DIAMOND HILL INVESTMENT GROUP Business Summary

Diamond Hill Investment Group Inc. (DHIL) is an independent active asset management firm that generates revenue primarily through tiered investment advisory fees derived from assets under management (AUM) and assets under advisement (AUA). The company’s business model is structured around three core segments: proprietary mutual funds (Diamond Hill Funds), separately managed accounts (SMAs), and sub-advised funds, with investment strategies spanning U.S. and international equities, alternative long-short equity, and fixed income. As of early 2026, the firm reported approximately $28.7 billion in total AUM, emphasizing a capacity-disciplined, value-driven approach to fundamental research. Diamond Hill operates as a specialized boutique manager within a competitive landscape that includes firms such as Virtus Investment Partners, Capital Southwest, and Oaktree Specialty Lending. The company is currently executing a definitive merger agreement to be acquired by First Eagle Investment Management for approximately $473 million, a transaction expected to close in mid-2026 that will transition the firm into a private subsidiary. The firm’s foundational investment philosophy was established by Ric Dillon, who transformed the predecessor entity into Diamond Hill in 2001. Current leadership is anchored by CEO and President Heather E. Brilliant, CFA, an industry veteran with a pedigree including roles as CEO of the Americas for First State Investments and Global Head of Equity & Credit Research at Morningstar. The executive suite includes CFO and Treasurer Thomas E. Line, who has managed the firm’s financial and compliance functions since 2015, and Jo Ann Quinif, the Chief Client Officer and President of Diamond Hill Capital Management. The Board of Directors, chaired by former Morningstar CFO Scott Cooley, was recently strengthened by the 2025 appointment of Diane Nordin, a former partner at Wellington Management. Notable institutional backing includes significant positions from Invesco Ltd. and Balyasny Asset Management, underscoring the firm’s standing among sophisticated global investors.