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Investments
 3 Months Ended
Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Investments Investments
The following table summarizes the carrying value of the Company’s investments as of March 31, 2025 and December 31, 2024:
As of
March 31, 2025December 31, 2024
Fair value investments:
Securities held in Consolidated Fund(a)
$37,439,390 $35,583,162 
Company-sponsored investments$27,092,193 $30,146,571 
Company-sponsored equity method investments94,278,154 94,023,248 
Total Investments$158,809,737 $159,752,981 

(a) Of the securities held in the Consolidated Fund as of March 31, 2025, DHCM held $36.5 million and non-controlling shareholders held $0.9 million. Of the securities held in the Consolidated Fund as of December 31, 2024, DHCM held $35.4 million and non-controlling shareholders held $0.2 million.

As of March 31, 2025 and December 31, 2024, the Company has consolidated the Diamond Hill Core Plus Bond Fund.

The components of net investment income (loss), net are as follows:
Three Months Ended March 31,
20252024
Realized gains$210,070 $378,955 
Change in unrealized(41,184)8,048,712 
Dividends964,318 953,216 
Other
(13,235)(15,205)
Investment income (loss), net$1,119,969 $9,365,678 
Company-Sponsored Equity Method Investments
As of March 31, 2025, 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 85%, 38%, and 39%, respectively. The Company’s ownership in DHMF, the Diamond Hill International Fund, and the Diamond Hill Large Cap Concentrated Fund includes $8.3 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 periods ended, March 31, 2025:
As of
March 31, 2025
Total assets$227,327,680 
Total liabilities9,053,308 
Net assets218,274,372 
DHCM’s portion of net assets$94,278,154 
For the Three Months Ended
March 31, 2025
Investment income$1,534,389 
Expenses480,997 
Net realized gains 5,233,723 
Change in unrealized (3,029,924)
Net income
3,257,191 
DHCM’s portion of net income
$(319,734)
The Company’s investments at March 31, 2025 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 $19.9 million as of March 31, 2025.