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<SEC-DOCUMENT>0000909108-09-000025.txt : 20090508
<SEC-HEADER>0000909108-09-000025.hdr.sgml : 20090508
<ACCEPTANCE-DATETIME>20090508161743
ACCESSION NUMBER:		0000909108-09-000025
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20090508
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20090508
DATE AS OF CHANGE:		20090508

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:		09811011

	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-0509.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):

                                 May 8, 2009

                       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 March 31, 2009, as described in Registrant's press release dated
May 8, 2009, 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 May 8, 2009.



                                    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 8, 2009                 	    By: /s/ James F. Laird
                                            -------------------------------
                                            James F. Laird, Chief Financial
                                             Officer and Secretary
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>ex991-0509.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 FIRST QUARTER 2009

	Columbus, Ohio - May 8, 2009 - Diamond Hill Investment Group, Inc.
(NASDAQ:DHIL) today reported unaudited results for the quarter ended March 31,
2009.  Assets under management ended the quarter at $3.91 billion a decrease of
16% and 13% compared to the first quarter of 2008 and the year ended December
31, 2008, respectively.  Revenue decreased 19% to $8.9 million for the first
quarter of 2009 compared to the first quarter of 2008.  Net income for the
quarter was $351 thousand or $0.14 per diluted share compared to net income of
$1.99 million or $0.82 per diluted share in the first quarter of 2008.  The
primary contributor to the decline in net income was an investment loss of
$1.58 million or $0.63 per diluted share in the quarter.

Ric Dillon, president and chief investment officer stated, "Our primary business
objective is to fulfill our fiduciary responsibility to our clients by achieving
excellent long term investment returns.  Our absolute investment returns during
the first quarter reflected the extremely negative market conditions.  However,
our focus is on long-term results and I am pleased that our strategies have
generally outperformed their benchmarks over the past five years."  Jim Laird,
chief financial officer, stated, "For the first time since the third quarter of
2007, we saw net client redemptions in the quarter of $96 million compared to
net new client investments of $370 million in first quarter 2008. Our
distribution focus is unchanged."

					     Three months ended March 31,
					    2009	   2008		Change
Revenue					$8,883,474	$10,903,224	(19%)
    Net operating income		$2,127,756	 $3,525,572	(40%)
    Net operating margin		     24%	    32%
Investment return		       (1,578,852)	  (374,664)
    Pre-tax income 		  	   548,904	  3,150,908	(83%)
    Income tax provision		 (197,533)	(1,165,219)	(83%)
Net income 				  $351,371	 $1,985,689	(82%)
Earnings per share - diluted		   $0.14	   $0.82	(83%)
    Assets under management	     $3.91 billion    $4.67 billion	(16%)
Weighted Average Diluted Shares		 2,515,633	  2,426,400	  4%

- - In April, Beacon Hill received final approval from FINRA to operate its
registered broker dealer BHIL Distributors, Inc.  In the quarter, Beacon Hill
generated an operating loss of $381,000 on revenue of $104,000 but anticipates
achieving run rate breakeven by the fourth quarter.  Net operating margin in
the quarter excluding Beacon Hill was 28.5%.

- - The Diamond Hill Funds' board of trustees approved an increase in fund
administration fees effective April 30, 2009.  The fee increase is an average
of 3 basis points across all share classes.

- - In April, total assets under management increased by $553 million or 14% to
$4.46 billion from a combination of strong investment returns and $109 million
in net new client investments.

- - Investment performance for the first four months of 2009 was generally very
strong across strategies.

2009 Annual Meeting of Shareholders - Diamond Hill announced that the 2009
Annual Shareholder meeting will be held May 21, 2009 at 2:00 pm Eastern Time
along with an investor conference call.


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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