XML 21 R10.htm IDEA: XBRL DOCUMENT v3.20.2

Investments

6 Months Ended

Jun. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Investments

Investments

The following table summarizes the carrying value of the Company's investments as of June 30, 2020 and December 31, 2019:

			As of
			June 30, 2020						December 31, 2019
Fair value investments:
Securities held in Consolidated Funds(a)			$	29,262,767					$	36,248,360
Company sponsored investments			24,170,568						42,039,044
Company sponsored equity method investments			60,915,291						61,149,774
Total Investments			$	114,348,626					$	139,437,178

(a) Of the securities held in the Consolidated Funds as of June 30, 2020, the Company directly held $18.8 million and noncontrolling shareholders held $10.5 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 June 30,																		Six Months Ended June 30,
			2020						2019						2020						2019
Realized gains (losses)			$	(925,889)					$	2,178,433					$	(1,743,428)					$	5,085,799
Unrealized gains (losses)			11,948,270						622,890						(10,519,328)						10,400,582
Dividends			570,538						3,242,662						1,464,951						4,248,382
Interest			—						495,409						—						987,630
Other investment income (loss)			(30,295)						(19,798)						(37,663)						82,080
Investment income (loss), net			$	11,562,624					$	6,519,596					$	(10,835,468)					$	20,804,473

Company Sponsored Equity Method Investments

As of June 30, 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 these investments was 35% and 23%, respectively.

The following table includes the condensed summary financial information from the Company's equity method investments as of and for the three and six month periods ended June 30, 2020:

									As of
									June 30, 2020
Total assets									$	280,346,497
Total liabilities									33,583,129
Net assets									246,763,368
DHCM's portion of net assets									$	60,915,291
			For the Three Months Ended						For the Six Months Ended
			June 30, 2020						June 30, 2020
Investment income			$	1,470,082					$	2,669,802
Expenses			380,380						720,779
Net realized losses			(1,108,621)						(3,367,321)
Net unrealized appreciation (depreciation)			14,315,248						(4,496)
Net income (loss)			14,296,329						(1,422,794)
DHCM's portion of net income (loss)			$	3,959,381					$	283,826

X

- References

No definition available.

+ Details

Name:	us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

+ Details

Name:	us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration