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Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2024
Accounting Policies [Abstract]  
Disaggregation of Revenue
Revenue from contracts with clients that was earned during the three months ended March 31, 2024 and 2023, include:
Three Months Ended March 31, 2024
Investment advisoryMutual fund
administration, net		Total revenue
Diamond Hill Funds$22,095,183 $1,943,137 $24,038,320 
Separately managed accounts6,779,253 — 6,779,253 
Other pooled vehicles2,770,713 — 2,770,713 
Collective investment trusts1,397,010 — 1,397,010 
Model delivery1,309,634 — 1,309,634 
$34,351,793 $1,943,137 $36,294,930 
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 
Mutual Fund Administration Gross and Net Revenue
Mutual fund administration gross and net revenue are summarized below:
 Three Months Ended 
 March 31,
 20242023
Mutual fund administration:
Administration revenue, gross$5,718,610 $5,416,875 
Fund related expense(3,775,473)(3,468,831)
Mutual fund administration revenue, net$1,943,137 $1,948,044