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Investments

9 Months Ended

Sep. 30, 2019

Investments, Debt and Equity Securities [Abstract]

Investments

Investments

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

	As of
	September 30, 2019				December 31, 2018
Fair value investments:
Securities held in Consolidated Funds(a)	$	29,635,079			$	153,730,480
Company sponsored investments	43,200,396				33,418,088
Company sponsored equity method investments	61,143,224				16,339,649
Total Investments	$	133,978,699			$	203,488,217

(a) Of the securities held in the Consolidated Funds as of September 30, 2019, $18.8 million were held directly by the Company and $10.8 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, Diamond Hill Core Bond Fund and the Diamond Hill High Yield Fund during the nine months ended September 30, 2019. The ETF liquidated and its assets were distributed to its shareholders on April 5, 2019.

As of September 30, 2019, our equity method investments consisted of the Diamond Hill Research Opportunities Fund and the Diamond Hill Core Bond Fund, and our ownership percentage in each of these investments was 22% and 38%, respectively. During the first half of 2019 there were periods of time where our ownership in the Diamond Hill International Equity Fund, L.P. and the Diamond Hill High Yield Fund was between 20% and 50% thus, a portion of their income is included in the table below for the nine months ended September 30, 2019.

The following table includes the condensed summary financial information from the Company's equity method investments as of and for the periods ended September 30, 2019:

					As of
					September 30, 2019
Total assets					$	236,700,619
Total liabilities					41,168,623
Net assets					195,531,996
DHCM's portion of net assets					61,143,224
	For the Three Months Ended				For the Nine Months Ended
	September 30, 2019				September 30, 2019
Investment income	$	962,281			$	4,148,489
Expenses	345,111				955,320
Net realized gains	858,741				5,243,737
Net change in unrealized appreciation	1,719,459				11,782,498
Net income	3,195,370				20,219,404
DHCM's portion of net income	1,196,750				7,014,994

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- Definition

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

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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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