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Investments
 3 Months Ended
Mar. 31, 2024
Schedule of Investments [Abstract]  
Investments Investments
Investments consist primarily of investments in the Company's sponsored products. The Company's investments, excluding the assets of consolidated investment products ("CIP") discussed in Note 16, at March 31, 2024 and December 31, 2023 were as follows:
(in thousands)March 31,
2024		December 31, 2023
Investment securities - fair value$90,497 $97,304 
Equity method investments (1)23,208 22,710 
Nonqualified retirement plan assets13,743 12,682 
Total investments$127,448 $132,696 
(1)    The Company's equity method investments are valued on a three-month lag based upon the availability of financial information.

Investment Securities - fair value
Investment securities - fair value consist of investments in the Company's sponsored funds and separately managed accounts. The composition of the Company’s investment securities - fair value was as follows:
March 31, 2024December 31, 2023
(in thousands)CostFair ValueCostFair Value
Investment Securities - fair value
Sponsored funds$69,067 $69,514 $80,794 $77,433 
Equity securities16,875 20,983 16,353 19,871 
Total investment securities - fair value$85,942 $90,497 $97,147 $97,304 
For the three months ended March 31, 2024 and 2023, the Company recognized net realized losses of $0.4 million and net realized gains $1.3 million, respectively, related to its investment securities - fair value.