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Investments (Tables)

9 Months Ended

Sep. 30, 2022

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, 2022, and December 31, 2021:

			As of
			September 30, 2022						December 31, 2021
Fair value investments:
Securities held in Consolidated Funds(a)			$	50,498,804					$	73,855,204
Company sponsored investments			64,245,205						79,173,437
Company sponsored equity method investments			21,497,590						13,627,360
Total Investments			$	136,241,599					$	166,656,001

(a) Of the securities held in the Consolidated Funds as of September 30, 2022, the Company directly held $32.3 million and noncontrolling shareholders held $18.2 million. Of the securities held in the Consolidated Funds as of December 31, 2021, the Company directly held $55.8 million and noncontrolling shareholders held $18.1 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,
			2022						2021						2022						2021
Realized gains (losses)			$	(162,973)					$	1,185,429					$	(432,444)					$	5,244,509
Change in unrealized gains / losses			(8,742,185)						(4,689,325)						(35,262,608)						1,572,140
Dividends			886,212						971,107						2,517,672						2,241,037
Other			(12,760)						(96,800)						(124,456)						(146,735)
Investment income (loss), net			$	(8,031,706)					$	(2,629,589)					$	(33,301,836)					$	8,910,951

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, 2022:

									As of
									September 30, 2022
Total assets									$	36,539,300
Total liabilities									2,753,508
Net assets									33,785,792
DHCM's portion of net assets									$	21,497,590
			For the Three Months Ended						For the Nine Months Ended
			September 30, 2022						September 30, 2022
Investment income			$	178,387					$	254,322
Expenses			48,142						83,291
Net realized losses			98,675						79,106
Change in unrealized			(400,858)						(4,099,039)
Net loss			(171,938)						(3,848,902)
DHCM's portion of net loss			$	120,512					$	(3,013,611)

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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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