Diamond Hill Investment Group, Inc. is a holding company with two subsidiary operating companies. Diamond Hill Capital Management, Inc. (DHCM) is a wholly owned subsidiary of the Company and a registered investment advisor. Diamond Hill Securities, Inc. (DHS) is a wholly owned subsidiary of DHCM and trades securities on a fully disclosed basis and clears customer transactions through an unaffiliated broker-dealer that also maintains the customer accounts. The Company operates primarily as a holding company with investment advisory services provided by DHCM and DHS and underwriting and broker-dealer operations conducted by DHS. It maintains an investment portfolio, primarily composed of mutual funds and the investment partnership, which are managed by DHCM.