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Investments
 9 Months Ended
Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]  
Investments Investments
The following table summarizes the carrying value of the Company's investments as of September 30, 2022, and December 31, 2021:
As of
September 30, 2022December 31, 2021
Fair value investments:
Securities held in Consolidated Funds(a)
$50,498,804 $73,855,204 
Company sponsored investments64,245,205 79,173,437 
Company sponsored equity method investments21,497,590 13,627,360 
Total Investments$136,241,599 $166,656,001 
(a) Of the securities held in the Consolidated Funds as of September 30, 2022, the Company directly held $32.3 million and noncontrolling shareholders held $18.2 million. Of the securities held in the Consolidated Funds as of December 31, 2021, the Company directly held $55.8 million and noncontrolling shareholders held $18.1 million.
As of September 30, 2022, the Company has consolidated the Diamond Hill International Fund. As of December 31, 2021, the Company consolidated the Diamond Hill International Fund and the Diamond Hill Large Cap Concentrated Fund. The Company deconsolidated the Diamond Hill Large Cap Concentrated Fund during the three months ended September 30, 2022, as the Company's ownership declined to less than 50%.

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

Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
Realized gains (losses)$(162,973)$1,185,429 $(432,444)$5,244,509 
Change in unrealized gains / losses(8,742,185)(4,689,325)(35,262,608)1,572,140 
Dividends886,212 971,107 2,517,672 2,241,037 
Other(12,760)(96,800)(124,456)(146,735)
Investment income (loss), net$(8,031,706)$(2,629,589)$(33,301,836)$8,910,951 
Company Sponsored Equity Method Investments
As of September 30, 2022, the Company's equity method investments consisted of DHMF and the Diamond Hill Large Cap Concentrated Fund, and the Company's ownership percentage in each of these investments was 85% and 49%, respectively. The Company's ownership in DHMF and the Diamond Hill Large Cap Concentrated Fund includes $3.4 million of deferred compensation plan investments.
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, 2022:
As of
September 30, 2022
Total assets$36,539,300 
Total liabilities2,753,508 
Net assets33,785,792 
DHCM's portion of net assets$21,497,590 
For the Three Months EndedFor the Nine Months Ended
September 30, 2022September 30, 2022
Investment income$178,387 $254,322 
Expenses48,142 83,291 
Net realized losses98,675 79,106 
Change in unrealized (400,858)(4,099,039)
Net loss(171,938)(3,848,902)
DHCM's portion of net loss$120,512 $(3,013,611)