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Investment Portfolio

9 Months Ended

Sep. 30, 2018

Investments, Debt and Equity Securities [Abstract]

Investment Portfolio

Investment Portfolio

As of September 30, 2018, the Company held investments (excluding money market funds, which are included with cash and cash equivalents) of $212.4 million. The following table summarizes the carrying value of these investments as of September 30, 2018 and December 31, 2017:

	As of
	September 30, 2018				December 31, 2017
Fair value investments:
Securities held in Consolidated Funds(a)	$	153,499,790			$	65,890,500
Company sponsored investments	38,757,226				36,541,818
Company sponsored equity method investments	20,132,461				36,043,704
Total Investment portfolio	$	212,389,477			$	138,476,022

(a) Of the securities held in the Consolidated Funds as of September 30, 2018, $85.9 million were held directly by the Company and $67.6 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 during 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 September 30, 2018, our equity method investments consisted of the Diamond Hill Research Opportunities Fund and DHIEF, and our ownership percentage in each of these investments was approximately 30%. The following table includes the condensed summary financial information from the Company's equity method investments as of and for the period ended September 30, 2018:

					As of
					September 30, 2018
Total assets					$	99,404,580
Total liabilities					31,473,525
Net assets					67,931,055
DHCM's portion of net assets					20,132,461
	For the Three Months Ended				For the Nine Months Ended
	September 30, 2018				September 30, 2018
Investment income	$	261,767			$	817,862
Expenses	228,936				712,938
Net realized gains	829,029				476,343
Net change in unrealized appreciation	1,374,838				1,688,384
Net income	2,236,698				2,269,651
DHCM's portion of net income	668,226				742,944

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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
-URI http://asc.fasb.org/topic&trid=2196928

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=4738149

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2176304

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2324412

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2209399

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 954
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2289146

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