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Investments (Tables)

12 Months Ended

Dec. 31, 2020

Investments, Debt and Equity Securities [Abstract]

Summary of market value of investments

The following table summarizes the carrying value of the Company's investments as of December 31, 2020 and 2019:

			As of December 31,
			2020						2019
Fair value investments:
Securities held in Consolidated Funds(a)			$	33,233,307					$	36,248,360
Company-sponsored investments			95,167,829						42,039,044
Company-sponsored equity method investments			—						61,149,774
Total Investments			$	128,401,136					$	139,437,178

(a) Of the securities held in the Consolidated Funds as of December 31, 2020, the Company directly held $23.6 million and non-controlling shareholders held $9.6 million. Of the securities held in the Consolidated Funds as of December 31, 2019, the Company directly held $21.1 million and non-controlling shareholders held $15.1 million.

Investment Income

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

			For the Year Ended December 31,
			2020						2019						2018
Realized gains (losses)			$	(1,488,059)					$	9,056,152					$	2,143,695
Unrealized gains (losses)			5,348,243						15,086,747						(16,067,048)
Dividend income			2,824,542						5,350,146						2,814,026
Interest income			—						987,240						4,857,261
Other investment income (loss)			(99,877)						27,090						(20,612)
Investment income (loss), net			$	6,584,849					$	30,507,375					$	(6,272,678)

Equity Method Investments

The following table includes the condensed summary financial information from the Company’s equity method investments as of December 31, 2020 and 2019, and for the years ended December 31, 2020, 2019, and 2018:

									As of December 31,
									2020						2019
Total assets									$	—					$	237,073,628
Total liabilities									—						38,453,935
Net assets									—						198,619,693
DHCM’s portion of net assets									$	—					$	61,149,774
			For the Year Ended December 31,
			2020						2019						2018
Investment income			$	4,246,021					$	5,346,588					$	1,154,007
Expenses			1,114,278						1,551,291						978,322
Net realized gains (losses)			(1,577,639)						6,390,727						1,918,661
Net change in unrealized appreciation (depreciation)			2,289,667						14,805,837						(10,229,319)
Net income (loss)			3,843,771						24,991,861						(8,134,973)
DHCM’s portion of net income (loss)			$	1,807,279					$	8,301,571					$	(2,400,467)

X

- Definition

Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information.

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Tabular disclosure of the summary of investment holdings.

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