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Section 1: 8-K (8-K)

Document


 
United States
Securities and Exchange Commission
Washington, D.C. 20549
 
FORM 8-K
 

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 17, 2018
 

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DIAMOND HILL INVESTMENT GROUP, INC.
(Exact Name of Registrant as Specified in its Charter)
 
 
Ohio
 
000-24498
 
65-0190407
(State or other jurisdiction of
incorporation)
 
(Commission File Number)
 
(I.R.S. Employer
Identification No.)
325 John H. McConnell Blvd., Suite 200, Columbus, Ohio
43215
(Address of Principal Executive Offices)
(Zip Code)

Registrant's Telephone Number, Including Area Code: (614) 255-3333
 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐





Item 8.01 Other Events

Diamond Hill Investment Group, Inc. (the "Company") announced that Ric Dillon will retire from Diamond Hill Capital Management, Inc. as a portfolio manager effective June 30, 2018, as described in Company's press release dated May 17, 2018, a copy of which is filed herewith as Exhibit 99.1 and incorporated herein by reference.


Item 9.01.     Financial Statements and Exhibits

Exhibit No.
 
Description
99.1
 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
 
DIAMOND HILL INVESTMENT GROUP, INC.
 
 
 
 
Date:
May 21, 2018
By:
 
/s/ Thomas E. Line
 
 
 
 
Thomas E. Line, Chief Financial Officer








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Section 2: EX-99.1 (EXHIBIT 99.1)

Exhibit


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FOR IMMEDIATE RELEASE:    
Investor Contact:
Tom Line-Chief Financial Officer
614-255-5989 (tline@diamond-hill.com)
Media Contact:
Alysa Spittle - Communications Manager
614-641-2754 (aspittle@diamond-hill.com)


RIC DILLON TO RETIRE AS PORTFOLIO MANAGER FOR DIAMOND HILL
CAPITAL MANAGEMENT

Columbus, Ohio - May 17, 2018 - Ric Dillon will retire from Diamond Hill Capital Management, Inc. as a portfolio manager effective June 30, 2018. Mr. Dillon will continue in his role as Chairman of the Board for Diamond Hill Investment Group, Inc. Mr. Dillon has served as a portfolio manager for the Diamond Hill Long-Short Fund since its inception in June 2000. Most recently, he co-managed the Fund with Chris Bingaman and Jason Downey. Mr. Bingaman and Mr. Downey will continue to manage the Fund after Mr. Dillon’s retirement. Nate Palmer will join the Long-Short Fund as an assistant portfolio manager effective June 30, 2018 to provide additional analytical support. Mr. Palmer has been with the firm since 2009 and has served as a sector leader for the Information Technology and Telecommunications Services team since 2012.

Mr. Dillon joined Diamond Hill as Chief Executive Officer in May 2000 seeing an opportunity to build an investment management firm dedicated to intrinsic value investing. Over the course of 18 years, Diamond Hill expanded from six associates and approximately $25 million in assets under management at the end of 2000 to 116 associates and nearly $22 billion in assets under management today. From the beginning, Mr. Dillon placed a duty to clients at the top of the firm’s priority list. Staying true to this focus has positively impacted Diamond Hill’s clients, associates, shareholders, and the community.

“Ric’s energy, persistency, and optimism were crucially important over the years, especially in the early years as our firm was gaining its footing and eventually growing into a profitable organization,” said Chief Executive Officer Chris Bingaman. “I am grateful for his vision and mentorship through the years. Ric has given us an outstanding legacy on which to build, and I am confident that we will continue to serve clients with our key foundational values in place.”

Mr. Dillon also served as Diamond Hill’s Chief Executive Officer from 2000 to 2015. Prior to joining Diamond Hill, Mr. Dillon was a Portfolio Manager at Loomis Sayles & Co. and President and Chief Investment Officer of Dillon Capital Management.

About Diamond Hill:

We are an independent investment management firm with significant employee ownership and $21.6 billion in assets under management as of April 30, 2018. We provide services to institutions and individuals through mutual funds, institutional separate accounts, exchange traded funds, and private investment funds. Our strategies include long-only equity, alternative long-short equity, and fixed income. 

We serve our clients by providing investment strategies that deliver lasting value through a shared commitment to our intrinsic value-based investment philosophy, long-term perspective, disciplined approach and alignment with our clients’ interests. For more information visit www.diamond-hill.com.

Diamond Hill Capital Management, Inc. is a subsidiary of Diamond Hill Investment Group, Inc. (NASDAQ:DHIL).

DIAMOND-HILL.COM | 614.255.3333 | 325 JOHN H. MCCONNELL BLD | SUITE 200 | COLUMBUS, OHIO 43215

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