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Investment Portfolio

3 Months Ended

Mar. 31, 2017

Investments, Debt and Equity Securities [Abstract]

Investment Portfolio

Investment Portfolio

As of March 31, 2017, the Company held investments (excluding money market funds, which are included with cash and cash equivalents) worth $117.4 million. The following table summarizes the carrying value of these investments as of March 31, 2017 and December 31, 2016:

	As of
	March 31, 2017			December 31, 2016
Trading investments:
Securities held in Consolidated Funds(a)	$	61,452,815		$	57,355,471
Company sponsored investments	6,459,664			20,245
Company sponsored equity method investments	30,827,940			36,457,449
Deferred compensation investments	18,683,617			14,182,470
Total Investment portfolio	$	117,424,036		$	108,015,635

(a) Of the securities held in the Consolidated Funds as of March 31, 2017, $43.9 million were held directly by the Company and $17.6 million were held by noncontrolling shareholders. Of the securities held in the Consolidated Funds as of December 31, 2016, $42.6 million were held directly by the Company and $14.7 million were held by noncontrolling shareholders.

The deferred compensation investments above consist of Diamond Hill Funds and relate to deferred compensation liabilities from both deferred compensation plans (refer to Note 5). As of March 31, 2017, trading investments and equity method investments held in deferred compensation investments were $12.8 million and $5.9 million, respectively. As of December 31, 2016, trading investments and equity method investments held in the deferred compensation investments were $9.3 million and $4.9 million, respectively.

As of March 31, 2017, our equity method investees consisted of the Diamond Hill Mid Cap Fund, the Diamond Hill Research Opportunities Fund, DHGF, and DHIEF and our ownership percentages in these funds were 23%, 22%, 95%, and 30%, respectively. The Company's equity method investments consist of cash, marketable equity securities and fixed income securities. The following table includes the condensed summary financial information from the Company's equity method investments as of and for the period ended March 31, 2017:

	As of
	March 31, 2017			December 31, 2016
Total assets	$	200,584,608		$	189,819,824
Total liabilities	45,863,330			45,931,979
Net assets	154,721,278			143,887,845
DHCM's portion of net assets	36,711,852			41,338,406
	For the Three Months Ended
	March 31, 2017			March 31, 2016
Investment income	$	458,399		$	355,853
Expenses	370,393			62,226
Net realized gains (losses)	1,299,286			(95,785		)
Net change in unrealized appreciation/depreciation	2,921,247			1,104,266
Net income	$	4,308,539		$	1,302,108
DHCM's portion of net income	1,416,849			646,565

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- References

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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
-Glossary Debt Security
-URI http://asc.fasb.org/extlink&oid=6509901

Reference 2: 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=73527792&loc=d3e27290-111563

Reference 3: 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 4: 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=73527792&loc=d3e27232-111563

Reference 5: 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

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=73527792&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 9
-URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27357-111563

Reference 9: 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=73527792&loc=d3e27405-111563

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