<SEC-DOCUMENT>0000909108-12-000057.txt : 20121026
<SEC-HEADER>0000909108-12-000057.hdr.sgml : 20121026
<ACCEPTANCE-DATETIME>20121026161803
ACCESSION NUMBER:		0000909108-12-000057
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20121026
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20121026
DATE AS OF CHANGE:		20121026

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:		121164658

	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-1026.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):

                                 October 26, 2012

                       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)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
    230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
    240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
    Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
    Act (17 CFR 240.13e-4(c))


<PAGE>

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

Registrant has reported its results of operations for the fiscal quarter
ended September 30, 2012, as described in Registrant's press release dated
October 26, 2012, 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 October 26, 2012.



                                    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: October 26, 2012			    By: /s/ James F. Laird
                                            -------------------------------
                                            James F. Laird, Chief Financial
                                             Officer and Secretary
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>ex991-1012.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 2012

	Columbus, Ohio - October 26, 2012 - Diamond Hill Investment Group, Inc.
(NASDAQ:DHIL) today reported unaudited results for the quarter ended September
30,2012.  The Company plans to file its Form 10-Q on Friday, November 2, 2012
and we urge investors to read and consider the information in that filing.
Whenever possible, we will post our report on a Friday afternoon so that
investors have a maximum amount of time to digest the information contained
therein.



					     Three Months Ended September 30,
					  2012            2011		Change
Revenue					$16,859,607    $15,369,873        10%
    Net operating income 		  6,030,220      5,443,571        11%
    Operating margin			    36%	             35%
Investment return			    620,600     (1,309,169)
Net income 			          4,166,786      2,539,228	  64%
Earnings per share		       $   1.32         $   0.84	  57%



					       Nine Months Ended September 30,
					  2012            2011		Change
Revenue					$49,634,682     $48,647,144        2%
    Net operating income 		 17,881,289      16,743,155        7%
    Operating margin			    36%	             34%
Investment return			  1,423,899      (848,026)
Net income 			         12,106,236      9,899,851	  22%
Earnings per share		       $   3.91         $   3.37	  16%



						    As Of
                             September 30, 	 December 31, 	 September 30,
				   2012		    2011	      2011
Assets under management
  (millions)		  	   $9,681	      $8,671	       $7,719
Book value per share (a)	   $12.94 	       $6.03	        $9.17
Total outstanding shares	3,160,768	   2,995,814 	    2,995,235

(a) - A $5 per share special dividend was paid in December 2011.


						 Change in Assets Under Management
					      For the Three Months Ended September 30,
(in millions)						2012		2011
AUM at beginning of the period		       	    $   9,164 	    $   9,186
Net cash inflows (outflows)
	proprietary funds	 			  161	 	  (93)
	sub-advised funds				  (42)		  (37)
	separate accounts	 		  	 (191) 	 	  (29)
		 				  	  (72) 	 	 (159)
Net market appreciation (depreciation) and income         589 	       (1,308)
Increase (decrease) during the period		 	  517 	       (1,467)
AUM at end of the period  		 	    $   9,681       $   7,719


						  Change in Assets Under Management
					    For the Nine Months Ended September 30,
(in millions)						2012		2011
AUM at beginning of the period		       	    $   8,671 	    $   8,623
Net cash inflows (outflows)
	proprietary funds	 			  368	 	 (111)
	sub-advised funds      				 (117)		   40
	separate accounts	 		  	 (171) 	 	    5
		 				  	   80 	 	  (66)
Net market appreciation (depreciation) and income         930 	         (838)
Increase (decrease) during the period		        1,010 	 	 (904)
AUM at end of the period  		 	    $   9,681       $   7,719


About Diamond Hill:
Diamond Hill is an independent investment management firm with significant
employee ownership and $9.7 billion in assets under management as of
September 30, 2012. The firm provides investment management services to
institutions and individuals through mutual funds, institutional separate
accounts, and private investment funds. Diamond Hill's entire investment team
shares the same intrinsic value investment philosophy focused on absolute
returns, and the firm's interests are firmly aligned with its clients through
significant investment in its strategies.For more information on Diamond
Hill, visit www.diamond-hill.com.


