<SEC-DOCUMENT>0000909108-13-000027.txt : 20130802
<SEC-HEADER>0000909108-13-000027.hdr.sgml : 20130802
<ACCEPTANCE-DATETIME>20130802162010
ACCESSION NUMBER:		0000909108-13-000027
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20130802
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20130802
DATE AS OF CHANGE:		20130802

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:		131006729

	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-0802.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 2, 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))

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

Registrant has reported its results of operations for the fiscal quarter
ended June 30, 2013, as described in Registrant's press release dated
August 2, 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 August 2, 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: August 2, 2013			    By: /s/ James F. Laird
                                            -------------------------------
                                            James F. Laird, Chief Financial
                                             Officer and Secretary
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>ex991-0802.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 2013

Columbus, Ohio - August 2, 2013 - Diamond Hill Investment Group, Inc.
(the "Company") (NASDAQ:DHIL) today reported unaudited results for the quarter
ended June 30, 2013 and filed its Form 10-Q.  Whenever possible, we will
file and report on a Friday afternoon so that investors have a maximum amount
of time to digest the information contained therein.

<TABLE>
<CAPTION>
                                          Three Months Ended
                                               June 30,
                                          2013          2012            Change
<S>                                     <C>           <C>                 <C>
Revenue		                        $19,893,096   $16,160,855         23%
    Net operating income                  7,151,691     5,830,528         23%
    Operating margin                            36%           36%
Investment income (loss)                    728,725      (468,432)
Net income                                4,711,545     3,328,097         42%
Earnings per share                            $1.45         $1.07         36%
</TABLE>

<TABLE>
<CAPTION>
                                          Six Months Ended
                                               June 30,
                                          2013          2012            Change
<S>                                     <C>           <C>                 <C>
Revenue		                        $38,249,270   $32,775,075         17%
    Net operating income                 13,779,305    11,851,068         16%
    Operating margin                            36%           36%
Investment income                         2,553,384       803,299
Net income                               10,042,277     7,939,450         26%
Earnings per share                            $3.12         $2.59         20%
</TABLE>


<TABLE>
<CAPTION>
                                                            As Of
                                     June 30, 2013    December 31, 2012    June 30, 2012
<S>                                     <C>               <C>                  <C>
Assets under management (millions)        $10,427            $9,429               $9,164
Book value per share <F1>                  $12.06             $6.86               $10.74
Total outstanding shares                3,261,594         3,169,987            3,152,073

<FN>
<F1>
An $8 per share special dividend was paid in December 2012.
</FN>
</TABLE>

<TABLE>
Change in Assets Under Management
<CAPTION>
                                           For the Three Months Ended June 30,
(in millions)                                        2013        2012
<S>                                                  <C>         <C>
AUM at beginning of the period		             $10,574     $ 9,360
Net cash inflows (outflows)
     proprietary funds                                   218         137
     sub-advised funds                                  (782)        (15)
     institutional accounts                             (142)        133
                                                        (706)        255
Net market appreciation (depreciation) and income        559        (451)
Decrease during the period                              (147)       (196)
AUM at end of the period                             $10,427 	 $ 9,164
</TABLE>

<TABLE>
Change in Assets Under Management
<CAPTION>
                                           For the Six Months Ended June 30,
(in millions)                                        2013        2012
<S>                                                  <C>         <C>
AUM at beginning of the period		             $ 9,429     $ 8,671
Net cash inflows (outflows)
     proprietary funds                                   360         207
     sub-advised funds                                  (819)        (75)
     institutional accounts                             (175)         20
                                                        (634)        152
Net market appreciation and income                     1,632         341
Increase during the period                               998         493
AUM at end of the period                             $10,427 	 $ 9,164
</TABLE>


About Diamond Hill:
Diamond Hill is an independent investment management firm with significant
employee ownership and $10.4 billion in assets under management as of
June 30, 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 the Company and its subsidiaries.

The Company defines "net operating income after tax" as the Company's net
operating income less its income tax provision, excluding investment income
and the tax impact related to the investment income. 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
income 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>
<CAPTION>
                                                Three Months Ended June 30,
(in thousands, except per share data)                 2013       2012
<S>                                                 <C>        <C>
Net operating income, GAAP basis                    $  7,152   $  5,831
Non-GAAP adjustments:
Tax provision excluding impact of investment income    2,876      2,212
Net operating income after tax, non-GAAP basis      $  4,276      3,619

Net operating income after tax per share,
non-GAAP basis                                      $   1.32   $   1.17
</TABLE>

<TABLE>
<CAPTION>
                                                Six Months Ended June 30,
(in thousands, except per share data)                 2013       2012
<S>                                                 <C>        <C>
Net operating income, GAAP basis                    $ 13,779   $ 11,851
Non-GAAP adjustments:
Tax provision excluding impact of investment income    5,307      4,416
Net operating income after tax, non-GAAP basis      $  8,472      7,435

Net operating income after tax per share,
non-GAAP basis                                      $   2.63   $   2.42
</TABLE>


The tax provision excluding impact of investment income is calculated by
applying the tax rate calculated from the income statement 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
(the "Exchange Act"), relating to such matters as anticipated operating
results, prospects for achieving the critical threshold of AUM,
technological 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; changes in national and local economic and
political conditions, including the effects of implementation of the American
Taxpayer Relief Act of 2012 and the Jumpstart Our Business Startups Act
of 2012 and the continuing economic uncertainty in various parts of the world;
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 ("SEC").


325 John H. McConnell Blvd, Suite 200, Columbus, Ohio 43215
614-255-3333 info@diamond-hill.com





</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
