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Investment Portfolio

3 Months Ended

Mar. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Investment Portfolio

Investments

The following table summarizes the carrying value of these investments as of March 31, 2019 and December 31, 2018:

	As of
	March 31, 2019				December 31, 2018
Fair value investments:
Securities held in Consolidated Funds(a)	$	78,997,408			$	153,730,480
Company sponsored investments	39,533,699				33,418,088
Company sponsored equity method investments	46,260,613				16,339,649
Total Investments	$	164,791,720			$	203,488,217

(a) Of the securities held in the Consolidated Funds as of March 31, 2019, $48.8 million were held directly by the Company and $30.2 million were held by noncontrolling shareholders. Of the securities held in the Consolidated Funds as of December 31, 2018, $84.7 million were held directly by the Company and $69.0 million were held by noncontrolling shareholders.

The Company deconsolidated the Diamond Hill High Yield Fund during the three months ended March 31, 2019. As of March 31, 2019, the Diamond Hill High Yield Fund was classified as an equity method investment.

In March of 2019, the Company determined to close and liquidate the ETF effective April 5, 2019. On March 26, 2019, the ETF liquidated its holdings and it held all cash as of March 31, 2019. The cash was distributed to all shareholders on April 5, 2019.

As of March 31, 2019, our equity method investments consisted of the Diamond Hill Research Opportunities Fund, the Diamond Hill High Yield Fund and the Diamond Hill International Equity Fund, and our ownership percentage in each of these investments was 28%, 39%, and 30%, respectively. 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, 2019:

	As of
	March 31, 2019
Total assets	$	171,333,153
Total liabilities	34,730,660
Net assets	136,602,493
DHCM's portion of net assets	46,260,613
	For the Three Months Ended
	March 31, 2019
Investment income	$	1,373,481
Expenses	291,103
Net realized gains	398,296
Net change in unrealized appreciation	8,205,267
Net income	9,685,941
DHCM's portion of net income	3,415,624

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- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2209399

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2324412

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI http://asc.fasb.org/topic&trid=2196928

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2176304

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