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Investments (Tables)

9 Months Ended

Sep. 30, 2023

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, 2023, and December 31, 2022:

			As of
			September 30, 2023						December 31, 2022
Fair value investments:
Securities held in Consolidated Funds(a)			$	69,490,476					$	54,740,993
Company sponsored investments			67,549,541						66,828,910
Company sponsored equity method investments			27,588,184						24,105,808
Total Investments			$	164,628,201					$	145,675,711

(a) Of the securities held in the Consolidated Funds as of September 30, 2023, DHCM directly held $39.9 million and noncontrolling shareholders held $29.6 million. Of the securities held in the Consolidated Funds as of December 31, 2022, DHCM directly held $37.5 million and noncontrolling shareholders held $17.2 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,
			2023						2022						2023						2022
Realized gains (losses)			$	211,446					$	(162,973)					$	1,017,983					$	(432,444)
Change in unrealized			(6,283,344)						(8,742,185)						4,367,873						(35,262,608)
Dividends			1,457,543						886,212						4,497,091						2,517,672
Other income (loss)			(22,597)						(12,760)						(160,453)						(124,456)
Investment income (loss), net			$	(4,636,952)					$	(8,031,706)					$	9,722,494					$	(33,301,836)

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-month and nine-month periods ended September 30, 2023:

									As of
									September 30, 2023
Total assets									$	45,039,288
Total liabilities									221,720
Net assets									44,817,568
DHCM’s portion of net assets									$	27,588,184
			For the Three Months Ended						For the Nine Months Ended
			September 30, 2023						September 30, 2023
Investment income			$	227,882					$	588,001
Expenses			63,972						176,241
Net realized gains			128,182						504,096
Change in unrealized			(558,593)						2,848,511
Net income			(266,501)						3,764,367
DHCM’s portion of net (loss) income			$	(85,509)					$	2,738,071

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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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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