Investment Portfolio (Notes)

12 Months Ended

Dec. 31, 2017

Investments, Debt and Equity Securities [Abstract]

As of December 31, 2017, the Company held investments (excluding money market funds, which are included with cash and cash equivalents) worth $138.5 million. The following table summarizes the carrying value of these investments as of December 31, 2017 and 2016:



	As of December 31,
	2017		2016
Trading investments:
Securities held in Consolidated Funds^(a)	$	65,890,500	$	57,355,471
Company sponsored investments	36,541,818		9,322,118
Company sponsored equity method investments	36,043,704		41,338,046
Total Investment portfolio	$	138,476,022	$	108,015,635

(a) Of the securities held in the Consolidated Funds as of December 31, 2017, $42.6 million were held directly by the Company and $23.3 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.

As of December 31, 2017, our equity method investees consisted of the Diamond Hill Research Opportunities Fund, the Diamond Hill High Yield Fund, DHGF and DHIEF, and our ownership percentages in these funds were 26%, 48%, 95%, and 30%, respectively. As of December 31, 2016, our equity method investees consisted of the Diamond Hill Mid Cap Fund, the Diamond Hill Research Opportunities Fund, the Diamond Hill High Yield Fund, and DHGF, and our ownership percentages in these funds were 33%, 27%, 20%, and 95%, respectively. The Company's equity method investments consist of cash, marketable equity securities and fixed income securities. The Company met the significant subsidiaries test for total equity method investments as of December 31, 2017 and is required to provide the summarized financial information for all equity method investments for all periods presented. The following table includes the condensed summary financial information from the Company's equity method investments as of December 31, 2017 and 2016 and for the years ended December 31, 2017, 2016 and 2015:



			As of December 31,
			2017		2016
Total assets			$	144,118,745	$	189,819,824
Total liabilities			38,009,765		45,931,979
Net assets			106,108,980		143,887,845
DHCM's portion of net assets			36,043,704		41,338,046

	For the Year Ended December 31,
	2017		2016		2015
Investment income	$	2,944,836	$	3,272,972	$	792,691
Expenses	1,176,896		1,409,896		5,506
Net realized gains	4,432,850		1,981,185		1,219,565
Net change in unrealized appreciation (depreciation)	5,613,627		10,458,073		(1,879,047		)
Net income	11,814,417		14,302,334		127,703
DHCM's portion of net income	3,206,702		4,392,636		124,825