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Investments
 12 Months Ended
Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]  
Investments Investments
At December 31, 2019 and 2018, Federated held investments in fluctuating-value Federated Funds of $20.1 million and $4.1 million, respectively, primarily in mutual funds which invest in equity securities. Federated held investments in Separate Accounts of $6.8 million at both December 31, 2019 and 2018, that were included in Investments—Affiliates and Other on the Consolidated Balance Sheets. Federated's investments held in Separate Accounts as of December 31, 2019 and 2018, were primarily composed of stocks of large U.S. and international companies ($3.0 million and $2.7 million, respectively) and domestic debt securities ($2.6 million and $3.5 million, respectively).
Federated consolidates certain Federated Funds into its Consolidated Financial Statements as a result of Federated's controlling financial interest in these Federated Funds (see Note (6)). All investments held by these consolidated Federated Funds were included in Investments—Consolidated Investment Companies on Federated's Consolidated Balance Sheets.
Federated's investments held by consolidated Federated Funds as of December 31, 2019 and 2018, were primarily composed of domestic and foreign debt securities ($38.9 million and $20.9 million, respectively) and stocks of large U.S. and international companies ($22.6 million and $1.6 million, respectively).
The following table presents gains and losses recognized in Gain (Loss) on Securities, net on the Consolidated Statements of Income in connection with Federated's investments:
(in thousands)
 
2019

 
2018

 
2017

Investments—Consolidated Investment Companies
 
 
 
 
 
 
Unrealized Gains (Losses)
 
$
4,759

 
$
(3,142
)
 
$
771

Net Realized Gains (Losses)1
 
(1,243
)
 
(374
)
 
2,245

Net Gains (Losses) on Investments—Consolidated Investment Companies
 
3,516

 
(3,516
)
 
3,016

Investments—Affiliates and Other
 
 
 
 
 
 
Unrealized Gains (Losses)
 
2,156

 
(1,180
)
 
118

Net Realized Gains (Losses)1
 
(706
)
 
339

 
4,938

Net Gains (Losses) on Investments—Affiliates and Other
 
1,450

 
(841
)
 
5,056

Gain (Loss) on Securities, net
 
$
4,966

 
$
(4,357
)
 
$
8,072

1
Realized gains and losses are computed on a specific-identification basis.