INVESTMENTS:

All investments are carried at fair value and are accounted for as trading securities. Investment balances are presented below (in thousands):



	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
December 31, 2017:
U.S. Government and Government agency obligations	$	29,367	$	21	$	(15	)	$	29,373
Money market funds	9,736		—		—			9,736
Equity funds	11,578		657		(20		)	12,215
Marketable securities	$	50,681	$	678	$	(35	)	$	51,324

December 31, 2016:
U.S. Government and Government agency obligations	$	30,275	$	—	$	(2	)	$	30,273
Money market funds	14,127		—		—			14,127
Equity funds	12,057		204		(176		)	12,085
Marketable securities	$	56,459	$	204	$	(178	)	$	56,485

The following amounts, except for income tax amounts, are included in our Consolidated Statements of Comprehensive Income under the heading “Other revenues” for the years indicated (in thousands):



	2017			2016			2015
Realized gains	$	395		$	113		$	283
Realized losses	(96		)	(220		)	(43		)
Net realized gains (losses)	$	299		$	(107	)	$	240
Income tax expense (benefit) from gains (losses)	$	105		$	(37	)	$	84
Interest income – trading	$	334		$	282		$	143
Dividend income	$	302		$	265		$	284
Unrealized gains/(losses)	$	617		$	510		$	(613	)

As of December 31, 2017 and 2016, $10.7 million and $11.0 million in corporate funds, respectively, were invested in the Westwood Funds®, Westwood Common Trust Funds and the UCITS fund, which are included in “Investments, at fair value” on our Consolidated Balance Sheets. See Note 11 "Variable Interest Entities."