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Investment Portfolio

6 Months Ended

Jun. 30, 2019

Investments, Debt and Equity Securities [Abstract]

Investment Portfolio

Investments

The following table summarizes the carrying value of these investments as of June 30, 2019 and December 31, 2018:

	As of
	June 30, 2019				December 31, 2018
Fair value investments:
Securities held in Consolidated Funds(a)	$	83,249,245			$	153,730,480
Company sponsored investments	22,859,833				33,418,088
Company sponsored equity method investments	44,663,232				16,339,649
Total Investments	$	150,772,310			$	203,488,217

(a) Of the securities held in the Consolidated Funds as of June 30, 2019, $50.5 million were held directly by the Company and $32.8 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 ETF and the Diamond Hill High Yield Fund during the six months ended June 30, 2019. As of June 30, 2019, the Diamond Hill High Yield Fund was classified as an equity method investment. The ETF liquidated and its assets were distributed to its shareholders on April 5, 2019.

As of June 30, 2019, our equity method investments consisted of the Diamond Hill Research Opportunities Fund, the Diamond Hill High Yield Fund and the Diamond Hill International Fund, and our ownership percentage in each of these investments was 22%, 28%, 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 June 30, 2019:

					As of
					June 30, 2019
Total assets					$	218,298,706
Total liabilities					40,535,465
Net assets					177,763,241
DHCM's portion of net assets					44,663,232
	For the Three Months Ended				For the Six Months Ended
	June 30, 2019				June 30, 2019
Investment income	$	1,812,727			$	3,186,209
Expenses	359,106				650,208
Net realized gains	3,986,700				4,384,996
Net change in unrealized appreciation	1,857,772				10,063,039
Net income	7,298,093				16,984,036
DHCM's portion of net income	1,988,850				4,984,861

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
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-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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