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Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2023
Accounting Policies [Abstract]  
Disaggregation of Revenue
Revenue earned during the three months ended March 31, 2023 and 2022 under contracts with clients include:
Three Months Ended March 31, 2023
Investment advisoryMutual fund
administration, net		Total revenue
Diamond Hill Funds$21,383,543 $1,948,044 $23,331,587 
Separately managed accounts6,264,361 — 6,264,361 
Other pooled vehicles2,131,681 — 2,131,681 
Model delivery1,361,753 — 1,361,753 
Collective investment trusts901,121 — 901,121 
$32,042,459 $1,948,044 $33,990,503 
Three Months Ended March 31, 2022
Investment advisoryMutual fund
administration, net		Total revenue
Diamond Hill Funds$27,254,928 $2,977,500 $30,232,428 
Separately managed accounts7,192,290 — 7,192,290 
Other pooled vehicles2,569,009 — 2,569,009 
Model delivery1,717,164 — 1,717,164 
Collective investment trusts545,495 — 545,495 
$39,278,886 $2,977,500 $42,256,386 
Assets under Management (AUM) Subject to Incentive Fees and Incentive Fees The table below shows AUM subject to performance-based fees and the amount of performance-based fees that would be recognized based upon investment results as of March 31, 2023:
As of March 31, 2023
 AUM subject to performance-based feesUnearned performance-based fees
Contractual Measurement Period Ending:
Quarter Ending September 30, 2023$451,836,353 $547,410 
Total$451,836,353 $547,410 
Mutual Fund Administration Gross and Net Revenue
Mutual fund administration gross and net revenue are summarized below:
 Three Months Ended 
 March 31,
 20232022
Mutual fund administration:
Administration revenue, gross$5,416,875 $6,940,172 
Fund related expense(3,468,831)(3,962,672)
Mutual fund administration revenue, net$1,948,044 $2,977,500