Use of Supplemental Data as Non-GAAP Performance Measure
Net Operating Income After Tax

As supplemental information, we are providing performance measures that are
based on methodologies other than generally accepted accounting principles
("non-GAAP") for "Net Operating Income After Tax" that management uses as
benchmarks in evaluating and comparing the period-to-period operating
performance of Diamond Hill Investment Group, Inc. (the "Company") and its
subsidiaries.

The Company defines "net operating income after tax" as the Company's net
operating income less income tax provision excluding investment return and
the tax impact related to the investment return. The Company believes that
"net operating income after tax" provides a good representation of the
Company's operating performance, as it excludes the impact of investment
return on financial results. The amount of the investment portfolio and
market fluctuations on the investments can change significantly from one
period to another, which can distort the underlying earnings potential of
a company. We also believe "net operating income after tax" is an important
metric in estimating the value of an asset management business. This non-GAAP
measure is provided in addition to net income and net operating income and is
not a substitute for net income or net operating income and may not be
comparable to non-GAAP performance measures of other companies.

		 			   Three Months Ended September 30,
(in thousands, except per share data)		  2012  	 2011
Net operating income, GAAP basis 	         $6,030	        $5,444
Non-GAAP adjustments:
  Tax provision excluding impact
    of investment return 		 	  2,252		 2,100
Net operating income after tax,
  non-GAAP basis 	 			 $3,778		$3,344

Net operating income after tax per
  share, non-GAAP basis    	        	$  1.20        $  1.11



		 			    Nine Months Ended September 30,
(in thousands, except per share data)		  2012  	 2011
Net operating income, GAAP basis 	        $17,881	       $16,743
Non-GAAP adjustments:
  Tax provision excluding impact
    of investment return 		 	  6,668		 6,315
Net operating income after tax,
  non-GAAP basis 	 			$11,213        $10,428

Net operating income after tax per
  share, non-GAAP basis    	        	$  3.62        $  3.55



The tax provision excluding impact of investment return is calculated by
applying the tax rate from the actual tax provision to net operating
income.

The Company's management does not promote that investors consider the above
non-GAAP financial measures alone, or as a substitute for, financial
information prepared in accordance with GAAP.

                  -------------------------------------

Throughout this press release, the Company may make forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933,
as amended,and Section 21E of the Securities Exchange Act of 1934, as amended,
relating to such matters as anticipated operating results, prospects for
achieving the critical threshold of assets under management, technology
developments, economic trends (including interest rates and market volatility),
expected transactions and acquisitions and similar matters. The words
"believe," "expect," "anticipate," "estimate," "should," "hope," "seek,"
"plan," "intend" and similar expressions identify forward-looking statements
that speak only as of the date thereof.  While the Company believes that the
assumptions underlying its forward-looking statements are reasonable,
investors are cautioned that any of the assumptions could prove to be
inaccurate and accordingly, the actual results and experiences of the
Company could differ materially from the anticipated results or other
expectations expressed by the Company in its forward-looking statements.
Factors that could cause such actual results or experiences to differ from
results discussed in the forward-looking statements include, but are not
limited to: the adverse effect from a decline in the securities markets;
a decline in the performance of the Company's products; changes in interest
rates; a general or prolonged downturn in the economy; changes in
government policy and regulation, including monetary policy; changes in the
Company's ability to attract or retain key employees; unforeseen costs and
other effects related to legal proceedings or investigations of
governmental and self-regulatory organizations; and other risks identified
from time-to-time in the Company's other public documents on file with the
U.S. Securities and Exchange Commission.


					###

            325 John H. McConnell Blvd, Suite 200, Columbus, Ohio 43215
                         614-255-3333  info@diamond-hill.com
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
