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Investments (Tables)
 3 Months Ended
Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
Summary of Market Value of Investments
The following table summarizes the carrying value of these investments as of March 31, 2020 and December 31, 2019:
 
As of
 
March 31, 2020
 
December 31, 2019
Fair value investments:
 
 
 
Securities held in Consolidated Funds(a)
$
26,043,249

 
$
36,248,360

Company sponsored investments
21,579,691

 
42,039,044

Company sponsored equity method investments
56,896,124

 
61,149,774

Total Investments
$
104,519,064

 
$
139,437,178


(a) Of the securities held in the Consolidated Funds as of March 31, 2020, the Company directly held $16.3 million and noncontrolling shareholders held $9.7 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.
Schedule of Investment Income
The components of net investment income (loss) are as follows:
 
Three Months Ended 
 March 31,
 
2020
 
2019
Realized gains (losses)
$
(817,539
)
 
$
2,907,366

Unrealized gains (losses)
(22,467,598
)
 
9,777,692

Dividends
894,413

 
1,496,439

Other investment income (loss)
(7,368
)
 
103,380

Investment income (loss), net
$
(22,398,092
)
 
$
14,284,877
Equity Method Investments
The following table includes the condensed summary financial information from the Company's equity method investments as of and for the period ended March 31, 2020:
 
As of
 
March 31, 2020
Total assets
$
213,264,977

Total liabilities
23,227,019

Net assets
190,037,958

DHCM's portion of net assets
56,896,124

 
 
 
For the Three Months Ended
 
March 31, 2020
Investment income
$
1,199,720

Expenses
340,399

Net realized gains
(2,258,700
)
Net unrealized depreciation
(14,319,744
)
Net loss
(15,719,123
)
DHCM's portion of net loss
(3,675,555
)