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Investments | 9 Months Ended
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Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract] |
Investments | Investments The following table summarizes the carrying value of the Company's investments as of September 30, 2020 and December 31, 2019:
| As of |  |
| September 30, 2020 |  | December 31, 2019
Fair value investments: |  |  |
Securities held in Consolidated Funds(a) | $ | 28,035,352 |  |  | $ | 36,248,360 |
Company sponsored investments | 25,997,804 |  |  | 42,039,044 |
Company sponsored equity method investments | 62,400,320 |  |  | 61,149,774 |
Total Investments | $ | 116,433,476 |  |  | $ | 139,437,178 |
(a) Of the securities held in the Consolidated Funds as of September 30, 2020, the Company directly held $19.9 million and noncontrolling shareholders held $8.2 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 September 30, |  |  |  | Nine Months Ended September 30, |  |
| 2020 |  | 2019 |  | 2020 |  | 2019
Realized gains (losses) | $ | 512,265 |  |  | $ | 194,373 |  |  | $ | (1,231,163) |  |  | $ | 5,280,172 |
Unrealized gains (losses) | 4,040,917 |  |  | 1,089,398 |  |  | (6,478,411) |  |  | 11,489,980 |
Dividends | 518,472 |  |  | 1,559,836 |  |  | 1,983,423 |  |  | 5,808,218 |
Interest | — |  |  | — |  |  | — |  |  | 987,418 |
Other investment income (loss) | (18,860) |  |  | (20,660) |  |  | (56,523) |  |  | 61,631 |
Investment income (loss), net | $ | 5,052,794 |  |  | $ | 2,822,947 |  |  | $ | (5,782,674) |  |  | $ | 23,627,419 |
Company Sponsored Equity Method Investments As of September 30, 2020, the Company's equity method investments consisted of the Diamond Hill Research Opportunities Fund and the Diamond Hill Core Bond Fund, and the Company's ownership percentages in these investments were 45% and 20%, respectively. The following table includes the condensed summary financial information from the Company's equity method investments as of and for the three- and nine-month periods ended September 30, 2020:
|  |  | As of
|  |  | September 30, 2020
Total assets |  |  | $ | 298,978,334 |
Total liabilities |  |  | 30,049,442 |
Net assets |  |  | 268,928,892 |
DHCM's portion of net assets |  |  | $ | 62,400,320 |
| For the Three Months Ended |  | For the Nine Months Ended
| September 30, 2020 |  | September 30, 2020
Investment income | $ | 1,576,219 |  |  | $ | 4,246,021 |
Expenses | 393,499 |  |  | 1,114,278 |
Net realized gains (losses) | 1,789,682 |  |  | (1,577,639) |
Net unrealized appreciation | 2,294,163 |  |  | 2,289,667 |
Net income | 5,266,565 |  |  | 3,843,771 |
DHCM's portion of net income | $ | 1,523,452 |  |  | $ | 1,807,279 |

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