services to small and mid-sized mutual fund companies.  Beacon Hill remains
focused on building its infrastructure, marketing its services, and has made
good progress toward retaining a number of new clients.  For the first six
months of 2008, Beacon Hill generated a pre-tax loss of $566,000; which reduced
Diamond Hill's net operating margin from 35% to 33%.

Income Taxes - the exercise of options and warrants in 2007 and for the first
six months of 2008 resulted in a cumulative federal tax deduction of $22.8
million and a corresponding tax benefit of $7.8 million.  In accordance with
generally accepted accounting principles this tax benefit is not reflected in
earnings.  In the first half of 2008 $1.9 million of the $7.8 million was
realized and $0.1 million remains for future periods.


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>
-----END PRIVACY-ENHANCED MESSAGE-----
