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Investments | 3 Months Ended
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Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract] |
Investments | Investments The following table summarizes the carrying value of the Company's investments as of March 31, 2021 and December 31, 2020:
| As of
| March 31, 2021 |  | December 31, 2020
Fair value investments: |  |  |
Securities held in Consolidated Funds(a) | $ | 47,164,927 |  |  | $ | 33,233,307 |
Company sponsored investments | 95,530,265 |  |  | 95,167,829 |
Total Investments | $ | 142,695,192 |  |  | $ | 128,401,136 |
(a) Of the securities held in the Consolidated Funds as of March 31, 2021, the Company directly held $35.0 million and noncontrolling shareholders held $12.2 million. Of the securities held in the Consolidated Funds as of December 31, 2020, the Company directly held $23.6 million and noncontrolling shareholders held $9.6 million. The components of net investment income (loss) are as follows:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2021 |  | 2020
Realized gains (losses) |  |  |  |  | $ | 2,523,505 |  |  | $ | (817,539) |
Unrealized gains (losses) |  |  |  |  | 2,505,344 |  |  | (22,467,598) |
Dividends |  |  |  |  | 665,009 |  |  | 894,413 |
Other |  |  |  |  | (30,404) |  |  | (7,368) |
Investment income (loss), net |  |  |  |  | $ | 5,663,454 |  |  | $ | (22,398,092) |

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