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Investments (Tables)

12 Months Ended

Dec. 31, 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 December 31, 2022 and 2021:

			As of December 31,
			2022						2021
Fair value investments:
Securities held in Consolidated Funds(a)			$	54,740,993					$	73,855,204
Company-sponsored investments			66,828,910						79,173,437
Company-sponsored equity method investments			24,105,808						13,627,360
Total Investments			$	145,675,711					$	166,656,001

(a) Of the securities held in the Consolidated Funds as of December 31, 2022, the Company directly held $37.5 million and non-controlling shareholders held $17.2 million. Of the securities held in the Consolidated Funds as of December 31, 2021, the Company directly held $55.8 million and non-controlling shareholders held $18.1 million.

Investment Income

The components of net investment income (loss) are as follows:

			For the Year Ended December 31,
			2022						2021						2020
Realized gains (losses)			$	(118,408)					$	15,676,405					$	(1,488,059)
Change in unrealized gains / losses			(24,082,672)						(2,352,649)						5,348,243
Dividends			4,193,792						3,221,448						2,824,542
Other			(179,223)						(163,988)						(99,877)
Investment income (loss), net			$	(20,186,511)					$	16,381,216					$	6,584,849

Equity Method Investments

The following table includes the condensed summary financial information from the Company’s equity method investments as of December 31, 2022 and 2021, and for the years ended December 31, 2022, 2021, and 2020:

									As of December 31,
									2022						2021
Total assets									$	38,828,388					$	15,879,492
Total liabilities									278,675						270,446
Net assets									38,549,713						15,609,046
DHCM’s portion of net assets									$	24,105,808					$	13,627,360
			For the Year Ended December 31,
			2022						2021						2020
Investment income			$	413,528					$	106,440					$	4,246,021
Expenses			134,478						37,820						1,114,278
Net realized gains (losses)			378,476						—						(1,577,639)
Change in unrealized			(402,230)						977,920						2,289,667
Net income			255,296						1,046,540						3,843,771
DHCM’s portion of net income (loss)			$	(405,393)					$	914,855					$	1,807,279

X

- 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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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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