4. Investments

Investments consist primarily of investments in our sponsored mutual funds. The Company’s investments, excluding the assets of consolidated sponsored investment products discussed in Note 13, at June 30, 2015 and December 31, 2014 were as follows:


	June 30, 2015		December 31, 2014
($ in thousands)
Marketable securities	$	44,248	$	50,251
Equity method investments		8,964		7,209
Nonqualified retirement plan assets		5,164		5,063
Other investments		925		925

Total investments	$	59,301	$	63,448

Marketable Securities

The Company’s marketable securities consist of both trading (including securities held by a broker-dealer affiliate) and available-for-sale securities. The composition of the Company’s marketable securities is summarized as follows:

June 30, 2015


	Cost		Unrealized Loss			Unrealized Gain		Fair Value
($ in thousands)
Trading:
Sponsored funds	$	31,942	$	(997	)	$	688	$	31,633
Equity securities		9,301		(12	)		176		9,465
Available-for-sale:
Sponsored closed-end funds		3,239		(227	)		138		3,150

Total marketable securities	$	44,482	$	(1,236	)	$	1,002	$	44,248

December 31, 2014


	Cost		Unrealized Loss			Unrealized Gain		Fair Value
($ in thousands)
Trading:
Sponsored funds	$	39,079	$	(1,190	)	$	423	$	38,312
Equity securities		8,421		—			319		8,740
Available-for-sale:
Sponsored closed-end funds		3,129		(163	)		233		3,199

Total marketable securities	$	50,629	$	(1,353	)	$	975	$	50,251

For the three and six months ended June 30, 2015, the Company recognized a realized gain on trading securities of $0.5 million and $0.9 million, respectively and for the three and six months ended June 30, 2014, the Company recognized a realized gain of $3.6 million and $4.5 million, respectively.