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Investments (Tables)

9 Months Ended

Sep. 30, 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 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.

Schedule of Investment Income

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)

Equity Method Investments

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

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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