Investments
 6 Months Ended
Jun. 30, 2019
Investments.  
Investments

NOTE 7. Investments

As of June 30, 2019 and December 31, 2018, the Company held both available-for-sale securities and trading securities. Available-for-sale investments consist entirely of seed capital investments in certain Victory Funds. Trading securities are held under a deferred compensation plan and include Victory Funds and third party mutual funds.

Available‑For‑Sale Securities

A summary of the cost and fair value of investments classified as available-for-sale were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Unrealized

 

Fair

(in thousands)

    

Cost

    

Gains

    

(Losses)

    

Value

As of June 30, 2019

 

$

670

 

$

59

 

$

(7)

 

$

722

As of December 31, 2018

 

 

666

 

 

 6

 

 

(71)

 

 

601

 

Unrealized and realized gains and losses on available‑for‑sale investments are recognized in the accompanying unaudited Condensed Consolidated Statements of Operations as “Interest income and other income/(expense).” Proceeds from sales and realized gains and losses from available-for-sale securities in the periods ended June 30, 2019 and 2018 were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

Sale

 

Realized

(in thousands)

    

Proceeds

    

Gains

    

(Losses)

For the three months ended June 30, 2019

 

$

104

 

$

 4

 

$

 —

For the three months ended June 30, 2018

 

 

 —

 

 

 —

 

 

 —

 

 

 

 

 

 

 

 

 

 

 

 

Sale

 

Realized

(in thousands)

    

Proceeds

    

Gains

    

(Losses)

For the six months ended June 30, 2019

 

$

104

 

$

 4

 

$

 —

For the six months ended June 30, 2018

 

 

 —

 

 

 —

 

 

 —

 

 

 

 

 

 

 

 

 

 

Trading Securities

A summary of the cost and fair value of investments classified as trading securities were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Unrealized

 

Fair

(in thousands)

    

Cost

    

Gains

    

(Losses)

    

Value

As of June 30, 2019

 

$

16,572

 

$

331

 

$

(800)

 

$

16,103

As of December 31, 2018

 

 

14,874

 

 

 5

 

 

(2,160)

 

 

12,719

 

Unrealized and realized gains and losses on trading securities are recorded in “Interest income and other income/(expense)” in the accompanying unaudited Condensed Consolidated Statements of Operations. Proceeds from sales and realized gains and losses from trading securities in the periods ended June 30, 2019 and 2018 were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

Sale

 

Realized

(in thousands)

    

Proceeds

    

Gains

    

(Losses)

For the three months ended June 30, 2019

 

$

865

 

$

12

 

$

(12)

For the three months ended June 30, 2018

 

 

180

 

 

 5

 

 

(4)

 

 

 

 

 

 

 

 

 

 

 

 

Sale

 

Realized

 

    

Proceeds

    

Gains

    

(Losses)

For the six months ended June 30, 2019

 

$

1,435

 

$

14

 

$

(31)

For the six months ended June 30, 2018

 

 

628

 

 

33

 

 

(6)