<SEC-DOCUMENT>0000950103-25-016037.txt : 20251211
<SEC-HEADER>0000950103-25-016037.hdr.sgml : 20251211
<ACCEPTANCE-DATETIME>20251211172200
ACCESSION NUMBER:		0000950103-25-016037
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20251211
DATE AS OF CHANGE:		20251211

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DIAMOND HILL INVESTMENT GROUP INC
		CENTRAL INDEX KEY:			0000909108
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		ORGANIZATION NAME:           	02 Finance
		EIN:				650190407
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24498
		FILM NUMBER:		251565837

	BUSINESS ADDRESS:	
		STREET 1:		325 JOHN H MCCONNELL BLVD
		STREET 2:		SUITE 200
		CITY:			COLUMBUS
		STATE:			OH
		ZIP:			43215
		BUSINESS PHONE:		6142553333

	MAIL ADDRESS:	
		STREET 1:		325 JOHN H MCCONNELL BLVD
		STREET 2:		SUITE 200
		CITY:			COLUMBUS
		STATE:			OH
		ZIP:			43215

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BANC STOCK GROUP INC
		DATE OF NAME CHANGE:	19971016

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HEARTLAND GROUP OF COMPANIES INC
		DATE OF NAME CHANGE:	19940301

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HEARTLAND FINANCIAL GROUP INC
		DATE OF NAME CHANGE:	19930714
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>dp238639_defa14a-linkedin.htm
<DESCRIPTION>FORM DEFA14A
<TEXT>
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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;
&nbsp;&nbsp;&nbsp;Filed by Diamond Hill Investment Group, Inc.</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;Commission File No.: 000-24498</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Pursuant to Rule 14a-12</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;of
the Securities Exchange Act of 1934</FONT></P>

<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The following material was posted to the
Diamond Hill Investment Group, Inc. (&ldquo;DHIL&rdquo;) LinkedIn page on December 11, 2025 in connection with the proposed acquisition
of DHIL by First Eagle Investment Management, LLC.</FONT><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">We are excited to&nbsp;announce&nbsp;that
Diamond Hill has&nbsp;agreed&nbsp;to&nbsp;join&nbsp;@First Eagle Investments, a privately owned investment management firm focused on
active, fundamental and benchmark-agnostic investing, with a strong emphasis on downside protection. Read the&nbsp;press release&nbsp;here
[LINK].&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Our clients have always been&nbsp;at&nbsp;the
center of everything we do, and&nbsp;we are proud of the growth and partnerships we have created over our 25-year history. This partnership
with First Eagle is an opportunity to accelerate the evolution of our strong foundation,&nbsp;while preserving the same investment philosophy
and&nbsp;disciplined&nbsp;approach Diamond Hill clients&nbsp;rely on.&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">We look forward to this next chapter
and to building on our legacy of investment excellence together with First Eagle.&nbsp;</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Cautionary Note Regarding Forward-Looking
Statements</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">This communication,
the documents incorporated herein by reference and statements, whether oral or written, made from time to time by representatives of
Diamond Hill Investment Group, Inc. (&ldquo;Diamond Hill&rdquo;), may contain or incorporate &ldquo;forward-looking statements&rdquo;
within the meaning of federal securities laws. Forward-looking statements include, but are not limited to, statements regarding anticipated
operating results, prospects and levels of assets under management, technological developments, economic trends (including interest rates
and market volatility), expected transactions and similar matters. These forward-looking statements may include, without limitation,
any statements preceded by, followed by or including words such as &ldquo;may,&rdquo; &ldquo;could,&rdquo; &ldquo;can have,&rdquo; &ldquo;believe,&rdquo;
&ldquo;expect,&rdquo; &ldquo;aim,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;target,&rdquo; &ldquo;goal,&rdquo; &ldquo;project,&rdquo; &ldquo;assume,&rdquo;
&ldquo;budget,&rdquo; &ldquo;potential,&rdquo; &ldquo;estimate,&rdquo; &ldquo;guidance,&rdquo; &ldquo;forecast,&rdquo; &ldquo;outlook,&rdquo;
&ldquo;would,&rdquo; &ldquo;will,&rdquo; &ldquo;continue,&rdquo; &ldquo;likely,&rdquo; &ldquo;should,&rdquo; &ldquo;hope,&rdquo; &ldquo;seek,&rdquo;
&ldquo;plan,&rdquo; &ldquo;intend,&rdquo; and variations of such words and similar expressions. Similarly, descriptions of the Company&rsquo;s
objectives, strategies, plans, goals, or targets are also forward-looking statements. Such forward-looking statements include but are
not limited to statements about the proposed transaction between Diamond Hill and First Eagle Investment Management, LLC (&ldquo;First
Eagle&rdquo;) (the &ldquo;Transaction&rdquo;), including the expected timetable for completing the Transaction and statements that are
not historical facts.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Forward-looking
statements are based on the Company&rsquo;s expectations at the time such statements are made, speak only as of the dates they are made
and are susceptible to a number of risks, uncertainties and other factors. While the Company believes that the assumptions underlying
its forward-looking statements are reasonable, investors are cautioned that any of the assumptions could prove to be inaccurate and,
accordingly, the Company's actual results and experiences may differ materially from the anticipated results or other expectations expressed
in its forward-looking statements. Factors that may cause the Company&rsquo;s actual results or experiences to differ materially from
results discussed in forward-looking statements include, but are not limited to the factors discussed in the section entitled &ldquo;Risk
Factors&rdquo; in the Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and Quarterly Reports on
Form 10-Q for the fiscal quarters ended March 31, 2025, June 30, 2025 and September 30, 2025, each as filed with the Securities and Exchange
Commission (&ldquo;SEC&rdquo;), and any factors discussed in the section entitled &ldquo;Risk Factors&rdquo; in any of our subsequently
filed SEC filings, and the following: (i) the occurrence of any event, change, or other circumstance that could give rise to the right
of one or both of the parties to terminate the definitive transaction agreement between the Company and First Eagle, including in circumstances
requiring the Company to pay a termination fee; (ii) potential litigation relating to the Transaction that could be instituted against
the parties to the definitive transaction agreement or their respective directors or officers, including the effects of any outcomes
related thereto; (iii) the possibility that the Transaction does not close when expected or at all because required regulatory, shareholder,
or other approvals and other conditions to closing are not received or satisfied on a timely basis or at all; (iv) reputational risk
and potential adverse reactions of clients, employees or other business partners and the businesses generally, including those resulting
from the announcement of the Transaction, including any resulting reduction in the Company&rsquo;s AUM or AUA and the withdrawal, renegotiation
or termination of any investment advisory agreements; (v)</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">the risk that any
announcements relating to the Transaction could have adverse effects on the market price of the Company&rsquo;s common stock; (vi) significant
transaction costs associated with the Transaction; and (vii) the diversion of management&rsquo;s attention and time from ongoing business
operations and opportunities on Transaction-related matters.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt; font-style: normal; font-weight: normal">Forward-looking
statements attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary
statements above and in the Company&rsquo;s other public documents on file with the SEC. New risks and uncertainties arise from time
to time, and factors that the Company currently deems immaterial may become material, and it is impossible for the Company to predict
these events or how they may affect it. The Company undertakes no obligation to update any forward-looking statements after the date
they are made, whether as a result of new information, future events, changes in its expectations or developments or otherwise, except
as required by law, although it may do so from time to time. The Company does not endorse any projections regarding future performance
that may be made by third parties. </FONT></P>

