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Investment Portfolio | 9 Months Ended
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Sep. 30, 2014
Investments, Debt and Equity Securities [Abstract] |
Investment Portfolio | Investment Portfolio As of September 30, 2014, the Company held investments (excluding money market funds, which are included with cash and cash equivalents) worth $35.0 million with an estimated cost basis of $27.0 million. The following table summarizes the fair value of these investments as of September 30, 2014 and December 31, 2013:
| As of
| September 30, 2014 |  | December 31, 2013
Seed Capital Investments: |  |  |
Diamond Hill Research Opportunities Fund | $ | 13,619,318 |  |  | $ | 13,305,830 |
Diamond Hill Mid Cap Fund | 10,199,901 |  |  | — |
Diamond Hill Valuation-Weighted 500, L.P. | 3,259,028 |  |  | 3,000,328 |
Diamond Hill Global Fund, L.P. | 1,452,249 |  |  | — |
Diamond Hill Financial Long-Short Fund | 1,154,780 |  |  | 1,131,034 |
Diamond Hill Investment Partners, L.P. | — |  |  | 1,133 |
Total Seed Capital Investments | 29,685,276 |  |  | 17,438,325 |
Deferred Compensation Investments | 5,304,623 |  |  | 1,287,745 |
Total Investment Portfolio | $ | 34,989,899 |  |  | $ | 18,726,070 |
The deferred compensation investments above consists of Diamond Hill Funds and relate to deferred compensation liabilities from both deferred compensation plans (refer to Note 5) and other deferred compensation arrangements. DHCM is the managing member of the General Partner, which is the general partner of the Partnerships. The underlying assets of the Partnerships are cash and marketable equity securities. Summary financial information, including the Company’s carrying value and income from the Partnerships, is as follows:
| As of
| September 30, 2014 |  | December 31, 2013
Total partnership assets | $ | 112,580,280 |  |  | $ | 122,106,403 |
Total partnership liabilities | 20,624,650 |  |  | 25,217,600 |
Net partnership assets | $ | 91,955,630 |  |  | $ | 96,888,803 |
DHCM’s portion of net assets | $ | 4,711,277 |  |  | $ | 3,001,461 |
| For the Nine Months Ended |  | For the Year Ended
| September 30, 2014 |  | December 31, 2013
Net partnership income | $ | 4,682,472 |  |  | $ | 24,294,495 |
DHCM’s portion of net income | $ | 286,013 |  |  | $ | 899,958 |

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27290-111563 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27357-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Debt Security -URI http://asc.fasb.org/extlink&oid=6509901 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27232-111563 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27161-111563 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27405-111563 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Equity Security -URI http://asc.fasb.org/extlink&oid=6511694 + Details
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