Investments

Investments comprise strategic investments, including limited partnership investments, deferred compensation investments related to employee and director deferred compensation plans and investment in the Deephaven Funds. Investments consist of the following (in thousands):



	June 30, 2013		December 31, 2012
Strategic investments:
Investments accounted for under the equity method	$	55,937	$	53,878
Common stock of companies representing less than 20% equity ownership held at adjusted cost	1,786		1,789
Total Strategic investments	57,723		55,667
Deferred compensation investments⁽¹⁾	21,231		21,339
Investment in Deephaven Funds	1,327		1,342
Total Investments	$	80,281	$	78,348

⁽¹⁾As a result of the Mergers, the deferred compensation investments were liquidated and employee balances as of June 30, 2013 were paid out in July 2013. The deferred compensation plan is still in effect and continues to be funded by employee contributions.