Investments

9 Months Ended

Sep. 30, 2014

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Investments

5. INVESTMENTS

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

			Gross		Gross			Estimated
			Unrealized		Unrealized			Market
	Cost		Gains		Losses			Value
September 30, 2014:
U.S. Government and Government agency obligations	$	59,654	$	24	$	—		$	59,678
Money market funds		7,819		—		—			7,819
Equity funds		2,441		136		(21	)		2,556
Fixed income funds		3,090		—		(44	)		3,046
Marketable securities	$	73,004	$	160	$	(65	)	$	73,099
December 31, 2013:
U.S. Government and Government agency obligations	$	42,595	$	16	$	—		$	42,611
Money market funds		8,584		—		—			8,584
Equity funds		2,130		200		(54	)		2,276
Fixed income funds		10,984		99		—			11,083
Marketable securities	$	64,293	$	315	$	(54	)	$	64,554

As of September 30, 2014 $5.6 million in corporate funds were invested in Westwood Funds and Westwood Common Trust Funds. See Note 9.