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Investments

9 Months Ended

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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- 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

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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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