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Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Disaggregation of Revenue

Revenue from contracts with clients that was earned during the three months ended June 30, 2024 and 2023 include:

			Three Months Ended June 30, 2024
			Investment advisory						Mutual fund administration, net						Total revenue
Diamond Hill Funds			$	22,559,374					$	1,820,208					$	24,379,582
Separately managed accounts			6,605,780						—						6,605,780
Other pooled vehicles			2,873,703						—						2,873,703
Collective investment trusts			1,568,385						—						1,568,385
Model delivery			1,233,883						—						1,233,883
			$	34,841,125					$	1,820,208					$	36,661,333
			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

Revenue from contracts with clients that was earned during the six months ended June 30, 2024 and 2023, include:

			Six Months Ended June 30, 2024
			Investment advisory						Mutual fund administration, net						Total revenue
Diamond Hill Funds			$	44,654,558					$	3,763,345					$	48,417,903
Separately managed accounts			13,385,128						—						13,385,128
Other pooled vehicles			5,644,416						—						5,644,416
Collective investment trusts			2,965,395						—						2,965,395
Model delivery			2,543,421						—						2,543,421
			$	69,192,918					$	3,763,345					$	72,956,263

			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

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,
			2024						2023						2024						2023
Mutual fund administration:
Administration revenue, gross			$	5,930,195					$	5,339,453					$	11,648,804					$	10,756,328
Fund related expense			(4,109,987)						(3,489,259)						(7,885,459)						(6,958,090)
Mutual fund administration revenue, net			$	1,820,208					$	1,850,194					$	3,763,345					$	3,798,238

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- Definition

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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