Marketable Securities and Certificates of Deposit

The amortized cost and estimated fair value of the Company's Marketable Securities as of September 30, 2018 and December 31, 2017 were as follows:



	September 30, 2018								December 31, 2017
	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities Investments - Debt Securities	$	1,298	$	—	$	5	$	1,293	$	1,806	$	—	$	11	$	1,795
Securities Investments - Equity Securities	666		—		310		356		5,388		—		4,144		1,244
Debt Securities Carried by EGL	145,731		159		63		145,827		34,233		87		26		34,294
Investment Funds	55,940		7,716		4		63,652		22,027		5,678		6		27,699
Total	$	203,635	$	7,875	$	382	$	211,128	$	63,454	$	5,765	$	4,187	$	65,032

Scheduled maturities of the Company's available-for-sale debt securities within the Securities Investments portfolio as of September 30, 2018 and December 31, 2017 were as follows:



	September 30, 2018				December 31, 2017
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due within one year	$	200	$	200	$	204	$	204
Due after one year through five years	999		995		1,602		1,591
Due after five years through 10 years	99		98		—		—
Total	$	1,298	$	1,293	$	1,806	$	1,795

Since the Company has the ability and intent to hold available-for-sale securities until a recovery of fair value is equal to an amount approximating its amortized cost, which may be at maturity, and has not incurred credit losses on its securities, it does not consider such unrealized loss positions to be other-than-temporarily impaired at September 30, 2018.

Securities Investments - Debt Securities

Securities Investments - Debt Securities are classified as available-for-sale securities within Marketable Securities on the Unaudited Condensed Consolidated Statements of Financial Condition. These securities are stated at fair value with unrealized gains and losses included in Accumulated Other Comprehensive Income (Loss) and realized gains and losses included in earnings. The Company had net realized gains (losses) of $9 and ($26) for the three and nine months ended September 30, 2018, respectively, and ($26) for the nine months ended September 30, 2017.

Securities Investments - Equity Securities

Securities Investments - Equity Securities are carried at fair value with changes in fair value recorded in Other Revenue, Including Interest and Investments, beginning on January 1, 2018, on the Unaudited Condensed Consolidated Statements of Operations. The Company had net realized and unrealized gains (losses) of $114 and ($92) for the three and nine months ended September 30, 2018, respectively, and $32 and ($43) for the three and nine months ended September 30, 2017, respectively.

Debt Securities Carried by EGL

EGL invests in a fixed income portfolio consisting primarily of treasury bills and municipal bonds. These securities are carried at fair value, with changes in fair value recorded in Other Revenue, Including Interest and Investments, on the Unaudited Condensed Consolidated Statements of Operations, as required for broker-dealers in securities. The Company had net realized and unrealized losses of ($207) and ($242) for the three and nine months ended September 30, 2018, respectively, and ($340) and ($707) for the three and nine months ended September 30, 2017, respectively.

Investment Funds

The Company invests in a portfolio of exchange-traded funds and mutual funds as an economic hedge against the Company's deferred cash compensation program. See Note 15 for further information. These securities are carried at fair value, with changes in fair value recorded in Other Revenue, Including Interest and Investments, on the Unaudited Condensed Consolidated Statements of Operations. The Company had net realized and unrealized gains of $3,004 and $4,120 for the three and nine months ended September 30, 2018, respectively, and $1,013 and $2,570 for the three and nine months ended September 30, 2017, respectively.

Certificates of Deposit

At September 30, 2018, the Company held certificates of deposit of $100,000 with a bank with original maturities of six months or less when purchased. At December 31, 2017, the Company held certificates of deposit of $63,527 with certain banks with original maturities of six months or less when purchased, which matured during the first quarter of 2018.