Investments (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Investments, Debt and Equity Securities [Abstract] |
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| Summary of Market Value of Investments |
The following table summarizes the carrying value of the Company’s investments as of June 30, 2025 and December 31, 2024: | | | | | | | | | | | | | As of | | June 30, 2025 | | December 31, 2024 | | Fair value investments: | | | | Securities held in Consolidated Funds(a) | $ | 62,035,855 | | | $ | 35,583,162 | | | Company-sponsored investments | 29,122,726 | | | 30,146,571 | | | Company-sponsored equity method investments | 82,338,692 | | | 94,023,248 | | | Total Investments | $ | 173,497,273 | | | $ | 159,752,981 | |
(a) Of the securities held in the Consolidated Funds as of June 30, 2025, DHCM held $37.0 million and non-controlling shareholders held $25.0 million. Of the securities held in the Consolidated Fund as of December 31, 2024, DHCM held $35.4 million and non-controlling shareholders held $0.2 million.
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| Schedule of Investment Income |
The components of net investment income (loss), net are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2025 | | 2024 | | 2025 | | 2024 | | Realized gains | $ | 3,827,435 | | | $ | 631,300 | | | $ | 4,037,505 | | | $ | 1,010,255 | | | Change in unrealized | 9,647,729 | | | (2,089,643) | | | 9,606,545 | | | 5,959,069 | | | Dividends | 412,773 | | | 822,397 | | | 922,661 | | | 1,775,613 | | | Interest income | 676,915 | | | — | | | 1,131,345 | | | — | | Other | (10,167) | | | (18,645) | | | (23,402) | | | (33,850) | | | Investment income (loss), net | $ | 14,554,685 | | | $ | (654,591) | | | $ | 15,674,654 | | | $ | 8,711,087 | |
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| 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 six-month periods ended, June 30, 2025: | | | | | | | | | | | | | | | | | | | As of | | | | June 30, 2025 | | Total assets | | | $ | 241,289,762 | | | Total liabilities | | | 11,047,014 | | | Net assets | | | 230,242,748 | | | DHCM’s portion of net assets | | | $ | 82,338,692 | | | | | | | For the Three Months Ended | | For the Six Months Ended | | June 30, 2025 | | June 30, 2025 | | Investment income | $ | 1,829,847 | | | $ | 3,364,236 | | | Expenses | 526,073 | | | 1,007,070 | | | Net realized gains | 3,781,770 | | | 9,015,493 | | | Change in unrealized | 21,050,372 | | | 18,020,448 | | Net income | 26,135,916 | | | 29,393,107 | | DHCM’s portion of net income | $ | 11,803,043 | | | $ | 11,483,309 | |
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