<P STYLE="font: italic 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt; font-style: normal">Additional
Information and Where to Find It</FONT></P>

<P STYLE="font: italic bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">This
communication does not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities. This communication
relates to the Transaction. In connection with the Transaction, Diamond Hill plans to file with the SEC a proxy statement on Schedule
14A (the &ldquo;Proxy Statement&rdquo;). This communication is not a substitute for the Proxy Statement or any other document that Diamond
Hill may file with the SEC and send to its shareholders in connection with the Transaction. The Transaction will be submitted to Diamond
Hill&rsquo;s shareholders for their consideration. Before making any voting decision, Diamond Hill&rsquo;s shareholders are urged to
read all relevant documents filed or to be filed with the SEC, including the Proxy Statement, as well as any amendments or supplements
to those documents, when they become available, because they will contain important information about Diamond Hill and the Transaction.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Diamond Hill&rsquo;s
shareholders will be able to obtain a free copy of the Proxy Statement, as well as other filings containing information about Diamond
Hill, free of charge, at the SEC&rsquo;s website (www.sec.gov). Copies of the Proxy Statement and other documents filed by Diamond Hill
with the SEC may be obtained, without charge, by contacting Diamond Hill through its website at <FONT STYLE="color: Blue"><U>www.diamond-hill.com</U></FONT>.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Participants in the Solicitation</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Diamond
Hill, its directors, executive officers and other persons related to Diamond Hill may be deemed to be participants in the solicitation
of proxies from Diamond Hill&rsquo;s shareholders in connection with the Transaction. Information about the directors and executive officers
of Diamond Hill and their ownership of common stock of Diamond Hill is set forth in the section entitled &ldquo;Executive Officer Stock
Ownership and Retention Guidelines&rdquo; in Diamond Hill&rsquo;s proxy statement for its 2025 annual meeting of stockholders, which
was filed with the SEC on March 14, 2025 (and which is available at <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000909108/000090910825000014/dhil-20250311.htm">https://www.sec.gov/ix?doc=/Archives/edgar/data/0000909108/000090910825000014/dhil-20250311.htm</A>).
To the extent that holdings of Diamond Hill&rsquo;s securities by its directors or executive officers have changed since the amounts
printed in Diamond Hill&rsquo;s proxy statement, such changes have been or will be reflected on Initial Statements of Beneficial Ownership
of Securities on Form 3 and Statements of Changes in Beneficial Ownership on Form 4 filed with the SEC.&nbsp;Additional information regarding
the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise,
will be included in the Proxy Statement and other relevant materials to be filed with the SEC in connection with the Transaction when
they</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">become
available. Free copies of these documents may be obtained as described in the preceding paragraph.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>No
Offer or Solicitation</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">This
communication is for informational purposes only and is not intended to and shall not constitute an offer to buy or sell or the solicitation
of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there by any sale of securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities
law of any such jurisdiction.</FONT></P>

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