Investment in Securities

6 Months Ended

Jun. 30, 2021

Investment in Securities [Abstract]

Investment in Securities

3.  Investment in Securities

Investments in equity securities and funds at June 30, 2021 and December 31, 2020 consisted of the following (in thousands):

	June 30, 2021				December 31, 2020
	Cost		Estimated Fair Value		Cost		Estimated Fair Value
Investments in equity securities and funds:
Common stocks	$	37,437	$	21,647	$	41,341	$	19,099
Open-end funds		5,632		6,235		5,757		6,128
Actively managed semi-transparent ETFs		5,000		5,326		-		-
Closed-end Funds		516		528		628		618
Other		6		7		-		-
Total investments in equity securities and funds	$	48,591	$	33,743	$	47,726	$	25,845

Investments in equity securities and funds, including the Company’s investments in common stocks and the Funds, are stated at fair value with any unrealized gains or losses reported in each respective period’s earnings.

There were no investments in debt securities at June 30, 2021. Investments in debt securities at December 31, 2020 consisted of the following (in thousands):

	December 31, 2020
	Amortized Cost		Gross Unrecognized Holding Gains		Gross Unrecognized Holding Losses		Estimated Fair Value
Short-term investments in U.S. Treasury Bills:
U.S. Treasury Bills	$	64,988	$	6	$	-	$	64,994
Total short-term investments in U.S. Treasury Bills	$	64,988	$	6	$	-	$	64,994

The maturity dates of all of the Company’s investments in debt securities are less than one year.

Securities sold, not yet purchased at June 30, 2021 and December 31, 2020 consisted of the following (in thousands):

	June 30, 2021				December 31, 2020
	Cost		Estimated Fair Value		Cost		Estimated Fair Value
Investments in equity securities:
Common stocks	$	-	$	-	$	728	$	799
Total securities sold, not yet purchased	$	-	$	-	$	728	$	799