The Company owns a variety of investments associated with the oil and gas industry. These investments represent approximately 24% and 20% of the Company's total invested assets as of March 31, 2021 and December 31, 2020, respectively. The following table provides an allocation of the oil and gas investments by type.

March 31, 2021	Land, Minerals & Royalty Interests		Transportation		Exploration		Total
Fixed maturities, at fair value	$	0	$	0	$	1,245,020	$	1,245,020
Equity securities, at fair value		62,257,209		0		0		62,257,209
Investment real estate		19,190,517		0		0		19,190,517
Notes receivable		6,000,000		0		0		6,000,000
Total	$	87,447,726	$	0	$	1,245,020	$	88,692,746

December 31, 2020	Land, Minerals & Royalty Interests		Transportation		Exploration		Total
Fixed maturities, at fair value	$	0	$	0	$	1,268,670	$	1,268,670
Equity securities, at fair value		41,551,468		0		0		41,551,468
Investment real estate		20,031,576		0		0		20,031,576
Notes receivable		6,000,000		0		0		6,000,000
Total	$	67,583,044	$	0	$	1,268,670	$	68,851,714

At March 31, 2021 and December 31, 2020, the Company owned two equity securities that represented approximately 59% and 47%, respectively, of the total investments associated with the oil and gas industry.

The Company’s results of operations and financial condition have in the past been, and may in the future be, adversely affected by the degree of certain industry specific concentrations in the Company’s investment portfolio. The Company has significant exposure to investments associated with the oil and gas industry. Events or developments that have a negative effect on the oil and gas industry may adversely affect the valuation of our investments in this specific industry. The Company’s ability to sell its investments associated with the oil and gas industry may be limited.