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Investments | 3 Months Ended
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Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract] |
Investments | Investments The following table summarizes the carrying value of the Company’s investments as of March 31, 2024 and December 31, 2023:
| As of
| March 31, 2024 |  | December 31, 2023
Fair value investments: |  |  |
Company sponsored investments | $ | 63,845,000 |  |  | $ | 63,208,573 |
Company sponsored equity method investments | 91,077,301 |  |  | 84,530,289 |
Total Investments | $ | 154,922,301 |  |  | $ | 147,738,862 |
The components of net investment income are as follows:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2024 |  | 2023
Realized gains |  |  |  |  | $ | 378,955 |  |  | $ | 819,135 |
Change in unrealized |  |  |  |  | 8,048,712 |  |  | 5,808,171 |
Dividends |  |  |  |  | 953,216 |  |  | 1,509,288 |
Other |  |  |  |  | (15,205) |  |  | (53,856) |
Investment income, net |  |  |  |  | $ | 9,365,678 |  |  | $ | 8,082,738 |
Company-Sponsored Equity Method Investments As of March 31, 2024, the Company’s equity method investments consisted of DHMF, the Diamond Hill International Fund, and the Diamond Hill Large Cap Concentrated Fund. The Company’s ownership percentage in these investments was 84%, 43%, and 46%, respectively. The Company’s ownership in DHMF, the Diamond Hill International Fund, and the Diamond Hill Large Cap Concentrated Fund includes $7.8 million of investments held in the Deferred Compensation Plans (as defined in Note 6). 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, 2024:
|  |  | As of
|  |  | March 31, 2024
Total assets |  |  | $ | 191,222,441 |
Total liabilities |  |  | 4,685,754 |
Net assets |  |  | 186,536,687 |
DHCM’s portion of net assets |  |  | $ | 91,077,301 |
|  |  | For the Three Months Ended
|  |  | March 31, 2024
Investment income |  |  | $ | 1,134,941 |
Expenses |  |  | 386,493 |
Net realized gains |  |  | 2,154,065 |
Change in unrealized |  |  | 9,688,596 |
Net income |  |  | 12,591,109 |
DHCM’s portion of net income |  |  | $ | 6,274,620 |
The Company’s investments at March 31, 2024 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 $19.5 million as of March 31, 2024.

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