UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
Diamond Hill Investment Group, Inc.
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(Name of Issuer)
Common Stock, no par value
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(Title of Class of Securities)
25264R207
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(CUSIP Number)
December 31, 2008
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[_] Rule 13d-1(d)
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* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however,
see the Notes).
CUSIP No. 25264R207
---------------------
1. NAME OF REPORTING PERSONS
Arrow Capital Management, LLC
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [_]
(CUSIP Number)
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5. SOLE VOTING POWER
0
6. SHARED VOTING POWER
140,498
7. SOLE DISPOSITIVE POWER
0
8. SHARED DISPOSITIVE POWER
140,498
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
140,498
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS)
[_]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.75%
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO
CUSIP No. 25264R207
---------------------
1. NAME OF REPORTING PERSONS
Alexandre von Furstenberg
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [_]
(b) [X]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5. SOLE VOTING POWER
0
6. SHARED VOTING POWER
140,498
7. SOLE DISPOSITIVE POWER
0
8. SHARED DISPOSITIVE POWER
140,498
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
140,498
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS)
[_]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.75%
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
CUSIP No. 25264R207
---------------------
1. NAME OF REPORTING PERSONS
Mal Serure
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [_]
(b) [X]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5. SOLE VOTING POWER
0
6. SHARED VOTING POWER
137,948
7. SOLE DISPOSITIVE POWER
0
8. SHARED DISPOSITIVE POWER
137,948
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
137,948
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS)
[_]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.64%
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
CUSIP No. 25264R207
---------------------
Item 1(a). Name of Issuer:
Diamond Hill Investment Group, Inc.
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(b). Address of Issuer's Principal Executive Offices:
325 John H. McConnell Blvd.
Suite 200
Columbus, Ohio 43215
United States of America
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Item 2(a). Name of Persons Filing:
Arrow Capital Management, LLC
Alexandre von Furstenberg
Mal Serure
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(b). Address of Principal Business Office, or if None, Residence:
Arrow Capital Management, LLC
499 Park Avenue
New York, NY 10022
United States of America
Alexandre von Furstenberg
c/o Arrow Capital Management, LLC
499 Park Avenue
New York, NY 10022
United States of America
Mal Serure
c/o Arrow Capital Management, LLC
499 Park Avenue
New York, NY 10022
United States of America
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(c). Citizenship:
Arrow Capital Management, LLC - Delaware
Alexandre von Furstenberg - United States of America
Mal Serure - United States of America
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(d). Title of Class of Securities:
Common Stock, no par value
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(e). CUSIP Number:
25264R207
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Item 3. If This Statement is filed pursuant to ss.240.13d-1(b) or
240.13d-2(b), or (c), check whether the person filing is a:
(a) [_] Broker or dealer registered under Section 15 of the Exchange Act
(15 U.S.C. 78c).
(b) [_] Bank as defined in Section 3(a)(6) of the Exchange Act (15
U.S.C. 78c).
(c) [_] Insurance company as defined in Section 3(a)(19) of the Exchange
Act (15 U.S.C. 78c).
(d) [_] Investment company registered under Section 8 of the Investment
Company Act of 1940 (15 U.S.C. 80a-8).
(e) [ ] An investment adviser in accordance with s.240.13d-1(b)(1)(ii)(E);
(f) [_] An employee benefit plan or endowment fund in accordance with
s.240.13d-1(b)(1)(ii)(F);
(g) [_] A parent holding company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G);
(h) [_] A savings association as defined in Section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C.1813);
(i) [_] A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3);
(j) [_] Group, in accordance with s.240.13d-1(b)(1)(ii)(J).
Item 4. Ownership.
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned:
Arrow Capital Management, LLC - 140,498
Alexandre von Furstenberg - 140,498
Mal Serure - 137,948
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(b) Percent of class:
Arrow Capital Management, LLC - 5.75%
Alexandre von Furstenberg - 5.75%
Mal Serure - 5.64%
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(c) Number of shares as to which the person has:
Arrow Capital Management, LLC
-----------------------------
(i) Sole power to vote or to direct the vote 0
--------------,
(ii) Shared power to vote or to direct the vote 140,498
--------------,
(iii) Sole power to dispose or to direct the 0
disposition of --------------,
(iv) Shared power to dispose or to direct the 140,498
disposition of --------------.
Alexandre von Furstenberg
-------------------------
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote 0
--------------,
(ii) Shared power to vote or to direct the vote 140,498
--------------,
(iii) Sole power to dispose or to direct the 0
disposition of --------------,
(iv) Shared power to dispose or to direct the 140,498
disposition of --------------.
Mal Serure
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(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote 0
--------------,
(ii) Shared power to vote or to direct the vote 137,948
--------------,
(iii) Sole power to dispose or to direct the 0
disposition of --------------,
(iv) Shared power to dispose or to direct the 137,948
disposition of --------------.
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Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following [ ].
N/A
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Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of, such
securities, a statement to that effect should be included in response to this
item and, if such interest relates to more than five percent of the class, such
person should be identified. A listing of the shareholders of an investment
company registered under the Investment Company Act of 1940 or the beneficiaries
of employee benefit plan, pension fund or endowment fund is not required.
N/A
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Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company or Control
Person.
If a parent holding company or Control person has filed this schedule,
pursuant to Rule 13d-1(b)(1)(ii)(G), so indicate under Item 3(g) and attach an
exhibit stating the identity and the Item 3 classification of the relevant
subsidiary. If a parent holding company or control person has filed this
schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating
the identification of the relevant subsidiary.
N/A
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Item 8. Identification and Classification of Members of the Group.
If a group has filed this schedule pursuant to s.240.13d-1(b)(1)(ii)(J), so
indicate under Item 3(j) and attach an exhibit stating the identity and Item 3
classification of each member of the group. If a group has filed this schedule
pursuant to s.240.13d-1(c) or s.240.13d-1(d), attach an exhibit stating the
identity of each member of the group.
N/A
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Item 9. Notice of Dissolution of Group.
Notice of dissolution of a group may be furnished as an exhibit stating the
date of the dissolution and that all further filings with respect to
transactions in the security reported on will be filed, if required, by members
of the group, in their individual capacity. See Item 5.
N/A
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Item 10. Certification.
By signing below we certify that, to the best of our knowledge and
belief, the securities referred to above were not acquired and are not
held for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired and
are not held in connection with or as a participant in any transaction
having such purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of our knowledge and belief, we
certify that the information set forth in this statement is true, complete and
correct.
February 12, 2009
---------------------------------------
(Date)
Arrow Capital Management, LLC*
By: /s/ Mal Serure
------------------------------
Name: Mal Serure
Title: Managing Member
/s/ Alexandre von Furstenberg*
---------------------------------
Alexandre von Furstenberg
/s/ Mal Serure*
---------------------------------
Mal Serure
* The Reporting Persons disclaim beneficial ownership of the securities reported
herein except to the extent of their pecuniary interest therein.
Attention. Intentional misstatements or omissions of fact constitute federal
criminal violations (see 18 U.S.C. 1001).
Exhibit A
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AGREEMENT
The undersigned agree that this amendment to Schedule 13G dated
February 12, 2009, relating to the Common Stock, no par value, of Diamond Hill
Investment Group, Inc. shall be filed on behalf of the undersigned.
Arrow Capital Management, LLC
By: /s/ Mal Serure
------------------------------
Name: Mal Serure
Title: Managing Member
/s/ Alexandre von Furstenberg
---------------------------------
Alexandre von Furstenberg
/s/ Mal Serure
---------------------------------
Mal Serure
SK 21739 0002 963471