Securities Owned and Sold, Not Yet Purchased

6 Months Ended

Jun. 30, 2014

Securities Owned and Sold, Not Yet Purchased

Securities Owned and Sold, Not Yet Purchased

(5) Securities Owned and Sold, Not Yet Purchased

The following is a summary of securities owned and securities sold, not yet purchased (dollars in thousands):

	Securities Owned				Securities Sold, Not Yet Purchased
	June 30, 2014		December 31, 2013		June 30, 2014		December 31, 2013
Corporate stocks—trading securities	$	9,857	$	2,894	$	9,108	$	2,953
Mutual funds	4,316		4,542		—		—
Total	$	14,173	$	7,436	$	9,108	$	2,953

Trading securities owned and sold, not yet purchased primarily consists of temporary positions obtained in the normal course of agency trading activities, including positions held in connection with the creation and redemption of exchange-traded funds on behalf of clients.