<SEC-DOCUMENT>0000909108-13-000014.txt : 20130301
<SEC-HEADER>0000909108-13-000014.hdr.sgml : 20130301
<ACCEPTANCE-DATETIME>20130301161829
ACCESSION NUMBER:		0000909108-13-000014
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20130301
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20130301
DATE AS OF CHANGE:		20130301

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:		13657864

	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-0301.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):

                                 March 1, 2013

                       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 year
ended December 31, 2012, as described in Registrant's press release dated
March 1, 2013, 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 March 1, 2013.



                                    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: March 1, 2013			    By: /s/ James F. Laird
                                            -------------------------------
                                            James F. Laird, Chief Financial
                                             Officer and Secretary
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>ex991-0301.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 2012 FINANCIAL RESULTS

	Columbus, Ohio - March 1, 2013 - Diamond Hill Investment Group, Inc.
(the "Company") (NASDAQ:DHIL) today reported results for the year ended
December 31, 2012.  The Company plans to file its 2012 Form 10-K on Friday,
March 8, 2013 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.


<TABLE>
Summary of Results of Operations
(in thousands, except per share figures)
<CAPTION>
                                        Three Months Ended                                  Year Ended
                                            December 31,                 %                  December 31,          %
                                          2012        2011            Change             2012          2011     Change
<S>                                     <C>         <C>                 <C>            <C>         <C>           <C>
Revenues:
       Investment advisory              $   14,689  $   13,311          10%            $   57,783  $   56,016     3%
       Mutual fund administration, net       2,282       1,879          21%                 8,822       7,822    13%
       Total Revenue                        16,971      15,190          12%                66,605      63,838     4%

Operating Expenses                          10,424       8,873          17%                42,176      40,777     3%
Net Operating Income                         6,547       6,317           4%                24,429      23,061     6%

       Investment Income                       229         781                              1,654        (67)

Net Income Before Taxes                      6,776       7,098          -5%                26,083      22,994    13%
Net Income                              $    4,825  $    4,453           8%            $   16,931  $   14,353    18%

Earnings per share                      $     1.53  $     1.49           3%            $     5.44  $     4.86    12%
Operating profit margin                        39%         42%                                37%         36%
Net client cash flows                   $(298,500)  $   69,400                         $(219,200)  $    3,200
</TABLE>

<TABLE>
Selected Balance Sheet Data
(in thousands, except per share figures)
<CAPTION>
                                                      December 31,
                                                     2012      2011
<S>                                                 <C>       <C>
Assets
       Cash equivalents and investment portfolio    $ 24,375  $ 23,451
       Accounts receivable                            10,439    10,296
       Deferred tax asset                              2,452     2,083
       Other assets                                    3,970     1,890
       Total assets                                 $ 41,236  $ 37,720

Liabilities                                           19,500    19,670

Total shareholders' equity                            21,736    18,050

Total liabilities and shareholders' equity          $ 41,236  $ 37,720

Book value per share<F1>                            $   6.86  $   6.03
Outstanding shares                                     3,170     2,996
<FN>
<F1>
An $8 per share special dividend was paid in December 2012 and a $5 per share special dividend was paid in December 2011.
</FN>
</TABLE>


<TABLE>
Change in Assets Under Management
(in millions)
<CAPTION>
                                                    For the Year Ended
                                                       December 31,
                                                     2012       2011
<S>                                                  <C>      <C>
AUM at beginning of the year                         $ 8,671  $ 8,623
Net cash inflows (outflows)
       proprietary funds                                 429       56
       sub-advised funds                                (149)      21
       institutional accounts                           (499)     (74)
                                                        (219)       3
Net market appreciation and income                       977       45
Increase during the year                                 758       48
AUM at end of the year                               $ 9,429  $ 8,671
</TABLE>


About Diamond Hill:
Diamond Hill is an independent investment management firm with significant
employee ownership and $10.1 billion in assets under management as of
January 31, 2013.  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.

<TABLE>
(in thousands, except per share data)
<CAPTION>
                                                   Year Ended December 31,
                                                      2012       2011
<S>                                                 <C>        <C>
Net operating income, GAAP basis                    $ 24,429   $ 23,061
Non-GAAP adjustments:
Tax provision excluding impact of investment income    8,572      8,667
Net operating income after tax, non-GAAP basis      $ 15,857   $ 14,394

Net operating income after tax per share,
non-GAAP basis                                      $   5.10   $   4.88
</TABLE>

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>
