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Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

Disaggregation of Revenue

Revenue from contracts with clients that was earned during the three months ended September 30, 2023 and 2022 include:

			Three Months Ended September 30, 2023
			Investment advisory						Mutual fund administration, net						Total revenue
Diamond Hill Funds			$	21,714,872					$	1,885,929					$	23,600,801
Separately managed accounts, excluding performance-based fees			6,150,388						—						6,150,388
Performance-based fees			1,176,351						—						1,176,351
Other pooled vehicles			2,451,019						—						2,451,019
Model delivery			1,306,460						—						1,306,460
Collective investment trusts			869,261						—						869,261
			$	33,668,351					$	1,885,929					$	35,554,280
			Three Months Ended September 30, 2022
			Investment advisory						Mutual fund administration, net						Total revenue
Diamond Hill Funds			$	24,072,698					$	2,422,591					$	26,495,289
Separately managed accounts, excluding performance-based fees			6,163,236						—						6,163,236
Performance-based fees			1,500,225						—						1,500,225
Other pooled vehicles			2,260,465						—						2,260,465
Model delivery			1,358,517						—						1,358,517
Collective investment trusts			486,942						—						486,942
			$	35,842,083					$	2,422,591					$	38,264,674

Revenue from contracts with clients that was earned during the nine months ended September 30, 2023 and 2022 include:

			Nine Months Ended September 30, 2023
			Investment advisory						Mutual fund administration, net						Total revenue
Diamond Hill Funds			$	64,019,839					$	5,684,167					$	69,704,006
Separately managed accounts, excluding performance-based fees			18,653,260						—						18,653,260
Performance-based fees			1,176,351						—						1,176,351
Other pooled vehicles			6,785,722						—						6,785,722
Model delivery			3,969,604						—						3,969,604
Collective investment trusts			2,606,477						—						2,606,477
			$	97,211,253					$	5,684,167					$	102,895,420

			Nine Months Ended September 30, 2022
			Investment advisory						Mutual fund administration, net						Total revenue
Diamond Hill Funds			$	76,774,749					$	8,013,040					$	84,787,789
Separately managed accounts, excluding performance-based fees			19,926,337						—						19,926,337
Performance-based fees			1,500,225						—						1,500,225
Other pooled vehicles			7,201,190						—						7,201,190
Model delivery			4,585,925						—						4,585,925
Collective investment trusts			1,540,708						—						1,540,708
			$	111,529,134					$	8,013,040					$	119,542,174

Mutual Fund Administration Gross and Net Revenue

Mutual fund administration gross and net revenue are summarized below:

			Three Months Ended   September 30,												Nine Months Ended   September 30,
			2023						2022						2023						2022
Mutual fund administration:
Administration revenue, gross			$	5,491,424					$	6,129,695					$	16,247,752					$	19,550,947
Fund related expense			(3,605,495)						(3,707,104)						(10,563,585)						(11,537,907)
Mutual fund administration revenue, net			$	1,885,929					$	2,422,591					$	5,684,167					$	8,013,040

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Mutual fund administration gross and net revenue.

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- Definition

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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