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Investments

3 Months Ended

Mar. 31, 2020

Investments, Debt and Equity Securities [Abstract]

Investments

Investments

The following table summarizes the carrying value of these investments as of March 31, 2020 and December 31, 2019:

	As of
	March 31, 2020				December 31, 2019
Fair value investments:
Securities held in Consolidated Funds(a)	$	26,043,249			$	36,248,360
Company sponsored investments	21,579,691				42,039,044
Company sponsored equity method investments	56,896,124				61,149,774
Total Investments	$	104,519,064			$	139,437,178

(a) Of the securities held in the Consolidated Funds as of March 31, 2020, the Company directly held $16.3 million and noncontrolling shareholders held $9.7 million. Of the securities held in the Consolidated Funds as of December 31, 2019, the Company directly held $21.1 million and noncontrolling shareholders held $15.1 million.

The components of net investment income (loss) are as follows:

	Three Months Ended   March 31,
	2020				2019
Realized gains (losses)	$	(817,539	)		$	2,907,366
Unrealized gains (losses)	(22,467,598		)		9,777,692
Dividends	894,413				1,496,439
Other investment income (loss)	(7,368		)		103,380
Investment income (loss), net	$	(22,398,092	)		$	14,284,877

Company Sponsored Equity Method Investments

As of March 31, 2020, 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 29% 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, 2020:

	As of
	March 31, 2020
Total assets	$	213,264,977
Total liabilities	23,227,019
Net assets	190,037,958
DHCM's portion of net assets	56,896,124
	For the Three Months Ended
	March 31, 2020
Investment income	$	1,199,720
Expenses	340,399
Net realized gains	(2,258,700		)
Net unrealized depreciation	(14,319,744		)
Net loss	(15,719,123		)
DHCM's portion of net loss	(3,675,555		)

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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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