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Investment Portfolio
 9 Months Ended
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