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Investments
 9 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Investments

NOTE 7. Investments

As of September 30, 2024 and December 31, 2023, the Company had investments in proprietary funds and deferred compensation plan investments. Investments in proprietary funds consist entirely of seed capital investments in certain Victory Funds. Deferred compensation plan investments are held under deferred compensation plans and consist of investments in Victory Funds.

Unrealized and realized gains and losses on investments in proprietary funds and deferred compensation plan investments are recorded in earnings as interest income and other income (expense).

Investments in Proprietary Funds

The following table presents a summary of the cost and fair value of investments in proprietary funds:

 

 

 

 

 

 

Gross Unrealized

 

 

Fair

 

(in thousands)

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Value

 

As of September 30, 2024

 

$

574

 

 

$

93

 

 

$

(71

)

 

$

596

 

As of December 31, 2023

 

 

569

 

 

 

55

 

 

 

(90

)

 

 

534

 

 

There were no sales of investments in proprietary funds and realized gains and losses during the three and nine months ended September 30, 2024. The following table presents proceeds from sales of investments in proprietary funds and realized gains and losses recognized during the three and nine months ended September 30, 2023.

 

 

 

Sale

 

 

Realized

 

(in thousands)

 

Proceeds

 

 

Gains

 

 

(Losses)

 

For the three months ended September 30, 2023

 

$

—

 

 

$

—

 

 

$

—

 

For the nine months ended September 30, 2023

 

 

32

 

 

 

4

 

 

 

—

 

 

Deferred Compensation Plan Investments

The following table presents a summary of the cost and fair value of deferred compensation plan investments:

 

 

 

 

 

 

Gross Unrealized

 

 

Fair

 

(in thousands)

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Value

 

As of September 30, 2024

 

$

30,930

 

 

$

3,301

 

 

$

(84

)

 

$

34,147

 

As of December 31, 2023

 

 

30,109

 

 

 

1,610

 

 

 

(445

)

 

 

31,274

 

 

The following table presents proceeds from sales of deferred compensation plan investments and realized gains and losses recognized during the three and nine months ended September 30, 2024 and 2023:

 

 

Sale

 

 

Realized

 

(in thousands)

 

Proceeds

 

 

Gains

 

 

(Losses)

 

For the three months ended September 30, 2024

 

$

8,692

 

 

$

306

 

 

$

(1

)

For the three months ended September 30, 2023

 

$

4,522

 

 

$

1

 

 

$

(100

)

 

 

 

Sale

 

 

Realized

 

(in thousands)

 

Proceeds

 

 

Gains

 

 

(Losses)

 

For the nine months ended September 30, 2024

 

$

9,781

 

 

$

388

 

 

$

(23

)

For the nine months ended September 30, 2023

 

$

7,432

 

 

$

5

 

 

$

(332

)