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Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

Disaggregation of Revenue

Revenue earned during the three months ended June 30, 2023 and 2022 under contracts with clients include:

			Three Months Ended June 30, 2023
			Investment advisory						Mutual fund administration, net						Total revenue
Diamond Hill Funds			$	20,921,423					$	1,850,194					$	22,771,617
Separately managed accounts			6,238,511						—						6,238,511
Other pooled vehicles			2,203,023						—						2,203,023
Model delivery			1,301,391						—						1,301,391
Collective investment trusts			836,095						—						836,095
			$	31,500,443					$	1,850,194					$	33,350,637
			Three Months Ended June 30, 2022
			Investment advisory						Mutual fund administration, net						Total revenue
Diamond Hill Funds			$	25,447,122					$	2,612,949					$	28,060,071
Separately managed accounts			6,570,811						—						6,570,811
Other pooled vehicles			2,371,716						—						2,371,716
Model delivery			1,510,245						—						1,510,245
Collective investment trusts			508,271						—						508,271
			$	36,408,165					$	2,612,949					$	39,021,114

Revenue earned during the six months ended June 30, 2023 and 2022 under contracts with clients include:

			Six Months Ended June 30, 2023
			Investment advisory						Mutual fund administration, net						Total revenue
Diamond Hill Funds			$	42,304,966					$	3,798,238					$	46,103,204
Separately managed accounts			12,502,872						—						12,502,872
Other pooled vehicles			4,334,704						—						4,334,704
Model delivery			2,663,144						—						2,663,144
Collective investment trusts			1,737,216						—						1,737,216
			$	63,542,902					$	3,798,238					$	67,341,140

			Six Months Ended June 30, 2022
			Investment advisory						Mutual fund administration, net						Total revenue
Diamond Hill Funds			$	52,702,050					$	5,590,449					$	58,292,499
Separately managed accounts			13,763,101						—						13,763,101
Other pooled vehicles			4,940,725						—						4,940,725
Model delivery			3,227,409						—						3,227,409
Collective investment trusts			1,053,766						—						1,053,766
			$	75,687,051					$	5,590,449					$	81,277,500

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 June 30, 2023:

			As of June 30, 2023
			AUM subject to performance-based fees						Unearned performance-based fees
Contractual Measurement Period Ending:
Quarter Ending September 30, 2023			$	479,984,100					$	1,128,047
Total			$	479,984,100					$	1,128,047

Mutual Fund Administration Gross and Net Revenue

Mutual fund administration gross and net revenue are summarized below:

			Three Months Ended   June 30,												Six Months Ended   June 30,
			2023						2022						2023						2022
Mutual fund administration:
Administration revenue, gross			$	5,339,453					$	6,481,081					$	10,756,328					$	13,421,253
Fund related expense			(3,489,259)						(3,868,132)						(6,958,090)						(7,830,804)
Mutual fund administration revenue, net			$	1,850,194					$	2,612,949					$	3,798,238					$	5,590,449

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Assets under management (AUM) subject to variable performance fees and variance performance fees.

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Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

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