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Investments | 3 Months Ended
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Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract] |
Investments | Investments The following table summarizes the carrying value of the Company’s investments as of March 31, 2023, and December 31, 2022:
| As of
| March 31, 2023 |  | December 31, 2022
Fair value investments: |  |  |
Securities held in Consolidated Funds(a) | $ | 60,973,177 |  |  | $ | 54,740,993 |
Company sponsored investments | 68,301,102 |  |  | 66,828,910 |
Company sponsored equity method investments | 25,510,684 |  |  | 24,105,808 |
Total Investments | $ | 154,784,963 |  |  | $ | 145,675,711 |
(a) Of the securities held in the Consolidated Funds as of March 31, 2023, the Company directly held $40.4 million and noncontrolling shareholders held $20.6 million. Of the securities held in the Consolidated Funds as of December 31, 2022, the Company directly held $37.5 million and noncontrolling shareholders held $17.2 million. As of March 31, 2023 and December 31, 2022, the Company has consolidated the Diamond Hill International Fund. The components of net investment income (loss) are as follows:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2023 |  | 2022
Realized gains |  |  |  |  | $ | 819,135 |  |  | $ | 1,443,747 |
Change in unrealized gains / losses |  |  |  |  | 5,808,171 |  |  | (9,750,856) |
Dividends |  |  |  |  | 1,509,288 |  |  | 767,885 |
Other |  |  |  |  | (53,856) |  |  | (53,033) |
Investment income (loss), net |  |  |  |  | $ | 8,082,738 |  |  | $ | (7,592,257) |
Company-Sponsored Equity Method Investments As of March 31, 2023, 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 86% and 47%, respectively. The Company’s ownership in DHMF and the Diamond Hill Large Cap Concentrated Fund includes $4.8 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-month period ended March 31, 2023:
|  |  | As of
|  |  | March 31, 2023
Total assets |  |  | $ | 40,440,588 |
Total liabilities |  |  | 34,936 |
Net assets |  |  | 40,405,652 |
DHCM’s portion of net assets |  |  | $ | 25,510,684 |
|  |  | For the Three Months Ended
|  |  | March 31, 2023
Investment income |  |  | $ | 172,185 |
Expenses |  |  | 54,759 |
Net realized gains |  |  | 4,977 |
Change in unrealized gains / losses |  |  | 592,126 |
Net income |  |  | 714,529 |
DHCM’s portion of net income |  |  | $ | 660,571 |
The Company’s investments at March 31, 2023 include its interest in DHMF, an unconsolidated VIE, as the Company is not deemed the primary beneficiary. The Company’s maximum risk of loss related to its involvement with DHMF is limited to the carrying value of its investment which was $14.5 million as of March 31, 2023.

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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 https://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 https://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 https://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 https://asc.fasb.org/subtopic&trid=2176304 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
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