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Investments (Tables)

3 Months Ended

Mar. 31, 2021

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 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.

Schedule of Investment Income

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)

X

- Definition

Tabular disclosure of investment income, including, but not limited to, interest and dividend income and amortization of discount (premium) derived from debt and equity securities. Excludes realized and unrealized gain (loss) on investments.

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Tabular disclosure of the summary of investment holdings.

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