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Investments | 9 Months Ended
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Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract] |
Investments | Investments The following table summarizes the carrying value of the Company's investments as of September 30, 2021 and December 31, 2020:
| As of
| September 30, 2021 |  | December 31, 2020
Fair value investments: |  |  |
Securities held in Consolidated Funds(a) | $ | 59,329,410 |  |  | $ | 33,233,307 |
Company sponsored investments | 96,127,928 |  |  | 95,167,829 |
Company sponsored equity method investments | 12,235,633 |  |  | — |
Total Investments | $ | 167,692,971 |  |  | $ | 128,401,136 |
(a) Of the securities held in the Consolidated Funds as of September 30, 2021, the Company directly held $45.2 million and noncontrolling shareholders held $14.1 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 September 30, |  | Nine Months Ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Realized gains (losses) | $ | 1,185,429 |  |  | $ | 512,265 |  |  | $ | 5,244,509 |  |  | $ | (1,231,163) |
Unrealized gains (losses) | (4,689,325) |  |  | 4,040,917 |  |  | 1,572,140 |  |  | (6,478,411) |
Dividends | 971,107 |  |  | 518,472 |  |  | 2,241,037 |  |  | 1,983,423 |
Other | (96,800) |  |  | (18,860) |  |  | (146,735) |  |  | (56,523) |
Investment income (loss), net | $ | (2,629,589) |  |  | $ | 5,052,794 |  |  | $ | 8,910,951 |  |  | $ | (5,782,674) |
Company Sponsored Equity Method Investments During the three- and nine-month periods ended September 30, 2021, the Company's only equity method investment was DHMF, and the Company's ownership percentage in DHMF was 89% as of September 30, 2021. DHMF commenced operations on June 1, 2021. The following table includes the condensed summary financial information from the Company's equity method investments as of and for the three- and nine-month periods ended September 30, 2021:
|  |  | As of
|  |  | September 30, 2021
Total assets |  |  | $ | 14,189,835 |
Total liabilities |  |  | 423,056 |
Net assets |  |  | 13,766,779 |
DHCM's portion of net assets |  |  | $ | 12,235,633 |
| For the Three Months Ended |  | For the Nine Months Ended
| September 30, 2021 |  | September 30, 2021
Investment income | $ | 54,530 |  |  | $ | 60,130 |
Expenses | 5,486 |  |  | 14,343 |
Net unrealized loss | (473,618) |  |  | (591,514) |
Net loss | (424,574) |  |  | (545,727) |
DHCM's portion of net loss | $ | (380,062) |  |  | $ | (476,872) |

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
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