Investment Portfolio

3 Months Ended

Mar. 31, 2018

Investments, Debt and Equity Securities [Abstract]

As of March 31, 2018, the Company held investments (excluding money market funds, which are included with cash and cash equivalents) worth $191.5 million. The following table summarizes the carrying value of these investments as of March 31, 2018 and December 31, 2017:



	As of
	March 31, 2018		December 31, 2017
Trading investments:
Securities held in Consolidated Funds^(a)	$	136,883,340	$	65,890,500
Company sponsored investments	35,935,489		36,541,818
Company sponsored equity method investments	18,725,036		36,043,704
Total Investment portfolio	$	191,543,865	$	138,476,022

(a) Of the securities held in the Consolidated Funds as of March 31, 2018, $82.9 million were held directly by the Company and $54.0 million were held by noncontrolling shareholders. 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.

New consolidations of Company sponsored investments of $16.4 million in the quarter ended March 31, 2018 included the consolidation of the Diamond Hill Global Fund and the Diamond Hill High Yield Fund. As of December 31, 2017, these investments were classified as equity method investments.

As of March 31, 2018, our equity method investees consisted of the Diamond Hill Research Opportunities Fund and DHIEF and our ownership percentages in these investments were 29% 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, 2018:



	As of
	March 31, 2018
Total assets	$	95,706,817
Total liabilities	31,817,263
Net assets	63,889,554
DHCM's portion of net assets	18,725,036

	For the Three Months Ended
	March 31, 2018
Investment income	$	263,152
Expenses	239,059
Net realized losses	(978,480		)
Net change in unrealized appreciation/depreciation	(1,775,545		)
Net loss	(2,729,932		)
DHCM's portion of net loss	(785,939		)