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):

                                 August 9, 2007

                       Diamond Hill Investment Group, Inc.
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             (Exact Name of Registrant as Specified in its Charter)

                                      Ohio
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                 (State or Other Jurisdiction of Incorporation)

             000-24498                              65-0190407
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      (Commission File Number)         (I.R.S. Employer Identification No.)

      325 John H. McConnell Blvd, Suite 200, Columbus, Ohio              43215
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      (Address of Principal Executive Offices)                    (Zip Code)

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


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          (Former Name or Former Address, if Changed Since Last Report)



<PAGE>

Item 1.02   Termination of a Material Definative Agreement
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On August 9, 2007, the Registrant announced that the Board of Directors and
James F. Laird, chief financial officer, have mutually agreed to terminate
Mr. Laird's employment agreement. Only the Registrant's CEO has an employment
agreement and there are no plans to seek agreements with others at the
Registrant.  Additionally Mr. Laird confirmed his commitment to remain in his
current position at the Registrant for the foreseeable future and the board
and CEO offered him their unqualified support.  The termination is further
described in the Registrant's press release dated August 9, 2007, a copy of
which is filed herewith as Exhibit 99.1 and incorporated herein by reference.

Item 2.02   Results of Operations and Financial Condition
---------   ---------------------------------------------

Registrant has reported its results of operations for the Fiscal Quarter
ended June 30, 2007, as described in Registrant's press release dated
August 9, 2007, a copy of which is filed herewith as Exhibit 99.1 and
incorporated herein by reference.

Item 8.00   Other Events
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The Board of Directors of the Registrant has approved a share buy back program
for up to 350,000 shares of common stock.  The buy back program, effective
immediately, is described in Registrant's press release dated August 9, 2007,
a copy of which is filed herewith as Exhibit 99.1 and incorporated herein by
reference.

Item 9.01   Financial Statements and Exhibits
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(d)  Exhibits

     99.1        Press release issued by the Registrant dated August 9, 2007.



                                    SIGNATURE
                                    ---------

     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: August 9, 2007                           By: /s/ James F. Laird
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                                            James F. Laird, Chief Financial
                                             Officer and Secretary